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Will CAC open their enrollment to collectors again?

Started by TSully-migration,

22 posts in this topic

coinman_23885

coinman_23885

Posted
Posted

I have no clue, but the original press release released a year or so ago didn't specify a specific date for reopening collector registration. My understanding is that there is a wait list. I'm glad that I saw the press release, and I was fortunate enough to submit a successful application on the last day of normal open collector registration.

 

With all of this said, I hope you do know that you can have your coins submitted through local dealers.

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Walkerfan

Walkerfan

Posted
Posted
I have no clue, but the original press release released a year or so ago didn't specify a specific date for reopening collector registration. My understanding is that there is a wait list. I'm glad that I saw the press release, and I was fortunate enough to submit a successful application on the last day of normal open collector registration.

 

With all of this said, I hope you do know that you can have your coins submitted through local dealers.

 

I think CAC is kinda irrelevent, as I don't need them to tell me OR others that I have a nice coin. I don't feel that a green bean has that much impact on an ALREADY good coin (the way that an UPGRADE by one of the TPGS would) and I find it kinda amusing. It seems to me that there are sooooo many green beans out there that they are now becoming very commonplace.

 

I DO, however, think that a GOLD bean would be nice, especially for a PQ coin that is in an older generation slab and one that I would NOT want to ruin by having it cracked out or messed around with or to disturb it. THAT would be a viable option and would be WELL worth it to me; assuming that I rec'd that GOLD bean, which doesn't seem very easy to get from CAC, though. I wonder what percentage of coins get the gold bean honor bestowed upon them. Does anyone have any idea??

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jom

jom

Posted
Posted

All the gold bean means is that CAC thinks the coin is 1 point higher.

 

So if the "population" or percentage of gold stickers is low that is just a way of saying CAC thinks that the vast majority of coins in holders are correctly graded (or less).

 

jom

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Mark T

Mark T

Posted
Posted
I have no clue, but the original press release released a year or so ago didn't specify a specific date for reopening collector registration. My understanding is that there is a wait list. I'm glad that I saw the press release, and I was fortunate enough to submit a successful application on the last day of normal open collector registration.

 

With all of this said, I hope you do know that you can have your coins submitted through local dealers.

 

I think CAC is kinda irrelevent, as I don't need them to tell me OR others that I have a nice coin. I don't feel that a green bean has that much impact on an ALREADY good coin (the way that an UPGRADE by one of the TPGS would) and I find it kinda amusing. It seems to me that there are sooooo many green beans out there that they are now becoming very commonplace.

 

I DO, however, think that a GOLD bean would be nice, especially for a PQ coin that is in an older generation slab and one that I would NOT want to ruin by having it cracked out or messed around with or to disturb it. THAT would be a viable option and would be WELL worth it to me; assuming that I rec'd that GOLD bean, which doesn't seem very easy to get from CAC, though. I wonder what percentage of coins get the gold bean honor bestowed upon them. Does anyone have any idea??

 

 

 

They are relevant when you are ready to sell your coin, considering most sales are sight unseen the Green CAC sticker adds value.

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MarkFeld

MarkFeld

Posted
Posted
All the gold bean means is that CAC thinks the coin is 1 point higher.

 

So if the "population" or percentage of gold stickers is low that is just a way of saying CAC thinks that the vast majority of coins in holders are correctly graded (or less).

 

jom

 

The gold sticker means CAC is of the opinion that the coin deserves at least a grade higher, not necessarily just 1 point higher.

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Walkerfan

Walkerfan

Posted
Posted
I have no clue, but the original press release released a year or so ago didn't specify a specific date for reopening collector registration. My understanding is that there is a wait list. I'm glad that I saw the press release, and I was fortunate enough to submit a successful application on the last day of normal open collector registration.

 

With all of this said, I hope you do know that you can have your coins submitted through local dealers.

 

I think CAC is kinda irrelevent, as I don't need them to tell me OR others that I have a nice coin. I don't feel that a green bean has that much impact on an ALREADY good coin (the way that an UPGRADE by one of the TPGS would) and I find it kinda amusing. It seems to me that there are sooooo many green beans out there that they are now becoming very commonplace.

 

I DO, however, think that a GOLD bean would be nice, especially for a PQ coin that is in an older generation slab and one that I would NOT want to ruin by having it cracked out or messed around with or to disturb it. THAT would be a viable option and would be WELL worth it to me; assuming that I rec'd that GOLD bean, which doesn't seem very easy to get from CAC, though. I wonder what percentage of coins get the gold bean honor bestowed upon them. Does anyone have any idea??

