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I have a CAC question

Started by copper toning,

57 posts in this topic

copper toning

copper toning

Posted
Posted

Let's say you send a coin to CAC in X grade. In this grade the coin is valued at $1000

 

The said coin gets the coveted gold bean.

 

The next grade up is valued at $5000

 

What is CAC's buying price?

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copper toning

copper toning

Posted
  • Author
Posted
Somewhere north of $4k I would imagine. Gold bean means they like it at the next grade up at least. Could be higher even

 

In theory then I suppose a buyer could sell the coin to CAC rather than take a chance at a crackout to resubmit. Assumimg it did not get the upgrade while in the holder.

 

Looks like a low risk way of selling a nice coin you do not want to crackout.

 

While I am not for or against CAC I can see where this could be a nice option.

 

Of course you have to get the bean first

 

 

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MarkFeld

MarkFeld

Posted
Posted
Getting the "bean" is an adventure in itself. They are not taking any small time members.

It has nothing to do with "small time" (or "large time") members - CAC is not currently accepting new members. But that doesn't mean you can't have your coins submitted by someone who is a member. Or that you can't become a member in the future.

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oih82w8

oih82w8

Posted
Posted
Getting the "bean" is an adventure in itself. They are not taking any small time members.

It has nothing to do with "small time" (or "large time") members - CAC is not currently accepting new members. But that doesn't mean you can't have your coins submitted by someone who is a member. Or that you can't become a member in the future.

 

I may have to look into getting on their "waiting list".

 

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Kurtdog

Kurtdog

Posted
Posted
See what the gold bean 1829 half sold for in Heritage tonite?

I loved that coin!

She's a lovely coin. But I wouldn't buy her at that price with your money.

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oih82w8

oih82w8

Posted
Posted
Getting the "bean" is an adventure in itself. They are not taking any small time members.

what do you mean not taking small time members?

 

Collectors other than big name dealers.

 

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yonico

yonico

Posted
Posted

If you sell a coin back to CAC (green bean, gold, whatever) - what price guide do they use to determine what to pay you? Greysheet? Or some kind of percentage of a certain FMV guide?

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wdrob

wdrob

Posted
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I am not a big name collector and have been a member for several years

 

That's because you are from the great state of Georgia! ;)

 

 

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MarkFeld

MarkFeld

Posted
Posted
If you sell a coin back to CAC (green bean, gold, whatever) - what price guide do they use to determine what to pay you? Greysheet? Or some kind of percentage of a certain FMV guide?

 

You wouldn't be selling a coin back to CAC, since you didn't buy it from them in the first place. That aside, they set their own bid prices and make their own markets. It is more likely that a price guide will reflect CAC bids, than that CAC will bid, based on a guide.

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jom

jom

Posted
Posted
21/2 years

 

That doesn't sound right as I joined sometime in the spring of 2012 (even possibly early summer) so it seems to be less than 2 years.

 

Whatever the case, you don't have to be a "big time" anything as I'm a member and I'm about as small-time as it gets...

 

jom

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Coinbuf

Coinbuf

Posted
Posted
They just had a deal that if you joined the seated coin collectors you were admitted to cac don't know if that is still going on

 

Yep thats how I was able to obtain my submisson abilites, a very nice perk that I think may have ended in Dec, and I am even more small time than Jom. :)

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Raisethis2

Raisethis2

Posted
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I've been on the CAC waiting list for a few months. I don't have any idea when/if I'll get in the group.

 

It would be nice if they made some sort of statement so if it's hopeless folks would know.

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wheat'swheats

wheat'swheats

Posted
Posted
21/2 years

 

That doesn't sound right as I joined sometime in the spring of 2012 (even possibly early summer) so it seems to be less than 2 years.

 

Whatever the case, you don't have to be a "big time" anything as I'm a member and I'm about as small-time as it gets...

 

jom

are you talking about the unofficial forum or CAC itself? I joined CAC it self I think NOV. of 2011, what does that have to do when you joined? You lost me on that one

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$ilverHawk

$ilverHawk

Posted
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See what the gold bean 1829 half sold for in Heritage tonite?

 

Was the Gold Bean the market maker or the fact that this coin was R8 as proof? This coin sold for $102,812.50. PCGS price guide says $110,000 as PR65 R value not stated. Auction records show 9/29/2013 1829 NGC PF65 $55,812 R8 and 1/14/13 1829 NGC PF66 $58,750 R4.

 

I have no idea of what the buyer is thinking. I compared the Heritage images of the coin in question and find the 1829 NGC PF65 R8 more appealing. Just my opinion.

 

Blessings on the buyer. But paying almost double based on a Gold Bean--I don't think so.

 

Carl

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Tradedollarnut

Tradedollarnut

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I have no idea of what the buyer is thinking. I compared the Heritage images of the coin in question and find the 1829 NGC PF65 R8 more appealing. Just my opinion.

 

Seriously? No way. That coin is the Norweb specimen and the NGC66 was a piece of in comparison.

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$ilverHawk

$ilverHawk

Posted
Posted
I have no idea of what the buyer is thinking. I compared the Heritage images of the coin in question and find the 1829 NGC PF65 R8 more appealing. Just my opinion.

 

Seriously? No way. That coin is the Norweb specimen and the NGC66 was a piece of in comparison.

 

Seriously? Didn't see the Norweb pedigree in the Heritage description. Heritage usually takes great care in presenting high value coins to include any pedigrees that may influence biding. Don't care about pedigrees just care about the quality of the coin. We will have to disagree regarding the quality of the NGC66 vs the coin in question.

 

I note that you only quoted part of my post. BTW, I would love to own "the piece of ".

 

Carl

 

 

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