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CAC-approved coins lead the way in the official auction by Heritage at the Summer FUN Convention in Orlando on July 12 and 13. Before listing eight examples from the Summer FUN Auction, two sales of CAC coins by GreatCollections are mentioned, as CAC coins fared well in multiple settings this month, not just at the FUN Auction.
1814 O-107 half dollar, MS-62.
- On July 8, GreatCollections sold an MS-62 1814 half dollar, with a CAC sticker, for $3,237.75. In 2017, Heritage sold four MS-62 1814 halves, none of which had a CAC sticker, for $2,280 in September, for $2,585 in April, plus two in the FUN sale in January, for $2,468 and $1,998, respectively.
1910-D Indian gold half eagle MS-63 CAC.
- On July 22, GreatCollections sold a CAC-approved MS-63 1910-D $5 gold coin for $2,418.75. In June, Stack’s-Bowers sold an MS-63 1910-D $5 gold coin, without a CAC sticker, for $1,680. In March 2018, Heritage sold another, without a CAC sticker, for $1,560.
1913 Type One nickel, MS-68.
- An MS-68 1913 ‘Type One’ Buffalo nickel, with CAC approval, realized $13,800. In recent months, other CAC-approved MS-68 1913 ‘Type One’ Buffalo nickels realized more. In contrast, MS-68 1913 ‘Type One’ Buffalo nickels without CAC stickers, typically sell for less than $10,000 each. Stack’s-Bowers auctioned one for $9,000 in March and Heritage sold a different MS-68 ‘Type One’ nickel in January 2018 for $6,999.60.
1890-CC $20, MS-61 Late Die State Variety 1-A.
- On July 12, an MS-61 1890-CC $20 gold coin, with a CAC sticker, brought $11,400. Seconds earlier, an MS-61 1890-CC $20 gold coin, without a CAC sticker, realized $7,800. Previous auction results suggest that a major difference in value is not unusual. Heritage sold an MS-61 1890-CC $20 gold coin, without a CAC sticker, for $9,600 on March 31, 2018, and one with a sticker for $12,000 on January 8, 2018.
1886-O dollar, MS-64.
- In this Summer FUN event, Heritage auctioned two MS-64 1886-O silver dollars in consecutive lots. The coin without a CAC sticker realized $6,021.60, while the coin with a CAC sticker brought $10,200. This is not a fluke, as CAC-approved MS-64 1886-O silver dollars have consistently sold for more than $10,000 at auction. On March 31 and on February 26, 2018, Heritage sold non-CAC, MS-64 1886-O dollars for $7,800 each.
1898 silver dollar, MS-67.
- There were two MS-67 1898 silver dollars in this Summer FUN auction in consecutive lots. The CAC-approved MS-67 1898 brought $4,560, while the non-CAC MS-67 1898 went for $2,160, which is not an unusually low price. In an Internet sale on June 17, 2018, another MS-67 1898 dollar, without a CAC sticker, went for $2,220.
1935-S Peace dollar, MS-66.
- A CAC-approved MS-66 1935-S Peace dollar sold for $3,840. Earlier in 2018, this same auction firm sold four MS-66 1935-S Peace dollars, without CAC stickers, for $3,120, $2,880, $2,640 and $1,920. In contrast, on May 17, Legend auctioned a different CAC-approved MS-66 1935-S Peace dollar for $5,757.50.
1853 Seated half dime, MS-66.
- A CAC-approved MS-66 1853 ‘No Arrows’ half dime brought $3,120. Less than a month earlier, on June 17, the same auction firm sold a certified MS-66 1853 ‘No Arrows’ half dime, without a CAC sticker, for $2,160.
1918/7-D Buffalo nickel.
- A CAC-approved Fine-12 1918/7 Denver Mint overdate Buffalo nickel was auctioned for $1,920. In January, the same auction firm sold a Fine-12 1918/7-D, without a CAC sticker, for $1,320. Evidence for such a premium may be found in results from 2017 as well. DLRC twice sold the same CAC-approved F-12 1918/7-D nickel, for $2,150 in May and for $2,100 in December. On March 30, 2017, Stack’s-Bowers auctioned a Fine-12 1918/7-D, without a CAC sticker, for $1,410. In February 2017, Heritage auctioned a Fine-12 1918/7-D, without a CAC sticker, for the same price the previously mentioned nickel brought, $1,410.
1845 H10C MS-66.
- A CAC-approved MS-66 1845 half dime realized $1,620. In January, the same auction firm auctioned another bright-white MS-66 1845 half dime, without a CAC sticker, and in a different holder, for $1,320. These two could be the exact same coin. In any event, there was a premium for the CAC approval. In February 2018, a very different, MS-66 1845, without a CAC sticker, realized $1,175.
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I still stand by what I wrote in July:
Let’s see, first we had coins. They looked pretty nice, well…that wasn’t good enough we had to have a numerical rating on them,,,well, that wasn’t good enough, we had to have somebody else grade the coin using the numerical scale, well…that wasn’t good enough, we had to pick the best of the best of the third party graders to say what condition the coin was in, well…that wasn’t good enough, now we have to have another group of “experts” decide whether or not the last group that looked at the coin, looked at it the same way the new group looks at the coin. If so, the coin gets a little green sticker (AKA bean). So now we have no faith in the best of the best “expert’s” ability to grade the coin unless it has a green bean on the coin’s casing that somebody else said it is what it says it is. So if the green bean guy says it’s okay, then it must be worth more than the original guy says it is. So there is MS 65, then there is MS 65 with a green bean. So, we are no longer interested in the coin unless it has the green sticker. The coin is the same coin isn’t it? Sounds like we have a new status symbol to brag about how much more we spent on an MS65 with a green bean than the poor schmuck who only bought an MS 65, Hmm, what will be next?