Lots of good points here from many folks.
Here's what I observe at the shop.
If a lower end piece walks in, even a fairly tough one, the boss will generally let my coworker and I have first shot at it and generally cheap.
I recently bought an 1864 Small Motto
Two Cent Piece for $30. Like a problem free AG3. Bought it because TRUST was visible making it easy to identify. Greysheet bid is $110 in G4.
I already had nine of them but figured why not? I could turn it for $50 tomorrow if I wanted to.
NOW, had that coin been an XF40 totally different story. Doesn't matter if I work there. He'd want at least Greysheet ask if it's fairly close to retail which it is not.
If he offered it at $450 I might go for it. $550 I say no.
Enter the
TPG. Now this coin will end up at NGC most likely. Comes back XF40 and it's most likely headed to
ebay. I watched one in an old PCI holder recently graded XF45 and sure enough it went for over $600.
So you have the internet and TPGs hitting hard IMO. Information is easier to access and more people are "investing" whether or not they really have a clue.
Now Bonedigger you've known me for a while and I'm not big on slabs. However, many of my coins will end up that way simply because I want my wife to make better money if something happens to me.
If "investors" want to pay for that plastic when I'm gone I sincerely hope she sticks it to them every single day.
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Posted 08/15/2008 08:27 am
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