Correction to CAC Tax Math
chesterb
Posts: 989 ✭✭✭✭✭
The recent CAC Tax discussion was closed but it ended on a math error which the obsessive part of me can't have 
Here was the math:
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
Obviously there aren't 60 seconds per hour. There are 60 minutes. So .93 coins per minute.
There, I'm happy now that the math has been corrected and it shouldn't have ended with a miscalculation. You may close this thread so it doesn't seem like I'm creating trouble. 
4
Comments
Duly Noted
I usually Just mark them up CAC bid plus 50 pct. I don’t care how many days they work or whatever. What matters to me is will they sell.....getting good margin.
Anyone have any idea why the other thread was locked?
Does anyone know why someone would start a new thread on a subject where a similar thread was just locked down. Perhaps the OP is trying to get banned.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Because it strayed from a legitimate discussion on the premiums and such associated with the bean to salaries, speculation, and bickering.
Thank you for bringing the pure science of mathematics to our forum...
Those afflicted with OCD need to have these details correct....Even those of us not so afflicted can be irritated by mathematical error....especially in paychecks or change at the supermarket 
Cheers, RickO
Nice job
He can have weekends off now. Maybe more.
The pricing basis for CAC coins appears to be the CAC bid in the CDN. This is the only CAC math stat that matters to me. From that one simply takes that number times their markup factor. A coins (super PQ) usually marked up higher than B. C coins of course did not CAC.
Example: Dealer A (name withheld for privacy) gets back CAC submission: A coins (ones he deems PQ) marked up 50 pct over CAC bid, B coins (solid for grade) 30 pct. over CAC bid. C coins (did not CAC) marked up 10 pct over CDN non CAC bid (shows) or simply blown out on eBay. “It’s not much different how I did it before CAC (he says) as I can grade but It makes my process easier, consistent. For material not submitted (to CAC) I use same basis but non CAC bid the input.”
You’ve posted about pricing to this thread, twice. That has nothing to do with the OP’s topic.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Yes, the OP made his reason clear in his post. He couldn’t correct the math error in the original thread - the math error was bothering him. And he didn’t sound like he’s trying to get banned.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
50% over bid seems a ridiculously high mark up. God bless you if you can get it, but i'm thrilled to get 10% over bid most times.
All comments reflect the opinion of the author, even when irrefutably accurate.
To further clarify on the math, assuming three graders, that means about 3 minutes taken per graded coin, which leaves plenty of time for bathroom breaks.
My collecting “Pride & Joy” is my PCGS Registry Dansco 7070 Set:
https://www.pcgs.com/setregistry/type-sets/design-type-sets/complete-dansco-7070-modified-type-set-1796-date/publishedset/213996
Ah the (lack) of power of eBay?
I'm not talking about ebay. Look at Great Collections. Most CAC coins in most series don't get much over CAC bid.
All comments reflect the opinion of the author, even when irrefutably accurate.
I could probably buy every uncolored CAC buffalo nickel at GC this week for 20% over bid or less.
I buy CAC coins from GC for under CAC bid all the time.
Most coins (rarities excepted) do not have anywhere near a 50% bid/ask spread.
All comments reflect the opinion of the author, even when irrefutably accurate.
I would also add, if a CAC 65 Morgan is available on ebay for 10 to 20% over CAC bid, you have to be rather dense to buy it for 50% over somewhere else.
Ah the (lack of) common sense of non-eBay buyers.
All comments reflect the opinion of the author, even when irrefutably accurate.
CAC and eBay- two topics that just keep on giving.
LOL.
It's sort of a standing joke. But, if you think about it, what are the biggest market forces in coins?
It's not really a surprise, is it, that these things just keep popping up over and over? I mean, what is going to compete with them?
All comments reflect the opinion of the author, even when irrefutably accurate.
For the record, here are the recent sales (PCGS, CAC only) for 1913 Type 1 Buffalo Nickels on GC. Prices include Buyer's Premium.
June CAC Bid (greysheet) is $125 in 65 and $185 in 66
All comments reflect the opinion of the author, even when irrefutably accurate.
I would rearrange them like this: 1, 4, 3, 2, 5, and 6 in terms of force.
GC is a great venue but not what I would use to establish pricing.
Well, I just want to go on the record for having correctly predicted that the other thread would be closed. It happened a few hours earlier than I predicted, but not by much.
I’m surprised. I thought the side discussions were benign. I don ‘t think they objected to the original thread topic as it was up for a few days.
PCGS should really award a badge for that!
My bold prediction (no visual pun intended) is that this thread will be closed Monday morning...
We should start running a pool....
All comments reflect the opinion of the author, even when irrefutably accurate.
My only point was that it is not an eBay thing.
Here's the most recent Heritage prices (last 2-1/2 years; again, BP included; all PCGS, CAC)
MS66 - $210, $240, $216, $168, $240, $216, $204, $192, $191 [Avg price - $208 which is 12.7% over bid)
MS65 - $156, $99, $129 [Avg price - $128 which is 2.4% over CAC bid]
Or is Heritage also not a good source?
Maybe BST? I mean, who wouldn't want to pay 50% over CAC bid on BST when they could pay 10% over at Heritage or eBay?
All comments reflect the opinion of the author, even when irrefutably accurate.
I was going to edit but the thread got locked right after I posted.
One coin per minute for 13 years straight is still a fantastic accomplishment.
My Saint Set
If there was only one person grading, then one coin per minute would be accurate. But if there are three graders, that’s one coin per three minutes, which really isn’t a fantastic accomplishment.
What really is a fantastic accomplishment is how many coins collectors and dealers have submitted to CAC, and the large value of those coins. Apparently, many in our hobby recognize that CAC today is an important component of our wonderful hobby.
My collecting “Pride & Joy” is my PCGS Registry Dansco 7070 Set:
https://www.pcgs.com/setregistry/type-sets/design-type-sets/complete-dansco-7070-modified-type-set-1796-date/publishedset/213996
Or we could just acknowledge that @chesterb corrected his math error and leave it at that. No sense in continuing down the path of the last thread. We all know how that ended. Just my thoughts on the subject
I don’t think 50 pct over bid (CAC) for CAC coin is unreasonable for a piece (A coin) that is exceptionally PQ plus high demand. I have got this in the past (online store) on PQ material (had week to 10 days) but it is not a guarantee like doing a poker all in with 2 with aces and hope what comes down the river helps. The media is full of examples and ads of CAC coins realizing 2x bid and more. Plus I have run across this researching auction data with my CDN app. However a more realistic target wb 20-40% over bid (B/A coins) which averages out around CPG (except big ticket over $1000 for most part). It comes down to how badly the buyer wants it.
One can draw their own conclusions. Later on if it does not sell after 6 mo reduce or make bin / mo. If the speedster can’t make break big one for TD or 50 plus yards go to the Te and settle for 25. On other hand I have taken as little as $5 over cost or bid at shows on coins just to move them bc the wholesaler had boxes of neat stuff below bid I wanted.
It depends on the coin.
That’s too easy.
