CAC got it wrong here. Even from the pics I can see wear.
"Seeing" wear on UNC coins is one of the shortcomings of the coin hobby. We've all been there, and "seen" it., even when it's not there. In any event, market grading (ie market pricing) has almost made the issue moot.
Having technical wear, does not disqualify numerous types of US Coins from achieving a Mint State TPG grade. For example, it's common to see wear on MS63/MS64 half dollars, even up to around the 1860's. No comment on whether this is good or bad. It's just how it is.
I have a beautiful PCGS CAC 1880-S MS64 Dollar that by far is an A coin which I bought from probably GC over a year ago paying $85 - have not been able move it for any decent margin above that.
That market has continued to slip. I bid on a high end 1880-s semi-PL MS64 OGH Morgan at GC 3 weeks ago that I graded 64++. Very clean cheek and a fully frosted Cameo Miss Liberty. A borderline 66 reverse. No sticker? Even better. I put in a "stink" bid of $58 and almost got the coin. Someone else got it at $2 higher ($66 all in)....link below. With lower end MS65's now falling into the $90's at times, there's no reason to be trying to get $85 for a MS64 unless it's PL or a semi-toner. Average to lower end 64's are bringing $44-$54 at GC.
I like CAC, but they are not accepting new memberships, and I am not an ANA member. Several of my purchases were made during the PCGS old green holder era, so they have never passed through the hands of CAC. Therefore, I have to find an "authorized dealer" who will ship my coins to CAC, but I don't have any connections with these dealers. What do they charge for this service, and are they trustworthy?
I suspect there are other collectors like me who are uncomfortable with this process.
@veryfine said:
I like CAC, but they are not accepting new memberships, and I am not an ANA member. Several of my purchases were made during the PCGS old green holder era, so they have never passed through the hands of CAC. Therefore, I have to find an "authorized dealer" who will ship my coins to CAC, but I don't have any connections with these dealers. What do they charge for this service, and are they trustworthy?
I suspect there are other collectors like me who are uncomfortable with this process.
Whether they are trustworthy needs to be established independently of whether they are affiliated with CAC or any other organization.
Comments
"Seeing" wear on UNC coins is one of the shortcomings of the coin hobby. We've all been there, and "seen" it., even when it's not there. In any event, market grading (ie market pricing) has almost made the issue moot.
Having technical wear, does not disqualify numerous types of US Coins from achieving a Mint State TPG grade. For example, it's common to see wear on MS63/MS64 half dollars, even up to around the 1860's. No comment on whether this is good or bad. It's just how it is.
That market has continued to slip. I bid on a high end 1880-s semi-PL MS64 OGH Morgan at GC 3 weeks ago that I graded 64++. Very clean cheek and a fully frosted Cameo Miss Liberty. A borderline 66 reverse. No sticker? Even better. I put in a "stink" bid of $58 and almost got the coin. Someone else got it at $2 higher ($66 all in)....link below. With lower end MS65's now falling into the $90's at times, there's no reason to be trying to get $85 for a MS64 unless it's PL or a semi-toner. Average to lower end 64's are bringing $44-$54 at GC.
http://www.greatcollections.com/Coin/458258/1880-S-Morgan-Silver-Dollar-PCGS-MS-64-OGH
I like CAC, but they are not accepting new memberships, and I am not an ANA member. Several of my purchases were made during the PCGS old green holder era, so they have never passed through the hands of CAC. Therefore, I have to find an "authorized dealer" who will ship my coins to CAC, but I don't have any connections with these dealers. What do they charge for this service, and are they trustworthy?
I suspect there are other collectors like me who are uncomfortable with this process.
FFS... I thought this thread had died a worthy death....and here it is at the top of my feed again.
Latin American Collection
Whether they are trustworthy needs to be established independently of whether they are affiliated with CAC or any other organization.