The CAC Dreck Thread

There seem to be a lot of members of this forum who believe that the CAC has essentially no value and its only purpose is to artificially inflate the values of coins. Furthermore, some members make the claim that the CAC routinely certifies coins that are not good for the assigned grade. We will refer to these coins as CAC Dreck. Since they are so common, I though I would create a thread in which Cointalk members can post their examples of CAC Dreck

Here are the rules. If you are posting a coin, you must divulge how many CAC coins you have actually owned in your life, how many you have personally submitted to CAC, and if you own the coin being posted or are just borrowing from another website as an example. In the event that you don't have a CAC Dreck, I would still like to encourage your participation. All you have to do is provide the information requested above and then apologize for posting a CAC coin that is actually good for the assigned grade.

Okay, I will start. Personally, I have never submitted a coin to the CAC and have only owned less than a dozen CAC coins in my lifetime. I have never once seen a CAC Dreck in hand and I apologize for not having any CAC Dreck, but here is a 1942-P Jefferson War Nickel NGC PF66 CAMEO CAC that I purchased from Heritage in April 2008 shorty after the inception of the CAC. I was hesitant to bid on this coin at first because the auction photo did not clearly show the cameo contrast and the CAC was very new in the marketplace. I did not know whether or not the CAC approval applied to the CAMEO designation as well as the numerical grade. See the problem is that this coin in CAMEO has a population of 5/4 and a price tag of approximately $2,500. Without the CAMEO designation it has a huge population and is only worth $150. After a few e-mails to CAC, I confirmed that the CAC approval did in fact include the CAMEO designations and strike designations but not the star designation. This information gave me the confidence to make a strong bid on a coin sight unseen that I really wanted for my collection. Without the CAC approval, my only option would have been to pay a dealer to preview the coin for me at the auction and depend upon their assessment of the coin. A nice anecdote about how the CAC helps bolster the sight unseen market.



Okay, it's your turn. Show me your CAC DRECK!

 

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I think this'll be a pretty quiet thread... Lots of big mouths when it comes to bashing... But when it comes time to put up... A strange silence seems to overcome them.

 

I have never own a cac coin, and never submitted one. I was out bid for this beauty on Teletrade a few months ago. It went for more than I thought it would. Maybe because of its superior eye appeal or rarity. I thought it was unique.

 

I have no CAC dreck and have never owned CAC dreck. My history with CAC is that I have submitted something like 90-100 coins of my own to CAC as well as quite a few coins from my inventory to CAC. Of my coins to sent to CAC, let's call it 100-coins for convenience, I have had the following-

Rejected; 3 (three)
Green Sticker; 87 (eighty-seven)
Gold Sticker; 10 (ten)

These results in aggregate are very well in agreement with what I had predicted for these coins before submitting them to CAC, though on a coin-by-coin basis they differ somewhat. I have seen in-hand a few coins with green CAC stickers that I thought I would not have stickered because they didn't meet my criteria, which is apparently very close to the criteria used by CAC. I have also seen one gold stickered coin that I thought should have been rejected outright. However, over the thousands of coins I have seen with CAC stickers, I have agreed with the vast majority.

Here is a nice coin that agrees with CAC-

 

I have never bought a CAC coin, but I just recently sent a bath in, in which all 4 AU58s stickered. I have another batch going out soon. These were purchased for strong money even without the sticker. I don't think that I've ever seen an unwarranted stickered coin.

Here is a 2c coin that was stickered in the last batch:

 

Nobody has a "CAC dreck" coin because who would purposefully buy one to begin with? Would you, Paul? I doubt it. Neither would I. I'm sure there are probably some out there, but they're sitting in dealer junk boxes where they belong because nobody wants them, because dreck is dreck, stickered or not.
Guy

 

Well, that argument just doesn't hold water. The CAC haters big claim is people are just stupidly buying ANY coin with a sticker on it. Their theory is it is just marketing. If that were the case, the dreck would be sucked up just as quickly as the good coins.

That comment just smacks of grasping at straws.

This thread has really proven to be the knockout blow for Anti CAC crowd.

Game, Set and Match goes to Lehigh

 

Nice try, but I purchase all of my coins sight unseen. If CAC Dreck coins exist, chances are that I will end up with one sooner or later given my buying method. And I have a strong feeling that I am not the only person who purchases coins sight unseen from internet photos. And that brings me to one of the points of this little exercise. My guess is that the only CAC Dreck coins that will show up in this thread are going to be examples that people don't actually own, but saw an internet photo and disagreed with the grade.

Furthermore, if slabbed coin collectors are really as lazy as some members of this forum suggest, then it stands to reason that one of the so called "plastic collectors" will show us a CAC Dreck coin even if they present it as one that is good for the grade.

 

Paul, I'll say this for you--CAC, dreck, putz coins, you name it, notwithstanding--I've been looking at your collection since you joined, and, boy, if anybody's got taste, you've got it. Not in the market, anymore, really, and we do have our philosophical differences on some of these key controversial issues, but when it comes to your coins, not there. You're doing something right, buster.

PS: Now please, I told you, don't try to sell me anything!

 

Here

Comment on something quite a bit less malignant.

http://www.cointalk.com/t209554/

Amanda

 

CAC whiners? Inflation of prices due to the inception of CAC? I'm a proponent of acquiring under priced examples of entombed green bean examples. I've been rather successful in not paying the premium.

 

Not my argument. And BTW - I have already posted such coins and you can go find them in the archives. And FWIW, the original posting in the other thread was just another news article by me, among many of the others.

This thread proves nothing other than fanning flames.

 

Are you saying I haven't already posted such examples, as I have the TPGers as well?


As a moderator maybe you can edit the thread title from the Dreck CAC thread to just the DRECK THREAD

 

For future reference

http://www.cointalk.com/t210445/

 

I have submitted a total of 8 coins to CAC. 4 I was sure would get the bean, the others, I just figured why not. 3 came back with the bean, two of which are posted below. Both sold within 1 day of listing on ebay.






Now I would guess the stickers helped, but you have to admit that Morgan is pretty darn nice.

 

i'm a basher, and openly so. then again, i bash tpgs as i feel they inflate the value. yes, i do respect the guarantee of authenticity. but as for a grade, and entombing in plastic... HA! not worth the extra cost. especially a green bean. for the record, i have zero slabbed coins in my collection, and have purchased zero! i prefer to educate myself and purchase raw.

 

Here is another CAC coin that I recently owned, for a short time



These are just a few of the small handful of CAC coin that I have owned recently. And in all fairness I have had one that I bought sight unseen, and was a bit disappointed with, but it was more of the dark toning that made the coin unattractive. So here is my CAC dreck. Even if it was solid for the grade, it was a bit on the ugly side.

 

I have never been a fan of lowball registry sets but I have to say that coin is as cool as the other side of the pillow. It never occurred to me that someone would seek to gain CAC approval for a lowball coin.

 

Wow. Even when I try to agree with you, Paul, you find another way to make it a disagreement. Perhaps that is the real problem, not CAC after all.
Guy

 

When the heats on..................change the subject...:hail: