My own firsthand experience is with top grade mint state coins 1934-date where the differences between grading companies is more pronounced, ie one companies coins sells for 3 figures in top grade while another sells for 4 figures or more. Other segments of the market may be much less pronounced (and some segments, say top grade coins pre-1934, may be even more).
The knowledge of the difference in quality required to get a top grade prior to 2013 just comes from experience in submitting and collecting these coins. For more statistical evidence one just needs to pick a series and a top grade (say silver Roosies in ms68fb), and look at the pop reports from 2006, 2012, and 2018. There is very little change in the first 6 year period and drastic changes in the second 6 year period. The same pattern happens across all 1934-date series. I'm not going to spend the time right now to put all that data in a thread that's supposed to be about CAC approval, but I am perhaps going to someday write a book or a website.
For more anecdotal evidence, the Roosie collectors and Washington quarter collectors are all fairly tight knit groups where many of the collectors know each other through registries and forums and in person meetings at major shows. We all basically know who owned the finest coins at what times and in what holders. It's almost a game a ping pong where the tpgs take turns playing good-cop bad-cop and the coins bounce back and forth. One of my biggest regrets in the hobby is not looking more seriously at coins graded by other grading companies during the 2006-2012 era.
For some extreme examples (sorry I don't want to post links) see a 38-s dime and 64-d quarter GC Lot 552117 Feb 18 2018 Legend Lot 220 Jun 2019
Heritage Lot 8453 May 31 2008 SB Lot 2356 Mar 2021
There's 100s more (likely 1000s) that can be found in the auction archives alone. Again, perhaps I'll someday write a book or a website. Just let's hope auction companies don't shut down the archives (ie censorship).
Just to bring this back to CAC and the original topic, I fully believe that CAC currently has the best of intentions, but yes, deciding how much of a premium to pay is the tricky part and all we can do is "guesstimate". You don't know what the future will bring and how intentions may or may not change and how competitors may rise up or not rise up. Saying a blanket statement like "CAC coins are a better buy" or a "better investment" may or may not turn out true. It's still just a guesstimate.
Good points, thx. Have always found it interesting that PCGS will cross a coin from ANACS (if it qualifies) while NGC will not even consider it. In the end CAC must agree with those decisions, as we don't see beans on any but the two largest. I'm not sure I disagree. After all, to be reputable the sticker needs to be on a reputable, main stream holder, and all other TPG's have unfortunately fallen by the wayside.
To me it identifies those coins most difficult to sell, to personally let go of. Try it sometime. Have a third party hide the date/grade with masking tape. As you go through your stack decide which coins go in the Might Sell pile versus the ones in the Probably Keep pile. The second pile can also be called "Are you kidding me, sell?!" or "No way I'm selling!" pile.
If your experience is anything like mine, the coins in the Keep pile will be dominated by an oval green sticker. Those are your top picks, your pride and joy. You might have even waited years to buy each one.
Besides those coins most difficult to sell, I can think of at least two additional definitions. But what does CAC approval mean to you?
As to the benefits of CAC endorsement, the responses seems to overlap in a few areas: (Not in any order)
1) Liquidity, having a ready and willing market for your investments.
2) Convenience, automatically knowing that you're buying the best coins within grade.
3) Exclusivity, the prestige of owning an asset held in high regard.
4) Price appreciation, a proven track record of late.
To me it identifies those coins most difficult to sell, to personally let go of. Try it sometime. Have a third party hide the date/grade with masking tape. As you go through your stack decide which coins go in the Might Sell pile versus the ones in the Probably Keep pile. The second pile can also be called "Are you kidding me, sell?!" or "No way I'm selling!" pile.
If your experience is anything like mine, the coins in the Keep pile will be dominated by an oval green sticker. Those are your top picks, your pride and joy. You might have even waited years to buy each one.
Besides those coins most difficult to sell, I can think of at least two additional definitions. But what does CAC approval mean to you?
As to the benefits of CAC endorsement, the responses seems to overlap in a few areas: (Not in any order)
1) Liquidity, having a ready and willing market for your investments.
2) Convenience, automatically knowing that you're buying the best coins within grade.
3) Exclusivity, the prestige of owning an asset held in high regard.
4) Price appreciation, a proven track record of late.
5) Pride of ownership.
I think extremely highly of CAC. However..
