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<p>[QUOTE=&quot;John Feigenbaum, post: 2313035, member: 76831&quot;]A lot of valid points being made here. I will add that one of the most important reasons for buying a coins with third party grading is liquidity. This is the main reason PCGS was founded in 1986 and enjoyed rapid success. </p><p><br /></p><p>As a collector in pre-TPG days, the buying and selling of coins involved two major components: agreeing on the grade; and then agreeing on a price. Third-party grading has changed the dynamic of coin collecting significantly and made collectors&nbsp; a lot more comfortable &quot;investing&quot; in rare coins. Of course this has been good and bad, but mostly good. Bad because prices on rare coins have been driven way higher than anyone dreamed possible. Bad, because what goes up can also come down, so there&#039;s more volatility in the market.</p><p><br /></p><p>The reason CDN follows PCGS and NGC closely is because these two grading companies offer the most liquidity in the marketplace. ICG and ANACS do not have &quot;market makers&quot; per se who set levels and this affects the seller&#039;s liquidity. Finally I will add that CAC (the stickering company) has enjoyed extreme acceptance at the highest level of the hobby because they started out as a way for submitters to make their coins more &quot;liquid&quot;. CAC makes a market on thousands of coins and that&#039;s huge for a seller. Ironically, the more of a market CAC makes in coins they sticker, the less coins they are offered directly. Many dealers will pay more than published CAC bids for coins.[/QUOTE]</p><p><br /></p>

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