The submission I mentioned earlier, my first, is on the way to CAC. 5 coins, all under $5000, all purchased from GC over the past 6 months. This will test the theory of whether it's a waste of time to buy coins without beans in hopes that they are not previous CAC rejects. I will announce the results.
The submission I mentioned earlier, my first, is on the way to CAC. 5 coins, all under $5000, all purchased from GC over the past 6 months. This will test the theory of whether it's a waste of time to buy coins without beans in hopes that they are not previous CAC rejects. I will announce the results. What is the average price of the 5 coins? Also how did you rate each coin in terms of chance for a CAC sticker after you purchased them?
In a CAC submission I would be submitting coins that are A or B in my view. I know how to grade and look at coins (not claiming to be grading expert just my ANA grading course and years on the bourse) I have upgraded numerous rattlers submitting those to PCGS although these days pickings slim.
I am sure there are no bean coins out there which the CAC submitter thought C coins and did not send to CAC. In addition the higher the CAC CPG value vs the non CAC CPG higher the greater likelihood possibly sent to CAC. Not everybody submits material to CAC. So trying to make generalizations on the process is pointless.
A friend who specializes in Barbers sends everything to CAC and the ones that did not sticker liquidated on eBay or one of the other auc places for most part or he just puts on special at bid plus 10 pct his table at shows. They move quickly he says.
I have always used the terms PQ (high end). Solid quality, and average quality in my own internal inventory designation (ABC) each with their own markup factors. CAC I class as A or B in that internal analysis as A marked up higher ( vs the CAC CDN bid for example). Super Toners a different animal and may have an additional tack on.
The submission I mentioned earlier, my first, is on the way to CAC. 5 coins, all under $5000, all purchased from GC over the past 6 months. This will test the theory of whether it's a waste of time to buy coins without beans in hopes that they are not previous CAC rejects. I will announce the results.
GC if you ask them will tell you if they submitted the coin to CAC. I don’t know if the other auction houses will disclose that information.
I highly doubt anyone who has submitted a coin that did NOT bean would send it to GC and....ASK THEM... to submit. Miracles can happen. But seldom in coins.
The submission I mentioned earlier, my first, is on the way to CAC. 5 coins, all under $5000, all purchased from GC over the past 6 months. This will test the theory of whether it's a waste of time to buy coins without beans in hopes that they are not previous CAC rejects. I will announce the results.
GC if you ask them will tell you if they submitted the coin to CAC. I don’t know if the other auction houses will disclose that information.
I know that Heritage does that, as I’m often asked and provide the information.
skier07 said: GC if you ask them will tell you if they submitted the coin to CAC. I don’t know if the other auction houses will disclose that information.
MarkFeld said: I know that Heritage does that, as I’m often asked and provide the information.
Winesteven now says: No surprise! I find Heritage very forthcoming and always helpful!
The submission I mentioned earlier, my first, is on the way to CAC. 5 coins, all under $5000, all purchased from GC over the past 6 months. This will test the theory of whether it's a waste of time to buy coins without beans in hopes that they are not previous CAC rejects. I will announce the results.
GC if you ask them will tell you if they submitted the coin to CAC. I don’t know if the other auction houses will disclose that information.
FWIW, I have asked DLRC about their coins on auction and have been told whether or not they have been submitted...
Keep in mind DLRC (and other auction houses) only know if THEY have submitted them, and MIGHT know if the consignor has submitted them. but they don't know if prior owners have submitted those coins and failed.
I know from experience that DLRC will make a recommendation to the submitter to send to CAC on their behalf but it’s optional from the consigner’s point of view.
I know from experience that DLRC will make a recommendation to the submitter to send to CAC on their behalf but it’s optional from the consigner’s point of view.
And the same is true from GC, Heritage, Stacks, Legends, etc. All of this is GOOD!
Keep in mind DLRC (and other auction houses) only know if THEY have submitted them, and MIGHT know if the consignor has submitted them. but they don't know if prior owners have submitted those coins and failed.
Steve, Yes you are correct, I should have been more specific. Thanks for the qualifier...They have only told me if THEY(DLRC) have submitted. Prior history, Who knows? Nick
Keep in mind DLRC (and other auction houses) only know if THEY have submitted them, and MIGHT know if the consignor has submitted them. but they don't know if prior owners have submitted those coins and failed.
Steve, Yes you are correct, I should have been more specific. Thanks for the qualifier...They have only told me if THEY(DLRC) have submitted. Prior history, Who knows? Nick
Nick - The real good news is if the coin has a very recent cert #, and have been told that the consignor and auction house have not submitted it, then chances are high it has not yet been rejected. But if not submitted, and is now being put up for auction, the way I interpret that is that an expert has looked at it and determined that money is not being left on the table by not having submitted it, since they think it would fail. So either way, for ME, if a coin in an auction has no CAC, and is selling in the high three figures or higher, I avoid it, unless I don't mind having a coin in my collection that does not merit a CAC.
