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Valued Member
Italy
284 Posts |
Howdy!  Allow me to make this discussion generic so I will omit the specific coins I have in mind. I am "new to this game" and as such I'm very curious to gather some of your opinion and perspective on a conundrum I am currently facing. There is a coin I like and which I want to buy. It's pretty common (more than 10 millions struck and has over 15.000 graded in PCGS alone). Highest grade is MS68 with a population of less than 200. If I wanted I could buy right now an average MS68 PCGS coin for little more than $600. Exchange rate is also favorable right now but if it weren't .. let's assume that for $800 I could buy a decent MS68. MS67 go for much less and I could buy quite a few for under $200. Worth mentioning that out of the 20+ for sale right now ranging between lower MS to MS68 not one meets all of my "beauty" criteria. Now comes the kicker. I found for sale the "top pop" of this coin (the main coin imaged on PCGS website). It's a very nice coin. Toned just right, clean, sweet luster and all. Price is more than $2000. Obviously I am not "in love" with the fact that is top pop but there is a reason it is such.. it's very nice! By the way, price for the top pop is less than the auction record listed on PCGS. What would you do? Would you buy the top pop? Would you wait for a nice MS68 for about half the price of the top pop? Or even a lower grade if the appeal is just right? Thank you very much! I look forward to read your thoughts on the matter.  |
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Moderator
 United States
188213 Posts |
If money were not an issue, I would have every Ike in top-pop.  For me money is an issue, as it is for almost all of us, so my general advice is to buy the best you can afford and enjoy it.  In your case here, it looks like the price has come down from a peak. Your gamble is that this price has bottomed out and will not go lower. Now, if you are buying it just to have the top-pop, then enjoy! If you hope to maintain it as some sort of investment, then I cannot recommend it. Instead, buy the cheaper coin and put the balance into a true investment vehicle (stock, bonds, funds, etc). |
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Moderator
United States
95740 Posts |
yep, I think jbuck just said it best - buy what you can afford and to also be happy with.
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Valued Member
 Italy
284 Posts |
Very cool, thanks jbuck and Dearborn for your comments!  Yeah, to clarify the intent of my post is definitely not to vet this as an investment (though one hopes to at least break even if in the future we sell our coins). Probably my issue is that I feel bad to overpay for something so I guess I was probably seeking opinions on whether the premium would be worth it. Also buyer remorse is a thing I guess...! Anyway, I'll very much enjoy reading what comes out of this discussion!  Edited by joe_77
05/17/2024 12:35 pm
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Moderator
United States
188213 Posts |
Another thing to consider... I cannot differentiate MS/PR-69 from -70, so I am not going to pay extra for the latter. However, if I can get a deal, I will take it. For that reason I have one MS-70 in my Ike set. The same logic can be applied to your case. If you cannot see the $1200 difference, is it really worth it?  |
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Bedrock of the Community
United States
94367 Posts |
Remember, it's unikely to stay the top pop forever. All it takes is for one more to be graded and you'll likely lose a lot of money.
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Pillar of the Community
United States
2023 Posts |
I'd go with the 68, and aim for eye appeal at that, rather than a common, otherwise-attractive 67. All too often, and especially with older coins, "top pop" may be a higher technical grade but is just ugly (e.g. toning). Unless you're going for a registry set and bragging rights, get the nicest one you can afford and would be happy to look at.
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Valued Member
Australia
491 Posts |
Wow that sensitive......That is scary Quote:
All it takes is for one more to be graded and you'll likely lose a lot of money. |
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Valued Member
Italy
284 Posts |
Thank you all Your comments as well as a few days to think this through makes me lean towards continuing my search for a nice 67 or 68 and a whole lot of money saved. Actually I've also been trying to contact the seller of the top pop ( ebay seller from Michigan) to try to negotiate a lower price but I haven't been able to  Maybe they think I'm a scammer or something  So either way... Edited by joe_77
05/25/2024 05:08 am
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Replies: 8 / Views: 658 |
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Posted 05/17/2024 11:20 am
Uncirculated American Silver Eagles 
