| Author |
 Replies: 7 / Views: 7,381 |
|
|
New Member
United States
12 Posts |
My brother, as an investment, bought 3 years' worth of silver proof State Quarters on ebay, slabbed by Millennium Coin Certification Services. I can find no mention of this 'grading company' anywhere except on ebay. And the website on the back of the slab is apparently bogus, http://www.mccscoins.com. On the slab it says they are PR70 DCAM. I am no coin grader, and my brother is no collector. Was this a ripoff, or do these coins have some value? Here are some pics:  label1.jpg" border="0" style='cursor:default' onClick='doimage(this,event)'>  CIMG1278.jpg" border="0" style='cursor:default' onClick='doimage(this,event)'>  CIMG1277.jpg br / " border="0" style='cursor:default' onClick='doimage(this,event)'>  CIMG1275.jpg" border="0" style='cursor:default' onClick='doimage(this,event)'> |
|
|
|
Pillar of the Community
United States
954 Posts |
The first thing your brother did wrong was buy coins as an investment. Then he didn't do his homework a second time by buying MCCS coins. These coins will carry very little value over raw coins.  Edited by Becky
01/02/2007 12:21 pm
|
|
New Member
 United States
12 Posts |
quote:
Originally posted by Becky
The first thing your brother did wrong was buy coins as an investment. Then he didn't do his homework a second time by buying MCCS coins. These coins will carry very little value over raw coins.
That's what I was afraid of. I ain't telling him. |
|
Moderator
 United States
23522 Posts |
Round-bottom slab, right? MCCS is no longer in business. In my estimation, the quarter shown *might* make DCAM, but 70? Um, no. That's about a $7 coin, in other words about 1/5th of what an unslabbed Proof Set is currently going for.
I hate to make it worse for you, but you'll be doing him harm by not telling him - he'll just go out and spend more good money after bad. Point him to this thread.
|
|
Rest in Peace
United States
2684 Posts |
Hi TLW and welcome to the forum! This is a friendly and highly knowledgeable group, very willing to help out.
I also believe you'd be doing your brother a disservice by not advising him about the dozens or hundreds of alphabet basement grading companies which are mostly fraudulent in design and operation. You put this thread in the right forum - there's plenty of other grading companies in the same league as MCCS and we've discussed many of them in depth. Not telling him could lead to false beliefs and presumptions on his part regarding the value of his estate and liquidity of his investments making financial planning difficult if not impossible.
The best advice was given by Becky: education, education, and more education before buying. Coins can be a good investment, but ONLY if the buyer knows what he/she is doing. Otherwise, coin purchases become merely an expensive lesson in economics.
Fred
|
|
New Member
United States
12 Posts |
I showed him this site. I think he'll research a bit more before buying any more coins. And if not, I've got an MS68 red 1955-S Lincoln from GGC he'll absolutely love!   4314_1.jpg" border="0" style='cursor:default' onClick='doimage(this,event)'> |
|
New Member
United States
12 Posts |
quote:
Originally posted by SuperDave
Round-bottom slab, right? In my estimation, the quarter shown *might* make DCAM, but 70? Um, no.
I feel you may be misled by the haste in which I took the pictures. Try this: Image:  CIMG1287.jpg80.15 KB No? |
|
Bedrock of the Community
United States
17884 Posts |
MCCS was a legitimite service that was around for about two years or so. At one time that website was an legitimite one. They used two different slab varieties with the major difference being that the first type did not have the company logo in color, and the companies name was spelled wrong. Millenium.
|
| |
Replies: 7 / Views: 7,381 |
|
Posted 01/02/2007 11:59 am
CIMG1287.jpg
