CAC Coins Bring Premiums at FUN Auction in Orlando (January 2019)

February 1, 2019

The official auction of the FUN Convention was conducted by Heritage during the middle of January at the Orange County Convention Center in Orlando, Florida. CAC-approved coins brought substantial premiums over coins of the same date, type and certified grade sold at the auction or previously. Here are ten examples among many that could be listed.

  1. A CAC-approved AU-50 1793 half cent was auctioned for $37,200. A few minutes later, a PCGS-graded AU-50 1793 half cent without a CAC sticker sold for $20,400.
  2. A CAC-approved AU-53 1793 Chain cent of the AMERICA – No Periods variety realized $102,000. In June 2017, another major auction firm sold a PCGS-graded AU-53 1793 Chain cent of the AMERICA – No Periods variety without a CAC sticker for $79,312.50.
  3. A CAC-approved MS-67 1924 Buffalo nickel realized $25,200. This could possibly be an auction record for a 1924 nickel. During the last ten years, the highest result for a PCGS or NGC-graded MS-67 1924 nickel without a CAC sticker was $12,925. It was a PCGS-graded MS-67 coin in a February 2014 auction.
  4. There were two PCGS-graded MS-64 1808/7 half dollars in this FUN auction. They were both struck from the same pair of dies. The CAC-approved 1808/7 half dollar realized $22,800 seconds after the PCGS-graded MS-64 1808/7 half dollar without a CAC sticker brought $10,800, less than half the price.
  5. An NGC-certified Proof-66 1880 Morgan silver dollar with a CAC sticker realized $11,400. Less than four weeks later on February 3, Heritage auctioned a PCGS-certified Proof-66 1880 Morgan silver dollar without a CAC sticker for $5760. The NGC-certified coin with a CAC sticker brought almost twice as much as the PCGS-certified coin without a CAC sticker.
  6. There were two PCGS-graded MS-62 1884-S Morgan silver dollars in this FUN auction in consecutive lots. The CAC-approved MS-62 1884-S Morgan silver dollar brought $21,600 moments after the PCGS-graded MS-62 1884-S Morgan silver dollar without a CAC sticker realized $16,200.
  7. A CAC-approved MS-66 1887-O Morgan silver dollar was auctioned for $43,200. In February 2018 in an auction at a Long Beach Expo, a PCGS-graded MS-66 1887-O Morgan silver dollar without a CAC sticker brought $28,800, much less than the CAC-approved coin.
  8. A CAC-approved AU-53 1861-D $5 gold coin realized $60,000. At the ANA Convention in August 2016, a PCGS-graded AU-53 1861-D $5 gold coin without a CAC sticker realized $42,314.10. Previously in January 2016 at a FUN Convention, a PCGS-graded AU-55 1861-D $5 gold without a CAC sticker went for $54,050. This year, a CAC-approved AU-53 1861-D $5 gold coin brought more than a non-CAC, PCGS-graded AU-55 (which is notably higher than AU-53) 1861-D $5 gold coin did three years ago. 1861-D $5 gold coins are not auctioned very often.
  9. A CAC-approved AU-55 1804 $10 gold coin with a crosslet 4 brought $90,000. Last February at a Long Beach Expo, a PCGS-graded AU-55 1804 $10 gold crosslet 4 without a CAC sticker was auctioned for $50,400.
  10. In this FUN auction event, there were three PCGS-graded MS-64 1914-S $10 gold coins. Two of the three were CAC-approved. These realized $13,200 and $12,000, respectively. The one that did not have a CAC sticker sold for $5280, less than half as much as either of the
    CAC-approved MS-64 1914-S $10 gold coins.
  11. CAC Coins Bring Premiums During April 2018

    May 9, 2018

    Coins that have been reviewed and stickered by Certified Acceptance Corporation (CAC) consistently bring premiums over other “non-stickered” coins in the marketplace. Below are some examples from recent actions sales on April 2018 one may use for a refference.

