Collectors Acceptance Corporation- NEW Stickering Information

[MarkFeld]

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.

While the other thread you referenced is apparently no longer available for viewing, I don't recall seing anything close to "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". If you don't like it, that's your prerogative, but please don't mischaracterize it unfairly like that.

 

Along those same lines, there's nothing to indicate that this thread is an attempt to "fly under the Mods radar for self promotion of a dealer". The first post was a quote from the CCDN.

[DirtyGoldMan]

I remember the thread. Goldrarities.com announced that they would be a participating dealer for the CAC. Perhaps was a bit over-the-top and promotional, but no coins were offered for sale. I have seen a lot worse behavior here.

[gmarguli]

Here is exactly what they said:

 

G*ld R*rities G*llery , one of the nations leading providers of fairly priced,high end quality certified rare coins is pleased to announce that we have accepted an invitation be a market-maker and charter member in C*llectors Acc*ptance C*rporation (C*C) founded by John Alb*nese. Our decision to become involved in this venture was an easy one, in the 20 or so years I have known John Alb*nese not single coin has ever had to be returned to him, a testament to his knowledge of the market as well and his keen eye for quality, which based on actual experience is unmatched in the industry. C*C with a top notch review team and true sight unseen trading system will undoubtedly level the playing field for collectors of all levels and we look forward to our participation.

 

I changed some letters to * so that they are not rewarded for their spam by getting tagged by the search engines.

[MarkFeld]

Thanks Greg (yikes - I think that is at least the second time I've said that today), and after reading that post you provided, I stand by my previous comments in this thread.

[WoodenJefferson]

I stand by my convictions also previously stated. My memory for a change, did not fail me. That failed post in conjunction with this one equals nothing more than an attempt to promote a product or positively sway opinions without a valid model.

 

Strong retaliation for some strong statements by the OP, nothing more Mark. No harm done, I still respect you and SageRad.

 

Thanks Greg for saving that bit of info.

[TomB]

The original thread wasn't nuked, WJ, it appears it was only moved to the Numismatic Marketplace.

[WoodenJefferson]

I do not visit there, Numismatic Marketplace, perhaps I should before making a statement, but I was logged on reading the original thread when it disappeared! I assumed it was deleted and it was, but just from the US Coin Forum but not entirely from the boards. (note: how are you to know a thread has been moved unless you stumble upon it again?)

 

Thanks for the info TomB and congrats on the article you penned.

[Houston Investor]

this is getting insane

 

I wonder if CAC will decal some of my ICG Chuck E Cheese Pizza Tokens I had Graded. Would just tear me up if those awful coin doctors had gotten to some of those.

 

I tried to explain CAC to the gal checking my groceries today and she said "all those numbers and stuff about grading services is over my head and I don't know what PQ means but will their sticker be pretty?"

[Revenant]

this is getting insane

 

I wonder if CAC will decal some of my ICG Chuck E Cheese Pizza Tokens I had Graded. Would just tear me up if those awful coin doctors had gotten to some of those.

 

I tried to explain CAC to the gal checking my groceries today and she said "all those numbers and stuff about grading services is over my head and I don't know what PQ means but will their sticker be pretty?"

 

You keep saying "This is insane" or some variation thereof. It's repetitive and it adds nothing. You prove nothing by this unsupported comment.

 

Your story about the grocery lady also means nothing. I'm an engineering major and hang out with other engineering majors, many of whom are very smart people. If I just started trying to explain grading, the grading scale, TPGs, AND CAC in the same sitting then I'd get the same result that you did with her. The fact that she was confused has more to do with you dumping large amounts of info on her all at once than it does with the situation being all that wierd/confusing.

[Houston Investor]

Rev - you ad even less . And yes, I don't mind expressing my opinion - so what? When CAC goes online maybe you should go pay them a fortune in fees to tell you a coin is nice or way overpay for a coin simply because it has their sticker.

 

But when you bring coins to my table at a show, I am not going to offer you one cent over what I would pay for a non CAC stickered coin any more than I would pay $425 for a $35 coin just because the seller subjectively believes that coin has nice toning.

