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CACG has jumped the shark ...
BStrauss3
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Remember all those statements about "not grading moderns"?
This hit my email yesterday:
links to: https://www.rarecollectiblestv.com/2023-w-1oz-american-gold-eagle-cac-pf70-dcam.html
-----Burton
ANA 50 year/Life Member (now "Emeritus")
ANA 50 year/Life Member (now "Emeritus")
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And it's only $5795!!!
Worry is the interest you pay on a debt you may not owe.
Wow! Nearly doubling the price from the mint's. Are they stickering their own holders or is that green bean part of their label?
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"jumped" or "eaten by"?
Sigh.......
The CAC sticker appears to be on the outside of the slab (ICBW). I magnified the picture on the link... That asking price is rather high IMO.... Cheers, RickO
If I wasn't trying to make it easy for my kids when they inherit my collection, I'd still have my complete (mostly VF) seated quarter collection in a Dansco.
You can get a PCGS 70 for $3500.
This feels like the opposite of everything CAC had come to represent.
Yeah, but it's not CACG 70! Lol
Just an opinion, but how is CAC grading better than PCGS grading? The whole premise of CAC was to validate someone else's grade on the slab with a sticker. That seemed to be working with almost no overhead. How much does a sticker cost?
Now a plastic factory is established. This can't be good for the environment
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"Coin collecting for outcasts..."
It needs a PCGS sticker!
I see a PCGS one on eBay for $3729 plus ogp. Why in the world world would somebody pay $5795 for the op one? Unbelievable lol. My elevator goes to the top - does yours? Who would even pay that $5795? Gandolf?
Is that even for real, a presale or what? There has been no announcement I know of CACG material being released in the marketplace.
Deleted
I can just see someone buying this grossly overprice coin and a few years later trying to sell it at their coin shop.
Worry is the interest you pay on a debt you may not owe.
No, they haven't jumped anything. This isn't the sticker service (@ricko - the sticker is NOT on the outside of the holder!), and it's exactly what every major grading service does, including our esteemed hosts. It's where the volume and big money are today.
I do remember all the statements about not stickering moderns. I don't remember a single statement about not grading moderns, and doubt any grading service could survive in 2023 without doing so.
Yes, the price is outrageous, but that's RCTV, not CACG. For the record, RCTV has never been known as the low cost provider of anything. Why would this be an exception?
Given the confusion, right on this thread among some of the most knowledgeable collectors around, between a sticker and a slab, they will not doubt have enough confused customers to sell what they have at the price they are asking. This is nothing more and nothing less than CACG's version of our host's First Strike.
For the slab collectors and CAC fanboys among us, it might be the first from CACG. I can definitely see people going for it. And if not, then there will be deals at $4995, $4495, etc. until they sell, likely at premiums to PCGS and NGC, for those of us wondering whether CACG would command a premium in the market. After all, only their slabs have images of their iconic stickers that so many big time collectors worship.
….
Screenshot in the OP says "pre-sale".
Presale - interesting. Do they have to pay upfront or what? Who would even agree to that? Is the seller some insider?
Now I can understand why they are so expensive---they are in the "special pedigree First Delivery CACG holder". I'm sure every serious numismatist will want one.
Worry is the interest you pay on a debt you may not owe.
Historic examples? I don't care where you're from. That's funny.
Great spirits have always encountered violent opposition from mediocre minds.-Albert Einstein
I was thinking such a PQ rarity modern, one of a kind, once in a generation "opportunity" would be worth $9999!!! They're too humble, but still "loveable" by the right telemarketers and collectors. What's next in terms of sales promotions?
Source: https://www.rarecollectiblestv.com/2023-w-1oz-american-gold-eagle-cac-pf70-dcam.html
@NJCoin... Thank you for the clarification.... sure looked like it was on the outside... but pictures can be deceiving - as we all know. Cheers, RickO
I used to know a dealer everybody in the bourse room called Rip. A coin dealer called Rip. A great guy, highly respected, at times good advice. Sometimes other dealers would ask him (walk up deal at their table) “Hey Rip, what’s it worth?” I believe that was a nickname - his real name Ripley. I am sure he’s long deceased. He would be looking down on this smiling at this zany situation, ROFL.
