Given all the financial problems facing the world today, one segment of the economy continues to perform quite well. Rare coins have emerged as one of the premier collectibles of choice, leaving stamps, sports cards and beanie babies far in the distance. Naturally, the historical connections our coins embody is one important aspect of collector interest; another is intrinsic value, and a third is rarity. Collectors appreciate rarity especially, and desire to own coins that were struck in limited quantities. As as ubcategory, condition rarities, such as the 1892S Morgan Dollar, also keep collectors enthused. There is also the joy and sense of accomplishment felt upon completing a set, as well as the excitement of seeing one’s collection increase in value over time. Considering how much coin collecting has to offer, it’s no wonder this hobby stands above many others, and remains so robust even in times of economic upheaval. Today’s buyers are at least as passionate as any from the past, and are quite possibly the most demanding of all time, having access to the greatest amount of information. Therefore, premium quality coins are a must. Those specimens that obtain a CAC sticker or other official demarcation of quality are in especially high demand. In fact, CAC has been flooded with dealer submissions, so a cut-off date for membership applications has been set for May first of this year. The desire to keep quality up and turnaround time down is the goal. The former has not come without some difficulty for the nascent enterprise, though already having bought back fifteen stickered coins is clearly a sign of good faith and an example of some understandable growing pains. Applications for membership may be accepted again as early as January of 2009.

While only PCGS and NGC slabs are currently considered for CAC stickers, PCI may be next. Actually, PCI is now Dominion Grading Service, or DGS, and the changes planned by the new owner, John Feigenbaum, may very well lead to acceptance by CAC. In particular, the revamped grading service will develop a population report available online, and include in this report images of each $100 plus coin. This adds a valuable level of insurance against counterfeits which have recently plagued PCGS, NGC and ANACS. In addition, coins with problems will not be net graded,but rather will have their flaws described on the slab in addition to the grade.

Santa Clara, California is in the numismatic spotlight as dealers and collectors converge at this all important show. Next up is PNG Day, the CSNS Convention and Heritage Auction in Rosemont, Illinois, beginning April 16. Just prior to the CSNS, Bowers & Merena will host their April 15 Chicago Rarities Sale. We have listed some previews from both auctions herein.

Reprinted from Issue No. 15   April 11, 2008 of the Coin Dealer Newsletter - the Greysheet
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