    Here are 10 examples among many that could be listed:

    1. GreatCollections sold a CAC-approved MS-67 1902 quarter for $18,562.62, on April 8. The only recent auction record for another certified MS-67 1902 quarter is the sale of the Gene Gardner coin, without a CAC sticker, in May 2015 for $7,637.50.
    2. Also on April 8, GreatCollections sold a CAC-approved MS-65 1912 $20 gold coin for $39,150. On April 24, Heritage auctioned a certified MS-65 1912, without a CAC sticker, for less than half as much, $18,000. Earlier, in January 2017, Heritage auctioned another certified MS-65 1912, without a sticker, for $21,150.
    3. At the Central States Convention in Illinois, on April 25, Heritage auctioned a CAC-approved MS-65 1837, No Stars, Small Date half dime for $3,000. In January 2018, at the FUN Convention in Tampa, Heritage auctioned a certified MS-65 1837 half dime of this same variety, without a CAC sticker, for $1,800. A year earlier at the FUN Convention in January 2017, another certified MS-65 half dime of this variety, without a CAC sticker, brought $2,585.
    4. In the Heritage auction at the Central States Convention, a CAC-approved MS-66 1854 half dollar realized $31,200 on April 26, 2018. On August 11, 2016, a different major auction firm sold a certified MS-66 1854 half dollar, without a CAC sticker, for $13,512.50. On August 13, 2011, another certified, but not CAC approved, MS-66 1854 half dollar brought $17,825 at auction.
    5. At the Central States Convention, also on April 26, Heritage auctioned a CAC-approved MS-63 1901 silver dollar for $16,800. On March 11, 2018, GreatCollections sold a certified MS-63 1901, without a CAC sticker, for $12,947.25. Early in 2017, two different auction firms each sold a non-CAC, certified MS-63 1901 for $10,575. Another CAC-approved MS-63 1901 was auctioned for $24,675, back in November 2016.
    6. On April 26, within a span of seconds, Heritage auctioned two PCGS-graded MS-67 1924 Peace Dollars. The one with a CAC sticker brought $9,600 and the coin without a sticker realized $6,900!
    7. On April 26, Heritage auctioned a CAC-approved MS-65 1915 $20 gold coin for $33,600. This is not a fluke, as the exact same coin was auctioned in January 2010 for $25,300. In January 2018, Heritage auctioned a certified MS-65 1915 twenty, without a CAC sticker, for $12,600. In the near past, Heritage has auctioned several PCGS graded MS-65, non-CAC, 1915 $20 gold coins: for $14,100 in January 2017, for $16,450 in November 2016 and in August 2016, for $17,625 in August 2016 and in February 2016. So, the CAC coin brought from 43.5% to 167% more than the non-CAC coins.
    8. Also on April 26 at the CSNS event, Heritage auctioned a CAC-approved MS-63 1854 silver dollar for $21,600. In January 2017, Heritage auctioned a non-CAC, certified MS-63 1854 silver dollar for $14,687.50. The CAC coin brought 47% more.
    9. On April 29, GreatCollections sold a CAC-approved, NGC-graded MS-67 1936-D quarter for $3,326.62. In the Long Beach sale during February 2018, Heritage sold a PCGS graded MS-67 1936-D, without a CAC sticker, for $2,600, 27.9% less than the CAC MS-67 1936-D.
    10. On April 29, GreatCollections sold a CAC-approved, NGC-graded MS-67 1959-D quarter for $1,800. In the Long Beach sale during February 2018, Heritage sold a PCGS-graded MS-67 1959-D, without a CAC sticker, for $780, much less than half as much. Back in August 2016, at an ANA Convention, Heritage auctioned a different PCGS-graded MS-67 1959-D, without a CAC sticker, for $881.25, also less than half as much as the CAC 1959-D that just sold for $1,800.

     

    CAC Coins Bring Premiums During March 2018

    April 27, 2018

    Coins that have been reviewed and stickered by Certified Acceptance Corporation (CAC) consistently bring premiums over other “non-stickered” coins in the marketplace. Below are some examples from recent actions sales on March 2018 one may use for a refference.

