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Interesting CAC Sticker News

CAC is raising its rates, And apparently eliminating the freebie policy for rejected coins submitted by collector members although collectors and dealers will now receive a 25% rebate.


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  • I appreciate you posting this. In case there is any confusion, as CACFan pointed out, the 25% discount for unstickered coins will apply to all dealers AND collectors.
  • For clarification purposes, am I correct in my understanding that legacy CAC collector members will be able to submit 20 coins per year at the economy tier with 100% rebates for coins that don’t sticker?
  • edited May 2023

    For clarification purposes, am I correct in my understanding that legacy CAC collector members will be able to submit 20 coins per year at the economy tier with 100% rebates for coins that don’t sticker?

    I would love to hear from the @CAC_Team and @JACAC on this as well. It was my understanding that @JACAC has said collector submitters would have that option to submit up to 20 coins under the terms that hoocackalacky posted above. Has something changed with regard to this?? The letter seems to be a reversal of this prior statement from CAC.
  • edited May 2023
    Coinbuf said:
    For clarification purposes, am I correct in my understanding that legacy CAC collector members will be able to submit 20 coins per year at the economy tier with 100% rebates for coins that don’t sticker?
    I would love to hear from the @CAC_Team and @JACAC on this as well. It was my understanding that @JACAC has said collector submitters would have that option to submit up to 20 coins under the terms that hoocackalacky posted above. Has something changed with regard to this?? The letter seems to be a reversal of this prior statement from CAC.
    They have already stated their position 
    May 9, 2023


    Dear CAC member:

    We are proud to announce that we are making great strides towards making CACG a reality. We have planned a soft launch for our shareholders who may submit a limited number of coins for CACG consideration in Virginia Beach as early as June 1st.



    We will continue to sticker coins at our office in NJ but the regular tier will remain suspended. We plan on opening the regular tier once we determine our CACG price point and adjust our stickering fees.

    Once we begin encapsulating coins in VA, we will open up the grandfathered tier for CAC stickering to all current CAC collector members.  These members will be entitled annually to 20 economy coins with 100% rebates for coins that do not pass.  Please wait for instructions on how to submit coins on this special tier before sending them in to avoid confusion.

    We appreciate your support and patience as we move through this transition.

    Thank you,
    CAC Team


     


     
     
     
     
     
     
     
     
     
    P.O. Box 1776 ● Far Hills, NJ  07931
     
    Phone:  908-781-9101 ● Fax:  908-781-0746 ● CACcoin.com
    View this email in your browser
  • Stevie said:


    Coinbuf said:

    For clarification purposes, am I correct in my understanding that legacy CAC collector members will be able to submit 20 coins per year at the economy tier with 100% rebates for coins that don’t sticker?
    I would love to hear from the @CAC_Team and @JACAC on this as well. It was my understanding that @JACAC has said collector submitters would have that option to submit up to 20 coins under the terms that hoocackalacky posted above. Has something changed with regard to this?? The letter seems to be a reversal of this prior statement from CAC.

    They have already stated their position 
    May 9, 2023


    Dear CAC member:

    We are proud to announce that we are making great strides towards making CACG a reality. We have planned a soft launch for our shareholders who may submit a limited number of coins for CACG consideration in Virginia Beach as early as June 1st.

    This initial run-through will help us hammer out unforeseen bugs in our operations so that we may accept a second round of submissions for consideration, this time for all current CAC members. We believe the second round may happen as soon as July 15th and we will follow up with additional information regarding submission procedures.

    We will continue to sticker coins at our office in NJ but the regular tier will remain suspended. We plan on opening the regular tier once we determine our CACG price point and adjust our stickering fees.

    Once we begin encapsulating coins in VA, we will open up the grandfathered tier for CAC stickering to all current CAC collector members.  These members will be entitled annually to 20 economy coins with 100% rebates for coins that do not pass.  Please wait for instructions on how to submit coins on this special tier before sending them in to avoid confusion.

    We appreciate your support and patience as we move through this transition.

    Thank you,
    CAC Team


     


     
     
     
     
     
     
     
     
     
    P.O. Box 1776 ● Far Hills, NJ  07931
     
    Phone:  908-781-9101 ● Fax:  908-781-0746 ● CACcoin.com
    View this email in your browser
    Yes but this new letter contradicts the earlier position, so it would be nice to get confirmation that the position they have stated earlier is still correct and has not changed. Perhaps that was left off this last correspondence to avoid confusion, but It would be nice to know for sure.
  • For clarification purposes, am I correct in my understanding that legacy CAC collector members will be able to submit 20 coins per year at the economy tier with 100% rebates for coins that don’t sticker?

    Yes. These 2 policies are independent of each other.
    Thanks!
  • CAC_Team said:
    For clarification purposes, am I correct in my understanding that legacy CAC collector members will be able to submit 20 coins per year at the economy tier with 100% rebates for coins that don’t sticker?
    Yes. These 2 policies are independent of each other. Thanks!
    Is it up to 20 coins at one time, or 20 coins spread over the whole year? Thanks 
  • edited May 2023

    20 coins for the year. We'll keep track for you!
  • That seems like a balanced solution to me.
  • As a dealer, I would be willing to pay a much higher fee for each coin that stickers if no fee (or a much lower fee) would be charged for rejected coins. I buy coins based on their rarity and value, not eye appeal or technical quality, so the approval rate can be low at times.

