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Moderator
  United States
16679 Posts |
And from what I read from the article, one of them said the sticker just peels off! So what good is it if there is no permanent fixture or inscribing on the holder itself  ? swcoin.ecrater.com
Edited by vermontensium
09/05/2008 11:35 pm
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New Member
United States
44 Posts |
I have negative feelings regarding this whole service since it came on the scene. It is undeniably effecting the marketplace and prices for all of us, but in my mind it isn't really aimed at the collector. It is tailored for the investor with little or no experience with coins. They are reassured by the green football when they are plopping down "x" number of dollars on something they have no experience in evaluating. The sight unseen market is growing I believe and this is another slick way to extract a larger premium from the unwitting.
As for the average collector, it really isn't user friendly yet. Their website has yet to list a fee schedule for the service. An odd business practice if you ask me. Finding someone to submit is also not easy. I have been told by a local shop that is listed on CAC's website as a submission center that they will no longer provide the service to the public due to "issues" that have recently come up. They stated they will submit only their coins but not the public's?
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Moderator
United States
16679 Posts |
From what I read, they have "stickered" 25,000 coins to date with an average coin value of $6000!
swcoin.ecrater.com
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Pillar of the Community
United States
5318 Posts |
Quote:
Coins should be certified as genuine, period.  Grading is ultimately an opinion, not a science. Quote:
25,000 coins to date with an average coin value of $6000! Quote:
Their website has yet to list a fee schedule for the service. It sounds almost like they want strictly upper-tier coins, where incremental grading upgrades can possibly mean a lot more $$$ changing hands. Not to sound cynical or anything, but what kind of business do you suppose that directly benefits? Any guesses?  Edited by KurtS
09/06/2008 5:28 pm
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Moderator
United States
16679 Posts |
Exactly my point!
swcoin.ecrater.com
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Pillar of the Community
United States
1267 Posts |
BiggFFred Said, Quote:
Coins should be certified as genuine, period. My sentiments exactly, and your comments ring true and are SPOT-ON. All the rest is just FLUFF and Fancy Opinion... Take Care Ben |
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New Member
United States
44 Posts |
I don't know as though you are being cynical KurtS. How else are you supposed to feel when you see what is going on with this process?
Only certain dealers are allowed to submit. The process is not clearly defined. The price structures aren't enumerated. The very exclusivity of the process allows for a collusive environment. And finally, I would be very interested in finding out how many pieces are submitted on behalf of individuals and then returned to be kept by that individual party. I sense that most of the coins are being sent in by these selected dealers after they search their inventory or make a regular purchase. They pay a small fee but then turn this coin around with this gimmicky sticker and jack up the price. At this stage it is an easy way to increase premiums. In a few years time when there are more of these coins being sold back to dealers it will be interesting to see how they feel about the "PQ" appeal of these coins. I suspect at that time another gimmick will arrive on the scene to enumerate "special" coins and separate folks from their money.
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Rest in Peace
United States
9104 Posts |
We've got NGC certifying privately minted "Unions" that don't even go thru the motions of being made legal tender by some banana republic. They contain an ounce and a half of silver for $100. Either NGC or PCGS certified silver eagles as having been found in the vaults of the demolished WTC.
How dare you call anything else a gimmick to separate folks from their money.
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Rest in Peace
United States
9104 Posts |
BTW, who do you think pays more in advertising. NGC, ANACS, PCGS or CAC?
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Bedrock of the Community
United States
14454 Posts |
I just wonder if I get my MS-64 1895-S Morgan cac stickered will PCGS upgrade the coin to 65 if I resubmit it with the sticker on the slab
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Moderator
United States
16679 Posts |
. They should right? swcoin.ecrater.com
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New Member
United States
44 Posts |
My question to you biggfredd is why do you feel advertising expenditures mean anything regarding CAC. Look at an edition of CoinWorld. CAC doesn't have to advertise....a few high profile dealers are doing it for them. Regarding gimmicks, I think there are plenty of them out there separating folks from their money. In the end, Caveat Emptor and all that good stuff. And lastly, I think your use of the phrase "how dare you" is odd. Is it because you are incredulous I could suggest further shenanigans down the road, or was it because you feel using a tragedy like 9/11 as a marketing tool trumps all other gimmicks? I am in agreement about the WTC marketing angle. It is reprehensible. |
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Rest in Peace
United States
9104 Posts |
CW is going to think long and hard before coming down on advertisers with long-term play like PCGS and NGC. Even if these people graded coins correctly, which would make CAC unnecessary.
I'm saying considering the crap like WTC coins and slobbed non-coins like "unions", the majors have no place to talk. I can't see putting down someone trying to correct their errors.
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New Member
United States
44 Posts |
Fair enough regarding your feelings on the TPGs and slobbed coins. I just foresee a time in the not so distant future when the CAC sticker has become devalued enough that yet another firm must place its mark on the slab to make the coin top-tier. In the end you are right on with saying a coin is what it is to the person holding it. The owner may value it for innumerable reasons beyond what a TPG would see in it. |
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Moderator
United States
16679 Posts |
Like I have said, the average value of a coin with a CAC sticker is $6000. I can see who this is taylored to. Anyone else . swcoin.ecrater.com
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Posted 09/06/2008 4:35 pm
