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I have been doing some research on the net in reference on the ACT and her is what I found:
Rules of ATCs
There are only two true rules applied to Artist Trading Cards:
1. The dimensions of the card must be 2.5 x 3.5 inches (64 x 89 mm).
2. The cards must be traded - never bought or sold.
Artist Trading Cards are typically made on a base of card stock, although this is not mandatory. ATCs have been created on metal, stiffened fabric, plastic, clay, balsa wood, leather, embroidery canvas, acetate, heavy watercolor paper, and many other materials. Various techniques are then applied to the chosen canvas: collage, assemblage, digital art, calligraphy, beadwork, watercolors, rubber stamps, carved soft block stamps, pen and ink, colored pencil, airbrush, and many others. The back of the card typically includes the artist's signature, the date, and sometimes the number (if the card is part of an edition or series), and title. If part of an organized swap, it is common for people to add the name of the swap and sometimes the name of the swap host.
One of the most popular Artist Trading Cards groups on Yahoo! is found at http://groups.yahoo.com/group/artisttradingcards . And one of the newest, but already very successful is PaganATC at http://groups.yahoo.com/group/PaganATC which is centered toward making, Swapping and Trading ATC's with a Contemporary Pagan Theme.
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ACEOs
ACEO stands for Art Cards, Editions and Originals. ACEOs and Art Trading Cards are related in that they are the same size, (2.5" x 3.5") but while Art Trading Cards are only traded between artists, ACEOs are available for trade or sale, thus opening them up to non artists.
The ACEO movement started on eBay in late 2004, when a small group of artists, led by Lisa Luree (ebay user name, bone*diva,) came up with the ACEO acronym, and began selling original art cards on the open market. By the one year anniversary of the group, there were over 2000 artist/members creating and selling ACEOs to collectors all over the world.
They are small enough to fit in a pocket, can be displayed in frames or on small easels, but are often kept in binders like baseball cards. The are created of every medium from mixed media to oil and acrylic paint. They are quite affordable, if often under priced, but ACEOs are a way for anyone, anywhere, no matter their budget, to own original art, bought directly from the artist.
Today, an ACEO is an Art Card, and ACEO is an artists' group with over 2300 members in every one of the United States, & Canada, UK, Australia, Brazil, Italy, Spain, and elsewhere. The ACEO phenomenon has been called the fastest growing art movements in the country today.
Should we be calling the ATC cards we are selling ACEO instead? And the ones that we are only trading ATC?
Any one have ideas on this? The reason I have brought this up is that some of the ATC we are selling, so are we breaking the rules? I think that the cards are a great idea but just wanted more clarification on it. I think it is great for the bear industry. One more way to get the bear world rolling.
Lynn
What a good question !!!!! I have some on Bid4Bears so I want to make sure I'm not breaking any rules- yikes. I don't want to get banned before I get going. Sure sounds like the 4 sale ones are ACEO.
Anyone ???
Tammy,
I don't want to start a panic here but just want to know we are all doing the right thing on what we are calling them. I have made some up but have not but them for sale yet. I love the idea of trading cards and ones we can sell. 
Lynn
I don't think there are hard and fast rules on this. Generally my research concurs with yours, Lynn... that Artist Trading Cards are for swapping ONLY, and Art Card Editions and Originals are for trading or selling/buying. I was updating my website with ACEO info just this morning and left the ATC reference entirely off, and also included a link to the Wikipedia definition, which seems to agree with most of what's out there. For anyone interested, you can find it here: http://en.wikipedia.org/wiki/Artist_trading_cards
... and Wikipedia reads:
Artist trading cards
From Wikipedia, the free encyclopedia
Artist trading cards, also known as ATCs, are 2 ½ x 3 ½ inch (64 x 89 mm) miniature works of art which artists trade with one another, similar to the way people trade sports cards. They can be any medium: pencil, watercolor, acrylic, oil, collage, scratch board, mixed media - anything the creative mind of the artist can think up. Artist Trading Cards are produced as originals, as limited editions, or as a series. ATCs are a relatively new art form which formally began in September 1996. The concept was created by Swiss artist M. Vänçi Stirnemann.
Conceptually ATCs are about exchanging art without the interface of the art world and without money being involved. Artists trade their cards in face-to-face trading sessions as well as via mail. Artists who trade by mail often make their arrangements online and/or through e-mail. In some ATC artists' opinions, trading cards by mail is a diminished experience when compared to an ATC Trading Session.