 

 

 

They are relevant when you are ready to sell your coin, considering most sales are sight unseen the Green CAC sticker adds value.

 

Fair enough. I sure wouldn't complain about having one on my slab.

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coinman_23885

coinman_23885

Posted
Posted
Hopefully this is not too "off-topic", but what is the difference regarding a collector and a dealer? Thank You.

 

 

I think it will ultimately come down to pricing when the new tiers go into effect. Also, there appears to be a little more leniency with collectors. If my memory serves me correctly, until a certain date (I forget when), collectors won't be charged for CAC coins that don't sticker.

 

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JIM F.

JIM F.

Posted
Posted

Let me re-phase. What distinguishes a collector from a dealer, meaning what is the definition of a collector vis-a-vis a dealer.

 

Thank You.

 

 

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Mozin

Mozin

Posted
Posted

I hope CAC does not re-open for new customers. I also question whether or not CAC should continue with dealers that fail to submit a minimum number of coins per year.

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jerseycat10

jerseycat10

Posted
Posted

So CAC constantly advertises that they are market-makers in CAC stickered coinage. They claim to have bought about $250 million in CAC coinage.

 

Question is... what are they doing with these coins? Hoarding them? Eventually for sale? Do they have a marketplace for these?

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Bugmann1974

Bugmann1974

Posted
Posted
My guess would be that coins bought through the buy backs have their stickers removed and either sold or, in the most extreme scenarios, sent back to PCGS and NGC under their guarantee.

 

It is my understanding that they will buy your CAC stickered coins sight unseen for what they feel is a fair price going by the grade listed on the slab. I assume they have some way of selling these off. Heritage or some other auction house perhaps?

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Chris1976

Chris1976

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Posted

I personally still feel that those who believe in and use the CAC services are being ripped off in a sense. the coin's owner pays to send the coins to CAC, they review it, if they feel its a better example of the grade or even a grade higher than that shown on the slab, CAC places a sticker on it for a fee.

 

My thoughts are that they are simply placing a "seal of approval" on the coins that they feel would be a worthwhile investment. That way they do not have to buy the coin at that point in time, and everyone is so proud of the little sticker. Then when the coin does go up for sale, either CAC is buying them or someone affiliated with them is buying them for a "fair" price. Then later either submit to PCGS or NGC for a regrade to be sold later for a profit ontop of what they have already made from those that feel they need the "safety net" or sticker to tell them the coin is correct for the grade or better. If this were not the case then modern coins would be allowed to be submited as well, but instead it follows along Johns personal collecting/investing habits as he refers to all modern coins as nothing more than junk. If the company were truly out there to verify that coins make their assigned grades and not just something that he feels he could invest in and make money off of later without having to hold each coin in hand, then he would open the company up to all forms of coins such as PCGS and NGC had done.

 

Again, these are my own thoughts and I know they are not shared by the masses.

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Keigwin

Keigwin

Posted
Posted

Many collector feel that CAC has helped "correct" loose grading by TPG's.

 

I figure that's a good thing, whether you care for green beans or not. PCGS and NGC seem a bit more careful nowadays. Maybe that's CAC. Maybe not.

Lance.

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jom

jom

Posted
Posted
Many collector feel that CAC has helped "correct" loose grading by TPG's.

 

I figure that's a good thing, whether you care for green beans or not. PCGS and NGC seem a bit more careful nowadays. Maybe that's CAC. Maybe not.

Lance.

 

I agree. I don't care whether a slab has a been or not but I think many do and it's helped clean up the TPGs. That's a good thing.....

 

jom

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Legend-migration

Legend-migration

Posted
Posted

CAC does not sell its coins through auctions. JA has built up a subtantial group of strong wholesale buyers for the CAC product. Typically, CAC sells 90% of what it buys within 24 hours. There is real demand for the beaned coins.

 

Legend is a big market maker in CAC coins-but we will not make prices for every widget. Why should we buy coins we do not need? Ditto for CAC-although JA does try to buy everything within reason.

 

To call CAC meaningless at this stage in the game is a joke. It is crystal clear that coins with the CAC sticker are the most liquid and bring the most when you sell. Want proof? Go look at the Heritage prices realized. Dreck is getting to where it should be, cents on the dollar. CAC definately has helped the market (and not just with prices).

 

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