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CAC

Started by xtera-migration,

70 posts in this topic

okbustchaser

okbustchaser

Posted
Posted

The CAC service--contrary to what you may have read here and elsewhere--doesn't "confirm" grades. They merely guarantee that they will buy any coin wearing their sticker at their published price which may or may not be more than you might receive from someone else.

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BillJones

BillJones

Posted
Posted
Maybe I should just send

them back to PCGS and NGC.

 

Why would you send them back to PCGS and NGC? It all depends upon the coins and the grades which have been assigned to them. If the grading is accurate and most especially if the coins have good eye appeal, you don't need to go any further.

 

It takes an expert grader to come with an educated guess as to which coins might get an upgrade if they were re-submitted. I believe that you have to crack them out of their holders to have any success with the crack-out game. Others will disagree.

 

If the coins are grossly over graded in the holder, which is rare, you are best to leave them alone. There is nothing to be gained from getting a down grade IMO, unless you get compensation from the grading company for that.

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physics-fan3.14

physics-fan3.14

Posted
Posted

Some people love CAC. Some people hate CAC. You'll see opinions both ways.

 

There is absolutely no reason to send your coins to CAC unless they are relatively high value and you have plans to sell them in the near term. Same with sending them back to NGC - grading hasn't changed much, and slabs from 20 years ago are still perfectly valid and accurate.

 

Save yourself the money, unless you think your coins are misgraded for some reason.

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xtera-migration

xtera-migration

Posted
  • Author
Posted

I can't judge but since the grading was done so long ago I've read that some could feel less confident with old grades. I have a coin with a low pop and I thought having those numbers supported by a recent grading would help any potential buyers feel more comfortable.

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Mark T

Mark T

Posted
Posted

I believe CAC is no longer taking on new collector memberships , contact them to find out. If so find a dealer who can submit them for you. Sending the coins back to PCGS or NGC would be a waste of time and money. My experience with CAC has always been excellent. There is a very strong market for CAC certified coins. If you decided to sell a CAC certified coin , CAC offers excellent prices and will purchase your coins.

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leeg

leeg

Posted
Posted

Another consideration is if they are in old holders they are worth a premium. Depending on the coin of course.

 

If you send in for regrade you'll lose the old holder.

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MarkFeld

MarkFeld

Posted
Posted
It is good but not perfect. However there will be many who will tell you that it is perfect.

 

There you go with your hyperbole again, Bill - who are the "many" who will tell you CAC is "perfect"? I haven't heard that from a single supporter of theirs.

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MarkFeld

MarkFeld

Posted
Posted
I reached out to a dealer this morn because I am interested in selling. Thanks everybody for your input!

 

Welcome to the forum. The best first step you could take would be to find an expert dealer or collector who could review your coins with you for potential re-grade, crossover and/or CAC submission. I would definitely do that before selling them.

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MarkFeld

MarkFeld

Posted
Posted
Thanks Mark. The nearest name I have is Robert S. Riemer Coins in Stamford. Anyone familiar with this gentleman?

 

Do you have a list of the coins which you would feel comfortable posting or sending via private message?

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MarkFeld

MarkFeld

Posted
Posted
I do. Let me gather all my stuff and get pics to you...might take a week.

 

Please take your time. That would be better than selling in a hurry. ;)

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Matt_dac

Matt_dac

Posted
Posted
The CAC service--contrary to what you may have read here and elsewhere--doesn't "confirm" grades. They merely guarantee that they will buy any coin wearing their sticker at their published price which may or may not be more than you might receive from someone else.

 

For the purposes of this discussion I think they do....that is....to verify in their opinion if the coin is an "A" or "B" coin for the grade.

 

>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<

 

I personally do not prioritize the increased premium associated with CAC stickered coins. As a seller I understand why you would (and should) do what you can to get as much money for your coins as possible. You will of course have to pay for the CAC grading.

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Mark T

Mark T

Posted
Posted
Thanks Mark. The nearest name I have is Robert S. Riemer Coins in Stamford. Anyone familiar with this gentleman?

