CAC Grading Service planned for start in 2023.
SilverPlatinum
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PCGS, NGC, and now we will have CAC as a 3rd reputable grading company 😀.
I hope they have lower grading prices than PCGS and NGC to start acquiring customers.
What do you think about their 1st year holders? Will they be collectable later on like the old PCGS and NGC holders? There are people buying the coins for the holders.....
URL: https://www.coinworld.com/news/us-coins/cac-grading-service-planned-for-start-in-2023****
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You are rather late to the party, already been discussed, a lot!
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Thread from October 13, when the article was published:
https://forums.collectors.com/discussion/1082569/coinworld-cac-grading-service/
Also, it's VERY highly unlikely that they will have any interest in having lower grading fees than the Big 2 in an effort to acquire customers. They have a very strong, premium reputation, and there are already a few discount grading companies from which to choose if that's what someone is looking for.
Sorry if this was discussed before....
I just got my physical copy of Coin World magazine in the mail yesterday and I saw the article.
Do they really have any interest in the small fish? I think their prices to be will be interesting.
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc
If there were affordable options for crossovers for non-top tier service coins, I could see an advantage. Otherwise this looks like further fragmentation of an already challenged and shrinking marketplace for classic US coins. Cac would never even look at, review non-top tier coins up to this point (Anacs, Icg, etc.).
Pricing is a thought though, regardless
Assuming resale prices do not inflate at the speed of grading fees (labor and margins) we are going to be sending in a lot less coins soon…killing the sport it seems.
To answer the question posed by @SilverPlatinum. In my opinion the reason prices are often higher for the older/original holders of PCGS and NGC is because, whether real or not, supposedly the standards for grading used then were stricter than the grading standards used by those companies later on. Hence, the coins in those holders are often believed to be undergraded. Do YOU believe (and more importantly does “The Market” believe) that the grading standards used by CAC Grading in the first year will be stricter than the standards they will use in years down the road?
Here’s an objective reason why I say the answer to the above question is a resounding “NO”. CAC Grading will be investing MANY millions of dollars in building actual detailed grading sets that will be on public display at all major coin shows! With physical coin grading sets, including WRITTEN descriptions for each coin explaining justification for that grade, it’ll be darn tough to change grading standards up or down in future years!
With subjective grading there will always be close calls that can go either way, along with an occasional error. But based on the above, I strongly believe that CAC Grading standards will be consistent over time.
Does anyone agree?
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 believe, with the entry of CAC as a full grading service, it will tend to strengthen the standards as competition increases. No other TPG will want to be seen as having lower standards - we already see that with the demand for CAC beaned coins commanding higher prices. Their prices will certainly not be cheaper than others. Cheers, RickO
They may be able to speed up turnaround time compared to the others since they will not be holdering bullion and moderns.
What will be the fist coin graded there?
If you had a million dollar plus coin would you send it there or someplace else?
Will be interesting how it all shakes out.
They have their work cut out for them. It wb interesting see how many of them on eBay vs the other 4 TPG around mid year.
Assuming they are accepted as TPG by eBay that makes 5 TPG.
I bet bidding wb fierce for them. I am sure many players here big on big ticket material, the holder sticker game will pay the money (nuk bids), be after CACG material. But how much will they be buried in them especially if the bids go down (recession).
I will need to see a few CACG coins to really evaluate what I think of them. If can get them buying right may pick up a few for inventory and see how they do.
If I wanted the coin to be included in my PCGS Registry set (which I would), I would first send it to PCGS. Once graded, I would then send it to CAC for a CAC sticker. On that latter submission for the sticker, I would ask them in a note to indicate that if it did indeed sticker, do they feel it's an "A" coin or a "B" coin for that PCGS grade?
Then when the time comes to sell the coin out of my PCGS Registry Set, if I was told it's an "A" coin with their sticker, but if graded by PCGS as a whole grade number, I would then send it to CAC Grading to cross at no less than that whole grade number but with a "+". I would then sell the coin!
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
Sounds logic....Thanks.
I don’t make future predictions. The future could be simply some self grading hi tech holder you buy anywhere coin supplies sold the product of a company unheard of yet.
Awhile back they had a thing on Coin Talk called will it sticker? People put in their opinions the results revealed. Some I agreed deserved the sticker some not.
They won't be able to be sold on ebay as PCGS and NGC are, right? They won't meet ebay standards for some time, I would suspect.
bob
The TPG accepted by eBay are ANACS, ICG, PCGS, NGC. I would wager CACG will be one also at some point in time if not the very near future.
I'm thinking they are accepted on day one at eBay. No doubt JA is in talks with eBay as we speak.
That is correct from what I've read. I think @winesteven or another member might have the specifics bookmarked or saved somewhere, but I forget which thread they were posted in. Something like 50,000 coins graded or something like that. It will probably be some time before they make their way onto eBay depending on the volume and turnover rate.
This is interesting to me though, because when filtering coins by grading service you can select "pcgs & cac" or "ngc & cac", so in a way, they already recognize the significance of CAC in the market. I wonder what would happen if someone did list a cac graded coin with photos and just left the "certification" field blank , would the listing be taken down?
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Interesting point @DeplorableDan . My guess though, is that you're really NOT deplorable, lol.
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
Ahh, I see @Goldbully and I must have been typing at the time time and referenced the same observation. As to the specifics, I found the reference on the other forum. JA didn't make any indication that he would negotiate this, but hopefully time alleviates our need to speculate.
@winesteven - I like to think that I'm not! lol
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Edited.
DD beat me to it.
If anyone is interested, here is the source: https://www.ebay.com/help/policies/prohibited-restricted-items/collectible-currency-policy?id=4337
(The criteria are in the "additional information" section.)
Looking at the eBay requirements, the only question is whether eBay waives the 50,000 coin requirement. Since CAC is already widely represented on eBay and has been for years, I'll go with a waiver from day 1. Else, they will meet the 50k requirement quickly.
I believe they have said that they will be grading moderns. I'm hoping that they make it uneconomical to submit moderns in large numbers and/or are stingy with the 69 and 70 grades.
The two top grading services have been bought out by hedge funds. https://www.coinbooks.org/v23/esylum_v23n49a11.html
NGC is subsidiary of Blackstone: https://en.wikipedia.org/wiki/Numismatic_Guaranty_Company#:~:text=NGC is a subsidiary of,New York City hedge fund.
Cac no doubt noticed....
I am wondering how high they will bid the CACG coins when appear in auctions? Are u competitive bidder - Got pocket?