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Why does CAC only sticker some of PCGS' perceived grading mistakes?
Coinstartled
Posts: 10,135 ✭✭✭✭✭
If CAC believes a coin to be under graded by PCGS (or NGC,) it receives a gold sticker. If CAC thinks that the coin it is over graded, it receives no sticker.
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It probably has something to do with the sorts of coins JA wants to make a market in.
Well, let's say they sticker overgraded coins with a black sticker. How long do you think the owner is going to LEAVE that black sticker on the holder? We'd have all kinds of threads here about, "Best way to remove a black sticker?"
More important would be an open database of failed coins. One could of course crack out and resubmit but at least an attempt at transparancy would be instituted.
I think the "open database" logic has been debated over and over again here. Some think it would be good, some think it would be a boon to the TPG's, since resubmissions would sky rocket!
From the CAC point of view, I think they just open themselves up to significant criticism and complaints...and maybe even lawsuits. "I can't believe someone thinks they have a right to disparage MY coin that way! Publishing their negative opinion of my coin is completely unfair! I can't sell the dang thing!"
Personally, I think CAC is probably doing a pretty good job of riding the fence. They are doing the "good" they think is required, without adding any "bad" to the hobby.
What do you think would happen to the volume of coins submitted to CAC if the submitters realized that any failed evaluations would have a permanent, independent, online record of the attempt? Regardless, the real and implied threat of legal action would snuff the idea from the get-go.
In honor of the memory of Cpl. Michael E. Thompson
It's human nature: people will pay extra for positive results yet feel jipped over negative ones.
We should have a 3rd company place a sticker to verify the cac grade that verified the pcgs grade.
This "coin collecting" is starting to remind me of 80's baseball cards and 90's beanie babies. It's out of control, how long till the bubble pops.......
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
Probably about as long as I leave the green stickers on.
If CAC published a list of your coins that didn't meet their standards, what would be a/the basis for legal action?
If CAC published a list of my coins that did not meet their standards then the list would have no entries.
Regarding the submissions of others; I don't know. However, in the society that we live in one can be assured that litigation, or the threat of litigation, might be quite common, expensive and resource consuming.
In honor of the memory of Cpl. Michael E. Thompson
I'm soooooooo glad I have WAY more bullion than numismatic.
or special counsel overseas special counsel?
this is a ridiculous topic. CAC has saved many people from very bad fates.
Waiting for its biggest critic-Bill Jones to add his negative 2C
That's saying CAC has saved many people from PCGS & NGC.
Wow! you're finally making some sense, even if by accident.
Bill Jones is not CAC's biggest critic. There are alot of folks out there who are critics - they just don't post their view here. Bill just raises interesting points in the discussion around CAC. If we had one-sided discussion here on all topics, we would all be worse off. Kudos to Bill for raising key issues about the CAC market and their grading.
Just because a coin is not accepted by CAC, it does not mean it is overgraded. They have said that themselves. It simply means it is a coin they don't want to buy according to their expectations.
I for one would be pretty darn upset if CAC kept a database of my 'failed coins'. All it means is that CAC does not want to make a market in those coins they don't bean. Too many read too much into a not passed coin. I could post 10 coins here, 5 passed, 5 not passed, and I bet all/most of the expert graders here would not be able to tell which passed and which did not without some mistakes. Grading is subjective, grading is subjective, even at CAC.........
PCGS & NGC & ANACS saved many people from very bad fates for several decades now. Caveat Emptor, learn to grade, learn about surfaces (CAC is big on surface quality) or get multiple opinions on every coin. Bill Jones, for example, saved me from a $5K mistake on a coin at FUN. Thank heavens for Bill Jones.
Best, SH
I’m pretty sure CAC does maintain, but not publish, a database of reviewed and rejected coins. To not do so would complicate their MO. Let’s hope that thing never gets hacked and leaked.
To correct my above post - I would be pretty darned upset if CAC gave access of their failed database to everyone. They do keep a list of failed coins. Hacked and leaked would be a serious problem for them and the numismatic market.
Best, SH
It would be the equivalent of Archie Bunker's treatment of those not like him, no one wants that these days.
The Black List
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Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
CAC does a very good job of not stickering doctored coins---especially gold coins
Don’t count on the TPGs or CAC, learn to grade your own collection. Makes the hunt much more enjoyable. Jmho