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<p>[QUOTE=&quot;calcol, post: 4902382, member: 77639&quot;]The momentum effect in economics usually refers to price of a security continuing in the direction it has been recently changing ... up or down.&nbsp; The momentum effect confounds economists and analysts.&nbsp;&nbsp; They would love to be able to predict when current momentum will end ... it would be the path to riches untold.&nbsp; When they&#039;re successful, it&#039;s just luck.</p><p><br /></p><p>But momentum can also refer to changes in market share by companies.&nbsp; It can be especially strong in business sectors involved in evaluating products and services.&nbsp; Service and product evaluation companies have existed long before coin grading companies came about ... companies like S&amp;P, Moody&#039;s, A. M. Best.&nbsp; Once one or two of these companies establish a reputable name for evaluating particular services or products, it&#039;s very difficult for competitors to gain a significant portion of the business.</p><p><br /></p><p>Unless PCGS or NGC stumbles badly, they will be the dominant coin grading services for the foreseeable future.&nbsp; And PCGS is likely to remain the dominant grading service for medium- to high-end, older US coins.&nbsp; I consider the bottom end of medium-priced to be a few hundred dollars (regardless of grading service) and older to be pre-1970.&nbsp; I also eliminate coins that are priced near their melt value ... some double eagles for example.</p><p><br /></p><p>The market perception is that PCGS-graded US coins are more valuable than NGC-graded coins.&nbsp;&nbsp; An inspection of auction prices realized confirms this perception.&nbsp; For many investors and collectors, that&#039;s enough ... no need to decide whether one service is really a tougher grader than the other.&nbsp; If the desired grade is on a slab and the eye-appeal is there, that&#039;s good enough.&nbsp; It&#039;s not sight-unseen ... it looks OK or better ... no ugly toning ... not a really weak strike ... no heavy adjustment marks, etc.&nbsp; But they&#039;ll take NGC&#039;s or PCGS&#039;s word for it on the numerical grade.&nbsp; But, they will prefer the PCGS coin and pay more for it because the past market has carried forward to be the reality of the present.&nbsp; That&#039;s momentum.</p><p><br /></p><p>The bright spot for NGC is world coins.&nbsp; Ultimately, it may be a bigger market than U.S. coins.&nbsp; For the indefinite future, NGC will be a solid number 2 for U. S. coins.&nbsp; However, there are folks who will favor it over PCGS for a variety of reasons when it comes to submitting and buying coins.</p><p><br /></p><p>Cal[/QUOTE]</p><p><br /></p>

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