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First CAC submission

Billk9989Billk9989 Posts: 27 ✭
in U.S. Coin Forum

I’m an oldtimer who is getting ready to sell my coins, which I set aside many years ago, long before TPGs existed. In getting ready to sell I had the better ones graded at PCGS. Then I thought that I’d go all the way with the new way of things and try CAC. So I became a member and sent in a first batch, hoping that about half would sticker. No such luck, only a quarter of them stickered. I’m mildly disappointed, but not surprised because I’m no expert.

Overall I have to say that as an old time collector I find a lot of value in these services. In the days old it was standard procedure for a dealer to sell to you at one grade and want to buy back at a lower grade. This helps that problem, and makes it easier to know the value of what I have and set a price.

I do have a question, before I send in any more coins. I was under the impression that CAC charged only for what it puts a sticker on. Is this no longer the policy? All I received back was my coins.

Comments

  • MFeldMFeld Posts: 14,030 ✭✭✭✭✭

    @Billk9989 said:
    I’m an oldtimer who is getting ready to sell my coins, which I set aside many years ago, long before TPGs existed. In getting ready to sell I had the better ones graded at PCGS. Then I thought that I’d go all the way with the new way of things and try CAC. So I became a member and sent in a first batch, hoping that about half would sticker. No such luck, only a quarter of them stickered. I’m mildly disappointed, but not surprised because I’m no expert.

    Overall I have to say that as an old time collector I find a lot of value in these services. In the days old it was standard procedure for a dealer to sell to you at one grade and want to buy back at a lower grade. This helps that problem, and makes it easier to know the value of what I have and set a price.

    I do have a question, before I send in any more coins. I was under the impression that CAC charged only for what it puts a sticker on. Is this no longer the policy? All I received back was my coins.

    I’d suggest checking with CAC, but my guess is that they credited your account.

    Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.

  • winestevenwinesteven Posts: 4,687 ✭✭✭✭✭

    @MFeld said:

    I’d suggest checking with CAC, but my guess is that they credited your account.

    I believe @MFeld is correct. If indeed that’s the case, when you call, you can request they mail you a check for your credit balance if that’s what’s best for you, and they’ll gladly comply.

    A day without fine wine and working on your coin collection is like a day without sunshine!!!

    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
  • logger7logger7 Posts: 8,711 ✭✭✭✭✭

    Since they were raw when they were submitted you may have gotten better results than had you sent them in when the grading services started in the 80s since you said you got them before that. And cac has around a 40% sticker rate on submissions.

  • coinbufcoinbuf Posts: 11,581 ✭✭✭✭✭
    edited September 19, 2021 3:27PM

    If you use the portal on the CAC site once logged in you can see your account history and any balance. I'm very sure that CAC just credited your account, if you plan not to send in any more coins then you can contact CAC and request that any funds in your account be sent to you.

    My Lincoln Registry
    My Collection of Old Holders

    Never a slave to one plastic brand will I ever be.
  • pointfivezeropointfivezero Posts: 1,857 ✭✭✭✭✭

    Welcome to the Wonderful World of CAC, @Billk9989. As you may have noticed on this forum, everyone has an opinion on this service. From my perspective, CAC has helped increase my knowledge of coin collecting at a very reasonable price of admission. Do not be disheartened with your initial results. I started zero for my first eight coins but with the experience gained in the process, I improved to 11 passed coins for my last 15 submitted.

    As @MarkFeld noted, they remainder of your funds remain on account. If you check the portal section of their website, you should see your credit balance. When sending future submissions, one can use this balance when determining the funds required:

This discussion has been closed.