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Posted 07/31/2012 4:53 pm
The offers you're seeing from dealers are founded partly on their balance between what the coin is worth, and their likelihood of having that much capital tied up in one coin while they find a buyer. Obviously, a dealer has to make a little profit on your coin, and unless they have a buyer they know will take it quickly, you're not going to see a reasonable offer. The $4000 guy was almost reasonable, but he was still speculating. He doesn't have a buyer.
Collectors who have both the interest and wherewithal to buy coins like this tend to have longstanding relationships with high-end dealers, who go to auctions with a specific want-list and bid from a knowledge of both the value of the coin, and what their client is willing to pay. Some few collectors bid on their own initiative. But consider my use of the word "bid" - this coin will only see a fair purchase price if liquidated through one of the high-end auction houses. Any of them (Stacks/Bowers, Heritage, and the ilk) will cheerfully consign a coin like this on your behalf, minimizing your effort.
Like it or not, PCGS slabs see higher prices in the marketplace. I'm not expressing an opinion, just a fact. Nobody with $10k to spend on a coin will purchase it raw without the absolute word from a dealer they trust - your ROI for spending the cost of slabbing is obvious both from a standpoint of realized price and saleability.
You determine the cost level of a submission by honestly estimating the grade of your coin. The cost of a PCGS slab would be the same for MS60-62 on this coin, anyway, and a grand total of $20 cheaper if it reaches a lesser grade. If it by some chance reaches MS63, I suspect PCGS will let you know and you'll be happy to fork over an extra $50 because you now have a $30k coin. Considering your initial investment, that won't kill your net profit either way.
Since your intent is to pass this coin on, maximize the value to your heirs by having it slabbed, and ensuring that they're well aware of what it is. It's my usual advice in this case to insert specific language into your will about the nature of the coin and preferred liquidation, it being more binding morally if not legally than bequeathing it in bulk.
Collectors who have both the interest and wherewithal to buy coins like this tend to have longstanding relationships with high-end dealers, who go to auctions with a specific want-list and bid from a knowledge of both the value of the coin, and what their client is willing to pay. Some few collectors bid on their own initiative. But consider my use of the word "bid" - this coin will only see a fair purchase price if liquidated through one of the high-end auction houses. Any of them (Stacks/Bowers, Heritage, and the ilk) will cheerfully consign a coin like this on your behalf, minimizing your effort.
Like it or not, PCGS slabs see higher prices in the marketplace. I'm not expressing an opinion, just a fact. Nobody with $10k to spend on a coin will purchase it raw without the absolute word from a dealer they trust - your ROI for spending the cost of slabbing is obvious both from a standpoint of realized price and saleability.
You determine the cost level of a submission by honestly estimating the grade of your coin. The cost of a PCGS slab would be the same for MS60-62 on this coin, anyway, and a grand total of $20 cheaper if it reaches a lesser grade. If it by some chance reaches MS63, I suspect PCGS will let you know and you'll be happy to fork over an extra $50 because you now have a $30k coin. Considering your initial investment, that won't kill your net profit either way.
Since your intent is to pass this coin on, maximize the value to your heirs by having it slabbed, and ensuring that they're well aware of what it is. It's my usual advice in this case to insert specific language into your will about the nature of the coin and preferred liquidation, it being more binding morally if not legally than bequeathing it in bulk.
