+1 for Jbuck and Bobby. As a seller sometimes, These coins may be used for generating traffic to their
ebay stores actually. A few others use $1 auctions instead where they generally wont get to normal pricing as when listed buy it now fixed price, but once in a long while can have a bid war on something.
Some are from individuals who think they have that one MS68 and don't look at the census for that grade, send it in, then ultimately dump it later to a coin dealer as part of a larger collection when they stop collecting or trying (again due to inexperience not selling themselves). People are chasing those high value coins and the rest get dumped as there arent as many collectors of graded modern coins and many dealers don't even want to mess with them.
Also, I can tell you I picked up a lot of coins through low priced auctions for graded coins setting fixed bids at the last minute, the ended prices far less than what I would have paid for grading alone but usually win only modern coins like that where there are fewer bidders and perhaps bad timing for the auction. This doesn't seem to happen for example with collectible coins, silver etc. Once in awhile that could be experience of the seller just throwing up stuff in auctions without consideration too much of maximizing individual value of each coin.
As far as bulk, I'm not sure how much are coming from that because they would usually just not grade it when it fell below the desired grade, although its possible with the discounted rate when they chose to grade in bulk they can make a profit where normally you wouldnt grading just a few, or at least take a smaller loss on those where the profit came from the ones that were the top grade in the submission, and dumping the rest as suggested.
https://www.pcgs.com/services/bulksubmissionsEdited by datadragon
12/18/2023 11:22 pm
First Page
Posted 12/18/2023 8:20 pm
