CAC Piggybacking

Anybody offer this? I asked some local dealers, they want $12 per coin, plus shipping costs, plus a $15 fee for the paperwork! Ripoff... I think CAC charges $8 per coin that stickers, nothing for ones that don't sticker, plus shipping? No way I'm paying a dealer that much to send some Mercs in for stickers.

 

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For dealer submissions, CAC charges $10 per coin, whether the coin stickers or not. For collectors who submit to CAC, there is no charge, unless the coin stickers.

So the dealer is charging a flat fee of $15, plus $2/coin. That doesn't sound like a ripoff to me. And you should have your facts straight before you accuse someone of such.

 

Hmm... Interesting that they would give individual collectors a better deal than dealers... kinda questionable in terms of business practicality and rewarding your highest volume customers.


From their website...
"Collectors will be charged the same submission fees as dealer members: $10 apiece for coins valued at $10,000 or less, $20 each for coins valued at more than $10,000. They also will be responsible for all shipping charges to and from CAC.
But those who are accepted as Advanced Collector/Submitters at this time will receive two special benefits.
First, they will be exempt from any fee increases through Dec. 31, 2012 on up to 100 coins per year. The regular fees will be charged on submissions exceeding that number in a given year.
Second, collector members will not be charged until at least Dec. 31, 2012 for any coins that do not receive stickers from CAC."


Thanks for making me take a look. Easy to see how I was confused. Don't know where the $8 came from, I'm pretty sure I heard that from someone else on here.

 

The fee has been $10 from day one. It was never $8.

And, contrary to what some people with chips on their shoulders want to think - I am not speaking of you - CAC really does care about collectors. Isn't it refreshing that collectors get a better deal than dealers?

 

It's great... except the fact that they aren't even taking applications for memberships, and they make you be a member of the ANA before being able to submit an application for membership, hence me needing someone to piggyback on instead of being able to pick out which of my Mercs I think will sticker and being able to send them in. If they really want to be truly customer friendly for the average collector, they'd open things up even more instead of forcing me to either find a collector with a membership, or a dealer that will check out my coins, pick out which ones he/she thinks will CAC, then sending them in.

How many collectors are members of CAC? I noticed they used the term "Advanced Collector/Submitters" which, to me at least, means people with deep pockets and nice, high-dollar coins, not Joe Schmoe like me.

 

CAC was open to collector memberships for a long time, before halting it. And it had nothing to do with "deep pockets", " high dollar coins" or the like.

 

Wow, didn't realize that dealers have to pay for those that don't sticker. Also didn't know they halted new collector memberships. Glad I got in early. That said, so far I've only sent 3 coins into CAC. One got a green sticker, one got a gold sticker and one got no sticker

 

They halted it before I started collecting and they haven't opened it up since. Enough in my book for me to consider their policies relatively unfriendly.

If they reopened memberships tomorrow, I'd join the ANA pretty much immediately and apply.

 

IMO, their policies are anything but unfriendly. Compared to the TPGs they are significantly more collector-friendly. Perhaps if you had actually used their services, you would be in a better place to judge. Respectfully...Mike

 

why would the sticker make any difference ,to me its just scam for people to make more money off of people that scare easy if you can't trust your grading co. why send it in the first place

 

Here's why a sticker might make a difference:

CAC is a strong buyer of many CAC coins.

They reject a lot of coins which are either low end for the grade, over-graded or messed with. Consequently, those with stickers tend to be nicer coins, on average.

They provide a highly expert, low cost, second opinion.

If I, as an ex grader, can benefit from the opinions of CAC, it is my guess that many other dealers and collectors can, as well. And that is whether they care to admit it or not.

I know of very few CAC customers who aren't happy with CAC. Almost all of the detractors I know of, haven't even used CAC's services. In other words, many detractors don't know what they don't know about their coins.

 

Well, the crack out game has caused an interesting and troublesome issue. Since many hundreds of dollars and sometimes thousands of dollars can be made or lost by a single grading point, most coins that are from mid to high end of the grade they are initially slabbed at are eventually cracked out and re-submitted. Sometimes this is done many times for the one time it makes its way into the higher grade slab.

What that leaves is the majority of coins are either overgraded or at the low end of the grade in their slabs. So in theory, when a CAC puts their green sticker on the coin, it is saying that the coin is solid for the grade and because of the crack out game, these coins are becoming more rare.

This way the buyer has a bit more confidence he is purchasing a good solid coin. So it is not a matter of not trusting the TPG's but a way to deal with inherant issues that go along with certified grading.

Mike

 

There is plenty of evidence out there that the major TGPs sometimes get things wrong. Having a second opinion is common in everything now-a-days. It only makes sense to have a reputable group of second-opinionators for a system that is known to slip up.
I can also see why someone may find their current membership policy to be somewhat precocious. When such a group forms, and then permanently cuts of membership at the point it is gaining mass recognition, it implies said group is also interested in profit for the ring of current members and does not want to water down that honey stream. Of course there's nothing wrong with making a profit on a good service, but people who want to get in there and are denied, they will be bitter. =)

 

I bought some NGC gold that ended up being puttied, and it was not cheap (5 digit). Try finding old gold that is CAC stickered - there's a reason that there isn't much: most isn't original. Take a look at my registry, practically everything in CAC stickered for a good reason...

