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 Replies: 32 / Views: 4,619 |
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Valued Member
Canada
288 Posts |
CAC has been a real help in sorting coins that are original and high-end for the grade from the dregs. There has been some debate lately as to whether or not those strict standards have been loosening, but that's besides the point.
Would such a service help the Canadian coin market? We have spoken here ad nauseum about ICCS's inconsistencies of late. Would collectors benefit from a service that recognize true gems?
Let's get some opinions!
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Pillar of the Community
Canada
2495 Posts |
I'm dead against it. If collectors would learn to properly and confidently grade a coin, then ONE third party grading company is more than plenty to assist us with our opinion of the coin. We do not need a second. What's next....a third sticker on the second's opinion? Here's where we may end up if this continues..... My comical rendition of a future slab (the top two are legit companies - CAC and PQ.  The last four are of course fictitious companies.... PGIP.......Properly Graded In Prison IDU........It's Definitely Undergraded LGTM.......Looks Good To Me YCL........You Can't Lose. Edited by doubleeagle59
01/09/2017 6:12 pm
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Valued Member
 Canada
288 Posts |
Of course, in a perfect world collectors would learn how to grade properly. The reality is many do, but far more do not. Many collectors can't even tell if a coin had been cleaned. ICCS has a nasty habit of not identifying problem coins that people get burned on.
An approval service would also help ingrain an appreciation for an original coin vs a coin that's been processed, even if the processing is market acceptable.
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Pillar of the Community
United States
4233 Posts |
I always figured the best use for such a service would be finding the coins that got submitted but didn't get the sticker, but they won't do that. For some reason I get a kick out of the part where supposedly there's A, B and C quality within one Sheldon grade. Quote:
Why can't I use the CAC Verification Search to look up a PCGS or NGC graded coin that has no CAC sticker to find out if it has already been reviewed by CAC?
Many coins that CAC has reviewed, but did not sticker, have been accurately graded by PCGS or NGC. However, CAC stickers only coins that are solid for the grade, often referred to as B quality coins, and those that are considered high-end for the grade, which are often called A quality coins. Those that are accurately graded by PCGS or NGC, but are considered low-end for the grade and often referred to as C quality coins, are not stickered by CAC.
Furthermore, CAC wishes to protect the interest of an owner of a coin that has been reviewed by CAC but did not receive a sticker. Therefore, CAC does not want to compromise the value of such a coin by disclosing a negative review by CAC. |
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Pillar of the Community
Canada
2495 Posts |
kbbpll......I agree.
But we all know why this information is not available, because if it was, no one would submit their coins to CAC (and CAC would go out of business) , for fear of having an unsaleable coin on their hands when CAC rejected it for a sticker.
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Moderator
 Canada
10456 Posts |
WINGS does apply their sticker on Canadian coins in ICCS and CCCS flips... we exchanged emails on the concept of me being a WINGS Canadian representative. I declined, because I said if they had any idea how the Canadian numismatic market system works, they would not waste their time here...
"Discovery follows discovery, each both raising and answering questions, each ending a long search, and each providing the new instruments for a new search." -- J. Robert OppenheimerContent of this post is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License. See: http://creativecommons.org/licenses...0/deed.en_USMy eBay store
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Valued Member
Canada
288 Posts |
Scale is definitely an issue
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Pillar of the Community
Canada
5394 Posts |
Also had some past conversations with WINGS. Even had a chance in person at last years Dallas ANA to see what they do . To be cheeky it just would not fly in Canada is sort of the answer I gave them. The realities of the Canadian Coin market are that it is very, very small and thinly traded. So for sure there would be little money in an opinion of an opinion. Which in reality is all that CAC is to the US coin market. The big difference is the size of the market and collector , investor base. I would be quite willing to bet that Canadian coins collected at a high level would not even crack the top ten collected countries in the world. Some recent stats from NGC show that they Grade South Africa more often than Canada . |
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Pillar of the Community
 Canada
5585 Posts |
I think that the whole idea is ludicrous. It's another way to suck money out of people in the hobby and, ultimately, try to coerce people into buying extra differing "opinions" when all they need is their own eyes.
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Valued Member
Canada
288 Posts |
So there are those who believe the entire concept is unnecessary, and other who believe the market here could not sustain such a service. A couple of points: I don't think the whole thing can be written off as unnecessary. Collectors often seek advice on the grade of a coin from multiple sources. Such a service fills that need for coins that have been TPG certified. I don't really think it's ludicrous to get an opinion of an opinion, we do it all the time in this hobby. It is a shame something like that doesn't have the potential to work here simply because of the size of the market. Like I said, it helps, in part, to train the eye of the novice collector. As an aside, what happened with WINGS? I never see their stickers... |
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Pillar of the Community
Canada
2495 Posts |
Quote:
As an aside, what happened with WINGS? I never see their stickers... I think you have answered your own question. |
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Valued Member
Canada
288 Posts |
That was pretty good  |
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Pillar of the Community
Canada
5394 Posts |
They are still out there. Web site still active.
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Moderator
Canada
10456 Posts |
Coin dealer Hugh Powell offers the same service, for free with his inventory, he just uses a blue sharpie and writes 'PQ' or '++' or other forms of his "opinion" on the ICCS flips...
When it comes to nicer coins, you have to trust your own eyes...
"Discovery follows discovery, each both raising and answering questions, each ending a long search, and each providing the new instruments for a new search." -- J. Robert OppenheimerContent of this post is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License. See: http://creativecommons.org/licenses...0/deed.en_USMy eBay store
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Valued Member
Canada
288 Posts |
I do tend to agree. Plus, I was going to say that dealer PQ stickers have been around forever. Trusting one's eye is naturally the best thing to do. The altruistic part of me wanted to address the problem of people not having trained eyes to trust.
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Moderator
Canada
10456 Posts |
Quote:
The altruistic part of me wanted to address the problem of people not having trained eyes to trust. Experience can be a harsh teacher, but is the best way to learn sometimes... "Discovery follows discovery, each both raising and answering questions, each ending a long search, and each providing the new instruments for a new search." -- J. Robert OppenheimerContent of this post is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License. See: http://creativecommons.org/licenses...0/deed.en_USMy eBay store
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Replies: 32 / Views: 4,619 |
Posted 01/09/2017 6:10 pm
