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2010 Proof Silver Eagle PF 70 How?

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Bedrock of the Community
United States
17884 Posts
 Posted 11/15/2010  11:10 am  Show Profile   Bookmark this reply Add Conder101 to your friends list
He's just playing the odds. He knows that a significant percentage of proof eagles will come back as PF-70. He knows that if he send in X number of proofs he should get back Y number of 70's.
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United States
2448 Posts
 Posted 11/15/2010  12:40 pm  Show Profile   Bookmark this reply Add carmykle to your friends list
Amazing! How did he get a 2006 to look like a 2010. Oh that's right, he said he didn't have a pic yet.

And this is legal how? Have the 2010 even been released yet?
Edited by carmykle
11/15/2010 12:40 pm
Pillar of the Community
United States
1027 Posts
 Posted 11/15/2010  12:56 pm  Show Profile   Bookmark this reply Add clairhardesty to your friends list
Since 2002 the percentage of PR70 SAEs at PCGS has been fairly constant at around 1 in 8 coins sent in for grading come back perfect. NGC probably has a slightly higher percentage, most people feel that NGC give out 70s easier than PCGS. If he ordered enough coins, he can be sure that some will be 70s. Interestingly, before 2002, the percentage of PR70 SAEs at PCGS was much lower and much less consistent. Basically, one year after West Point took over minting the Proof SAEs, quality and consistency went up and have stayed up.
Bedrock of the Community
United States
14454 Posts
 Posted 11/15/2010  1:29 pm  Show Profile   Bookmark this reply Add Bryan1315 to your friends list
he probably ordered 100 of them or even more with different addresses and then he sends them to NGC in bulk and chances are he will get over half of them PF-70 so then he knows he will be sending a PF-70 to the winner

Quote:
And this is legal how? Have the 2010 even been released yet?

that is why its a pre-sale. Nothing illegal about having a pre-release sale, just if something happens and you don't get what the person paid for within the 30 day limit ebay gives you then you return their money. People do it all the time on ebay
Valued Member
United States
463 Posts
 Posted 11/15/2010  5:58 pm  Show Profile   Bookmark this reply Add bryan1234 to your friends list
personally I dont get grading bullion, even though its a proof coin
Bedrock of the Community
United States
14454 Posts
 Posted 11/15/2010  6:10 pm  Show Profile   Bookmark this reply Add Bryan1315 to your friends list

Quote:
personally I dont get grading bullion, even though its a proof coin

its all about the registry game. The registry is the best marketing move the TPG's has ever created. I am surprised ANACS hasn't followed suit
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1213 Posts
 Posted 11/15/2010  11:58 pm  Show Profile   Bookmark this reply Add okiepb to your friends list
Yeah, but at some point it seems that people will get smart & realize that these aren't truly rarities and aren't worth the exorbitant prices.
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17884 Posts
 Posted 11/16/2010  10:03 am  Show Profile   Bookmark this reply Add Conder101 to your friends list
True, but until they do people will keep feeding the frenzy and laugh all the way to the bank.
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United States
53 Posts
 Posted 11/30/2010  07:18 am  Show Profile   Bookmark this reply Add cajun to your friends list
I have heard that the quality of the 2010 proof ASE's are not up to past standards and alot of people have been sending them back to the mint. If this is true, a PF-70 may bring very high premiums for the 2010 version. Time will tell.
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 Posted 11/30/2010  09:26 am  Show Profile   Bookmark this reply Add fenton to your friends list
I suspect that to preserve the TOUGH MS-70 rating, a coin needs to be put in high quality air tight slabs almost immediately after it is minted. I doubt mint packaging is adequate to preserve that rating over time.
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12437 Posts
 Posted 11/30/2010  12:07 pm  Show Profile   Bookmark this reply Add biokemist6 to your friends list
fenton, if you think TPG slabs are air tight, you would be mistaken. Coins can and do change in TPG slabs, especially copper.
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1027 Posts
 Posted 11/30/2010  12:28 pm  Show Profile   Bookmark this reply Add clairhardesty to your friends list
And all TPG slabs are not equal. PCGS and NGC are probably the best. They are as sealed as possible with the material used. Both are welded but I do not know if they use any kind of inert gas or simply seal in room air. ICG slabs are good too. ANACS has always had issues with sealing their slabs. Some are glued and not very well at that. I have no knowledge of third tier third party graders. The mint capsules, while not truly sealed, are actually a very good long term storage environment, provided the capsule is not exposed to environmental extremes.
Edited by clairhardesty
11/30/2010 12:30 pm
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2541 Posts
 Posted 11/30/2010  12:45 pm  Show Profile   Bookmark this reply Add Gothic Florin to your friends list
People won't get smart - they will just keep getting dumber and buy this kind of junk. I'll pay spot + a small premium for an Eagle, and maybe I'll cough up the $45 or so for a proof, but not some inflated some for a slab and a sticker. Far too much supply for it to ever really be worth a huge amount in my book...
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1027 Posts
 Posted 11/30/2010  2:53 pm  Show Profile   Bookmark this reply Add clairhardesty to your friends list
I don't see paying any premium for a coin simply becuase it is slabbed. That said, often MS/PR-69 coins in slabs can be picked up for the same price as raw, ungraded coins and in that case it comes down to a matter whim at the moment. Commercial bulk submitters can get coins graded and slabbed even at PCGS & NGC for only a few dollars per coin and normal price fluctuations can easily hide that cost. Since a raw coin could be a 68 or even less, such a case is one where a slabbed coin has value. I might well break it out of its cage once it is in my hands but that is just me, I am not likely to resell many of my coins. In terms of having my coins graded, it just is not something I am interested in doing. I am not into comparing my sets against others and I don't plan on selling my coins. I'll let my kids get them graded after I'm gone. Grading bullion only makes sense if it is going to get a 70 and only then if you are building a set or selling to those who do. Proof coins however, no matter what they are made of, are not bullion in my opinion. They are numismatic items, made as much for their beauty as art as for their value as metal. The same applies for those coins that the mint has so poorly chosen to call uncirculated (what was so bad about calling them satin specimens that you had to use a word that had a long established meaning in numismatics).
Pillar of the Community
United States
2734 Posts
 Posted 11/30/2010  7:38 pm  Show Profile   Bookmark this reply Add DNA to your friends list
I had to laugh when I saw an ad in Coin World offering to buy 2008
Gold Fractional Buffalos.

The prices offered to buy ungraded raw coins with all the OGP were
higher than the prices offered for MS-69 TPG-slabbed coins!
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