CONA June 2019 Newsletter

June Meeting

When: 7 p.m., June 19, 2019
Oakstone Academy: 939 State St. Westerville, Ohio 43081
Topic: GSA Dollars
Speaker: John Roberts

 June Presentation

Millions of silver dollars spent most of their existence sitting in Treasury vaults until they were released at face value in the earlier ‘60’s. When the price of silver rose the payout stopped. The remaining dollars were mostly uncirculated Carson City dates. The General Service Administration was charged with the task of distributing the coins and did so in four sales. We’ll discuss the background, the sales, the various GSA holders and the dollars they contain. – John

May Presentation 

Certified Acceptance Corp., with its green and gold CAC stickers, has changed the hobby. The company evaluates NGC and PCGS-graded coins, giving green oval stickers, commonly called beans, to coins that are above average for their assigned grade and gold stickers to coins CAC determines are actually a full grade higher than the grade the grading service gave the coin. 

CAC advertises that a green sticker adds 20 percent to a coin’s value. Gold stickers add much more.

Since its founding in 2007, the service has evaluated more than 650,000 coins with a value approaching $3 billion. 

CAC does not publish population reports, leaving collectors in the dark about he prevalence of green and gold beans until now. CAC founder John Albanese (who was also a founder of NGC and PCGS) granted CONA member Steve Petty access to his database.

In a detailed and fascinating report on CAC coinage, Steve gave a denomination-by-denomination breakdown of CAC populations of Seated half dimes, dimes, quarters, half dollar, dollars and Trade dollars.

Steve is publishing his findings in the Liberty Seated Collectors Club magazine, The Gobrecht Journal, so I’m not giving them here. The main takeaway, though, was that only a small percentage of coins get green CAC stickers and a miniscule amount get gold beans.

Steve said, gold beans are collected in their own right and command premiums over and above the value of the coin in the holder.

Coin Show Book Sale

With our coin show approaching in early September, our bookstall needs all the books, phamplets, and magazines we can get! So if anyone has some laying around that they’ve read a dozen times and they want to see them go to fellow collectors at our show on Labor Day weekend, please let me know. 

The bookstall is being done the same as last year. You write your name or initials along with your price on the outside of each book and let me know if you are willing to do percentages off if a customer asks during the show. If your book sells, the selling price is written down along with your name. You bring your own books on Thursday of the show and pick up unsold books on Sunday. CONA takes 10% . 

You can donate magazines or sell them, we will have seperate areas for that. Just make sure you make it very clear which are free and which are for sale (use a sale sticker). All sales are tracked with Excel spreadsheets. We also need volunteers for the show days at the bookstall as well. – Thanks! Rachel 

By: Gerry Tebben

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