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It had to happen... a "CAC" service for moderns.
dbldie55
Posts: 7,719 ✭✭✭✭✭
First we had CAC. Then, to do the same task for world coins, WINGS was formed. Now, I see a new company (QA, Quality Assurance) for moderns has an ad in the new Coin World.
I wonder how much demand there will be for this type of service?
I wonder how much demand there will be for this type of service?
Collector and Researcher of Liberty Head Nickels. ANA LM-6053
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<< <i>First we had CAC. Then, to do the same task for world coins, WINGS was formed. Now, I see a new company (QA, Quality Assurance) for moderns has an ad in the new Coin World.
I wonder how much demand there will be for this type of service? >>
I suppose they will tell us if the MS70 coin in the holder is really a 70 or not. If Wondercoin is running such a company, there's value to be added. If just some Schmoe then it does more harm than good.
This could be a very lucrative field as not all (actually most) MS69 and 70 coin are anywhere near equal. Another way to separate the upper third.
Not a practical service for 69 vs 70 coins
<< <i>It's hard to tell a dust speck from a tick under plastic.
Not a practical service for 69 vs 70 coins >>
It is if your name is Wondercoin. It's a very practical service where there a sizable number of 70's and some of them are clearly superior to the others. MS70+ or MS69+ seems laughable at first....but that's probably coming down the road. I can't tell the difference as I'd expect both grades to be flawless. But, there are people like WC who can tell.
<< <i>greed. >>
I suppose you could say the same of anyone who has the audacity to start a business of any kind.
Coin Rarities Online
And I know my stature here is low related to my experience, however I have a lot of experience from modern mint release inspection both in capsule and out under 10x. The specks mentioned are the tiniest of particles and some come off out side the plastic and some turn out not to be specks but are ticks.
Also, at the 69 vs 70 level I am comfortable choosing them without a sticker.
Luckily the modern area is bigger than the 69 & 70 coins- like 1985 BS quarters for instance.
<< <i>I wonder how much demand there will be for this type of service? >>
Depends on how cute the sticker is they place on the slabs as something like My Little Pony stickers could be a huge hit?
Seriously it's a shame how dumbed down this hobby has become in the last 6 years.
Once the hobby of kings, now the hobby of chimps
Hopefully things will change as collectors today take the easy route of placing their full faith in the opinions of others instead of gaining the knowledge to rely on themselves.
Plus stickers for high end coins within a grade with eye appeal, and star stickers for eye appealing coins! Then Number stickers for undergraded coins!
I've amassed quite a set of IP here on the forums, no?
<< <i>Once the hobby of kings, now the hobby of chimps >>
I agree with Broadstruck.....now it is all about labels, stickers, +signs, *'s et al........
I like COINS's, and I do not care what others think of them, I can grade - and, like anyone else, it is an opinion - my opinion is as good as the next.
Cheers, RickO
Keep an open mind, or get financially repressed -Zoltan Pozsar
here
<< <i>
<< <i>Once the hobby of kings, now the hobby of chimps >>
I agree with Broadstruck.....now it is all about labels, stickers, +signs, *'s et al........
I like COINS's, and I do not care what others think of them, I can grade - and, like anyone else, it is an opinion - my opinion is as good as the next.
Cheers, RickO >>
I agree and moved fully to exonumia in 2009 as all my medals & tokens are worth the same raw or certified.
It will be fun to watch if the hobby as a whole continues this cycle of devolution or if collectors finally come to their senses?
Erik
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars
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My sets: [280+ horse coins] :: [France Sowers] :: [Colorful world copper] :: [Beautiful world coins]
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<< <i>My patent application pending new idea!
Plus stickers for high end coins within a grade with eye appeal, and star stickers for eye appealing coins! Then Number stickers for undergraded coins!
I've amassed quite a set of IP here on the forums, no? >>
I have an even better idea.
"Grade The Sticker" (patent pending).
