Certified Acceptance Corp.’s recent announcement that it will now
accept copper-nickel clad and silver-copper clad circulation strike
Eisenhower dollars for grade review led some Ike enthusiasts to say
that this could revolutionize the high-end Eisenhower dollar market.
That might be an exaggeration, but it certainly cannot hurt the market.
CAC began in late 2007 and evaluates coins previously certified by
either Professional Coin Grading Service or Numismatic Guaranty Corp.,
affixing a green (or in rare instances gold) sticker with a
tamper-resistant hologram to the holder if the coin meets CAC’s
CAC stickers have been generally warmly accepted by the market and
have had the greatest impact in areas where grading has been perceived
to be inconsistent, such as Mint State 65 Saint-Gaudens $20 double
eagles, which are trading at the $2,200 level for nonstickered coins
and at the $2,650 level for coins with a CAC sticker.
CAC-stickered coins have also been embraced in areas where grading
is particularly challenging, such as early U.S. coins that were
produced with uneven production technologies, and in areas where coin
“doctoring” is a problem, such as classic U.S. Proof gold coins.
The value of a CAC sticker in other areas where grading standards
are perceived to be consistent is less easy to generalize.
General dealer and collector consensus is that CAC accurately
identifies coins that are nice for the grade. Further, the presence of
the sticker as an option has made coin buyers aware that quality
differs even within a given grade.
A high-end market for Eisenhower dollars exists today, as
evidenced by the July 8, 2011, sale by Heritage of a 1972-D Eisenhower
dollar graded Mint State 67 by PCGS that realized $9,775. It was one
of five examples of that issue in that grade certified by PCGS with
none graded finer.
For comparison, on March 15, Heritage sold a PCGS MS-66 example
Will CAC stickering Eisenhower dollars create a stampede for the
highest-end coins that will immediately boost prices? Likely not.
However, a CAC sticker might give a buyer greater confidence when
spending a substantial amount of money on an expensive, conditionally
rare, high-mintage Eisenhower dollar. ■