    Here are 10 examples among many that could be listed:

    1. On March 4, GreatCollections sold a CAC-approved, EF-40 1903-S Morgan silver dollar for $357.75 USD. On March 6, Heritage sold a certified EF-40 1903-S, without a CAC sticker, for $253.20. In January, Heritage sold a certified EF-40 1903-S silver dollar without CAC approval for $312. In October 2017, another major auction firm sold one for $288.

     

    1. On March 4, an NGC-graded AU-58 1911-S $10 gold coin, with a CAC sticker, realized $3,046.50. On February 23, Heritage auctioned a certified AU-58 1911-S, without a CAC sticker, for $2640.

     

    1. On March 11, GreatCollections sold a CAC-approved “MS-67” 1914-D dime for $8,493.75. Representative auction results for non-CAC “MS-67” dimes are: $3,290 in March 2016 in Baltimore; $4,700 in March 2015; $5,462.50 in January 2012; $3,335 in September 2010 at the Long Beach Expo; $2,300 in February 2010; and $2,760 in July 2009. The same CAC 1914-D that GreatCollections just sold was auctioned in December 2014 for $8,518.75. A different CAC MS-67 1914-D was auctioned for $6,900 in April 2011. Clearly, CAC MS-67 1914-D dimes have been bringing much more than non-CAC MS-67 1914-D dimes.

     

    1. On March 11, GreatCollections sold a CAC-approved “MS-65” 1928 Hawaiian commemorative half dollar for $3,543.75. Heritage recently auctioned two certified “MS-65” 1928 Hawaiian halves, each without a CAC sticker, for $2,880 on February 23 and for $2,640 on March 31.

     

    1. On March 18, GreatCollections sold a CAC-approved, ‘MS-67 Red’ 1947 Lincoln cent for $6,469.88. Four days later, Stack’s-Bowers auctioned a certified ‘MS-67 Red’ 1947 in a major collection, but without a CAC sticker, for $1,440. In November 2017, Heritage sold a certified ‘MS-67 Red’ 1947 Lincoln for $1,080.

     

    1. On March 22, Stack’s-Bowers auctioned a CAC-approved ‘MS-67 Red’ 1927 Lincoln cent for $5,280. About a month earlier, Heritage auctioned a 1927 Lincoln cent with the same certification but without a CAC sticker for $1,440. In November 2017, Heritage auctioned another with this same certification, also without a CAC sticker, for $1,020.

     

    1. On March 22, Stack’s-Bowers auctioned a CAC-approved ‘MS-66 Red’ 1930-S Lincoln cent for $1,320. So far this year, Heritage has sold two certified ‘MS-66 Red’ 1930-S Lincoln cents, without CAC stickers, for $360 in February and for $528 in January. In October 2017, GreatCollections sold a ‘MS-66 Red’ 1930-S, without a CAC sticker, for $596.25.

     

    1. On March 22, Stack’s-Bowers auctioned a CAC-approved MS-64 1925-D $20 gold coin for $31,200. Heritage auctioned a non-CAC MS-64 1925-D for $12,512.50 in April 2017 and another for $14,100 in January 2017.

     

    1. On March 22, Stack’s-Bowers auctioned a CAC-approved MS-64 1850-O half dollar for $7,800. Since coin markets peaked in the middle of 2008, there have been more than a half-dozen auction appearances of non-CAC 1850-O halves that are certified as MS-64 or “MS-64+” and not one of them sold for as much as $3550.

     

    1. On March 22, Stack’s-Bowers auctioned a CAC-approved MS-64 1889 half dollar for $2,640. A month earlier, Heritage auctioned a certified MS-64 1889 half, without a CAC sticker, for $1500.

     


    CAC Coins Bring Premiums During February 2018

    March 13, 2018

    Here are 10 examples of CAC (Certified Acceptance Corporation) approved coins that have drawn premiums recently, from among many that could be listed (prices cited include buyer’s premium):

    1. In the Goldbergs sale in Los Angeles shortly before the winter Long Beach Expo, a CAC MS-65 1900 Lafayette commemorative silver dollar brought $5,581 USD. At the FUN Convention in January 2018, two other certified MS-65 1900 Lafayette dollars, without CAC stickers, were auctioned for $3,360 and $2,880, respectively.

