CAC article- Nov.08 Coinage

According to this article, the intent of the CAC stickers is actually good for the hobbyist. It seems reasonable to me. Here's where the guy is coming from. A short piece from the article:

"The concept for the kind of service rendered by CAC grew out of Albanese's (the founder) concern that low-end coins were dominating the marketplace. For grading purposes, Albanese, like a number of other market makers, divides coins into three groups- A, B, and C- with "B" coins being average for their grade, "C" coins below average (or low-end) and "A" coins above average. "For way too long," he said, "C" coins have been dragging the market down. Nicer coins have traded for a premium over C coins, but it hasn't been nearly enough. The tail has been wagging the dog: Price guide values have been based on the lowest one-third, or even the lowest 10 percent, of the coins in a given population.

"To me, that doesn't seem fair- and it's also misleading to consumers. When they buy a coin from a dealer based on the price-list value, they almost always get a C coin. But when they try to sell an A coin to a dealer, they're almost always offered a C-coin price."

edited - sorry Vess, but forum rules prohibit this.

 

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This is called CANNED NEWS and has no value....to discerning mind.

Ruben

 

Edited!? What forum rule was broken? I looked for the rules but was unable to find them. Can someone point me in the right direction or post a link?

How is it canned news Ruben? The magazine didn't offer support to it one way or another. The article mainly let the founder express why he was doing it. The vast majority of the article being direct quotes. They're reporting the news.

This has been a hot topic lately and I thought it would be good to post why he's doing this, beyond the profitability standpoint, and maybe show someone that this could be a good thing. Also to show the vast expectations the company has for the hobby, with this program.

But I guess if somebody wants to talk about it, they'll have to buy the magazine.

 

Here are the rules:
http://www.cointalk.org/showthread.php?t=34131

#5 is the rule that was broken in this thread.

Speedy

 

Vess1 -

Don't tke it personel. The two things were unrelated. I'm sure the edit was do to copyright.

FWIW: The is a practice that companies use Public Relations to send information, video's or whole works of news to publications and emedia outlets in the hopes that they are used in whole or simply paraphrased for articles and segments. CAC has been on a PR offensive. They are showing up with virtually the same writeup everywhere. No important questions are being asked. No criticisms is being given. It is canned news.

Ruben

 

http://www.stacks.com/store_itemdet...=AN00000026&pg=1&result=3&esid=21637&seq=8730


A CAC not worth the nickel being asked for...

 

Eh -

He is correct, although as I said they are covered by the take down notice clause of the DMCA.

You can't post the entire article outright. You can post specific sections in the course of discussion and criticism. I this case though, its canned news so if you email CAC directly they'll send you a copy of their PR release..


Ruben

 

Well, FWIW, I didn't copy and paste anything and it was roughly 1/4 of the article.
I don't have any problem with the rule. I will be more careful in the future.

 

Vess - you may be interested in this link since this topic has been hashed recently:

http://www.cointalk.org/showthread.php?t=43818&highlight="cac+stickers"

I think the hobbyist will pay more and the dealer will make more. I'm not a fan.

 

But you can say no if you think the price is high , your the one with the power . I think a lot of dealers charge what they can already with or without CAC .
rzage:thumb:

 

Prove that. You've said that before and clearly not the intention of CAC nor is it the results I see on the market. Folks are CLEARLY getting CAC stickers to get better prices on coins. So show me any evidence that justifies that CAC stickers do not add a premium on the cost of a coin...

Ruben

 

I'd like to see some evidence that the sticker does.

 

I already showed you the direct evidence that it is CAC's intent. That is enough to make a scam PERIOD. No other evidence needed.

http://www.coinvaluesonline.com/content.asp?content=story&news_id=700
http://www.coinlink.com/News/us-coins/to-cac-or-not-to-cac/

 

The pharmacy reps are going to LOVE you when you become licensed.

Ruben

 

To tell you the truth I don't think there are that many CACed coins to make a comparison , even at shows I see CAC coins are roughly 1% of slabbed coins , and slabbed coins are still in the minority until you get to better grade or scarcer coins .
rzage

 

No, that isn't evidence. You wanted someone to post evidence that shows the CAC sticker not driving up the premiums...I want to see evidence that it does. Prove it to me. I would love to see auction results that demonstrate this trend. If it is so CLEAR, this shouldn't be hard.

What does this comment have to do with anything.

 

Your wrong...again. How many times can you be wrong in a few weeks? Admission of attempting to scam the market and verification of it in the coin press is all the evidence that is needed.

That makes it a scam.

And as I said, the Pharmacy reps are going to love you because you are SO easy to manipulate with data that proves suspect end points. Once your sold on something your critical facilities all but shut down.

Ruben

 

Ruben, you can't sit there and demand evidence that goes against your views unless you can back yours up with the same kind of evidence. Do you or do you not have evidence that shows an increase in premiums? That is a pretty simple question. Please stop attacking my personal character by saying I'm easily manipulated as a cover for your lack of evidence. Thank you.

Also, I'm not sold on CAC. I can take them or leave them. Their view means very little to me as does the view of the slabbing TPGs

 

Two things:

A) The need to show that their scam succeeds in jacking up prices is not needed to prove its a scam. It is a scam. If they had to function under SEC rules for the coin market they'd have a lot to answer for.

B) As you have pointed out, they haven't been around long, and they've had a HUGE HUGE push over the last month to establish they're FUD. Give it about 6 more months and then review standard Morgan prices. Clearly any idiot hanging around the sales tables at high end coin dealers at shows that buyers and collectors get their coins stickered when they think it will increase the sale price of their coins.....

Imagine that.

I've even overhead one guy saying he's sending a bunch of coins to CAC to see which he should crack out of slabs for upgraded slabbing.

Lets not all pretend to function in a vacuum.


Ruben