Collector costs/options for CAC submissions?
Wahoo554
Posts: 1,135 ✭✭✭✭✭
What is a fair price to pay a dealer to submit coins to CAC on your behalf? I’d be interested in submitting 10 plus coins. Assume it isn’t a dealer that you typically buy coins from, but it is a local dealer so you would be able to hand deliver the coins to the dealer for submission. I recognize I would be responsible for shipping charges and CAC fees for coins that sticker, but am wondering what other costs to expect, e.g. compensation to the dealer for his time. Appreciate any comments.
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Assuming he is a reliable and a regular CAC submitter ask him all the details then compare to the prices posted at CAC itself and then decide if it works for you. Then check y gut if you really want 10 of your coins In the USPS system at once.
For me a coins MV would need to be over a certain amount plus a substantial enough difference between the CAC and non CAC bid in the sheet.
Case in point:
A PCGS 66 1934-D Oregon 50c bids 340 non cac / 360 CAC with minus signs this months sheet. Would I Send it to CAC - no.
A PCGS65 1881$5 Lib bids 1250 non CAC/ 2000 CAC. Would I send it to CAC - yes! Then with CAC it wb $2500 sell in my showcase vs $1560 sell on the non CAC. Got CAC?
If you’re submitting through a dealer, presumably, he will have to pay the submission fee for each coin, whether it stickers or not. Which means you will need to reimburse him, accordingly.
Off the top of my head, I think a fee of about $5/coin over his submission cost (and postage both ways) would be fair.
Also, if you’re going to be selling any of the coins after you get them back, it would be a nice gesture and good business to give the dealer first shot.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I have not submitted anything for a few years but unless the fee structure has changed dealers pay the review fee (now $15 per coin) for every coin not just those that bean. Its the collector/submitter who pay only on the coins that receive a sticker and is not charged a review fee for those that do not bean, then add in the postage, and new handling fee. As to the dealer, if your just sending in a small number of coins then maybe $4-$5 a coin, perhaps a flat fee if for a bigger group.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Dealers pay the fee regardless, collector members only pay for those that bean...plus shipping and insurance.
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I assume you mean $4-$5 in addition to the $15 review fee.
I submitted one coin through a member/dealer and it’s no cheap! but its an expensive coin to me so I wanted the sticker on it. Now if you have a dealer near you that should save a lot on shipping 😮
I had to ship it to CAC I used priority mail insured $27 the member sent me the form with info filled out so I shipped to CAC
grading 15
handling fee $5
return from CAC 20.23 to dealer
return to me from dealer fully insured 29.80
total due 97.03
https://www.pcgs.com/setregistry/quarters/washington-quarters-major-sets/washington-quarters-date-set-circulation-strikes-1932-present/publishedset/209923
https://www.pcgs.com/setregistry/quarters/washington-quarters-major-sets/washington-quarters-date-set-circulation-strikes-1932-present/album/209923
Yes
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Ya know, many people may not realize this. I have talked with quite a few collectors about this. CAC is causing many collectors to doubt and lose trust in the grading services. I still can't believe PCGS got on board with it. To me it really tarnished the PCGS Brand.
People who don't understand how grading works will always have doubts.
And some people who DO understand how it works will have doubts.😉
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I am sending some coins in myself later this month, my recent PCGS submission I posted the results of. As a collector, I do not pay unless it stickers. I sent you a PM with more details if you would like to submit with me. Let me know!
"It's like God, Family, Country, except Sticker, Plastic, Coin."
Wahoo, if you're just talking about widgets you may want to take up the poster above on his offer. If you aren't in a rush simply call CAC and have them mail you a member packet. My acceptance (and I think many others can attest to a similar timetable) was just 3 months.
While costs have increased a little over the years, since coins not receiving a bean have their fee returned (if you're a collector submitter), it's a no brainer. Having the knowledge that the coins I choose to purchase are indeed middle to high for the grade is a reassurance that I'm doing something right when I buy coins for my collection.
