from http://www.greysheet.com/ their "coin market indicator" shows: PCGS: 83.73% NGC: 84.82% ANACS: 56.71% ICG: 85.85% PCI: 54.96% SEGS: 53.58% NCI: 32.74% INS: 30.71% their explanation of the indicator below: CDN Certified Coin Market Indicator™: Starting in 1988, the weekly Coin Dealer Newsletter (the Greysheet) has featured a Certified Coin Market Indicator box on the front page. This is a weekly comparison of selected certified coin Bid levels (from sight-unseen Bid levels in the Certified Coin Dealer Newsletter - the Bluesheet) to the CDN's sight-seen Bid levels (as 100%), sampled from 10 U.S. coin series (2 grades each series, for a total of 20 ratios). These Indicator ratios should be used to survey the entire market, and not just applied to any single issue; these ratios should be applied to CDN Bid levels to obtain a trading range for comparisons. A complete list of the coins surveyed and the methods of calculation are available in an article printed in the July 1988 CDN Monthly Supplement. This issue is available for purchase for $2.50 from: CDN Publications, PO Box 7939, Torrance CA 90504, (310) 515-7369
I dug this out from a previous post as I asked the same question: "The indicator is percentages of prices offered between dealers of sightunseen certified coins. These numbers change pretty frequently and really do not provide the best information. As an example, PCI has a rating higher than Anacs. Yet in the market place, very few PCI coins are traded sight unseen [Keep in mind this was written a few months back]. I have used PCI at shows only, and only for authentication. If we offer to buy or sell a raw key date, we will get it fast tracked by PCI at the show. They offer a two hour turn around time. The next best service offered is same or next day. Most dealers and collectors agree on the top four services as they are listed in the indicator." +++++++++++++++++ Now for me, I like what ICG is doing... First their slabs have the best protection compared to any other grading service. This is because for another $3, you can have your coin slabbed with the Intercept Shield. This is proven protection for your coin as this technology has been used (and still is used) for a number of other industries where protection against environmental variables is vital. I still am surprised that PCGS or NGC didn't implement this technology into their slabs. Bottom line, their sonically sealed slab with Intercept Shield is much better than a slab without it. If you have to keep you old Lincolns Red or your silver Morgans from turning. This is a way to go. Second, you are starting to see them at major auction houses like Heritage. Heritage only auctions off coins slabbed by PCGS, NGC, ANACS and now ICG. That's a nice feather in their cap. Third, many of dealers I have spoken to are now looking at their coins more closely. I still find dealers that state that ICG stands for "I Can't Grade", however, I found some really nice coins ICG graded at a FRACTION of the cost against a PCGS slabbed coin. Of course, PCGS slabs sell higher than ICG for the "same" coin in the "same" grade, but if you are looking to pick up a coin at a fraction of what PCGS or even NGC will get, I would look at ICG. Another problem for dealers is when ICG started offering MS70 or PR70 for some of their grades. "There's no such thing as a perfect coin I tell ya..." bellowed one dealer and he thinks this has forced PCGS and NGC to start offering 70 grades as a means to compete against ICG. Another concern was that ICG was more liberal with their grading than the big two. I'll tell ya, for what I have seen...though a small sample...their grades seem conservative and fair.
The coin market indicator on the weekly CDN is pretty much meaningless. One week ICG may have the highest % and next week it may be PCGS or one of the others. And take a look at the numbers themselves - the top 3 are less than 2% apart.
I disagree, I believe the numbers are very meaningful in the sense that they consistently show the three companies which are likely to provide consistent and accurate grading. Which one is one top matters little, but the gap between the leaders - PCGS, NGC, and ICG -and the rest is what is significant.
