I thought that's what the "need" for CAC was, to stabilize things, so there could be some consistency. I thought that's what we were led to believe. I was here when they started. I thought that's what they were here for, as a check on the grades, because there was a perception they were running amok.
Market grading permits that lunacy. Furthermore, it's heavily influenced by marketing, which is also lunacy, in that it's not rational. It's rather one lunatic's irrational opinion.
No, they wouldn't accept it. They don't accept all coins. Here is their list: http://www.caccoin.com/coins-accepted/
So, how many steps need to be full to get the "FS" designation? It might be a more complicated answer than you think.
Now this really should qualify for the necro thread of the week. While technically not a GTG thread, I asked the member of this forum 5 years ago if they thought this coin deserved 5 full steps. Obviously, I would not have asked that question if I didn't think that it had a good chance of upgrading to full steps. Only one other member, @mark_h agreed with my assessment. Well take a bow my friend! On a side note, I think it is very cool that the coin gets to keep the same early submission number but gets a new edgeview holder and scratch resistant slab. This disappointment is that in 2014 a 1950-D NGC MS67 5FS was near $2K in price, now they sell for $500-$750. Still, this coin upgrading helps me recoup some of the money I lost when I sold my other MS67 5FS at a $500 loss earlier this year. And for those of you who weren't here 5 years ago, take some time and read this entire thread. This is one of the classic Paul vs Doug debates from the old days.