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A CAC disclaimer that surprised me.

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  • jmlanzafjmlanzaf Posts: 36,617 ✭✭✭✭✭

    @MFeld said:

    Again, I'm not feeling (or sensing from others) a lot of vitriol in this thread. There's really no shame in wanting or needing "help" from CAC or PCGS, but I still maintain the hobby is more rewarding (and often, less expensive) when the collector has a good handle on discerning (in some measure) quality by themself.

    I agree that this thread is largely free of vitriol, but many other threads have been “full of it”. 😉

    I also agree that the hobby can be more rewarding and less expensive if collectors are able to discern quality on their own. One of the problems is that many aren’t nearly as able to do so as they think. And by the time they find out, they’ve endured a very painful and costly lesson.

    Clearly the ban hammer has made us a friendlier group...;)

  • keetskeets Posts: 25,351 ✭✭✭✭✭

    I think part of the the vitriol can be explained by the insecurity and/or pride of some individuals, who insist that they don't need any help.

    and I don't think that's it at all.

  • CoinJunkieCoinJunkie Posts: 8,772 ✭✭✭✭✭

    @keets said:
    I think part of the the vitriol can be explained by the insecurity and/or pride of some individuals, who insist that they don't need any help.

    and I don't think that's it at all.

    Well, to bring things full circle, I imagine Larry Shepherd's vitriol (as it were) is based primarily on differences between what he likes to sell and what CAC likes to sticker, although there may be a bit of pride in the mix.

  • keetskeets Posts: 25,351 ✭✭✭✭✭

    here's the thing, with a long thread like this and many participants it's easy for stuff to get taken out of context, hence, Mark's impression and post.

    take my "Lazy" post --- I regret making it and have decided to stop defending it, but if you look at the actual post it was directed at a specific comment about a very specific thing. the rest is History. :p

  • MFeldMFeld Posts: 14,870 ✭✭✭✭✭

    @keets said:
    I think part of the the vitriol can be explained by the insecurity and/or pride of some individuals, who insist that they don't need any help.

    and I don't think that's it at all.

    I'm confident that's part of it AND that there are other reasons that apply to other individuals.

    Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.

  • No HeadlightsNo Headlights Posts: 2,105 ✭✭✭✭✭

    I love the boards. But one unfortunate side effect is that the anonymity of the boards allows a few people to say stuff they would never say in person. But it's a minor issue in my opinion. I just choose to ignore those select few people without common courtesy.

  • GazesGazes Posts: 2,315 ✭✭✭✭✭

    What is interesting about these threads on CAC is you hear---its one guy's opinion, i dont need help picking coins, i dont want to pay a premium for a sticker, etc. What is telling is you almost never hear that CAC gets it wrong. That is because CAC does what they say they are going to do----sticker coins solid for the grade. Once that happens it is up to the market to determine price.

  • jmlanzafjmlanzaf Posts: 36,617 ✭✭✭✭✭

    @Gazes said:
    What is interesting about these threads on CAC is you hear---its one guy's opinion, i dont need help picking coins, i dont want to pay a premium for a sticker, etc. What is telling is you almost never hear that CAC gets it wrong. That is because CAC does what they say they are going to do----sticker coins solid for the grade. Once that happens it is up to the market to determine price.

    Except that is the thrust of the OP disclaimer. JA is wrong on copper-.

    [Not saying I agree, but that does seem to be the thrust of the original rant. ]

  • CoinJunkieCoinJunkie Posts: 8,772 ✭✭✭✭✭

    @Gazes said:
    What is interesting about these threads on CAC is you hear---its one guy's opinion, i dont need help picking coins, i dont want to pay a premium for a sticker, etc. What is telling is you almost never hear that CAC gets it wrong. That is because CAC does what they say they are going to do----sticker coins solid for the grade. Once that happens it is up to the market to determine price.

    CAC renders an opinion about slabbed coins based on their particular standards and biases. By definition, they can't "get it wrong". There have been plenty of examples posted here over the years of marginal (or ugly) coins that got stickered and nice ones that didn't. CAC sometimes rejects coins because of an old cleaning, yet happily stickers recently dipped coins. That is entirely their prerogative even if it doesn't always align with my particular preferences.

