Coin Community Family of Web Sites
YourCoinBox is offering a stress free way to appraise and sell your coins from the comfort of your home. Our goal is to create an ultra transparent and no pressure experience for finding out what your coins are worth and what to do with them.
Like us on Facebook! Subscribe to our Youtube Channel! Check out our Twitter! Check out our Pinterest!
Username:
Password:
Save Password
Forgot your Password?


Welcome Guest! Need help? Got a question? Inherit some coins?
Our coin forum is completely free! Register Now!

Paying For CAC Approval Fees

 
To participate in the forum you must log in or register.
Author Previous TopicReplies: 9 / Views: 512Next Topic  
New Member

United States
2 Posts
 Posted 06/11/2021  2:17 pm Show Profile   Bookmark this topic Add geminiguy90028 to your friends list Get a Link to this Message
I am new to the coin collecting stuff and am considering sending some of my graded coins to CAC but I was wondering if I have to pay the fee regardless of CAC approving my coins or not. I'm sorry if this sounds like a foolish question, but I looked for the answer on the internet with no luck.
Pillar of the Community
Learn More...
United States
8739 Posts
 Posted 06/11/2021  2:59 pm  Show Profile   Check GrapeCollects's eBay Listings Bookmark this reply Add GrapeCollects to your friends list Get a Link to this Reply
Are you a CAC approved submitter in the first place? Assuming you are, the answer is no. If a coin does not pass, you don't pay.
My best finds: 1999-WAM:http://goccf.com/t/332161 1988-RDV-6:http://goccf.com/t/335954#2873459 1986-Off-center: http://goccf.com/t/335952
1999 WAM #2:http://goccf.com/t/338710&whichpage=1
1981 Double Struck In Collar: http://goccf.com/t/350199&whichpage=1
ANA id: 3194067
My Type Set: https://www.NGCcoin.com/registry/co...sets/236574/
If you want to buy something or sell something or just talk, shoot me a PM!
Bedrock of the Community
Learn More...
United States
59280 Posts
 Posted 06/11/2021  3:20 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
That sums it up.



to the CCF!
Pillar of the Community
United States
4748 Posts
 Posted 06/11/2021  3:36 pm  Show Profile   Bookmark this reply Add ijn1944 to your friends list Get a Link to this Reply
Perhaps there's a market niche for a 'Coin Community Forum' validation service--where five random members are asked to review a submitted coin. The selected members have 5 minutes to reach a decision (majority rules). At that point, a cool sicker is issued.
Pillar of the Community
United States
4049 Posts
 Posted 06/11/2021  4:05 pm  Show Profile   Bookmark this reply Add jimbucks to your friends list Get a Link to this Reply

Quote:
Perhaps there's a market niche for a 'Coin Community Forum' validation service--where five random members are asked to review a submitted coin. The selected members have 5 minutes to reach a decision (majority rules). At that point, a cool sicker is issued.


No. The OP can just put some gold stars on his TPG holder, like a second grader (pun intended).
Pillar of the Community
United States
9812 Posts
 Posted 06/11/2021  4:08 pm  Show Profile   Bookmark this reply Add dave700x to your friends list Get a Link to this Reply
What type of coins are you considering? Some are worth the effort, others may not be.

And yes, aboard.
1883-O Nut
Pillar of the Community
United States
3070 Posts
 Posted 06/11/2021  4:14 pm  Show Profile   Bookmark this reply Add Slider23 to your friends list Get a Link to this Reply
Coin dealers pay CAC for the submission pass or fail. Collectors with CAC membership do not pay for coins that fail. If you are submitting to CAC through a dealer, then, you will most likely be paying pass or fail.
Edited by Slider23
06/11/2021 4:15 pm
Valued Member
Learn More...
United States
244 Posts
 Posted 06/11/2021  8:47 pm  Show Profile   Bookmark this reply Add Winesteven to your friends list Get a Link to this Reply
1. If you're not a dealer, but just a collector that's not yet "approved" to submit coins to CAC, all you need to do is apply to CAC. It just takes roughly two months to get approved.


Quote:
What type of coins are you considering? Some are worth the effort, others may not be.


2. For the most part, I disagree. As noted, coins that fail end up costing nothing. Those that pass cost $16 each (that reflects their new pricing), plus $6 per submission form (up to 20 coins), plus round trip shipping. In my opinion, most importantly even "very low value" coins that succeed in getting a CAC sticker will be easier to sell (by you or your heirs) at fair value. My sense is even $50 - $250 coins with CAC's will easily cover the costs incurred, and quite likely provide a few extra dollars as well. GC seems to be a good place to sell low priced coins with CAC's (along with coins at every point of the price scale).

3. Keep in mind CAC has a strict list of the coins they accept. As a generalization, NO "modern" coins are accepted.

Steve


A day without fine wine and working on your coin collection is like a day without sunshine!

My collecting "Pride & Joy" is my PCGS Registry Dansco 7070 Set:
https://www.PCGS.com/setregistry/ty...edset/213996
Edited by Winesteven
06/11/2021 8:53 pm
Pillar of the Community
United States
9812 Posts
 Posted 06/11/2021  9:10 pm  Show Profile   Bookmark this reply Add dave700x to your friends list Get a Link to this Reply

Quote:
For the most part, I disagree. As noted, coins that fail end up costing nothing.


There are mint issues that do not increase in value the cost of a green bean from one grade level to the next. The reason for my comment "others may not".
And then factor in original purchase price. When already under water throwing more money at a coin may not make sense....

The reason for "others may not" is valid....So at this point I have to disagree with you disagreeing with me.......
1883-O Nut
Valued Member
Learn More...
United States
244 Posts
 Posted 06/11/2021  10:13 pm  Show Profile   Bookmark this reply Add Winesteven to your friends list Get a Link to this Reply

Quote:
There are mint issues that do not increase in value the cost of a green bean from one grade level to the next.


1. I don't understand. Getting a CAC is not expected to increase the value of a coin to that of the next higher grade. The point is many buyers will pay at least $16 more for a coin with a CAC than the same coin without a CAC, even low priced coins. I see this regularly on GC.


Quote:
And then factor in original purchase price. When already under water throwing more money at a coin may not make sense....


2. If a coin is already "underwater", let's say for example it's now worth $100 less than the price paid, what's wrong with spending $16 and ending up with that coin now only $60 underwater after getting a CAC? Getting the CAC in this example is still worthwhile!

Steve


A day without fine wine and working on your coin collection is like a day without sunshine!

My collecting "Pride & Joy" is my PCGS Registry Dansco 7070 Set:
https://www.PCGS.com/setregistry/ty...edset/213996
Edited by Winesteven
06/12/2021 10:52 am
  Previous TopicReplies: 9 / Views: 512Next Topic  
 
To participate in the forum you must log in or register.





Disclaimer: While a tremendous amount of effort goes into ensuring the accuracy of the information contained in this site, Coin Community assumes no liability for errors. Copyright 2005 - 2021 Coin Community Family- all rights reserved worldwide. Use of any images or content on this website without prior written permission of Coin Community or the original lender is strictly prohibited.
Contact Us  |  Advertise Here  |  Privacy Policy / Terms of Use

Coin Community Forum © 2005 - 2021 Coin Community Forums
It took 0.43 seconds to rattle this change. Powered By: Snitz Forums 2000 Version 3.4.05