CAC is not accepting new members
Che_Grapes
Posts: 1,884 ✭✭✭✭✭
This has been the case for quite a while. Does anyone know why or how I can submit coins for cac beans? Recently an OP mentioned he just got accepted but it still shows no new members ... what is going on?
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You have to apply and be put on the waiting list, CAC adds from that list as they want to. For now find a dealer in your area that has the ability to submit, or reach out to a collector that can also.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Be patient. I was on the waiting list for ~three months before I became a member.
How to join the waiting list?
Ahhh apply for membership.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
It won’t let me apply - not accepting applications.
I cannot find a waiting list.
There is no place to find a waiting list, in the past you applied and were put on the waiting list. If you cannot apply then you cannot be put on the waiting list. I applied many years ago so it looks like things have changed, so if you want to submit some coins you will need to find a dealer or collector that can send in your coins.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Coin dealer here wants me to pay 16 / coin (which is the price, that’s fine) plus insured shipping (okay, makes sense) and wants 10% of the premium added from the cac sticker (wait, what?).
So - if I understood it works something like this: if the cac sticker increased the value of your coin by 100 dollars (say 450 to 550 based on greysheet price) - then he gets 10 dollars additional for that coin.
Obviously, I’m looking for other options - including trying to join myself. I have ~30 coins that I’d like to get considered for cac so I can complete my collection as I worked very hard to find graded examples that seem under-graded or just really nice cherry-picked coins. These are not coins I plan to sell but for my collection. Some of them I had graded and others I purchased graded but all of them should qualify for at least a green bean. Any suggestions welcome. Seems like a stretch to send 10k worth of coins to one of you to have sent in and back that is a lot of extra shipping costs and liability...
Yes unless there is another collector very close to you there will be added costs for shipping/ins, maybe a wash with what your local dealer is charging you. Before I became a collector/submitter I had both a dealer and collector friend send in some coins for me, however neither charged a premium for the coins that did get approved. And that was many years ago when shipping costs were far lower and even the costs at CAC were lower.
I don't really see that you have much choice, wait for the membership to reopen, or pay the extra costs and submit now through your local dealer or a collector. The problem with waiting is that costs (shipping, CAC fees, etc...) are likely to keep rising and there is no way of knowing when memberships will be reopened, so it could cost you as much or more in the future assuming you become an approved submitter.
If you have any sort of relationship with a bigger national dealer and can meetup with them at an upcoming show perhaps they would be willing to help you out without the premium add on fee. I wish I had a better option for you but I don't see one.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
i'm waiting for somebody on this forum to leap in and say "if you send me your batch of coins, I'll send them to CAC with my next submission, only charging you for the incremental shipping and insurance". That would be cool and kind, but I also see that such an offer would probably be "just this once" kind of thing... Do people around here do such kind things?
Well, yes, though I suspect that it’s very rare and selective.
Some years back, a fellow forum member- then in good standing though now banned, did offer to do that for me and just a handful of coins. Unfortunately I didn’t take him up on his offer and we’ve lost touch.
Given the increased challenges related to the pandemic and shipping difficulties, I might guess those offers are even rarer now.
Happy, humble, honored and proud recipient of the “You Suck” award 10/22/2014
"Get off my lawn!"
Yes, over the years I have seen it done by members here and on NGC, the dealer that helped me out is here, and my collector friend a member of the NGC forum. I have made that offer to members that I know, however that was for just a few coins. 30 coins worth 10K+ may be more risk than a lot of folks are willing to take on unless local.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
I wouldn't recommend it. I would do it for friends and local people. But, God forbid, if there were a theft or mailing problems, it creates a headache that has no upside. I mean, bad enough of my coins got stolen. What if your coins get stolen while in my possession?
Sorry, but no thanks.
I would use a local dealer to submit to CAC for you. You will pay the fee for every coin, but the dealer should help you weed out the ones that certainly won't pass.
Collector, occasional seller
Good point. I'm still not used to the practicalities of handling 5-figure coins.
I wouldn't do it for $100 coin. I'm not making any money on it and then I have to reimburse you for your lost coin???
I had predicated this on having insurance in the mix...
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Edited to add: which isn't so say that you or anyone else should make such an offer.
I would expect that only among trusted parties with some good history.
I don't get why the coin dealer is entitled to share in your coin's value simply by providing a conduit for certification. A fixed fee, yes.
Oh darn.
Great transactions with oih82w8, JasonGaming, Moose1913.
?
No cacs for you!
Keep us posted.
Steve
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
I think your best solution is to connect with a trusted CAC Member in your area. You might want to call CAC and ask the nice ladies who answer if you can get on the list. Ya just never know.
Additionally, I'd break up 30 total coins into 3 groups of 10. But that's just not to overburden their system.
I think the best way to get on the CAC waiting list is to write them telling them of your interest in coins and that you would like to be put on their waiting list when it opens up again. They are looking for solid clients with good references as their business model is all about trust. They don't need difficult people. The most efficient way to submit coins is in groups of 20 as each submission form only allows for up to 20 coins. Good luck.
If anybody wants to submit to CAC, please feel free to reach out. I submit regularly. I charge $2/coin for my time, plus a prorated amount of insured shipping each way, plus obviously shipping back to you. It isn't cheap thanks to insurance, but my packages are regularly into 5 figures so even if you send me $10k worth of stuff, it won't be shouldering the bulk of the expenses. Fee is $16 if it stickers (or whatever CAC is charging at that time), and no fee if it doesn't sticker.
Suggest going 8-10 coins at a time, minimum, to make it worth it, but hey its your money.
Next sub is probably happening on Monday, but after that, late March. I reserve my right to retract this offer at any time, and I do require you fill out a form for me that has the insured values so I don't have to run around figuring that out myself.
What do I get out of this? I get to see a lot of REALLY cool coins in hand. I also get yummy, yummy data.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
The idea of sending thousands of dollars in coins thru mail makes me nervous. I certainly would not want be risking somebody else coins.
Yes the sticker can increase CPG MV. But then you have to find somebody who will pay the money for it.
As I have sold all my CAC material and pivoted to world and currency all that CAC stuff not an issue for me. Pricing of coins can be subjective as to where fall in grade range. A PQ coin in theory should not need a sticker to bring more money. An experienced dealer will price PQ material higher than avg quality whether sticker or not. I am one who makes pricing decision not some millionaire dealer working his particular angle or novice barely in RCI. As Logan Roy of Waystar Royco would say…..
Don't dealers doing this for their customers take on the same risk? Or do they assume no liab. in case of an issue.
I would call CAC. Talking to someone sounds like a much better idea.
Yes, some do. But it is a customer. That changes the calculus somewhat. 1st of all, their inventory is probably fully insured. Second of all, they are making money off of their customers. They may or may not have their customers sign a liability waiver.
As I said, I would do it for a friend. But to do it as a favor to a virtual stranger means that I'm taking on a possible headache with no real upside.
It's all insured. If it gets lost/stolen, it happened. You get paid out for what you told me they were worth. Hasn't happened yet though, and I ship a lotta stuff, 500+ packages a year.
CAC coins, especially on nicer material, consistently bring stronger money.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
Try. Apply.
I sent an invoice to a former member here who was local and dropped them off for grading, cac was ok with that.
He had to have still been a member tho...