Sold at full price. These are pins that are typically in great condition without any type of noticeable flaws. They come on branded backing cards.
These pins are sold at a reduced price and are pins with small defects and imperfections. These imperfections are things like dents on the metal, divots or overfill on the ink, incorrect colors, spots/stains, and other issues. They do not come with a backing card but will still come with the locking baks to help you keep your pins secure.
These are not sold. They have really big mistakes.