Here is the best CAC coin ever!

[MBA101]

http://coins.ha.com/common/view_item.php?Sale_No=1110&Lot_No=5886

 

And it is commanding quite the premium, too!

[harvey8542]

I saw that 1 ATS and put a bid on it needless to say I am no longer winning.

[123cents]

Nothing like a premium PO-01!!

[TomB]

Adrian had wanted $450 for this coin when it was on his website. Let's see what the open auction determines its value to be.

[MunkyMan95]

I'm the highest bidder!

[Mozin]

So, looks like Anaconda is auctioning off most of their inventory. Are they going out of business?

[physics-fan3.14]

Adrian had wanted $450 for this coin when it was on his website. Let's see what the open auction determines its value to be.

 

I don't get it. I mean, I know that there are people who collect the bottom rung coins, but I just don't get it. Is there really the supply/demand to justify that kind of price?

[MunkyMan95]

So, looks like Anaconda is auctioning off most of their inventory. Are they going out of business?

 

They have officially gone out of business.

[BankNote1]

I had heard that he had headed off to the Islands somewhere?

[SkyMan]

I had heard that he had headed off to the Islands somewhere?

 

Costa Rico.

[physics-fan3.14]

I had heard that he had headed off to the Islands somewhere?

 

Costa Rico.

 

Why did he do that?

[WoodenJefferson]

I had heard that he had headed off to the Islands somewhere?

 

Costa Rico.

 

Why did he do that?

Anaconda to sell inventory @ Heritage, Auction link

[TomB]

I will repeat the details here because the three threads regarding this information have been pulled from the PCGS website. I do not feel badly by repeating the information because the information came directly from Adrian and was supported as truth by Brandon. All information below is as I remember it from the PCGS boards and should be essentially accurate unless both Adrian and Brandon were involved in an elaborate hoax put upon the members of the boards. Here goes-

 

Adrian and his wife divorced and she obtained the law practice while he obtained the coin business. He is selling the coins and has already moved to Costa Rica where he is living with a pair of sisters, ages 22-and 18-years old, along with a third sister 15-years old. The older sisters are Adriana and Nancy while the younger sister is Natalia. Adrian recently purchased the largest commercially available Hummer (vehicle) as well as property and a home in Costa Rica. He is involved with a real estate development plan to lure high net-worth Americans (and likely Europeans, too) into this enclave. Additionally, he wrote about a dairy farm and another, more extreme sounding, project. He posted images of the home, the surrounding property, the younger sister and himself with his arms wrapped around the two older sisters on the boards.

 

Brandon has received, or will receive, a $250k bonus from Adrian and the inventory of ARC has either been returned to the owners (consignors) or is being sold through Heritage. The ARC business name will be sold through ebay at auction as well as a two-year contract to work with Brandon.

 

Please understand that I am not making this up and that there have been at least three threads on the PCGS boards that dealt with this and that have been deleted. Also, please keep in mind that it was Adrian who started these threads, gave us the information and posted the images. Lastly, it was Brandon who stated that all of this was true.

[MunkyMan95]

For anyone that doesn't believe Tom, I read the threads as well, and that is basically what happened.

[WoodenJefferson]

I was there for the first one...he (Adrian) posted about midnight PST right after he discharged himself out of the hospital after a minor operation, I think he still might have been a bit woosey from the anestisia but stated more or less what TomB has stated.

 

At first I thought it to be an elaborate hoax and still maybe all of it is, but when I read about their inventory being auctioned off, I then realized something was amiss.

 

Their web-site lends no credence to their demise, looks like business as usual, but what goes on behind the scenes could be different.

 

One way or another I don't think Uncle Sam has jurisdiction in Costa Rica?

 

If you visit Adrian's compound and he offers you cool aide, especially grape...do not accept.

[physics-fan3.14]

Interesting story... actually a fascinating story. Mystery, intrigue, large amounts of money, Central American enclaves... sounds like a good movie plot if we can find a way to add some explosions.

