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 Replies: 24 / Views: 4,248 |
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Pillar of the Community
Canada
798 Posts |
NGC just graded over 100,000 S$15 MS70 2017 Canada Year of the Rooster coins for one customer ($2,000,000 in grading fees alone). All the coins are on the same order. I've never seen such a large investment in graded bullion before. Is it an institutional move? Is the RCM getting their own coins graded? I've never even seen this coin before. It is just such a massive investment in such a very small market.  |
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Pillar of the Community
United States
1695 Posts |
Could there be a strong overseas market for them due to the theme?
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Bedrock of the Community
United States
10284 Posts |
I'm sure there is a very substantial discount in grading costs.
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Pillar of the Community
Canada
3733 Posts |
huge discounts, and probably with one eye closed..
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Rest in Peace
10197 Posts |
Sounds like a salesperson and NGC's CEO will be taking home a bonus check this week....
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Pillar of the Community
United States
7618 Posts |
I can guarantee that they paid no where near $2m to get those coins graded!
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Pillar of the Community
Canada
5324 Posts |
Must be a typo, the 15$ version mintage was around 18888
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Pillar of the Community
 Canada
798 Posts |
Also to be noted, an order of 215,000 2017 China S10Y MS Pandas were also graded by NGC for one customer. Furthermore, block orders of MS70 American Eagles have been updated by NGC in the past month showing: 750,000 block of 2010 Eagles graded, 960,000 block of 2011 Eagles graded, 325,000 block of 2012 Eagles graded, 575,000 block of 2013 Eagles graded, and a 325,000 block of 2014 Eagles graded.
Someone, or some organization, is literally sending millions of silver coins to NGC to be graded. The thing is, I don't see these coins flooding into the market. I don't see them anywhere. There is no supply glut. Who has the capacity to store millions of graded silver coins and why would anyone want to send millions of coins to be graded?
I'm very confused! ?
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Pillar of the Community
Canada
798 Posts |
John, you are talking about the proof coin. It says that this one is a mint state coin, so my guess is that this coin was commissioned and then the entire mintage was graded.
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Pillar of the Community
United States
1094 Posts |
For some reason QVC or Home Shopping Network comes to mind.. That late night show with that fast talking salesman selling over priced coins as "investments".
In my anouncer voice "get them now, quantities are limited, once these are gone they're gone forever. These are gem BU uncirculated, the highest quality coins, guaranteed to only go up in value, pick up the phone and order now before theyre gone"
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Valued Member
United States
271 Posts |
I think Harry hit it right on the head!
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Pillar of the Community
Canada
1505 Posts |
I would guess it is going to an overseas customer and are handed out as gifts. Maybe a reward for employees or customers.
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Pillar of the Community
Canada
5324 Posts |
All NCLT are proofs by the way they are produced, I doubt highly anyone would be stupid enough to commission 100,000 NCLT coin, can't be a bullion version due to it's denomination, even grading 10,000 units is a huge expense with little rewards.
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Bedrock of the Community
 United States
12477 Posts |
I get the feeling that these mass submissions (most likely at a huge discount) are intended for distribution in a market outside of North America. Or... Maybe the coins themselves came from a market outside of North America.  In Memory of Crazyb0 12-26-1951 to 7-27-2020
In Memory of Tootallious 3-31-1964 to 4-15-2020
In Memory of T-BOP 10-12-1949 to 1-19-2024
Edited by spru
02/18/2018 01:37 am
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Bedrock of the Community
Australia
21786 Posts |
If there is a huge number of MS70 coins, is there a justification for paying more than the same price you would for an equivalent MS66 coin?
It seems that the most common grade is in the very high MS range.
If that is the case, that makes an MS70 coin a poor investment. Better to simply be a bullion stasher and buy more cheaply.
If over 100,000 coins have been graded for $2,000, that's a grading fee of little more than 2 cents per coin.
The math doesn't make much sense.
For a start, the grader won't be able to spend useful time on each coin, and the cost of the slab only would have to be less than zero.
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Pillar of the Community
United States
3184 Posts |
I thnk harry hit it on the head.....probably QVC or something of that sort. Lets not forget places like JMBullion,apmex, etc who also deal in large numbers. |
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Replies: 24 / Views: 4,248 |
Posted 02/17/2018 8:45 pm