This system would work a whole lot better if we could figure out a way to remove those pesky coins from the equation!
My Adolph A. Weinman signature
And I don't know that Id call it greed as much as I'd applaud them for attempting to start a business to fill an obvious void in the TPG Industry.
The name is LEE!
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<< <i>First we had CAC. Then, to do the same task for world coins, WINGS was formed. Now, I see a new company (QA, Quality Assurance) for moderns has an ad in the new Coin World.
I wonder how much demand there will be for this type of service? >>
I suppose they will tell us if the MS70 coin in the holder is really a 70 or not. If Wondercoin is running such a company, there's value to be added. If just some Schmoe then it does more harm than good.
This could be a very lucrative field as not all (actually most) MS69 and 70 coin are anywhere near equal. Another way to separate the upper third. >>
If Mitch was doing "WC" (Wonder Coin) stickers they would do very well.
<< <i>That's gonna be a really boring grading room. >>
<< <i>The difference between a 69 and a 70 matters primarily to the guy flipping it. >>
And "flipping it" naturally suggests a ready buyer.
The grading dilemma was settled by the finest TPG ever..
It truly wasn't settled. There were numerous opportunities for crack out arbitrage in the 1986-1990 market. It did get close though. And the grading was a huge improvement over the pre-1986 era.
The market liquidity issue at near top dollar was essentially solved from 1986-1989 with slabs....well, at least until Wall Street walked away from coins and the 1990 recession took hold.
<< <i>It'd be interesting to compare with the comments that were thrown about regarding CAC at first. If they're able to provide a service that has the same value as CAC is largely seen to have today, why not start such a business? >>
My thoughts exactly. There is a niche there but I'd go insane having to look at MS69 and MS70 Silver Eagles all day every day.
Latin American Collection
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<< <i>I wonder how much demand there will be for this type of service? >>
Depends on how cute the sticker is they place on the slabs as something like My Little Pony stickers could be a huge hit?
Seriously it's a shame how dumbed down this hobby has become in the last 6 years.
Once the hobby of kings, now the hobby of chimps
Hopefully things will change as collectors today take the easy route of placing their full faith in the opinions of others instead of gaining the knowledge to rely on themselves.
Couldn't have said it better myself.
<< <i>If it provides liquidity and they agree to buy sight unseen coins they have stickered like CAC does, then it is a good thing for the hobby. >>
Well put. A two-way market for coins is better than a 3 way gang bang for bucks. My hat's off to those who can create a niche within a niche for a hobby, where many are searching for their niche.
Nothing wrong with that, and I'm not one to judge those who's business is around the hobby, anymore than I'm here to begrudge anyone who collects what they like, in the hobby.
When it comes to the hobby…. it's anybody's game.
That expressed, let me add : To each their own.
The more, the merrier.
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<< <i>If it provides liquidity and they agree to buy sight unseen coins they have stickered like CAC does, then it is a good thing for the hobby. >>
Well put. A two-way market for coins is better than a 3 way gang bang for bucks. My hat's off to those who can create a niche within a niche for a hobby, where many are searching for their niche.
Nothing wrong with that, and I'm not one to judge those who's business is around the hobby, anymore than I'm here to begrudge anyone who collects what they like, in the hobby.
When it comes to the hobby…. it's anybody's game.
That expressed, let me add : To each their own.
The more, the merrier.
Maybe. But you should get something meaningful back for your buck.
And the way this is going it won't be long before we get a sticker to grade the sticker.
<< <i>I don't think anything about the service is "well put" and another thing have you ever been in a "three way gang bang"? >>
Really?
Latin American Collection
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<< <i>
<< <i>If it provides liquidity and they agree to buy sight unseen coins they have stickered like CAC does, then it is a good thing for the hobby. >>
Well put. A two-way market for coins is better than a 3 way gang bang for bucks. My hat's off to those who can create a niche within a niche for a hobby, where many are searching for their niche.