[BillJones]

Adrian had wanted $450 for this coin when it was on his website. Let's see what the open auction determines its value to be.

 

I don't get it. I mean I know that there are people who collect the bottom rung coins, but I just don't get it. Is there really the supply/demand to justify that kind of price?

 

I don't get it either , but there are those who always want to be the best at what they do. So it seems that putting together the worst set ever (by honest wear) has come to be a new challenge. In the beginning these bottom board coins were cheap, but once it became a part of the PCGS boards to collect the worst set, the prices have been going up.

 

Years ago a few full time dealers worked on assembling the worst old commemorative set. Some coins, like the Antietam, which is rarelly seen below MS-64, is one of the "key issues."

[WoodenJefferson]

To keep this train back on the tracks about PO-1’s being CAC’ed and passing with a sticker is beyond my comprehension of the goals for the original purpose of that consortium?

 

Since their operation started, we have seen many coins that have great eye appeal and are of exceptional quality for the grade. To me a PO-1 does not carry these qualities, they only carry a “uniqueness” about them because of the significant amount of wear. To me, they have gone beyond their scope and are stickering coins with pure profit motivated ideas in that others should send in their “dregs” for justification, so they too can increase the value of their low-ball grades.

 

Also, what safeguards are placed into effect to prevent one sticker from being removed from an acceptable graded coin and affixed to another slab with questionable qualities?

 

[BillJones]

To keep this train back on the tracks about PO-1’s being CAC’ed and passing with a sticker is beyond my comprehension of the goals for the original purpose of that consortium?

 

I think that the purpose of CAC is to attest that the coin in question is properly graded for the grade that has been assigned to it. Therefore a "perfect" Poor-1 could be eligible for a CAC sticker.

 

Also, what safeguards are placed into effect to prevent one sticker from being removed from an acceptable graded coin and affixed to another slab with questionable qualities?

 

I'm not about to try it with the one CAC coin I own, which is a Gobrecht dollar, but I think if you peal the sticker off the holder, it won't stick to anything else. Of course one could try to use some Super Glue, maybe you could stick on to another coin.

[DirtyGoldMan]

To keep this train back on the tracks about PO-1’s being CAC’ed and passing with a sticker is beyond my comprehension of the goals for the original purpose of that consortium?

 

I think that the purpose of CAC is to attest that the coin in question is properly graded for the grade that has been assigned to it. Therefore a "perfect" Poor-1 could be eligible for a CAC sticker.

 

Also, what safeguards are placed into effect to prevent one sticker from being removed from an acceptable graded coin and affixed to another slab with questionable qualities?

 

I'm not about to try it with the one CAC coin I own, which is a Gobrecht dollar, but I think if you peal the sticker off the holder, it won't stick to anything else. Of course one could try to use some Super Glue, maybe you could stick on to another coin.

 

I have peeled off one sticker and it was very challenging to remove. It seems that it would be exceedingly difficult to remove it intact enough to place on another holder. But no one would care anyway, right?

[WoodenJefferson]

Statement from CAC web site:

 

Due to today’s selective collector/dealer, an ever increasing number of certified coins on the market are considered low end for their grade. CAC holds coins to a higher standard so you can be confident in the value of yours. We verify previously graded coins and award our sticker only to those coins that meet the standard for today’s sophisticated buyer

 

Q&A

I noticed that CAC uses the term “premium quality” to describe coins that receive a CAC sticker. How does CAC define premium quality?

 

For many years, coin dealers and advanced collectors have used the letters A, B, and C among themselves to further describe coins. C indicates low-end for the grade, B indicates solid for the grade, and A indicates high-end. CAC will only award stickers to coins in the A or B category. C coins, although accurately graded, will be returned without a CAC sticker

 

End

 

So, what CAC is saying is that this PO-1 is considered an A or B category coin in collector circles, or in other words, “premium quality” for it’s grade? I don’t know guys if I buy into this or not for this caliber of coin, it just seems to defeat the whole purpose of what I was learning in regards to the concepts of the CAC.

