Does anyone know if DSS buys their own coins, slabs, and sells to dealers? I am seeing many prez dollars for $6-$10 with shipping. Shipping a slab will cost about $2.00. After that, your making $4-$8. The dollar itself...reduces it to $3-$7. So....did NGC have a "dollar special" allowing dealers to get dollars slabbed cheap? Did they buy a bunch of proof rolls to slab themselves. Or are dealers just letting things go cheap to clear up inventory?
No. The only discount offered to dealers is when they just want a bunch of coins slabbed BU, (if they qualify), rather than numeric grading. DSS rarely slabs it's own coins through NGC, they are just power buyers.
At the risk of sounding like an idiot, Detecto, nobody wants these things. It's just you, me, and three other guys......
Ya...but there a ton of slabbed prez dollars on eBay real cheap. Surely people didn't spend the ($15?) to get it slabbed, to turn around and sell it for $5.
The fat boys send a ton of 'em in to get graded. If they don't grade at a certain level they get holdered in BU slabs (that's what the fat boys specify). Doesn't cost 'em a bunch of money cause they do get a bulk deal from the TPG'er. Just to add.....it may not be a lot of money to them, but for small fish like you and me, it could be substantial funds. All they need is a few '70's to command the big bucks from the registry schmucks.........
Why do some people pay a ton more for 70 over 69? Is there any difference unless you look under a microscope?
There's just some folks out there that's gotta be perfect. Lord knows I ain't and I'm lovin' it.......
its the registry game, gotta beat everyone else, and for some people money is no object, so they can spend that on 70s
Two threads posted within eight minutes referencing the same seller. Was one not enough for you? Yes, Detecto... NGC "self slabs" Prez dollars and a bunch of others you are not allowed to know about.
We get these posts a lot, cheap slabs. You have to remember the guys doing this send in tons of coins, so get the lowest rate. Secondly, they make all of their expenses back plus profit on the 70's they sell. Anything less than a 70 is simply a reject they sell for whatever they can get for them. They are not getting a special deal from NGC, nor losing money, since they already made their money on the 70's and are simply getting rid of anything not 70. So, the slabbing cost is irrelevant, their cost of the coin is irrelevant, as long as they make more selling these slabs than they would cracking them out and spending them at Walmart they are money ahead. Its a fools game to think the slab adds any value to these at all.
Not exactly sure how this fits, but that reminded me of the saying Ignorance Is Bliss. Instead of thinking of how to tie that in, I'm just posting this. Ignorance Is Bliss reminded me of another thing: We're all ignorant, just on different subjects. Anyway, people will kill(their bank account, that is) for the registry set stuff.
Don't bet your paycheck on that Detecto. Bulk Submissions can be as cheap as $10 a slab or as expensive as $40 a slab at PCGS. Delears pickout the best they can find and submit them 100-400 at a time. The high grade coins (MS67 and up) bring decent money which covers "some" of the cost of the losers (MS66 and lower). To minimize the "amount" of loss, loser's get sold at steep discounts once the market for the particular coin goes away. I have many, many Presidential Dollars that I paid a minimum of $10 each to get graded which folks simply do not want. If nobody wants them. then they really have no value other than taking up space in some storage container.
Exactly. By submitting in bulk you get a lower rate per coin. The handful that return at high grade make the bulk of the money and the lower grade coins help cover some of that cost. Here is an example: Let's say I submit 500 coins at $10 each bulk rate...so my cost is $5000. An MS66 sells for $5 and an MS67 sells for $40. If 400 coins come back at MS66...I can then sell those coins for 400 x $5ea which is $2000...so I have covered almost half of my total cost. Now, the remaining 100 come back at MS67 which sell for $40 each...so 100x$40 = $4000. So, the $2000 generated from the MS66 coins plus the $4000 generated from the MS67 coins is $6000...subtract my initial grading expense of $5000 and I have a $1000 profit. That's how the dealers think of it. They do their best to select coins that have the best chance of a higher grade and hope enough of them are correct to turn a profit. But, those cheaper coins clearly do help to cover the cost.
Here is the key as to why they submit them; http://www.pcgs.com/services/bulksubmissions.html Unless you can select MS70 coins at a 60% accuracy, you will be charged for all the coins and not even get most of them slabbed. Therefore, you include theMS-69's in slabs. BTW, I would be willing to bet that that $12 fee is negotiable if you are a major customer.