  • MasonGMasonG Posts: 6,262 ✭✭✭✭✭

    If their opinion and preferences weren't aligned (for the most part) with the market, they'd be mostly ignored.

  • CoinJunkieCoinJunkie Posts: 8,772 ✭✭✭✭✭

    @MasonG said:
    If their opinion and preferences weren't aligned (for the most part) with the market, they'd be mostly ignored.

    No argument there. OTOH, the main competitor to PCGS is a viable enterprise, meaning that the market doesn't find them a total joke, and yet I personally have almost no use for them.

  • david3142david3142 Posts: 3,600 ✭✭✭✭✭

    @CoinJunkie said:

    @Gazes said:
    What is interesting about these threads on CAC is you hear---its one guy's opinion, i dont need help picking coins, i dont want to pay a premium for a sticker, etc. What is telling is you almost never hear that CAC gets it wrong. That is because CAC does what they say they are going to do----sticker coins solid for the grade. Once that happens it is up to the market to determine price.

    CAC renders an opinion about slabbed coins based on their particular standards and biases. By definition, they can't "get it wrong". There have been plenty of examples posted here over the years of marginal (or ugly) coins that got stickered and nice ones that didn't. CAC sometimes rejects coins because of an old cleaning, yet happily stickers recently dipped coins. That is entirely their prerogative even if it doesn't always align with my particular preferences.

    They can still get it wrong with respect to consistency. Take a coin that fails to sticker at 65 but stickers at 66. One of those is clearly wrong by whatever their standards are. Same for a green bean on a 66, upgraded to 68 and a green bean again. (I have seen examples of each of the above).

    Obviously they do a good job or people wouldn’t care much but they make mistakes too - another reason why it is important to learn for yourself!

  • keetskeets Posts: 25,351 ✭✭✭✭✭

    examples have been posted about coins that CAC gives a green sticker to, then the owner upgrades one point and the coin gets another green sticker from CAC. you can call that what you want, I call it JA being susceptible to the same things everyone is when it comes to grading coins.

  • keetskeets Posts: 25,351 ✭✭✭✭✭

    Anyone who thinks CAC's evaluations are inconsistent can ignore the stickers and not send their coins to them for consideration.

    wow. :)

  • jmlanzafjmlanzaf Posts: 36,617 ✭✭✭✭✭

    @MasonG said:
    Anyone who thinks CAC's evaluations are inconsistent can ignore the stickers and not send their coins to them for consideration.

    Problem solved. B)

    Not only that. They can sit back and laugh at all the buffoons overpaying for mislabeled junk. Yet, somehow, they don't ever seem to laugh...

  • MasonGMasonG Posts: 6,262 ✭✭✭✭✭

    @keets said:
    wow. :)

    Now, how could anyone argue with that? :#

  • BaleyBaley Posts: 22,663 ✭✭✭✭✭

    Gawd, I'd give anything to be surprised by something.

    Liberty: Parent of Science & Industry

  • csdotcsdot Posts: 707 ✭✭✭✭

    Looking at the dealer's posted disclaimer, it could be this dealer is in a state of denial over the fact that CAC is now demanded by the market. Could be he is irritated at being told over and over that his non-CAC coins (even the ones he had bought cheap from a widow because they were raw and he had them slabbed - and therefore he knows never went to CAC) are going to be judged as having failed to achieve a bean because that's what today's market demands?

    I had a dealer once tell me that CAC is not something he values on a coin because he observed another dealer with a roll of bean stickers putting them on the coins. This was 5-10 years ago when I was first hearing about CAC, so maybe the dealer saw something; or maybe he was confused about what stickers the other dealer was applying; or maybe he just made up this story to explain why he wasn't going to assume the added cost of CAC for his inventory.

  • csdotcsdot Posts: 707 ✭✭✭✭

    It wouldn't stop me from looking at his inventory. If a coin spoke to me and the price was right, I would still buy it, even without a bean.

  • jmlanzafjmlanzaf Posts: 36,617 ✭✭✭✭✭

    @csdot said:
    Looking at the dealer's posted disclaimer, it could be this dealer is in a state of denial over the fact that CAC is now demanded by the market. Could be he is irritated at being told over and over that his non-CAC coins (even the ones he had bought cheap from a widow because they were raw and he had them slabbed - and therefore he knows never went to CAC) are going to be judged as having failed to achieve a bean because that's what today's market demands?

