| Author |
 Replies: 14 / Views: 1,861 |
|
|
Valued Member
United States
264 Posts |
Since I am still waiting for the drop in silver bullion, my eyes have been drawn to NGC graded silver on ebay to satisfy my hobby desires. While playing around, I found you could find some nice deals on the term "NGC MS 67" in ebay. The coins look great in the case so the temptation to buy was to great.  I won an auction for a 1 oz. Silver Kookaburra that was NGC MS 67 and actually less than similar auctions for non-graded versions of the Kookaburra!  What is the added value at coin shops for NGC gradings this low if any? |
|
|
|
Pillar of the Community
United States
2295 Posts |
I don't understand why someone would want to grade bullion? It isn't a coin, so why bother grading it? Bullion is meant to use as bullion and I don't see why grading should matter, but I imagine there are people that like to collect graded versions of it and will pay above value for the really highly graded ones. Like 68+. I wouldn't think a 67 is high enough to warrant any extra value above what it is worth and you did find that out yourself, so I think you answered your own question.  Plus did the ones that weren't graded, look in better condition than the 67? If so, then that is why they sold for more. |
|
Bedrock of the Community
United States
14454 Posts |
usually you can get MS/PF-69's for the same price and sometimes lower than you can get raw versions of the same modern bullion coins. If I see one graded 67 I think it has to be a dog and would not be something anyone would ever want in their collection. I look at those a a hoarders coin and worth the silver content. I am sure any dealer would think the same thing even if its graded by NGC or PCGS, its just not a coin a collector would really be looking to add to their collection. Hoarders and collectors are different, a hoarder will collect it no matter how it looks because of what it is or because of its content, a collector is more choosy and they like better quality items and even though they know it means they will acquire less items, it will be better quality than what you would find in a hoard
|
|
Rest in Peace
United States
9104 Posts |
What's gonna happen when all of an issue is ms70? Is there still gonna be a 4-10x premium for slobbed issues?
|
|
Pillar of the Community
United States
3670 Posts |
It seems to me in most cases you are just paying big bucks for the plastic, and the ONLY way I even care about adding any, is if it brings big money over spot, and I can get it for way less then that.... Have I wasted money on plastic in the past in my short time in this hobby, heck yeah I have. And as they say, you live an you learn, usually the hard way in my case. Oh well, those slabs are long sold, so they did move, an for about the fifteen bucks or so over spot they brought.... Like I grabbed a couple ASE's from a basement grader, the company with the American flag on them, and the Eagles in them were amazing true Ms-70's for a cheap price on ebay back when silver was around 40 bucks per oz., and I won them for 52 an 53 total seems like, so about 12 to 13 over spot price. Not exactly putting you in the poor house at those minor overpaying numbers. Again, great looking coin so who cares. Of course many on ebay will pay hundreds for that grade, rare coin. I can't bring myself anymore to pay big money for one stinkin oz. of silver. I may toss out 20 over spot fro a real nice Britannia or something, but that is about it anymore, as I can get silver to close to spot where I work.... Now the company that I work for in Southern Bullion does not accept but the two top dog grading company's, everything else is just nice coins sealed in plastic as far as they are concerned. And that is not always easy to explain to a family for example, who inherited their late father's estate, as they are selling it all an breaking up amongst the family. As to say, sorry we are paying 18.25 for Morgans and that just is what it is, baring a rare date or something, like a 1928 Peace dollar.... Edited by Silverhawk74
01/31/2012 11:40 pm
|
|
Pillar of the Community
United States
1432 Posts |
Quote:
As to say, sorry we are paying 18.25 for Morgans WOW! Based on yesterday's $33.50 opening spot price, there was $25.91 silver in each Morgan. That's only 70.5% of spot. My local silver buyer was paying $27 yesterday for common 21's & $1-2 higher for other dates. IMHO nobody is melting Morgans today since they all hold a numismatic premium over bullion. |
|
Pillar of the Community
United States
3670 Posts |
Uh, we don't actually melt them, lol. They go to clearing house, and back out to another store. And that figure that I tossed out was just an example figure, an had nothing to do with current market....
|
|
Valued Member
 United States
264 Posts |
Thanks for the all the advice. From what you all seem to be saying, the ungraded Silver Kookaburra's are selling for a high premium because of their potential to eventually be a MS 69 or 70. I bought the NGC 67 Silver Kookaburra for approximately $1 above silver bullion spot at the time, plus shipping. Yes, I knew it was not a high value piece like a MS69. Again, thanks for all the help! |
|
Rest in Peace
United States
9104 Posts |
Quote:
Based on yesterday's $33.50 opening spot price, there was $25.91 silver in each Morgan. That's only 70.5% of spot Gnu maf? You realize a silver dollar only contains .7734 oz of silver, right? |
|
Valued Member
United States
89 Posts |
^ Sadly that is one no 1 mistakes people make in ebay I have seen so many fractional silver coins going at #35+ bucks simply because people think those coins are 1 oz and in some cases seller even clearly stats the coin weight. |
|
Pillar of the Community
United States
1432 Posts |
Quote:
You realize a silver dollar only contains .7734 oz of silver, right? Not new math biggfredd. Old math. If an ounce of silver is $33.50, then .7734 oz = $25.91. |
|
Rest in Peace
United States
9104 Posts |
Quote:
Based on yesterday's $33.50 opening spot price, there was $25.91 silver in each Morgan. That's only 70.5% of spot Quote:
Not new math biggfredd Upon reading this for the tenth time, I see what you meant. "That" meaning $28.25, where I thought you meant "That" = $25.91 was 70% of $33.50. Apologies.  Most retail stores double their money or more. Why do you consider a 30% margin to be too little? Aside: JC Penney just announced they're cutting prices 40% across the board. This from the last major retailer to join the "sale price" marketing model. |
|
Rest in Peace
United States
9104 Posts |
Quote:ungraded Silver Kookaburra's are selling for a high premium because of their potential to eventually be a MS 69 or 70. Potential = favorite term among realtors. Show me a place with less potential and more actual. That's like paying for a space at the roulette wheel because you have the potential to win on the next spin. Or not. |
|
Valued Member
United States
264 Posts |
@biggfredd Very good point. I made the mistake last year of buying a 2011 Panda UNgraded for a premium. It came in with an off center rim that was not shown in the auction photo.  Silver buying for grading purposes is not really an option for those of us outside the big cities.  |
|
Valued Member
United States
89 Posts |
If spot prices go up any premium you will get from slabbing will tend to vanish in other hand if it goes down it will retain its premium.
|
| |
Replies: 14 / Views: 1,861 |
|
Posted 01/31/2012 6:34 pm
