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<p>[QUOTE=&quot;Lehigh96, post: 836937, member: 15309&quot;]Since the three posts that followed this were exclamations of how great Doug&#039;s post was, I am sure my opinion will be unpopular.</p><p>&nbsp;</p><p>Doug, are you claiming that the TPG&#039;s establish their current grading policy based on the economic trends of the numismatic market? If so, I must vehemently disagree with you. The TPG&#039;s are in a constant balancing act. If they grade to conservatively, their customers will choose another TPG in hopes of getting a higher grade. If they grade to loosely, they risk losing the consumer confidence that is essential to their success. Once the consumer confidence in the assigned grade is gone, the TPG will drop in tier.</p><p>&nbsp;</p><p>The introduction of the CAC had an immediate effect on the grading standards of both NGC &amp; PCGS. Both companies were aware that there was nothing they could do about coins already graded, but both were also cognizant that they did not want to fall behind the other in terms of % of their coins that would end up with a CAC sticker. The only way for either company to ensure a high % of CAC stickers and maintain consumer confidence in their grading was for both to tighten their grading standards back up. We all recognize that the TPG&#039;s did overgrade coins during the time periods you mentioned.</p><p>&nbsp;</p><p>The drop in prices was completely independent from anything happening in the grading process and was a result of the overall economy which crashed in late 2008. Your theory is that grading tightened because prices dropped. Therefore, if the economy had stayed strong and coin prices continued to rise or remain flat, is it your position that the TPG&#039;s would not have tightened their standards even with the advent of the CAC? </p><p>&nbsp;</p><p>I think all of the major players in both PCGS &amp; NGC know John Albanese, know his grading expertise and standards, and knew that the CAC was not going to fail miserably as many so called numismatic forum pundits predicted. They prepared for the arrival of the CAC and took responsible measures to ensure that the introduction of the CAC did not adversely affect their business.&nbsp; The fact that those measures coincided with the decline in market prices is mere coincidence.[/QUOTE]</p><p><br /></p>

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