    I had a dealer once tell me that CAC is not something he values on a coin because he observed another dealer with a roll of bean stickers putting them on the coins. This was 5-10 years ago when I was first hearing about CAC, so maybe the dealer saw something; or maybe he was confused about what stickers the other dealer was applying; or maybe he just made up this story to explain why he wasn't going to assume the added cost of CAC for his inventory.

    There is a digital CAC inventory on the CAC site. You could not pass off a fake sticker as real to anyone with a computer and any rudimentary intelligence.

  • Cougar1978Cougar1978 Posts: 8,781 ✭✭✭✭✭
    edited July 9, 2020 7:11PM

    Cac Players:

    What is the biggest premium you have paid for a CAC coin - pct wise, CAC bid vs non CAC bid or overall est pct premium vs the non CAC issue? Date / denom / type / grade please share. Am curious.

    If you want you can use the PCGS MV as a basis.

    Investor
  • cameonut2011cameonut2011 Posts: 10,181 ✭✭✭✭✭

    @jmlanzaf said:

    @csdot said:
    Looking at the dealer's posted disclaimer, it could be this dealer is in a state of denial over the fact that CAC is now demanded by the market. Could be he is irritated at being told over and over that his non-CAC coins (even the ones he had bought cheap from a widow because they were raw and he had them slabbed - and therefore he knows never went to CAC) are going to be judged as having failed to achieve a bean because that's what today's market demands?

    I had a dealer once tell me that CAC is not something he values on a coin because he observed another dealer with a roll of bean stickers putting them on the coins. This was 5-10 years ago when I was first hearing about CAC, so maybe the dealer saw something; or maybe he was confused about what stickers the other dealer was applying; or maybe he just made up this story to explain why he wasn't going to assume the added cost of CAC for his inventory.

    There is a digital CAC inventory on the CAC site. You could not pass off a fake sticker as real to anyone with a computer and any rudimentary intelligence.

    Tell that to the slab/coin counterfeiters that rip valid serial numbers from Heritage and Stacks-Bowers.

  • cameonut2011cameonut2011 Posts: 10,181 ✭✭✭✭✭

    @MasonG said:
    Anyone who thinks CAC's evaluations are inconsistent can ignore the stickers and not send their coins to them for consideration.

    Problem solved. B)

    So anyone who disagrees with CAC or finds their grading inconsistent should lose money? Talk about adding insult to (perceived) injury...

  • CoinJunkieCoinJunkie Posts: 8,772 ✭✭✭✭✭

    @MasonG said:
    Anyone who thinks CAC's evaluations are inconsistent can ignore the stickers and not send their coins to them for consideration.

  • winestevenwinesteven Posts: 4,941 ✭✭✭✭✭

    @Cougar1978 said:
    Cac Players:

    What is the biggest premium you have paid for a CAC coin - pct wise, CAC bid vs non CAC bid or overall est pct premium vs the non CAC issue? Date / denom / type / grade please share. Am curious.

    I’ve paid “the going rate” for my CAC coins, taking the grade and eye appeal into account. Being I choose to not buy any coin without a CAC that is eligible for a CAC, I don’t feel I’m paying any “Premium”. I’m just paying fair price for these coins with CAC’s. As a generalization, the majority are somewhere around the PCGS Price Guide value (which is often much higher than the selling prices of coins that don’t merit a CAC).

    A day without fine wine and working on your coin collection is like a day without sunshine!!!

    My collecting “Pride & Joy” is my PCGS Registry Dansco 7070 Set:
    https://www.pcgs.com/setregistry/type-sets/design-type-sets/complete-dansco-7070-modified-type-set-1796-date/publishedset/213996
  • MasonGMasonG Posts: 6,262 ✭✭✭✭✭

    @cameonut2011 said:
    So anyone who disagrees with CAC or finds their grading inconsistent should lose money?

    ???

    What does this:
    disagrees with CAC or finds their grading inconsistent

    have to do with this:
    should lose money?

  • amwldcoinamwldcoin Posts: 11,269 ✭✭✭✭✭

    I'm glad I'm playing a market where I don't have to pay extra to have an intruding sticker placed on a coin I've had graded!

