Customer Upset At Coin Shop Over His MS-70 Bullion Not Worth Much.

The dealer is absolutely right!
I am not surprised the seller (to the dealer) has come away disappointed.

There is a whole chapter in the 2014 U.S. Coin Digest (Krause Publications):
"Don't be Fooled by High Grade Coins".
The subject is about perfectly pristine MS70 ASE's and similar. Not all MS70 coins are rare; a lot of MS70 bullion silver coins are, in fact, very common. That also applies to Australian .999 one ounce silver Kangaroos.

I would think slabbing them is rather a waste of time, because they are common enough in MS70.
Recovering of grading and return shipping fees to make a profit on the sale of a modern MS70 silver round would be questionable.

IMO, unless a coin has a potential value of more than $100, slabbing is not justified.

If you want to keep your pristine MS70 as it is, just keep it in a clear acrylic capsule, an sell it raw, if you need to.

John, your eyes are still good. Supply and demand. There apparently are no 1991 ms70 ASEs in PCGS holders. NGC lists 196 out of 94907 with rather exorbitant prices https://www.NGCcoin.com/price-guide...on-coins/76/. What are we missing?

What grading company where the slabs?

I'm always amused that HSN sells things with a 100 to 200% markup and they get accused of ripping people off but when dealers try to buy stuff at 4 or 5% of real value they are OK.

I remember a few years back when a famous California coin shop purchased some stolen coins from the Dupont collection for less than 1% of fair value the dealer expected praise when he turned them over.

There's almost nothing that will get a fair price at the local coin shop. Maybe a '14-D Lincoln in F will get about 60% of bid but most coins get low ball offers.

Even RedBook lists moderns at a fraction of true value. US coins dated after 1964 should be compared to the actual value they bring on the market because the even guides are wrong, out of date, or have low ball prices.

The modern markets will do much better when there are realistic price guides based on auction results rather than what modern bashers print out year after year.

The dealer was an idiot if that 91 was in PCGS or NGC slab. Even a 91 ASE ms70 in an anacs slab is still worth what, about a grand. I don't care what it is, if I can make $500+ on something I will nomatter what it is or what preconceptions are involved

I do wish to defend the LCS, at least in general. None of the LCS in my area will pay 5% of what they can sell it for. They pay a high % of spot for bullion to start off with, and as they do not have the market to sell all slabbed coins at the maximum, they have to pay substantially less. However, for stuff with a good market, they will pay quite a bit more than 5%.

They will pay cash on the spot, and take all the risk. Under these circumstances, it is not unfair for them to pay quite a bit less than a national auction house. I hasten to mention that I do not own a LCS, but I do know many dealers, and have a good idea of their operations.

That being said, of course not all LCS are equal, and some are less fair than others. My LCS sometimes advises people to either keep the stuff or go to an auction, but will pay them his low price if the person really wants to sell.

Much as I like my LCS, I would not try sell some of my material to him since I know what his market will pay.

Oriole.. Today's lcs's are, by and large, nothing more than a place to buy coins and pm's cheap to resell on ebay. If they won't pay $500 for an ms70 in a top-3 slab (assuming it was) then they are clueless IDIOTS. Maybe a touch less if it's anacs but still. They won't be in business long if they can't or won't take that kind of profit all while alienating a seller with decent material at the same time. Ridiculous!