@Bigtree said:
Over the past year, I’ve observed a lot of vest pocket/part-time dealers, usually younger guys and in many cases YNs, become CAC collector-members and submit high volumes of (mostly) widgets to CAC. And why wouldn’t they? It is all upside since they don’t pay for coins that don’t bean, and more folks are recognizing this and taking advantage of it.
It make me wonder if the current fee/membership structure is sustainable. (I also can’t imagine that JA and his team are thrilled with seeing a growing preponderance of widgets.) I suspect substantial fee increases, including charging for non-beaned coins, is in the works. Or perhaps the $16 tier will become like an “economy” tier that is much slower, which could reduce the incentive for vest pocket dealers/flippers to submit en masse.
All I read was, 'our business is growing and we're not thrilled'. If CAC wants to be a service for higher valued coins only, they can certainly do that. Why would they complain about their own service they provide?
@Bigtree said:
Over the past year, I’ve observed a lot of vest pocket/part-time dealers, usually younger guys and in many cases YNs, become CAC collector-members and submit high volumes of (mostly) widgets to CAC. And why wouldn’t they? It is all upside since they don’t pay for coins that don’t bean, and more folks are recognizing this and taking advantage of it.
It make me wonder if the current fee/membership structure is sustainable. (I also can’t imagine that JA and his team are thrilled with seeing a growing preponderance of widgets.) I suspect substantial fee increases, including charging for non-beaned coins, is in the works. Or perhaps the $16 tier will become like an “economy” tier that is much slower, which could reduce the incentive for vest pocket dealers/flippers to submit en masse.
All I read was, 'our business is growing and we're not thrilled'. If CAC wants to be a service for higher valued coins only, they can certainly do that. Why would they complain about their own service they provide?
The submission part is a very small part of what they do. It simply funnels material into where they are really active: buying and selling CAC coins.
C'mon its a two week turnaround at CAC normally. I have coins in grading for 60 fricken days other places , are you kidding me?. I can deal with a 30 day temporary hiatus.
@fathom said:
C'mon its a two week turnaround at CAC normally. I have coins in grading for 60 fricken days other places , are you kidding me?. I can deal with a 30 day temporary hiatus.
When you insert CAC in a thread you can throw rationale discussion out the window.
As I read the announcement the $35 tier applies only to coins over $10,000. If you take the announcement literally, lesser valued coins will not be looked at - that is, one doesn't have a choice to "pay up" for the service during the hiatus as some have inferred.
Also, the announcement I read said that CAC was unsure what the problem is with the PO. We might wait until we have some facts before jumping on the USPS. The local PO might be having the same problem staffing for demand that other businesses are having.
@oldabeintx said:
As I read the announcement the $35 tier applies only to coins over $10,000. If you take the announcement literally, lesser valued coins will not be looked at - that is, one doesn't have a choice to "pay up" for the service during the hiatus as some have inferred.
Copied from CAC's website:
Note- This change will affect all submissions postmarked 3/1/2022 and after. Coins under the $10,000 threshold may still be submitted on the $35 tier forms during this time.
That bean on that barber was a gift brother. I wouldn't put that coin in your continuing education dept catagory. Cleaned and retoned. Not a premium coin.
///
Quite possibly, CAC wants their brand associated with more valuable coins. The no charge freebies policy has come back to haunt the company.
@streeter said:
That bean on that barber was a gift brother. I wouldn't put that coin in your continuing education dept catagory. Cleaned and retoned. Not a premium coin.
///
Quite possibly, CAC wants their brand associated with more valuable coins. The no charge freebies policy has come back to haunt the company.
I don’t think CAC has been haunted by that policy. Having more than enough business (from both collectors and dealers) isn’t a terrible problem to have. And they can change their policies and fees if they ever feel a need to do so.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
@streeter said:
That bean on that barber was a gift brother. I wouldn't put that coin in your continuing education dept catagory. Cleaned and retoned. Not a premium coin.
///
Quite possibly, CAC wants their brand associated with more valuable coins. The no charge freebies policy has come back to haunt the company.
I don’t think CAC has been haunted by that policy. Having more than enough business (from both collectors and dealers) isn’t a terrible problem to have. And they can change their policies and fees if they ever feel a need to do so.
Field, shouldn't you be in bed? Dreaming of the next HA auction. Sweet dreams.
The no charge policy invited too many submissions of cheapy coins. People have been taking advantage of that policy and it resulted in CAC having to limit it. They DID change their policy by turning off the spigot.
@streeter said:
That bean on that barber was a gift brother. I wouldn't put that coin in your continuing education dept catagory. Cleaned and retoned. Not a premium coin.
///
Quite possibly, CAC wants their brand associated with more valuable coins. The no charge freebies policy has come back to haunt the company.
I don’t think CAC has been haunted by that policy. Having more than enough business (from both collectors and dealers) isn’t a terrible problem to have. And they can change their policies and fees if they ever feel a need to do so.
Field, shouldn't you be in bed? Dreaming of the next HA auction. Sweet dreams.
The no charge policy invited too many submissions of cheapy coins. People have been taking advantage of that policy and it resulted in CAC having to limit it. They DID change their policy by turning off the spigot.
