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 Replies: 24 / Views: 4,260 |
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Pillar of the Community
Canada
2984 Posts |
Quote:
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. The OP said $2,000,000. Not $2000. Quote:
$2,000,000 in grading fees alone |
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Pillar of the Community
 Canada
798 Posts |
To put this into perspective a little bit more, someone has literally spent $80,000,000 on the whole lot of coins (incl. the US and China bulk submissions) and millions on grading fees. I would think that this is coming from overseas as well, as this is just such a massive, massive investment. The market is so slow and weak for graded coins right now, and someone, some firm, or some government just made a huge move without causing any sort of ripple in the price or demand.
Very interesting and I would be very interested in getting to the bottom of this!
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Pillar of the Community
Canada
5324 Posts |
It's like I said before, can not be a bullion version due to the denomination and no one in their right mind would commission a NCLT coin with 100,000 mintage, just the easiest way to lose at least half of your investment. The shipping and grading fees of say 3 bucks coin would render this exercise fruitless
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Valued Member
Canada
457 Posts |
Maybe these are all going to be given away at the Olympics
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CCF Master Historian of USA Commemoratives
 United States
12286 Posts |
Is it possible there is a mistake in the reporting of the numbers by NGC? Maybe a data entry mistake?
Collecting history one coin or medal at a time! (c) commems. All rights reserved.
Edited by commems
02/18/2018 11:18 am
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Pillar of the Community
Canada
798 Posts |
Commems, it is definitely possible. I'm going to call them on Tuesday and satisfy my curiosity.
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Bedrock of the Community
Australia
21788 Posts |
MoneyPenney: Got it, my error.
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Pillar of the Community
Canada
798 Posts |
Called NGC yesterday. For the most part, they didn't really say much other than that the numbers are in fact correct. They also said that in the case of the 100k Rooster coins, that they could have been a commissioned item and that a grade minimum was requested by the client. She said that the Hong Kong submission centre has the capability to handle large orders (hint, hint). The rest was the blah, blah about customer privacy and security.
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Pillar of the Community
Canada
5324 Posts |
None of the explanations from NGC makes financial sense, and the way the RCM operates , you can custom order bullion coins at a minimum amount, NCLT commissions are you pay for dies and upfront costs you can have up to 50% of the mintage. The Asian collectors are really smart, why would you slab a 100,000 of any coin, maybe this is his jab at the China counterfeits ! |
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Replies: 24 / Views: 4,260 |
First Page
Posted 02/18/2018 07:37 am
