In other third-party grading news, the new CAC Grading service launch date approaches. Here's an update from David Kahn, published in his David Kahn Rare Coins News and Newps email newsletter for June 2023.
There is significant news regarding CAC Grading (henceforth CACG). They began accepting submissions from their investor-partners last week. We sent in a selection of coins - some raw, some PCGS/NGC slabbed without stickers and some slabbed with stickers - so that we could begin to understand how this will all work in practice. And, we'll probably send some additional coins in this week. We hope to be able to have some new CACG coins with us at the ANA's World's Fair of Money this August in Pittsburgh. Just one more reason to consider attending that show.
CACG has been very busy getting up to speed. Their website has been greatly expanded and updated with a new online portal, the coin catalog has been created, many die variety attributions have been added to the catalog, submission forms have been made available, and actual coin-processing operations in Virginia Beach have begun. We were able to spend a little bit of time with a couple of the senior grader/finalizers at Baltimore - Bill Shamhart and John Butler - and we've been assured that the intensive preparatory work has been completed. Yet there is plenty more to do, and there will surely be kinks and bottlenecks in the various systems to be worked through, but that is why they have yet to throw the switch on accepting submissions generally. That will come in time. John Albanese and the entire staff at CACG wants to get it all right from the start, and we are completely confident they will do just that.
There is CAC Stickering news as well. The economy tier, which had been paused for many months, has now re-opened. But be sure to check the details before you send coins to New Jersey, as the prices, tier structure and other details have changed quite a bit. For example...collector accounts used to pay $0 for coins that didn't sticker while dealers paid in full for such coins. Going forward, all accounts will now get a 25% rebate for a coin that does not sticker, and costs are higher to begin with. Still, we are happy to be able to send cheaper coins again.
To read the complete DKRC newsletter, see:
Baltimore in June...
A short Greysheet article by John Feigenbaum provides a link to a recent Coin Shop Podcast about the CAC launch.
A lot of folks are curious about the new CAC grading service and many questions are being asked about details. Kenny Duncan, Jr. and Matt Duncan, of The Coin Shop Podcast spent a few minutes with founder, John Albanese, to get some answers as the "launch date" approaches.
To read the complete article (with a link to the video), see:
John Albanese of CACG Discusses the Launch of New Grading Service with The Coin Shop Podcast
To read earlier E-Sylum articles, see:
HARRY LAIBSTAIN ON HOBBY'S PAST AND FUTURE
CAC BECOMES A THIRD-PARTY GRADING COMPANY
Wayne Homren, Editor
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