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CAC increases submission fees

 

The Certified Acceptance Corp. is implementing an increase in its submission fees as of May 1. It is the first such increase in the company’s more than four-year history, it says.

“We’re getting busier and busier every month,” said John Albanese, founder and president of the New Jersey-based firm. “We’re not going to increase our capacity, because that could affect our consistency. We’ve decided to remain small; we only have one grading team, and that’s the way it’s going to stay for the foreseeable future.

“What we’re hoping is that this fee increase will enable us to maintain the current turnaround period, which is typically less than a week.”

CAC will now charge $12.50 apiece to review dealer members’ coins with a stated value of $10,000 or less. It will charge these submitters $25 apiece for coins valued at more than $10,000. The fees have been $10 and $20, respectively, since the firm began operations in October 2007.

The increases won’t take effect for collector members until Dec. 31, 2012. CAC guaranteed its early collector members that fees for them wouldn’t be raised during its first five years of operation, and it has extended that guarantee to subsequent collector members.

CAC experts examine coins previously certified by either the Professional Coin Grading Service or the Numismatic Guaranty Corporation. CAC then affixes a green sticker to the holder of each coin that, in its judgment, fully merits the grade that was assigned. Each sticker incorporates a tamper-resistant hologram.

As of April 1, the company had 415 dealer members and 534 collector members. Dealer members serve as Submission Centers through which their customers’ coins can be sent to CAC. Collector members, known as Advanced Collector/Submitters, can submit certified coins directly to the company for evaluation.

Submission fees are the only charges paid by dealers and collectors who belong to CAC. There is no fee for joining or annual membership fee.

For more information about CAC, its fees or details on how to join, visit www.caccoin.com.

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