Question — anybody know how backed up CAC is these days?

I put out a submission a while ago and I haven’t heard back yet. Does anyone else have any experience lately or willing to share how far out their orders are?

 

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Are you a Direct Submitter member of CAC, or did you submit via an authorized Dealer, or via another Direct Submitter member?

I ask, because I am not certain I understand "I put out a submission..." means.

Regardless of the question(s) I asked, I assume the piece you "submitted" is a previously graded NGC or PCGS encapsulated coin still in the original Holder. Is this correct?

 

Did you check your order in the portal?

 

im not a direct submitter. I’ll need to check on this thanks

 

Economy tier submittals have been suspended since Oct. 2022. The only exception is a 20 coin limit per loyal collector members annually at the normal tier rate, and after the 20 coin limit, new rates apply, since there will not be a normal tier rate, going forward, at the previous pricing structure, and will not be determined before the soft opening of the CACG (CAC Grading) entity, presently a late July target.
Any new prospective member on the waiting list as of Oct. 2022 will also qualify for the above 20 coin limit.

New member applications have been suspended since Nov. 2022 and that policy remained in place until last week, when CAC invited applications to be submitted directly for (re) consideration.

Thus, it appears since you are not a direct submittal member, you must have submitted via a Dealer or you piggybacked via a grandfathered collector member.. Depending on whether the Dealer and/or the grandfathered member had reached the 20 coin normal tier limit, you would have been charged a higher rate. Since you did not answer my previous question of confirming if the piece you "submitted" was either an encapsulated PCGS or NGC coin, I will assume you may have "submitted " a raw coin for grading. This new grading service is not available at this time and most likely will be after August or thereafter, since the planned soft opening will be limited to 20 coins from 100 member investors, before official launch, to test the new planned Grading Entity.

Assuming your coin was submitted via a Dealer and/or grandfathered collector member, the turn around times are running anywhere from 21-36 days. JA is adamant that all services that slow down the existing CAC evaluation process for existing intact encapsulated NGC or PCGS coins are subject to temporary suspension. CAC is not going to allow any further backups to customers, which caused the normal tier evaluation to back up to unacceptable wait times to JA, which he has described as 21 days at most, for existing clients.

Checking the Portal may not be of assistance, if any of the processes I described to you have not been met.
I will state it is on my mind that you possibly have been flimflammed by trusting another person/entity to submit a coin for CAC evaluation on your behalf. My comments are also publicly accessed via CAC.com, and the comments I have related to you have also been emailed to members and have been openly shared with non-members.

Without any more info from you about who/what/when/where, nobody can help you. You can also directly contact JA, if it is possible you have been hoodwinked. I am sure CAC would want to know such a situation.

In the spirit of helping without any payback expected or solicited:

This has been a Charley Talk.

YW.

Truth in editing:
I) Deleted the "n" in "many", changing the word to "may".
2) Added an "s" to "day".

 

I submitted for stickering through a dealer. I’m being told that the order is delayed due to the opening of the new slabs. I’m just wondering at what point do I start looking for insurance reimbursements

 

I would consider looking., but I don't understand what insurance you are referring to. That is not clear at all. Are you referring to a lost package insurance, from you to the Dealer or from the Dealer to CAC, or....?

What tier is the Dealer charging you for?

I would also consider requesting the submittal ID from the Dealer sent to CAC by the Dealer. I would then consider, based on what you are told by the Dealer submitting on your behalf, asking JA.

CAC is an entirely separate entity from CACG. The Dealer that submitted on your behalf is not submitting to CACG, because CACG is not accepting coins for grading yet.

I am also still confused...is the piece you submitted already graded by PCGS and/or NGC, or is it a raw coin? You have not clarified this yet, and are you certain the Dealer has direct submittal privileges to CAC? In the alternative, is the Dealer one of the 100 CAC members that can submit 20 coins each during the test grading soft opening phase?

Do you understand the process and/or to which entity your coin has been or will be submitted to?

There is something very wrong with the situation at this time. I am not sure why you are not answering questions asked for the purpose of assisting you, but I am sure you have your reasons.

 

Seems to me that the coins were sent in for a sticker, and not the CAC slab.
I would also file and wonder where my coins are. Knowing you are a CAC fan boy..
Should those ungraded submission to CAC qualify for a rare 1st series Slab?

 

This is the email I received this week

Dear CAC member:

We are proud to announce that we are making great strides towards making CACG a reality. We have planned a soft launch for our shareholders who may submit a limited number of coins for CACG consideration in Virginia Beach as early as June 1st.

This initial run-through will help us hammer out unforeseen bugs in our operations so that we may accept a second round of submissions for consideration, this time for all current CAC members. We believe the second round may happen as soon as July 15th and we will follow up with additional information regarding submission procedures.

We will continue to sticker coins at our office in NJ but the regular tier will remain suspended. We plan on opening the regular tier once we determine our CACG price point and adjust our stickering fees.

Once we begin encapsulating coins in VA, we will open up the grandfathered tier for CAC stickering to all current CAC collector members. These members will be entitled annually to 20 economy coins with 100% rebates for coins that do not pass. Please wait for instructions on how to submit coins on this special tier before sending them in to avoid confusion.

We appreciate your support and patience as we move through this transition.

Thank you,
CAC Team

 

Wow

 

If you submitted these through a dealer they should have been back pretty quick. The regular tier is suspended. Idk what would happen if you try sending that in. You can submit under the higher tier at the cost of 35.00 per coin. I would be asking that dealer where my coins are. Because turnaround time if you submit under the higher tier is under 10 days. I just messaged my guy in California because he's been submitting regular tier under the higher tier. He told me it's taken a week to ten days to get them back. I've been piling mine up waiting for my 20. I'm not paying 35 ever. That's more than it cost to have them graded. And they're supposed to adjust pricing as it says. And even collectors may be charged for the ones that don't sticker under the new price points. The way it is now only dealers are charged.

 

Send them a message via their website

 

i submitted the slab for stickering which meant there was a slab already placed, not a newly generated, CAC slab to be made

I paid the $35 rate.

 

Wow they launching CACG much later than I thought.

 

They're also clear it's a soft launch, with everything including pricing subject to change.

 

Yes - hope see them on GC soon if not then.

 

Btw has eBay even approved them as a TPG yet? This is critical otherwise pass on them.

 

Nope ... don't even know if they've asked. Until they have an accessible validation site...

 

What makes you say that it's "critical" in the very beginning? Ebay's guidelines state that an approved TPG must have graded at least 50k coins, but I'm not sure if CACG has found a way to circumvent that. They meet all of the other criteria, and ironically JA has graded over 1,000,000 coins personally.

 

Well they got their task to get to 50k to accomplish don’t they?