What is the purpose of CAC?

Discussion in 'Coin Chat' started by TylerH, Sep 4, 2018.

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  1. TylerH

    TylerH Well-Known Member

    Hi All,

    First off - this isn’t sarcasm. I am just curious what this service does?

    To me, it seems like CAC verifies the TPG your coin gets. Is this correct? Isn’t this kind of overkill ie: you send your coin to a TPG to get an expert grade assigned. Then you send it to another place so their expert can tell you that the first expert was right or wrong?

    Am I missing something? Again not being sarcastic I just don’t understand why a double expert is needed.

    Thanks
     
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  3. daveydempsey

    daveydempsey Well-Known Member

    Its to relieve the gullible of even more money.
     
  4. physics-fan3.14

    physics-fan3.14 You got any more of them.... prooflikes?

    A double expert is needed if you don't trust the first expert. It's also needed if you have too much money and just want to give it to someone. It's also really important if you can't grade coins for yourself and just buy slabs with numbers and stickers. Basically, its for the people who want to spend money on coins but have no interest in learning or studying for themselves and just want to rely on the numismatic authorities to tell them what to do.
     
  5. Gregg

    Gregg Monster Toning Supporter

    Several years ago there was a tiny company in Columbia that grew high end coffee beans. Each bag of coffee they sold had a small 'green bean of quality' on it. The owner of the coffee company also made money selling out-of-spec Chicken McNuggets to South American fast food chains. When the CIA busted up his operation (inadvertently causing Chavez to come to power) the coffee company went out of business and there was no longer a need for the 'green bean of quality' stickers.

    The three man shop (actually two men, one woman, and a computer) that made the stickers needed to find a new client so they came up with the 'green bean of quality' for coins. They pitched the idea to several people to no avail. It wasn't until they were down and out, jabbering to themselves in a gutter in L.A. that they were overheard by other homeless people who ran with the idea - I think the original three are still homeless but the tramps who started CAC are doing pretty good.

    I forget, if it is written is it libel or slander?
     
    ToughCOINS, yakpoo, LA_Geezer and 4 others like this.
  6. TylerH

    TylerH Well-Known Member

    So you are saying that it’s a tale as old as time.
     
    Gregg likes this.
  7. longshot

    longshot Enthusiast Supporter

    A lot could be said on both sides. But John Albanese, the founder of CAC, is a highly respected expert and dealer who has made a ton of money in coins, and in this business you need a good eye to do that. So some see it as another layer of protection.

    Also coins are classed as C, B, or A. ( low-end, solid, or high-end for the grade.)

    CAC helps weed out the coins that are correctly graded, but just barely made it. (the C coins.)

    That said, learn to grade accurately for yourself, and you won't need stickers.
     
    Last edited: Sep 4, 2018
  8. SilverDollar2017

    SilverDollar2017 Did someone say Morgan Dollars?

    Coins that are "choice" for the grade assigned by the TPG will get a CAC sticker.
     
    Bruce J Fick and Santinidollar like this.
  9. Santinidollar

    Santinidollar Supporter! Supporter

    CAC is just another tool in the collector’s toolbox. If you use it and how you use it is up to each individual collector.
     
  10. Chiefbullsit

    Chiefbullsit CRAZY HORSE

    Was it worth $20 plus shipping to get these two coins verified as top end for the grade?

    . 2.jpg 3.jpg
     
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  11. Santinidollar

    Santinidollar Supporter! Supporter

    I would say yes. Especially if — heaven forbid — you ever decide to sell them.
     
    Last edited: Sep 4, 2018
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  12. physics-fan3.14

    physics-fan3.14 You got any more of them.... prooflikes?

    I would say no. Because anyone who would buy them should already know they were top end for the grade.
     
    LA_Geezer, Eduard, beef1020 and 3 others like this.
  13. BooksB4Coins

    BooksB4Coins Newbieus Sempiterna

    This same "logic" can then be applied to many aspects of this hobby, but something tells me many wouldn't so eagerly agree.

    CAC is a tool and as with any tool is most useful in the hands of someone genuinely knowing how to use it. Like or hate CAC, they serve a valid purpose in this hobby albeit an avoidable one.
     
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  14. physics-fan3.14

    physics-fan3.14 You got any more of them.... prooflikes?

    See, I don't quite understand why these coins need to be "weeded out." CAC fanatics seem to think that only CAC approved coins are worthy of their attention, and anything non-CAC'd is dreck. The 'C' coins are still accurately graded! A VG-8 that is only a VG-8 and not a "VG-9+" is perfectly accurately graded as VG-8 and worthy of the grade! But CAC won't give it a sticker, and so to these CAC-o-philes the coin is unworthy of inclusion in their prest-i-gi-ous collection. They turn their noses up at merely common VG-08 coins! Pffffh. I wouldn't deign to allow a VG-08 to rest beside my precious CAC-worthy VG-08A coin! The Holy Grail is the only thing worthy of resting besides these blessed coins!
     
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  15. okbustchaser

    okbustchaser Just plain busted

    And people said exactly the same thing after TPGs came about. Some still do.

    As Books stated above CAC is a tool; so are the TPGs. Whether or not to use them or not is up to the individual.
     
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  16. Gregg

    Gregg Monster Toning Supporter

    Why would you want old coins in your collection?
    Get something new.
     
    Kentucky, Paddy54 and Paul M. like this.
  17. physics-fan3.14

    physics-fan3.14 You got any more of them.... prooflikes?

    Shoot, I still do! I think we place far too much weight on the TPGs, and not nearly enough weight on educating ourselves. Full disclosure - I'm only a year older than the TPGs.
     
  18. Santinidollar

    Santinidollar Supporter! Supporter

    I don’t think anyone — especially new collectors — is served well by blanket condemnations of TPGs and CAC.

    TPGs and CAC should not be blindly followed, but a sophisticated knowledge of grading and detecting cleaned and altered coins — as well as ferreting out the many fakes on the market — should be obtained before going raw-only. There’s too much money to be wasted and lost.
     
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  19. BooksB4Coins

    BooksB4Coins Newbieus Sempiterna

    That's a big part of the problem: while they shouldn't receive blanket condemnation or be blindly followed, far too many do just that, especially the latter. Not everyone is willing to invest the time into learning for themselves and is fine, but there are other options. Sadly, when such options are promoted there's always a few who jump all over them with the same blanket assumptions that help no one.

    My biggest personal problem with the TPGs is the fact they're for-profit businesses that do not have the collector's interest at heart. It's not because this is a bad thing (on the contrary) but again goes back to assumptions. Far too many seem to be under the impression that the TPGs are there to save them when the fact is little could be further from the truth.
     
    LA_Geezer likes this.
  20. TylerH

    TylerH Well-Known Member

    Ok so I’m still a little lost.

    You have an MS 66 graded Morgan dollar - for example.

    You send it to CAC and you get a gold sticker that your 66 is on the height end of 66.

    But, is that still “less” than an MS 67?

    Confusing. If you need “the best 66” why not just buy a 67?
     
  21. TylerH

    TylerH Well-Known Member

    Also - per a read above post I am in NO WAY against TPG. I use them all the time in fact in different hobbies. Just confused about CACs place. That’s all.
     
    ma-shops likes this.
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