Something highly unusual at a coin show
GotTheBug
Posts: 1,629 ✭✭✭✭✭
Yesterday I attended the Venice, FL show. This isn't a show report as this show is very small and I didn't stay long. As a side note, congratulations to the Venice coin club on their 60 years in existence.
Anyhow, I saw a PCGS-holdered coin with the green CAC sticker scraped off! I forget what the coin was but was very surprised to see the sticker gone, and I am 100% sure that it wasn't from wear, as some of the scraping marks were visible outside of the outlines of the bean, with green flecks remaining in the residue from that familiar oval pattern.
This is tantamount to instantly eliminating 20% or more of the coin's retail value, given CAC premiums these days. I'm still scratching my head on this one. It seems like coin heresy....
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Did you ask the coin dealer why the CAC sticker was scraped off?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
There are rare occasions in which sellers feel that a green CAC sticker can lower, rather than increase the value of a coin. If the coin appears to be obviously under-graded and perhaps worthy of a gold CAC sticker, a green sticker can be perceived as a negative. Of course, in such a situation, if the seller's going to remove the sticker, he should do a good job of it.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
When purchasing new coins I used to run the certs through the CAC database. Over the years I think I found two that were stickered at one time. Of course, this was years ago when it was still relatively new.
Even so, there are still loads of people who don’t know or don’t care about them.
I either submit raw, or get existing certs reholdered. I have a handful that were CAC but have no plans to get them rebeaned. I couldn't care less about CAC beans. You could still run the cert though and find out.
Hmm........ Let's say for some reason in the future you have to sell. Let's say you walk up to a dealer table to sell, you claim your coins are CAC. Dealer says 'where are the stickers?' You say 'check the CAC coin look-up'. Dealer does and says 'hmm, that is strange'. You explain. Dealer says 'without stickers, I can only offer you 10% back of bid, maybe there is a glitch in the CAC system right now'...............
Hmm............................
Very kind of Mark to look for a rational explanation. IMO just someone along the line who is at the far end of the "I hate stickers" spectrum.
There are some collectors who don't like CAC stickers, so they scrape them off. I leave them because it's like having a coin in slab.
There are a few coins and medals that I would prefer out of the holder, but I won't crack them. The reason is I am old and the coins will be sold some time probably after I'm gone. Getting them holdered again would be an unnecessary expense, and there is always the chance that you can get a lower grade.
I considered that possibility, as well and almost included it in my previous post. I even envisioned someone acting all macho, saying, “I don’t need this stinkin sticker to help sell my coin” and scraping the sticker off.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Confusing. If you don't like the green bean - don't buy a coin that has one.
USN & USAF retired 1971-1993
Successful Transactions with more than 100 Members
Perhaps it's time to go into the sticker removal business.
I sold a Morgan dollar a while back like this, which I thought would be an upgrade candidate and a profitable flip. I bought it with the oval sticker residue on the slab and removed it before I sold it, but did check to see if the sticker that was there was indeed a CAC. It was in their DB as having received a green one, which is probably why it was removed. That was disappointing, but I listed it on eBay with the previous green bean disclosed in the listing. Fortunately, I recouped my costs...
Not confusing. It’s usually a lot easier to remove a sticker you don’t like than to find a coin that you do like.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
My money is on a common coin/slab as the host, I'm in the "macho man" camp. The fact the he (had to be a guy) messed up the slab convinces me. The Treasure of the Sierra Madre it's not.
I'm not concerned about all that. I used to have my seated quarter collection in a Dansco. I only started getting them certified (and now upgrading) to make it easier for my kids to sell when the time comes. They can get them rebeaned if they want.
the guy just lost it after seeing all the CAC threads
Those stickers that are on bananas are hard to get off sometimes too🙈
Lafayette Grading Set
I have found that any sticker that does not self-distruct can be easily removed without leaving a trace.
Perhaps it was a different company. I have seen "Littleton Select" stickers in the same oval shape. Would make sense why it was scratched off, probably should have finished the job though.
Perhaps the dealer picked it up from all or nothing deal on lot or collection. Without the sticker good luck getting anything extra. Maybe they can look it up but so what.
If it’s some big ticket coin w huge CAC premium - you get good discount then get it reholdered, submit to CAC they would sticker it?
No. It wasn't anything that I was interested in.
The fact that I can't even remember what coin it was lends credence to your theory.
I've never seen a Littleton select sticker. Are they green like CAC?
Something like this
I took the stickers off my OGH dollar set. It looks cleaner without them. When I go to sell them I’ll have them put back on I guess.
So, buy the holder, not the coin?
Joe.
If common coin, the condition of the holder comes into play.
Could have been another sticker- not cac.
It's easy enough to check the slab serial number against the CAC data base on their web site.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
For everyone that loves the holder and not the sticker, I've got some great generic holders (eBay wonders) w/o sticker residue, and you can have them just for s/h. Call me at BR549.
USN & USAF retired 1971-1993
Successful Transactions with more than 100 Members
That's a myth, check out my collection.....
it's crackers to slip a rozzer the dropsy in snide
The yellow shirt is a nice touch to hide the mustard stains.
Gift from a forum member.
Tropical if not topical.
I just got this set back from CACG today. Note: The green oval CAC is a logo printed on the label.
USN & USAF retired 1971-1993
Successful Transactions with more than 100 Members