  • cameonut2011cameonut2011 Posts: 10,181 ✭✭✭✭✭

    @MasonG said:

    @cameonut2011 said:
    So anyone who disagrees with CAC or finds their grading inconsistent should lose money?

    ???

    What does this:
    disagrees with CAC or finds their grading inconsistent

    have to do with this:
    should lose money?

    Sellers of coins ignore CAC at their own financial peril. Why leave 30-40%++ on the table and bite your nose to spite your face?

  • winestevenwinesteven Posts: 4,941 ✭✭✭✭✭
    edited July 9, 2020 7:40PM

    @amwldcoin said:
    I'm glad I'm playing a market where I don't have to pay extra to have an intruding sticker placed on a coin I've had graded!

    And I’m glad I’m playing a market where I can have strong confidence, confirmed by one of the top unbiased professional experts in the industry, that my coins are “A or B”, not “C” coins, and also have not had things done to the surfaces that might have been done to coins that don’t merit a CAC! Additionally, I and many others believe that when our stickered coins are sold, by us or by our heirs, there’s a decent chance of receiving “fair” value!

    For those that have the expertise to do this on their own, terrific! You can make a ton of money by purchasing coins without CAC’s that you like, and then send them to CAC with just $15, and turn around and sell it for a tidy profit! I believe some of you do just that, but I also believe most of those who bash CAC don’t do this profitably on a regular basis!

    @keets , I think I just gave your post more legs, lol.

    A day without fine wine and working on your coin collection is like a day without sunshine!!!

    My collecting “Pride & Joy” is my PCGS Registry Dansco 7070 Set:
    https://www.pcgs.com/setregistry/type-sets/design-type-sets/complete-dansco-7070-modified-type-set-1796-date/publishedset/213996
  • MasonGMasonG Posts: 6,262 ✭✭✭✭✭

    @cameonut2011 said:
    Sellers of coins ignore CAC at their own financial peril. Why leave 30-40%++ on the table and bite your nose to spite your face?

    Well then, they should send their coins to CAC to increase their value by 30-40%++ and not whine so much about how they'd rather not have to do so. Do I have to think of everything? ;)

  • cameonut2011cameonut2011 Posts: 10,181 ✭✭✭✭✭
    edited July 9, 2020 7:38PM

    @MasonG said:

    @cameonut2011 said:
    Sellers of coins ignore CAC at their own financial peril. Why leave 30-40%++ on the table and bite your nose to spite your face?

    Well then, they should send their coins to CAC to increase their value by 30-40%++ and not whine so much about how they'd rather not have to do so. Do I have to think of everything? ;)

    Expressing disagreement with inconsistencies is not the same as whining. Why is that a circulated coin with a few hairlines not due to cleaning can be rejected yet CAC will sticker coins with staple scratches? Why is it JA treats AU50/AU53 as the same grade without publicly posting that on the CAC website (ditto for one of the VF grades IIRC)?

  • amwldcoinamwldcoin Posts: 11,269 ✭✭✭✭✭
    edited July 9, 2020 7:38PM

    Most that play in my area don't need a 2nd opinion, or PCGS for that matter. My average sales price of over 2000 pieces is probably around double PCGS price guide! I've got a few pieces in my collection I've probably paid 5 times PCGS price guide.

    @winesteven said:

    @amwldcoin said:
    I'm glad I'm playing a market where I don't have to pay extra to have an intruding sticker placed on a coin I've had graded!

    And I’m glad I’m playing a market where I can have strong confidence, confirmed by one of the top unbiased professional experts in the industry, that my coins are “A or B”, not “C” coins, and also have not had things done to the surfaces that might have been done to coins that don’t merit a CAC!

  • KindaNewishKindaNewish Posts: 827 ✭✭✭✭✭

    tl;dr.
    8 pages of whatever someone who has a beef with CAC.
    You guys really need to start acting like adults.

  • amwldcoinamwldcoin Posts: 11,269 ✭✭✭✭✭

    I'm sorry. But this just strikes me funny. Is your avatar your role model? :#

    @KindaNewish said:
    tl;dr.
    8 pages of whatever someone who has a beef with CAC.
    You guys really need to start acting like adults.

  • cameonut2011cameonut2011 Posts: 10,181 ✭✭✭✭✭
    edited July 11, 2020 12:28PM

    .

