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 Replies: 29 / Views: 2,459 |
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Pillar of the Community
Canada
857 Posts |
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Pillar of the Community
United States
646 Posts |
So you're basically paying someone to "grade the grader"?
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Pillar of the Community
United States
9792 Posts |
Quote:
So you're basically paying someone to "grade the grader"? Sort of - in a nutshell YES. While there can be say 100 or the same date/mint mark Morgan dollars all graded at MS65 but some look better than others, technically they are all the same grade (for the sake of the example). A few (maybe 10-15) are on the very high end of the MS65 scale or even better, while a good many others (60-75) are just average and a few might be questionable in a MS65 holder (maybe 15-20). The CAC grades the coin based on the TPG and the Grade assigned, so a green sticker (green bean) is a coin that is above the average MS65 coin but not better than MS65, while a Gold Sticker indicates this coin is exceptional value for the MS65 grade, possibly undergraded by a point or more, and has seriously above average eye appeal, possibly incredible toning that adds to the value. MS65 coins rejected by CAC will be ugly toned, dark, generally just not attractive or on the very low end of the grade assigned by the TPG, or possibly even over-graded. The very first company I can recall that did this was Richard (Rick) Snow of Eagle Eye Coins, he only does it for Indian cents and Flying Eagle cents. His brand is called "Photo Seal" https://www.indiancent.com/photoseal/Here is some more information available on CAC at Wikipedia: https://en.wikipedia.org/wiki/Certi..._CorporationSince this is more for a discussion I will do a bit more writing on it and post over on the TPG forum instead of here on GrapeCollects grading thread. Since he works for one of the "Old School" dealers himself he may also have some valuable input on CAC coins. https://www.caccoin.com/"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/140440Edited by westcoin
03/31/2020 12:07 am
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Pillar of the Community
  United States
8938 Posts |
More or less Wideglide. The point is to ensure and disinguish quality coins within the market. Very important for high grades and rarities. Nobody wants to pay an MS-68 price for a MS-67 or MS-66. But would happily pay a small premium for a choice 68.
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Pillar of the Community
United States
8938 Posts |
Annndd time to show you all how overgraded it was! The answer? Very!  |
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Pillar of the Community
Canada
857 Posts |
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. So you're basically paying someone to "grade the grader"? Yae and nae, CAC is basically one of American numismatics biggest names, who applies strict grading standards to coins and compares the TPGs grades to his own, if he stickers a coin, then that means he feels it's at least solid for the grade, so you have his highly held opinion to back up your coin as well as the TPG's, assuming he stickers it. It's IMO mostly a marketing thing, but some people only buy coins that are CAC graded, which I personally find silly, especially if people are letting that be the deal or no deal if they buy a coin or not, because even though the guy at CAC (John Albenese I believe His name is, might be mistaken though) is one of American numismatics biggest names, I find he stickers some meh and average looking coins. Of course it's a lot more understandable as his opinion of a good coin is decided by him and him only, just like everyone else's opinion on what a nice coin is, whereas a TPG grade, though also subjective as well, is a lot more 'by the books'. Basically I think some collectors need to focus more on what they find to be a nice coin, aside from what the market thinks, assuming that they're buying for their own collection. Sorry about breaking this soap box, whomever left it here  |
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Pillar of the Community
Canada
857 Posts |
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. Annndd time to show you all how overgraded it was! The answer? Very! Unfortunately someone will probably pay close to retail for this just because of PCGS' reputation., Marketing a coin like this, even when it's over graded is beyond easy. |
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Pillar of the Community
United States
9792 Posts |
WOW, Grape, I thought it might be MS67 the TrueView photos looked much nicer, If I saw just the photo of the slab, I might have gone MS65+ or maybe 66 the coin is much more cloudy or hazy than I thought, though the color in toning is still choice IMO. The marks on the back of the neck seem to be more prevalent as well, I thought maybe they weren't as deep as they show to be now. If the price is right, it's still a good looking coin, I agree over graded by PCGS by a point or a point and a half. 1892 is by far and away the most graded date of the series. and MS66-67 coins are fairly abundant compared to other dates and mint marks, so if this coins is a heck of a deal then I'd consider it, however bear in mind 1892 MS67 have gone from almost $5000 in 2015 to under $2000 today MS66 coins have not changed much in price during the same time frame. MS68 really took a hit. I see this one sold at the lastest Kagin auction - https://www.PCGS.com/auctionprices/...878441635953 at the February ANA show. "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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Pillar of the Community
United States
8938 Posts |
@Westcoin, they're asking $2700. I'm not biting at that price. If they marked it at a MS66 price, I'd take it right now.
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Pillar of the Community
United States
9792 Posts |
Yeah a $660 mark-up in about 25 days on a coin that has been going down in value the past 5 years, probably right on to pass. It was probably over priced at the ANA auction too, but purchased for the holder alone, that's an ebay coin all day long. It might even make them a $1000 just because of the grade and the color might cause some to overlook the dig/dings. "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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Pillar of the Community
United States
8938 Posts |
I guess....
Buy the coin not the holder doesn't apply anymore
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Pillar of the Community
United States
7292 Posts |
Grape,
With the registry sets, buying the holder is more important than the coin.
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Pillar of the Community
Canada
857 Posts |
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. Grape,
With the registry sets, buying the holder is more important than the coin. It's all about bragging rights as far as I can see. How the majority of collectors haven't figured this out is a mystery to me. |
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Pillar of the Community
United States
1023 Posts |
Very nice coin but Id have also said 66. I think the hits on the face can technically make it 65 but its good looking to me. Probably has nice luster in person.
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Replies: 29 / Views: 2,459 |
First Page
Posted 03/30/2020 10:42 pm
