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If CAC is a market maker where is their market (sell side)
washingtonrainbows
Posts: 463 ✭✭✭
I keep hearing they bought 500 million dollars worth of coins where can I buy some of these?
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I keep hearing they bought 500 million dollars worth of coins where can I buy some of these?
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You can buy them from the dealers that bought them from him. Honestly, retail sucks and I’m sure he’s happy to be a wholesaler
Blanchard & Co. or at least that is my understanding.
One of many
I imagine all the dealers at big shows that have nothing but green bean slabs in their show cases.
How does that work, come again?
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
he sells to many diff dealers. Many of them are retailers. his mark ups are ridiculously low. he is all about preserving market. and helping the dealers too.
he has the most bids of any one anywhere on the systems. Want to sell him a PCGS CAC MS66 Saint? His bid is $3,450.00-for 990!!!! I don't even have a bid right now!
Oh, good, another CAC thread.
CDNExchange is a major buy/sell forum for them.
"he sells to many diff dealers". I'm sure he does and I would be beholding to know how many common collectors he sold to. I guess I'm just not in 'the circle'.
Common collectors? None
What part about being a wholesaler did you not understand?
What part of "common collector" did you not understand? Do you even know the difference between a 'retailer' and a 'coin collector'? How many of these fantastic CAC coins can the new 15 year old collector, just starting out, afford to buy? I be interested in seeing a list of everything Mr. Albanese has done for the 'collector' versus what he has done for the 'retailer' coin dealer.
Uhhhh Ohhhhh!
These threads are really bordering on frustrating. Why rehash this junk over and over? A wholesaler is a wholesaler. The coins eventually trickle down to the retailers who sell to collectors. But you guys probably knew that and just choose to argue for argument sake. Uggh.
I am curious what your experience has been with CAC? Have you ever sent in coins to be reviewed to CAC? How did it go?
No I have never sent any coin to CAC. I have sent to our host and to the other side.
Perfect business sense. "Turnover" is the name of the game .
Great thread!
My YouTube Channel
I think I can answer this one. The coin industry is a vast eco-system of dealers, collectors, marketers, support organizations, wholesalers and academics. Each one of those categories have numerous variants all of which are essential to the survival of our industry. John is part of multiple categories. He makes a market and provides liquidity to significant parts of the market. Sure he does not sell wheat cents to a young collector. However, that is not what he does. What he does, allows other segments of the market to service those clients. A mom and pop shop can buy coins and sell them into the market he supports. By making money there, those small shops can afford the resources to help the children.
He does NOT have a retail outlet. He is wholesale only.
You are making an issue out of nonsense. Do you buy Tide detergent from the manufacturer or your retailer?
A better question would be how many coins or dollars would it take to buy directly from JA.
MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
I'd wager that with the snowballing demand for CAC coins, the lines would be around the block with dealers ready to buy the coins for waiting and eager customers.
A very intelligent comment. So, if it's about the collector it's nonsense but it has to be gospel if it's about the dealer? God help what is left of this hobby.
A delaer can join CDNExchange or any of the other coin exchanges. It'll cost you a couple hundred per month to take a look at the offerings, but there are no transaction fees.
The nonsense part is that you are criticizing a wholesaler for being a wholesaler. My analogy was quite intelligent and apt, I'm sorry that you can't see past your rage. A wholesaler chooses to sell wholesale to dealers because they don't want to be bothered with a retail operation with a lot of small buyers. There are a LOT of them, not just JA and his partners. It is a business decision he has made. I'm not sure why you are angry at him for his business decision.
If we had a separate CAC forum, I would be less likely to foolishly give in to the temptation of reading these threads...
Smitten with DBLCs.
I have a hard time understanding any one who thinks getting another opinion is not a good idea. Further, a second opinion from someone (JA) that everyone agrees is very knowledgeable. Also, no one is forcing you to get a second opinion but apparently you don't like others being able to get that from CAC. Finally, you said you never have sent in any coins to CAC---maybe you should try it. You may change your mind.
