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Posted 09/04/2013 3:18 pm
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So by that logic, then the grading services are NOT doing their job. If you have to have another service confirm what the first service said is correct, what then is the point of the first service? And the whole " It was started to provide a sight unseen market for coins" argument is the EXACT thing that was said when the TPG's first fired up. So in another 10 years we will have a service that grades the service grading the service. How long before the stickers on the slab cover the coins being graded?
So by that logic, then the grading services are NOT doing their job. If you have to have another service confirm what the first service said is correct, what then is the point of the first service? And the whole " It was started to provide a sight unseen market for coins" argument is the EXACT thing that was said when the TPG's first fired up. So in another 10 years we will have a service that grades the service grading the service. How long before the stickers on the slab cover the coins being graded?
Keep in mind, CAC was founded by the same guy who had a hand in the founding of both NGC and PCGS - John Albanese - because he was so disgusted at what his creations had become. He started them for those reasons, and they morphed into something which no longer had relevance for him as a high-end dealer. Have a look at this article:
http://www.caccoin.com/cac-in-the-n...urice-rosen/
It clearly illustrates how little interest CAC has in the secondary market for their coins; they don't profit from someone else selling one.
