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 Replies: 12 / Views: 1,839 |
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Valued Member
United States
477 Posts |
What are your thoughts of buying perfect 70 coins (like pennies, quarters etc) as an investment?
Like buying a couple of 70 2011 pennies or quarters.
Thanks.
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Bedrock of the Community
13014 Posts |
Im for it personally. I do however see them as the riskiest coins. They are the coins that if their was going to be a huge spike in value it would be them, but there is also the chance someone can send in a new lot and explode their population driving down their value depending on what they paid.
Just be aware not all 70s are equals, make sure you get one that looks real good and dont pay PCGS prices for an ICG one
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Valued Member
United States
329 Posts |
I will just add that I personally do not feel buying a graded bullion coin ( ASE) is a good idea. They are meant to be bullion and the millions and millions of them will never appreciate in value IMHO. This is not to say that a proof is the same thing, just to address the actual ASE bullion coins that are being graded. Edited by stev18
03/10/2013 8:37 pm
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Pillar of the Community
United States
2541 Posts |
IMHO, it's a way for TPGs to keep their revenue up with all the 'First Strike' and retro labels etc.
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Pillar of the Community
United States
5854 Posts |
I have yet to buy any 70 graded coin but may consider it someday only at a small premium to ungraded examples. Personally, I wouldn't invest in any 70 graded coin because of the possibility of large increases in the population. Slabs are not airtight and coins can change in the holder. Proper storage become even more critical to prevent the development of things like spots and unsightly toning which will mean it will no longer qualify as a 70.
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Bedrock of the Community
13014 Posts |
Quote:
Personally, I wouldn't invest in any 70 graded coin because of the possibility of large increases in the population. For new coins thats a concern and it is somewhat of a gamble to get them the second they come out. Overtime though you basically know what youre going to get. A few more may be added but the likely hood of finding a hoard somewhere that would blow up the population is very slim. |
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Valued Member
United States
161 Posts |
Sometimes when I am down to the last $15-$20 of my weekly coin budget I will pick up some modern 70's on the Bay. For some reason they always seem to be way underpriced. Maybe there isn't much of a market as everyone is going after silver and gold.
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Pillar of the Community
Canada
1192 Posts |
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Bedrock of the Community
13014 Posts |
I dont think they were doing anything to raise the bar other than just saying their guide is for coins that dont spot over time. As far as I know there isn't anyway for them to tell which coins will get milk spots and which wont so all they can do is grade what they see at that time
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Valued Member
United States
329 Posts |
"Sometimes when I am down to the last $15-$20 of my weekly coin budget I will pick up some modern 70's on the Bay"
I'm still a nOOb but what kind of coins can you get for that price that are graded 70?
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Pillar of the Community
Canada
1192 Posts |
Quote:
I dont think they were doing anything to raise the bar other than just saying their guide is for coins that dont spot over time. I'm not disagreeing, they did have to address the spotting issue in their pricing. IMO it was when the first "70" grade coin was slabbed that the TPGs went wrong. It always was a theoretical grade. Even now, if you look on NGC's website it says something along the lines of "a 70 grade coin is one with no obvious flaws under 5x magnification". We already have the First Strike/Early Release/etc mumbo jumbo. But mark my words, in time we will see a a new grade/designation that is "better" than 70 to denote that it is "more perfect". They already use *'s and +'s, maybe next we'll have MS-70! or MS-70^10 grade coins which will be "perfect under 10x magnification"! Edited by Pokermandude
03/17/2013 4:40 pm
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Bedrock of the Community
United States
20753 Posts |
People should always remember that hobbies are just that, hobbies. Yes some make a profit on their hobbies but usually those are the exceptions. Most hobbies are supposed to be fun. Coins are sort of like that except they have sort of kept their values and in most instances have increased in value. Yet to buy coins now as an investment, regardless of their grade, value, quantity minted, etc. is just taking the same chance as with the stock market. People constantly try to think of coins as an investment. They are sort of a decent investment but then too so are many other things that could go up or down.
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Bedrock of the Community
13014 Posts |
I dont disagree that they do do somethings that are clearly just for more money like the labels (some of them I do really like I must admit like the flag labels on the State Quarters) and it is possible they do something like that one day. My guess would be that they dont do it any time soon though. The 5x thing does leave room for improvement, but you kind of have to draw the line somewhere. Once they open it to the 10x why not a 15x or 20x ect as well, it kind of opens up a can of worms for them I'm not sure they want to open at least right now. Personally I think that the * and + was a response to CAC being formed. At least some people took that as TPGs grading inaccurately (it did seem to tighten them up some) or they just trying to add something so that people didnt feel like they needed to send the coin to CAC too. Heck maybe they just thought why didnt we think of that first lol. |
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Replies: 12 / Views: 1,839 |
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Posted 03/10/2013 8:36 pm