[James_OldeTowne]

Any chance the Coin Consortium will be dabbling in livestock? I did a google search, and this article popped up .

 

[James_OldeTowne]

What's more, the coin consortium has been fingered as a possible culprit in the slowing of the coin market in this eBay listing.

[Revenant]

Rev - you ad even less . And yes, I don't mind expressing my opinion - so what? When CAC goes online maybe you should go pay them a fortune in fees to tell you a coin is nice or way overpay for a coin simply because it has their sticker.

 

But when you bring coins to my table at a show, I am not going to offer you one cent over what I would pay for a non CAC stickered coin any more than I would pay $425 for a $35 coin just because the seller subjectively believes that coin has nice toning.

 

Well, I'll let you know the results just as soon as I actually pay $425 for a single coin. Since I'm a college student and most of my current collecting interests are focused on coins in the $25-100 dollar range I'll more than likely never use CAC's service. I happen to also disapprove of this venture but your narrow minded and persistent determination to hate it no matter what is hurting your position.

[Zoins]

What's more, the coin consortium has been fingered as a possible culprit in the slowing of the coin market in this eBay listing.

Is slowing down a good or bad thing for collectors?

[Revenant]

What's more, the coin consortium has been fingered as a possible culprit in the slowing of the coin market in this eBay listing.

Is slowing down a good or bad thing for collectors?

 

I would think it's good for a collector and bad for a dealer.

[ziggy29]

Is slowing down a good or bad thing for collectors?

Hard to say. On one hand, a slowdown might mean softer prices which is good for a collector still accumulating coins. On the other hand, that could keep a lot of good coins off the market when owned by people who don't *need* to sell, which is not so good.

 

[Houston Investor]

I wager the consortium will probably fold within a year of operation. They have published nothing about their fee structure which I suspect is probably as expensive as regular certification fees. If this is the case, once they have pulled in their initial rabid supporters for submission, the submissions will dry up and they will probably fold within a year or if still around become a non entity like some 3rd rate TPG.

 

The discussions about the consortium I have participated in at shows I have attended have brought mainly disbelief and then laughter from both collectors and dealers alike. I have many retail clients at shows who buy nothing but raw US and World Coins under $50. For these folks, CAC is a moot issue.

 

 

[Houston Investor]

Slowing of the coin market can be good for dealers building inventory.

 

I experienced this in the 1990 down market when I was starting my coin business - I was getting good retail money on the stuff I could sell (I refused to sell at a loss) and then replacing it with equivalent material for a lot less. Some solid retail clients who I could sell to in their homes (without competetion from other dealers like at a show) were a major cashflow cornerstone.

 

Sort of like if things are jammed up in the line, a good, fast option QB can get around end and then its a race to the end zone he can easily win.

[MarkFeld]

I wager the consortium will probably fold within a year of operation. They have published nothing about their fee structure which I suspect is probably as expensive as regular certification fees. If this is the case, once they have pulled in their initial rabid supporters for submission, the submissions will dry up and they will probably fold within a year or if still around become a non entity like some 3rd rate TPG.

 

The discussions about the consortium I have participated in at shows I have attended have brought mainly disbelief and then laughter from both collectors and dealers alike. I have many retail clients at shows who buy nothing but raw US and World Coins under $50. For these folks, CAC is a moot issue.

 

Just saving another priceless post of Parker's for next year. And one from the same person who expressed a "I'll believe it when I see it" sentiment regarding the very existence of CAC not too long ago.

[DirtyGoldMan]

I wager the consortium will probably fold within a year of operation. They have published nothing about their fee structure which I suspect is probably as expensive as regular certification fees. If this is the case, once they have pulled in their initial rabid supporters for submission, the submissions will dry up and they will probably fold within a year or if still around become a non entity like some 3rd rate TPG.

 

The discussions about the consortium I have participated in at shows I have attended have brought mainly disbelief and then laughter from both collectors and dealers alike. I have many retail clients at shows who buy nothing but raw US and World Coins under $50. For these folks, CAC is a moot issue.

