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If ANACS, PCGS and NGC are TPGs, was CAC an FPG as originally founded?
CaptHenway
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A serious question of terminology:
If ANACS and then PCGS and then NGC, etc., are Third Party Grading Services, or TPGs, was CAC as originally founded a Fourth Party Grading Service, or FPG?
Under its new business model, should it properly be called a TPG?
What about CMQ? Is it an FPG?
I am writing an article about Grading and would appreciate serious input.
TD
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
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From Google:
third party
adjective
"relating to a person or group besides the two primarily involved in a situation."
In this case, I'm assuming the first and second parties are the buyers and sellers of coins, which is why the grading companies are the third parties - they are grading other peoples' coins and are therefore not directly involved in the sale of the coins, themselves.
Since the stickering companies are an additional party on top of the other three, it seems to me like it would be appropriate to call them a fourth party.
Interesting premise. I think CAC (the stickering service) and CMQ would be 4th party, and PCGS, NGC, ANACS, CACG, etc. are 3rd party
“We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”
Todd - BHNC #242
I don’t think it would be inappropriate to call CAC stickering a FPG. CACG, however, would be a TPG.
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You said CAC and CMQ so....good luck
I would deem them TPG verification services or TPG Review Services (or whatever term that doesn't include fourth) because they are not giving the coins a grade, they are weighing in on the accuracy of the grade assigned by the TPG.
chopmarkedtradedollars.com
I would go a step further and call CACG a TPG verification service with it's own in house TPG service.
The current model for CAC seems to fall within scope of a TPG entity.
The initial status is more complicated- I would call them a verification service that technically is outside the scope of what a TPG entity does as they essentially assign grade.
Experience the World through Numismatics...it's more than you can imagine.
TPGV?
CAC-Initially, a Fourth Party Verification Service.
CACG-Currently and additionally, a Third Party Grading Service.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
I would personally call them a fourth party - as they are a separate evaluation of the third party for accuracy.
I see it this way - the seller is the first party. The buyer is the second party who conducts their own review. A third party conducts another review again independent of both parties. The fourth party (CAC) will then evaluate the third party’s opinion for accuracy, independent of all the above.
They are all 3rd parties. When we have a GTG, all opinions are 3rd party opinions. 3rd party simply means not one of the two primaries.
Appreciate the input.