• When you click on links to various merchants on this site and make a purchase, this can result in this site earning a commission. Affiliate programs and affiliations include, but are not limited to, the eBay Partner Network.

Archived

This topic is now archived and is closed to further replies.

Is the CAC sticker Fairy floating around the Heritage coin vaults ?

Started by carson city,

63 posts in this topic

carson city

carson city

Posted
Posted

About a month ago, I consigned several Morgan dollars to Heritage for their upcoming FUN auction in Orlando, FL. Yesterday, when the on-line catalogue was published, I was surprised and dismayed that one of my consigned coins was designated in the title as CAC ! ! !

 

I was surprised that this "service" is even being used by Heritage Auction and dismayed that only one of my coins was so designated.

 

It is apparent that CAC has an unpublished agreement with HA to "screen" their consigned coins.

 

Why is this additional "service" not disclosed both by Heritage Auction and / or CAC to the consignors ?

Link to comment
Share on other sites
DirtyGoldMan

DirtyGoldMan

Posted
Posted
The irony, indeed !

Does the consignment agreement give Heritage the right to try for upgrades or to submit a coin to CAC for review?

 

That is a very interesting question which I have asked privately, behind the scenes.

 

IMO, Heritage should do whatever it takes to sell the coin for as much as possible. So long as Heritage has absorbed the cost for CAC review, I do not see a problem with it. If the coin does not sell and the owner does not like the sticker, he/she can peel it off and be none the worse for the wear.

 

Upgrades are another issue which probably should be discussed with the Heritage rep when making the consignment.

 

 

Link to comment
Share on other sites
MarkFeld

MarkFeld

Posted
Posted
The irony, indeed !

Does the consignment agreement give Heritage the right to try for upgrades or to submit a coin to CAC for review?

I don't know and I admittedly don't want to go to the trouble to find out. But I wonder if perhaps there was more than one example of the same date and grade coin involved and the consignor and/or Heritage got mixed up about which one was which.
Link to comment
Share on other sites
MikeKing

MikeKing

Posted
Posted

I guess it all depends on what would drive the top two bidders.

But I think somewhere in the Heritage agreement, might be a statement that allows them to do stuff like that with consigned coins. I forget exactly what it says.

 

I could be wrong, but that's what I vaguely remember.

Link to comment
Share on other sites
gmarguli

gmarguli

Posted
Posted
On the other hand he must have some nice coins for sale.

 

Yep, at least we know that they're at least at the extremely low end of the grading scale.

Link to comment
Share on other sites
carson city

carson city

Posted
  • Author
Posted

Morrored Morgan---To answer your question the CAC stickered coin that Heritage included in their description is my 1891-CC lot # 5516. My other notable coin is in Platinum Night 1879-CC lot # 2973. Thanks for your interest.

Link to comment
Share on other sites
rbrown4

rbrown4

Posted
Posted

Hey CC, I have been in and out of the forums lately so may not have been keeping up. How is it that you have CAC stickered coins, I thought you were totally against them. I truly mean no disprespect but am interested.

 

Rey

Link to comment
Share on other sites
MikeInFL

MikeInFL

Posted
Posted
About a month ago, I consigned several Morgan dollars to Heritage for their upcoming FUN auction in Orlando, FL. Yesterday, when the on-line catalogue was published, I was surprised and dismayed that one of my consigned coins was designated in the title as CAC ! ! !

 

I was surprised that this "service" is even being used by Heritage Auction and dismayed that only one of my coins was so designated.

 

It is apparent that CAC has an unpublished agreement with HA to "screen" their consigned coins.

 

Why is this additional "service" not disclosed both by Heritage Auction and / or CAC to the consignors ?

 

This is the funniest/most ironic turn of events I've heard in a long, long time. lol

 

Question #1 -- Would you please provide a link to the auction?

 

Question #2 -- Will Parker's view of the CAC change when/if this coin realizes more than 1.62 times CDN bid? hm

 

Just wondering...Mike

Link to comment
Share on other sites
jesbroken

jesbroken

Posted
Posted

CC, besides being funny as HE*L, now you can actually have a comparison to see if your coin actually sells higher than without the sticker. Great opportunity for all on the forum to witness. Good luck as far as your profit realized and maybe we all will see any true worth to CAC.

Link to comment
Share on other sites
PerryHall

PerryHall

Posted
Posted
CC, besides being funny as HE*L, now you can actually have a comparison to see if your coin actually sells higher than without the sticker. Great opportunity for all on the forum to witness. Good luck as far as your profit realized and maybe we all will see any true worth to CAC.

 

How can you make a comparison unless you sell the same coin twice--once with the CAC sticker and once without the CAC sticker? A premium quality coin should bring a premium price with or without the CAC sticker.

Link to comment
Share on other sites
MarkFeld

MarkFeld

Posted
Posted
CC, besides being funny as HE*L, now you can actually have a comparison to see if your coin actually sells higher than without the sticker. Great opportunity for all on the forum to witness. Good luck as far as your profit realized and maybe we all will see any true worth to CAC.

 

How can you make a comparison unless you sell the same coin twice--once with the CAC sticker and once without the CAC sticker? A premium quality coin should bring a premium price with or without the CAC sticker.

Not only that, but also sell the same coin twice at the same time. ;) Because if it is sold at different times, it could fairly be argued that it was the timing that accounted for the price difference.
Link to comment
Share on other sites
jackson64

jackson64

Posted
Posted

I actually laughed out loud about this one...just too funny............truth be told I don't like the idea of Heritage allowing coins to be stickered...there can be only one motive since they are a business...they hope that the sticker will drive bidding up

Truly a dark, dark day for collectors...no more cherry-picking PQ and undergraded coins at Heritage..now they will be marked to garner premium bidding..

Link to comment
Share on other sites
DirtyGoldMan

DirtyGoldMan

Posted
Posted
I actually laughed out loud about this one...just too funny............truth be told I don't like the idea of Heritage allowing coins to be stickered...there can be only one motive since they are a business...they hope that the sticker will drive bidding up

Truly a dark, dark day for collectors...no more cherry-picking PQ and undergraded coins at Heritage..now they will be marked to garner premium bidding..

 

Heritage's primary responsibility is to garner as much money as possible for consignors, not to be a fertile ground for cherrypickers. If I were a consignor, and I have been in the past, I would want Heritage to do whatever was legally and ethically possible to maximize the hammer for my consignment.

Link to comment
Share on other sites
jackson64

jackson64

Posted
Posted

I agree..and said as much, they are in business to get the highest price possible...I said it was a dark day for COLLECTORS...great day for dealers/consigners with a nice inventory and plenty of PQ coins..

Link to comment
Share on other sites
Tradedollarnut

Tradedollarnut

Posted
Posted

I said it was a dark day for COLLECTORS

 

With all due respect, the vast majority of nice coins are currently owned by COLLECTORS. Thus the vast majority of any increase in value goes to COLLECTORS.

Link to comment
Share on other sites
Mirrored Morgan

Mirrored Morgan

Posted
Posted

Checked out your coins CC and they are outstanding Morgan Dollars. All three have the looks of being semi-prooflike from what I can see from the pictures. I do see why the 93-CC MS65 went for moon money and you might just see the others do the same. One thing I did notice is that all of them reside in the OGH's, have you had them in your collection for a long time? Coins like this do not come around that often.

Link to comment
Share on other sites
Go to topic listing