CAC COIN PRICES IN THIS MARKET

CACNUTCOLLECTOR

I have been away from the Forum for a few months due to a period of intensive work activity. At least it pays for the hobby. Nonetheless, I have been staying active in the CAC coin market. I write to share one experience. At the end of this past summer, it seemed the hot market might be leveling off. It now appears the market for CAC coins - especially those with total CAC population figures under 50 - remains in an upward trajectory:

On Dec 18, GC auctioned an 1839 25c NGC AU58 CAC. The coin is handsomely toned, as noted by GC. The total CAC pop is 44. Starting in AU, the pop numbers and guide prices are:

AU 50 - 2 - $1350
AU 53 - 2 - $1420
AU 55 - 2 - $1530
AU 58 - 3 - $1800
MS 60 - 0 - $2250
MS 61 - 0 - $2700
MS 62 - 1 - $3600
MS 63 - 1 - $5700
7 more in higher grades starting at 12k and reaching 79k.

The coin garnered 12 bidders. After I dropped out at $2,000, three bidders chased it. The final sale price was $2400, which translates into $2700 with BP. The last CAC coin sold listed on PCGS auctions is a dark PCGS AU53 specimen for $1020 (Nov. 2021), which includes BP.

In retrospect, I’m not entirely shocked. These coins are hard to find. I would be curious if any Forum members bid on the coin, and what you think of the pricing. I guess one must wonder on this Christmas Day, where is the top of the CAC coin market? Any thoughts welcome. And hoping y’all get CAC coins, not a football or Red Ryder, for Christmas.

MarkFeld

I hope you’re not basing your assessment of the CAC “market” (even for coins with populations of fewer than 50) mostly on that one sale.

Catbert

I think in several series that the CAC guide prices are lagging the general market. For example, based upon my observation, seated halves are selling for more than price guide.

Coinstein

Welcome back!

The market for AU58 CAC coins has been going gangbusters for some time now and I do not see an end. If that coin was in a PCGS holder it would have brought even more.

CACNUTCOLLECTOR

Coinstein is correct. Mark, I could have posted dozens of examples of au58 liberty seated halves and quarters and dimes selling at auctions and on dealer websites for significant premiums in excess of (1) CAC guide (2) the already inflated PCGS guide and (3) auction records. My question is what other collectors think about this trend at the end of 2023 in terms of (a) are you passing up on coins you really want, (b) are you meeting these high levels to get the coins you want or (c) throwing your ipad/iPhone across the room when you are outbid on every coin you carefully considered at an auction?

DeplorableDan

I’ve  been cautious, I’ve seen several high grade CAC coins that sold high during the summer in stacks, legend, and heritage auctions be auctioned off on GreatCollections for a substantial loss, however that’s not the only thing I’m taking into consideration. A lot of the other coins I’ve been tracking seemed to have higher auction prices overall earlier this year, and coins listed at similar prices in dealer inventory are sitting longer. I am still buying coins that I like but just not going crazy trying to fill holes yet, I want to see how the market receives CAC grading once it opens, as I think many others do. In addition to that, while the economy getting any worse could shake things up, I haven’t really seen many layoffs, and there hasn’t been a catalyst for people to panic, yet.

I do plan to be buying quite a bit in January, as I’m bringing a stack of cash to the fun show and I’ll be bidding on some world coins the NYINC auctions, but there’s only a few coins that I would consider really stretching for. I haven’t been collecting long since I got back into the hobby, but I’ve been told winter is normally a slower point for the market most years. I have noticed a lot of attention with AU58 CAC coins though, we’ve discussed several on the other forum that sold well above what low grade UNCs normally sell for.

LarryC

My favorite grade is AU-58. I own several that look more like MS-63. Here is a prime example:

Lucanus

CAC coins, AU58 graded coins, and Liberty Seated quarters are all hot right now. I watched that coin and I'm not surprised at the winning bid amount. I've won a few CAC Liberty Seated quarters in the last few months that sold for over twice retail. If there are two collectors that need a certain date, you can bet on a really strong price.

Doug

MarkFeld

CACNUTCOLLECTOR said:

Coinstein is correct. Mark, I could have posted dozens of examples of au58 liberty seated halves and quarters and dimes selling at auctions and on dealer websites for significant premiums in excess of (1) CAC guide (2) the already inflated PCGS guide and (3) auction records. My question is what other collectors think about this trend at the end of 2023 in terms of (a) are you passing up on coins you really want, (b) are you meeting these high levels to get the coins you want or (c) throwing your ipad/iPhone across the room when you are outbid on every coin you carefully considered at an auction?

But what about coins graded other than AU58?

pcgscacgold

I have been paying up for CAC gold all year. I buy what I like. It’s a hobby for me and I don’t have to check the bottom line on purchases. 

The Early gold I bought this year was expensive but I love it. Keepers for me. 

Pyrite

EVERYMAN should collect AU58's!

Coinstein

Anything with a CAC sticker, not just AU58’s, but these in particular, are being bought up, even if at double guide, by many that think it is still a value. The auction craze is helping the run, and I am in to a point if it’s something that doesn’t show up too often, and I think the opportunity won’t appear again anytime soon.

Coinstein

Oh, and btw, I’m on my third ipad and have some sheetrock work to do!

CACNUTCOLLECTOR

It’s true that we are focusing on liberty seated au58 coinage, so the question is, what will end this rational (or irritational) exuberance? Setting aside unpredictable trends in the economy writ large, here’s a modest proposal. After CACG gets off the ground, dealers/collectors with large quantities of non-CAC coins that can’t be easily sold will be submitted to CACG so that they end up in CAC holders. Assuming a fair proportion of these coins are market acceptable, won’t that result in a giant surge in CAC approved coins? For example, won’t PCGS/NGC liberty seated coins graded ms60, 61, and 62 end up in CACG au58 holders, pushing up the pops of the au58 market? Just speculation on my part, and a reason I am not leaping at these coins right now. PS. An au58 1849 $1 sold tonight for $4500 at DLRC. Wow.

Winesteven

All of the “holes” in my broad collection are now filled. Every coin eligible for a CAC sticker has one. As such, I’m continuing as I have been for many years “on the hunt for upgrades”. While I’ll pay what it takes, I’ll only go for an upgrade if the eye appeal is nicer than the coin it would replace. The result has been twofold: many potential upgrades passed over, and secondly, a nicer looking collection!

Steve

Vincent.Savage

Winesteven said:

All of the “holes” in my broad collection are now filled. Every coin eligible for a CAC sticker has one. As such, I’m continuing as I have been for many years “on the hunt for upgrades”. While I’ll pay what it takes, I’ll only go for an upgrade if the eye appeal is nicer than the coin it would replace. The result has been twofold: many potential upgrades passed over, and secondly, a nicer looking collection! Steve

 I think I’m starting to get there at times .   But my patience runs thin or my ocd takes over and I go on a shopping spree .   But I’m trying to be more smart about getting better coins that have better eye appeal like you have stated .  Trying being the key word . 🤦🏻‍♂️🙈

larry