I don't believe those approval numbers and there is no way to prove it. Send them a nice coin solid for the grade and it gets stickered. OR........... let me pose it this way...... How many of you who have submitted coins to CAC have only had a 50% success rate? I concur. It is a marketing tool for the fool. Do it if you need to resell. You now know me too. Ah yeppers!!! This is the best point. Does any one have or ever sent a plus grade in for stickering? I only look at Lincolns, it blows me away what people will bid CAC'd wheaties up to. I purposely have been building a huge VDB study set randomly buying from different venues......- On the average, you can buy 2 coins for the same cost as one CAC'd.... and one of those 2, will be nicer than the beaner. ... Not sure if that makes sense.
If you send them a nice coin solid for the grade, it is supposed to get a sticker, that is the whole point. And I have no idea why you would doubt those numbers, they sound right to me. As to your question, the CAC does not grade Jefferson Nickels. But if they did, I could very easily explain why my success rate would be higher than 50%. In general, people are only going to send what they consider A or B coins for CAC approval. The coins that even the casual collectors recognize as dogs never get to the CAC for review. If I sent my entire Jefferson collection to the CAC, I guarantee that there is a large group of C coins that would not sticker. But I would not do that, I would only send in the coins that I thought would have a good chance at getting a sticker. If you really want your answer, send your entire Lincoln collection to the CAC and see how you do.
I don't know. I just can't picture knowledgeable people sending in coins they think solid for the grade and CAC only has a 50% approval ratio? I wouldn't send any coins to them for stickering unless I was trying to sell them, while I wouldn't send them the dogs, I would expect that I can pick the coins solid for the grade and that my approval would above 50% and if it wasn't - I doubt I - like many others would send them coins again.
Paul , I thought they only will sticker a coin that is in the middle average or above for the grade . Like they can agree the coin is a MS-65 , but if it's a borderline low end 65 they won't sticker it . Rusty
That is correct Rusty, but that isn't what I was talking about in my comment that you quoted. This is what I was talking about - post #31 " There is one thing that does bother me about some of the coins that CAC does sticker. You know how the TPG will bump coins up a grade because of pedigree, rarity, value or color ? Well it seems that CAC goes right along with them a lot of the time. I strongly disagree with that. If a coin is a 64 then it should be graded a 64 and not a 65 because of who previously owned it."
I know from my dealings with Heritage and B&M that they send the bulk of their consigned coins to CAC on the off chance they'll sticker and my gut tells me few, if any, are examined closely before they're sent. I'm thinking this may be the cause of such a dismal sticker %
Heck, its only $10 per coin IF THEY STICKER. If they don't sticker....NO CHARGE. I have 51 coins, 24 are CAC. Of those 24 only 3 were bought with the bean. I will be sending in some more this fall. I'm hitting 67% on my submissions so far. This is the last year for $10 submissions.
FYI, Legend had a long history of selling coins for a premium prior to the introduction of the CAC. That kind of takes the legs out from under your argument, at least as far as Legend is concerned.
