Fair enough Mike, i was just trying to illustrate that their may be a difference of opinion that was not based on being ill informed. Chris
I rarely buy slabbed coins. Here's the question: Do you care what somebody else thinks of your coin? The CAC is pretty much a judgment of eye appeal. Before I buy a coin with a CAC sticker, I am going to buy one with fancy gold stickers in the shape of a star. Gold is always better than green.
I think you should be able to confirm a great example on your own and if you cant you should find a new hobby. Not all coins are slabbed equal because every individual coin has unique features. Before you spend big time bucks on a coin with a specific grade always try and look at many examples to get a feel for what you can expect. Doesnt PCGS and NGC have there own versions of CAC stickers??? Im referring to the plus (PCGS) and the star (NGC)???
I would use CAC...if I were blind and couldn't plainly see for myself if a coin was high or low for the designated grade. Aside from that, to me it's paying extra for the Duhh factor. Guy
If I just had to have that coin, and couldn't find the same grade in a TPG slab without the premium of CAC bean, I might consider it. Or I'd just wait to get it at a lower cost without the bean. It may just be me, but I think the CAC thing is madness.
This has been an interesting discussion to someone not all that familiar with CAC and their history and policies. My only knowledge of them comes from my observation that those coins with CAC stickers seem to command a significant premium at Heritage and on eBay.
I guess some of you guys don't know who John Albanese is. There are many who consider him to be one of the best graders in the world... So to some people that little green sticker DOES mean something.
I don't doubt that all all. Like some others have said, to me it's just another way to raise costs to collectors, while putting money in the pockets of yet another step of grading services. It obviously does appeal to those appreciating that bean on the slab.
Funny this thread came up. I really don't see CAC as just a second opinion, but it makes the reinforcement of the grade that much more better. Because isn't it better to have two of the same nods better than trusting Mr. Jones that only wore one contact lense that day?
This subject has been discussed many times in the past... here's just one thread that presents a few different viewpoints: http://www.cointalk.com/t195622/
This is easier said than done. A buffalo nickel is relatively easy to grade. But once you get into say Peace dollars or $2.5 or $5 Indians, I'd like to see everybody on this forum's record grading them. You've seen the polls. People's guesses are all over the place. Most of the forum would fail in grading those. So does that mean people should over pay or dealers should get ripped off because somebody's grading skills aren't good enough for the series? Or maybe they just shouldn't collect the series? Many issues are very difficult to grade. As for the CAC argument, here we go again..... If a new car dealership has only been open for a year, should we assume that everybody working there only has one year of experience in car sales? Even if JA wasn't running the show, the thinking here is unrealistic. I don't feel that a 2nd opinion on the slab is all that bad. They don't charge nearly as much as the TPGs for the service. It's all that is needed as a check if somebody wants it. A third opinion would be getting carried away and unnecessary. Sometimes people get all worked up over nothing. There's nothing wrong with buying a slabbed coin with a CAC sticker if you like the coin. I only have one in my collection so I'm not defending them because I have anything invested in them. They don't bother me at all though.
If I see the same coin, with the same grade, but one of them has a CAC label, I buy the CAC coin. That being said, the CAC label does little for me but who am I to argue with Albanese. With grading being so subjective, all you are doing is getting opinion. Even though that opinion may very well be by the most respected name in the business.
I think it's possible that some people fail to make the connection that coins that are at the high end of the grade assigned on the slab,or under-graded will bring premiums(to knowledgeable collectors and dealers) over coins that are at the bottom of the grade assigned or just plain ugly. Old rattler holders, NGC fatty holders and even some old small Anacs graded coins are a perfect example. People assume that grading standards were more strict back when these holders were used, so people will pay more for them in the hopes that they will upgrade in the future or at least continue to command a small premium over their newly graded counterparts. CAC coins bring more money, not only because they have a little green sticker on them, but because they are generally nice coins for their grade. The only thing the CAC sticker does is point out the coins that other people felt were exceptional and JA concurred. You should still make the decision for yourself whether or not the coin deserves the premium. But price guides are just a guide. And dealers will charge more for exceptional coins with or without a sticker.
You are certainly entitled to your opinion, but let me ask you a question.... What's the difference between the "premium of the CAC bean" and the "premium for a nice coin"? More importantly, why do you seem to view them as mutually exclusive?
I find that people become irritated whenever CAC is brought up because they are put in a position where they have to justify their own collection/inventory. In my amatuer non dealing opinion CAC is a reassurance of the grade. An added bonus which carries more weight than OGH. Just from a buyers perspective here.
All I can say is buy the coin and not the slab, or the bean. Grading is so very subjective that no 2 people may grade the same. If people want CAC confirmation of the grade then it's their option. I just wonder where it will all stop. Will we see next someone else setting up shop to verify Albanese's opinion? And it is just an opinion, whoever makes it. I guess my own opinion is based on my not getting hung over things like a coin being a low or high MS69. I don't collect to resell, I just collect for the fun of it.
