Collectors Acceptance Corporation- NEW Stickering Information

[goldrarities.com-migration]

From the Certfied Coin Dealer Newsletter “Bluesheet”

 

“Collectors Acceptance Corporation (CAC), founded by John Alabanese will soon be applying “approval stickers” to those PCGS and NGC certified coins that are deemed to be solid for the grade. John says when he views coins he gives them an alpha letter of A, B or C for their numerical grade on the slab label. Only coins that fall into the A and B category will be “stickered” with approval. A small tamper proof oval approval sticker will be placed on the front of the slab along with directions for authentication verification on their web site. Certified coins that are believed to be under-graded will be issued special stickers designating the coins as potential upgrade candidates. CAC is planning on publishing populations of “stickered” or approved coins on their web site ,but will not list those certified coins that do not qualify. Pricing for this new service has not been finalized, but free opinions are planned to be given to collectors at select shows.”

 

 

[James_OldeTowne]

I'm sorry, but won't this just help crackout artists and coin doctors more quickly find coins to be "worked on"? Without knowing more details, this does not sound like a good plan to me.

[CoinPictures-migration]

Color me cynical, but isn't knowing which coins have NOT been approved just as critical as knowing those that have?

 

I can just see it now:

 

Slimeball dealer, after unsuccessfully attempting to garner the magical, mystical, approval of the consortium, to unsuspecting customer: "This is SUCH a great example and worthy of upgrade potential, that I bet you will EASILY be able to get consortium approval on this gem!"

 

*retch*

[goldrarities.com-migration]

Slimeball dealer, after unsuccessfully attempting to garner the magical, mystical, approval of the consortium, to unsuspecting customer: "This is SUCH a great example and worthy of upgrade potential, that I bet you will EASILY be able to get consortium approval on this gem!"

 

 

The same slimeball dealers are already telling their customers that they are being sold PQ coins when they are not. Your argument above makes the case for simply buying stickered coins to begin with.

[cpm9ball]

Please excuse me, but wouldn't it be better to put this thread in Tangents? There is already enough (*^*&%&^) about the CAC, and I'm tired of seeing it everywhere.

 

Chris

[DC Dawg]

A small tamper proof oval approval sticker will be placed on the front of the slab along with directions for authentication verification on their web site.

(emphasis added)

The security geek in me just came up with an evil smile!

Even NGC knows to call their slabs and labels "tamper evident!"

 

NOTE TO CAC: Don't call this sticker "tamper proof." It's a not a matter of if someone will tamper, forge, spoof, or whatever term you want to use. It's a matter of when it will happen! Ensure you have a risk mitigation process for tampering with the labels. I can think of several potential hacks for this system... and if I can think of it, others can, too.

 

Scott

[xJack]

I would think that the CAC sticker would indicate a coin that is maxed-out.

 

Anything getting a label will be "solid" for the grade and will probably be priced to the next grade up anyway.

[Prethen]

WOW! Now we get to pay for someone's opinion ABOUT someone else's opinion. This is ridiculous.

 

I do have one concern that's probably been voiced before. With all the gullible folk out there that will go for this, will that push down the values on coin collections (like mine) that will not have these lovely tamper-proof stickers on them?

[TwoKopeiki]

WOW! Now we get to pay for someone's opinion ABOUT someone else's opinion. This is ridiculous.

 

And that's why I love Darkside, where the only opinion that matters is the collector's.

 

~Roman

[gmarguli]

Please excuse me, but wouldn't it be better to put this thread in Tangents? There is already enough (*^*&%&^) about the CAC, and I'm tired of seeing it everywhere.

 

Chris

 

Thank you!!! This CAC scam spam is sickening. Not only does it have no place in the COIN forum, it would be best suited in the Marketplace forum as it is an advertisement.

 

22 posts by goldrarities and all are on the CAC. Gee, you think he is a shill?

 

Perhaps the CAC feels the need to keep posting it in the online forums as most of the dealers I've talked to have been laughing at the idea of this moronic scam.

 

 

[ziggy29]

I do have one concern that's probably been voiced before. With all the gullible folk out there that will go for this, will that push down the values on coin collections (like mine) that will not have these lovely tamper-proof stickers on them?

IMO it's worse than that. As someone who has spent years developing an eye for quality for the grade, this will just make it less likely that we won't identify nice coins for the grade without having them "TPG and CAC blessed" for much more money.

 

As I just wrote ATS, those who used to be able to build nice collections affordably by being able to locate diamonds in the rough may become an endangered species as all the diamonds are being moved out of the rough and placed in expensive display cases.

[WinstonWare]

This thread also...in need of more cowbell

 

[WoodenJefferson]

[pendragon1998]

Spammers basically ensure that they lose my future business.

 

[rrantique]

[font:Arial Black] C A C[/font] definition: Coins Aren't Cheap Here is another [font:Arial Black]Collectors Aren't Crazy[/font] Or are They?

 

[DC Dawg]

Spammers basically ensure that they lose my future business.

 

This picture is totally rude... I LOVE IT!!!!

[ibyandsellsmith]

This idea, of which I'm completely against, will work with some. The fact that a company thinks there opinion will override the TPG's is opp-surd. It might work with NNC or Segs but anybody who knows anything about grading companies already know those coins ended up in those holders, simply, because they wouldn't make it in another.

Now quit talking about this and move on.

[Houston Investor]

I think this whole CAC idea is insane.

[Tradedollarnut]

I think this whole CAC idea is insane.

 

Coming from you, that makes me feel better about the idea.

 

Nice ebay store.

[gmarguli]

I think this whole CAC idea is insane.

 

Coming from you, that makes me feel better about the idea.

