Hello all
I was looking at a certain coin, the 1 oz. 2014 100th anniversary of WW2 "I Want You" Lord Kitchner platinum PT100 Pence coin (a proof 70). A search at "the bay" revealed ONE at PCGS for a mere, discounted, price of ONLY $8,549.95 plus $149.00 shipping from the London Coin Company. Of course, you have to put up with the wait for it to arrive from Great Britain, maybe some customs, a few forms, etc. They make a big deal "that it has a population of only 1 at PCGS".
https://www.ebay.com/itm/2014-First...100667.m2042So here I would be, thinking "boy, did I make out on this one", especially with the discount. So I would have about $8,700 in it, and with all the overseas "hassle" that would problably pop up. As I would look at my treasure, coin, I would start to think "man, almost $8,000 for just the premium only for one coin seems kinda high, I mean REALLY HIGH for about a $900 melt value coin, but would console myself that "IT IS THE ONLY ONE GRADED AT PCGS"!
(Actually I understand there are 3 other of these at PCGS but even, so, a pretty scarce graded coin, right?
Then, I would look up on the bay, after I paid for my "the only one graded by PCGS" coin, to the tune of $8,700. And then see this....
the same coin, available locally, for $1,500, with a population of about 300 in a 70 at NGC... about $7,200 off of the London coin "sale" price. It is the exact same coin, only it is graded at NGC, which I kinda prefer anyways. No shipping, no wait, no customs. NGC usea "UCAM", while NGC uses another term "DCAM" but they are the same as far as relief goes.
https://www.ebay.com/itm/G-Britain-...202783178545My buyer's remorse would start at my feet and spread quickly to my head. It would take days for me to self-justify my purchase, but even then I would know the truth.
It looks like there is a mintage of about 500 and would appear that the minter quickly after the minting sent the majority of them over to NGC before letting them go to market.
I would be kicking myself for weeks over this one. And if I had a wife who found out, brother...! So be aware, you new people... NGC and PCGS are the top two graders, it matters not which one you use or have, as far as I am concerned they are about the same, altho some might debate that, but not to the tune of $7,000...mike
Posted 10/10/2019 2:37 pm
