| Author |
 Replies: 17 / Views: 4,448 |
Page 2 of 2
|
|
|
|
Bedrock of the Community
13014 Posts |
Quote:
I also thought I would be safe if I just bought graded coins, but now I'm reading that there are fake holders or people are manipulating the numbers on the holders or doing something to them. The fakes really arent as bad as they get made out to be on internet boards especially for graded coins. As long as you arent scouring the corners of the internet for the cheapest price ever your chances of running into a fake slab are minimal. Yes coins are faked and some are faked a lot, but keep in mind the reason why you hear about the fake stories a lot are because those are the things that bring people to a site to discuss. The run of the mill every day sale isn't the exciting thing that gets people talking usually so fakes get disproportionally represented |
|
Valued Member
United States
317 Posts |
Anyone interested in buying the aforementioned coins should look at some market prices before buying those coins anyway because the mint will price its gold according to the gold prices set by the market.
Anyway, Bloomberg just released an article "Gold Bulls Cut Wagers on Signs U.S. Growth Quickens" saying that the price of gold is suppose to go down this week.
And since gold is hovering around 1300 an ounce there is a good chance that if people wait. gold might get a lower bracket price going to 1250 but we'll see how the mint prices its gold products in the next 2 weeks. So pay attention to the spot price if you're considering buying the reverse buffalo because you could get the coin at a discount.
|
|
Pillar of the Community
United States
2764 Posts |
Bizybackson had made some good points. I agree with him that the Buffalo Reverse Proof is the top choice. You can see the other thread about the Buffalo Reverse Proof here: https://goccf.com/t/154930 |
|
Valued Member
United States
317 Posts |
You make sense basebal on this issue saying don't judge all the apples based on one bad apple, but I'm not only referring to the fakes.
Even when I look at a graded coin there is suspicion.
How many times have you looked at a graded coin and said there is no why that coin in that holder deserves that rating?
My point is: even the grading services lack consistency. One major grading firm might grade the same coin differently than another firm. Or the firms themselves grade a coin differently a few years later.
Or I remember hearing not too long ago about either pcgs or ngc having a harsh grading on a particular series about 10-20 years but recently have been loosing up their standards on that particular series so people have been encouraged to resubmit their coins. I don't know I was watching something about that a few months ago.
But anyway, the grading firms just seem wishy washy to me, lol.
For a $50 coin if something didn't work out id be a little upset, but if I put down 1oz gold or 1oz platinum money on the table for a coin . . . .I'm questioning everyone and everything. Now that's just me. but I'll leave those type of purchases up to more experienced people, I like my under 200 atbs from the mint for now.
|
|
Bedrock of the Community
13014 Posts |
Quote:
How many times have you looked at a graded coin and said there is no why that coin in that holder deserves that rating? It really depends on the coin and the series. Even if I see a couple I dont like, its important to keep it in perspective that theyve likely done a couple thousand of them. It also depends on the company, to me NGC is the one with the most inconsistency but it is run by humans so perfection cant be expected. That said theres nothing wrong with passing on a coin you dont agree with for one you do or one you like better. Quote:
Or I remember hearing not too long ago about either pcgs or ngc having a harsh grading on a particular series about 10-20 years but recently have been loosing up their standards on that particular series so people have been encouraged to resubmit their coins. I don't know I was watching something about that a few months ago. Thats kind of turned into the numismatic version of a tall tail. The rumor is that their older holders like the PCGS green label ones would upgrade if resubmitted today. That was true for some of them and the majority of those have already been resubmitted for the higher grade. Where the tall tale comes in is that a lot of people treat the old holders like theyre a grade higher just because theyre the old holder. Dealers like it because they can ask more for those coins and the TPGs like it because it gets them resubmissions which means more business. The reality is more along the lines that some could grade higher, but its no where near as automatic as the rumor would lead you to believe. Quote:
But anyway, the grading firms just seem wishy washy to me Its really just no different than anything else in life. Real estate, cars, companies, antiques ect, theyre all based off of 3rd party assessments. Thats all the TPGs do for coins. Unlike the dealer trying to sell it they have no financial interest in pumping up the grade, in fact you could argue the opposite since it puts them on the hook for more money if a buy back situation happens. Of course this only applies to the legitimate TPGs not the basement slabbers which are basically in business to help people take advantage of new or unknowing collectors. Edited by basebal21
08/05/2013 9:29 pm
|
|
Bedrock of the Community
13014 Posts |
Quote:
Do you think things like Reverse Proof Coins are just mint gimmicks for novice investors? The Reverse Proof Silver ASEs have been some of the better performing coins in-terms of price appreciation. Last I checked the 2011 RP was selling for more on its own than the set sold from the mint. Its definitely not something shunned by serious collectors, and have been gorgeous so far in my opinion. Quote:
What is / can a relationship be explained between numerstic value Cumulative Numismatic Sales Figures and Mintage Limit Product Limits or is it simple supply and demand in the end? In the end its all supply and demand. Lower mintages give you a better chance of supply being over taken by demand but its not an assurance. If more people want it or enough people want it that they get hard to find the price generally goes up, if not they stay flat or even fall in price sometimes. |
|
Pillar of the Community
United States
1817 Posts |
It is also a question of ready money for the average collector. $1,690.00 is going to price out at least 98% of the collectors that want one, so the RP Buffalo has a very good chance of being cornered by the big boys with the deep pockets, the corporate coin companies will buy up at least 85-90% of however many will be sold, so rapid price maturity will happen on this coin. I suspect that the Mint will take their time fulfilling the one-off orders, the big boys will get their coins graded and televised before any of us will see ours. So even if AU takes a hit by November 1st to $1,000, the coin would be worth twice that because of the mass marketers and perhaps to $2,500-$3,000 by year's end in a PR70 holder, because the big boys have enough inventory to call the shots and the average collector tends to have other summer activity other than coins, so it adds up to a no-lose situation for BV1.
