What Do You Think Of The Grade "70"

PCGS now charges $12 for bulk submissions.
http://www.pcgs.com/services/bulksubmissions.html br /

The other important point, is that bulk submitter can designate minimum grade (69 or lower) and not pay for those coins. So when you buy a coin in OGP from APMEX, you're getting grading rejects. Also, that's why you see so very few low grades.

I understand a bulk submitter can send in 1,000 ASEs and tell PCGS they only want the ones that grade 69 or higher to be slabbed.. but are you also saying the submitter doesn't have to pay the grading fee for any coin that scores 68 or lower?

70's are the latest and greatest hype. Realistically speaking, there may well be no objective difference between a 69 and a 70. Grading at that level is as much art as it is science. The 70 thing is a stock market craze. Get on board low and sell high. Like most hype, it will die down eventually. It is an attempt by dealers and TPG's to create scarcity, and thus drive up prices. If 70's are your bag, have at it, and have fun. Seriously. But I have a suspicion that down the road a 70 in a series that has a million plus in mintage isn't going to be all that valuable compared to its brethren. Sure, in some case, they'll be worth more due to 'conditional scarcity' but this mad rush to have everything graded a 70 won't last, because in the long run, scarcity is determined only in part by condition, other things, like mintage, wear (for a poorly designed coin), the amount held by collectors (think of coins struck specifically NOT to be circulated), as well as initial cost will determine the market value down the road.

Personally? I don't bother with 70's. If the right one came along at the right price, then sure, I'd buy it - but that's my attitude with any coin based on grade - the right coin at the right price. It could be an XF, an AU, an MS-63, whatever. I let the specific coin I am looking at determine what I'm willing to pay.

@cc99999

The link you posted was good. I understand what the guy is trying to say. But like I have said before, when I first joined this site, I said that I don't want to sell my coins.
That website was more about people who buy coins to sell, not ones who are buying because they enjoy them.

But I did in fact try to think of what modern coins would rise in value later in like 10 or 20 years. The coins that did shoot up crazy were Jefferson nickels.

Id actually bet youd get more than that out of it. The threshold seems to be more for bulk submissions of older coins.

Now if you sent in the 5 star general ms half you may not, but thats the exception not the norm

I Take that as an insult I have been collecting since age 15 and am now 67 and feel I am a true Collector and I Love 70s especially in the Silver Eagle

Personally, certain coins - especially proofs, I feel are fun to have in 70. There's just something about holding and looking at a coin that's flawless.

I prefer to cherrypick raw 70s than to buy graded ones, but that's me. It's not that easy to do, but the hunt is fun.

I certainly don't get hung up on having a 70, but I've seen 69s that are really 67s and I've seen 69s that are so 69 plus that are worth having to me.

I'm sure the registry set folks have different reasons - and there's nothing wrong with those reasons in my book though I don't collect like that - but mine is just because there is something quite incredible about having a very-nearly-flawless coin coin in my hand, especially if its a design I love. : )