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<p>[QUOTE=&quot;princeofwaldo, post: 7773363, member: 24091&quot;]For many years now it has pretty much been a two horse race between NGC and PCGS, with the other TPG services picking-up the scraps left behind by them.&nbsp; I sense that this long-held status quo may well be in for a shock in the months ahead.</p><p><br /></p><p>There has been such profound change at NGC ---and especially PCGS-- over the last year.&nbsp; For the first time since these two companies came to dominate the grading and authentication field, there exists an opening for a qualified new entry to completely shatter the existing paradigm.</p><p><br /></p><p>The ownership changes at PCGS and NGC, and their nascent move away from coins towards other much more esoteric and speculative collectibles suggests to me that both firms have taken their eye off the numismatic ball.&nbsp; The announced departures of both Brett Charville and Joe Orlando at PCGS suggests that PCGS in particular must be navigating significant internal turmoil.&nbsp; How could they not be?</p><p><br /></p><p>Add in institutionalized grade inflation at NGC and PCGS whereby a continuous stream of older holdered coins get the boost to a higher grade that generates both revenue for the grading services and facilitates arbitrage among submitters, and the environment is right for a profound change in the existing order.&nbsp; Or as Martin Luther would have coined it, a list of &quot;indulgences&quot; desperately needing to be rectified.</p><p><br /></p><p>That natural evolution would be for an existing arbiter to step-in and take over.&nbsp; The only organization that has that prerequisite qualification is Certified Acceptance Corporation, otherwise known as CAC.&nbsp; The original establishment of CAC by John Albanese was to address this very same grade inflation, something that has actually gotten worse among the established TPG since CAC was first introduced.</p><p><br /></p><p>All that would be required at this juncture for CAC to near completely take over the market, would be a holder of their own, a registry set application on their website, and the adoption of a published policy on resubmissions.&nbsp; Existing holders with a CAC sticker would be crossed at their current grade.&nbsp; No grade reassessments will be performed on coins in a new CAC holder; they must be cracked-out and resubmitted with a chance at a lower grade and not just a higher grade.</p><p><br /></p><p>I think the hobby is very much ready for a development like this, and while it would disrupt many existing relationships within the industry, in the final analysis it would be a very positive development.&nbsp; Instead of vast sums of money being wasted on resubmissions, collectors and investors could instead direct their resources towards acquiring coins, something that will without doubt benefit collectors, dealers, and auction houses alike after many years of abuse at the hands of the current grading service cartel.[/QUOTE]</p><p><br /></p>

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