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 Replies: 12 / Views: 1,149 |
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New Member
United States
1 Posts |
Hi guys and gals, I'm new to this forum and new to coin collecting. I saw this product advertised on Blanchard: http://www.blanchardonline.com/blan...ld_coins.phpAn MS-70 Buffalo graded by NGC. Do you guys think this coin is worth the $870.00 price tag. Thanks, |
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Pillar of the Community
United States
986 Posts |
Not to me. But if it's what you like, then go for it.
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Pillar of the Community
United States
2443 Posts |
Hi Nerva, welcome to the forum. I would say that they're not worth it. If you do an completed ebay search of past auctions for MS70 NGC 2007 buffalo, they average to sell around $730 dollars, with some even going for just under $700. Looks like ebay is your best bet. |
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Moderator
 United States
23522 Posts |
Any modern coin with a high grade is speculative. I say this not because I have a bias against such coins (although I plainly admit that I do), but because the demand market for such coins is composed of one of two types: unsophisticated newer collectors, and more experienced collectors with variable morals who are willing to profit-take from the first category.
The best I can say, reluctantly, is that the jury is still out as to whether this coin will retain such value into the future.
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Bedrock of the Community
United States
12437 Posts |
Hello Nerva and welcome! If you really want to get a high grade certified gold Buffalo, you should look at the MS69- Blanchards price is about 10% less in 69 than 70. If I remember correctly, the population reports for the 69s and 70s have about equal numbers so the 70s are not rare at all. Prices at the MS-70level tend to be finicky whereas the lower grades are a less expensive option and a more stable value(or at least as stable as the spot price for gold). Personally, if I was spending that much on a gold coin, I would look at a MS-63 St. Gaudens $20- that is a work of art  |
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Bedrock of the Community
United States
20753 Posts |
Welcome to the forum. Now what I wonder is if your new to coin collecting, what ever made you even start looking at that? Do you have a lot of money that you need to get rid of? If so, you can send it to me.  As so many have alread noted, way to much money. Stick with this place and you will learn. Again, welcome. |
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Pillar of the Community
United States
3233 Posts |
For me, high grade (69/70) modern material is a total turn off and likely a very poor investment. Buy the coin raw that has the eye appeal you want (and there will be tons to choose from!) and you'll save a bundle.
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Pillar of the Community
United States
7123 Posts |
I like it better than the first lady coins !
But I agree that the coin should be bought raw ,, the hyped prices for the MS-70 slabbed examples is way too much !
Metalman
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Pillar of the Community
United States
1984 Posts |
I was just discussing this very coin today at my local shop where the dealer is selling one for $720. This puts the original purchaser way underwater at this point. It's a nice coin, but if I had that much to spend on a gold coin right now, I'd look at US double eagles or even foreign coins that could be bought at/near spot prices.
69 or 70 doesn't really matter when there's so much more supply than demand for either one right now.
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Pillar of the Community
United States
1984 Posts |
Just to add that in general an NGC MS-70 is not usually treated much better pricewise in the broader market than a PCGS MS-69.
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Pillar of the Community
United States
1691 Posts |
Gold is about $670 an ounce...your deal adds 25% premium..for a perfect graded coin. That's the going rate..maybe you can do a little better on ebay. Personally I don't like what they did with the $50 on the reverse ...it looks chinsey(sp)! PS welcome to the forum! Edited by atlashealth
09/01/2007 2:00 pm
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Valued Member
United States
411 Posts |
Hi. Welcome. Wasn't there a Roman emperor named Nerva?  I have one of these from 2006 (the first year of this series). I bought it raw and sent it in because I had a number of free vouchers. When it came back MS70, I was pleasantly surprised. It also said "First Strikes"  which I'd never heard of (NGC just settled a lawsuit about that designation, and they don't use it anymore. Now they're "early releases" or somthing like that. Apparantly, PCGS still uses it .) I also have a proof in Mint packaging, that I bought directly from the Mint for $800 when the Mint started making these. That I didn't send out and don't intend to. Anyway, it seems NGC was much more generous with that grade (MS70) than PCGS during the same period. In normal coins, in my experience those two grading companies are equally reliable. But by being stingy with the grade, PCGS coins end up being a lot more expensive. I honestly believe that those two company's grades MS 69 and MS70, on bullion coins or other current Mint products, was and continues to be arbitrary and related totally to the market, not the surfaces of the coin. Edited by Stephen420
09/01/2007 6:20 pm
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Valued Member
United States
112 Posts |
honestly believe that those two company's grades MS 69 and MS70, on bullion coins or other current Mint products, was and continues to be arbitrary and related totally to the market, not the surfaces of the coin
Man, this is a great point.......Its too bad there really isn't one unbiased way to grade all coins where we could all agree....
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Replies: 12 / Views: 1,149 |
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Posted 08/31/2007 6:45 pm
