In mid-October it was announced that a new third-party grading service was being developed with the intention of operating in the first quarter of 2023. However, it might already sound familiar to collectors: Certified Acceptance Corporation, or CAC as most people call it.
Already certifying third-party grading and authenticity since 2007, CAC is stepping in as a need for improvement in grading United States coins has come up. According to John Albanese, the one overseeing the creation of the new grading service, it was not even a thought when the company first began. However, collectors and dealers issued a “mandate” for the service in regards to higher priced submissions with Albanese stating that “it became impractical for them to pay two grading fees and essentially four shipping fees for some of the coins.” This new service will allow for a complete and single process, eliminating the third party middle man.
Albanese states that there are over 125 strategic partners who make up the CAC Grading Service who in addition are professionals in the hobby as well as top tier collectors, making it “a true team effort.”
The service will only be available to existing CAC initially, which is comprised of around 3,000 members. There will be a registry set program that includes coins from all graders in addition to their own CAC registry sets that are exclusive for CAC coins. Albanese says the company is putting together the best team of graders possible with their initial focus on United States coins and no plans to include paper money or conservation services in the near future.
The CAC Grading Service will be based out of Virginia Beach, Virginia, with their office in New Jersey remaining open and available for services until after the launch of the new company.
It is also to be noted that the Creation of the CAC Grading Service does not diminish the value of those coins out there that already have the CAC sticker designation but have been graded by other grading companies. Albanese welcomes those coins to their registry as is. However, the stickers will be phased out over time.
Source: Coin World