CAC Coins Bring Premiums in August 2019

September 1, 2019

CAC approved coins outperformed other certified coins in two official auctions at the ANA Convention near Chicago, one of the two most important events of the year. Here are ten examples which were selected from a large number of results that could have been listed;

  1. On August 13, Stack’s-Bowers auctioned a CAC approved MS-65 grade 1904 $20 gold coin for $3840. This is not a fluke. In June, Heritage auctioned a different, CAC approved MS-65 grade 1904 $20 gold coin for the exact same amount, $3840. Earlier in June, the Goldbergs auctioned a PCGS graded MS-65 1904 $20 gold coin, without a CAC sticker, for $2280. On May 23, in Baltimore, Stack’s-Bowers auctioned a PCGS graded MS-65 1904 $20 gold coin, without a CAC sticker for $2160. Moreover, the already mentioned CAC approved MS-65 grade coins each brought more than non-CAC, PCGS graded MS-65+ 1904 twenties. On July 31, Stack’s-Bowers sold a PCGS graded MS-65+ 1904 twenty without a CAC sticker for $2400. In June, Heritage auctioned a PCGS graded MS-65+ 1904 twenty without a CAC sticker for $2640.
  2. On August 14, Heritage auctioned a CAC approved MS-65 grade 1924-S Peace silver dollar for $9900. In March, Stack’s-Bowers auctioned a PCGS graded MS-65 1924-S Peace dollar, without a CAC sticker for $5280. In February, Heritage auctioned a PCGS graded MS-65 1924-S Peace dollar without a CAC sticker for $4320. In January 2019, Heritage auctioned still another PCGS graded MS-65 1924-S Peace dollar without a CAC sticker for $4560.
  3. On August 14, Heritage auctioned a CAC approved AU-58 1827 $2.5 gold coin for $36,000. Over the last sixteen years, prices realized in Heritage and Stack’s-Bowers auctions (including Stack’s of NY and Bowers & Merena) for PCGS or NGC graded AU-58 1827 $2.5 gold coins range from $19,550 to $25,300; the latter price was realized by a CAC approved coin in 2011. Among these, the highest price realized for a PCGS graded AU-58 1827, without a CAC sticker, is the $21,150 result in a Stack’s-Bowers auction in August 2014.
  4. On August 14, Heritage auctioned a CAC approved Proof-66 1911 $2.5 gold coin for $40,800. On January 4, 2018, Heritage auctioned a PCGS certified Proof-66+ $2.5 gold coin, without a CAC sticker for $36,800. Note that the non-CAC 1911 $2.5 gold coin has a plus grade from PCGS while the Proof-66 1911 with a CAC sticker, which does not have a plus grade from PCGS brought significantly more at auction.
  5. On August 14, Heritage auctioned a CAC approved MS-67 grade 1924 $20 gold coin for $34,800. In March 2019, Heritage sold a PCGS graded MS-67 1924 $20 gold coin, without a CAC sticker, for $10,200. A year earlier, in March 2018, Stack’s-Bowers sold two PCGS graded MS-67 1924 $20 gold coins for $10,800 each, neither of which had a CAC sticker. In November 2017, however, Stack’s-Bowers auctioned a CAC approved MS-67 grade 1924 $20 gold coin for $26,400. In August 2017 and also in April 2017, Heritage sold PCGS graded MS-67 1924 twenties without CAC approval for $10,575 each. It is apparent that the CAC approved MS-67 grade 1924 twenties are worth much more than their non-CAC counterparts.
  6. On August 15, Stack’s-Bowers auctioned a CAC approved MS-62 grade 1921-D half dollar for $10,200. December 2018, Heritage auctioned a PCGS graded MS-62 1921-D half dollar without a CAC sticker for $8700.
  7. On August 15, Stack’s-Bowers auctioned a CAC approved MS-67 grade 1883-O Morgan silver dollar for $4320. In June, at a Long Beach Expo, Heritage auctioned a PCGS graded MS-67 1883-O without a CAC sticker for $2280. In April, at the Central States Convention, Heritage auctioned two PCGS graded MS-67 1883-O Morgans, without CAC approval. Each sold for $2400.
  8. On August 15, Stack’s-Bowers auctioned a NGC graded MS-62+ 1907 High Relief $20 gold coin with a CAC sticker for $16,800. In April, Heritage auctioned a PCGS graded MS-63 without a CAC sticker for $15,600. Both coins are of the “Flat Edge” or “Flat Rim” variety. In another words, an NGC graded MS-62+ coin with CAC approval brought more this year than a PCGS graded MS-63 coin without a CAC sticker. Generally, accepted price guides value a PCGS MS-63 High Relief Saint as being worth more than a 15% premium over a certified MS-62+ High Relief Saint. The fact that the certified MS-62+ coin brought significantly more at auction is circumstantial evidence of a substantial premium for a CAC sticker.
  9. On August 16, Heritage auctioned a CAC approved MS-64 grade 1886-O Morgan silver dollar $9600. In early June, at a Long Beach Expo, Heritage auctioned two PCGS graded MS-64 1886-O Morgan silver dollars, neither of which had a CAC sticker. Each realized $5760. In April, at the Central States Convention, Heritage auctioned a different PCGS graded MS-64 1886-O Morgan dollar without a CAC sticker for $5300.
  10. On August 16, Heritage auctioned a NGC graded MS-65 1913 $5 gold coin, with a CAC sticker for $9600. In April, Heritage auctioned a PCGS graded MS-65 1913 $5 gold coin, without a CAC sticker for $5773.20.