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 Replies: 40 / Views: 2,056 |
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Pillar of the Community
United States
1865 Posts |
I don't have any gold double eagles, I'm thinking of buying a $20 gold double eagle liberty head, maybe a 1904, 1907, the more common dates in MS62 or MS63. I'd prefer one graded rather than raw. I've noticed ebay listings are starting to have some coins in CAC holders with grades. I knew CAC was starting to grade coins, make their own slabs/labels. Buy the coin, not the holder. I suppose it's too early to say but I'm wondering how well CAC slabs/coins will compare with PCGS, NGC, ANACS in the future. If I could buy a gold double eagle in a CAC would that be a good choice? Those buying coins annually for sets I assume would want to stay with the same company and label, would not want a CAC. Edited by livingwater
01/05/2024 09:14 am
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Moderator
 United States
56855 Posts |
Always buy the coin not the holder. John1  |
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Pillar of the Community
United States
1477 Posts |
As you say, buy the coin not the holder - however there are many collectors who are brand loyal and depend on a TPG's opinion on grade. Personally I wouldn't roll the dice on a new brand. |
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Bedrock of the Community
United States
94367 Posts |
Agree. Not yet convinced these will catch on.
Edited by Coinfrog
01/05/2024 09:51 am
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Pillar of the Community
United States
1331 Posts |
Anecdotally, from things I have seen and read, CACG is being very tough with their grading standards. I am sure you will get a quality coin for the grade in a CACG holder, but as others have said, buy the coin not the holder.
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Bedrock of the Community
United States
10975 Posts |
For the common date liberty head double eagles, there are tens of thousands that have been graded in pcgs/ngc holders. As a result, the price difference between non-gem BU coins is not that great. The CAC coins trade at a premium so unless you feel this premium will widen, I would avoid CAC. I would look through all the 63 and 64, pcgs or ngc graded non-CAC coins that I can at larger shows and try to find a coin that has good eye appeal. Like others have said, buy the coin not the holder, and try to see which coins appeal to you and have a great price tag. Many coins in this grade range will be very baggy so take your time and find the outlier with great eye appeal. With the price of gold over $2k/oz, the baseline melt value is high, but that compresses BU coin prices because there is a limit to what someone is willing to pay for a common date coin. Patience and waiting for the right pitch to swing at will be rewarded.
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Pillar of the Community
United States
4398 Posts |
There is nothing wrong with buying a CACG coin, but you are most likely going to pay a premium for the CACG. The CACG with a L in the serial number was a crossover from a PCGS or NGC with a CAC sticker to a CACG holder. The L stands for Legacy for the stickered coins by CAC before their grading company started. The early returns on the CACG straight graded coins are much like the coins that CAC was stickering. I would not be surprised that these CACG graded coins become more valuable than the stickered coins or legacy coins. On a common date $20 in MS62 or MS63 you are stacking gold with the assurance of getting a genuine example in the TPG holder. Go on the hunt for a nice NGC or PCGS MS63 that is comparable to a CAC stickered coin. The obverse of the $20 Liberty is very baggy if you want a nice one you may need to get a MS64. See the example of a Legacy coin below.  Edited by Slider23
01/05/2024 11:31 am
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Pillar of the Community
United States
4233 Posts |
I suppose you could consider the future slab collector too. I wouldn't, but it's a thought.
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Pillar of the Community
United States
2207 Posts |
Buy the coin, not the holder.
So many know this, and yet the majority buy the holder, not the coin.
You realize when you know how to think, it empowers you far beyond those who know only what to think.
-Neil deGrasse Tyson
Edited by NumismaticsFTW
01/05/2024 3:03 pm
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Pillar of the Community
United States
4346 Posts |
IMHO, the green beans are a half-baked concept. Again, BUY THE COIN and can the beans! Quote:
So many know this, and yet the majority buy the holder, not the coin. Considering the high price of coin beans nowadays, I suspect that most purchasers are investors with a product mentality. While I can appreciate this aspect of the hobby, I can't identify with it. My priorities have long been history and beauty; this, judged by my research and my eye. Hold the beans! |
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Bedrock of the Community
United States
33743 Posts |
Another gimmick, just buy a coin you like and feel is graded properly.
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Pillar of the Community
 United States
1865 Posts |
Thanks all for your wisdom and opinions. I'll be patient and start looking.
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Bedrock of the Community
United States
94367 Posts |
I'll say this much, CAC has a cheesy-looking holder.
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Bedrock of the Community
United States
12046 Posts |
CAC holders are already bringing premiums; CAC has built considerable faith in their grading standards despite some of the dirty laundry behind the company that doesn't often get aired (CAC and CAC member-dealers made their own market by buying the coins they stickered themselves at inflated prices to reinforce the notion that the CAC sticker adds value, a great example of illusion becoming reality.)
Like everyone else says, buy the coin. A good coin will always bring good money even in the cheesiest holder you can find.
Part of the issue is also that there are a lot of people buying coins as investments who have little or no numismatic knowledge, and so they have to rely on the holder because they are literally incapable of grading or evaluating the actual coin inside. I think ExoGuy touched on this aspect of the business.
Member ANA - EAC - TNA - SSDC - CCT #890 "Most of the things worth doing in the world had been declared impossible before they were done." -- Louis D. Brandeis |
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Bedrock of the Community
United States
10962 Posts |
Sounds like you're looking at generic double eagles so don't pay a premium for a CAC holder. PCGS and NGC are fine, particularly in grades under MS65.
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Valued Member
United States
88 Posts |
I agree that it's wise to "buy the coin, not the holder." But I draw a distinction between "buy the coin that Bikergeek likes" and "buy the coin that John Albanese (CAC founder) likes." And if there's a delta between those, I'm guessing that John's opinion carries more weight. (No false humility there - just experience telling me that it's wise to listen to experts.) I also try to evaluate risk to my "portfolio" (really, my "collection" - or even, "my babies") by asking, "could I sell this coin without taking a beating if I needed to raise funds in a hurry?" and for some holders/stickers, the answer is a strong "yes," while for other holders - or raw coins - the answer is only "maybe," despite my own opinion of a coin's merits. Like it or not, "the market" has a say in the value of my coin. I don't (yet) have any CACG graded coins, but I have numerous CAC-stickered coins, and I always find them easy to sell. And whether CACG grows, or folds, I think coins in their slabs will be solid for grade, retain a good chunk of their value (or appreciate), and will be marketable. Look at the folks who buy PCGS "old green holders" or "doily slabs," or ANACS "soapbox" or "soapbar" holders, or NGC "fatties." They may not always be excellent coins, but they're perceived to be excellent-adjacent! More about John Albanese here: https://www.coinagemag.com/numismat...hn-albanese/ |
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Replies: 40 / Views: 2,056 |
Posted 01/05/2024 09:26 am
