Sending Coins to Auction and CAC
tyler267
Posts: 1,255 ✭✭✭✭
I have some coins I want to send to auction, I am thinking Great Collections.
My question is is it better to have GC send them to CAC or to submit them to CAC on my own. Is there an advantage one way or the other. Thanks.
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If you have a collector submitter account then you will not pay for any that CAC rejects. I assume that GC screens your consignment and only sends the coins that they feel have a good shot at being approved, however you will have to pay for those that are not approved. In the end I doubt that its much of an advantage either way.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
GC will carefully screen your coins and send in those coins to CAC that make sense.
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
It’s a wash. GC will send everything to CAC for you. You will pay for coins that sticker and don’t sticker but you will not pay for postage and handling. If you do it yourself you’ll only pay for coins that sticker but you’ll be responsible for shipping and insurance both ways and your time also has value.
I don’t want to turn this into a CAC thread but I would submit everything to them either yourself or through GC.
GC covers the postage and provides a discounted rate. I would definitely have GC do it.
As stated above, GC screens them for potential CAC stickerable coins, they have been pretty good with accurate estimates from my experience. The shipping alone will be better, on thier account, and cheaper. and safer. maybe even Faster!
I dont think whether a coin stickers or not , has anything to do whether ian sends it or you. if that were they case, the whole cac thing would lose credibility.
A good question would be if they send it to cac and auction it, can you still set a minimum bid you want to start the auction at or will it have to start at a $1.
I believe it is a great service that gc offers though.
It’s to their advantage to have coins sticker….more money from auction for them.
Send them to GC and let GC handle the CAC submission.... It will save you some $$ and a fair amount of work and time. Cheers, RickO
I agree with above comments, let GC handle sending to CAC.
Collector, occasional seller
Good point. When reviewing auction listings containing both stickered and non-stickered coins I tend to assume, perhaps incorrectly, that the non-stickered were submitted but failed. I zero in on the stickered coins when I bid.
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
I assume the stickered coins will carry a hefty premium (CAC Tax) due to the sticker and that premium may or may not be warranted.
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
The grade on the plastic can seriously limit your chance for a CAC sticker. I have two coins that are stickered because they were significantly undergraded (at least one grade level too low) as retoned coins rather than being 100% original. My hunch is every decent, problem-free coin will sticker if it's significantly undergraded by the TPGs.
Isn't that the whole point and promise of the CAC?
The premium is definitely warranted... it's the market.
The premium is definitely (not always) warranted. Likewise, the premium paid for various non-stickered coins isn’t always warranted, either. Just about any coin can sell for too much - at least according to everyone but the buyer.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I sent a large consignment to GC. They picked the coins that they thought would sticker. Sent them to CAC and they came quickly. Only 1 coin did not sticker. I was quite impressed and pleased. Definitely worth the time and effort to let GC do what they do best.
I'm picking nits, but I disagree. If you are paying the greysheet CAC premium, it is always warranted as that is the "market price". If you are paying some random premium based on the belief that the coin must be killer, then that is a different story. I take "CAC tax", in the post to which I was responding, to refer to the market price difference not some random premium assigned by the individual buyer.
It's something of a moot point and not one worth making by anyone, including the poster, if you take the question of personal taste and apply it to pricing. You could argue that the guide price is not always warranted, that the market price isn't warranted (see the thread on the 2020 privy gold), the numismatic premium isn't warranted (collecting coins - 1st world problems) or that the bullion price isn't warranted (it's only 90% after all). But that is just adding subjectivity to the market value that may fly in the face of whatever the market is telling you.
To a large degree, yes, but it seems like folks here will pass on perfectly good coins that are at grade or slightly overgraded. My dipped and retoned 52-O half in VF35 CAC wouldn't merit a sticker if it had been properly graded at EF40.
Hypothetically speaking, If I had two exact copies of a given date for the same price, one labeled VF35 CAC and the other EF40 no CAC, it seems like some folks would grab the VF35 CAC green and not the EF40 of equal quality.
I could even see people resubmitting coins to get a LOWER grade so it'll be stickered. I'm actually relieved now when a submit what I feel is a quality coin to a TPG and it comes back conservatively graded so that it isn't "plastic-limited" if I choose to send it to CAC.
A sticker IMO represents quality for the grade not the quality of the coin.
Does that muddy this up even more for you?
Yeah, i think a green CAC means 'an excellent example of the coin for the grade'
How does Heritage handle submitting coins like this for Cac for consignments?
Sounds like they should have sent more of your coins. I’d trust the experts at legend, stacks, heritage, dlrc or another coin company to screen my coins. They have numismatists on staff that actually know how to grade.
If you buy a coin through a place like greatcollections, heritage, legends, etc and it's not CAC'd, do you think it's because they didn't think it was worthy of the designation (or sent it in and it didn't sticker)? Would it normally be worth the effort to send it in at a later date?
I wouldn't think the $1 start is any problem at all, GC draws a lot of eyes.
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