 

[BillJones]

There are truly choice coins in the low grades. The basic condition from the standpoint wear might not be pleasing to many collectors, but from within the context of their grade, they are “choice.” For example, years ago I saw a 1793 Wreath cent in an NGC FR-2 holder. The coin was worn smooth around the edges, and only the central devices (the distinctive head) were easily discernible. The date was not readable. Yet, the coin had hard light brown surfaces with no porosity. There were no significant marks, spots or scratches. If the coin had had more detail, you could not have asked for better surfaces on a Wreath Cent.

 

Such a coin could have been called “PQ” for the grade because given what it no one could have asked more from a coin that graded Fair. As a of course the coin sold to a dealer almost immediately, and any collector whose budget was limited to such a grade would have purchased it very quickly if he or she had seen even a limited number of similarly graded pieces.

 

[WoodenJefferson]

1853-O Seated half Dollar 1.3 million minted 90% silver vs.1793 Wreath Cent 63k mintage of 100% copper

 

Bill, I fully understand your analogy of "choice" coins in an advanced state of wear and I would not have a problem with CAC putting a sticker on a 1793 coin due to rarity as part of the equation, but I do have a problem with one where the amount minted was twice as much along with being two to three times harder than that 1793 copper.

 

It will take more convincing for me to believe that this particular coin should receive the CAC pedigree. There has to be some sort of motivation behind this particular PO-01 to qualify as that "choice" example.

 

Does the pop 1 have anything to do with this?

[MarkFeld]

1853-O Seated half Dollar 1.3 million minted 90% silver vs.1793 Wreath Cent 63k mintage of 100% copper

 

Bill, I fully understand your analogy of "choice" coins in an advanced state of wear and I would not have a problem with CAC putting a sticker on a 1793 coin due to rarity as part of the equation, but I do have a problem with one where the amount minted was twice as much along with being two to three times harder than that 1793 copper.

 

It will take more convincing for me to believe that this particular coin should receive the CAC pedigree. There has to be some sort of motivation behind this particular PO-01 to qualify as that "choice" example.

 

Does the pop 1 have anything to do with this?

I doubt that the population had anything, whatsoever to do with it. For whatever reason, someone submitted the coin to CAC. And, CAC has received some criticism for reviewing and awarding a sticker to the coin. As a practical matter, however, what choice did they have, as long as the coin was an eligible type and was solid or better quality for the assigned grade? Think of the complaining that would have occurred it CAC had refused to review the coin - "They only care about high grade, valuable dealer coins" or something like that.

[NoTwilight]

As I posted across the street (it was ignored because bashing is much more fun), if I was looking for a PQ P01 coin I'd be look for good surfaces and even wear, not variations of the technical grade. --jerry

[kranky]

But if the goal of slabbing PO-1 coins is to have the "worst" set, wouldn't a CAC sticker kind of defeat the purpose? I would think a PO-1 coin that didn't earn a CAC sticker would be a superior example compared to one that did sticker if you were pursuing that type of set.

[cmerlo1-migration]

I posted ATS:

 

I think the sticker means it could upgrade to FR-2...

[RGT]

It's good that it didn't get a gold sticker. That would certainly lower it's value.

[WoodenJefferson]

I guess one has to go about this like reverse engineering to fully understand just what is going on here.

[Houston Investor]

I have peeled off one sticker and it was very challenging to remove. It seems that it would be exceedingly difficult to remove it intact enough to place on another holder. But no one would care anyway, right?

 

I like your pioneering spirit and your concept is very interesting. Perhaps a hobby knife might help this kind of project. I believe some would care - especially the guy peeling it off his MS 64 1881-S dollar and putting it on his 1913-S low end MS 65 Saint and then getting more money for it. But what would we call these guys - the CAC doctors? Or for that matter what would peeled off CAC stickers go for on the Bay?