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 Replies: 14 / Views: 1,510 |
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New Member
United States
3 Posts |
I recently won on ebay Two Sealed 20TH Anniversary Silver Dollar Sets which were between $ 420 and $ 480.
I have three choices to make which are the following.
1. Lock Away The Two Sealed Sets For The Future Being 5, 10 or 20 Years.
2. Submit the Two Sealed Sets to "PCGS" for the Coins Grading.
3. Submit the Two Sealed Sets to "NGC" for the Coins Grading.
I know that "PCGS" is more much conservative than "NGC", and they generally grade Coins at a higher standard level.
The same rated "PCGS" Graded Coins soemtimes will sell for up to two times what the same rated "NGC" Graded Coins sell for.
Is it better to join either "PCGS" and "NGC", or both and Pay the Annual Yearly Membership Fees?
I have already joined "NGC" but as a free member.
I have noticed that I have not seen any of the "PCGS" 20TH Anniversary Silver Dollar Sets Rated At 70/70/70 and have only seen the 70/70/69 Sets.
The "PCGS" 70/70/69 Rated 20TH Anniversary Silver Dollar Sets have been selling for around $ 1,250.00 on ebay.
I have noticed that the "NGC" 20TH Anniverssary Silver Dollar Sets Rated At 70/70/70 have been selling for around the $ 1,150.00 on ebay.
Also, is it better to submit the Two Sealed Sets directly to "PCGS" or to "NGC" or to one of their local authorized dealers?
If I do send out the Two Sealed Sets to be Graded, I will only have one shot at this since "PCGS" and "NGC" will not Grade Coins where the Sealed Set has been opened.
Which way is better?
Lock The Two Sealed Sets Away, Send Them To "PCGS", or Send Them to "NGC"?
Thank You
Jonathan
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Pillar of the Community
Australia
3831 Posts |
If your primary objective is to make fat money out of it, stop dreaming. Chances are that if your set are all 69s, you have just broke even or rather lose money as you have to send in those coins for slabbing cost and time.
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Bedrock of the Community
United States
14454 Posts |
PCGS has made an announcement saying they will not be giving the regular proofs the 70 grade because of spotting that usually occurs in time because of the rinse the mint uses that causes spots, that is why you have been seeing 70/70/69 pcgs graded coins. What I would do in your situation really is up to what I am wanting to do with the sets, if I am going to try to sell them soon then I would probably get them graded by PCGS because of the most profit ability, if I am planning on keeping them for awhile then I would just leave them sealed in the package until it was time I was wanting to sell the sets then I would send to PCGS and have them graded (as long as they are sealed they will grade them as 20th anniversary set no matter if its today or 20 years from now), if I wasn't planning on selling the sets then I would probably still leave them sealed and just put them in a safe place because a sealed set will always bring more money than an opened set in case times get hard and you have to sell them off
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Valued Member
United States
62 Posts |
It's not the proofs that aren't getting the 70 grade, it's the MS ones.
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Bedrock of the Community
United States
14454 Posts |
no I'm positive in the PCGS press release they said the proofs wouldn't be graded 70
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Pillar of the Community
United States
1541 Posts |
Recently the unopened sets have been going for $300 - $350 about same as graded sets.
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Valued Member
United States
62 Posts |
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Moderator
 United States
23522 Posts |
In your shoes, JonathanF, I would submit them to PCGS (as you said, they're the more highly-regarded TPG in the marketplace), and turn them over as fast as you can. The market for these coins is completely speculative - PCGS and NGC between them have already certified over 10,000 PF70 20th Anniversary Eagles, a number which is incomprehensible when compared to the ludicrous prices they're currently selling for. These prices hold only because there are enough people, who don't understand how rarity relates to value, to spend the money on them. Yes, I understand the concept of market demand, but I also understand what happens when supply and demand equalize. Even now, people I know who deliberately work these speculative markets for profit are getting out. Me, I think it'll hold up for at least another six months or a year, but understand this: The number of 2006 Eagles PCGS has graded PF70, as of today, is greater than all other PCGS PF70 Eagles combined. NGC has graded over 25,000 2006 Eagles at PF70.These populations do not support pricing which will buy you a Mint State St. Gaudens $20. It's a balloon, plain and simple, and soon it's going to pop. I honestly do not think you will recoup your investment if you hold them longer than a year. |
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Bedrock of the Community
United States
14454 Posts |
bitters, I stand corrected, thanks for pointing that out to me. I don't know why I was thinking it was the proofs that were having the problems but thanks for the link to clear up my mistake
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Pillar of the Community
United States
2335 Posts |
My Daddy always told me it's better to make a fast nickle rather than a slow dime. If you could sell something for $1250 that you paid $480 for you probably need to sell now. I agree with SuperDave, that the price will drop on these reasonably quickly. Even if the price doesn't drop, in my opinion it will not increase any faster than inflation The large percentage profit, if any, was made when you bought the set & got it graded.
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Valued Member
United States
394 Posts |
JonathanF,
Another opinion for you, I would put the two sets away for however long you are able to keep them financially. The MS-W and RP-P will always be two of the top coins in the Silver American Eagle Series. You will not get a MS-70 for the UNCs from PCGS as explained earlier. The coins are what they are and if you ever to decide to send them in for grading in the future you will still be able to do that. It will strictly be up to the person doing the grading and like the "buzz" word here on the forum is that it is purely subjective. By keeping them it gives you another good option, and that is there is always the possibility that an unopened pristine set may bring a greater premium in the future because everybody and his brother or sister has sent their coins in to be graded, which may mean that there will be a very limited amount of truly original sets and these may be in demand at some time in the future. I understand that they can be broken out of the slabs and made to look like they were original sets, but !!!! Yours will still be mint sealed box which is the best thing going for you right now. Good Luck with whatever you decide.
Berry
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Valued Member
United States
112 Posts |
I have seen ungraded coins in this Silver Eagle set that the dealer claims it would grade a 69 or 70. I could see marks on the coin and I am a novice at coin grading. I think it really is amazing how subjective grading really is. Its too bad that there isn't one exact standard that is followed for all coins.......some of us should get together and make a new grading standard........
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Pillar of the Community
United States
2269 Posts |
I haven't seen too much of a difference in price between graded and unopened sets.
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Moderator
United States
23522 Posts |
quote:
I haven't seen too much of a difference in price between graded and unopened sets.
At the moment, that's true. 25 years from now, things might be quite different. Staying in a sealed set is the only way I see these coins retaining value in the long term. |
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Valued Member
United States
143 Posts |
I have sold three of the five opened sets at $255 and up. The current $350 has me tempted. I have five left that are unopened. The dilemna is what the Reverse proof will grade. If it doesn't make a 70, the whole set won't make you much more money than the graded set. Don't forget Registered Mail to and from the TPG and cost of grading. Take those fees off and, short of a PR70 RP, you won't make much more, if any. I sold an unopened box for $325. I think you are already in at price peak and should move quickly, as Dave says. |
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Replies: 14 / Views: 1,510 |
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Posted 03/12/2007 12:23 pm