 

Nice ebay store.

 

Looks like a nice assortment of collector coins in his store.

 

To compare, I tried pulling up the Legend store on eBay, but it says that they are NARUed.

[MikeInFL]

I think this whole CAC idea is insane.

 

Coming from you, that makes me feel better about the idea.

 

Nice ebay store.

 

Looks like a nice assortment of collector coins in his store.

 

To compare, I tried pulling up the Legend store on eBay, but it says that they are NARUed.

 

eBay is clearly a marketplace filled with the best that numismatics has to offer.

 

That said, after looking at Parker's inventory (the vast majority being $200 and under items), I can understand why he doesn't seem to get the CAC -- he seems to be in a market segment where he (and his clients) would see no value in such a service (or at least how I understand it given the limited info)...Mike

 

[edited to add]

 

Call me naive, ignorant, or stupid, but as a collector I see value in a service that validates the grade on the holder and puts its money where its mouth is -- something the TPGs have been want to do in a forthright manner. If it helps to reform the TPGs grading policies or lessen the impact of doctoring, so much the better. I would happily pay for this service for the support on the sell side, and for the education into how the market percieves the coins I have chosen to add to my collection -- coins I hope to never sell myself. I would also see the value of the sticker on the buy side and would be more likely to bid/inquire about coins so identified, being able to clearly quantify the price support at the time.

 

One could argue that these training wheels aren't necessary and person_having_a_hard_time_understanding_my_point numismatic advancement -- and there is some truth to this argument. (I would retort that the same is true of today's market based on the TPGs in the first place.) Another argument is that the structure of the organization seems to have conflicts of interest. Again, some truth to this. (I would respond that the TPGs are as bad or worse.) However, ultimately the market will decide the fate of this enterprise, and the devil is in the (yet to be disclosed) details -- so to judge it moronic scam is premature, at least from where I sit.

 

But really, I just think you're scared because Albanese won't let you get away with the games that the TPGs will.

[JamminJ]

I really wouldn't believe all this consortium stupidity had I not read it with my own eyes.

[DirtyGoldMan]

I think this whole CAC idea is insane.

 

Coming from you, that makes me feel better about the idea.

 

Nice ebay store.

 

Too bad that 84-CC Morgan is in an ICG holder. Otherwise, it might sticker.

[Houston Investor]

Please excuse me, but wouldn't it be better to put this thread in Tangents? There is already enough (*^*&%&^) about the CAC, and I'm tired of seeing it everywhere.

 

Chris

 

Thank you!!! This CAC scam spam is sickening. Not only does it have no place in the COIN forum, it would be best suited in the Marketplace forum as it is an advertisement.

 

22 posts by goldrarities and all are on the CAC. Gee, you think he is a shill?

 

Perhaps the CAC feels the need to keep posting it in the online forums as most of the dealers I've talked to have been laughing at the idea of this moronic scam.

 

 

Well put - the CAC idea is insane.

[bsshog40]

I agree that this is more of a promotion of a product and needs to be in the Marketplace forum.

[DirtyGoldMan]

I agree that this is more of a promotion of a product and needs to be in the Marketplace forum.

 

I disagree completely. This is a new numismatic venture in the marketplace, one in which there are many questions and concerns. Discussing it on this forum is completely appropriate.

 

I think that people are looking for ways to bag the CAC or the messenger because they do not like it/him.

[cpm9ball]

I think that people are looking for ways to bag the CAC or the messenger because they do not like it/him.

 

You've got that right! Until only recently when the complaints started coming in, goldrarities was plastering this propaganda and his advertising in every forum. Just how often has he contributed anything of a positive nature to these forums prior to this?

 

I won't deny it, Sage, I don't like it or him!

 

Chris

[DirtyGoldMan]

I think that people are looking for ways to bag the CAC or the messenger because they do not like it/him.

 

You've got that right! Until only recently when the complaints started coming in, goldrarities was plastering this propaganda and his advertising in every forum. Just how often has he contributed anything of a positive nature to these forums prior to this?

 

I won't deny it, Sage, I don't like it or him!

 

Chris

 

I guess I missed the post where he offered to sell something.

 

A week or so ago, the board was awash with questions about the CAC, and then someone appears and offers some answers, and you trash him. Very nice. I thought that this was supposed to be the civil forum.

 

Like it or not, the CAC is coming. You can choose to avoid it, but you cannot make it go away.

[James_OldeTowne]

Robert, please see my thread about CAC's competition. Although it is a satire on the Coin World article, it is only somewhat tongue-in-cheek. I really do think it provides a better solution than the "consortium", and would value your feedback.

[WoodenJefferson]

I think that people are looking for ways to bag the CAC or the messenger because they do not like it/him.

 

You've got that right! Until only recently when the complaints started coming in, goldrarities was plastering this propaganda and his advertising in every forum. Just how often has he contributed anything of a positive nature to these forums prior to this?

 

I won't deny it, Sage, I don't like it or him!

 

Chris

 

I guess I missed the post where he offered to sell something.

 

A week or so ago, the board was awash with questions about the CAC, and then someone appears and offers some answers, and you trash him. Very nice. I thought that this was supposed to be the civil forum.

 

Like it or not, the CAC is coming. You can choose to avoid it, but you cannot make it go away.

 

Yes, you missed goldrarities.com starting a thread where they were telling everyone that CAC was the best thing since Mother's Milk and that they were on-board whole heartedly and that you should now buy coins from goldrarities because of that. The post was very blatant SPAM and was quickly pulled by the Moderators as being such...this post here is no more than an attempt to fly under the Mods radar for self promotion of a dealer.

 

Sour grapes.

 

Sorry, but it's true and I do not like it either.