Gold Sticker Premiums Are Getting Ridiculous

CACfan

A gold sticker usually means that a coin grades a point higher than its NGC/PCGS grade and would receive a green sticker in that higher grade. But below is a sampling of the commonplace price gouging for extremely common gold beaned coins.

$25,000 for (at most) a $100 coin?

john

Is it price gouging if nobody purchases at the asking price? Is it price gouging if a person does not perform due diligence to ascertain a reasonable price before purchasing?

I realize you do not intend to imply (I hope) that there is similarity of "gouging" of coins with a CAC gold sticker. It is not CAC endorsing "ridiculous" prices, it is not CAC encouraging "ridiculous" pricing, and it certainly is not CAC "gouging". Commonplace may be a stretch, and by extension, your post although not meaning to do so (again I hope) is an indirect taint.

Have you officially complained to eBay? Have you officially complained to the eBay sellers you identify in your Post? I would hope so.

CACfan

john said:

Is it price gouging if nobody purchases at the asking price? Is it price gouging if a person does not perform due diligence to ascertain a reasonable price before purchasing?

I realize you do not intend to imply (I hope) that there is similarity of "gouging" of coins with a CAC gold sticker. It is not CAC endorsing "ridiculous" prices, it is not CAC encouraging "ridiculous" pricing, and it certainly is not CAC "gouging". Commonplace may be a stretch, and by extension, your post although not meaning to do so (again I hope) is an indirect taint.

Have you officially complained to eBay? Have you officially complained to the eBay sellers you identify in your Post? I would hope so.

CAC has no control over what someone does with their products any more than a gun manufacturer does. When did I fault CAC? Such unfounded criticism would seem counterintuitive to my username.

Complaining to Ebay is a tedious, time consuming waste of effort. For instance, I have flagged Accugrade coins many times yet Ebay takes no action despite the blatant policy violation.

john

Then why bother, here? It must have been somewhat tedious and time consuming to do so, but I understand. Your post may be of help to those that read this forum and are not aware of such gouging tactics. I also would mention that it happens with or without the coins having a CAC sticker.

CACfan

john said:

Then why bother, here? It must have been somewhat tedious and time consuming to do so, but I understand. Your post may be of help to those that read this forum and are not aware of such gouging tactics. I also would mention that it happens with or without the coins having a CAC sticker.

But the price gougers use the gold CAC bean as the definitive excuse to grossly overprice PCGS/NGC slabs. They cannot use a green bean to do that. Or no bean at all.

Again, a gold sticker only guarantees that CAC believes that a coin grades one grade level finer than the TPG grade and would be green beaned in that higher grade, with merely the slight possibility of a higher assessment.

MarkFeld

CACfan said:

john said:

Then why bother, here? It must have been somewhat tedious and time consuming to do so, but I understand. Your post may be of help to those that read this forum and are not aware of such gouging tactics. I also would mention that it happens with or without the coins having a CAC sticker.

But the price gougers use the gold CAC bean as the definitive excuse to grossly overprice PCGS/NGC slabs. They cannot use a green bean to do that. Or no bean at all.

Again, a gold sticker only guarantees that CAC believes that a coin grades one grade level finer than the TPG grade and would be green beaned in that higher grade, with merely the slight possibility of a higher assessment.

I’d omit the “with merely the slight possibility of a higher assessment” part. As quite a few gold stickered coins look better than just one grade higher than the assigned grade.

Also, my experience has been that most dealers/sellers are fairly consistent in their pricing of coins. By that, I mean that some dealers are typically reasonable in their asking prices, both over time and regardless of market conditions. On the other hand, there are dealers who almost always quote unreasonably high prices. And those in the latter category don’t need the assistance of a gold CAC sticker to take vicious shots. Their coins can be ungraded, in any type of holder, of any grade or any appearance and the pricing will be out of this world.😉

fadetoblack1004

The first two people don't intend to actually sell for those prices, they are just fishing. Hence the OBO. Numbers 3 and 4 are, I think, looking for speculators gambling on the end of cheap, risk-free stickers.

Stevie

MarkFeld said:

Then why bother, here? It must have been somewhat tedious and time consuming to do so, but I understand. Your post may be of help to those that read this forum and are not aware of such gouging tactics. I also would mention that it happens with or without the coins having a CAC sticker.

But the price gougers use the gold CAC bean as the definitive excuse to grossly overprice PCGS/NGC slabs. They cannot use a green bean to do that. Or no bean at all. Again, a gold sticker only guarantees that CAC believes that a coin grades one grade level finer than the TPG grade and would be green beaned in that higher grade, with merely the slight possibility of a higher assessment.

I’d omit the “with merely the slight possibility of a higher assessment” part. As quite a few gold stickered coins look better than just one grade higher than the assigned grade. Also, my experience has been that most dealers/sellers are fairly consistent in their pricing of coins. By that, I mean that some dealers are typically reasonable in their asking prices, both over time and regardless of market conditions. On the other hand, there are dealers who almost always quote unreasonably high prices. And those in the latter category don’t need the assistance of a gold CAC sticker to take vicious shots. Their coins can be ungraded, in any type of holder, of any grade or any appearance and the pricing will be out of this world.😉

I wonder Mark how many people speculating for 2 grades higher with a gold sticker  are actually successful at achieving it when resubmitting to PCGS. I recently saw a Mercury dime in PCGS gold 66 go for $700 not in a rattler or ogh. Perhaps a gamble for a score at MS 68?

Stevie

CACfan said:

A gold sticker usually means that a coin grades a point higher than its NGC/PCGS grade and would receive a green sticker in that higher grade. But below is a sampling of the commonplace price gouging for extremely common gold beaned coins. $25,000 for (at most) a $100 coin?

I think more people are collecting Gold CAC stickers and are putting together some type of sets of Gold CAC coins. If this is so prices will tend to increase 

CACfan

MarkFeld said:

CACfan said:

john said:

Then why bother, here? It must have been somewhat tedious and time consuming to do so, but I understand. Your post may be of help to those that read this forum and are not aware of such gouging tactics. I also would mention that it happens with or without the coins having a CAC sticker.

But the price gougers use the gold CAC bean as the definitive excuse to grossly overprice PCGS/NGC slabs. They cannot use a green bean to do that. Or no bean at all.

Again, a gold sticker only guarantees that CAC believes that a coin grades one grade level finer than the TPG grade and would be green beaned in that higher grade, with merely the slight possibility of a higher assessment.

I’d omit the “with merely the slight possibility of a higher assessment” part. As quite a few gold stickered coins look better than just one grade higher than the assigned grade.

Also, my experience has been that most dealers/sellers are fairly consistent in their pricing of coins. By that, I mean that some dealers are typically reasonable in their asking prices, both over time and regardless of market conditions. On the other hand, there are dealers who almost always quote unreasonably high prices. And those in the latter category don’t need the assistance of a gold CAC sticker to take vicious shots. Their coins can be ungraded, in any type of holder, of any grade or any appearance and the pricing will be out of this world.😉

Your points are valid and professional BUT the gold bean gives less scrupulous sellers more ammunition to take advantage of less sophisticated consumers. And I know of many successful dealers who sell a mix of merchandise, some extremely profitable/overpriced, some not (aka loss leaders to draw in customers to buy the windfall stuff).

There are reasons that Heritage hired you but would never employ the aforementioned "mix of merchandise" dealers.