Collector's Acceptance Corporation....The Consortium

There is a lot of misinformation on this thread. The "CAC" isn't actually going to validate the numerical grade, they are going to give you their opinion (in sticker form) as to whether or not the "coins meet CAC standards for premium quality within a numerical grade." -August 6, 2004; Coin World; p. 5

 

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Exactly.

It is easier to fake a slab than a coin, and easier till to fake a sticker than a slab.

Next we will need someone to start a business to authenticate the stickers.

I might get a cheap example fo this new product as it will soon be a collectors item as a numismatic oddity, once they go out of business that is.

 

Tamper proof was how they referred to the sticker. But who knows. I'm not personally planning on using them. I will rely on my own knowledge and learn to spot nice coins.......I buy most of my stuff raw anyway, especially large cents.

 

Embrace the suck.

I seem to remember seeing ads in CoinWorld around the middle or late 90's from someone doing something like this. Only it didn't involve stickers but something like grading the graders. Anyone remember that? Maybe it was just a nightmare.

Remember now: "Buy the sticker and not the slab." At least until someone else comes along to put bows on the stickers that are on the slabs.

Tamper proof bows, now that's where the real money is at. With all the different colors and bow configurations it would be like General Motors usurping Henry who only wanted one color for his "motor cars."

 

Well at least that will kill the other nonsense slabs such as SGS LOL

 

http://www.coinconsortium.com/

Okay, as it was described here - to do away with some of the misinformation - I still think they will fail. Are dealers really going to pay 20% to 40% more for a coin with this sticker on it? Do you think they can recover that in the market?

On the flip side - Do you think the PCGS and NGC only grade 10% to 20% of their coins correctly by not identifying doctoring? I know it has been said here that up to 80% of the coins submitted have been dipped to up the grade. It has also been said the some TPG's may do the same thing in order to raise the grade. Pretty coins increase profits right? Are collectors going to pay more for coins they think are pretty naturally?

The sellers or auction houses are going to be the one using this service. In order to use the service they are probably not going to submit many coins that they feel have been doctored (maybe).

If PCGS and NGC has their act together they will just add another tier of grading - I can see it now - a platinum sticker inside the slab to certify the coin has not been doctored in any way. The end for CAC. For coins already graded just charge a small fee for the additional grading with a new slab. No ugly sticker on the outside of the slab that could be a fake.

 

These will never make it into the CAC food chain...

 

I wondered how long it would be before CAC came to Cointalk, lol. It's been on the PCGS and NGC boards for weeks. I'm not sure what I think about it yet...have to wait and see what happens after they get up and running.

 

A thought that I had was, maybe the CAC is doing this to try to keep the government out of the numismatic business. Self regulation, so to speak. "Look at us, we're policing ourselves."
Well, maybe it was just half-a-thought.

swick

 

Next evil plot:
counterfeit stickers.

 

This thread sounds strangely familiar to "Les Fox"' attempt at something very similar.

We addressed his venture...

HERE

His fee was $15 per coin.

Again twice the grading fee for your coin to be graded again.

I've checked Les Fox's website again and looks like the idea is now defunct. That will most likely happen with this new endevour.

I wonder if Les Fox is involved with this CAC endevour?

 

If Les Fox is involved, I'm sure we will see a CAC price guide published with all the information about 5 and 10 year price projections and how much everything will rise in value.....did you ever see his book on Beanie Babies...:rolling: .


I do have a lot of respect for Mark Feld who is involved with this situation. Having his name involved with CAC does raise its legitimacy somewhat in my eyes.

 

I haven't even bothered to read though this whole thread as the whole idea is so ridiculous.

I think we would ALL like to see SGS, GEC etc just disappear but to have another source (TGP?) do it is really silly.

I'm afraid only education will EVER accomplish this and a large chunk of the population CHOOSES to remain clueless.

So I keep hoping that we can educate.

 

I am all for it.

The TPGs have too much power and abuse it.

Time to reign them in.

 

Without being in support or against it, I will say that I think the problem with "gradeflation" is worse than many realize. In some series, like gold, the quality of the coins in holders can be very poor.

Is the CAC the answer to the problem? I don't know. But there certainly is a problem with overgraded coins in holders.

 

I feel NGC coins have a better chance to improve their selling price if stickered.

 

I would generally agree, although this whole situation still feels to me like "double-grading" of a coin. For me, it all comes back to "buy the coin, not the slab - and now the sticker too."

 

I see all those MS 65+ double eagles, 1909 S VDBs and other higher value coins trying to get these stickers and that just gives them more to advertise in their auctions.

This coin is authentic as hell. It has the CAC sticker blah blah blah

or

I tried sending in my coin into the CAC and they said it was graded wrong. COULD IT REALLY BE HIGHER, YOU BE THE JUDGE!!! (edits photos) Yup I think it's higher

 

Hopefully. I despise the fact that PCGS coins get way more respect that NGC coins. I don't believe there are any known facts (at least to me) that warrant this.

 

You know, I was just kidding in my previous post, but now that I read Bruce M's (Legend Numismatics) quote on the website that was cited a page back ( http://www.coinconsortium.com/ ) ...

"This is NOT a grading company - it's a market maker. It inspects coins already graded and marks those it will make a market in."

...I'm not so sure I am that far off the mark after all. Making a market in some coins means choosing not to make a market in others. If enough top tier dealers sign on and refuse to make the market in some coins... well, one or two things (at least) can happen:

1) Drop in prices for coins for which a top tier market is not made.
2) More scammers around to shill the coins for which markets are not made-- including the good, the bad and the ugly.