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|October 2016 Issue|
Thoughts About CAC
I am very happy to have the summer behind us. It’s always a challenge to go through the quiet time for the coin business. I’m glad customers get in their hard-earned time off and recharge. Yet, it really puts a wrench into the business we do.
This year, I decided to do something a little differently. We ramped up our Coin World advertising with two full page ads in August and September. Both issues surprised us. The August issue, in particular, was very well received. Not only did business from the ad exceed expectations, but we had almost 40 new subscribers sign up for our newsletter. I was very happy to have new customers give us a shot. The September ad was not as well received, but it came on strong at the end.
Something of concern was how little people knew about CAC (Certified Acceptance Corporation) or how some clients thought it was a gimmick of some kind. I guess newer clients to our company were surprised by how many CAC coins we had in our ad, so they were happy to give us their opinion when we asked what they thought about CAC-approved coins. The two main questions about CAC were, “why is it necessary?” and if I have coins that are already graded by PCGS or NGC, “why is CAC so reluctant to sticker more certified coins?”