Saw This Coming....

[jackson64]

It has been argued, even recently in a thread titled "which would you prefer"...that the NGC* and the CAC sticker are apples and oranges.

 

Many have said that the STAR* is a designation of exceptional eye appeal and that the CAC sticker is supposed to be nothing more than an approval of the grade on the slab.

 

However many listings and ads in ebay and CW have taken the liberty of calling the sticker a representation of a PQ or even an undergraded coin. Now even Teletrade is saying in their descriptions, "features a green CAC sticker indicating the exceptional appearance of this coin"...

 

I wonder if any among those with CAC interests will be contacting Teletrade or CoinWorld advertisers to inform them that the sticker simply means that they agree with the grade on the label? (rhetorical question of course) http://www.teletrade.com/coins/lot.asp?auction=2581&lot=1487

[coinman1794]

When i first heard about CAC, I heard that it was going to validate the grades assigned by NGC and PCGS; an affirmation or rejection of the TPG grade. When the CAC website first went up, however, their language stated that the sticker was for coins that were PQ. They were unintentianally misusing the term PQ becuase what they actually meant was solid for the grade. Finally, they corrected their wording, but as they became more and more known, confussion arose. Their initial vagery has lead to a lot of this confusion, in my opinion, and they were very wise to correct it when they did.

 

[EZ_E]

 

However many listings and ads in ebay and CW have taken the liberty of calling the sticker a representation of a PQ or even an undergraded coin. Now even Teletrade is saying in their descriptions, "features a green CAC sticker indicating the exceptional appearance of this coin"...

 

 

That's why I wrote this editorial to Coin World:

 

TO CAC OR NOT TO CAC, THAT IS THE QUESTION

 

I read with interest the point-counterpoint opinions in the last issue of Coin World. Both arguments have their merits but, as in life, things are seldom so black and white. There are advantages and disadvantages to the CAC concept. Just look at all of the numerous CAC threads on the NGC coin forums and one will find that opinions do not come in short measure.

 

The primary advantage of the CAC service is to provide the buyer a measure of security in their purchases since all coins are not created nor graded equal. This service would serve the novice collector best. The rookie numismatist will find that the numismatic learning curve will not be quite so steep if they stick with CAC approved coins. CAC can also be beneficial to the advanced collector who does not have the luxury of viewing a certain coin in hand prior to a sale. To recap, CAC is custom designed for those who can not or are not in a position to grade by filtering out the low end coins found in the major TPGS slabs.

Yet, it is not a perfect system. A CAC sticker by no means implies a PQ, premium quality coin, although it may very well be. It merely acknowledges that a specific coin meets the minimum CAC standard for the grade assigned. Unfortunately, some unscrupulous dealers are marketing all of their CAC coins as PQ, deserving of a hefty premium regardless if it is true or not. Granted, a high-end, eye-appealing coin is most definitely worthy of a premium.This has been true since the early days of numismatics and is nothing new to advanced collectors.

 

If David Hall's original third party grading service model remained static then there would never have been the need for CAC. However, grading standards fluctuate and evolve over time. That is why there are so many previously graded AU Bust Halves now in mint state holders. Market grading has become the norm, which serves more as a pricing service than a grading service. In addition to the inconsistencies market grading has tossed into the equation, one must also factor in the fact that the top grading services often either tighten or loosen their standards over time. This is done to either manipulate their image in the marketplace or to encourage more submissions. So, did John Albanese have legitmate reasons for starting CAC? Most definitely! Are CAC's decisions always spot on? Of course not, but their opinion does add an additional measure of security to one's coin purchases.

 

Most any coin collector knows that there are many pitfalls along the way. This is why a numismatic education is crucial. Everytime a collector buys a raw coin, there is the risk that the coin is an overgraded, cleaned and/or problem coin. The same goes for slabbed coins in the less than reputable holders. Even advanced collector can be duped since the 'coin doctors' prevalent in our hobby can often mask most any kind of flaw or problem. But there is a grass-roots movement among the collector and dealer base that are working to nullify the profits these doctors make. Laura Sperber of Legend Numismatics is to be commended for her efforts to curb this practice.

 

I personally faced the brutal reality of the coin world in my rookie days and was outright lied to and cheated by multiple dealers. It was not until I gained a knowledgeable mentor that my education commenced in earnest. In addition, being an active member of the NGC coin boards has enhanced my experience in the hobby. If CAC existed in my early days in the hobby, then my initial losses through bad buys would have been reduced drastically.