Rules of ATCs
There are only two true rules applied to Artist Trading Cards:
1. The dimensions of the card must be 2.5 x 3.5 inches (64 x 89 mm).
2. The cards must be traded - never bought or sold.
Artist Trading Cards are typically made on a base of card stock, although this is not mandatory. ATCs have been created on metal, stiffened fabric, plastic, clay, balsa wood, leather, embroidery canvas, acetate, heavy watercolor paper, and many other materials. Various techniques are then applied to the chosen canvas: collage, assemblage, digital art, calligraphy, beadwork, watercolors, rubber stamps, carved soft block stamps, pen and ink, colored pencil, airbrush, and many others. The back of the card typically includes the artist's signature, the date, and sometimes the number (if the card is part of an edition or series), and title. If part of an organized swap, it is common for people to add the name of the swap and sometimes the name of the swap host.
One of the most popular Artist Trading Cards groups on Yahoo! is found at http://groups.yahoo.com/group/artisttradingcards . And one of the newest, but already very successful is PaganATC at http://groups.yahoo.com/group/PaganATC which is centered toward making, Swapping and Trading ATC's with a Contemporary Pagan Theme.
ACEOs
ACEO stands for Art Cards, Editions and Originals. ACEOs and Art Trading Cards are related in that they are the same size, (2.5" x 3.5") but while Art Trading Cards are only traded between artists, ACEOs are available for trade or sale, thus opening them up to non artists.
The ACEO movement started on eBay in late 2004, when a small group of artists, led by Lisa Luree (ebay user name, bone*diva,) came up with the ACEO acronym, and began selling original art cards on the open market. By the one year anniversary of the group, there were over 2000 artist/members creating and selling ACEOs to collectors all over the world.
They are small enough to fit in a pocket, can be displayed in frames or on small easels, but are often kept in binders like baseball cards. The are created of every medium from mixed media to oil and acrylic paint. They are quite affordable, if often under priced, but ACEOs are a way for anyone, anywhere, no matter their budget, to own original art, bought directly from the artist.
Today, an ACEO is an Art Card, and ACEO is an artists' group with over 2300 members in every one of the United States, & Canada, UK, Australia, Brazil, Italy, Spain, and elsewhere. The ACEO phenomenon has been called the fastest growing art movements in the country today.
Having said all that, I don't think there are any ATC OR ACEO "police" we need to be worrying about.
Doesn't hurt, all the same, to call them by the correct name. I think Kelly Zimmerman was the first to suggest on the board here at TT that ACEO is the more appropriate name to call them, esp. if one sells them.
I'm not getting my shorts too bunched up on this thing, however. At this point I think it's most important to get people AWARE and CREATING.
Thanks for bringing this up, Lynn.
I think I will just call them ACEOs. To keep it all good. That is the site I got the info from as well.
Thanks Shelli
Lynn
Thank you for bringing this to our attention! 
My auctions on Bid4Bears have been corrected. I will continue to sell ACEO's at auction and will set aside a select few ATC's for taking to shows with me to swap.
Here is something to ponder. 
......what happens if an ATC (swapped card) is then sold at a later date. Does it then become an ACEO? Should cards be marked ATC or ACEO to reflect how they were acquired? Hmmmm.
Curiouser and Couriouser.
Warmest bear hugs, :hug:
Aleta
Aleta,
I think this sums it up:
"ACEOs and Art Trading Cards are related in that they are the same size, (2.5" x 3.5") but while Art Trading Cards are only traded between artists, ACEOs are available for trade or sale, thus opening them up to non artists."
I am am going to call them ACEO for when I am selling them and ATC for swap. ACEO and ATC are both artist cards just that one is sold and the other is for swap with other artists.
Hope this helps
Lynn
Posts: 119I have been making ATCs for years and believe it or not have never runned into the name Aceo.
with my artists friends I think it would send shivers up any of their backs to see an ATC sold, or sell one. They are ment to be traded with other artists or given away sort of as super business cards... they do work well as a mini portfollio and are another use as that.
moreover in the realms of ATC some artists think they are ment only as one on one ice breakers and shouldn't be mailed or interneted.
my own viewpoints, I have mailed but have never sold an atc. I just think the issue is in proper title, sort of like the free gift you get when you spend oodles of money for something... free?
my spin as an artist would be don't call them atcs if they are sold.
-Articicle
