CAC to launch Sep.1

[123cents]

As reported ATS, the CAC is to launch Sep.1 and will initially deal with only PCGS and NGC graded coins as reported by Coin World. Mark Feld is to take part in the CAC. Go get em Mark!!

[ziggy29]

(Originally posted ATS)

 

From the article, a few highlights (claiming fair use):

 

* Albanese is quoted as saying they are limiting this to PCGS and NGC because only they have published pop reports.

 

* Coins submitted to CAC that fail to make the cut will be rebated half their submission fees -- but no reason will be given for rejection.

 

* The CAC web site (under construction) would allow owners of CAC-stickered coins to register them at the site and to know how many coins within a particular grade have been both certified and CAC-approved.

 

* Albanese said CAC is not another grading service.

 

-- BUT --

 

* Albanese said he will be a full-time employee and the majority stockholder in the privately held company, and will also serve as the grading finalizer. (My note: How can he be a "grading finalizer" if this isn't a grading company?)

 

* The bottom half of the article is devoted to "(online) forum buzz."

[carson city]

This to shall Pass !

[Tradedollarnut]

This to shall Pass !

 

Constipated again?

[stinkycheese1]

Jeez, this is a big thing. So basically you send your coins to them for a fee and they decide whether or not that coin is WORTHY of it's grade?

 

[carson city]

It was reported in CoinWorld, Aug, 6th issue that one of the CAC founders John Albanese knows that two coins in the same holder with the same mintmark and date can have two significantly different values ! WOW, who would have thunk that ?

[WinstonWare]

Among other things yes, as I understand it. I think they also try to weed out doctored or messed with coins as well but I’m not sure what they are including in that e.g. dipped coins – not sure?

[bsshog40]

I can see how this would effect the big time dollar spenders of coins but I will guess it will have very little influence on your budgeted collector. Those who know nothing of CAC will just be pondering over what the sticker even means. It's more of a big fuss I feel for the wealthy collectors.

[Stanley]

It was reported in CoinWorld, Aug, 6th issue that one of the CAC founders John Albanese knows that two coins in the same holder with the same mintmark and date can have two significantly different values ! WOW, who would have thunk that ?

 

Edit added:

WOW, who would have thunk that

Its thunked

[carson city]

And it was also reported, in CoinWorld Aug 6th, that Mark Feld said this project is "Not about the money". Surprise---it's all about the $$$$ . Fees to be decided at a later date !

[Stanley]

And it was also reported, in CoinWorld Aug 6th, that Mark Feld said this project is "Not about the money". Surprise---it's all about the $$$$ . Fees to be decided at a later date !

[DC Dawg]

* Albanese is quoted as saying they are limiting this to PCGS and NGC because only they have published pop reports.

Oh? Then the ANACS pop report that I can access when I login to their website is what... chopped liver?

 

One of the thing that bothers me about this venture is that it makes the CAC look like it is an attack on PCGS and NGC. By Albanese not doing his homework and noting that ANACS publishes its pop reports suggests that he does not care about the rest of the industry, just going against the big two. With Albanese involved with the founding of the two companies, it also looks like he has an axe to grind. He does not like the way his "babies" are doing business so he's going to do what he can to "fix" them. This is not for the alleged good of the hobby. This is for Albanese ego.

 

No, I don't know Albanese and I some may think I am wrong, but that is what it looks like from this corner of the numismatic world. And considering my work involves the federal government, I am good at conspiracy theories--and this is a doozy!!

 

Scott

[gmarguli]

* Albanese is quoted as saying they are limiting this to PCGS and NGC because only they have published pop reports.

 

So does ANACS. Since I guess the deciding factor in allowing a certain grading service's slabbed coins to be submitted is if they have a pop report, I'm now happy to announce that CAC will also accept ANACS graded coins.

 

 

I really think this is a stupid idea and will be a failure.

[Stanley]

* Albanese is quoted as saying they are limiting this to PCGS and NGC because only they have published pop reports.