I think you’re the one who should be in bed. Otherwise, you might have been able to spell my last name correctly.😉
I realize that they’ve made a change and they have the flexibility to make others, if needed. I don’t see that as being haunted by what they’ve been doing since day one. On the contrary, I believe that overall, it’s served them very well.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I suspect that higher fees for consideration of low value coins is here to stay with CAC. If they don't want to add additional staff and are getting too many low value coins, well, this is a solution to remedy that. It is in contrast to the promotion of stickered coins that are <$150 in value in a series of articles in the CAC Rare Coin Market Review magazine over the last year or so. I suspect CAC is sincere in wanting to help the normal collector, but it is taking its toll. Hence, I am thinking that for now on, $35 will be here to stay for all and I suspect that the Regular Tier submission 'hiatus' will be extended, and then again, and.............
And many folks here think CAC is damn near a non-profit! Why don't PCGS and NGC come up with an agreement, design a compatible holder and start slabbing each others slabs! After all it costs the same to get a bean now as it does for many of us to have coins graded! The holders wouldn't have to be as big as the monsters PCGS uses to slab GSA's now! That would be more bang for the buck IMHO!
@spacehayduke said:
I suspect that higher fees for consideration of low value coins is here to stay with CAC. If they don't want to add additional staff and are getting too many low value coins, well, this is a solution to remedy that. It is in contrast to the promotion of stickered coins that are <$150 in value in a series of articles in the CAC Rare Coin Market Review magazine over the last year or so. I suspect CAC is sincere in wanting to help the normal collector, but it is taking its toll. Hence, I am thinking that for now on, $35 will be here to stay for all and I suspect that the Regular Tier submission 'hiatus' will be extended, and then again, and.............
Comments
I don't think that example is going to change his mind about CAC. Retoned and letter transfer from the album.
Just saying...
@jmlanzaf , is there ANYTHING that can change his mind? I hear there are still members of the Flat Earth Society!
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
Worse than that edge damage!
If you squash a sphere it's flat!
That, too!
All I read was, 'our business is growing and we're not thrilled'. If CAC wants to be a service for higher valued coins only, they can certainly do that. Why would they complain about their own service they provide?
Check out my iPhone app SlabReader!
The submission part is a very small part of what they do. It simply funnels material into where they are really active: buying and selling CAC coins.
I wonder whether I could Pay $25 to receive half the sticker?
C'mon its a two week turnaround at CAC normally. I have coins in grading for 60 fricken days other places , are you kidding me?. I can deal with a 30 day temporary hiatus.
When you insert CAC in a thread you can throw rationale discussion out the window.
This is one of those cases where TV's make it look a lot worse lol. I just got it back in the interim.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
As I read the announcement the $35 tier applies only to coins over $10,000. If you take the announcement literally, lesser valued coins will not be looked at - that is, one doesn't have a choice to "pay up" for the service during the hiatus as some have inferred.
Also, the announcement I read said that CAC was unsure what the problem is with the PO. We might wait until we have some facts before jumping on the USPS. The local PO might be having the same problem staffing for demand that other businesses are having.
Copied from CAC's website:
Note- This change will affect all submissions postmarked 3/1/2022 and after. Coins under the $10,000 threshold may still be submitted on the $35 tier forms during this time.
Thanks, guess I stopped reading too soon.
That bean on that barber was a gift brother. I wouldn't put that coin in your continuing education dept catagory. Cleaned and retoned. Not a premium coin.
///
Quite possibly, CAC wants their brand associated with more valuable coins. The no charge freebies policy has come back to haunt the company.
I don’t think CAC has been haunted by that policy. Having more than enough business (from both collectors and dealers) isn’t a terrible problem to have. And they can change their policies and fees if they ever feel a need to do so.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Field, shouldn't you be in bed? Dreaming of the next HA auction. Sweet dreams.
The no charge policy invited too many submissions of cheapy coins. People have been taking advantage of that policy and it resulted in CAC having to limit it. They DID change their policy by turning off the spigot.
I think you’re the one who should be in bed. Otherwise, you might have been able to spell my last name correctly.😉
I realize that they’ve made a change and they have the flexibility to make others, if needed. I don’t see that as being haunted by what they’ve been doing since day one. On the contrary, I believe that overall, it’s served them very well.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I suspect that higher fees for consideration of low value coins is here to stay with CAC. If they don't want to add additional staff and are getting too many low value coins, well, this is a solution to remedy that. It is in contrast to the promotion of stickered coins that are <$150 in value in a series of articles in the CAC Rare Coin Market Review magazine over the last year or so. I suspect CAC is sincere in wanting to help the normal collector, but it is taking its toll. Hence, I am thinking that for now on, $35 will be here to stay for all and I suspect that the Regular Tier submission 'hiatus' will be extended, and then again, and.............
Best, SH
And many folks here think CAC is damn near a non-profit! Why don't PCGS and NGC come up with an agreement, design a compatible holder and start slabbing each others slabs! After all it costs the same to get a bean now as it does for many of us to have coins graded! The holders wouldn't have to be as big as the monsters PCGS uses to slab GSA's now! That would be more bang for the buck IMHO!