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100 PCGS Graded PR-69 Coins For $550?

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Coconutjoe's Avatar
United States
1475 Posts
 Posted 05/08/2017  04:45 am Show Profile   Bookmark this topic Add Coconutjoe to your friends list Get a Link to this Message Number of Subscribers
I ran into this ebay item that states...

"(LOT OF 100) PCGS PR 69DCAM GRADED COINS"

Even if the seller gets volume discount on grading costs, this comes out to $5.50 per slab. What is the secret?

http://www.ebay.com/itm/LOT-OF-100-...401322956317
Edited by Coconutjoe
05/08/2017 04:47 am
Valued Member
United States
424 Posts
 Posted 05/08/2017  07:57 am  Show Profile   Bookmark this reply Add Oldephriam to your friends list Get a Link to this Reply
Don't let this secret out. I will spell it out for you so there is no misunderstanding...

S-C-A-M

I won't even bother to look at the ebay posting, just by your description only it sounds too good to be true so....

Somehow some way this person will rip you off. Stay away!
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RoyCoinBoy's Avatar
United States
1609 Posts
 Posted 05/08/2017  08:11 am  Show Profile   Bookmark this reply Add RoyCoinBoy to your friends list Get a Link to this Reply
Here's a review on one of his feedback pages.
Buyer: "ANACS holders, probably fake, working with ANACS now. Review may be lower soon.
Seller's reply: "WHO WOULD FAKE A $6 SLAB--THIS GUY IS A MORON-PEOPLE FAKE ONLY EXPENSIVE COINS"

(Yes, that is exactly what both of them said.)
Seems like a fellow I would not like to buy from.
Edited by RoyCoinBoy
05/08/2017 08:12 am
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BH1964's Avatar
United States
10982 Posts
 Posted 05/08/2017  08:38 am  Show Profile   Check BH1964's eBay Listings Bookmark this reply Add BH1964 to your friends list Get a Link to this Reply
Bulk submissions where the magical "70" grade generates strong dollars and the "69" coins are cast-offs is likely the source of such coins. What you end up with modern junk graded PR69DCAM that aren't worth $5 a piece.
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jdmern's Avatar
United States
1949 Posts
 Posted 05/08/2017  08:47 am  Show Profile   Bookmark this reply Add jdmern to your friends list Get a Link to this Reply

Quote:
Don't let this secret out. I will spell it out for you so there is no misunderstanding...

S-C-A-M

I won't even bother to look at the ebay posting, just by your description only it sounds too good to be true so....

Somehow some way this person will rip you off. Stay away!


The seller has a feedback over 14,000 and appears to deal in modern graded coins... Telling someone it is a scam and they are going to be ripped off is quite an assumption, dont you think?


Quote:
Here's a review on one of his feedback pages.
Buyer: "ANACS holders, probably fake, working with ANACS now. Review may be lower soon.
Seller's reply: "WHO WOULD FAKE A $6 SLAB--THIS GUY IS A MORON-PEOPLE FAKE ONLY EXPENSIVE COINS"

(Yes, that is exactly what both of them said.)
Seems like a fellow I would not like to buy from.


I'm not sure either of you understand that ANY buyer can can leave feedback, even if they BUYER has no clue whatsoever to what they are talking about... Seller has one negative and 4 neutrals over several thousands of feedback and you are quoting on a forum one of the neutrals from someone who sounds like they have no idea of what they are talking about?!
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BigSilver's Avatar
United States
2843 Posts
 Posted 05/08/2017  09:01 am  Show Profile   Bookmark this reply Add BigSilver to your friends list Get a Link to this Reply
BH1964 - I think you said it. People play the 70 lottery and all the rejects have to go somehow. I didn't even check up on the seller, but to assume that there is a scam here does seem like jumping to conclusions.
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bobby131313's Avatar
United States
24149 Posts
 Posted 05/08/2017  09:32 am  Show Profile   Bookmark this reply Add bobby131313 to your friends list Get a Link to this Reply

Quote:
Don't let this secret out. I will spell it out for you so there is no misunderstanding...
S-C-A-M


Very irresponsible statement. Sorry.

I have bought lots like this to have these to give away to kids at shows. You should see their faces light up when you hand them a PCGS coin for free. I've still got about 40 of them here. Dealers get tired of looking at them taking up space and blow them out. I bought a lot of 50 PCGS PR69 pres dollars that came to $3.69 a piece. Nothing wrong with this lot at all.
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CoinCollector2012's Avatar
United States
8137 Posts
 Posted 05/08/2017  10:20 am  Show Profile   Bookmark this reply Add CoinCollector2012 to your friends list Get a Link to this Reply

Quote:
People play the 70 lottery and all the rejects have to go somehow


This is what this listing is. No scam here.
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jbuck's Avatar
United States
187702 Posts
 Posted 05/08/2017  3:09 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply


I know this just by comparing prices on PR69DCAM Ikes, what it would cost me to slab my own PR69DCAM Ike, and the current prices of PR70DCAM Ikes.

Bulk submissions only have a few winners, but they more than pay the fees. All of those PR69 coins can be sold at the coin's actual value instead of a "coin + fees" price.
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BadThad's Avatar
United States
19931 Posts
 Posted 05/08/2017  4:18 pm  Show Profile   Bookmark this reply Add BadThad to your friends list Get a Link to this Reply
Seems like a reasonable price to unload a bulk of coins that failed the 70 grade.....free shipping too!
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XavierOfGreen's Avatar
United States
2589 Posts
 Posted 05/08/2017  9:22 pm  Show Profile   Bookmark this reply Add XavierOfGreen to your friends list Get a Link to this Reply
Even PCGS graded MS69 modern proofs tend to go for under $5 for many issues.
Valued Member
United States
424 Posts
 Posted 05/08/2017  10:09 pm  Show Profile   Bookmark this reply Add Oldephriam to your friends list Get a Link to this Reply
I did a knee jerk reaction to something I know little about.

Everybody, thank you for calling me out on it. I suppose I could offer some sort of an explanation but it would be lame.

Next time I will just sit back and learn from the pros while I snack on the foot I firmly planted in my mouth.
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cuzzx's Avatar
United States
411 Posts
 Posted 05/08/2017  10:27 pm  Show Profile   Bookmark this reply Add cuzzx to your friends list Get a Link to this Reply
Not me, thank you
But which ever one of you guys do buy it please start a post page showing all.
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jbuck's Avatar
United States
187702 Posts
 Posted 05/09/2017  12:29 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
Oldephriam, we are all here to learn something at some point.
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Coconutjoe's Avatar
United States
1475 Posts
 Posted 05/09/2017  12:40 pm  Show Profile   Bookmark this reply Add Coconutjoe to your friends list Get a Link to this Reply
thank you all for the insight.
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BigSilver's Avatar
United States
2843 Posts
 Posted 05/09/2017  6:51 pm  Show Profile   Bookmark this reply Add BigSilver to your friends list Get a Link to this Reply
Oldephriam- kudos to you for that reply. Too many people get mad at people who correct them. It is refreshing to see this kind of behavior, on the internet no less.
In fact I am more impressed by your second post than I would have have been put off by your first one.
So I take this opportunity to compliment this wonderful site and its wonderful members for all the good they do, all the knowledge they share, and all the friendship they promote.
With that I conclude ny 1000th post!!
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