 

So does ANACS. Since I guess the deciding factor in allowing a certain grading service's slabbed coins to be submitted is if they have a pop report, I'm now happy to announce that CAC will also accept ANACS graded coins.

 

 

I really think this is a stupid idea and will be a failure.

They are accepting Anacs or not

[Houston Investor]

I think CAC will be mainly for the collectors of big ticket coins over $1000. A lot of these people have single coins worth more than the capitalization of the majority of small dealers.

 

Since the most I pay for certified coins brought to my table at shows is 95% of CDN Bid, a CAC collector expecting more will have to sell his somewhere else.

 

I can't see CAC having much impact on moderns, bullion, widgets, or US Mint products. One guy who deals in junk box stuff says he is going to have some stickers printed up that say CAC (imprinted in an Eagle) and stick them on his raw and junk box material.

[BankNote1]

Many dealers think this consortium is a great thing. I also found out the consortium isn't a new idea. It has been talked about for years in dealer circles. I guess it doesn't matter to me one way or the other. Most of the stuff I collect, buy, and sell, isn't of much value anyway.

 

I do wonder if the CAC coin dealers that are checking the coins will be as fair with their coins as they would with an unknown collector??

[carson city]

Cac is obviously a selected attack and inteference with the business relationships NGC & PCGS have developed. Since when did ANACS drop their population publication ?

[Tradedollarnut]

Cac is obviously a selected attack and inteference with the business relationships NGC & PCGS have developed.

 

With whom - the crackout artists? Hmmmm.

[carson city]

If CAC truly wanted to help the coin collecting hobby it would also disclose those coins that are submitted and have problems. Apparently, CAC is not interested in helping the hobby only the dealers.

[gmarguli]

Cac is obviously a selected attack and inteference with the business relationships NGC & PCGS have developed.

 

With whom - the crackout artists? Hmmmm.

 

And exactly what is wrong with "crackout artists"? Some people like to use that term in a negative manner. Perhaps the same person who boasted of cracking out a PCGS graded Lincoln and getting it upgraded a few years back. Hmmmm.

 

Crackout Artists = People who have the balls to risk their own money to try and upgrade a coin. (See: Capitalism; Risk Taker; Reward).

 

[Revenant]

Considering I don't really collect coins that are valued over $100 dollars at the moment (for more than 1 reason) CAC means precisely jack mess to me.

[rbrown4]

I may be totally off track here but how long has ANACS had their pop. report available to the public and more importantly, how comprehensive is it, how far back does it go. It is my understanding that it has only been available online for a short time now, and having been one that has submitted coins to ANACS, I have never been successful in being able to properly access the data. I am not saying that their data and consideration should not be included but could it be a matter of the data not being complete, comprehensive and/or accurate?

 

Rey

[MikeInFL]

* Albanese is quoted as saying they are limiting this to PCGS and NGC because only they have published pop reports.

Oh? Then the ANACS pop report that I can access when I login to their website is what... chopped liver?

 

One of the thing that bothers me about this venture is that it makes the CAC look like it is an attack on PCGS and NGC. By Albanese not doing his homework and noting that ANACS publishes its pop reports suggests that he does not care about the rest of the industry, just going against the big two. With Albanese involved with the founding of the two companies, it also looks like he has an axe to grind. He does not like the way his "babies" are doing business so he's going to do what he can to "fix" them. This is not for the alleged good of the hobby. This is for Albanese ego.

 

No, I don't know Albanese and I some may think I am wrong, but that is what it looks like from this corner of the numismatic world. And considering my work involves the federal government, I am good at conspiracy theories--and this is a doozy!!

 

Scott

 

Scott,

 

I don't think it is fair for someone who doesn't "know Albanese" and is relying on the spotty information provided through a few internet posts and one article (have you even read it in its entirety?) to make judgements and false accusations. At least one of the people I know personally, trust implicitly, and I take offense to you calling them liars and questioning their integrity with nothing more than a self-described consipracy theory.

