cac stickers can help a coin when selling

https://www.cointalk.com/threads/dealers-and-stolen-coins.130567/

 

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https://www.coincollector.org/stolen-coins-listed-online/

 

https://www.pcgs.com/news/recovering-stolen-coins-never-give-up-searching

 

https://gawker.com/rare-coins-worth-millions-of-dollars-were-probably-stol-1536503156

 

https://sacramento.cbslocal.com/2020/10/06/coin-collection-decades-memories-stolen-sacramento/

 

https://www.orlandosentinel.com/news/os-xpm-2006-01-20-cointheft20-story.html

 

What is the POINT of having numbers on the slabs if you arte not going to track the coins.

 

You posted a 10-year old CT thread...an article on the Saddle Ridge Coins implying they might be stolen property and then with an update from the Fed saying they aren't and the coins and the $$$ can stay with the family who found them...and then a couple of articles on thefts.

I don't doubt that thefts of coins happen, we know it does. But you were implying that the TPGs are knowingly grading and certifying STOLEN coins which seems somewhere betwen unlikely and preposterous. And most dealers and LCS will not deal KNOWINGLY in stolen merchandise.

That's not to say that coin thefts don't happen or that sometimes things can get messy and sticky with a dealer or the police -- I am sure they happen.

But quite frankly I think stolen coins is not at the top of the priority list for most of us. It's a terrible problem IF it does happen, for sure. But the THEFT is the problem, not LCSs or dealers or TPGs going along with the crime.

BTW, there was a thread here on protecting one's collection (safes, insurance, SDBs, etc.).

 

Where are you getting that if a coin is certified and has identifying numbers that someone might be aware the coins are stolen and is not taking corrective action ?

 

You know, I was at the Lakeland coin show yesterday and was looking at some really nice $3K to $5K coins from several dealers that had 1.5 to 3 times premiums on them. None of them were CAC'ed. I don't understand why a dealer asking a really high premium (presumably for a super nice coin, they looked that way to me anyway) would not avail himself of the potential extra marketing power of a modest investment in the CAC bean. Is it just bull-headedness or is there some reason to believe that for these kinds of coins the bean doesn't offer anything? And if so, do they really have such confidence in their customer base's discernment?

 

NGC and PCGS alone have certified around 100 million coins. The logistics and administrative burden of “tracking” them beyond what they already do is not realistic.

What more would they do to track them? Place GPS trackers in the slabs? That would be cost prohibitive and I don’t know many collectors who would want that information in a universal database that could be hacked. At the end of the day the coins can be cracked, so there’s only so far they could take this in terms of responsibility for what happens to the product after it leaves their hands.

 

Maybe they got turned down ? Maybe they can eventually pawn them off on someone who doesn't follow the industry that closely ?

What coins were you talking about at the Lakeland show ?

 

Wow, is it that many between the two ?

 

They were likely submitted and didn’t sticker and were priced like they did anyways. There's no reason not to submit coins of the value unless you know it would never sticker. That said some dealers don't submit because it gets in their way of calling their inventory super high end blah blah because they said so like you saw.

 

It happens some times usually by someone who unknowingly bought it

Yes and rapidly rising

 

There's absolutely no chance they are knowingly turning a blind eye

 

The skew to moderns vs. classic/older coins has skewed tremendously though the last 30 years.

 

Moderns have been rapidly growing in popularity for several years

 

^^^Yes they have

 

That is not difficult at all. They already keep records for every transaction, and they report it to accountants and submit the data to the IRS for tax purposes. Compared to what other businesses do, these are small numbers to keep track of, You run software on the accounts and the software flags suspicious behaviors. But I can tell you now that they already know many of the dealers and individuals that are crooked. I've heard such discussions at trade shows. And software is even more advanced now. Individual coins can be identified even without the slab, just on what amounts to facial recognition software. They can easly have a database of stolen coins, and they can have standard procedures to track flags of incriminating patterns. This is neither hard or out of the ordinary. We live in 2021, not 1952.