Why So Many Graded Modern Proof Coins?

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Author	Replies: 3 / Views: 1,694
tkbslc Pillar of the Community United States 1158 Posts	Posted 07/09/2014 11:58 am I see a lot of TPG slabs of very cheap modern Proof coins for sale on ebay. Isn't it like $30 to get a coin graded? I was looking at picking up a Utah Arches Proof (I'm from Utah) Might as well get the PR70DCAM graded for $13 shipped: http://www.ebay.com/itm/2014-S-Perf...em43cbb64d4d Or maybe I'll get a NGC PF69 Kennedy in my daughter's birth year for $11: http://www.ebay.com/itm/2002-S-KENN...em51bfcd96be There's hundreds of these cheap modern graded coins. Why are so many getting these graded? Or is there a program these are coming from that I don't know about? Report this Post to the Staff

Conder101 Bedrock of the Community United States 17884 Posts	Posted 07/09/2014 12:27 pm Bulk submitters can get grading prices down as low as $6 to $8 per coin if they send in enough items. So they send in a ton of modern proofs see the 70's for a good enough profit to pay for the entire submission and then blow out the 69's and less at low prices which are still pure profit. This results in a ton of cheap slabbed modern proof singles on the market. Report this Post to the Staff
matttheriley Pillar of the Community United States 1512 Posts	Posted 07/09/2014 4:36 pm That makes sense. Report this Post to the Staff
SsuperDdave Moderator United States 23522 Posts	Posted 07/09/2014 5:32 pm Quote: Bulk submitters can get grading prices down as low as $6 to $8 per coin if they send in enough items. So they send in a ton of modern proofs see the 70's for a good enough profit to pay for the entire submission and then blow out the 69's and less at low prices which are still pure profit. This results in a ton of cheap slabbed modern proof singles on the market. It helps that even though there may be Pops in the tens of thousands for a given coin in PR70, for some reason collectors still think there's some sort of added value to it. Report this Post to the Staff
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