 

 

The discussions about the consortium I have participated in with collectors and dealers alike have been mostly positive, though there are many lingering questions. Parker's (and like) comments are met with mostly disbelief and then laughter. I have many fellow collecting buddies who buy certified 19th century US classic coins for $2500 and up. For these folks, Parker's opinion is a moot issue.

 

 

[MikeKing]

excellent point

[goldrarities.com-migration]

The original thread wasn't nuked, WJ, it appears it was only moved to the Numismatic Marketplace.

 

 

Been away for a few days, see nothing has changed-hey, everyone is entitled to thier views, I just wish that everyone would stick to the facts.

 

 

The thread was moved not nuked. The information was posted as many here and the PCGS boards have been asking questions as to who will be participating.

 

oh-

 

the August 3rd Bluesheet an independent newsletter has more information about CAC, including sub fees if anyone is curious.

[DirtyGoldMan]

The thread was moved not nuked. The information was posted as many here and the PCGS boards have been asking questions as to who will be participating.

 

oh-

 

the August 3rd Bluesheet an independent newsletter has more information about CAC, including sub fees if anyone is curious.

 

I'm curious. What are the sub fees?

[goldrarities.com-migration]

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

 

 

It was missed because it never happened here or anywhere else, we pay for our advertising unlike many others who troll for customers with links to e-bay, web sites etc and don't pay for the ads just troll around.

 

[DirtyGoldMan]

To clarify one issue raised, there will be free stickering of coins for collectors at certain shows and select days.

[joejeweler-migration]

Well, ......what a subject to tackle on my very 1st post here! Some of you may already know a bit about me, as i have the various "Eye Appeal" Type sets posted in the Registry, and my main set is in the US Type Set catagory currently #13 in the rankings.

 

Here for you lazy types: http://coins.www.collectors-society.com/registry/coins/MySets_Listing.aspx?PeopleSetID=3337

 

..........now, with regard to the Collectors Acceptance Corporation startup enterprise, this is NOT really something new. There has been something very similar but in a much less encompassing series of coins.

 

In case you haven't caught on by now i am refering to the Eagle Eye "Photo Seal" as started by Rick Snow for Flying Eagle and Indian Head Cents mostly. In addition to his sticker he also supplies a sealed plastic card with a picture of the front of the holder (including the cert number),......which virtually eliminates any chance of removing and re-applying the actual sticker on another coin.

 

While no mention has been made by those announcing the Collectors Acceptance Corporation founding of this additional step,.......i wouldn't exactly rule it out down the line. I'm simply stating that this basic idea HAS worked in the past.

 

Personally, i only own 2 coins with the Photo Seal,.......a MS64 1858 Flying Eagle Cent,........and a PCGS 1877 MS65RB Indian Head. I will say, ESPECIALLY for the 1877 coin, that i have a better feeling owning this coin in the stated grade than were it not photo sealed. It's nice to have an expert in this area agreeing with a "key" coin's grade, which as most of you have come to realize is not always the case! There are still a lot of ugly and overgraded coins in the marketplace, and i for one am limited in the amount of time i can spend serching out the accurately graded ones.

 

Having experienced eyes trimming out the bottom rung and dreg coins will allow me to spend more time searching for really nice coins in any stated grade. And certainly when we're talking rather large cash expendutures it's nice to know the quality is REALLY there!

 

For coins under a few hundred dollars it shouldn't be necessary to worry about it. But step up to $5K to $30K (and more), and it's another matter all together!

 

.......so i say give it a chance. The marketplace will ultimately decide if it's worth keeping around. Another group of experienced eyes evaluating my coins before i buy will let me sleep a little better at night!

 

 

[rrantique]

First welcome to the forum and hope to see you post more often. Would like to see some of those great type coins here.Say a thousand words. Looking forward to seeing the post in the coin forum.

[Houston Investor]

Maybe some of you should go buy stock in CAC then.