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A question prompted from reading an ad in the GreySheet.
keets
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I was looking through the GreySheet this morning and noticed an ad for CAC next to the prices I was looking for. within the ad it mentions that CAC is a "market maker" and has purchased over $500 million worth of coins. I think we knew both of those things although I never imagined the number to be that high. Also, we talk often about the "premiums" that CAC coins bring and that is what made me wonder --- what does CAC use as a basis for purchasing coins?? Do they have a set percentage past GreySheet?? Do they use their own guide?? Is the premium based on what CAC knows a typical coin will sell for?? Something else??
Curious minds want to know, at least my curious mind does.
Al H.
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While questioning dealers myself on this very question and how it relates to grades I've not had a satisfactory answer.
I should think that any successful coin dealer knows what he should offer for a coin. The more you know about the market and TPG the more successful you will be. Obviously, not all dealers are equal. As I understand the term "Market Makers," it means those folks help set the values of coins. It is certain that we don't as all we can do to influence anything is to balk at the price in hopes it will come down.
Just because you have a CAC coin doesn't mean a CAC dealer will buy it. You actually need to find a CAC dealer that wants your coin. Also, does a CAC dealer need to see the coin before he will make an offer or will he make an offer without seeing the coin first and if so will it be a low ball offer?
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
You will never get a clear answer to your question because there is no "percentage". Savvy buyers "read" the seller and offer the least they think they can get away with.
There is a percentage on sight unseen transactions, always has been. That's where the Bluesheet came from in the first place. You are correct that a sight seen transaction is harder to assess, especially as there is the possibility of a crackout upgrade, etc. But there is a sight unseen number.
All comments reflect the opinion of the author, even when irrefutably accurate.
To whom does CAC sell those coins?
All comments reflect the opinion of the author, even when irrefutably accurate.
Wow... CAC has done $500 million in purchases?? That is amazing... It says that JA established a dealership in the guise of a certification authority.... and it worked!! He gets to evaluate the coins, sticker them (certify grade), then buy the best and sell at a profit. Superb business acumen. Cheers, RickO
Does CAC have a 'buy' price list?
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb, Ricko
Bad transactions with : nobody to date
Many of those prices in the Greysheet are exactly what CAC will pay for a coin. CAC posts their bids on CDN and often those prices become the bid price in the Greysheet. How they arrive at that number they most likely wouldn’t share with people who don’t work for them.
Things have changed a bit since the new format with CAC columns etc. But CAC still posts bids that anyone who is a member of CDN can execute. When I was a member of CDNexchange CAC had one of the largest number of active bids posted.
My Ebay Store
No "CAC DEALER" is required to buy any cac coin. a cac dealer just means that they submit to cac.
In terms what cac will pay for a coin, it really just depends on the coin. CAC posts their bids on cdn exchange for many "widgets" by type. Most generic gold with cac stickers in ms64 and up
ms type in ms64 and up
proof type in pr64 and up
Obviously not every date and grade has a bid next too it. CAC will make an offer on 95% of coins if you call them and demand it (i imagine) but their business is not buying au58 cac barber half dollars (even though they are great coins etc)
CAC first identifies coins that would meet their grading expectations for solid for the grade coins. These thereby get the sticker. This standard is not YOUR standard. It is not MY standard. It IS JA's standard. We can all agree or disagree all we like but at the end of the day, it is his dollar that he is placing on any stickered coin.
Now that the coin is stickered, you can call/email asking for a buy price on such coins. Once again cac is not aggressive on coins that dont fall into their program for what they prefer to buy. Their offer will always be fair and in line with current market, but it may not always be the highest price you can get in town.
Depending on the coin, I have found their offers to be within 5-10% of the posted greysheet bids- many times over, lots more at bid, and few times at small percentages less. Either way, the offer is always in line with current market
The buy price list is posted right next to the failed to cac list.
thinking about the ad, I would imagine that the reference to "CAC buys" may mean dealers in the CAC network which is really nothing to get worked up about.
Hmmmm....I wonder. Aren't "CAC dealers" just dealers with submission privileges? Who would "CAC dealers" be who be reporting purchases back to the home office? [I really don't know.]
All comments reflect the opinion of the author, even when irrefutably accurate.
The CAC front page says "CAC is an active buyer" not "CAC dealers"...for whatever that's worth
caccoins.com/
Wikipedia indicates that the sales figure is from CDN Exchange:
https://en.wikipedia.org/wiki/Certified_Acceptance_Corporation
All comments reflect the opinion of the author, even when irrefutably accurate.