Buy the holder, Not the coin. This is first-gen material here and everyone has been talking about getting a first gen CACG holder.
i like the slab. but the price...i'm out
Hey, it has free shipping! P
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I think that all the confusion is that some missed the OP's point and it had nothing to do with the sticker being on the inside or outside. It is a CAC stickered modern, which they had not done before.
Jim
When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln
Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
So, is the premium that based on the fact that this is these are the first modern coins in CAC holders? I have been coached since my first day to "buy the coin and not the holder", But this is buying the holder at a significant premium.
Personally, I am not good enough to tell the difference between an MS70 and an MS69. For this reason, I avoid MS70 coins. I know I would not be able to differentiate between PCGS's MS70 and CAC's MS70.
I am a newer collector (started April 2020), and I primarily focus on U.S. Half Cents and Type Coins. Early copper is my favorite.
So your saying this is a real CACG coin? Is the seller an insider or what?
Hey it’s Rare Collectibles TV- when Grandma and Grandpa can’t sleep at 3am in their condo in Boca Vista they are buying these as an investment for their grandkids! You’re welcome!
I believe it’s “Del Boca Vista”
“Mrs Seinfeld, please. I am begging you. Put the air conditioner on.“
Yes, I believe that this is a real CACG-holdered coin.
As far as I know, RCTV is a real business.
That would be a great coin for a future COINVAULT release.....
Capitalism....its what's for dinner.
I still scratch my head at this decision to replace a simple examination and piece of decal with a full grading service and encapsulation factory.
I suppose the principals have thought this out.
"Early Releases" may offer more long term potential than "First Delivery"?
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I'm waiting for the (new) 2 point grading system from CACG of 9.9 and 10
Careful. That could be a competitor's plan.
So much misinformation from "advanced" collectors.
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Its Bullion. Plain and simple. Almost all modern bullion coins grade 69 or 70. This is one area of collecting i dont understand very well. Why people pay huge premiums for certified bullion. I can understand wanting it slabbed for protection and ease of viewing. The other area of collecting that I can't get my head around is people paying any premium at all for a Poor 1 coin.
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It’s not the rollout or material I anticipated. Think they will find people pay that money LOL. That’s a $2000 premium over a PCGS 70. Unbelievable. Just think if you racked up 100 + orders on that…..$$$. Plus they collecting pmt now but not ship until 6-8 weeks. Not for me - goodbye and good luck.
Prediction ...
... at some point, with all the new holders, stickers, and marketing hype, ... there will be fatigue and burnout from all the plastic and rainbow stickers that coin collectors will start looking at just the coin again
Agree. I don't understand why they are having such a hard time understanding.
I'm going to list a PCGS 70 today for $20,000 so people can blame our host for grading moderns and having highly priced coins.
Why do people pay stupid money on eBay for the first graded PCGS ms70 or PR70 for mint special issue?
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If that's legit I say what a waste of grading talent.
MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
Due the fact that you haven’t made a coherent point in this thread, or most threads for that matter, I don’t understand what you’re trying to say.
“It’s not the rollout or material I anticipated”
This is not a CACG event and has nothing to do with CACG vs PCGS, this is simply an RCTV marketing approach to peddle more overpriced bullion in fancy holders.
I was not aware the at CACG would get into the modern game, but it doesn’t surprise me and it was probably inevitable. To profit with a grading company you need a steady stream of coins and the easiest way to procure that is to accept moderns.
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Hope you are right. Education can come cheap, but usually not.
Jim
When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln
Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
Plenty of people are going to be unhappy with whatever CACG does. They being said, they are a business and they aren’t the same entity as CAC. It’s naive to think they aren’t going to do the same things to make money that NGC and PCGS do because those are the things consumers want. If consumers didn’t want it and they weren’t willing to pay for it, then they wouldn’t do it.