If a coin submitted to CAC doesnt get stickered...
Herb_T
Posts: 1,754 ✭✭✭✭✭
What happens to the fee? Is it credited to your account for future submissions or ?
1
Herb_T
Posts: 1,754 ✭✭✭✭✭
Comments
Yes, for those that don't receive the bean, the fees are placed into your acct for future submissions or you can just ask for the money to be returned to you...provided you are a collector and not a dealer.
BST transactions: dbldie55, jayPem, 78saen, UltraHighRelief, nibanny, liefgold, FallGuy, lkeigwin, mbogoman, Sandman70gt, keets, joeykoins, ianrussell (@GC), EagleEye, ThePennyLady, GRANDAM, Ilikecolor, Gluggo, okiedude, Voyageur, LJenkins11, fastfreddie, ms70, pursuitofliberty, ZoidMeister,Coin Finder, GotTheBug, edwardjulio, Coinnmore, Nickpatton, Namvet69,...
If you are a collector yes, dealers pay for each coin sticker or not. Personally, I think that CAC should treat collectors the same as dealers, that would slow down the number of people sending in the kitchen sink just because they can.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
I didn't realize the fee was refundable if the coin submitted didn't sticker. I don't see anything about that on the CAC website. Perhaps it is on the submission form, which apparently is only available to collector/members, and new memberships are not accepted.
They want to turn around coins in one week, that's their business model. They have asked Collector accounts not to ship until July 15th. The $16 charged to collectors is sufficient since Dealers have the advantage of grading ability and intend to sell the coin anyway.
I agree that sending everything you own is pretty lowbrow. I have only sent coins I was pretty sure would make the cut. My success rate is about 75%.
It’s not listed anywhere that I am aware of; it is just a long standing CAC tradition that JA has graciously extended to collector members. It is not available (understandably) to dealers.
CAC will award an account credit. You can ask for a check for any surplus at anytime, and if CAC is near the end of its fiscal year, it will issue one its own as it doesn’t like to carry it over to the next year and CAC is adamant about treating collectors nicely.
The only thing I found in writing was in my membership acceptance letter:
"Currently, you will not be charged for coins that do not sticker." But it goes on to say, "these prices and practices are subject to change."
Tim
But when you send the same coin in 7 times and it finally stickers they also send you a kitchen sink
They should emboss a thumbs down icon on the slab if it doesn't sticker
My record is 4x for one coin, and it beaned on #4 (shoulda beaned in round 1)........
But no kitchen sink in return. I guess I have to find a 7er to get that.
Ok, so this may seem kind of wrong, but I don't send the fee for each coin I submit, I send enough to cover the coins I think will sticker...
I agree - it sounds wrong, unless you already have a credit on account.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
.... You sell it for melt value.
Then why send coins that you think won't sticker?
BST transactions: dbldie55, jayPem, 78saen, UltraHighRelief, nibanny, liefgold, FallGuy, lkeigwin, mbogoman, Sandman70gt, keets, joeykoins, ianrussell (@GC), EagleEye, ThePennyLady, GRANDAM, Ilikecolor, Gluggo, okiedude, Voyageur, LJenkins11, fastfreddie, ms70, pursuitofliberty, ZoidMeister,Coin Finder, GotTheBug, edwardjulio, Coinnmore, Nickpatton, Namvet69,...
JA is happy to use the review process for "collector members" as an educational exercise and that is why he doesn't (currently) charge for coins that don't sticker. You can always ask for notes/feedback and he graciously has called me before when I asked for feedback on a few higher value coins.
While I think it would be easier to just increase costs and charge collectors for all coins reviewed vs stickered to keep turnaround times fast, he wants to educate collectors and help them learn to identify problem coins before they even purchase them. He's a wealth of knowledge and I'm grateful for the service he provides!
Then why send coins that you think won't sticker?
I send "b" coins on the oft chance they will sticker.. Also I get about 60% stickers so I use that average for calculating my initial payment. I also always have a credit balance..