Mea Culpa II: Coin gets stickered, offering price goes up 5%

[DirtyGoldMan]

Well, I have finally seen it happen. A coin that was previously unstickered in a dealer's inventory is now stickered, and the price went up around 5% after the stickering.

 

Ironically, I looked at the coin a couple of times and thought, "I wonder why this coin is not stickered." The dealer is someone who has a mixed inventory of CAC-approved and non-CAC-approved coins.

 

I do not want to call attention to the coin or the dealer (and will not answer any inquiries), but suffice to say, this is the first time I have seen such behavior.

[MarkFeld]

Robert, what is the approximate asking price of the coin? I asked because, for example, If it's $10,000 the 5% price bump is a much bigger deal than if it's $1000.

[ctrl-migration]

5% is 5% regardless of actual value, I'd say. And why wouldn't people raise the price? It's a (usually) for-pay service that is supposed to guarantee a higher quality coin. CAC wants higher prices to be a result of their service, that's the point.

[James_OldeTowne]

5% is 5% regardless of actual value, I'd say. And why wouldn't people raise the price? It's a (usually) for-pay service that is supposed to guarantee a higher quality coin. CAC wants higher prices to be a result of their service, that's the point.

To the defense of the seller raising the price, 5% may be necessary to cover the cost of shipping the coin, and the cost of review. This is little different than adding the cost of certification to a coin's price.

 

Just for the sake of argument, let's say that the cost of the review was $10, and shipping was $5. It would take only a $300 coin for this overhead to represent a 5% price increase.

[DirtyGoldMan]

Robert, what is the approximate asking price of the coin? I asked because, for example, If it's $10,000 the 5% price bump is a much bigger deal than if it's $1000.

 

It's in the $10,000 dollar range.

[MarkFeld]

Robert, what is the approximate asking price of the coin? I asked because, for example, If it's $10,000 the 5% price bump is a much bigger deal than if it's $1000.

 

It's in the $10,000 dollar range.

Out the scoundrel!

[MikeInFL]

I would pay 5 points for enhanced liquidity at published rates provided they are more than made up for by the delta between greysheet and CAC-bid.

[MarkFeld]

I would pay 5 points for enhanced liquidity at published rates provided they are more than made up for by the delta between greysheet and CAC-bid.

Or what about between bluesheet and whatever the CAC bid is?

 

I'm curious to see what CAC's detractors think of this price-hike compared to that seen in a number of cases when a coin is crossed to a PCGS holder?

[MikeInFL]

I'm curious to see what CAC's detractors think of this price-hike compared to that seen in a number of cases when a coin is crossed to a PCGS holder?

 

That's a very good point.

 

But please don't confuse anyone with logic -- particularly when there's an agenda to be pushed or a preconception to solidify.

[gmarguli]

I'm curious to see what CAC's detractors think of this price-hike compared to that seen in a number of cases when a coin is crossed to a PCGS holder?

 

Stupidity knows no bounds.

[ctrl-migration]

But please don't confuse anyone with logic -- particularly when there's an agenda to be pushed or a preconception to solidify.

[MikeInFL]

Very mature.

 

 

[MikeInFL]

p.s. Kidding aside... Although flippant (which is my nature), the comment was serious, as I truly believe that people are not thinking rationally when it comes to this topic. Many made up their minds beforehand (and I believe you are one of those), and others just aren't thinking clearly/logically -- as the responses to these threads seem to indicate to me. Said another way, it is one thing to be skeptical, it's quite another to have made your mind up before the organization is fully-functioning.

[ctrl-migration]

I've said clearly that I think the green sticker is a good idea as a visible, second expert opinion. After reading the long interview, I think there are more good motives than I thought before, although I still hold that profit is a very big part - this is by no means simply a community charity. I have specific doubts and concerns and don't appreciate you dismissing any such thing as simple ignorance of a lesser, sealed mind.

[MikeInFL]

I don't think anyone portayed the CAC as a community charity. On the flip side, many, including yourself, have said it is "all about the money". That said, I apologize if my response seemed dismissive to you -- that was not my intent (and I did use the word "many" as opposed to "all"). Have a nice weekend...Mike

[Houston Investor]

I was always curious about the before and after. So what if he did raise the price 5%? I think I would too after shipping a $10,000 coin around the country. Seems rather modest. Regardless, he still has to sell it to get all the money. Lets say your a project engineer and you just got your MBA. Your not going to try to get more money?

 

The seller is a businessman and I would wager he is not expecting his customers to be as observing or critical as some in here. Or he may not care as he is trying to get the most for his CAC expense incurred.

[rons]

 

Stupidity knows no bounds.

 

Greg, You are the best

[IrishMike]

Not all collectors, including myself have the time, inclination or desire to become an expert on what we collect and rely on TPG's, other experts and opinions. It wouldn't bother me to pay more for a coin that had been CAC stickered, however I am not in the buying mode at the present time.

 

I would be extremely upset if I had purchased a coin that had been cracked out of a holder and messed with for whatever reason without full disclosure. I don't consider that as being stupid as some would want you to believe, but rather having been taken advantage of someone who puts profits before all else. Its even more disconcerting to me to see folks defend this behavior.

 

If there weren't people who rationalized this type of behavior maybe there would be less of a need for TPG's and CAC watchdogs.

[MikeInFL]

I'm curious to see what CAC's detractors think of this price-hike compared to that seen in a number of cases when a coin is crossed to a PCGS holder?

 

Stupidity knows no bounds.

 

Whose stupidity, the CAC's detractors or the market in general? Both?

 

Just wondering...Mike