  • cameonut2011cameonut2011 Posts: 10,181 ✭✭✭✭✭

    @Justacommeman said:
    It took awhile but it’s happening

    Yet remarkably, it keeps chugging along. I like analogies.

  • KindaNewishKindaNewish Posts: 827 ✭✭✭✭✭

    @amwldcoin said:
    I'm sorry. But this just strikes me funny. Is your avatar your role model? :#

    @KindaNewish said:
    tl;dr.
    8 pages of whatever someone who has a beef with CAC.
    You guys really need to start acting like adults.

    Yes. And the new Oldsmobiles are in early this year.

  • winestevenwinesteven Posts: 4,941 ✭✭✭✭✭

    @amwldcoin said:
    Most that play in my area don't need a 2nd opinion, or PCGS for that matter. My average sales price of over 2000 pieces is probably around double PCGS price guide! I've got a few pieces in my collection I've probably paid 5 times PCGS price guide.

    >

    I wonder even how much more than the prices your coins sold for you would have received had you spent just $15 for each to get stickered? I’d imagine a lot more than that $15 cost.

    A day without fine wine and working on your coin collection is like a day without sunshine!!!

    My collecting “Pride & Joy” is my PCGS Registry Dansco 7070 Set:
    https://www.pcgs.com/setregistry/type-sets/design-type-sets/complete-dansco-7070-modified-type-set-1796-date/publishedset/213996
  • MasonGMasonG Posts: 6,262 ✭✭✭✭✭
    edited July 9, 2020 7:50PM

    @cameonut2011 said:
    Expressing disagreement with inconsistencies is not the same as whining.

    Fair enough. So the choice is to accept whatever disagreements one finds and use their services to help sell one's coins for 30-40%++ or don't. Anyway, CAC is a voluntary service. Nobody is required to send their coins for evaluation.

    @cameonut2011 said:
    Why is that a circulated coin with a few hairlines not due to cleaning can be rejected yet CAC will sticker coins with staple scratches?).

    I don't know. If the answer mattered enough to me, I'd ask them.

  • cameonut2011cameonut2011 Posts: 10,181 ✭✭✭✭✭

    @winesteven said:

    @amwldcoin said:
    Most that play in my area don't need a 2nd opinion, or PCGS for that matter. My average sales price of over 2000 pieces is probably around double PCGS price guide! I've got a few pieces in my collection I've probably paid 5 times PCGS price guide.

    >

    I wonder even how much more than the prices your coins sold for you would have received had you spent just $15 for each to get stickered? I’d imagine a lot more than that $15 cost.

    I may be way off, but I’m guessing for original circulated Barber coinage (key dates excepted) the added invoice fee + $15 + shipping and insurance both ways would probably eclipse any increase of value secondary to stickering.

  • winestevenwinesteven Posts: 4,941 ✭✭✭✭✭
    edited July 9, 2020 8:04PM

    @cameonut2011 said:

    @winesteven said:
    I wonder even how much more than the prices your coins sold for you would have received had you spent just $15 for each to get stickered? I’d imagine a lot more than that $15 cost.

    I may be way off, but I’m guessing for original circulated Barber coinage (key dates excepted) the added invoice fee + $15 + shipping and insurance both ways would probably eclipse any increase of value secondary to stickering.

    I agree this is true for coins selling for a couple hundred dollars or so, but not the coins @amwldcoin is selling at double PCGS Price Guide values. By the way, I agree and understand your mentioning the $15 and round trip shipping with insurance, but what expense is the invoice fee? Are you referring to the new $5 fee per submission (which is very low per coin when several are sent in on one submission form)?

    A day without fine wine and working on your coin collection is like a day without sunshine!!!

    My collecting “Pride & Joy” is my PCGS Registry Dansco 7070 Set:
    https://www.pcgs.com/setregistry/type-sets/design-type-sets/complete-dansco-7070-modified-type-set-1796-date/publishedset/213996
  • cameonut2011cameonut2011 Posts: 10,181 ✭✭✭✭✭

    @winesteven said:

    @cameonut2011 said:

    @winesteven said:
    I wonder even how much more than the prices your coins sold for you would have received had you spent just $15 for each to get stickered? I’d imagine a lot more than that $15 cost.

