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Trying To Justify TPG Of Proof Silver Eagles

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carmykle's Avatar
United States
2448 Posts
 Posted 08/06/2010  5:27 pm Show Profile   Bookmark this topic Add carmykle to your friends list Get a Link to this Message Number of Subscribers
OK, gang Help me out here. I'm having a heck of a time justifying sending in SE proofs to PCGS for slabbing. I can't remember if I asked this before so If I did just refer me to that site please.

On one hand I want to protect the coins for my heirs, and on the other I can't guarantee what they'll do with them or even care. I hear some already, but you can't argue that the coin isn't much safer in a slab than if in a paper and cellophane flip and it's for the babies.

While the cost is not an issue, about a $1,000 bucks, I can get a couple of nice Morgans instead. But the coins still aren't protected and the kids don't have a base to negotiate if they sell them.

I did a quick cost analysis on the benefits of PCGS slabbed coins and found most of the Proof SE population they received for grading were PR67 and above; predominantly falling in the 68/69 ranges. While the price ranges differed wildly from ebay, Heritage, and other auction sites, only the PR70 produced any real profit for their sellers. Most 68/69 coins were in line with ebay (floored me) and below 66 slightly above mint purchase price. (Note: I agree with all that PCGS suggested prices on their POP reports are way, way, WAY high retail.)

There in lies my problem, do I do it for the kids or just put them in an AMOS slab and forget it? I have some really pretty DCAMs.
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okiepb's Avatar
United States
1213 Posts
 Posted 08/06/2010  7:13 pm  Show Profile   Bookmark this reply Add okiepb to your friends list Get a Link to this Reply
I don't think I'd send them in, but if I wanted to, I think I'd try to find a local coin dealer to help me out. I believe many of them have bulk submission privileges which lowers the cost significantly. Just a thought.
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wheatguy's Avatar
United States
1534 Posts
 Posted 08/06/2010  7:17 pm  Show Profile   Bookmark this reply Add wheatguy to your friends list Get a Link to this Reply
What do you mean "not protected?" Putting them in an AMOS slab will protect them physically just as well as a PCGS slab. Why not keep them raw? I personally wouldn't slab them unless there are a couple you are sure would get PR70's.
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BH1964's Avatar
United States
10982 Posts
 Posted 08/06/2010  8:16 pm  Show Profile   Check BH1964's eBay Listings Bookmark this reply Add BH1964 to your friends list Get a Link to this Reply
Original government packaging (OGP) is important to maintain. I'd leave them in the OGP. If you do put them in AMOS holders, which is risky with proofs, be sure to keep the OGP with them.

PCGS certifying these is not worth it to me cost wise.
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carmykle's Avatar
United States
2448 Posts
 Posted 08/06/2010  11:08 pm  Show Profile   Bookmark this reply Add carmykle to your friends list Get a Link to this Reply
All the other SEs are in slabs and in boxes. The proofs are in their OGP for exactly the reason bherring1964 advised. I agree with wheatguy, transferring the proofs is risky so you both have persuaded me go with more Morgans. Thanks, the kids will just have to cast lots for the silver.
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snick's Avatar
United States
70 Posts
 Posted 08/10/2010  12:16 pm  Show Profile   Bookmark this reply Add snick to your friends list Get a Link to this Reply
I agree with bherring1964, keep them in OGP. Do not send in for grading. Not woth the cost!

Just my thought!
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