Tuesday, June 03, 2008

Fourth-party grading, such as John Albanese’s Certified Acceptance Corporation (CAC), doesn’t add depth

For those who thought they had seen everything with coin grading, we now have fourth-party graders! Before we had grading companies it was pretty simple. It took two parties for coins to change hands – the buyer and seller plus a price list based on the state of preservation of the coin. Human nature typically had the seller lean on the better state of preservation of the coin (higher value) while the buyer often would estimate a lower grade (less cost).

The coin industry promoted the idea of an independent appraisal of coin (third-party grading) because it would simplify coin transactions and even promote sight-unseen trading of coins. It’s been over 20 years since companies started for a fee to evaluate a coin and assign a grade. The earliest was a non-profit service by the American Numismatic Association that would return the coin in a simple flip with a . . .

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