  • The policy of CAC not making public the serial numbers of coins that have been previously looked at and rejected makes the reject/rebate senescence a much harder pill to swallow.

    The policy and the reasoning behind it is certainly understandable.

    But let's say one gets in a box or two of rattlers that seem to be great stickering candidates. It is very frustrating (not to mention the financial aspect) to get them all rejected and come to the realization that they were almost certainly previously rejected by CAC.

    So, yes, I agree with you CACfan...
  • edited May 2023
    1. Regarding the point made by @CACfan , there will be a reduced price for failed coins, both for dealers and collectors - a 25% reduction. Probably not as much of a reduction as you may have wanted. However, they do want you, especially dealers, to use their expertise in filtering the coins sent in, and not have you submit all of your rare dates and see what sticks against the wall.

    2. Regarding the point made by @Bushmaster, perhaps take the position that many of us take - if a coin above a certain value has no sticker, it’s a reasonable assumption (but no guarantee) that it has been to CAC and failed. The cost of doubting that is the cost of submission fees and shipping. As noted above, worst case, you get a 25% reduction for failed coins. Collectors might do a bit better for failed coins with the newly announced 20 coin policy.

    Steve
  • The policy of CAC not making public the serial numbers of coins that have been previously looked at and rejected makes the reject/rebate senescence a much harder pill to swallow.

    The policy and the reasoning behind it is certainly understandable.

    But let's say one gets in a box or two of rattlers that seem to be great stickering candidates. It is very frustrating (not to mention the financial aspect) to get them all rejected and come to the realization that they were almost certainly previously rejected by CAC.

    So, yes, I agree with you CACfan...

    In the scenario you mentioned, you always have the option of submitting some, rather than all of the rattlers, in order to test the waters.

    When a previously rejected coin is resubmitted, CAC has to do almost as much work in rejecting it (again) as they would in stickering it. All things considered, I think their policy is extremely fair and reasonable.

    Lastly, NGC and PCGS don’t make the cert numbers of their crossover rejects known, either.
  • edited May 2023
    MarkFeld said:
    The policy of CAC not making public the serial numbers of coins that have been previously looked at and rejected makes the reject/rebate senescence a much harder pill to swallow. The policy and the reasoning behind it is certainly understandable. But let's say one gets in a box or two of rattlers that seem to be great stickering candidates. It is very frustrating (not to mention the financial aspect) to get them all rejected and come to the realization that they were almost certainly previously rejected by CAC. So, yes, I agree with you CACfan...
    In the scenario you mentioned, you always have the option of submitting some, rather than all of the rattlers, in order to test the waters. When a previously rejected coin is resubmitted, CAC has to do almost as much work in rejecting it (again) as they would in stickering it. All things considered, I think their policy is extremely fair and reasonable. Lastly, NGC and PCGS don’t make the cert numbers of their crossover rejects known, either.
    Mark I was wondering what would prevent CAC from checking the serial numbers on the slab holder and looking to see if it was passed or rejected in their lookup data base? Than they really wouldn’t have much work to do
  • Stevie said:


    MarkFeld said:

    The policy of CAC not making public the serial numbers of coins that have been previously looked at and rejected makes the reject/rebate senescence a much harder pill to swallow.

    The policy and the reasoning behind it is certainly understandable.

    But let's say one gets in a box or two of rattlers that seem to be great stickering candidates. It is very frustrating (not to mention the financial aspect) to get them all rejected and come to the realization that they were almost certainly previously rejected by CAC.

    So, yes, I agree with you CACfan...
    In the scenario you mentioned, you always have the option of submitting some, rather than all of the rattlers, in order to test the waters.

    When a previously rejected coin is resubmitted, CAC has to do almost as much work in rejecting it (again) as they would in stickering it. All things considered, I think their policy is extremely fair and reasonable.

    Lastly, NGC and PCGS don’t make the cert numbers of their crossover rejects known, either.

    Mark I was wondering what would prevent CAC from checking the serial numbers on the slab holder and looking to see if it was passed or rejected in their lookup data base? Than they really wouldn’t have much work to do

    They can check the cert numbers, but they don’t automatically reject the coins that failed to sticker previously. I have heard of instances where they changed their opinion. And I choose to give them the benefit of the doubt they review the (known resubmitted) coins with an open mind.
  • C2CC2C
    edited May 2023
    Appears the pricing increase will hit collectors the hardest. We get hit with the shift away from not charging (aside from the $6/lot) for coins not stickering (which have increased DRAMATICALLY). That combined with the increased overall price point becomes a big double hit for collectors.My Dealer friends should be pretty happy with the 25% rebate, they weren't getting any thing at all, they were "all or nothing" on their sticker submissions.
  • +1 "All things considered, I think their policy is extremely fair and reasonable."
  • The price increase for stickering coins is a good sign that the stickering business will continue longer than previously expected.
  • oreville said:

    The price increase for stickering coins is a good sign that the stickering business will continue longer than previously expected.

    I think it's a good sign that they prefer not to continue for as long as previously expected,
  • Taking into account coins ALREADY STICKERED, the new SLAB business will have to take off like a rocket to justify any credibility.
    The market is the final arbiter of success.
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