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 Replies: 15 / Views: 2,751 |
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Pillar of the Community
United States
1247 Posts |
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Pillar of the Community
United States
4691 Posts |
WOW! The TPGs are probably going to get a lot of these submitted soon.
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Pillar of the Community
Canada
3049 Posts |
I am well aware of those that buy whole monster boxes of silver coins to get graded... where the 70's pay off and the 69's barely cover all costs...
But at around 16x bullion value for a 70! Yikes!! That will either start a crazy trend.. or someone will be waking up the next day with a huge auction hangover!!
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Pillar of the Community
United States
2368 Posts |
Quote:
That will either start a crazy trend.. or someone will be waking up the next day with a huge auction hangover!! Or just a huge hangover. |
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Pillar of the Community
United States
4691 Posts |
Wheat, they could have gotten more if you provided a nice sketch!
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Pillar of the Community
United States
6370 Posts |
IMHO, I think the coin market has become uber inflated due to speculation and investment.
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Pillar of the Community
United States
9792 Posts |
A $1200+ dollar coin in an $11,000 holder, wow that's an expensive piece of plastic. I would think there are a lot of MS70/PR70 coins out there, that will never get graded by a TPG, since these will never circulate, and baring any damage these coins will be in the same condition in 100 years. My friend buys most of the US Mint gold offerings in multiples, he has never had any of them TPG's and I'm sure there are a lot of people out there just like him. Not collectors, but more investors or hoarders, he buys the gold because he thinks it is a great investment. I keep trying to tell him he would be better off buying TPG Saints instead, as he is paying a lot of premium for the packaging from the mint, for essentially bullion turned into art, but not collectible/numismatic coins that will ever really be rare. He just doesn't get it. Oh well. "Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013! ANA Life Member #3288 in good standing since 1981, ANS, Early American Coppers Member (EAC), Colonial Coin Collectors Club member (C4), Conder Token Collector Club member (CTCC), Civil War Token Society (CWTS) member, Liberty Seated Collectors Club (LSCC) & Numismatic Bibliomania Society member (NBS), USMex, Member in good standing, 2¢ variety collector. See my want page: http://goccf.com/t/140440 |
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Moderator
 United States
16677 Posts |
This guy just blew 21K IMO.
swcoin.ecrater.com
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Bedrock of the Community
United States
20753 Posts |
You really don't know all the details. For example this coin may be delivered in person with an armed guard. Also, included is a parade of Numismatic society representatives, a safe to keep it in and a promise of a birthday cake.  |
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Moderator
United States
187446 Posts |
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Moderator
United States
23522 Posts |
The hammer price is kinda ridiculous, but maybe not necessarily out of the pale. It's unlikely there'll be more high-MS grades certified for 1989, not 25 years later, and MS70 is not nearly as easy as PR70. In fact, MS70 is extremely_difficult for this coin, with fewer than 20 between NGC and PCGS. And it's the first one ever offered at auction. As a Top Pop and absolute Condition Rarity, I can see a big premium for this one.
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Pillar of the Community
Korea, Republic Of
1881 Posts |
I will never pay that much for a single MS-70 coin over a MS-69 only because it's "perfect." Crack it out, resubmit it and repeat the process a few times, and if it grades 70 in every occasion, then I will say for sure that 70s are unquestionably superior than 69s. Unless someone proves me that, to me paying so much money for a coin being in a so-called "Perfect" condition is a big waste of good money. Anyways, I buy the coin, not the slab.
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Pillar of the Community
United States
937 Posts |
 plastic holder collectors... don't take brains, just money. |
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Pillar of the Community
Russian Federation
5172 Posts |
I personally, if there aren't any details that get obscured in lower grades and if the higher grades aren't so common that they are actually cheaper, would take a MS-63 or 64 over a 70 or 69 any day. To me, with very rare exceptions, MS-69 is just as much a shorthand for "ludicrously perfect" as MS-70 is. If there are loads of modern bullion grading 69, well, that partly because the TPG grading standards have dropped somewhat, and partly because the modern coin minting technology (particularly for such bullion coins) is well above what existed in Sheldon's time (besides, Sheldon probably never intended his scale to be used for 20th-century coins anyway[1]). Of course, with many common issues MS-64 is pretty darn high already. Well, in this case I'll settle for AU-58 or even 55, I'm not that picky  (of course, if I did have the kind of money needed to buy any slabbed coins, I might well prefer to buy a lower-grade example of some less common type). [1] and, for that matter, he probably thought he would be best known for his studies in psychosomatology  which he kind of is, but that's another question entirely. |
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Pillar of the Community
United States
1795 Posts |
People who have more money than they know what to do with is my humble opinion! |
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Pillar of the Community
United States
2651 Posts |
Geesh...I thought I got a deal on it.
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Replies: 15 / Views: 2,751 |
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Posted 09/11/2014 1:23 pm
