GC and CAC Submissions
JMoo100
Posts: 112 ✭✭
Does anyone know what GC’s policy is with respect to submitting coins to CAC? I’ve heard on this forum (and I believe seen in GC’s marketing material) that they submit a lot of their client’s coins to CAC before they list them. Can anyone speak to how this process plays out? For example, does the GC team make a determination as to whether they think a coin will sticker and then submit accordingly? Do they ask the consigner whether they’d like to submit to CAC or whether it’s been submitted before? I guess at the end of the day what I’m trying to solve for is whether it’s safe to assume any unstickered material you’re seeing on GC has already been either passed over by CAC or by GC’s team deciding to forgo the CAC submission.
Once again, I understand we’re here to collect coins and not shiny green stickers, but would appreciate y’all’s input nonetheless.
Comments
It's up to the consignor to ask to have them submitted to CAC. Of course you can ask there opinion 1st and they will tell you if they think it should be submitted.
Mike
My Indians
Danco Set
There's an option on the consignment form for CAC. Consignors can select "GC to Decide", "Yes, Submit All", or leave blank, which means nothing is sent to CAC.
Many consignors leave it up to us to decide, and we take into account two aspects: 1. the chances of the coin to get approved by CAC and 2. the value increase. We pretend as if we owned the coin and decide based on that.
That being said, some consignors don't want to wait for the CAC approval, are against the nominal fees, and just want the coins listed as soon as possible.
My 2c: If you are looking for CAC-approved coins, I do not recommend buying anything but a CAC-approved coin. It doesn't make sense to gamble and buy non-CAC coins on the hope something will CAC. I give this same advance for those wanting a PCGS coin... (ie. don't buy a NGC coin hoping it will cross if you really want a PCGS coin).
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@ianrussell You guys are the best! I have submitted a hundred or so coins in the last couple of years and trust you guys to make the right decision…of the 10 percent or so coins you have sent to CAC i recall all but one got an approval…
I recently sent 39 coins to GC and I marked them for GC to decide and they sent 7 coins to CAC. My personal thoughts before submitting were that 15 or so shouldn’t go to CAC and about 10 I thought had a good shot and the rest I wasn’t sure. Nothing I sent in is extremely valuable so I didn’t want to waste fees on CAC and I was happy with the 7 they chose to send in. Still waiting for the results, I suspect it will be a bit before those come back.
I wonder who at GC makes that call. Do they employ a grader(s) that gives an opinion on every coin that requests one. For an auction house with thousands of items every week, even if you assume that only a quarter of the items are marked ‘GC to decide’ — that’s a pretty considerable work load. I would be curious for @MFeld ’s take
Why @MFeld's take? I'd be waaay more interested in what @ianrussell has to say.
@NJCoin I guess I just like the idea of two guys from competing auction houses in the same thread. @ianrussell is OG, of course!