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 Replies: 11 / Views: 1,672 |
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Pillar of the Community
United States
3789 Posts |
So I was thinking here and wanted the opinions of the community here on grading of proof/bullion silver and gold coins. In the years I have been here and looking at ebay, it seems there are pros and cons to having gold/silver coins graded. On the one hand, some bullion coins, like silver graded coins can be the kiss of death due to milk spots, toning, etc. As an example, you buy a ASE or Panda MS 70.. only to later find some milk spots. OR perhaps you get a reverse proof canada maple leaf and it ends up getting milk spots, and mind you, that coin was a PF70. So what are the members thoughts to this. I personally think its OK to spend the extra money on gold coins for grading. Silver bullion and proofs I think sets you up for a major disappointment, as even proof Pandas, as an example, can get milk spots down the road. Let me know your thoughts on this... |
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Valued Member
United States
477 Posts |
I also ask this question and think it depends on which coins. Yea you get spots. But I calculated there needs to be a $80 profit on each coin. It's unlikely to get a $80 profit on a modern day silver half ounce coin, unless you wait a very long time. That's if you get eight coins and send to PCGS and use the free grading vouchers.
So I don't think it's a good idea unless you can get a bulk deal and ship
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Rest in Peace
United States
18456 Posts |
You know , I can never understand why one would get any proof Bullion coin graded . I know there are different types of coin collectors out there . But since I'm a raw circ and unc. classic to 1964 U.S. collector ,I just can't see the logic of having PR-70 Bullion . why pay the premium just to have ONE TROY OUNCE .999 looking all new and shiny with no marks on it . It just doesn't make any CENTS ! And I know at least a few other members that will agree with me , and a bunch of others who don't .   |
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Pillar of the Community
United States
5854 Posts |
I have not been a fan of certfied MS/PR-70 bullion coins. I feel there is nothing special about a MS/PR-70 certified bullion coin when so many of them get certified with that grade and the one below it. The difference in eye appeal between a 69 and 70 is very minuscule. I find it difficult to justify paying a premium for something that is common and looks almost identical to basically all the other bullion coins out there. I personally find it easier to justify paying the premium for a older classic coin certified in a very high grade. Such coins are much less common because of the methods of production and fact that they weren't meant to be saved. As you have already mentioned, the grade of a coin deemed perfect can only go down and some of those reasons are not covered by the grading services. With bullion coins, I would rather go for quantity than quality. There is not much difference in quality anyway.
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Pillar of the Community
Canada
2019 Posts |
Well if you can send a bunch of new bullion to be graded that and sell 70s for $600 plus then ya its great for the seller, would I buy one at $600 plus, heck no lol. But there are enough suckers out there buying over priced 70s..... cash in if you can, why not? "2016 G. Britain 2 Pnd 2 Oz Silver Queen's Beast Lion NGC MS70 *POP 2!" Winning bid:US $600.00 Approximately C $782.46 [ 50 bids ] http://www.ebay.ca/itm/2016-G-Brita...AOSwARZXkl2X |
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Pillar of the Community
 United States
3789 Posts |
@northerncoins
oh my god what a price that ended at.
I hope for the buyers sake that it never tones or gets milk spots :/
I was thinking you know with gold, the only draw back I can think of getting a MS-70 say is that one day down the road, or say even a PF 70 grade is the fact that: your MS-70 panda gets those red/brown spots.. its no longer a 70... your PF 70 American proof Buffalo is no longer 70 because it got red spots.. and so on.. so gold carries its risk too.
btw thanks for the thoughts guys...
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Pillar of the Community
Canada
3692 Posts |
I say no. I think that if you're going to sell a coin or show it off then two great minds must meet and decide, hey that's a good specimen right there. A grade in this scenario as described says nothing about the future. You can say that about anything, like a car's value the second it's driven off the lot. I think that graded coins benefit only dealers in the short term, but in the long run who even knows.
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Pillar of the Community
United States
4883 Posts |
As a general rule, I'd never submit the likes of a Silver Eagle, Panda, Philharmonic, et cetera. My subsidiary rule is to never pay a substantial premium for one that's already been slabbed, and that includes MS70's. With gold coins, the only rationale that I can see would be to verify authenticity for easier selling later. The existence of fake slabs, however, has in my view undermined even that reasoning.
Colligo ergo sum
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Valued Member
Canada
192 Posts |
I can't imagine I'd ever find myself in a position where I could justify the purchase of a graded bullion coin. I understand the needs and desires (at least somewhat) of grading, but for my style of collecting (shoestring budget, for a start) there's little (or presently 'no') room for graded coins. Not saying I'll never add graded coins to the collection; I hate to say 'never', but if I did I suspect it would not be for bullion.
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Pillar of the Community
Canada
2019 Posts |
I think the real expensive 70s comes down to population and maybe some bragging rights. Look at this Gretzky Rookie card, crazy price but 2 biders wanted it and the price skyrocketed because it was the only "10" grade from that company or ever not sure on that. Was posted by a guy on another forum. Quote:
A Wayne Gretzky rookie card has sold for US$465,000 - about $612,000 - smashing the previous record for the most expensive hockey card ever sold.
The previous record was set by a copy of the same 1979 O-Pee-Chee card, which shows an 18-year-old #99 in an Edmonton Oilers jersey. That card sold for US$94,000 in 2011.
In fact, it was the only copy of the card ever graded a 10 out of 10 by a company that examined about 3,500 copies. http://www.ctvnews.ca/sports/number...2k-1.3016510Edited by Northerncoins
08/07/2016 2:39 pm
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Pillar of the Community
Australia
7096 Posts |
With the proliferation of counterfeits that are getting more sophisticated every year, I think it isn't such a bad idea to have our Gold proofs graded and authenticated. Yes I know that there are fake slabs out there But the fake Raw coins outnumber them many fold. The $20-$30 grading fee isn't too much of an imposition on a coin that has cost you hundreds of dollars But to pay the same fee for a Silver Bullion coin doesn't make much sense to me  |
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Pillar of the Community
United States
3789 Posts |
I was thinking along the same lines as Trout1105, I can justify grading proof gold coins. GRANTED, I understand from reading that graded proof gold coins after some years can also have imperfections surface many years later. That might knick ones high grade coin if it happens. Silver bullion, I just dont get the grading. I mean you are up against so many things, from milk spots, to toning to other defects that quickly the price of the slab go down the ladder. It does blow my mind the amount of fake slabs now, WOW. Even older data panda coins are getting fake slabs and they are getting bids on ebay!! Sheesh... I wonder when we get to see graded sheets of Panda coins, in the same manner that we sometimes see graded "first" silver american eagle rolls lol |
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Replies: 11 / Views: 1,672 |
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Posted 08/04/2016 9:20 pm
