The previous sustained important bull market in coins was during the inflationary days of the late 1970s and early 1980s.

Then an important market fundamental came into play when Professional Coin Grading Service in 1986 and Numismatic Guaranty Corp. in 1987 began grading and "slabbing" coins.

Gradual use of the Internet followed, which has greatly enhanced coin trading.

Then, beginning in 1999 the State quarter dollars were introduced, stimulating the greatest bull market in coins ever!

Now enters what may be another important market fundamental: CAC, originally known as Collectors Acceptance Corp.

CAC offers two services: One is reviewing and approving or rejecting the grades of coins assigned by PCGS and NGC. The second is making a market in the CAC-approved coins.

Reviewing the grades of previously "slabbed" coins was started by concerned professionals backing CAC because they believe "gradeflation" – grading services grading coins higher than generally accepted standards – is harming the market and financial side of the hobby for both dealers and collectors. After all, the grading services have a vested interest in making their customers happy – namely the submitters – with few checks and balances.

Now CAC has assumed that roll. According to CAC founder John Albanese, business is great and there are no long wait times to get coins back, as sometimes occurs with the services that have to grade and holder coins.

One of the most important functions CAC will provide the market is supporting CAC-approved PCGS- and NGC-graded coins with actual "sight-unseen" buy prices. CAC is in the process of building an electronic trading network but it is not expected to be finished until sometime during 2008.

However, CAC is currently distributing to dealers "sight-unseen" buy lists of type coins of most metals. They are heavy on gold coins, by date and Mint mark. CAC has also put together similar "sight-unseen" buy lists for other denominations. Additionally, we are beginning to see dealers offering, at least on the wholesale side of the market, CAC-approved coins for sale.