|
|
New Member
United States
3 Posts |
What! is beautiful and interesting information about ab proof Gold Rev.
|
|
Pillar of the Community
United States
2764 Posts |
I totally agree with Bizybackson. However, the market price after the release period (once all orders are fulfilled), will tend to soften a bit and then it will start to pick up in about 1 year cycle.
Just look at the historical trend for the 2009 UHR gold coin and the 2001 Silver Buffalo Commemorative coins. The buffalo design is VERY popular among serious collectors (that's why in 2oo6 the USMint started the 1oz 99.99 pure Gold Buffalo series).
|
|
Valued Member
 United States
95 Posts |
Hi all, Took my chances, pulled the trigger purchased one BV1 and one BU7 I'm hoping Bizybackson shines through and the BU7 is a low mintage sleeper coin  , if not I'm happy with my purchase anyway. I think the price will drop, but as someone I know once told me ask any expert what they think about any market and they will tell you "could go up may go down" It's a buy and hold for me. I do have a question I read someplace that to have the coin graded the case must remain unopened why? |
|
Bedrock of the Community
13014 Posts |
Quote:
I do have a question I read someplace that to have the coin graded the case must remain unopened why? Thats only if you want the FS/ER label from PCGS/NGC. For those if you ship after the first 30 days you have to have a sealed box from the mint you send in. If you arent worried about that it doesn't matter. They actually prefer you remove the coins for non fs/er submissions and put them in a mylar flip. |
|
Valued Member
United States
95 Posts |
Quote:
Thats only if you want the FS/ER label from PCGS/NGC. For those if you ship after the first 30 days you have to have a sealed box from the mint you send in. basebal21, How desirable is doing this and does it really equate to a huge increase in value? I'm new so learning the ropes to doing this plus the expense plus having to find a LCD to work with to submit plus competeting with all the experienced folks who have this down I don't sell on the bay so that's all something new to me. I just question for a newbie is it worth it, I don't intend to flip the coin just hold for value. -DJ |
|
Pillar of the Community
United States
919 Posts |
It will be hard for the little guy to do this. I bought my reverse proof the day they went on sale (8/8) and the shipping date is 9/8. That puts it right on the edge of the 30 day requirement for ER/FS. I'm sure the big houses are getting theirs much quicker.
|
|
Bedrock of the Community
13014 Posts |
Quote:
I just question for a newbie is it worth it, I don't intend to flip the coin just hold for value. More than likely its not worth it especially if youd only be sending in one. For moderns you HAVE to get a 70 to see appreciation, there are a couple exceptions to that but its very rare for non circulating coins. For coins like this theres no chance there wont be any 70s. Chasing 70s generally isn't a good idea, especially if you can only send in 1 maybe 2 coins. Id look for a place selling them for a decent price and just hope it appreciates in price. Sometimes it works out where you got a really good one from the mint, a lot of times though you usually get a 69 back. Unless you have a dealer you REALLY trust though Id highly recommend just getting the membership yourself and handling your own submissions. |
|
Valued Member
United States
95 Posts |
All, Thank you the great feedback and knowledge shared with a new guy, CCF = Warm Fuzzies  |
|
Page 2 of 2
|
Replies: 17 / Views: 4,448 |
Page 2 of 2
|
First Page
Posted 08/05/2013 12:23 pm
