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Do all of the major auction houses send coins to CAC before auctions?

VasantiVasanti Posts: 448 ✭✭✭✭

And can it be assumed that a non-stickered coin at Heritage, GC or Stacks has been rejected?

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    ToreyTorey Posts: 132 ✭✭✭

    Not without permission, so no.

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    neildrobertsonneildrobertson Posts: 1,181 ✭✭✭✭✭

    I know of many coins purchased from those outlets in the past couple years that have been subsequently sent to CAC and stickered. Do they send to CAC themselves as well? Sure. I would expect most coins above $10k to have been to CAC at some point.

    IG: DeCourcyCoinsEbay: neilrobertson
    "Numismatic categorizations, if left unconstrained, will increase spontaneously over time." -me

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    DeplorableDanDeplorableDan Posts: 2,553 ✭✭✭✭✭

    They all do it upon request, and I would assume that if the consignee has a high value coin that they don’t elect to send, the auction houses would try to encourage a cac trip if the coins never been there.

    Most coins that are worth several thousand dollars or more have made the trip at least once. It would be fiscally irresponsible not too, why would anyone want to money on the table?

    I did buy an 1861 DE in 58 for around 3000 including bp. Subsequently sent it in and it actually beaned, so it does happen occasionally. That seller left at least 500 on the table imo

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    coinbufcoinbuf Posts: 10,769 ✭✭✭✭✭

    As others have said the auction houses can and do send consignment coins to CAC. But only the coins they feel are very good candidates to sticker, so not every coin goes, and some sellers make the call to not have coins sent if they want a quick turnaround.

    My Lincoln Registry
    My Collection of Old Holders

    Never a slave to one plastic brand will I ever be.
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    CatbertCatbert Posts: 6,604 ✭✭✭✭✭

    If one is in a hurry to get one's coins listed, some consignors may not request that service.

    As a buyer, if I see a coin with some significant value doesn't have a sticker, I assume it's already been reviewed and failed.

    "Got a flaming heart, can't get my fill"
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    skier07skier07 Posts: 3,697 ✭✭✭✭✭

    Auction houses only send coins to CAC with the sellers permission. If submitting to CAC through an auction house there is a charge for both stickered and nonstickered coins. Some sellers regardless of a coins value or the upside potential with a sticker don’t want to spend any additional money.

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    winestevenwinesteven Posts: 4,077 ✭✭✭✭✭

    @Catbert said:
    If one is in a hurry to get one's coins listed, some consignors may not request that service.

    As a buyer, if I see a coin with some significant value doesn't have a sticker, I assume it's already been reviewed and failed.

    Although we may not be correct, I make that same assumption, so I will not bid on the coin, right or not. I’m sure there are many others that think this same way, so that consignor (or their heirs) are getting fewer bidders than they would have IF that coin indeed merited a CAC sticker but didn’t have one!

    Collectors like @DeplorableDan and others with a keen eye (not me) can do very well by buying high value coins with no CAC stickers and then getting the sticker applied after their purchase!

    A day without fine wine and working on your coin collection is like a day without sunshine!!!

    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
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    Wahoo554Wahoo554 Posts: 1,088 ✭✭✭✭✭

    No. The Toro collection that sold via Heritage last year is a good example of a large gold collection that apparently was not sent to CAC. Many of the Toro coins were subsequently stickered shortly after the auction.

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    DeplorableDanDeplorableDan Posts: 2,553 ✭✭✭✭✭

    @winesteven said:

    @Catbert said:
    If one is in a hurry to get one's coins listed, some consignors may not request that service.

    As a buyer, if I see a coin with some significant value doesn't have a sticker, I assume it's already been reviewed and failed.

    Although we may not be correct, I make that same assumption, so I will not bid on the coin, right or not. I’m sure there are many others that think this same way, so that consignor (or their heirs) are getting fewer bidders than they would have IF that coin indeed merited a CAC sticker but didn’t have one!

    Collectors like @DeplorableDan and others with a keen eye (not me) can do very well by buying high value coins with no CAC stickers and then getting the sticker applied after their purchase!

    Steve, you're too kind. I got lucky with that one and probably couldn't duplicate that result again if I tried. Appreciate the compliment, though :)

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    rickoricko Posts: 98,724 ✭✭✭✭✭

    With the current market indicating usually significant premiums for CAC stickered coins, I would think most submitters would want their coins sent for approval. However, lack of a sticker does not automatically mean it has failed at CAC. Cheers, RickO

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    winestevenwinesteven Posts: 4,077 ✭✭✭✭✭
    edited December 3, 2022 8:38PM

    @ricko said:
    With the current market indicating usually significant premiums for CAC stickered coins, I would think most submitters would want their coins sent for approval. However, lack of a sticker does not automatically mean it has failed at CAC. Cheers, RickO

    Not automatically, but in cases where having a CAC or not can mean the difference in market value of "many" hundreds of dollars, you'd then figure MOST of the owners who are putting their coins up for sale would spend the few dollars needed to see if their coins merit a CAC. I agree not all.

    Separately, we often read on this forum about those that won't send their coins to CAC "until they're ready to sell", so that solidifies my point even more. If those collectors died before having a chance to sell, then MAYBE they left instructions for their heirs on whom to contact for a sale, along with instructions for having those auction houses or other venues of sale submit their worthwhile coins to CAC before the sale. And for those that don't...... oh well, they clearly left money on the table for the coins I described above. YES, not all coins that will be worth "many" hundreds of dollars more with a CAC sticker will have one.

    A day without fine wine and working on your coin collection is like a day without sunshine!!!

    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

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