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Message:: [QUOTE="gmarguli, post: 309286, member: 246"]Agreed. And it had a lot to do with PCGS giving out the 70 grade too easily in order to try and recapture their niche market that they outright lost to NGC. The market used to be PCGS giving out no/extremely few 70s and NGC giving out a bunch. The PCGS coins were worth a small fortune in 70 and nothing in 69 - less than bulk grading fees. The NGC were worth a decent premium in 70 and nothing in 69. It's pretty easy to see who you're going to submit with if you're going to get 1/3 decent winners and 2/3 losers or 99% losers and 1% big winners. This is why NGC grades significantly more moderns (and all coins in general) than PCGS. PCGS finally woke up and opened the floodgates. Now it's 10%-15% winners and 85%-90% losers. NGC pretty much went on with business as usual. What PCGS didn't seem to count on was the dramatic drop in value a PCGS 70 would have. No longer are they $800-$1500 coins, but $100-$150 coins. At the same time the market saw all these PCGS 70s and all these NGC 70s and the price gap between the new PCGS prices and the NGC prices has closed greatly. It's no longer 10X or 20X, but maybe 2X-3X for many coins. That ony encourages more submissions to NGC which gives out more 70s and more of a dying market.[/QUOTE]