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Have you bought a coin subject to getting a CAC sticker?

Have you ever bought an expensive coin $1000 and up from a dealer subject to getting a CAC sticker, or have you considered asking a dealer if you could buy a coin condition CAC. My thinking is if he says no it either has been to CAC or is unlikely to receive a sticker. If he says yes than he has confidence in the coin. What’s your thoughts?

Comments

  • Your thoughts might be correct, but you may have left out at least two viable scenarios.

    The first being that the dealer might say "no" because in the dealer's mind the coin is too liquid to have to wait on a conditional sale. In other words, the dealer might believe the coin could/should sell easily without the CAC sticker and why would the dealer, in this instance, want to hold up turnover on a sale to one client when another client wants additional persuasion. You may not think this is a big deal, but in my experience as a dealer, a coin often had a "taint" on it when returned from a potential sale. I had vanishingly few coins return from a potential sale after in-hand inspection, but on those occasions where a coin was returned, I had myriad collectors back away from the coin (even if they wanted to be "next in line") for it, and often it was because they wondered what was wrong with it for it to be returned. In this case, the dealer incurred additional expense, sat on the coin during turnaround and found the market was spooked.

    In the second viable scenario, the dealer might think you are too high maintenance to do business with and will simply move on to other collectors or dealers who will engage in a straightforward transaction.
  • TomB said:
    Your thoughts might be correct, but you may have left out at least two viable scenarios. The first being that the dealer might say "no" because in the dealer's mind the coin is too liquid to have to wait on a conditional sale. In other words, the dealer might believe the coin could/should sell easily without the CAC sticker and why would the dealer, in this instance, want to hold up turnover on a sale to one client when another client wants additional persuasion. You may not think this is a big deal, but in my experience as a dealer, a coin often had a "taint" on it when returned from a potential sale. I had vanishingly few coins return from a potential sale after in-hand inspection, but on those occasions where a coin was returned, I had myriad collectors back away from the coin (even if they wanted to be "next in line") for it, and often it was because they wondered what was wrong with it for it to be returned. In this case, the dealer incurred additional expense, sat on the coin during turnaround and found the market was spooked. In the second viable scenario, the dealer might think you are too high maintenance to do business with and will simply move on to other collectors or dealers who will engage in a straightforward transaction.
    I understand your thinking. But how would other buyers know it is at CAC? And why the sale not go through if the dealer is knowledgeable enough to know what will pass at CAC almost all the time?
    Also if the coin is over $5000, wouldn’t it mean the coin may not turn over so fast. Thanks for your input 
  • my last four purchases of coins over $1000 and $5000 each was contingent on obtaining a CAC sticker. Rather than negotiate the price I negotiated obtaining the CAC sticker at no surcharge as I like each of these coins a lot. The dealers had never been approached in this way before but had no problems with my kind of offer. These were all quality dealers.

    Such kind of offer would probably be less successful in this current hot market..
  • oreville said:
    my last four purchases of coins over $1000 and $5000 each was contingent on obtaining a CAC sticker. Rather than negotiate the price I negotiated obtaining the CAC sticker at no surcharge as I like each of these coins a lot. The dealers had never been approached in this way before but had no problems with my kind of offer. These were all quality dealers. Such kind of offer would probably be less successful in this current hot market..
    Did all 4 succeed at CAC?
  • Good question.

    I would always ask-BUT why isn't the coin already CAC? Why would any intelligent dealer not get the bean. Its unquestionably worth more.

    The right way to do it is to offer to pay more w/the bean.
  • Legend said:
    Good question. I would always ask-BUT why isn't the coin already CAC? Why would any intelligent dealer not get the bean. Its unquestionably worth more. The right way to do it is to offer to pay more w/the bean.
    So are you saying everything you see online for sale from a dealer over $1000 is not qualified for CAC?
  • Stevie said:
    Legend said:
    Good question. I would always ask-BUT why isn't the coin already CAC? Why would any intelligent dealer not get the bean. Its unquestionably worth more. The right way to do it is to offer to pay more w/the bean.
    So are you saying everything you see online for sale from a dealer over $1000 is not qualified for CAC?
    At that price level she is recommending asking why money was left of the table in the first place. Its a valid question for her market, access to CAC and level of dealer but isn’t always applicable to every level. BrokenCC is a mega dealer that sells lots of expensive coins that haven’t been to cac due to the peculiarities of older rare dates and turnover, you gauge all coins/transactions on a case by case basis. 
  • Stevie said:


    oreville said:

    my last four purchases of coins over $1000 and $5000 each was contingent on obtaining a CAC sticker. Rather than negotiate the price I negotiated obtaining the CAC sticker at no surcharge as I like each of these coins a lot. The dealers had never been approached in this way before but had no problems with my kind of offer. These were all quality dealers.