    I may be way off, but I’m guessing for original circulated Barber coinage (key dates excepted) the added invoice fee + $15 + shipping and insurance both ways would probably eclipse any increase of value secondary to stickering.

    I agree this is true for coins selling for a couple hundred dollars or so, but not the coins @amwldcoin is selling at double PCGS Price Guide values. By the way, I agree and understand your mentioning the $15 and round trip shipping with insurance, but what expense is the invoice fee? Are you referring to the new $5 fee per submission (which is very low per coin when several are sent in on one submission form)?

    Yes. It may seem petty but every dime counts especially with rising auction commissions.

  • jmlanzafjmlanzaf Posts: 36,617 ✭✭✭✭✭
    edited July 9, 2020 8:18PM

    @cameonut2011 said:

    @jmlanzaf said:

    @csdot said:
    Looking at the dealer's posted disclaimer, it could be this dealer is in a state of denial over the fact that CAC is now demanded by the market. Could be he is irritated at being told over and over that his non-CAC coins (even the ones he had bought cheap from a widow because they were raw and he had them slabbed - and therefore he knows never went to CAC) are going to be judged as having failed to achieve a bean because that's what today's market demands?

    I had a dealer once tell me that CAC is not something he values on a coin because he observed another dealer with a roll of bean stickers putting them on the coins. This was 5-10 years ago when I was first hearing about CAC, so maybe the dealer saw something; or maybe he was confused about what stickers the other dealer was applying; or maybe he just made up this story to explain why he wasn't going to assume the added cost of CAC for his inventory.

    There is a digital CAC inventory on the CAC site. You could not pass off a fake sticker as real to anyone with a computer and any rudimentary intelligence.

    Tell that to the slab/coin counterfeiters that rip valid serial numbers from Heritage and Stacks-Bowers.

    So you think this dealer was counterfeiting slabs and then putting beans on them?

    Sure, could happen. Of course, that being the case, the slabs won't help you either and even the coins could be good counterfeits. So, might as well collect stamps.

    But the real profit isn't in the fake green bean, it's in the fake slab itself. Really greedy counterfeiter wants that extra 10%.

  • cameonut2011cameonut2011 Posts: 10,181 ✭✭✭✭✭

    @jmlanzaf said:

    @cameonut2011 said:

    @jmlanzaf said:

    @csdot said:
    Looking at the dealer's posted disclaimer, it could be this dealer is in a state of denial over the fact that CAC is now demanded by the market. Could be he is irritated at being told over and over that his non-CAC coins (even the ones he had bought cheap from a widow because they were raw and he had them slabbed - and therefore he knows never went to CAC) are going to be judged as having failed to achieve a bean because that's what today's market demands?

    I had a dealer once tell me that CAC is not something he values on a coin because he observed another dealer with a roll of bean stickers putting them on the coins. This was 5-10 years ago when I was first hearing about CAC, so maybe the dealer saw something; or maybe he was confused about what stickers the other dealer was applying; or maybe he just made up this story to explain why he wasn't going to assume the added cost of CAC for his inventory.

    There is a digital CAC inventory on the CAC site. You could not pass off a fake sticker as real to anyone with a computer and any rudimentary intelligence.

    Tell that to the slab/coin counterfeiters that rip valid serial numbers from Heritage and Stacks-Bowers.

    So you think this dealer was counterfeiting slabs and then putting beans on them?

    Sure, could happen. Of course, that being the case, the slabs won't help you either and even the coins could be good counterfeits. So, might as well collect stamps.

    But the real profit isn't in the fake green bean, it's in the fake slab itself. Really greedy counterfeiter wants that extra 10%.

    No. I was responding to your assertion (as I read it) that CAC’s database of stickered coins is sufficient to deter fake CAC stickers.

  • cameonut2011cameonut2011 Posts: 10,181 ✭✭✭✭✭

    P.S. Stickers appear to have intrinsic value of their own. Look at the premium gold CACs were fetching for the longest time even on Uber common coins.

  • android01android01 Posts: 306 ✭✭✭✭✭

    I wonder if Mr. Albanese lurks here in the forums reading these threads. I'm sure it would be a great source of amusement! :)

  • ms70ms70 Posts: 13,956 ✭✭✭✭✭

    **400! **

    Great transactions with oih82w8, JasonGaming, Moose1913.

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