 

In conclusion, I personally endorse the CAC concept with a caveat. Do not assume that just because a coin has the green CAC sticker that the coin is actually worth a premium. Happy collecting and may your coin purchase decisions always be a sound one!

[michael]

most dealersi see that are cac authrozed dealers and also a large auction company itself have been calling cac approved and stickered coins PQ high end for the grade

 

it is like talking to the wall with trying to get the users whom should know better to use the correct terminology

 

 

[Conder101]

They know better but it is to their advantage not to.

[CHABSENTIA]

 

However many listings and ads in ebay and CW have taken the liberty of calling the sticker a representation of a PQ or even an undergraded coin. Now even Teletrade is saying in their descriptions, "features a green CAC sticker indicating the exceptional appearance of this coin"...

 

 

That's why I wrote this editorial to Coin World:

 

TO CAC OR NOT TO CAC, THAT IS THE QUESTION

 

I read with interest the point-counterpoint opinions in the last issue of Coin World. Both arguments have their merits but, as in life, things are seldom so black and white. There are advantages and disadvantages to the CAC concept. Just look at all of the numerous CAC threads on the NGC coin forums and one will find that opinions do not come in short measure.

 

The primary advantage of the CAC service is to provide the buyer a measure of security in their purchases since all coins are not created nor graded equal. This service would serve the novice collector best. The rookie numismatist will find that the numismatic learning curve will not be quite so steep if they stick with CAC approved coins. CAC can also be beneficial to the advanced collector who does not have the luxury of viewing a certain coin in hand prior to a sale. To recap, CAC is custom designed for those who can not or are not in a position to grade by filtering out the low end coins found in the major TPGS slabs.

Yet, it is not a perfect system. A CAC sticker by no means implies a PQ, premium quality coin, although it may very well be. It merely acknowledges that a specific coin meets the minimum CAC standard for the grade assigned. Unfortunately, some unscrupulous dealers are marketing all of their CAC coins as PQ, deserving of a hefty premium regardless if it is true or not. Granted, a high-end, eye-appealing coin is most definitely worthy of a premium.This has been true since the early days of numismatics and is nothing new to advanced collectors.

 

If David Hall's original third party grading service model remained static then there would never have been the need for CAC. However, grading standards fluctuate and evolve over time. That is why there are so many previously graded AU Bust Halves now in mint state holders. Market grading has become the norm, which serves more as a pricing service than a grading service. In addition to the inconsistencies market grading has tossed into the equation, one must also factor in the fact that the top grading services often either tighten or loosen their standards over time. This is done to either manipulate their image in the marketplace or to encourage more submissions. So, did John Albanese have legitmate reasons for starting CAC? Most definitely! Are CAC's decisions always spot on? Of course not, but their opinion does add an additional measure of security to one's coin purchases.

 

Most any coin collector knows that there are many pitfalls along the way. This is why a numismatic education is crucial. Everytime a collector buys a raw coin, there is the risk that the coin is an overgraded, cleaned and/or problem coin. The same goes for slabbed coins in the less than reputable holders. Even advanced collector can be duped since the 'coin doctors' prevalent in our hobby can often mask most any kind of flaw or problem. But there is a grass-roots movement among the collector and dealer base that are working to nullify the profits these doctors make. Laura Sperber of Legend Numismatics is to be commended for her efforts to curb this practice.

 

I personally faced the brutal reality of the coin world in my rookie days and was outright lied to and cheated by multiple dealers. It was not until I gained a knowledgeable mentor that my education commenced in earnest. In addition, being an active member of the NGC coin boards has enhanced my experience in the hobby. If CAC existed in my early days in the hobby, then my initial losses through bad buys would have been reduced drastically.

 

In conclusion, I personally endorse the CAC concept with a caveat. Do not assume that just because a coin has the green CAC sticker that the coin is actually worth a premium. Happy collecting and may your coin purchase decisions always be a sound one!

 

Why didn't you include the other side of the argument that was written by the Person with the 2nd highest number of overall registry points on here?

[MarkFeld]

 

However many listings and ads in ebay and CW have taken the liberty of calling the sticker a representation of a PQ or even an undergraded coin. Now even Teletrade is saying in their descriptions, "features a green CAC sticker indicating the exceptional appearance of this coin"...

