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 Replies: 22 / Views: 2,587 |
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Pillar of the Community
Israel
2420 Posts |
I never really understood why would someone wants a slabbed ASE, unless he can't get his bullion from a trustworthy dealer, but that's not my point. Why would a seller get his bullion graded? How much does a MS68/69/70 ASEs bring? Does it worth the cost of slabbing? |
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Bedrock of the Community
13014 Posts |
Theres many different kinds of ASEs they arent just bullion. There is the bullion version but also the proof, uncirculated and reverse proof that all carry premiums over spot
Any of the ASEs including the bullion bring premiums when they get the 70 which more than covers the cost which is why dealers do it. For the uncirculated version some of them their top population is 69 so those bring premiums too. None of them have any premium in a 68 though the 95-w is probably still pricey even in that grade.
But when you see 68s and for the more recent ones 69s those are just the ones that didnt get the 70 when the dealers submitted their large lots to be graded they didnt go out of their way to get something they thought was a 68 or 69 slabbed
Edited by basebal21
02/02/2013 04:37 am
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Pillar of the Community
United States
4901 Posts |
 with what he said.... |
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Pillar of the Community
 Israel
2420 Posts |
It still doesn't make a lot of sense to me. According to the PCGS population report, only 17% of the ASE get the desired MS70 designation. If the sellers lose on everything MS69 and below, it seems like a worthwhile concept to just send a large batch of eagles to the TGP. Since I assume many of the graded ones are hand picked before being send to grading, I assume no more than 1/8 of the general population could get a MS70 grade, so unless you're real positive that your coin would reach 70. http://www.pcgs.com/pop/detail.aspx?c=939 |
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Pillar of the Community
United States
2543 Posts |
Obviously, perfect anything is always sold at a premium. Near perfect also has a market , because not everyone has the budget to afford perfect. The market in high graded coins stems from two things, some people's desire for perfection (me) and the thought of what an MS70/69 Morgan or Peace dollar would be worth today. Like other coins minted for circulation , bullion (even though not circulated) is struck in quantity not quality, the bullion is not struck or handled afterwards with the same care that uncirculated or proof coins are. So really getting a 69 or 70 bullion coin is rather difficult to get . The fact that they are obtainable, is more due to there sheer volume of production. They collectible because so many thousands of bullion coins have to be examined to get a few MS 68/69/70. Edited by denco7
02/02/2013 08:25 am
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Pillar of the Community
United States
1721 Posts |
I got 14 ASE's in a trade and 2 were slabbed and graded PCGS MS70. What I don't understand is both of these Silver Eagles have small dings or nicks. How did this get the MS70 grade with small dings? Is this acceptable for an MS70 grade? I thought the coin would need to be perfect. Personally, I don't believe in paying a premium for slabbed bullion but I have paid spot. I don't mind when someone else pays for the slab  . |
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Pillar of the Community
United States
4901 Posts |
Quote:It still doesn't make a lot of sense to me. According to the PCGS population report, only 17% of the ASE get the desired MS70 designation. Faulty data logic.... If you really look at the data in the first 10 YEARS of production 78,000 bullion ASE's were graded by PCGS...of those 78k coins only 15 are graded MS70....15....over 10 years If you look at 2010 75% of the coins (71,563 of 95,291) were graded MS70 and in 2011 the various labeled bullion ASE's were graded between 50 and 85% MS70 Either the Mint has markedly improved their quality or the grading standards have been loosened a tad...your choice |
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Pillar of the Community
United States
1721 Posts |
Loosened a tad...your my choice.
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Pillar of the Community
United States
3453 Posts |
Quote:
I thought the coin would need to be perfect. Maybe it is me, but I have a very hard time believing so many coins are 70s in any series. I will confess my we bought a MS70 coin but I made sure that the price jump between 69 and 70 was not huge and made sense to us. Plus it was a coin I love so I can honestly say I have a MS70 coin I love. I will not regret its purchase ever. I believe these MS70 sets are more a fad; people who acquire them for investment will probably be disappointed in the long run. And to tie this back to the OP's question, I believe the bullion is being slabbed as it is following this current marketing fad. As long as the MS70s bring in high dollar$, anything will be slabbed in bulk to achieve that grade. Edited for spelling and grammar. Edited by CoinsKelly
02/02/2013 09:23 am
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Pillar of the Community
United States
2543 Posts |
Don't get so caught up in the numbers that you lose track of the meaning of the numbers.
First , proofs and mint marked Eagles are not bullion, so these MS70s don't count. Secondly only the best of the best are submitted to the TPGs for grading. With the cost of grading these days nobody submits a coin shop Eagle for grading and the TPGs do not work on a " examine it, if it is not a MS70 then send it back free of charge" basis. The cost precludes anyone but the most serious collector or a dealer from sending in bullion coins to be graded.
The 90,000 + that are submitted are carefully examined by dealers, who themselves are more often then not grading experts. These 90k submissions are the best of the best out of a mintage of 30 plus million, so the fact that 70k plus get MS70 is not surprising at all.
Has the quality of bullion gotten better ? I think so ........
I have several MS 70 Eagles and not one of them has a mark on them
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Pillar of the Community
United States
4901 Posts |
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Loosened a tad...(your) my choice.  YA THINK? Say you were a budding dealer back in 1989 and decided to send in 1000 ASE's a year for 5 years to PCGS to get a stock of some MS70 coins back for sales... TOTAL 70's graded in 1989...zero; 1990...zero; 1991..zero; 1992...zero; 1993...zero Me thinks I would reconsider that business plan... Now on to 2010 where I would have 750 MS70's out of my 1000 for that year. I'm sure it's all from Mint quality improvement......NOT! |
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Pillar of the Community
United States
2543 Posts |
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Me thinks I would reconsider that business plan... But again, why ? It is not like they don't get paid if it is not a MS 70 .They still get their money and it makes their MS70s all the more rare and more coveted. |
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Pillar of the Community
United States
1339 Posts |
Just the topic I need.....Yesterday I fell in love with a coin at my LCS...It's a first release PCGS PR-69 reverse proof 2012...It's the only slabbed eagle I own.....It's beautiful!! Paid $100 for it ...Love it ,but not sure it was a wise purch ASE |
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Pillar of the Community
United States
919 Posts |
If the standards have changed that much just resubmit the earlier coins and see how many come out MS70's.
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Pillar of the Community
United States
4901 Posts |
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But again, why ? It is not like they don't get paid if it is not a MS 70 .They still get their money and it makes their MS70s all the more rare and more coveted.
A dealer makes next to nothing on MS69 graded bullion coins so it WAS a waste of time and resources...and yes, zero 70's over that 5 year period would make the resulting 70's more rare and more coveted....oh wait....there AREN't ANY! |
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Pillar of the Community
United States
4901 Posts |
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If the standards have changed that much just resubmit the earlier coins and see how many come out MS70's. Hmmmmmm.....I do have quite a few sealed original rolls of 20 from 1986-2005...could be worth peeking at them under a loop.... Hmmmmmm..... Here's a receipt from when I could buy them from my local bank....(check out the price for a roll of 20)  |
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Replies: 22 / Views: 2,587 |
Posted 02/02/2013 07:02 am
