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I, like many other webmasters here, have lost many of my pages in the G index. These are the same pages that had top 3 rankings for some good terms a month ago.
When entering the URL of the missing page, G says the page does not exist, however the Google Toolbar is showing a PR of 3 when I visit the page. I have tried this for many of my missing pages (mostly PR2 and 3 pages).
I really hope that this means the missing pages will make it back into the index one day, as I had previously noticed that legitimately dropped pages lost their PR immediately.
If a page is removed from the index its PR should remain the same as long as the links to it remain the same. It should infact come back but this is google and we all know google has been broken for some time. Coming up to a year or so now.
Dont do anything drastic at this point, add new information yes but dont start changing the structure of you site or the templates. This wont do you any favours when googlebot comes back and find nothing as it was when it last saw you.
It takes time but you must wait. I have been waiting for some time now. Nearly 11 months. My sites have come back for only one day in google since then. They are 95% unique content strait html. No tricks all the internal links say what the page content is about as do all the headers and the information itself.
Google is broken and we cant fix it ... apparently niether can they. Sucks but just wait and add good content really is the only sain way.
The fact that PR and backlinks are still showing for the pages that are dropped from the index gives me some hope that we might recover some time in the near future.
From what I have observed, over the past six months, the PR will eventually vanish. Most people arenít aware of this because it was only ushered in full scale in the past month.
The bottom line is many de-indexed pages now have questionable PR. I would think this definitely has an impact on link purchasing because of the volatility of the PR. Some pages I have seen being sold for link pop have lost it in the past two weeks. It can change overnight.