 

Shame on you...Mike

[MAULEMALL]

* Albanese is quoted as saying they are limiting this to PCGS and NGC because only they have published pop reports.

Oh? Then the ANACS pop report that I can access when I login to their website is what... chopped liver?

 

One of the thing that bothers me about this venture is that it makes the CAC look like it is an attack on PCGS and NGC. By Albanese not doing his homework and noting that ANACS publishes its pop reports suggests that he does not care about the rest of the industry, just going against the big two. With Albanese involved with the founding of the two companies, it also looks like he has an axe to grind. He does not like the way his "babies" are doing business so he's going to do what he can to "fix" them. This is not for the alleged good of the hobby. This is for Albanese ego.

 

No, I don't know Albanese and I some may think I am wrong, but that is what it looks like from this corner of the numismatic world. And considering my work involves the federal government, I am good at conspiracy theories--and this is a doozy!!

 

Scott

 

Scott,

 

I don't think it is fair for someone who doesn't "know Albanese" and is relying on the spotty information provided through a few internet posts and one article (have you even read it in its entirety?) to make judgements and false accusations. At least one of the people I know personally, trust implicitly, and I take offense to you calling them liars and questioning their integrity with nothing more than a self-described consipracy theory.

 

Shame on you...Mike

[jesbroken]

* Coins submitted to CAC that fail to make the cut will be rebated half their submission fees -- but no reason will be given for rejection.

 

This is something that perturbs me to no end. Send us your most valuable coin and we will charge you a fee(only half if rejected), but if we reject your coin for the grade/cleaning/AT/etc. we will not tell you why so that you could have reasonable means to go back to your seller/TPG. This seems that CAC wants not to trouble PCGS nor NGC. Bad sticking point to me.This is not a jab at CAC only, all who have read my posts know that I have complained about this same thing done by NGC and PCGS.

I have asked NGC on their forum 3 weeks or so ago and have gotten no answer as to why. It is why I am currently only using ANACS even when I know that I am losing value in resale.

[bsshog40]

* Coins submitted to CAC that fail to make the cut will be rebated half their submission fees -- but no reason will be given for rejection.

 

This is something that perturbs me to no end. Send us your most valuable coin and we will charge you a fee(only half if rejected), but if we reject your coin for the grade/cleaning/AT/etc. we will not tell you why so that you could have reasonable means to go back to your seller/TPG. This seems that CAC wants not to trouble PCGS nor NGC. Bad sticking point to me.This is not a jab at CAC only, all who have read my posts know that I have complained about this same thing done by NGC and PCGS.

I have asked NGC on their forum 3 weeks or so ago and have gotten no answer as to why. It is why I am currently only using ANACS even when I know that I am losing value in resale.

 

I kind of agree with Jim here. CAC, from what I'm gathering, is a service to verify grades, genuine issues, etc... of already slabbed coins that fees have been paid to do this in the first place. Now we have this company saying we will double check your coin to make sure you got the right grades, etc... but if you didn't, we're gonna take at least half your money and not tell you why your coin is not up to the original TPG's grade. Sounds like alot of to me.

[James_OldeTowne]

As reported ATS, the CAC is to launch Sep.1 and will initially deal with only PCGS and NGC graded coins as reported by Coin World. Mark Feld is to take part in the CAC. Go get em Mark!!

Is there a link-y, please?

[ziggy29]

As reported ATS, the CAC is to launch Sep.1 and will initially deal with only PCGS and NGC graded coins as reported by Coin World. Mark Feld is to take part in the CAC. Go get em Mark!!

Is there a link-y, please?

James, this comes from the Online edition of Coin World dated August 6. You need a subscription to the online version of Coin World to see the article in its entirety.

 

I tried to summarize what I thought were the key points of the article above.

 

[James_OldeTowne]

James, this comes from the Online edition of Coin World dated August 6. You need a subscription to the online version of Coin World to see the article in its entirety.

PM sent.

[carson city]

James, CoinWorld like CAC requires a FEE !