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PCGS Devalued Coin Prices.

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Author Previous TopicReplies: 12 / Views: 2,176Next Topic  
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Mokie 2-4-u's Avatar
United States
13 Posts
 Posted 10/09/2019  1:14 pm Show Profile   Bookmark this topic Add Mokie 2-4-u to your friends list Get a Link to this Message Number of Subscribers
I have been collecting coins for the last 21 years hoping to resale them for a profit but recently PCGS devalued my coins I purchased a 1999 Wide AM ms 67 and ms 66 the value for the 67 was $2,750 and now it is $850 that was a $1,900 drop I can understand a small drop but $1900 any thoughts on this.
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United States
1543 Posts
 Posted 10/09/2019  1:38 pm  Show Profile   Bookmark this reply Add Gincoin43 to your friends list Get a Link to this Reply
My thoughts: any newer variety has the chance to drop as people find and submit more of them.
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bobby131313's Avatar
United States
24177 Posts
 Posted 10/09/2019  1:41 pm  Show Profile   Bookmark this reply Add bobby131313 to your friends list Get a Link to this Reply
It's not PCGS's fault.
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John1's Avatar
United States
56855 Posts
 Posted 10/09/2019  1:41 pm  Show Profile   Bookmark this reply Add John1 to your friends list Get a Link to this Reply
to CCF. TPG's almost always over value their own slabs. Check ebay sold values and some auction houses.
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Errers and Varietys's Avatar
United States
74906 Posts
 Posted 10/09/2019  4:06 pm  Show Profile   Bookmark this reply Add Errers and Varietys to your friends list Get a Link to this Reply
Errers and Varietys.
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Coinfrog's Avatar
United States
94367 Posts
 Posted 10/09/2019  5:36 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Good think to remember when buying any expensive coin - there will never be fewer of them, only more, and this is especially true with a modern variety.
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Daves Errors's Avatar
United States
1566 Posts
 Posted 10/09/2019  5:37 pm  Show Profile   Bookmark this reply Add Daves Errors to your friends list Get a Link to this Reply
Its only worth what someone is willing to pay or bid for it. I have seen coins priced HIGH and sold for ((( WAY LESS ))). If they are not selling THE PRICE DROPPS. As they say START HIGH THEN GO LOW to sell. Any coin value has the Potential of dropping OR going up.
Edited by Daves Errors
10/09/2019 5:41 pm
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Conder101's Avatar
United States
17884 Posts
 Posted 10/10/2019  1:17 pm  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply
How many MS67's had the slabbed at the time you bought yours as compared to today? If the number has gone up, the price goes down. Also in the early years of a new "hot" variety, prices are speculative and will latter fall to a market sustainable level. There are always a lot of collectors that HAVE to have the latest thing, and they overpay and push the price up. Then when the new hot item comes along the market cools and prices fall.
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Mokie 2-4-u's Avatar
United States
13 Posts
 Posted 10/10/2019  2:36 pm  Show Profile   Bookmark this reply Add Mokie 2-4-u to your friends list Get a Link to this Reply
Thanks for your response Conder 101,there were only 8 when I purchased my coin and when I checked David Lawrence had purchased his coin in 2011 and paid $2,300 for his coin then the coin I purchased came up for sale and I won the bid and thought I had got a great deal then the same person I purchased mine from also had 2 more and sold them about a month later pretty close to the same price I paid then around 9 months later I was checking out PCGS and noticed the value had dropped by $1,900 kind of hit me hard especially when in a couple of years I was going to resale my coin for a profit but not now unless the value goes back up the same coin has a FS-101 designation and there's only5 of them and there valued at $2,750.
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hfjacinto's Avatar
United States
7293 Posts
 Posted 10/10/2019  2:43 pm  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply
The moral of this story is to not buy slabbed coins ;)
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coop's Avatar
United States
62064 Posts
 Posted 10/10/2019  10:34 pm  Show Profile   Bookmark this reply Add coop to your friends list Get a Link to this Reply
Or don't fall for PCGS suggested values. But by the grade on the slab, on a dealers coin price list and go by that instead.
Valued Member
United States
160 Posts
 Posted 10/10/2019  11:33 pm  Show Profile   Bookmark this reply Add Sasquatch to your friends list Get a Link to this Reply
Buy the coin not the slab. The only thing the slab does for me is show it is genuine.

As for pricing, I watch what coins sell for on ebay and at auctions. I ignore the retail price, especially the sellers.
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tropicalbats's Avatar
United States
6116 Posts
 Posted 10/11/2019  01:32 am  Show Profile   Check tropicalbats's eBay Listings Bookmark this reply Add tropicalbats to your friends list Get a Link to this Reply
Most registry grade varieties seem to have shown a sustained drop in price over the last five years. A couple have gone up, but most have gone done quite a lot. Not sure if that is because the collectors who want them now have them and only second tier folks are bidding on them not looking for a registry coin but just a nice example, or a lack of interest. But yes, top variety coins in general are worth less now than not that long ago.

That dynamic changes over time, but in general over long periods of time, so I suspect this is a pretty good time to buy variety coins, and less favorable for selling them. That said, I am in agreement with the comment that over time, there will be more of them found not less of them, so prices may not ever reach previous levels.
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