Today's CAC Results: Only 12 of 41 Coins Approved — Welcome to the CAC Educational Forum

Today's CAC Results: Only 12 of 41 Coins Approved

edited May 2023 in Grading
No, CAC's sticker service does not seem to be getting stricter as a consequence of their new slab service. In fact, CAC's grading criteria have always been remarkably consistent, at least for the previously rejected coins that I have resubmitted in slabs with different serial numbers. I did not buy the 41 aforementioned coins for their quality but because they are rare, underrated dates.

Curiously, four of the six NGC star coins were beaned. And a recent PCGS encapsulation garnered a gold sticker!

Some dealers would be upset by such a low approval rate but I am as happy as a vulture in a morgue because I will net a marginal $4,500 or so extra profit and I experienced the usual gambler's thrill, itself worth the modest expenses "gambled". Even such a small profit is better than any loss when you roll the CAC dice.
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  • edited May 2023
     🤓
  • Part of the reason CAC never charged a % grading fee was so that collectors could realize the vast majority of what is to gained in verification. This obviously still applies to dealers and there is no shortage of uses for our service! Glad you are enjoying it and sharing with us.
  • CACfan said:

    No, CAC's sticker service does not seem to be getting stricter as a consequence of their new slab service. In fact, CAC's grading criteria have always been remarkably consistent, at least for the previously rejected coins that I have resubmitted in slabs with different serial numbers. I did not buy the 41 aforementioned coins for their quality but because they are rare, underrated dates.

    Curiously, four of the six NGC star coins were beaned. And a recent PCGS encapsulation garnered a gold sticker!

    Some dealers would be upset by such a low approval rate but I am as happy as a vulture in a morgue because I will net a marginal $4,500 or so extra profit and I experienced the usual gambler's thrill, itself worth the modest expenses "gambled". Even such a small profit is better than any loss when you roll the CAC dice.

    Those are improved results from the last submission that you shared so congratulations on that. My results just popped this morning. Sent 14 coins, 12 stickered, three were gold and the stickered coins include an old white label rattler mot in the census that I brought in from the wild so pretty happy.
  • UPDATE: Thirteen of the 41 coins were approved, not 12, so this 31.7% sticker rate is not terrible given CAC's average 40% approval rate (600,000 out of 1.5 million as per JA's post on this forum). And again, NONE of these 41 coins were purchased for quality, just for their key date status.
  • CAC_Team said:

    Part of the reason CAC never charged a % grading fee was so that collectors could realize the vast majority of what is to gained in verification. This obviously still applies to dealers and there is no shortage of uses for our service! Glad you are enjoying it and sharing with us.

    Which proves that CAC is not a true for-profit business. It exists mainly to educate the public about grading accuracy and coin doctoring.
  • Cac has taught me more about coin grading, doctoring and damage than anyone else, including TPG's and my local dealers.
  • Congratulations on playing the game of maximizing value for your coins (I understand you’re a dealer looking to turn these over quickly, but it’s still the same game).

    While many years ago I stopped buying coins without CAC stickers hoping they would sticker, I play this same game too of trying to maximize value. I do it via Reconsideration. Both methods can work successfully.

    MANY collectors choose not to play that game.

    Steve

  • CACfan said:

    CAC_Team said:

    Part of the reason CAC never charged a % grading fee was so that collectors could realize the vast majority of what is to gained in verification. This obviously still applies to dealers and there is no shortage of uses for our service! Glad you are enjoying it and sharing with us.

    Which proves that CAC is not a true for-profit business. It exists mainly to educate the public about grading accuracy and coin doctoring.
    We are a not a true "business" in that we don't angle for 100% of what is on the table. Our rates are set not based on the market but only as a means of regulating short-term demand to keep inventory in order and turnaround times somewhat consistent. Trust is the currency we trade on!
  • If I ran CAC, I would charge an extra 2% fee for approved coins to cover any potential mistakes for which CAC would be held civilly liable in the event that CAC's normal insurance would not cover them. For instance, if CAC approved or slabbed a famous $3 million rarity that was later proven to have been altered, as extremely unlikely as that scenario seems.