@AlexinPA
You are likely unaware of many, many dealers who DO NOT EVER sell directly to collectors. They do wholesale business only. That’s their business model. They supply large quantities of material to other dealers for retail sale. To you and other collectors they are (and always have been) mostly invisible.
Get upset about it if you want but that’s the business. He is allowed to run HIS business any way he wants. If you think that he is anything but a huge advocate for collectors you are ignorant of the facts.
If you want to buy directly from him, call him. The phone number is listed on the website. I imagine if you do a few million $ in purchasing per year he’ll be glad to discuss it with you. If not, he’ll most likely stick to the business relationships that make financial sense to him.
Or you’re just arguing for the sake of arguing, in which case we’re all wasting our time.
Well, every now and then someone posts a coin picture on a CAC thread. LOL
People choose the strangest things to get outraged about
Excellent idea!
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Yeah, why not?
I like the idea of cac and all but still like the idea as of learning to grade coin. after that if you want submit the coin to cac. jmo
So...I imagine sellers/dealers and buyers/collectors send coins to CAC and JA may buy some of those coins at reasonable prices that satisfy the other party. But to group those coins for a wholesale sale, it seems JA would need to take a 10% loss or whatever to sell at wholesale so the buyer of the lot can resale the coins individually back to the very kind of people who sold the coins to him in the first place and make a profit? I mean, JA would need to sticker a lot of dreck so it's thrown in with the wholesale lot if he's to profit on the more valuable coins, right? Can anyone here say, they have sold to JA and sometime later, they saw their coin at a dealer's table and what was the asking price?
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
Seriously love these CAC threads - this will never die
It does NOT work that way. If you send in coins to be CACed. They get stickered or not. They don't get bought.
JA posts wholesale buy prices on CDNExchange. If you then offer the coins to him, he will buy them at that price. He also lists sell prices on CDNExchange where you could buy. It's a normal bid/ask marketplace.
There are many CACcoins available to buy at shows, eBay (about 7100 items per recent search), auction houses GC, Heritage, etc. plus dealer ads in numismatic publications.
I have a few CAC coins myself and have sold a number both online line and at shows. I recently offered a 1937-D PCGS 66 CAC Oregon to a person at a recent show $360 which is around CPG for the CAC 66 issue.
Astute players are quietly getting non CAC coins caced where there is a material increase in value for CAC (using CAC CDN bid or simply cost plus to markup and retail to customers). An opportunity to find material per above - window may be shrinking as more players enter hunt. If
My focus is finding nice coins that will sticker (Nice A&B material), CAC coin deals (auction, etc) to flip to my customers.
Apparently they have closed collector memberships to CAC.
Guessing you need a dealer to submit?
BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out
CAC is not accepting new Dealer or Collector Memberships at this time.
John Albanese, founder and president of the company explains: “We don’t want to get completely overwhelmed. We’ve kept our prices friendly and our turnaround times favorable, and we want things to stay that way. Capping our membership for at least the rest of the year will give us a chance to consolidate our growth and assess where we’re headed in the future.”
When membership is re-opened, we will post a notice on the site.
Stupid question... Is JA the sole grader?
BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out
No, CAC has three other graders.
Andrew Blinkiewicz-Heritage
Getting off track, time for another pic.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Thank you!
BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out
CCCCAAAACCCC
Or is it CCCCAAAACCCC
CAC is essential ...
See http://www.doubledimes.com for a free online reference for US twenty-cent pieces
That looks psychoactive astrorat!
I imagine that with enough time, there will be all sorts of extra stickers that one could put on their coins to show exceptionalism. Sort of like the five star general whose whole front of the uniform has medals and awards.
Buyers will then demand the five-star general coins.
Sorry - I should have realized from your posts that you’re 15 years old. My bad
I am waiting for the biochemists to chime in ...
See http://www.doubledimes.com for a free online reference for US twenty-cent pieces