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Do major auction houses send consignments to CAC before they place them in auctions?
tommy44
Posts: 2,195 ✭✭✭✭✭
I've purchased 18 or so non CAC PCGS and NGC graded coronet half eagles in the last six years from Heritage, Stacks and Goldberg. Most are higher grade and some look amazing to me for the assigned grade. If I decide to send some coins to CAC for review am I wasting my time sending any of these?
it's crackers to slip a rozzer the dropsy in snide
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I don't know but will await an educated answer here
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Great Collections has a box you can check to send all coins to CAC or let them decide for you, otherwise you can assume that they don't.
Look at their online submission forms if available.
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Doesn't CAC have a web site to check if a cert numbers been there or not?
Sure be nice if they had a dicussion forum to handle all the CAC questions.
According to this web page they do not keep cert numbers of coins that did not get stickered..... http://www.caccoin.com/look-up-your-coins/ for the following reason.
"Furthermore, CAC wishes to protect the interest of an owner of a coin that has been reviewed by CAC but did not receive a sticker. Therefore, CAC does not want to compromise the value of such a coin by disclosing a negative review by CAC"
it's crackers to slip a rozzer the dropsy in snide
no way HA or Stack's send ALL consigned coins to CAC. Not realistic, not worth it.
You are slightly misunderstanding what CAC is saying with that statement.
They DO keep all the numbers...they do NOT list them on their website if they didn't sticker.
Ie.....If I sent in a coin, it didn't sticker, and then you ended up with that coin, it wouldn't come up on the CAC site, BUT, if you sent it to them, they would have a record that it was already sent in. Trust me on this.
So, they only show, for external look up, the coins that DID sticker as they don't want people to be overly negative on coins that didn't sticker.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
Some auction houses do send major collections to CAC. I have never considered a CAC sticker as much value in determining which early american copper I would want for my collection.
I think CAC can be helpful in determining which coins out of many available are solid for the grade: As an example, if you were looking for an 1878-CC PCGS MS65 morgan dollar out of the over 2100 so certified, it would be nice to have the assurance of a CAC sticker that the one you are considering is one of the better ones available.
On the other hand, if you are looking for a 1794 S-48 "Starred Reverse" large cent for a PCGS registry set, and your budget is less than $100K, you are limited to one, maybe two, fine to VF coins or settling for a G-VG with most of the stars worn away. At that point, whether John Albanese thinks the coin is "solid for the grade" is immaterial. If I was looking for a starred reverse today, I would not care whether PCGS rendered a grade of 10, 12, 15 or 20 on such a coin as it is what it is and a number on the holder does not change it. The vast majority of these EAC rarities are known, photographed and ranked by people much more expert than me, such as Del Bland and Bill Noyes.
Impossible to know if they were previously submitted to CAC by the auction house...even if they didn't pass the first time...there is a chance they might pass upon resubmission...
I think auction houses are reluctant to submit major collections to CAC because then it is obvious which ones passed and which ones didn't...the latter getting lower prices...they'd rather keep us guessing
I don't know if they do, but I do before consigning them (usually).
I can't speak for the others, but I do know that Scotsman doesn't submit to CAC or at least it didn't a couple of years ago as per James Garcia. I bought a couple of uncirculated Philadelphia minted 1850s quarter eagles and a silver PL Seated Quarter from Heritage that CACed. I don't know about Stacks-Bowers or Legend (although given the mentality of its principals, it would be shocking if the latter didn't).
I believe one of the principals of Legend Numismatics is an investor in CAC so they are naturally proponents of the CAC stickering concept.
I make the assumption when bidding on Legend Auction lots that a non-CAC coin has failed to gain a sticker
Thanks to everyone for responding so far.
Reading the comments so far it looks like the only way someone like me will ever know if a coin I think is "A" or "B" quality for the assigned grade will sticker would be to submit and wait for the results.
it's crackers to slip a rozzer the dropsy in snide
The turnaround time is very fast and usually a week or less.
When you tell Great Collections to send in one of your consignments, it's $13.50 up to 10k and $27.00 over that.
And the postage is on their dime.
Hard to beat deal.
(plus I just got a check from them today.)
It is up to the seller at HA if the coin or coins are sent to CAC before going to auction. I purchased a NGC gold dollar from the Newman collection that did not have a CAC sticker, but many of the Newman collection coins had stickers, so most likely the coin went to CAC and failed.
As posted on here, we do it by request of the consignor - some clients say "yes" or "no" and others leave it up to us to decide. We base our decision on the quality of the coin and the estimated upside as to whether we send in. It's surprising how some consignors don't want to incur the extra expense or wait the extra 10 days to have CAC reviews.
Owner/Founder GreatCollections
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Seems to be the case. Perhaps one day Toto will pull back the curtain a bit.