    Such kind of offer would probably be less successful in this current hot market..

    Did all 4 succeed at CAC?

    Yes, of course.

    My recollection is partially incorrect. One of the four coins goes back to the 2005 year when CAC was not as well entrenched and I did not yet stipulate the CAC contingency.

    This one of the four coins was an 1926-S cent in PCGS MS -64 RB which I posted a photo and TDN remarked with a 64 like that who needs a 65?

    My comment in 2005 on the PCGS boards was as follows about Andy of Angel Dee. But this one was NOT subject to a CAC contingency.

    “Andy did not have a wonderful 1926-S cent to sell me but found a top graded PCGS 1926-S cent that would meet my standards and allowed me to negotiate directly with another collector/dealer if I liked it enough. Indeed, I loved it.
    I submitted it to CAC and it almost got a gold sticker per JA. But I was quite satisfied with the green sticker!”
  • Additionally at the 2010 Boston ANA show I plucked a 1916-D dime in the PCGS OGH slab graded G-04.

    I loved it and submitted it to CAC and received a CAC gold sticker. It is only one of two gold stickered 1916-D dimes in all grades, the other one an AU-50.

    When I showed it to Legend Laura at the show she remarked oh it is a gem good!
    I had never heard that term before or since.

  • edited January 8
    Legend said:

    Good question.

    I would always ask-BUT why isn't the coin already CAC? Why would any intelligent dealer not get the bean. Its unquestionably worth more.

    The right way to do it is to offer to pay more w/the bean.

    My recollection are of transactions that took place more than 5 years ago with one exception. So Laura does have a valid point but there are some collectors and dealers who still did not buy into the CAC advantage until about 2 years ago but still are buying and selling very nice coins for the assigned grade.

    That might still be the case with collectors but not dealers so much anymore?
  • Oh by the way, looking at a post above this one reminds me of a truly knowledgeable collector/dealer. i met him when I went to submit some coins at CAC years ago.

    Do listen to what he has to say. A shout out to TomB!
  • I had a dealer friend send me an image of a coin I had been looking for forever. He had just purchased it and told me that it would cost me X$ if it didn't CAC and X plus $1500 if it did. It ended up costing me the premium....


  • I was looking for an upgrade to my 53 CAC for a while, and when I was offered this coin by a fellow CBH collector/friend, I asked if he had sent it to CAC. He replied no, but then said he’d take off $XXX from his asking price if it didn’t sticker. 
    Fortunately, for both of us, I paid his full asking price  :)



  • BustDMs said:
    I had a dealer friend send me an image of a coin I had been looking for forever. He had just purchased it and told me that it would cost me X$ if it didn't CAC and X plus $1500 if it did. It ended up costing me the premium....  
    Now, that’s one coin I definitely would pay a premium!
    Beautiful looking Bearded Goddess!
  • To answer the OP, yes, I’ve told a seller that I will pay their asking price but they have to get it stickered first. 
  • I found another coin I bought on the condition that it stickered first. And I’m really glad it did.  Believe it or not, the true view is an accurate representation of how it looks in hand. 




  • Nice! I need to send some more of my capped halves to CAC
  • edited January 12
    Legend said:
    Good question. I would always ask-BUT why isn't the coin already CAC? Why would any intelligent dealer not get the bean. Its unquestionably worth more. The right way to do it is to offer to pay more w/the bean.
    If you can get a premium for it without the sticker, why increase your overhead? On 5 figure plus coins the CAC versus non CAC spread is much larger and the odds of a coin never having been submitted is lower (I.e. the odds of failure higher). On a $1k coin as posited by the OP, the spreads are tighter. If I can sell a trime for $1100 with a sticker and $1000 without, there isn’t much left after fees and postage especially when factoring risk and opportunity cost.
  • edited January 12
    If you take this strategy be prepared to pay more including potential nuisance/aggravation fee. Sight seen transactions are usually not regarded as approval sales and those that offer that option are getting something in return (I.e. larger profit margin) or it really isn’t worth their time.
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