Keep in mind DLRC (and other auction houses) only know if THEY have submitted them, and MIGHT know if the consignor has submitted them. but they don't know if prior owners have submitted those coins and failed.
Steve, Yes you are correct, I should have been more specific. Thanks for the qualifier...They have only told me if THEY(DLRC) have submitted. Prior history, Who knows? Nick
Nick - The real good news is if the coin has a very recent cert #, and have been told that the consignor and auction house have not submitted it, then chances are high it has not yet been rejected. But if not submitted, and is now being put up for auction, the way I interpret that is that an expert has looked at it and determined that money is not being left on the table by not having submitted it, since they think it would fail. So either way, for ME, if a coin in an auction has no CAC, and is selling in the high three figures or higher, I avoid it, unless I don't mind having a coin in my collection that does not merit a CAC.
Steve
Steve, I agree with you! Here is an example of a lower dollar figure coin I tried this "game" on....inexpensive Indian head cent, 1902 MS64RD... It did NOT CAC. You could argue the RED had toned to RB. From an eye appeal standpoint I love the toning hues that the coin exhibits. I was ready to keep it whether it CAC'd or not....I guess that's what you have to be prepared for...
If the coin is in a GC, Heritage or Stacks auction I assume the coin has been to JA at least once. Same with coins at some of the big dealers out there. It is known that a CAC bean gets you more money. Few dealers want to leave $$ behind.
Not all the time... I got a 1881-S Morgan in an OGH with very nice toning off GC and sent it to CAC, JA beaned it. I've gotten a few other coins from Stacks in both new and old holders that have also beaned post-auction.
Keep in mind DLRC (and other auction houses) only know if THEY have submitted them, and MIGHT know if the consignor has submitted them. but they don't know if prior owners have submitted those coins and failed.
Steve, Yes you are correct, I should have been more specific. Thanks for the qualifier...They have only told me if THEY(DLRC) have submitted. Prior history, Who knows? Nick
Nick - The real good news is if the coin has a very recent cert #, and have been told that the consignor and auction house have not submitted it, then chances are high it has not yet been rejected. But if not submitted, and is now being put up for auction, the way I interpret that is that an expert has looked at it and determined that money is not being left on the table by not having submitted it, since they think it would fail. So either way, for ME, if a coin in an auction has no CAC, and is selling in the high three figures or higher, I avoid it, unless I don't mind having a coin in my collection that does not merit a CAC.
Steve
Steve, I agree with you! Here is an example of a lower dollar figure coin I tried this "game" on....inexpensive Indian head cent, 1902 MS64RD... It did NOT CAC. You could argue the RED had toned to RB. From an eye appeal standpoint I love the toning hues that the coin exhibits. I was ready to keep it whether it CAC'd or not....I guess that's what you have to be prepared for...
The coin’s attractive but far removed from “RD” and in no way, a candidate for a CAC sticker.
Comments
I am sure there are no bean coins out there which the CAC submitter thought C coins and did not send to CAC. In addition the higher the CAC CPG value vs the non CAC CPG higher the greater likelihood possibly sent to CAC. Not everybody submits material to CAC. So trying to make generalizations on the process is pointless.
A friend who specializes in Barbers sends everything to CAC and the ones that did not sticker liquidated on eBay or one of the other auc places for most part or he just puts on special at bid plus 10 pct his table at shows. They move quickly he says.
I have always used the terms PQ (high end). Solid quality, and average quality in my own internal inventory designation (ABC) each with their own markup factors. CAC I class as A or B in that internal analysis as A marked up higher ( vs the CAC CDN bid for example). Super Toners a different animal and may have an additional tack on.
GC if you ask them will tell you if they submitted the coin to CAC. I don’t know if the other auction houses will disclose that information.
Miracles can happen. But seldom in coins.
GC if you ask them will tell you if they submitted the coin to CAC. I don’t know if the other auction houses will disclose that information.
MarkFeld said:
I know that Heritage does that, as I’m often asked and provide the information.
Winesteven now says: No surprise! I find Heritage very forthcoming and always helpful!
Steve
Steve
Yes you are correct, I should have been more specific. Thanks for the qualifier...They have only told me if THEY(DLRC) have submitted. Prior history, Who knows?
Nick
Steve
I agree with you! Here is an example of a lower dollar figure coin I tried this "game" on....inexpensive Indian head cent, 1902 MS64RD...
It did NOT CAC. You could argue the RED had toned to RB. From an eye appeal standpoint I love the toning hues that the coin exhibits. I was ready to keep it whether it CAC'd or not....I guess that's what you have to be prepared for...
626,775 coins received the Green Sticker (41.8%)
7,573 Gold Sticker (.5%)
865,652 rejected or passed for a sticker (57.7%)
Total 1.5M coins reviewed
Steve