    2. The Goldbergs auctioned a CAC Proof-65 1883 half dollar for $3,819. On September 5, 2017, Bonhams auctioned a certified Proof-65 1883, without a CAC sticker, for $1,521. In June 2017, Stack’s-Bowers auctioned another non-CAC Proof-65 1883 half dollar, which realized $2,350.

    3. A CAC Proof-67 1907 quarter realized $3,525 in this Goldberg’s auction. This same coin was auctioned by Stack’s-Bowers for $4,935 in March 2017. In November 2017, Stack’s-Bowers auctioned a certified Proof-67 quarter without a CAC sticker, for $2,400.

    4. The Goldbergs auctioned a CAC MS-67 Vancouver 1925 commemorative half dollar for $3,055. Another major auction firm recently auctioned two other certified MS-67 Vancouver 1925 halves, both without CAC approval: one in December for $2,040 and another in November 2017 for $2,640.

    5. The Goldbergs auctioned a CAC EF-45 1861-S $20 gold coin for $2,703. At the ANA Convention in August 2017, a certified EF-45 1861-S, without a CAC sticker, went for $1,762.50.

    6. The Goldbergs auctioned three certified MS-64 1927-S Peace silver dollars in their February auction. One of the three had a CAC sticker and it brought $1,175. The other two went for $588 and $499, respectively.

    7. Well-circulated coins with CAC stickers brought premiums, too. A CAC Very Fine-35 1895-S silver dollar was auctioned by the Goldbergs for $940. Another auction firm auctioned two non-CAC, certified VF-35 1895-S Morgans, one for $630 in September and the other for $576 in December.

    8. On February 25, GreatCollections sold a CAC-approved MS-65 1901-S silver dollar for $4,708.12. The same firm sold a non-CAC certified MS-65 1901-S earlier the same month, on February 4, for $1,913.62 and another without a sticker less than two weeks later, on March 4, for $1,867.50.

    9. On February 25, GreatCollections sold a CAC AU-58 1882-CC $20 gold coin for $9,562.50. During the same week, Heritage auctioned an AU-58 1882-CC, without a CAC sticker, for $7,800.

    10. At the Long Beach Expo in February, Heritage auctioned a CAC approved MS-64 1875-CC half dollar for $7,440, a result that is more than twice as much as any non-CAC MS-64 1875-CC half has realized at auction since CAC was founded in 2007. Fifty “MS-64” 1875-CC halves have been certified by the leading grading services, 10 of which have been CAC approved.

    January 2018 CAC Coin Auction Highlights

    February 13, 2018

    At the official auction of the FUN Convention by Heritage in early January at the Tampa Convention Center, CAC-approved coins brought substantial premiums over coins of same date, type and certified grade sold then or in the near past.

    Here are 10 examples among many that could be listed:

    1. A CAC MS-66 1942/1 overdate Mercury dime brought $120,000. Two years earlier, the same auction firm sold a 1942/1 overdate with the same MS-66 grade, without a CAC sticker, for $76,375.

    2. A CAC VF-30 1797 half dollar realized $96,000. In November 2016, another 1797 half dollar that was also graded VF-30, without a CAC sticker, was auctioned by Stacks-Bowers’s for $64,625. Earlier, in August 2016, Heritage auctioned still another certified VF-30 1797 half, though without a CAC sticker, for $58,892.18.

    3. There were two MS-65 1911-D Indian Head $2.50 gold coins in this FUN auction. The CAC-approved coin brought $78,000, while the 1911-D without a CAC sticker realized $43,200.

    4. A CAC MS-64 1930-S $10 gold coin brought $69,000. Other MS-64 1930-S Eagles auctioned by the same firm, though without CAC approval, brought $61,689.85 in January 2017 and $64,625 in January 2014 when market prices were higher at that time.

