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PCGS Devalued Coin Prices.

 
 
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United States
12 Posts
 Posted 10/09/2019  1:14 pm Show Profile   Bookmark this topic Add Mokie 2-4-u to your friends list Get a Link to this Message
I have been collecting coins for the last 21 years hoping to resale them for a profit but recently PCGS devalued my coins I purchased a 1999 wide am ms 67 and ms 66 the value for the 67 was $2,750 and now it is $850 that was a $1,900 drop I can understand a small drop but $1900 any thoughts on this.
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United States
564 Posts
 Posted 10/09/2019  1:38 pm  Show Profile   Bookmark this reply Add Gincoin43 to your friends list Get a Link to this Reply
My thoughts: any newer variety has the chance to drop as people find and submit more of them.
Forum Dad
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20083 Posts
 Posted 10/09/2019  1:41 pm  Show Profile   Bookmark this reply Add bobby131313 to your friends list Get a Link to this Reply
It's not PCGS's fault.
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29497 Posts
 Posted 10/09/2019  1:41 pm  Show Profile   Bookmark this reply Add John1 to your friends list Get a Link to this Reply
to CCF. TPG's almost always over value their own slabs. Check eBay sold values and some auction houses.
John1
( I'm no pro, it's just my humble opinion )
Searched 5+ Million Cents Since 1971
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24580 Posts
 Posted 10/09/2019  4:06 pm  Show Profile   Check Errers and Varietys's eBay Listings Bookmark this reply Add Errers and Varietys to your friends list Get a Link to this Reply
More information about Die Deterioration? http://goccf.com/t/317950
Retired U.S. Mint Coin Die Set information. http://goccf.com/t/302961
Machine Doubling Tutorial. http://goccf.com/t/332421
Die states progression on coins. Scroll down, so you can see the different die state progressions. http://goccf.com/t/325638
Die Deterioration Doubling Tutorial. http://goccf.com/t/336470
Split Plate Doubling Tutorial. http://goccf.com/t/357614
2000 P LMC With Retained Struck Through error. http://goccf.com/t/357080
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41410 Posts
 Posted 10/09/2019  5:36 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Good think to remember when buying any expensive coin - there will never be fewer of them, only more, and this is especially true with a modern variety.
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United States
499 Posts
 Posted 10/09/2019  5:37 pm  Show Profile   Bookmark this reply Add Daves Errors to your friends list Get a Link to this Reply
Its only worth what someone is willing to pay or bid for it. I have seen coins priced HIGH and sold for ((( WAY LESS ))). If they are not selling THE PRICE DROPPS. As they say START HIGH THEN GO LOW to sell. Any coin value has the Potential of dropping OR going up.
Edited by Daves Errors
10/09/2019 5:41 pm
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 Posted 10/10/2019  1:17 pm  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply
How many MS67's had the slabbed at the time you bought yours as compared to today? If the number has gone up, the price goes down. Also in the early years of a new "hot" variety, prices are speculative and will latter fall to a market sustainable level. There are always a lot of collectors that HAVE to have the latest thing, and they overpay and push the price up. Then when the new hot item comes along the market cools and prices fall.
Gary Schmidt
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 Posted 10/10/2019  2:36 pm  Show Profile   Bookmark this reply Add Mokie 2-4-u to your friends list Get a Link to this Reply
Thanks for your response Conder 101,there were only 8 when I purchased my coin and when I checked David Lawrence had purchased his coin in 2011 and paid $2,300 for his coin then the coin I purchased came up for sale and I won the bid and thought I had got a great deal then the same person I purchased mine from also had 2 more and sold them about a month later pretty close to the same price I paid then around 9 months later I was checking out PCGS and noticed the value had dropped by $1,900 kind of hit me hard especially when in a couple of years I was going to resale my coin for a profit but not now unless the value goes back up the same coin has a FS-101 designation and there's only5 of them and there valued at $2,750.
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United States
392 Posts
 Posted 10/10/2019  2:43 pm  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply
The moral of this story is to not buy slabbed coins ;)
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 Posted 10/10/2019  10:34 pm  Show Profile   Bookmark this reply Add coop to your friends list Get a Link to this Reply
Or don't fall for PCGS suggested values. But by the grade on the slab, on a dealers coin price list and go by that instead.
Richard S. Cooper
Some have asked about my images I use and I'm glad to say, you can now you can see the DVD in sections on youtube:
1. Intro, older coins, toned coins 2. Doubled dies 3. Die events, One of a kind errors 4. So called errors, Coin information 5. Coin information Types and Varieties, Overlays
Jefferson nickel doubled dies Wexler/Rebar complete listings

trail dies:http://www.traildies.com/
Valued Member
United States
115 Posts
 Posted 10/10/2019  11:33 pm  Show Profile   Bookmark this reply Add Sasquatch to your friends list Get a Link to this Reply
Buy the coin not the slab. The only thing the slab does for me is show it is genuine.

As for pricing, I watch what coins sell for on ebay and at auctions. I ignore the retail price, especially the sellers.
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United States
1745 Posts
 Posted 10/11/2019  01:32 am  Show Profile   Check tropicalbats's eBay Listings Bookmark this reply Add tropicalbats to your friends list Get a Link to this Reply
Most registry grade varieties seem to have shown a sustained drop in price over the last five years. A couple have gone up, but most have gone done quite a lot. Not sure if that is because the collectors who want them now have them and only second tier folks are bidding on them not looking for a registry coin but just a nice example, or a lack of interest. But yes, top variety coins in general are worth less now than not that long ago.

That dynamic changes over time, but in general over long periods of time, so I suspect this is a pretty good time to buy variety coins, and less favorable for selling them. That said, I am in agreement with the comment that over time, there will be more of them found not less of them, so prices may not ever reach previous levels.
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