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Did I Just Buy A Fake PCGS Coin? 2019-P Quarter

 
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 Posted 02/09/2020  08:53 am Show Profile   Bookmark this topic Add mojo423 to your friends list Get a Link to this Message
*** Edited by Staff to Add Year / Mintmark / Denomination to Title. Titles are Important! ***

I just won this coin on eBay. I paid about $10 which seems way to low. It's a 2019 P America Memorial quarter. I noticed after the auction the PCGS site doesn't have a price listed for MS 67 on the quarter.




*** Edited by Staff to crop and/or rotate images. Please crop and correctly orient images before uploading. This can be done with most built in software on phones and MS Paint on most PCs. You can also use the free image optimizer. ***
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 Posted 02/09/2020  09:19 am  Show Profile   Bookmark this reply Add T-BOP to your friends list Get a Link to this Reply
Did you look up the registration # ?
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 Posted 02/09/2020  09:26 am  Show Profile   Check edweather's eBay Listings Bookmark this reply Add edweather to your friends list Get a Link to this Reply
Looks real.
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 Posted 02/09/2020  09:37 am  Show Profile   Bookmark this reply Add John1 to your friends list Get a Link to this Reply
( I'm no pro, it's just my humble opinion )
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 Posted 02/09/2020  09:56 am  Show Profile   Bookmark this reply Add mojo423 to your friends list Get a Link to this Reply
I was putting in the entire number. Thanks everyone.
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 Posted 02/09/2020  12:56 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply
It's real
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 Posted 02/09/2020  8:28 pm  Show Profile   Bookmark this reply Add Ballyhoo to your friends list Get a Link to this Reply
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 Posted 03/28/2020  5:39 pm  Show Profile   Bookmark this reply Add Big-Kingdom to your friends list Get a Link to this Reply
It's real. They probably just hadn't updated the population report to reflect it yet. I think it's a good buy for $10.
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 Posted 03/28/2020  7:07 pm  Show Profile   Bookmark this reply Add Ballyhoo to your friends list Get a Link to this Reply
Genuine.
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there's no problems only solutions - the late, great John Lennon
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 Posted 03/29/2020  12:15 am  Show Profile   Bookmark this reply Add jonnin to your friends list Get a Link to this Reply
. isn't that about 1/2 the price of just having it graded, ignoring the coin's value entirely? Anyone know how this would play out? Or am I seriously misreading how the fees for grading work?
Sorry to hijack, just curious as to how the math works there.
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 Posted 03/29/2020  11:42 am  Show Profile   Bookmark this reply Add Big-Kingdom to your friends list Get a Link to this Reply
Jonnin. People lose on grading all the time when they go to sell. Making $10 off it is likely better to that person than it sitting and making nothing on it.

Also depends on membership level, they could just be counting it as one of the free submissions with their annual fee.

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 Posted 03/29/2020  12:10 pm  Show Profile   Bookmark this reply Add jonnin to your friends list Get a Link to this Reply
Thanks,
I had been wondering how / why so many < $30 coins are being sold graded at a loss. I guess I am not ready for that level of dedication
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 Posted 03/29/2020  12:19 pm  Show Profile   Check CalzoneManiac's eBay Listings Bookmark this reply Add CalzoneManiac to your friends list Get a Link to this Reply
A lot of people do bulk submissions with modern coins. Usually the 68s and higher are kept and 67s and lower become "freebies".

Usually this is done with the ASEs but it can be done on other modern coins.
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 Posted 03/29/2020  2:30 pm  Show Profile   Bookmark this reply Add BStrauss3 to your friends list Get a Link to this Reply
Play with the economics... and remember big dealers get better rates...

https://www.PCGS.com/services/bulksubmissions


Quote:
With Bulk Submissions, you may indicate one (1) minimum grade on your submission form. PCGS will holder any coins that meet or exceed the requested minimum grade. No minimum MS or PR 70 submissions will be accepted. If you will accept any grade, please indicate that on the submission form. If no minimum is requested, all coins will be graded. Genuine Services (Genuine with Details and Genuine no Details) are not available on Bulk submissions. Below is the current pricing for orders with a minimum grade listed:

If 60% of the coins submitted meet or exceed the minimum grade, each holdered coin will be charged $12. The coins that do not meet your minimum grade will be returned to you unholdered with no charge.
If less than 60% of the coins submitted meet or exceed the minimum grade, each holdered coin will be charged $12 while the unholdered coins will be charged $5 each.


Take the Frederick Douglas 2017P PCGS#625520

Population is
2 MS64 (price guide $4)
39 MS65 ($5)
163 MS66 ($7)
1 MS66+ ($8)
12 MS67 ($23)
1 MS67+ ($40)
1 MS68 ($750)

Based on that, let's submit a bag of 100 coins.

If you pick a minimum grade of MS67, you get 37% and pay the higher fee... 37*12+63*5 = $759 plus your $119 cost for the bag...

And you can sell them for $440 plus 63 spendable quarters for a total loss of $419.25.

If you pick a minimum grade of MS66 or MS65, you pay a lot more in slabbing costs, but don't incur the penalty $5 charge. Still it's a net loss of $365.75 or $452.75

If you luck out and score that 2nd MS68, you make money... but if it was easy, everyone would do it.



-----Burton
46 year / Life ANA member (joined 12/1/1973)
Life member: Numismatics International, CONECA
Member: TNA, FtWCC, NETCC
Owned by four cats and a wife of 35 years (joined 1983)
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