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How Bad Is This Deal?

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Valued Member
United States
54 Posts
 Posted 05/04/2018  11:25 pm Show Profile   Bookmark this topic Add D-Train to your friends list Get a Link to this Message
I've been getting mail from a company called PCS Stamps & Coins.
They are trying to sell me a set of 5 Morgans, 1 from each of the 5 Mints, all are slabbed and NGC graded MS-64. Also included is a nice wood display box. there is no guarantee of what years you will get, just that you will get one Morgan from each mint that is NGC slabbed MS-64.
Total cost is ~$240 and you will get one coin every 3 months, the display box is free and shipped with the second coin.

So each coin is a little under $50. I'm going to figure the box may be worth ~$40 so each coin would average about $40, NGC grading is worth ~$20 per coin, so this seems like a fairly good deal. What do you guys think?
Should I pull the trigger?
Thanks!
Bedrock of the Community
10197 Posts
 Posted 05/04/2018  11:37 pm  Show Profile   Bookmark this reply Add Crazyb0 to your friends list Get a Link to this Reply
Isn't PCS the counter/breakaway from Littleton Coin(the brothers split the stamp and coins when papa died)?. Its your money, but anything from an "outfit" is their gimmick. I found Littleton to be rather high in price and abundant in gimmick offers. I signed up for their view a coin before you buy, only to find out if I didn't buy it, I HAD TO PAY the return shipping! Couldn't hardly get them to quit bugging me two years after I cancelled. Be cautious with their gimmicks, get their hooks in ya, will give ya Lots of Deals!

And, I bet three mints, (P,D,S) will all be 1921. There were tons slabbed of these cheep! $50 isn't a deal on an MS61/62 1921P! I can buy em for $30 at auctions.
Edited by Crazyb0
05/04/2018 11:42 pm
Pillar of the Community
United States
8715 Posts
 Posted 05/04/2018  11:39 pm  Show Profile   Bookmark this reply Add SilverDollar2017 to your friends list Get a Link to this Reply
I rarely buy coins from those "random date slabbed coin" gimmicks. You can't pick a coin yourself that has good eye appeal. I always look at the exact coin I'll be receiving, online or in hand.
Valued Member
United States
54 Posts
 Posted 05/04/2018  11:58 pm  Show Profile   Bookmark this reply Add D-Train to your friends list Get a Link to this Reply
I should also say that I have the option to reject any coin they send me, and can cancel anytime I want. Also, all of the coins will grade MS-64 by NGC, not MS-61 or 62. I think $40 per coin for an NGC graded MS-64 is not outrageous. It may not be a fantastic deal, but I don't think it's outrageous either. Keep the feedback coming.
Pillar of the Community
United States
5156 Posts
 Posted 05/05/2018  12:00 am  Show Profile   Bookmark this reply Add Jaobler to your friends list Get a Link to this Reply
The most common CC Morgan in NGC MS64 should be worth $150-200. Throw in the P, S, O, and D-mint dollars in the same grade and it sounds like a bargain. If you go for it please show off the coins!
Valued Member
United States
54 Posts
 Posted 05/05/2018  12:14 am  Show Profile   Bookmark this reply Add D-Train to your friends list Get a Link to this Reply
"The most common CC Morgan in NGC MS64 should be worth $150-200. Throw in the P, S, O, and D-mint dollars in the same grade and it sounds like a bargain. If you go for it please show off the coins!"

That's exactly what I was thinking! Surely ANY Morgan from CC or New Orleans graded MS-64 should make this a deal, right? I realize some of the P or S mint coins may only be worth $20 or so, but certifying and slabbing a coin costs that much so what's the catch? I'm just wondering what I'm missing here.
Pillar of the Community
United States
698 Posts
 Posted 05/05/2018  12:29 am  Show Profile   Bookmark this reply Add chipjones to your friends list Get a Link to this Reply
The initial offer may be ok. But as Crazy said it's a coin of the month club.
Any coin you don't want you pay to send it back. Cancel anytime they will still send you coins. And you get stuck paying. And if you forget you just bought a coin you don't want. Ben there done that.
Pillar of the Community
United States
8715 Posts
 Posted 05/05/2018  12:31 am  Show Profile   Bookmark this reply Add SilverDollar2017 to your friends list Get a Link to this Reply
Can you post a link to this offer?
Pillar of the Community
Learn More...
United States
3724 Posts
 Posted 05/05/2018  08:15 am  Show Profile   Check chafemasterj's eBay Listings Bookmark this reply Add chafemasterj to your friends list Get a Link to this Reply
I'd be curious to see a link to this offer too.
Check out my counterstamped Lincoln Cent collection:
http://goccf.com/t/303507
Pillar of the Community
United States
2924 Posts
 Posted 05/05/2018  08:52 am  Show Profile   Bookmark this reply Add srs77 to your friends list Get a Link to this Reply
I went to their website. After reading different deals I would avoid them. I couldn't find the deal the OP described but I did look at another.

They are offering all of the GSA Carson City dollars at a price of $449 per coin. Shipped one at a time with three monthly payments for each coin received.

Here's the catch, 'either party may cancel the series at any time '. This means they will send you the 1882, 83 and 84 probably with your first three shipments providing you continue and then they would cancel. You've just paid nearly twice what those first three coins should cost you with no chance at recieving the other more pricy years.

Now that's just my opinion but the fact that they say either party may cancel raises serious concerns for me...
ANA Member 3171274
Vamming? What's that?
Valued Member
United States
338 Posts
 Posted 05/05/2018  11:27 am  Show Profile   Bookmark this reply Add nutmeg to your friends list Get a Link to this Reply
it becomes a problem when you have to pay return shipping for the coins you don't want.
Pillar of the Community
United States
2572 Posts
 Posted 05/05/2018  3:21 pm  Show Profile   Bookmark this reply Add Slider23 to your friends list Get a Link to this Reply
Below are the low end of auction for 5 coins with each mint mark.

21 - $40
21 D $90
81 S $50
84 O $50
84CC $200

The low end auction value is around $430 for the 5 coins. There has to be a catch as the dealer can not make any money selling the coins graded at NGC MS64 for $240. The dealer could sell the coins at auction for $430, so why is the dealer selling the coins for $240?
Edited by Slider23
05/05/2018 3:23 pm
Pillar of the Community
United States
992 Posts
 Posted 05/05/2018  3:42 pm  Show Profile   Bookmark this reply Add paxbrit to your friends list Get a Link to this Reply
The reality is, you can buy slabbed UNC 64s selected personally by you at any coin shop for less than $50 each, and you don't need the fancy box. The display box basically has no value, whatsoever.

Pass on the entire deal and eliminate a source of irritation in your life. No one fails to regret ending these arrangements with mail schemes.
Bedrock of the Community
13014 Posts
 Posted 05/05/2018  6:59 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
Now that's just my opinion but the fact that they say either party may cancel raises serious concerns for me...


This. I'd never do anything where the seller can cancel at any time when you know you're overpaying some for the first few things.
Pillar of the Community
United States
1880 Posts
 Posted 05/05/2018  7:09 pm  Show Profile   Bookmark this reply Add steve199 to your friends list Get a Link to this Reply
The "deal" is listed on their website. It is $246 PER COIN.

So not such a good deal.
Valued Member
New Zealand
148 Posts
 Posted 05/05/2018  7:44 pm  Show Profile   Bookmark this reply Add Aoraki to your friends list Get a Link to this Reply
Google the company. There are literally pages of complaints about their scam tactics.
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