CAC submissions 0

[dollarfan]

hello again,  i believe i am finally getting close to being approved for non-dealer CAC submissions.  I have a bunch of coins that i am wondering about submitting but am totally new to the process.  could members please share their CAC experiences and give me advice on what i should be considering for morgans and peace dollars.  none of my coins have toning and all are mostly "blast white" and PL and DMPL on the morgans.  thanks in advance

[Coinbuf]

 A couple of thoughts; first if you have applied as a collector my early congrats on being accepted and enjoy the ability to submit direct to CAC it is a very nice benefit.   Second do yourself and others a favor by carefully screening your coins and only sending coins that you think really merit a bean, clogging up the submission cycle with tons of subpar coins will only slow everything down for you and others.   Third weigh the costs against the benefit, you may have a ton of MS63 or 64 Morgans that deserve a bean but will having a bean really enhance the value enough to cover the shipping and review costs.  My second and third thoughts are closely tied together.   Lastly its not all about color for JA, he is looking for premium coins be they blast white or easter eggs, clean, original, eye appealing, unaltered coins that are at the top of the grade get the beans.   Most of my early submissions were all coins that I felt had a very high chance at passing so my pass rate was very high, just over 90%.   When I got to the coins that I was less certain of that rate fell to closer to 70%.

My process is to put a group together that I want to send, set the group aside for a day or so and then reevaluate each coin to weed out any that my emotional attachment might be clouding my objectivity on. pack them up and ship them off.

One last thought you might want to check into a third party insurance company, the company I use is Ship and Insure.  They offer insurance rates that are much less than through the post office, and an added benefit is they have discounted rates with FedEx.

[dollarfan]

4 minutes ago, Coinbuf said:

 A couple of thoughts; first if you have applied as a collector my early congrats on being accepted and enjoy the ability to submit direct to CAC it is a very nice benefit.   Second do yourself and others a favor by carefully screening your coins and only sending coins that you think really merit a bean, clogging up the submission cycle with tons of subpar coins will only slow everything down for you and others.   Third weigh the costs against the benefit, you may have a ton of MS63 or 64 Morgans that deserve a bean but will having a bean really enhance the value enough to cover the shipping and review costs.  My second and third thoughts are closely tied together.   Lastly its not all about color for JA, he is looking for premium coins be they blast white or easter eggs, clean, original, eye appealing, unaltered coins that are at the top of the grade get the beans.   Most of my early submissions were all coins that I felt had a very high chance at passing so my pass rate was very high, just over 90%.   When I got to the coins that I was less certain of that rate fell to closer to 70%.

My process is to put a group together that I want to send, set the group aside for a day or so and then reevaluate each coin to weed out any that my emotional attachment might be clouding my objectivity on. pack them up and ship them off.

One last thought you might want to check into a third party insurance company, the company I use is Ship and Insure.  They offer insurance rates that are much less than through the post office, and an added benefit is they have discounted rates with FedEx.

those are excellent points coinbuf.  when you submit do you have a number of coins per submission or just dollar amount {not to exceed} of value.  i couldnt imagine losing a package of key date coins regardless of how much insurance.  The additional insurance is something i will definately do.  

[Coinbuf]

My goal is to have a full page to submit, that way I spread the cost of shipping/review over the max amount of coins and thus add the least overhead cost to each coin.   Losing a submission is indeed a concern and not one to take lightly, but its a risk you have to accept if you want to submit.   So far I've been very lucky that I've never had a submission to CAC or one of the TPG's be lost, but I will admit that the submission where I had my 09-SVDB and 14-D Lincolns on did worry me.   So far I think the greatest value on a single submission for me was just over 10K that is a lot for me to lose but I have seen dealers send submissions worth many multiples of that with no issues.

[Alex in PA.]

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