 

Nice set. I agree that CaC does have its place, but not all CaC green beans are deserved (just my opinion and I am no expert). And a lot of my newer additions are Cac coins. I also did not know they closed down joining by collectors. I have a few coins I would not mind submitting. I will just wait.

 

I agree with you on the fact not all are deserved but a lot are. I am mostly concerned with my coins that are top pop's and the only ones CAC'd. They do bring a premium. When it comes time to sell in 20-30 years, will it make a difference? Who knows what the **** will happen then!!!

 

The only reason I won't use CAC is ,A TPG will grade any date & token or note.
CAC has a set date range they will sticker.
:kewl:

 

First of all you shouldnt be talking about stuff that you have no clue about.. Ok everything that you said about CAC is wrong. I am collector and a memeber at CAC. THey are great and they do an excellent job, And they are totally different from the TPG. They are respectfull and Like MArk said they actually really care about the collectors which is awesome. AnD YEs sure your mad because You have to wait and you cant become a member. Well you know thats just life. I mean if you were seriously interested in CAC then you would have Known that they were ending the membership for a while. THey gave out notice in advance. And to answer some of your other question about CAC. It has nothing to do about money.. I am collector and I dont send in nearly the amount of some dealers or anybody else. I send in a fair amount. ANd Clearly you can see thats its not about money. In fact its the total opposite. Because Obviously if they were all about money and thats all they cared about. Do you really think they would stop accepting members. When that means that they are cutting off potential money that they could be making. ANd I think thats awesome. The reason why they do that is because They dont want to become over populated. Thats the main problem with the TPG. You send in a coin or two and it could take up to a month just to get your coins graded. or the more money your willing to spend they will do a faster turnaround. AND thats not what CAC wants. They wanna make sure that they can give people a proper turnaround. Which is awesome. Which means I as the collector dont have to spend more money just to get my coins back faster. They treat everyone equal. I mean for example I sent in probably 11 coins the one day on A FRIDAY and then they received my coins that following monday. And they give you constant updates on the procees which is also very nice. So monday they recieved and dont you know I got an email sent to me That very Wednesday saying that my order shipped out today and here are your results. Which only took 2 days. Which is incredible. Where else could you get that quick of a service without paying a ton of money. Now that doesnt mean that It will always be done in 2 days. But still I have sent coins in multiple times after that and It has never taken more than a week for them to finish.
One other thing to answere another question you made. You asked why is it that they dont charge the collector for coins that arnt accepted, and why do dealers have to pay, ANd you said you would think that they would be doing it the other way around and letting dealers not have to pay the fee if there coins didint CAC. and the reason for this is because they say that DEALERS should know which coins are more likely to be excepted than collectors. SO basically there saying dealers this is there profession. And they should be able to figure out which coins are LOW END and most likely wont CAC. And they feel they shouldnt be taking advantage of charging the collector money because he might not be aware of which coins should get or which coins are graded properly. Now im not saying that all dealers know better than collectors. because thats not always the case. For example with me in the begining i sent in every coin that i wanted to CAC because why not I didint have to pay for it. But after a while if your pretty good at what your doing and you are an advanced collector, Like I am. Ive been able to somewhat figure out what coins will CAC , and figure out what are the type of coins that CAC seems to Accept. It took me a couple times and you have to somewhat no how to grade. IM not saying im perfect. but Ive done a pretty good job at figuring out which ones will CAC. I have about a 75 to 80 % success rate for the coins that I send in. And I think they do a Great job at what they do and its about time to be able to acknowlege the Better high end coins. Because they do go for premiums, and they should. I mean who wouldnt want to have a coin that is acknowleged to be the higher end of a coin. ANd CAC also gives buying sight unseen a new meaning. Becaue now people can buy over the phone or internet and trust that if it has a cac sticker then it gives you more confidence. And im not saying all coins with a CAC sticker is the best because there are nice coins out there that are high end but dont have a CAC sticker for many reasons. Maybe they havent been sent yet or whatever the reason is. And yes there are some coins that shouldnt have CACd in my oppinion, but thats to be expected. nobody is perfect. and a coin doesnt have to be Beautiful to CAC. There are some coins that are ugly and might have a CAC sticker, but thats because it obviously is a strong coin for the grade. Meaning the strike and definition is good. it might be toned really ugly but there goin off of the grading of the actualy coin itself behind the toning.

 

Let me be clear here...

I'm not ragging on CAC for their policies regarding coins, I'm ragging on their policies regarding submissions. If they truly wanted to be customer friendly, they wouldn't just restrict entry into their program to "ANA members in good standing," they'd let any coin collector submit, without regards to them being overburdened or not... It only takes 20-30 seconds to look at a coin in-hand and decide what the grade should be, so if you average that out, on the high end, in an 8-hour workday, you're looking at 4800 coins per week. Assume 2/3rds come from dealers, and 1/3 from collectors, and that 1/2 of what collectors submit sticker, and you're looking at about $39k worth per week in submissions.

Newer collectors have basically been foresaken by CAC due to their policies. IE; I didn't seriously start to collect my series of choice until appx June of 2011, in PCGS OGH holders... due to the time I got into this particular niche of the market, I cannot submit any of my coins to CAC without using a dealer as a middleman.

 

I don't have a problem with the ANA part at all MercCrazy.
Looking at it like this I am (like Yoda)
ANA members are usually more serious collectors and I think they are using it as a way to support them.