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 Replies: 24 / Views: 4,274 |
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Valued Member
United States
271 Posts |
I think Harry hit it right on the head!
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Pillar of the Community
Canada
1505 Posts |
I would guess it is going to an overseas customer and are handed out as gifts. Maybe a reward for employees or customers.
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Pillar of the Community
Canada
5324 Posts |
All NCLT are proofs by the way they are produced, I doubt highly anyone would be stupid enough to commission 100,000 NCLT coin, can't be a bullion version due to it's denomination, even grading 10,000 units is a huge expense with little rewards.
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Bedrock of the Community
 United States
12477 Posts |
I get the feeling that these mass submissions (most likely at a huge discount) are intended for distribution in a market outside of North America. Or... Maybe the coins themselves came from a market outside of North America.  In Memory of Crazyb0 12-26-1951 to 7-27-2020
In Memory of Tootallious 3-31-1964 to 4-15-2020
In Memory of T-BOP 10-12-1949 to 1-19-2024
Edited by spru
02/18/2018 01:37 am
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Bedrock of the Community
Australia
21788 Posts |
If there is a huge number of MS70 coins, is there a justification for paying more than the same price you would for an equivalent MS66 coin?
It seems that the most common grade is in the very high MS range.
If that is the case, that makes an MS70 coin a poor investment. Better to simply be a bullion stasher and buy more cheaply.
If over 100,000 coins have been graded for $2,000, that's a grading fee of little more than 2 cents per coin.
The math doesn't make much sense.
For a start, the grader won't be able to spend useful time on each coin, and the cost of the slab only would have to be less than zero.
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Pillar of the Community
United States
3184 Posts |
I thnk harry hit it on the head.....probably QVC or something of that sort. Lets not forget places like JMBullion,apmex, etc who also deal in large numbers. |
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Pillar of the Community
Canada
2984 Posts |
Quote:
If over 100,000 coins have been graded for $2,000, that's a grading fee of little more than 2 cents per coin.
The math doesn't make much sense. The OP said $2,000,000. Not $2000. Quote:
$2,000,000 in grading fees alone |
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Pillar of the Community
 Canada
798 Posts |
To put this into perspective a little bit more, someone has literally spent $80,000,000 on the whole lot of coins (incl. the US and China bulk submissions) and millions on grading fees. I would think that this is coming from overseas as well, as this is just such a massive, massive investment. The market is so slow and weak for graded coins right now, and someone, some firm, or some government just made a huge move without causing any sort of ripple in the price or demand.
Very interesting and I would be very interested in getting to the bottom of this!
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Pillar of the Community
Canada
5324 Posts |
It's like I said before, can not be a bullion version due to the denomination and no one in their right mind would commission a NCLT coin with 100,000 mintage, just the easiest way to lose at least half of your investment. The shipping and grading fees of say 3 bucks coin would render this exercise fruitless
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Valued Member
Canada
457 Posts |
Maybe these are all going to be given away at the Olympics
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CCF Master Historian of USA Commemoratives
 United States
12300 Posts |
Is it possible there is a mistake in the reporting of the numbers by NGC? Maybe a data entry mistake?
Collecting history one coin or medal at a time! (c) commems. All rights reserved.
Edited by commems
02/18/2018 11:18 am
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Pillar of the Community
Canada
798 Posts |
Commems, it is definitely possible. I'm going to call them on Tuesday and satisfy my curiosity.
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Bedrock of the Community
Australia
21788 Posts |
MoneyPenney: Got it, my error.
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Pillar of the Community
Canada
798 Posts |
Called NGC yesterday. For the most part, they didn't really say much other than that the numbers are in fact correct. They also said that in the case of the 100k Rooster coins, that they could have been a commissioned item and that a grade minimum was requested by the client. She said that the Hong Kong submission centre has the capability to handle large orders (hint, hint). The rest was the blah, blah about customer privacy and security.
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Pillar of the Community
Canada
5324 Posts |
None of the explanations from NGC makes financial sense, and the way the RCM operates , you can custom order bullion coins at a minimum amount, NCLT commissions are you pay for dies and upfront costs you can have up to 50% of the mintage. The Asian collectors are really smart, why would you slab a 100,000 of any coin, maybe this is his jab at the China counterfeits ! |
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Posted 02/17/2018 10:52 pm
