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<p>[QUOTE=&quot;johnmilton, post: 24654010, member: 101855&quot;]There are collectors and, probably coin investors, who think that the CAC sticker is an iron clad guarantee that any piece which has it is properly graded. That is a reasonable assumption probably 97+% of the time. Some CAC approved coins don’t meet my expectations for good eye appeal, and CAC can make mistakes, but you can risk your reputation for saying that. I know from experience. </p><p><br /></p><p>There is supposed to be a group of dealers who will buy CAC approved coins with no hassle. The key question is, how much will they pay? </p><p><br /></p><p>The gold CAC sticker is given to coins that are superior for the assigned grade or under graded. CAC rarely gives it out. Among some CAC cultists, it is the holy grail. They will pay prices that are higher than the next grade up for these coins and sometimes well beyond that. To me, that’s crazy, but each to their own. </p><p><br /></p><p>This auction result appears to be a reflection of a bidding war between two or more CAC cultists. The coin in question appears to have what could be a rubber band burn in the reverse. I’m sure that’s why PCGS gave it the unusual MS-60 grade. Aside from that, the coin is better than an MS-60, but like most 1901 dollars, the coin has subdued, indifferent luster. Without the burn, the coin might grade MS-62. </p><p><br /></p><p>For many collectors, that defeat on the reverse is a big deal. That’s why I think that the price paid was whacky.[/QUOTE]</p><p><br /></p>

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