1) CAC can make coins more liquid, but not necessarily at a price that a seller seeks.
2) Just because a coin has a sticker, doesn’t mean that you automatically know you’re buying one that’s the best within the grade.
3) Many people buy coins for reasons other than prestige and I’m glad that’s the case.
4) Overall, the rare coin market has been very strong during the past two years and that includes non-CAC coins - even common, generic ones that are available in large quantities.
5) Pride of ownership applies to non-CAC coins, as well.
To me it identifies those coins most difficult to sell, to personally let go of. Try it sometime. Have a third party hide the date/grade with masking tape. As you go through your stack decide which coins go in the Might Sell pile versus the ones in the Probably Keep pile. The second pile can also be called "Are you kidding me, sell?!" or "No way I'm selling!" pile.
If your experience is anything like mine, the coins in the Keep pile will be dominated by an oval green sticker. Those are your top picks, your pride and joy. You might have even waited years to buy each one.
Besides those coins most difficult to sell, I can think of at least two additional definitions. But what does CAC approval mean to you?
As to the benefits of CAC endorsement, the responses seems to overlap in a few areas: (Not in any order)
1) Liquidity, having a ready and willing market for your investments.
2) Convenience, automatically knowing that you're buying the best coins within grade.
3) Exclusivity, the prestige of owning an asset held in high regard.
4) Price appreciation, a proven track record of late.
5) Pride of ownership.
I think extremely highly of CAC. However..
1) CAC can make coins more liquid, but not necessarily at a price that a seller seeks.
2) Just because a coin has a sticker, doesn’t mean that you automatically know you’re buying one that’s the best within the grade.
3) Many people buy coins for reasons other than prestige and I’m glad that’s the case.
4) Overall, the rare coin market has been very strong during the past two years and that includes non-CAC coins - even common, generic ones that are available in large quantities.
5) Pride of ownership applies to non-CAC coins, as well.
Appropriate qualifiers, and excellent points overall.
I love the originality of cac coin surfaces and within the proper grade, they can be very attractive coins. TPG's being held accountable....
Even when I disagree with CAC's positive assessment (thinking the coin is meh) eventually there's always something interesting, even provocative I find in a stickered coin that first I didn't notice.
A sticker currently doesn’t mean a whole lot to me other than some people value those particular coins more than if there wasn’t a sticker on the holder. I have sent some coins in my collection in for approval mostly out of curiosity and being able to get more money for them if/when I sell. I don’t agree 100% with which coins do and don’t pass so I always take the sticker with a grain of salt. Some coins I thought were locks failed for some reason and others that I was iffy on passed, it’s a bit of crap shoot just like TPGs assessments are at times. I have several coins in my collection that to me are higher end for their grade and they failed and I’ve seen plenty of garbage coins with stickers. In the end it’s just the way the market is going so it’s either hop on for the ride or sit on the sidelines and watch the train disappear over the horizon.
To me CAC means another set of extremely educated eyes have looked at the coin and given their opinion. It is not the last word in my purchasing decisions but extremely helpful.
Comments
1) Liquidity, having a ready and willing market for your investments.
2) Convenience, automatically knowing that you're buying the best coins within grade.
3) Exclusivity, the prestige of owning an asset held in high regard.
4) Price appreciation, a proven track record of late.
5) Pride of ownership.
1) CAC can make coins more liquid, but not necessarily at a price that a seller seeks.
2) Just because a coin has a sticker, doesn’t mean that you automatically know you’re buying one that’s the best within the grade.
3) Many people buy coins for reasons other than prestige and I’m glad that’s the case.
4) Overall, the rare coin market has been very strong during the past two years and that includes non-CAC coins - even common, generic ones that are available in large quantities.
5) Pride of ownership applies to non-CAC coins, as well.
TPG's being held accountable....
I have sent some coins in my collection in for approval mostly out of curiosity and being able to get more money for them if/when I sell.
I don’t agree 100% with which coins do and don’t pass so I always take the sticker with a grain of salt.
Some coins I thought were locks failed for some reason and others that I was iffy on passed, it’s a bit of crap shoot just like TPGs assessments are at times.
I have several coins in my collection that to me are higher end for their grade and they failed and I’ve seen plenty of garbage coins with stickers.
In the end it’s just the way the market is going so it’s either hop on for the ride or sit on the sidelines and watch the train disappear over the horizon.