CAC and Individual Submissions

I happened to approach the subject of CAC submissions with a local dealer. Here is what he said: " I have sent in some really very very nice submissions, only to have them returned without the "greenie" .

Any Members have any experience with CAC ? If so, please tell me about it.

Thanks. Tom

 

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Several members have used them and you need to wait for them to appear. My opinion is buy the coin not the holder or the sticker. Even though I still have reservations about CAC I believe for beginners unsure of their grading and opinions - then CAC could possibly assist in selecting good coins for the grade. Not that I am a expert at grading, but I am still reserving my final opinion on CAC. Just my opinion.

 

This recent thread may be of use:

http://www.cointalk.com/t63565/

 

Okay, let me try this another way. Any members who have experience in submitting their coins for CAC Grade authentication, please describe your experience. Good or Bad ?
I buy CAC coins, but have zero experience in submitting coins to them.

 

You should PM Leadfoot - he has.

 

And he wrote a huge detailed thread about it on the NGC forum although I can't find it.

 

You have to request an application from CAC.
If you are "approved" you can send coins in yourself at $10 each plus S/H both ways. (registered mail only)

Oh yeah, must be a member of ANA.

 

I would be somewhat suspicious of that as well Gd. The odd thing though, is that he is a long time, well respected Dealer here in the New York area.

I was curious to find out if other individuals have similar experiences with CAC, to determine if they are simply catering to TPG's business.

 

Well I won't discuss the dealers grading opinions, since I do not know him or the coins submitted. My local dealer is not too keen on any TPG.

But even I do not think CAC simply caters to NGC or PCGS coins - I believe that is all they still accept. I think in some cases CAC could serve as a valuable asset - in cases of the rarer coins I think they just rubber stamp them(small population coins, key dates, etc.). In the case of large population expensive coins I do think they will help you pick the best ones - I am thinking of Saints. In those cases I think they will assist the novice buyer in picking the better strikes. I still think everyone needs to learn to grade. Again my opinion only.

 

Hi Mark-H:

CAC will accept submission's from individuals providing they are an ANA Member . The Dealer of whom I spoke of is an NGC registered Dealer. I'm just trying to get a feel for how CAC handles "individual" submissions vs those by an authorized Dealer. If in fact there is any bias.

 

My personal opinion without proof - is that they treat the coins the same. If they rubber stamped all coins from a dealer they would damage there reputation very quickly because the knowledgable collectors and dealers would see it. I really recommend as mentioned you contact leadfoot, he found it to a learning experience. I personally do not plan on using them currently. Now if I had some of the coins the penny lady had I might use them, but then again - how could anyone fail to see the eye appeal and wonderful strike qualities of the coins she has. Maybe not all of them would get green or gold stickers, but they are beautiful coins.

 

Well , if you see leadfoot ask him to send me the title of his post, so I can look it up. Thanks.

 

I just send him a PM to pop into this post. No promise he will get it.

 

thanks

 

Hey guys. Sorry it took me a while to get to this one....

I can't comment on the dealer's submission, because I didn't see it. However, I do have a bit of trouble believing CAC "plays favorites".

That said, here are the results of my CAC submission:



My impression of CAC grading is that they are a bit more stringent when it comes to "problems" and tends to not give stickers on those coins in which a coin had a problem that the CAC didn't think was worthy of a grade. Whether that be hairlines on a 64, or spots on a 66 or 67, or (gasp) putty on a 63, or artifical/questionable toning -- all reasons I was given for a lack of sticker.

A few observations from my submission: My NGC coins did worse than PCGS coins. I did the best in my area of specialization (copper). Some of the coins that didn't get the sticker aren't necessarily bad coins, but just not good for the grade (i.e. a good coin in a bad holder). The total cost including shipping was a little more than $12/coin.

Overall (and in retrospect), I agreed with the CAC on the vast majority of their assessments. I learned a lot through the process as getting back "reasons" for the missed stickers was a very educational (and eye opening) experience. I would recommend CAC in a minute to someone looking for a good way of learning more about the finer points of grading.

Hope this helps...Mike

p.s. I've been planning on doing another CAC submissions, but just haven't gotten to it.

 

excellent information mike. Thank you. I currently have Two coins which I will be submitting to CAC. As I stated in earlier threads, I have purchased a few CAC certified coins, from two notable Estate Auction's. I am very pleased and think they are absolutely worth the premium for service.

 

Good luck and please let us know the results.

 

thanks mark, will do.

 

I only have three CAC coins at this time , but have seen many , I think they do a good job for buying coins with only a picture to go by , I have only one CAC coin where I didn't like the coin , but that was an original skinned coin whose toing was a little dark in areas for me so that makes it more a personal feeling for not liking the coin . I plan on sendinging three or four more in on coins that I think were under graded or were high for the grade . So far I think CAC does an above average job .
rzage