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Message:: [QUOTE="Lehigh96, post: 822461, member: 15309"]There seems to always be a heated discussion whenever this topic is brought up. I should point out that as a general rule I don't believe that having a coin graded by a TPG is worthwhile unless the coin is value at $200 or more. Likewise, I don't believe that having a coin reviewed by the CAC is worthwhile unless the coin is valued at $500 or more. Having said that, I would like to address some of the more common complaints that I often hear about the CAC. <ol> <li>Buy the coin not the holder/sticker The problem is that very few collectors have the requisite knowledge and skill needed to accurately grade mint state coins much less the grades within a grade. I find the hubris of most collectors astonishing. The large majority of collectors preach “buy the coin not the holder” but can’t practice what they preach. For those that can, they usually are limited to the series in which they specialize. For example, I may be able to grade Jefferson Nickels with the same proficiency as the graders at the TPG’s, but there is no way I can accurately grade Washington quarters as well as professional graders. It is the grades within a grade that allow dealers to make money. Being able to separate the A-B-C coins and buy and sell at the appropriate price can be the difference between profit and loss.</li> <li>The sticker artificially inflates the price of the coin. In fact, the sticker is extremely valuable in the fight against gradeflation. It is especially important when it comes to conditional rarities. For example, the 1921 Peace Dollar is sought after in gem state by both series collectors and type collectors. As a result, the price jumps from $630 in MS64 to $1,585 in MS65 for Numismedia Wholesale values. The 1921 Peace Dollar has proved to be a goldmine for crack-out artists over the years. Search for PQ MS64, crack it out, resubmit, and hope for the upgrade! Even if it takes several resubmissions, the payoff is worth it given the price differences between grades. Now this is all well and good unless you own a legitimate (good for the grade) MS65 1921 Peace Dollar. Every time one of the crack-out coins gets upgraded, gradeflation occurs, and the value of the MS65 is eroded. The problem is that the distribution of the A-B-C coins becomes skewed and you encounter a scenario where there is a huge price difference within the one grade. One only needs to take a cursory glance at the Heritage auction archives to see that MS65 1921 Peace Dollars sell for anywhere between $1,100 to well over $2,000. You guys can say what you want, but I simply would not buy an MS65 1921 Peace Dollar without a CAC sticker. Put another way, I certainly would pay more for an MS65 1921 Peace Dollar that had a CAC sticker.</li> <li>And then we will need a sticker for the sticker, where does it end? With respect, this complaint is ludicrous. TPG grades are only as good as the consumer confidence that accompanies them. While the grades assigned by PCGS & NGC are widely accepted, there exists a void when it comes to quality within a specific mint state grade. The TPG’s have known this and ignored to for years. That void was filled by John Albanese, the founder of the CAC. The success of the CAC is depends upon consumer confidence just like the TPG’s with one inclusion. Because the grades assigned by the TPG’s are accepted as professional opinions, only someone with a higher level of grading expertise would be able to offer an opinion that is accepted by the general public. John Albanese is widely accepted in the numismatic community as one of the best graders in the world. In order to have a sticker for the sticker, you would need to find someone who is widely recognized as a better grader than JA. I don’t see that happening anytime soon.</li> <li>TPG’s/CAC have ruined the ability of collectors to grade coins. My problem with this is that I don’t believe that most collectors ever had this ability. I believe we always had lazy collectors. In the old days, these collectors got fleeced by unscrupulous dealers who peddled over graded and problem coins. Now, these lazy collectors are protected as long as they buy only PCGS & NGC graded coins. Futhermore, I think I have already established that most collectors who do learn how to grade can’t do it nearly as well as the professional graders. These collectors would also be wise to yield to the opinion of the professional graders until their knowledge & experience reach a level that puts them on the same playing field. We must recognize that most collectors will never reach that level of expertise.</li> <li>The CAC still hasn’t created a sight unseen market: In the past I have posted at least two personal experiences where the CAC has enabled me to purchase a coin sight unseen using photos that appeared to have problems. IMO, CAC stickered coins combined with good photos equates to a sight unseen market for which I have full confidence. Here is one of the coins i was able to purchase because of the CAC sticker. If you would like to read more about the story, please click on the following link. Here is a photo of the coin: 1942-P Jefferson Nickel NGC PF66 CAMEO CAC.</li> </ol><a href="http://boards.collectors-society.com...ue#Post2486594" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://boards.collectors-society.com...ue#Post2486594" rel="nofollow">http://boards.collectors-society.com...ue#Post2486594</a>  Lastly, I think that anyone who is serious about learning about this topic should read the following thread (Warning:Long). <a href="http://www.cointalk.com/t63565/" class="internalLink ProxyLink" data-proxy-href="http://www.cointalk.com/t63565/">http://www.cointalk.com/t63565/</a>[/QUOTE]

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