Nothing wrong with that, and I'm not one to judge those who's business is around the hobby, anymore than I'm here to begrudge anyone who collects what they like, in the hobby.
When it comes to the hobby…. it's anybody's game.
That expressed, let me add : To each their own.
The more, the merrier.
Maybe. But you should get something meaningful back for your buck. ... >>
That's the beauty of capitalism. If enough individuals decide that they are not getting meaningful value for their buck, then the business will fail. However, if they provide a valuable and worthwhile service to a large enough number of customers, then they will likely be successful.
Personally, I applaud their efforts, but have no use for the service.
<< <i>If it provides liquidity and they agree to buy sight unseen coins they have stickered like CAC does, then it is a good thing for the hobby. >>
Just a slight correction........ CAC has seen the coin hence the sticker. So it's not "sight unseen" when they make an offer on a coin. The good part is they don't ask to see it again like many dealers do.
Experience the World through Numismatics...it's more than you can imagine.
Like sorting fly $hit from pepper I say.
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
My digital cameo album 1950-64 Cameos - take a look!
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<< <i>
<< <i>Once the hobby of kings, now the hobby of chimps >>
I agree with Broadstruck.....now it is all about labels, stickers, +signs, *'s et al........
I like COINS's, and I do not care what others think of them, I can grade - and, like anyone else, it is an opinion - my opinion is as good as the next.
Cheers, RickO >>
I agree and moved fully to exonumia in 2009 as all my medals & tokens are worth the same raw or certified.
It will be fun to watch if the hobby as a whole continues this cycle of devolution or if collectors finally come to their senses? >>
I don't understand the negativity since in the first place, PCGS and NGC were never formed "for collectors". They were formed for and still service a very large number of Dealers.
You see, each Coin Dealer (like most coin collectors) has a tendency to add that 1 or 2 points accredited with ownership. The TPG's were formed so that a "consensus" could be arrived at for a coins grade based upon the graders relative experience in the field.
After years of seeing that not all MS66 coins are the same level of MS66 and that even some MS66 coins had actually been messed with, CAC was formed based upon, once again, the graders relative experience in the field AND the integrity of that experience.
However, the EXACT same criteria that the top TPG's established when they 1st Started, CAC also used. Namely, they will not accept modern coins or coins after a certain date.
This new company simply fills that void which most certainly exists. There are some PR69DCAM IKEs out there that aren't solid PR69DCAMs. Why not have a set of eyes validating the grade? In other words, why pay solid money for a coin which is either overgraded or misgraded?
It really makes sense to me and if James Sego is willing to go the distance then I'll get behind it because the bottom line is that the Moderns Market is huge.
The name is LEE!
I know there are a lot of people in Numismatics where the elevator does not run to the top, but this is one sideshow that takes the cake.
Read your ANA grading guide and study what they say about 69 and 70! Go ahead and get your little sticker but who is going to pay you anything for the coin anyway? Ultimately all coins tone or tarnish from exposure to the atmosphere - what are you going to do then?
<< <i>Its another gimmick to make a quick buck from the gullible and ignorant or to overprice coins which they have not been able to sell. I recently picked up a PCGS 70 coin (Mod silver dollar) at 45% of PCGS Price Guide Value. These coins are in such dire straits they can't even bring anywhere near market value at auction. And people are going to pay money to have some guy look at it and re-assure them its a 70 LOL. >>
If the coins are consistently bringing below PCGS Price Guide values, then it is not that the coins are not selling at market value. It is because the PCGS Price Guide is severely inflated on these. I think the coins are selling for their true market value.
<< <i>Sometimes its better to sit back and let this unfold and wait to see what happens. >>
It's all fun and games until...
Some stickered PR 70 develops 'MILK SPOTS'....... Then what????
Happy, humble, honored and proud recipient of the “You Suck” award 10/22/2014
<< <i>greed. >>
Greed shmeed....They just want the money .