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CAC Is Slabbing Modern Coins?

CACfanCACfan
in Grading
Apparently, CAC's new slab service is certifying modern coins. In my view, they are a poor investment because they are far too common. And drawing interest and collecting/investment money away from vintage coins.

I wish that CACG would have limited itself to encapsulating coins of true rarity and history, as they are apparently still doing with their sticker service (although some issues, like Wheat cents that have mintages in the tens or even hundreds of millions, are much too common for me).

Why did CACG jump to the dark side?




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Comments

  • CatbertCatbert
    Revenue.
  • johnjohn
    Ah....the old Invest In Coins For Profit ploy.

    We don't need no stinkin' collectors that enjoy the Hobby. They just give History and learning a bad name... And don't get me started on those foreign coin collectors!
  • FlyingAlFlyingAl
    What's wrong with someone wanting to collect accurately graded modern coinage?
  • WilliamJWilliamJ
    Loved the statehood quarter program. I believe it influenced a lot of people to start collecting coins.
       I also enjoy Ikes and Kennedy coins. I tend to think of them as modern and attractive. I own a couple but nothing much.
  • noahlhnoahlh
    edited June 2023
    Can't blame 'em for this (if it's real/legit and not wishful thinking by RCTV).

    Something has to pay the bills to help subsidize the rest of the grading programs, and if I recall from reading one of Collectors' 10Ks, the modern programs pay A LOT of those bills.

    This seems like a relatively harmless way to move more plastic without negatively affecting grading standards/pops for the more "traditional" numismatics that many of us collect and deal in.
  • braddickbraddick
    I always thought the "dark side" was reserved for foreign coins.
    Other than that, I agree with the OP. There are enough Services handling moderns.
  • J2035J2035
    “Dark Side” generally refers to world coins.
  • J2035J2035
    I didn’t realize CACG was jumping into the label game with “First Delivery”. What other labels are available?
  • MeantToBeSpentMeantToBeSpent
    The modern market needs CAC or CACG just as much as the classic market (if not more as price jumps to top grade may be even more dramatic). I really hope they get things right.
  • johnjohn
    MeantToBeSpent said:

    The modern market needs CAC or CACG just as much as the classic market (if not more as price jumps to top grade may be even more dramatic). I really hope they get things right.

    Definitely.
  • bigtreebigtree
    I was surprised to see the RCTV “special” but I imagine/hope CACG has a different team of graders for modern bullion coins than for rare 18th century gold.  I think some transparency about the number of coins that CACG would apply the “first delivery” label (if it’s legit) on would be helpful so that consumers can make better informed decisions and hopefully not get taken to the cleaners by telemarketers. 
  • PyritePyrite
    edited June 2023
    I can't think of a less attractive job than grading modern mint
    :s
  • johnjohn
    braddick said:

    I always thought the "dark side" was reserved for foreign coins.
    Other than that, I agree with the OP. There are enough Services handling moderns.

    It is a matter of what is the perception of "handling" is. I am cognizant that my opinion is just that, and not an in-depth scientific study, but over the years my experience is TPGs that "grade" Moderns (and I am addressing specifically Washington Quarters and Jefferson Nickels and Lincoln Cents), all need to be a bit more cognizant of the Series.
  • MarkFeldMarkFeld
    bigtree said:

    I was surprised to see the RCTV “special” but I imagine/hope CACG has a different team of graders for modern bullion coins than for rare 18th century gold.  I think some transparency about the number of coins that CACG would apply the “first delivery” label (if it’s legit) on would be helpful so that consumers can make better informed decisions and hopefully not get taken to the cleaners by telemarketers. 

    I haven’t heard anything indicating that different graders will grade moderns.
  • JACACJACAC
    Modern coins are extremely popular and this is just a reality in today’s marketplace.  It is a fact that many of today’s new vintage collectors started out as modern buyers and have graduated. Investment? I certainly wouldn’t recommend them. I don’t even recommend non-encapsulated silver eagles as the premiums are sky high.   JA 
  • TyrockTyrock
    Just sent in a submission to CAC. I think I'll send in a couple of coins to CACG. I also saw that presentation on Tomaska's show. That was a surprise, but a nice surprise

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