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Replies: 58 / Views: 12,068 |
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Valued Member
United States
309 Posts |
This my first gold coin and biggest investment I have made. I ordered second day, mint says sept 10, I want to get it graded so if I decide to sell there should be no question if its real being sealed in a slab from pcgs. I spoke to pcgs I know it wont be cheap being I'm not a member and theres no listing of a lcs in my area which will send it in for me. pcgs said dont open box and put in a larger box so they open it first. not a problem for me. So lets have some feedback what do you guys think am I wasting my money on grading it....
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Pillar of the Community
United States
4901 Posts |
PCGS First Strike cutoff date is September 3rd...so coins shipped by that date are eligible..if RECEIVED by you after 9/3 (but shipped by 9/3) you can still submit via sealed Mint shipping box.
Coins shipped after 9/3 can still be sent to PCGS for grading and sealed Mint shipping boxes are not needed..just the coin in the capsule.
It will not be a cheap event either way....considering the high mintage numbers, graded coins will be plentiful
Your choice but it would be a nice coin just to keep as is...not an investment but a collectible gold coin.
I had 4 ordered in the 1st 2 hours and all would have been FS eligible...but I cancelled them all due to mintage numbers....I might order one in a couple of months to keep ungraded
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Bedrock of the Community
 United States
12817 Posts |
@Foxwoods... why cancel if you plan on buying at some point to keep? Are you anticipating a dip in Au spot? Seems like a gamble to me.
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Pillar of the Community
United States
4901 Posts |
Ordering 4 in one order was way took pricey for me...if I had ordered 1-2 maybe I would have kept them. I also would have kept the 4 if the 1st day numbers were much lower. These will be readily available and margin will be low. Spot was not a factor.
I am an "order a bunch, get them graded, sell most and keep the rest for free" kinda guy...I didn't see that selling 3 would cover the 4th (after grading/shipping/selling costs)
I will order a raw coin from the Mint and I'm considering ordering an already graded PF 70 (Kennedy "Ask not" label) from MCM ($1699.. with no worries about getting a waste of money PF69) for ME. Nice looking coin and slab.
Edited by Foxwoods Man 08/16/2014 08:40 am
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Bedrock of the Community
 United States
12817 Posts |
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Pillar of the Community
United States
4901 Posts |
Update on the MCM $1699 idea: I bought two from Paridise Mint (on ebay) for $1604 and $1614 each...probably drop significantly in price now 
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Valued Member
 United States
309 Posts |
Quote:I bought two from Paridise Mint (on ebay) for $1604 and $1614 each...probably drop significantly in price now now that I thought about this for a while I canceled my order through mint, being my order was on back order. I am looking into buying a Pf70 through ebay makes more sense to me..thanks, Foxwoods Man
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Valued Member
 United States
309 Posts |
i just closed the deal from ebay seller coinart2006 $1600. ngc pf70, I'm excited
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Pillar of the Community
United States
4901 Posts |
Nice....all the worries and work of submitting is done for you already. Enjoy...  I should add that the base hasn't been reached on these yet. They will probably drop another $50-75 while all the 40k FS/ER eligible get absorbed. After that these should do well....
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Pillar of the Community
United States
4691 Posts |
Nice pickup on ebay. The guy who sold it to you took a big loss if he bought it directly from the mint.
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Valued Member
 United States
309 Posts |
Quote: The guy who sold it to you took a big loss thanks, 
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Valued Member
United States
406 Posts |
I ordered five which was more than I had planned to originally, but being a contrarian sort, when I saw the large numbers of collectors who had ordered and then cancelled, I decided to continue and follow through with my original order. They are now on their way to PCGS, all five, and my best guess is two or three PR70DCAM and the rest PR69DCAM. I asked for the regular First Strike JFK label (I could care less about Chicago). Plus, I ordered one PR70DCAM PCGS with the same label from another larger dealer for our personal collection. So I will end up with five gold Kennedys as trade bait. My feeling based on long experience (I ordered my first proof sets from the Mint in 1962) is that in the long run these coins will do just fine. Yeah, at $1240 plus grading (about $67/each with the label and fees) they are not cheap, but they do have considerable downside protection in the form of 3/4 oz. of pure gold. (And there are several unforeseen-but-possible scenarios that could drastically increase demand. Think about it.)
I don't mind hanging on to something like this two or three years until all the weak sellers run out of product.
Just one man's HO.
Best Regards,
George
Edited by giorgio11 08/25/2014 09:52 am
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Valued Member
United States
234 Posts |
Quote: I ordered five which was more than I had planned to originally, but being a contrarian sort, when I saw the large numbers of collectors who had ordered and then cancelled, I decided to continue and follow through with my original order. They are now on their way to PCGS, all five, and my best guess is two or three PR70DCAM and the rest PR69DCAM. I asked for the regular First Strike JFK label (I could care less about Chicago). Plus, I ordered one PR70DCAM PCGS with the same label from another larger dealer for our personal collection. So I will end up with five gold Kennedys as trade bait. When they get back from PCGS, 
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Pillar of the Community
United States
1373 Posts |
I can't figure out why some of you are buying the PR70DCAM's from ebay and secondary vendors when you can just buy them from the mint for less than $1,300. If the mint sends you one that doesn't rate a '70', then you can always mail it back and try it again.
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Valued Member
United States
406 Posts |
Because you also have to factor in your time and the hassle factor. Will the replacements be available/any better/still First Strike eligible?
Best Regards,
George
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Pillar of the Community
United States
4901 Posts |
Quote:Nice pickup on ebay. The guy who sold it to you took a big loss if he bought it directly from the mint. I don't understand your math.... Quote:I can't figure out why some of you are buying the PR70DCAM's from ebay and secondary vendors when you can just buy them from the mint for less than $1,300. If the mint sends you one that doesn't rate a '70', then you can always mail it back and try it again. ...and, after getting your coin, how can you be sure it is a 70 before submitting? I've seen a lot of 69's that look like 70's to me
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Replies: 58 / Views: 12,068 |