@amwldcoin said:
So all he employees are senior graders?(2 not 3 from what I understand) Are there that many senior graders out there? What qualifies a person to be a senior grader? I'm going to check out of this conversation. You all can believe what you want. If you don't think CAC is not making money....well don't I know what to say!
A couple of replies: "I saw an advertisement in The Numismatist offering up to $300,000.00 for a " senior grader " a year or so ago."
"The same advertisement that offered the $300,000.00 for a senior grader offered $75,000.00 for an intern."
Half a million for three graders doesn't sound excessive.
So, you think the salary of a senior grader has dropped by 70% in the last 13 years?
I checked with CAC today and was told that they have averaged approximately 9000 coins/month since their inception, that the stickering service is a loss leader and that, as they expected at the outset, they have lost money on it.
One other factor to consider (which I don't think has been brought up in this discussion) is that for many years, they did not charge collectors a fee for coins that failed to sticker.
Now that I have relayed some facts, which I obtained directly from the source, I will leave it to you to speculate, debate and believe whatever you wish. Enjoy.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
@amwldcoin said:
So all he employees are senior graders?(2 not 3 from what I understand) Are there that many senior graders out there? What qualifies a person to be a senior grader? I'm going to check out of this conversation. You all can believe what you want. If you don't think CAC is not making money....well don't I know what to say!
A couple of replies: "I saw an advertisement in The Numismatist offering up to $300,000.00 for a " senior grader " a year or so ago."
"The same advertisement that offered the $300,000.00 for a senior grader offered $75,000.00 for an intern."
Half a million for three graders doesn't sound excessive.
So, you think the salary of a senior grader has dropped by 70% in the last 13 years?
I checked with CAC today and was told that they have averaged approximately 9000 coins/month since their inception, that the stickering service is a loss leader and that, as they expected at the outset, they have lost money on it.
One other factor to consider (which I don't think has been brought up in this discussion) is that for many years, they did not charge collectors a fee for coins that failed to sticker.
Now that I have relayed some facts, which I obtained directly from the source, I will leave it to you to speculate, debate and believe whatever you wish. Enjoy.
How dare you throw facts at us that don't agree with our preconceptions?
If they are doing 9,000 coins per month - some free - they aren't generating more than $1 million in gross sales. So, easy to believe they don't make any money.
Comments
I checked with CAC today and was told that they have averaged approximately 9000 coins/month since their inception, that the stickering service is a loss leader and that, as they expected at the outset, they have lost money on it.
One other factor to consider (which I don't think has been brought up in this discussion) is that for many years, they did not charge collectors a fee for coins that failed to sticker.
Now that I have relayed some facts, which I obtained directly from the source, I will leave it to you to speculate, debate and believe whatever you wish. Enjoy.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
How dare you throw facts at us that don't agree with our preconceptions?
If they are doing 9,000 coins per month - some free - they aren't generating more than $1 million in gross sales. So, easy to believe they don't make any money.
9000/20 working days per month = 450 per day
450/ 8 hrs per day = 56 per hour
56/ 60 seconds per hour = .93 coins per second
Not bad considering no lunch or bathroom breaks
On second thought, JA might go even faster if he has to pee.
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