State Quarter for $3250?

Somebody please educate me. I know nothing about them.

I get the L&C Coin catalog in the mail. They are selling a PCGS Proof-70 Deep Cameo 1999s Delaware silver State Quarter for $3250. Is this quarter that rare? Even if it was, who would want it bad enough to buy it?

 

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Redbook lists PF65 Silver @ 45...not sure how it could be that much money then.

 

They've also got a clad 1976s JFK half in the same grade for $3,900.

 

I will take their side of the issue just for kicks, I see they had a "cameo" Roosevelt dime in PR67 in Coin World for $1500! An Everest coin for sure!!! Plus it had a good chance at 68 Ultra Cam in which case you would hit a home run for sure.

These coins are fabulous, folks! Someone suggested that the modern dollars should have a GD designation if the "gold" color were all there!

The possibilities are endless, and that is why the sky is the limit in modern coins.

 

I suspect they are a bit overpriced. For example, R&I http://www.randicoins.com/ has a 1971-S clad quarter PF-69 Ultra Cameo for $1900. I suspect finding a 1971 quarter in Proof 69 is a lot harder than finding a 1999 quarter in Proof 69. If you are truly serious about acquiring quarters at this grade, I'd start with R&I.

 

Collecting coins like this reminds me of collecting Beanie Babies. Maybe there's not too many in that grade, but 2 or 3 more pop up and the price drops by 50%.

 

I dislike paying a premium for perfection. I realize there are collectors of such, but I have a difficult time grasping the concept. Most of my coins are in the VG range... just where I like 'em. That $3250 could buy one heck of a lot of history.

 

Thats a lot of money to spend on a modern coin. But I guess to the collectors out there that want it they'd buy it. But I can't tell the difference between a MS69 or MS70 and I bet the MS69 would be quite a bit cheaper.

 

And I bet a 68 would be cheaper than that, and a 67 cheaper than that, and so on. And a p1 would be cheaper than that.

And the hole in the logic is that if you could get a problem free p1, you could sell it for a sum to a lowball collector

 

If you are considering buying a coin like that... at a price like that... I suspect you'd come out better taking half of the money you are thinking about spending and setting it on fire...

 

My sentiments exactly. How many tens of thousands are still out there ungraded? Once the quarter craze ends, the prices will drop out of the sky.

 

The PCGS price guide lists it at $3250.00 with a population of 79.
One sold on Ebay in January, 2012 for $1737.00.

NGC lists it at $2750.00 with a pop of 394.
One sold at the Tampa FUN show on 1/5/11 for $1725.00.

 

I once won a L&C eBay auction and ever since then (at least 2 years) I've been getting the catalog.
It makes a great bathroom read but I wouldn't pay the prices asked under normal circumstances (or extraordinary ones either, most likely!)

 

That's why I get em.

 

I thought the CC Morgans on the back of the latest catalog were on OK. Not spectacular, but not bad.

I got my 1882 CC today - it's a GSA and a beauty.

But I agree, their catalog prices seem to be a bit high. On their e-Bay auctions you can usually get a fair price. At least a market price.

 

When I won L&C eBay auction, I wasn't satisfied with the coin sent, so I returned to exchange for another.
No problems at all and the replacement arrived in short order.
But just the same, I wouldn't order from them or bid on their eBay auctions.

 

That would be a reasonable price, maybe, if it were a double denomination, mule, multiple strike, off center, clipped plancet, broadstrike, with full reverse brokage. Then that might be a reasonable price. Might be...

 

How so? The price is in line with the prices listed on Teletrade. And I know I'm getting a nice new holder, not one that it looks like someone polished with sand.

 

And...............one sold at Heritage on December 4th, 2007 for $17,250.

http://coins.ha.com/c/item.zx?saleNo=371&lotNo=67529

 

You really have to let go of Red Book as an accurate price guide as it is outdated with the prices by the time the book is published and on bookstore shelves.