CAC Verified Coins
CAC verified coins are gaining market momentum according to Jason Smith at Stella Coin News. According to Smith, the market is valuing the coin grading verification services performed by the Certified Acceptance Corporation.
CAC offers two services to the coin collecting community,
- Verifying the grades assigned by PCGS and NGC are accurate, and
- Market making in CAC approved coins.
Why does market believe there is a need for CAC to verify the accuracy of PCGS and NGC slabbed coins? Well, according to CAC, it is because of th gradeflation that is supposedly occuring at PCGS and NGC. CAC founder John Albanese believes that the coin investing community and coin collecting community needs CAC to ensure that coins are being accurately graded.
But, I have to ask, wasn’t this the purpose of PCGS and NGC? Aren’t slabbed coins supposed to already perform this function? If PCGS and NGC have succumbed to the business pressures of their clients and are improperly grading coins, what stops CAC from doing the same? Sure right now they might not be, but it seems to me that over time these same pressures will exist for CAC. In fact, the pressures will probably be greater because there will be added pressure from PCGS and NGC to not make them look bad.
I am also concerned that coin slab holders are going to start to look like NASCAR race cars with stickers all over them. I mean if seeing the CAC sticker is necessary, maybe we need to triple check the accuracy of the coin grades. To me, this seems crazy.
My solution is to stop this and demand that PCGS and NGC accurately grade coins. That is what we are paying them for. What do you think of CAC verified coins?
Tags: american coin collecting, coin grading, nascar, ngc, pcgs
eShop: american coin collecting coin grading nascar ngc pcgs
Comments (0)
