Is a Gold CAC Stacker Really Worth that Much?

Before you commented, did you see the revelation to this thread? Its the DDR variety, and a 61cac comp'ed at 43k, so its actually a decent price and in no way "ego support". If that coin was attributed as a DDR, in an OGH, with a gold CAC sticker, it probably would have went well north of 50k. Personally i'm not a fan of the reverse line but its definitely better than a 60.

 

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The reverse line is a deal killer for me. Having been on both sides of the table, marks like that are a prime excuse for dealers to pass on buying the coin or knock down your asking price by a considerable amount.

When a dealer is selling, the line, "Oh that black line doesn't mean anything. This coin is rare!" When a dealer is buying, it's "You know that's a big problem, and I really don't care about the CAC sticker."

You have to realize the doubled die on this piece attracts a limited number of collectors. Add to that, the price is well into five figures, and you have scared off or eliminated the "riff-raff" from the neighborhood. You are talking about well healed collectors who can be fussy as heck.

This piece would be a strong pass for me. If the variety is not listed in the "Red Book," I would never pay a five figure sum for it, not even as a dealer unless I had a want list for it. Even then, I would take five minutes to tell my customer why he or she should not buy it.

For $30 grand plus, I could have upgraded my 1806 half eagle to something that is really pretty. I would prefer to own that far more than an esoteric die variety of a not so attractive 1901 Morgan Dollar.

 

Much more attractive coins can be found for the same price,if anything it should have one of these instead,then maybe it would be worth it.

 

This is a perfect example of why I avoid bidding on auctions for gold stickered coins. The ugly black streak draws my eyes a lot more than the CAC sticker. The MS60 grade also is a turn off. It’s like CAC is saying “this coin is not butt ugly, but just sort of ugly, so it should have been a 61”.

Personally I see no point in paying above the price of the next grade up for a gold sticker. Anything beyond that is paying for a sticker and not the coin.

 

Some people collect gold CAC slabs and pay a big premium for them, even if they are in NGC holders. The PCGS-CAC combination is the gold standard for CAC fans.

 

For $30 grand plus, I could get a really nice XRF gun, and have enough money left over to speculate on lots of questionable coins and then check their composition.

 

You and I agree fully on the case of this coin, definitely not for me. Though Im certainly not buying that coin, I was just noting that there is indeed a strong market for it and if it were designated on the holder, I think it would have went higher.

 

It really depends on the coin. I've seen some Gold Stickered coins that I would happily pay two grades up or maybe even 3 if theres not a significant spread, but in many cases the coin has tremendous eye appeal to go along with it. That doesn't seem to be the case with this example.

Tom Bush had a thread on CU about a month ago where someone bought two gold stickered MS66 Washington quarters in old green holders. BOTH of them upgraded to the sole top pop for their issue at MS68, and the consignor made a VERY healthy profit.

 

I think it’s a combination of multiple things.
The older holder is always desirable.
01 in MS is apparently a tough coin.
Morgans are arguably the most collected coins…in the world…maybe.
Add a gold CAC sticker to the mix and you have an explosive recipe.

I was seeking PQ Franklin halves in PCGS rattlers for a few years but have since abandoned my search due to the high prices. Average prices have at least doubled compared to what I was seeing just a couple years ago.
As an example there was a very nice 1954 in MS65 on GC about a year ago that I was going after. It had a green CAC so it went for more than it normally would have. I put in a few last minute bids but didn’t win. Final price was over $450…for a $40-60 coin.
Another example that includes a gold sticker.
I sent a few of my Franklin rattlers to CAC, one of them being a 54-S in 64. It was given a gold sticker. The dealer I submitted it through bought it from me for $400 and he still had plenty of room to make money. I wouldn’t value a normal 54-S in 64 at more than $30 personally.

Bottom line is yes, gold CAC stickers make some collectors do seemingly crazy things.

 

Probably rich people, doing rich people things? Another thing that might be a bigger mystery? At least to me. Is how that coin got a Gold CAC sticker? Although by the pic and slab generation. It looks like a (possible) 61-62 coin in today’s market? But that’s just my opinion? But that black scuff line on the Reverse? Now that baffles me..

 

Just reposting the explanation provided by okbustchaser above which solves the mystery. Noticed some folks are posting but unaware of eagle eye okbustchaser's explanatory post. As he pointed out, it seems that at least 2 bidders recognized that the coin appeared to be a DDR major variety of the 1901 Morgan that is rare. Neither the PCGS label nor the Heritage Auction lot description mentioned that it might be the DDR variety. More info on the DDR variety: https://www.pcgs.com/coinfacts/coin/1901-1-doubled-die-reverse/7302

 

Outside of bragging trophy coins -

The gold stickered coins can be a profit bonanza if you work that angle. Pickup the gold sticker coin in auction then send it in for grading. If it upgrades 1 or 2 grades we have touchdown Houston. Some coins 2 grades up could be thousands of dollars market value increase. There is no doubt savvy players working this angle. I know of one instance where the guy cleared about $10k executing that.

 

It's not as easy as it sounds. I have one gold CAC stickered coin. I bought it when CAC first came out. It's a PCGS EF-40. Once I got the gold stars out of my eyes, I figured out that PGCS got it right. It won't upgrade. The coin has been brushed very lightly. I way overpaid, but I do like the historical aspects of the coin.