As a collector, I have been following this discussion with a level of concern.
In December of 2012, I purchased a 2001 (small D) silver panda from one of the coin forum members. I sent it to NGC for authentication, grading and encapsulation. The coin was authenticated by NGC and graded a 69. I added it to my permanent collection. My basis in the coin is $572. In contrast, the 2001 silver panda in my collection (without a large or small D) (graded a 69) has a basis of $64.39. I paid $500+ extra to own a potentially rare silver panda.
In the past, I have read the discussions about 1984 silver pagodas, 1984 silver goldfish, etc. Experts tell us whether these were official Mint products, private Mint products, counterfeit, etc. Third party grading services decide whether to grade these coins or medals based upon best available information and decide how to describe these coins or medals on their labels.
If you are an investor, these discussions are very important. If you are a dealer, you are turning over your inventory quickly, capturing a quick profit and moving on to the next opportunity. As a collector, these discussions are a mere distraction. I am careful to limit the level of distraction so that the discussion does not deter me from pursuing my hobby. If the distraction becomes too great, I sell the item, recognize the loss and again move on.
Mark Bonke