    Also, I did not have high hopes for the vast majority of the aforementioned 41 coins, which as noted were purchased for rarity, not quality. But the gambler in me forced me to invest the modest expenses to shoot for the beans, which netted a marginal upside this time around.
  • CACfan said:

    CAC_Team said:

    Part of the reason CAC never charged a % grading fee was so that collectors could realize the vast majority of what is to gained in verification. This obviously still applies to dealers and there is no shortage of uses for our service! Glad you are enjoying it and sharing with us.

    Which proves that CAC is not a true for-profit business. It exists mainly to educate the public about grading accuracy and coin doctoring.
    That might have been true in the past as the real money was once made in buying and selling CAC stickered coins but as the demand for CAC stickered coin grew, hence drying up the supply of available stickered coins, CAC had no choice but to charge full market prices for stickering as well as grading. Too many investors now involved.

  • I used to buy inexpensive (under $100) non-stickered PCGS OGH slabbed coins assuming that they had not previously been submitted to CAC. But apparently i discovered that was no longer true especially as the typical way to buy coins is limited to viewing it through internet photos which is why I now agree with Winesteven’s approach.
  • oreville said:

    CACfan said:

    CAC_Team said:

    Part of the reason CAC never charged a % grading fee was so that collectors could realize the vast majority of what is to gained in verification. This obviously still applies to dealers and there is no shortage of uses for our service! Glad you are enjoying it and sharing with us.

    Which proves that CAC is not a true for-profit business. It exists mainly to educate the public about grading accuracy and coin doctoring.
    That might have been true in the past as the real money was once made in buying and selling CAC stickered coins but as the demand for CAC stickered coin grew, hence drying up the supply of available stickered coins, CAC had no choice but to charge full market prices for stickering as well as grading. Too many investors now involved.

    At least CAC is not charging a contingency fee for successful upgrades which smacks of a conflict of interest and creates distrust which JA is very careful to avoid.
    Very commendable.
  • YOU SAID: "At least CAC is not charging a contingency fee for successful upgrades which smacks of a conflict of interest and creates distrust which JA is very careful to avoid.
    Very commendable."

    I have heard that, for bulk submissions of modern coins, PCGS charges a higher fee for MS70 and PR70 certifications.
  • CACfan said:

    YOU SAID: "At least CAC is not charging a contingency fee for successful upgrades which smacks of a conflict of interest and creates distrust which JA is very careful to avoid.
    Very commendable."

    I have heard that, for bulk submissions of modern coins, PCGS charges a higher fee for MS70 and PR70 certifications.

    To my knowledge all bulk submissions are tier priced by grade. I don't remember the exact numbers, my last bulk submission was a dozen or so rolls of Morgan Dollars. Seems like the rates were: MS63 $8, MS64 $12, MS 65 $19, MS66 $27.
  • I'll just say this, I'm thankful that @CACfan does not run CAC.
  • edited May 2023
    YOU SAID: "To my knowledge all bulk submissions are tier priced by grade. I don't remember the exact numbers, my last bulk submission was a dozen or so rolls of Morgan Dollars. Seems like the rates were: MS63 $8, MS64 $12, MS 65 $19, MS66 $27."

    Good to know. I do not send in bulk submissions of common coins, so I do not know the pricing structure. I deal only in key dates and low mintage coins. There are not too many original rolls of 1893-S Morgans out there. Then again, I used to think that about 1885 Liberty nickels but since then about 90 additional MS66 and finer examples have mysteriously appeared in the PCGS population report.
  • Seatedman said:

    I'll just say this, I'm thankful that @CACfan does not run CAC.

    I am even more thankful that you do not.
  • I love it when cacfan gets called to task. 

    Lol 😂 


  • CACfan said:

    Seatedman said:

    I'll just say this, I'm thankful that @CACfan does not run CAC.

    I am even more thankful that you do not.
    I am most thankful I do not run CAC.

This discussion has been closed.