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 Replies: 28 / Views: 4,944 |
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Pillar of the Community
United States
1662 Posts |
Quote:
Actually, no. I understand the purpose of the CAC sticker perfectly. It is to generate revenue from the bulk of already graded and slabbed coins in the market via the specious pretense that they are able to pick out premium coins in the grade. They'll sticker anything. What, no slabbed coin has ever been over-graded? |
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Pillar of the Community
United States
5212 Posts |
No pics = no reason for discussion just hate mongering between the "slabs" and the "CAC's" and the "buy the coin no the slab's"
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Pillar of the Community
United States
937 Posts |
Actually, no. I understand the purpose of the CAC sticker perfectly. It is to generate revenue from the bulk of already graded and slabbed coins in the market via the specious pretense that they are able to pick out premium coins in the grade.[/quote] Quote:
That is not the purpose of CAC. And I'm not going to try and explain it again.
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Well actually CAC, like all other business, is in the making money business. Period.
Anyone who says otherwise is selling something.
The fellow who runs CAC is a knowledgeable and respected numismatist, if he wasn't no one would pay for his services. He is selling his opinion to make money. He is not doing anything out of kindness for anyone. He is not a philanthropist, nor your favorite uncle. He is a businessman who found a way to get people to pay him for his opinion, just like the founders of PCGS, and NGC before him, and Walter Breen before them.
I see it as a sad commentary on this hobby that when numismatists get together the talk sooner or later comes around to if the coin is in the correct holder with the preferred number on the proper label with the right colored sticker.
Oh, by the way, two of those plastic holders got introduced to my vise this weekend so your beloved pop reports are even more wrong! BWHAAAA!
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Pillar of the Community
United States
937 Posts |
well that was good! I got the wrong part in the quotes!
What a dummy!
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Bedrock of the Community
United States
10982 Posts |
CAC employs some of the top numismatists in the world and charges me $12.50/coin for those coins that do sticker and $0 for those that don't. They are not making money charging those rates to sticker coins. I would estimate they lose money stickering coins based on a 7 figure annual overhead.
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Pillar of the Community
United States
937 Posts |
So, BH1964, You say they have a business plan to lose money and eventualy go broke just so they can assure us poor coin collectors that we are buying the best coin possible?
Please explain what you think his motive is.
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Bedrock of the Community
United States
10982 Posts |
CAC's business model is to make a market in the coins they sticker, particularly early gold. The money is not "in the stickering". The money is in buying stickered coins - CAC will purchase most any coin they sticker.
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Pillar of the Community
 United States
5828 Posts |
Wait, so you're telling me that CAC gets a submission and buys some of the coins off of the dealer that submitted them?
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Pillar of the Community
United States
937 Posts |
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CAC's business model is to make a market in the coins they sticker, particularly early gold. The money is not "in the stickering". The money is in buying stickered coins - CAC will purchase most any coin they sticker. I hope this is wrong. If this is his business model then CAC is no different than Centsless or the long line of TPG services who 'created a market' by grading their own coins etc. As the only way to make money buying is to sell it for more I think the major market players would be lineing up to scoff at CAC beans if your model is correct. If you have proof that "CAC's business model is to make a market in the coins they sticker," then I, for one, would love to see it. |
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Bedrock of the Community
United States
10982 Posts |
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Wait, so you're telling me that CAC gets a submission and buys some of the coins off of the dealer that submitted them? Sometimes they do. And owners of CAC'd coins can almost always get cash offers to sell them to CAC. Just call. Quote:If this is his business model then CAC is no different than Centsless or the long line of TPG services who 'created a market' by grading their own coins etc. The difference of course is CAC is not grading coins. They are sorting out PCGS & NGC coins that are solid for the grade or better. Quote:
If you have proof that "CAC's business model is to make a market in the coins they sticker," then I, for one, would love to see it. Sure. Check their website: http://www.caccoin.com/ It has this line - "CAC is an active bidder on many CAC coins. In fact, CAC has purchased over $275 million of CAC verified coins." |
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Pillar of the Community
United States
4471 Posts |
John Albanses the owner of CAC is well respected in the industry. John was one of the founders of both NGC and PCGS and sold his interest in both TPG companies. As noted CAC stickers coins for a fee. The prime purpose of the sticker is to allow CAC to purchase a coin that they have already inspected in hand and to resell the coin to a dealer at a profit. John also is one of the founding members of a company called CoinPlex. CoinPlex is a network of dealers only to trade CAC stickered or plus graded PCGS and NGC coins between dealers. The public can not purchase CAC or plus coin through CoinPlex. CAC typically likes coins that are well struck and most often coins without a good strike will not sticker. |
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Pillar of the Community
United States
937 Posts |
Thank you,BH1964, I had never been to his website. Quote:
The difference of course is CAC is not grading coins. They are sorting out PCGS & NGC coins that are solid for the grade or better. No difference at all, he is just grading an already graded coin, and for just $12.50 tells you that he would buy it. Quote:
John Albanses the owner of CAC is well respected in the industry. Well that does not carry the weight it once did for me. Sure he most likely has more numismatic knowledge than I could gain in two lifetimes, but when it comes down to it he has created three companies that has made it easier for the rest of the industry to make more money. I was not wrong CAC is in business to make money, he is just making it in a more back door way than I thought. |
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Pillar of the Community
United States
7390 Posts |
Don't take this the wrong way Andrew but you seem to have a numismatic chip on your shoulder with various areas of the coin collecting spectrum
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Replies: 28 / Views: 4,944 |
First Page
Posted 05/03/2016 12:17 am