 

Looks like you live in Connecticut . Ole Town Coin on The Berlin Turnpike :

 

http://www.oldetownecoin.com/

 

Harold is very conservative and old school , sometimes overly picky with his grading. But he is honest and knows his stuff. I do not think he is set up to submit to CAC.

 

Send pictures and a list of what you have to Mark Feld , he will be very helpful with how you should proceed.

If you are near Hartford , I would be willing to take a look at your coins , not to buy them just to

give you my opinion.

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johnny9434

johnny9434

Posted
Posted
Thanks Mark. The nearest name I have is Robert S. Riemer Coins in Stamford. Anyone familiar with this gentleman?

 

Looks like you live in Connecticut . Ole Town Coin on The Berlin Turnpike :

 

http://www.oldetownecoin.com/

 

Harold is very conservative and old school , sometimes overly picky with his grading. But he is honest and knows his stuff. I do not think he is set up to submit to CAC.

 

Send pictures and a list of what you have to Mark Feld , he will be very helpful with how you should proceed.

If you are near Hartford , I would be willing to take a look at your coins , not to buy them just to

give you my opinion.

Harold is good with his coin. Been there several times
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Nutmeg Coin

Nutmeg Coin

Posted
Posted

I'm nearby in New Canaan and an authorized CAC dealer, if you need to submit I can give you the form plus CAC will make strong offers once they get approved. I don't know any dealer around here that I would sell certified coins to without losing at least 20% of market value.

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coinman_23885

coinman_23885

Posted
Posted
There is absolutely no reason to send your coins to CAC unless they are relatively high value and you have plans to sell them in the near term. Same with sending them back to NGC - grading hasn't changed much, and slabs from 20 years ago are still perfectly valid and accurate.

 

I agree with this. Unless you are planning to sell the pieces or potentially sell them in the near future, why not save the fees for more coins or other expenses?

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Nutmeg Coin

Nutmeg Coin

Posted
Posted

If the coins are old holder and probably "B" or "A" coins and worth over $500, the CAC option should definitely be considered. After they CAC most of the member dealers want the coins to come back to them before they go to the customer so they can make profitable offers. For example a 1907 $20 MS64 CAC'd and they paid me $3300 or so. No dealer is going to stretch on a coin like that over low $2000s. The $12.50 fee plus shipping is often well worth it.

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AnkurJ

AnkurJ

Posted
Posted

CAC confirms a coin is strong for the grade and is problem free. The added value for the cost of $12.50 and postage can be significant. Look at auction records and you will see for yourself.

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BillJones

BillJones

Posted
Posted
I'm a collector 1 town over from Stamford and can submit to CAC. Why o why Bill Jones?

 

Why o why? Because my experience and observations with the service have not been as perfect as others have appearantly have been. Yet whenever I say something that does not reflect a glowing review, some of you jump on me like a ton of bricks. :tonofbricks:

 

Is my opinion that important, or do you need to silence any and all points of view that do not agree with your opinion? What if a newbie with two or three posts did not give CAC a glowing review, Would you jump on him or her? CAC seems to be doing just fine without me giving it a four star review. I would give it a three and half star review, but that's probably not good enough. Why can't you leave it at that?

 

And by the way I am not alone. There are a number of veteran dealers who have expressed the same opinions to me. And no I am going to name them so that you can attack them too.

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Hard Times

Hard Times

Posted
Posted
If the coins are old holder and probably "B" or "A" coins and worth over $500, the CAC option should definitely be considered. After they CAC most of the member dealers want the coins to come back to them before they go to the customer so they can make profitable offers. For example a 1907 $20 MS64 CAC'd and they paid me $3300 or so. No dealer is going to stretch on a coin like that over low $2000s. The $12.50 fee plus shipping is often well worth it.

 

Are you talking Liberty or Saint Gaudens Double Eagle 1907 MS64? $3300 for the later is way over MV, how could CAC resell for profit - won't happen. If you mean Liberty 1907 MS64, then $3300 is well under wholesale, so either way the $3300 price does not make sense. (shrug)

 

Best, HT

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