    5. A CAC MS-61 1805 $2.50 gold coin brought $33,600, 30.58% more than a non-CAC MS-61 1805 $2.50 gold coin, without a sticker, sold by the same auction firm in July 2016, $23,325.

    6. A CAC MS-66 1920 Walking Liberty half dollar brought $28,800. In October 2016, the same auction company sold another that received the same grade, but did not have a CAC sticker, for $16,450.

    7. There were two MS-65 1921 half dollars in this FUN auction. The one with a CAC sticker realized $21,600 and the 1921 without a sticker realized $16,800.

    8. There were MS-67 1933-S half dollars in both the January 2018 and January 2017 FUN auctions. In 2018, a CAC-approved 1933-S brought $20,400. In 2017, a 1933-S without a CAC sticker, which was more colorful, brought $9,987.50, less than half as much.

    9. In this FUN auction, there was an NGC-graded MS-65 1906-D $20 gold coin with a CAC sticker and a PCGS-graded MS-65 1906-D $20 gold coin without a sticker. The CAC-NGC coin realized $15,600, while the (no CAC sticker) PCGS coin realized $12,600.

    10. A CAC-approved MS-63 1875-S $20 gold coin brought $14,400 in this auction. In April 2017, the same auction firm sold an 1875-S that received the same MS-63 grade, though did not have a CAC sticker, for $10,575, 26.6% less.


    Q&A with John Albanese: Adjustment Marks

    March 22, 2013

    One of our collector members, Ankur Jetley, recently sat down with John Albanese with the hope that he could shed some light on a few numismatic topics. This is the first of nine discussion questions in the series. Keep an eye out for the rest of the responses as we post them.

    Question # 1: Adjustment marks: approximately what percentage of coins with them pass CAC? How much is too much?

    I purposely waited over sixty days before answering this question. Adjustment marks are quite common on early U.S. coinage. CAC has probably viewed over 500 early coins from this period just in the last sixty days and only two weren’t stickered due to problematic adjustment marks. The first coin, an 1802/1 $5 in MS62, only had a few adjustment marks. They weren’t distracting in terms of their pattern as they were basically parallel. However, they were very deep and would be considered bothersome to even the most seasoned collector. The second coin, a 1795 50C in XF45, had about 10-15 much lighter adjustment marks. The biggest issue with the 1795 50C was the pattern of the adjustment marks, which crisscrossed over Miss Liberty’s profile, almost as though there was a tic-tac-toe board on the obverse. The ‘95 50C was a very easy call to not sticker, though the 02/01 $5 was a borderline call due to the coin being “fresh” and nearly MS63 in technical terms.

    Most coins with adjustment marks viewed by CAC are barely even considered potentially problematic and it is rare for adjustment marks to be factored into a decision as to whether they merit a sticker. There are currently four CAC graders and all have at least 30 years of coin grading experience. We’ve all been taught that adjustment marks are “mint made” and are rarely a factor in determining the desirability of early U.S. coinage.  I sure hope the current crop of young graders continues this tradition and doesn’t succumb to the pressures of less sophisticated coin marketers.

    A few additional points on adjustment marks from Douglas Winter, of Douglas Winter Numismatics:

    1. Adjustment marks are far less important on the reverse than on the obverse and less important at the border of a coin than at the center.

    2. Adjustment marks are most often seen on coins from the 1790’s and early 1800’s but they are sometimes seen on coins as late as the 1830’s.

    3. As you see more and more coins, you will learn that certain issues are prone to adjustment marks, such as 1794 Half Dollars, while others, such as 1807 Quarter Eagles, are not often seen with them.

    4. On coins with artificial color or altered surfaces, you will sometimes see this as the result of trying to hide adjustment marks. A “buried” adjustment mark can be a good giveaway for artificial color or enhancement.

    5. As a collector, if your first reaction when seeing a coin with adjustment marks is “yuck,” don’t force yourself into buying said coin. Yes, they are mint-made, but everyone reacts differently to them and a coin with heavy lines might be hard to re-sell down the road.

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