Quote:Two different animals here.
Differentiate between an investor and a collector investor:
A) An investor sees no difference among baseball cards,
Salvador Dali prints or
Morgan dollars. He or she
understands even less about then. The motivation is to
make a profit. Has no enjoyment in the item.
B) The collector investor understands coins, enjoys
possessing them and potentially seeks to make a modest
profit over time.
The third party graders were created to cater to the
investor who did not want to look at the item, only at a piece of paper that said "So and so says that this is the best." The collector investor has largely become the customer for the TPGs. And the collector investor wants to see the coin.
Now I understand what you meant. So I both agree and disagree with you. I don't agree that is why they were created, however, I agree that was the outcome, intended or not. However, it maintains usefulness to common Joes like myself.
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1. The CAC bean is part of the holder. Don't buy the holder because of the bean.
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2. CAC coins can be terrible strikes. Beauty is in the eye of the beholder, and I have seen CAC coins I would not buy based on eye appeal. So I see CAC as affirmation of technical grade rather than coin quality.
Yep, that's more or less their mission statement, though if coins truly have atrocious eye appeal they will reject.
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he 66s were great. The 66+ CAC was so badly struck that only 1/3 of the 1 and 1/2 of the 3 were visible. The CAC coin nonetheless sold for a 40% premium over the 66s, one of which I bought and enjoy owning.
I can understand that. Typically the market tends to price a MS-6X+ as the next grade up, in this case the 66+ CAC was priced as a 67. Though I have no problem with what you did and probably would do the same.
Quote:I once made the never to be repeated mistake of buying an MS66 CAC 1924
Peace dollar at a good price off a bad
ebay photo, relying on CAC's approval of eye appeal. Big mistake. I don't like the coin due to its blotchy oatmeal toning. Never would have bought it off a clear picture. Bought the holder, not the coin, that time.
A mistake we all make.
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3.During the last two years I have seen CAC premiums range from $0 to over 50% above retail, depending on the issue and the eye appeal of the coin. They can be negligible or prohibitive. When they get high, I look hard at the next grade up.
Really depends on the rarity of the coin. A common coin with a CAC sticker won't bring a notable premium, but a grade rarity will bring a much larger premium.
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I view the CAC sticker as part of the holder, and I buy the coin in the holder and not the CAC sticker.
Always do this.
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The CAC people know a lot more than I do, so when I see the bean I look closely at the coin, knowing that someone very knowledgeable thinks it's a great coin.
Good concept though I will add this caveat, don't buy a coin because somebody says it's nice, buy it because YOU think it's nice.
First Page
CACs will be like Stradivarius violins.
Posted 05/14/2020 3:31 pm
