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 Replies: 20 / Views: 3,434 |
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Bedrock of the Community
13014 Posts |
Quote:
Where did this come from? Lol from another thread I had opened at the same time. Put the wrong quote in  |
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Moderator
 United States
56855 Posts |
I consider CAC a grading company that grades the coins other TPG's have already graded. Quote:
They do not grade coins, they just confirm or elect not to confirm the grades that PCGS and NGC have given coins. How can they do that without grading the coins themselves? John1  |
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Pillar of the Community
United States
1663 Posts |
Isn't it just a gimmick?
They want collectors to think a slab without a sticker is worth less than one with,
when the reality is very few slabs are even submitted for stickers?
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Moderator
United States
16680 Posts |
It's an opinion like anything else. What I think is choice for the grade, another may not. I don't actively pursue purchasing CAC'd coins, but did just buy my first one but not for the sticker :-)
swcoin.ecrater.com
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Moderator
United States
23522 Posts |
It's not a gimmick. Albanese started CAC because he couldn't trust the grades on PCGS and NGC (which he helped found, by the way) slabs to trade with his fellow dealers sight-unseen.
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Bedrock of the Community
United States
17884 Posts |
Quote:
It is Certified Acceptance Corporation When they first started it stood for Collector Acceptance Corporation. It changed to Certified after just a few months. Edited by Conder101
03/03/2014 12:53 pm
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Valued Member
United States
456 Posts |
When I first started collecting TPG'd coins, I thought it meant can't afford coin. |
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Bedrock of the Community
13014 Posts |
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Albanese started CAC because he couldn't trust the grades on PCGS and NGC (which he helped found, by the way) slabs to trade with his fellow dealers sight-unseen. He did an interview a couple years ago about that which was pretty good read for his take on the market. Basically he was saying the market was being depressed because sight unseen bids had to basically assume it was going to be a low end coin which was dragging down the premium coin prices. I cant find it at the moment but Ill try and post it if I can track it down. |
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Moderator
United States
23522 Posts |
I've read that article, basebal21. Learned more about the business of coins in ten minutes than the rest of my life up to that point.
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Pillar of the Community
United States
7646 Posts |
It's just another way for somebody in the coin business to make money off of people already in the coin business that don't know what they are doing and need reassurance so they don't look completely stupid when they screw up and buy something that isn't as good as they thought it was in the first place.
Or something like that.
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Bedrock of the Community
13014 Posts |
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Learned more about the business of coins in ten minutes than the rest of my life up to that point. Well said. I was also SHOCKED by some of the prices he quoted back when he was still in the grading room. Something about common 65 Morgans being just under a grand? I remember reading that part a few times to see if I was misreading it. |
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Moderator
United States
23522 Posts |
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Bedrock of the Community
United States
17884 Posts |
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Something about common 65 Morgans being just under a grand? I remember reading that part a few times to see if I was misreading it. It was an interesting time to live through believe me. Coins which a couple years earlier had been $20 to $30 were now $800. And then a couple years later were $20 to $30 again. |
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Pillar of the Community
United States
9796 Posts |
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I've read that article, basebal21. Learned more about the business of coins in ten minutes than the rest of my life up to that point. Back in the mid 1990's John Albanese put out a coin newsletter, that was a long shot better than any other I ever read, he has insight to the rare coin market most of can't even imagine. I remember how he touted Proof Gold back then as an above average way to invest (for those investing) and probably get a larger return than on any other coins, seems he was right, as many were in the $8-30K range then. Today top end proof gold is rarely seen outside of major coin auctions, and when it does appear in them they often bring crazy stupid prices. Back in those days he was constantly pushing collectors to hold out for exceptional coins and not to settle for a high grade example just because it was certified as such, he was the first dealer (to my knowledge) that really pushed collectors to strive for the top quality coins for their collection be it really rare stuff or even common coins. Well put words back then as they are today. "Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013! ANA Life Member #3288 in good standing since 1981, ANS, Early American Coppers Member (EAC), Colonial Coin Collectors Club member (C4), Conder Token Collector Club member (CTCC), Civil War Token Society (CWTS) member, Liberty Seated Collectors Club (LSCC) & Numismatic Bibliomania Society member (NBS), USMex, Member in good standing, 2¢ variety collector. See my want page: http://goccf.com/t/140440 |
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Bedrock of the Community
13014 Posts |
Superdave thats it, thanks for finding it. It was further back than I thought.
Condor thats absolutely insane to have swings like that that quickly.
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Posted 03/02/2014 5:47 pm
