PCGS vs NGC vs CAC
PCGS and NGC are the two grading services the US coin market trusts most. CAC does something different: it reviews coins already graded by them and stickers the ones it considers solid for the grade. Here is how the three fit together, and what that means when you buy or sell.
By Changes Hands Research · Updated Nov 3, 2026 · 5 min read
The short answer
For most US coins, a PCGS or NGC holder is what buyers want, and dealers, auction houses and price guides treat the two as the reference standard. Differences between them exist, but they are smaller than the differences between any two individual coins in the same grade. A CAC sticker is an extra opinion layered on top: it says a specialist reviewer thought the coin met or beat the standard for its grade.
Other services exist, such as ANACS and ICG, and their holders are perfectly legitimate. The market simply tends to pay less for the same stated grade from them, so most sellers of valuable coins choose PCGS or NGC.
PCGS
Professional Coin Grading Service was founded in 1986 by a group of dealers who wanted a sealed, guaranteed grade that could trade sight-unseen between dealers. That idea, a grade backed by the company's guarantee and sealed in a holder, reshaped the coin market. PCGS is based in California and grades US and world coins.
Collectors use several PCGS resources whether or not they own PCGS coins: CoinFacts for mintages, die varieties and reference photos, the PCGS population report, and the PCGS price guide. The Set Registry, where collectors rank their sets of certified coins, has also driven demand for high-grade examples of many series.
NGC
Numismatic Guaranty Company followed in 1987 and is based in Sarasota, Florida. It is part of the Certified Collectibles Group. NGC publishes its own census, price guide and online reference, NGC Coin Explorer, and runs a registry program of its own.
NGC uses a star designation for coins with exceptional eye appeal for the grade, and both services add a plus to some grades to mark a coin at the top of its grade. Both offer online certificate verification, which you should use on any slab you buy.
Where they differ in practice
Grading standards at the two services are close, and coins regularly cross from one holder to the other at the same grade. Where differences show up, they tend to be series-specific: in some areas one service has a reputation for being slightly tighter, and the market prices that in with a small premium. These reputations shift over time and are better judged by recent comparable sales than by forum folklore.
- Labels and holders: each service has its own label design and holder generations. Older holders are sometimes sought after because many collectors believe the coins in them were graded more strictly.
- Designations: both certify strike designations such as Full Bands on Mercury dimes and Full Bell Lines on Franklin halves, color designations on copper, and prooflike surfaces on Morgan dollars, with minor differences in wording.
- Problem coins: NGC labels them Details; PCGS labels them Genuine with a description of the problem.
- Varieties: both attribute major varieties, and both reference standard catalogs such as the Cherrypickers' Guide and, for Morgan dollars, VAM numbers.
CAC: a second opinion on the grade
CAC, Certified Acceptance Corporation, was founded to address a familiar problem: two coins in identical holders with identical grades can differ a lot in quality. Within any grade there are coins at the bottom, the middle and the top. CAC reviews coins already certified by PCGS and NGC and places a green sticker on the holder when it judges the coin solid for its grade. A gold sticker means CAC thinks the coin is better than its grade, close to the next one up.
Coins that do not meet the standard are returned without a sticker and without explanation, and the lack of a sticker is not a statement that the coin is bad. Many perfectly good coins have simply never been submitted. CAC has concentrated on classic US coins, so its stickers are most often seen on series such as Morgan dollars, early silver and gold.
In the market, a CAC sticker typically adds a premium, sometimes a large one on better coins. It does not change the grade on the label. CAC has also launched its own grading service, but when collectors say a coin is CAC they usually mean the sticker.
Crossovers and regrades
A crossover is a request to move a coin from one service's holder into the other's. You can ask for the crossover only at a minimum grade you specify; if the second service will not meet it, the coin stays in its original holder. A regrade is a request to the same service to look again, usually in hope of a higher number. Both cost money and both carry risk: the coin may come back lower, or be found to have a problem the first look missed. The population report counts each submission, so resubmitted coins can also inflate the reported population of a grade.
Which should you buy?
Buy the coin, not the holder. For most collectors, the useful rule is to accept PCGS or NGC coins interchangeably, compare prices between them at the same grade, and look closely at each coin's photos. Use CAC as a tiebreaker on more expensive classic coins rather than a requirement on everything. For bullion-type coins like American Silver Eagles, stickers are rarely relevant and the grade itself, usually MS69 or MS70, does the work.
How Changes Hands treats certified coins
Certified coins on Changes Hands keep the grade the grading service gave them; we do not regrade them. Each certified class is defined by date, mint, grading service and grade, and each has its own order book. A PCGS MS64 1881-S Morgan dollar trades in MORG-1881S-PCGS-MS64, separately from the NGC MS65 class MORG-1881S-NGC-MS65, so buyers always know which holder they will receive. A CAC sticker is treated as a separate attribute rather than mixed silently into a class.
Bringing in a coin that is already slabbed is called a cross-in. Like every service, its one-time grading fee is only charged when the coin first sells, together with the 3% seller commission. Buyers pay no fees. The current schedule is on the fees page.
Frequently asked questions
Is PCGS or NGC better?
Neither is better across the board. Both are the market's reference standard for US coins, their grading is close, and coins cross between them at the same grade every day. In some series one service commands a small premium; check recent sales for the exact coin and grade you are considering.
What does a green CAC sticker mean?
A green CAC sticker means CAC reviewed the coin in its PCGS or NGC holder and judged it solid for the stated grade. A gold sticker means CAC considered it better than the stated grade. The grade on the label does not change.
Is a coin without a CAC sticker a bad coin?
Not necessarily. Many coins have never been submitted to CAC, especially lower-value or modern coins. A missing sticker only tells you something if you know the coin was submitted and rejected, which usually you do not.
How do I verify a PCGS or NGC slab?
Enter the certificate number from the label into the service's online verification tool. Check that the date, mint, grade and photos (where available) match the coin in your hand. Counterfeit slabs exist, so buy from sellers you can hold accountable.