 

 

That's why I wrote this editorial to Coin World:

 

TO CAC OR NOT TO CAC, THAT IS THE QUESTION

 

I read with interest the point-counterpoint opinions in the last issue of Coin World. Both arguments have their merits but, as in life, things are seldom so black and white. There are advantages and disadvantages to the CAC concept. Just look at all of the numerous CAC threads on the NGC coin forums and one will find that opinions do not come in short measure.

 

The primary advantage of the CAC service is to provide the buyer a measure of security in their purchases since all coins are not created nor graded equal. This service would serve the novice collector best. The rookie numismatist will find that the numismatic learning curve will not be quite so steep if they stick with CAC approved coins. CAC can also be beneficial to the advanced collector who does not have the luxury of viewing a certain coin in hand prior to a sale. To recap, CAC is custom designed for those who can not or are not in a position to grade by filtering out the low end coins found in the major TPGS slabs.

Yet, it is not a perfect system. A CAC sticker by no means implies a PQ, premium quality coin, although it may very well be. It merely acknowledges that a specific coin meets the minimum CAC standard for the grade assigned. Unfortunately, some unscrupulous dealers are marketing all of their CAC coins as PQ, deserving of a hefty premium regardless if it is true or not. Granted, a high-end, eye-appealing coin is most definitely worthy of a premium.This has been true since the early days of numismatics and is nothing new to advanced collectors.

 

If David Hall's original third party grading service model remained static then there would never have been the need for CAC. However, grading standards fluctuate and evolve over time. That is why there are so many previously graded AU Bust Halves now in mint state holders. Market grading has become the norm, which serves more as a pricing service than a grading service. In addition to the inconsistencies market grading has tossed into the equation, one must also factor in the fact that the top grading services often either tighten or loosen their standards over time. This is done to either manipulate their image in the marketplace or to encourage more submissions. So, did John Albanese have legitmate reasons for starting CAC? Most definitely! Are CAC's decisions always spot on? Of course not, but their opinion does add an additional measure of security to one's coin purchases.

 

Most any coin collector knows that there are many pitfalls along the way. This is why a numismatic education is crucial. Everytime a collector buys a raw coin, there is the risk that the coin is an overgraded, cleaned and/or problem coin. The same goes for slabbed coins in the less than reputable holders. Even advanced collector can be duped since the 'coin doctors' prevalent in our hobby can often mask most any kind of flaw or problem. But there is a grass-roots movement among the collector and dealer base that are working to nullify the profits these doctors make. Laura Sperber of Legend Numismatics is to be commended for her efforts to curb this practice.

 

I personally faced the brutal reality of the coin world in my rookie days and was outright lied to and cheated by multiple dealers. It was not until I gained a knowledgeable mentor that my education commenced in earnest. In addition, being an active member of the NGC coin boards has enhanced my experience in the hobby. If CAC existed in my early days in the hobby, then my initial losses through bad buys would have been reduced drastically.

 

In conclusion, I personally endorse the CAC concept with a caveat. Do not assume that just because a coin has the green CAC sticker that the coin is actually worth a premium. Happy collecting and may your coin purchase decisions always be a sound one!

 

Why didn't you include the other side of the argument that was written by the Person with the 2nd highest number of overall registry points on here?

Perhaps because he wanted to provide HIS OWN OPINION, not that of another person?

[Revenant]

Why didn't you include the other side of the argument that was written by the Person with the 2nd highest number of overall registry points on here?

 

Yes, becuase we all KNOW that the number of registry points a person has is directly related to the level of knowledge and insight the person has on the subject.

[Houston Investor]

Cunning sellers will use the CAC label to their advantage just like they use any other selling point like the NGC star. With the great block provided by Teletrade about the "exceptional quality" of CAC coins this should be no surprise. There is no doubt CAC can pick out nice, solid for the grade (if not PQ) coins. Look at the heavy hitters they have on their team.

 

I bought a lot of nice CAC coins over labor day weekend at Teletrade. It seems a lot of the other bidders were asleep or out on the boat with the GF. I could not believe how cheap I got some of them. Believe me, I will be asking all the money in selling them!

[Conder101]

Why didn't you include the other side of the argument that was written by the Person with the 2nd highest number of overall registry points on here?

Well to do so would be a copyright infringement. He can post his own comments because he still owns the rights to them.

[BankNote1]

I received a note from Ian Russell and he stated that Teletrade was going to change the wording on coins with the CAC sticker.