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 Replies: 17 / Views: 3,245 |
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Valued Member
United States
126 Posts |
I mentioned in an earlier post that I picked up a handful of coins recently, all graded, for not that much money - most for less than $10 each. I really do wonder how these moderns I purchased for so little ended up in NGC slabs. Isn't the grading process fairly expensive? For instance, why would a Jefferson nickel from 2011 even be in a slab? I am really curious. PS - I have since picked up a couple of raw coins. Frankly, I now much prefer this format. |
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Moderator
 United States
56855 Posts |
Quote:
2011 even be in a slab? I am really curious. Most likely because the person who sent them in for grading was hoping for a 70.Most modern coin are going to grade at least 67 and we all hope to get a 70 if we send them in. That's why it is important to know how to grade,pay ms67 prices or even face value on a raw coin and send it in with fingers crossed for a 70 slab. John1  |
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Valued Member
 United States
126 Posts |
Quote:
Most likely because the person who sent them in for grading was hoping for a 70.Most modern coin are going to grade at least 67 and we all hope to get a 70 if we send them in. That's why it is important to know how to grade,pay ms67 prices or even face value on a raw coin and send it in with fingers crossed for a 70 slab. That's really interesting, thanks. So a 70 grade on a modern Jefferson would be worth the grading costs to the owner? The hunt for the 70. Most of the moderns I picked up were 69. So, now I think the 69 is not all that unusual. How about mint state vs proof for moderns? Edited by OldWest
04/07/2016 2:13 pm
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Moderator
United States
56855 Posts |
High grade MS is a little harder to find then PRF. After all,proofs are meant to be high grade. John1 |
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Pillar of the Community
United States
757 Posts |
If you send in bulk submissions the grading price per coin is greatly reduced. If you manage a few 70s per bulk submissions you can sell the 69s for a few bucks a piece and still make some money. A lot of people don't want to pay the premium price of 70s so there are plenty of people that buy the 69s.
You can also write off the grading costs as a business expense so the dealer isn't losing anything by getting moderns graded.
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Pillar of the Community
United States
1156 Posts |
You should visit the NGC Registry site and take a look at the sets that collectors have on public display. The registry ranks them by a score based in part on their grade but also taking into consideration the coin's rarity. So there's an element of competition to collecting slabbed coins of all types. |
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Valued Member
Canada
147 Posts |
Its entirely possible the dealer had bought them graded, but that cost doesn't get passed onto the dealer if they're buying a collection. I had a customer once who wanted to collect every Canadian circulation silver dollar in every grade from Poor to MS and would have every one TPG'ed to ensure of it. |
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Pillar of the Community
United States
6130 Posts |
Modern coins follow a boom-bust cycle, on average. The first certified MS-70 coin from a given year will bring a king's ransom. It drops off steadily from there unless there aren't many 70s for that year. Let's use the 2015 March of Dimes set as an example. The set cost a bit over $60 and came with 3 coins. NGC had a special slab created for the "first strike" coins. It probably cost $50-60 to get all three coins graded. If you were lucky enough to get three PF-70s back, they sold like hotcakes on ebay for $550-600 per set. PF-69s sold for $250 per set. Raw sets sold for $120 per set. Some people made a LOT of money that way, especially those who had friends and family order the coins on release day to circumvent the limit of 5 per household. |
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Rest in Peace
United States
4078 Posts |
This is interesting. Let me tag along to see the replies.
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Bedrock of the Community
United States
17884 Posts |
Simple answer, so people can sell them for a lot more money to other people willing to pay a lot for common coins with high numbers.
Edited by Conder101
04/07/2016 5:15 pm
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Valued Member
United States
126 Posts |
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Simple answer, so people can sell them for a lot more money to other people willing to pay a lot for common coins with high numbers.
That sounded quite a bit like me when I started collecting recently. However, I tried to keep my purchases under $10, so no real harm done, I suppose. |
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Bedrock of the Community
United States
20753 Posts |
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Simple answer, so people can sell them for a lot more money to other people willing to pay a lot for common coins with high numbers. And it works. At coin shows I see so many slabbed coins that I think could be found in change all the time. |
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Valued Member
United States
126 Posts |
How close to correct are the prices in graders guides, like the NGC Price Guide. In the NGC, I routinely see modern Lincolns at $15 to $20.
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Pillar of the Community
United States
1189 Posts |
I'd take those book prices with a grain of salt. Use ebay sold prices as well as "PCGS auction prices realized" (google it). |
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Valued Member
United States
126 Posts |
Quote:I'd take those book prices with a grain of salt. Use ebay sold prices as well as "PCGS auction prices realized" (google it). The PCGS auction guide is really nice, thanks for recommending. Is there a way to track the history of my NGC graded coins? Auctions, realized prices, etc? Thanks. |
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Pillar of the Community
United States
1189 Posts |
PCGS prices realized includes NGC coins.. Just look under the "cert" column :)
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Replies: 17 / Views: 3,245 |
Posted 04/07/2016 1:29 pm