The comment above about CAC being a parasite simply doesn't stand up to the facts. As an example, a huge percentage of the coins recently sold at auction at FUN wear CAC stickers for a reason. The assurance that you're bidding on a coin that's been confirmed to not be entombed in an over graded holder by world class Graders. When you're bidding based upon a picture on your computer, unless you have someone in the room who's judgement you trust, that sticker is invaluable.
How does PCGS come on board? CAC reviews the coin after slabbing. CAC chooses which couns they will sticker.
I could start my own TPG review company, and if I have a good reputation and eye, could build a following.
Additionally, CAC returns coins I send using USPS Registered Mail. It costs about $20 but every stop along the way back home, post offices are required to lock up those packages and sign off. This ensures no packages get lost as can occur using any other method except hand delivery.
Someone needs a slab.
I just dropped my slab. I need a CAC-aide, lol!
Seriously, $4 to $6 per coin depending on whether it's a large or small order would by fair imo.
For a collector, do you just provide a credit card and then they bill you based on the results or does one prepay then they refund you the difference? Seems like it could be a lot of work for CAC. Sounds like they treat collectors well. I think the stickers help novice collectors. It’s one persons opinion, but I think it’s helpful for some.
You have to have a collectors membership to submit coins directly to them. As of now, they aren't accepting new members. Best way to submit to them is through a CAC dealer near you. The dealer will let you know what the fees are. The more you send in one submission, the more economical the price is per coin. Also, not worth sending in a coin with a value of less than $200 imo unless it;s included in a bulk order.
https://www.caccoin.com/how-to-submit/advanced-collectorsubmitter-memberships/
Always do what’s best for you and ignore the noise the best you can. IMO most collectors and dealers couldn’t grade their way out of a wet paper bag. They think they can which makes them even more dangerous. In my experience the collectors and dealers that complain the most about CAC are often the ones for need them the most.
My favorite thing about CAC is that you see less of those goofy Ink penned large orange PQ sticker on slabs these days on the bourse.
Yes CAC is just another opinion but it’s the opinion of a hall of fame industry leader, pioneer and world class grader at the helm. Some don’t put value on that which strikes me as counter intuitive.
PCGS who is the premier grading company added a PCGS/CAC Registry set option. That says a lot. Obviously they are comfortable with CAC and are comfortable in their own skin.
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Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
I usually just ask them to invoice me otherwise if you overpay you usually get that back as credit. It's more than one person's opinion since they are looked at by another grader first before John gives his final blessing.
Therein lies the problem. Most folks lack the reputation needed to make it in the marketplace.
He's talking about PCGS having a CAC registry now.
Ask around if you think I don't know how to grade.
Mark said "most"...do all the collectors you are talking to know how to grade as well as you?
When faced with the need to change most people spend all of their energy convincing themselves why they don;t need to change.
Like it or not CAC is here and coins that they have approved achieve consistently higher prices in the market. Keep telling yourself that they are the parasite and that you don't need to think differently
Latin American Collection
The OP asked for "costs/options for CAC submissions". Please pat yourself on the back in a different thread.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I send a check that covers about half of what I am submitting, generally, and the balance is usually added to my next submission. On average, I owe them about $50 although it has been as high as $1,000 after sending over a hundred coins in and having 80% sticker.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
CAC has become excepted by the markets so the grading company’s have no choice but to get on board.
I send some coins to GC for auction they sent 4 to CAC two came back green bean they double the average auction value one came back gold bean 4X auction value 😮 hate it or not it’s not only been excepted but it’s sought after which means people trust there decisions on weather or not the TPG graded that coin correctly.
https://www.pcgs.com/setregistry/quarters/washington-quarters-major-sets/washington-quarters-date-set-circulation-strikes-1932-present/publishedset/209923
https://www.pcgs.com/setregistry/quarters/washington-quarters-major-sets/washington-quarters-date-set-circulation-strikes-1932-present/album/209923