My CACG Story
vpr
Posts: 622 ✭✭✭
I have been taking a break from the hobby for a few years now (I haven't sold my collection, just not been paying attention or buying) because of other priorities, an international move to and back, COVID etc.
After more or less settling back into a good routine this past year, I figured I'd look at what the community has been up to, so naturally I browsed a well known LCS' website recently and noticed that this fellow somehow came into the possession of several "CACG" gold pieces. What impeccable timing and luck on my part!
OK great, let me see if there is something reasonably priced because I have always wanted to for once, buy the holder for the holder and not the coin. A CACG gold coin that is. But, the premiums as far as I can remember were always astronomical.
Well, let me see which one to pick, so I look up price guides and find the coin. It was a $5 Liberty MS64 CACG priced at $1750 (cash price). The price jumps to $7000 in MS65 and about $30,000 in MS66. What? A MS64 CAC Gold Bean priced only slightly higher than guide price? I'm all in! I go to the bank first thing the next morning (I'll save the 3% credit card fee, thank you very much), withdraw $1750 and head straight over to the LCS.
Long story short, I did not get the memo about the new(ish) CACG grading service and the website only had photos of the coin and not the holder. CACG is not CAC Gold Bean.
Comments
I guess, theoretically, you could call it a CAC Green Bean.
https://www.pcgs.com/setregistry/everyman-collections/everyman-dollars/everyman-carson-city-morgan-dollars-circulation-strikes-1878-1893/alltimeset/342506
https://www.pcgs.com/setregistry/type-sets/type-sets-by-mint/carson-city-basic-type-set-circulation-strikes-1870-1893/alltimeset/378275
Woke up and the pillow was gone.
Sorry, couldn't help but laugh. Sounds like you may have got a good coin, just not the bargain you thought you did.
There really is no Santa Claus in Numismatics
“We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”
Todd - BHNC #242
I think my brain convinced me in the moment that CAC = CAC Green and CACG =. CAC Gold.
Yeah, I can definitely tell your enthusiasm for thinking it was an undergraded coin with a huge price spread for the next grade up. I can honestly say that I've mistakenly thought I might be scoring great deals on various items in my life that turned out to not be so. Like you, thankfully, I caught the majority of those errors before purchasing.
https://www.pcgs.com/setregistry/everyman-collections/everyman-dollars/everyman-carson-city-morgan-dollars-circulation-strikes-1878-1893/alltimeset/342506
https://www.pcgs.com/setregistry/type-sets/type-sets-by-mint/carson-city-basic-type-set-circulation-strikes-1870-1893/alltimeset/378275