Modern silver coins?

This is a very common practice due to how much more buyers are willing to pay for coins that grade PF-70. They'll submit 100's, even 1000's, hoping for that grade, knowing that if a few make it, it will more than cover the cost of those that don't, based on the additional amount they can sell the 70's for. They'll usually tell the TPG not to bother slabbing anything that doesn't make at least 69 (sometimes 70 if they're really picky); that saves them nothing on the grading, but does save them on the return shipping at least, and they're more convenient to sell and store at least. The ones that don't make the cut they'll sometimes sell raw, or yes quite often even by the roll, especially if they're silver.

To maximize profit they usually examine them before submitting, trying to cherry pick out any that look like they can go 70. Kind of a gamble as the TPGs can be finicky and are not perfectly consistent, but again only a handfull need to make 70 for it all to be worth it.

 

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^First, i don't think this happens much with modern issue silver quarter proofs. The sets are more valuable in their original mint plastic capsule sets. So the demand for quarters that have been cracked out and sold for PF 70 is low.

Second, I don't think I've ever seen rolls of modern silver proof quarters at any of the major online dealers that sell slabbed coins. These coins are expensive to acquire and I can't image they would ruin them by putting them in tubes. It immediately reduces them to junk silver status. A proof quarter is always more valuable even if placed in a cardboard holder. People will collect them for booklets.

Finally in regards profits to a set of PF 70 vs a PF 69 silver quarters. I don't think there would be a big enough difference in price, these are not expensive coins to warrant having "1000s" graded just to pull a few PF 70s out of the bunch. As I said earlier, for the coins under discussion the economics are not there.

I simply don't believe it.

 

It must happen enough. See below link:

http://www.apmex.com/Product/46944/10_Proof_Statehood_Quarters___90_Silver_40_Coin_Roll.aspx

 

^I stand corrected. Thanks for posting that.

 

Mr. Flute-
"They DON'T EXIST!, THEY DON'T EXIST!"
He simply doesn't believe it; ergo, it cannot be.

btw, I already pointed out that APMEX lists all sorts of numismatic goodies as "Bullion" here: http://www.cointalk.com/t218292/#post1584890
We are told this is "ignorant" - don't be so ignorant Mr. Flute!

btw: I love your hair! What is that hairstyle called?

 

Unfrozen Caveman.....

 

Yeah if you read that post I said they were not initially sold that way. Please show me a link where the US Mint sells rolled silver proof coins as new issues. You said they exist. I also said this:

You said there was a collapse in the numismatic value for rolled silver proof coins. There is no such thing. Period. The numismatic value was destroyed when the coins were rolled in the first place. That is why they were put into rolls. ​

Those rolled coins prove this point exactly. They are selling from Apmex, for a little more than melt value. While I was wrong about the availability of these coins, I wasn't wrong about what I said about your post. Furthermore I admit my mistakes and there is nothing wrong with that. We are here to learn.

(hint: if you link a post, you should try to read it first)

 

No offense intended, but you should heed your own advice. You obviously didn't read my post concerning the above statement about why they were put into rolls.

Your statement is contradictory, and I likened it to "What came first, the chicken or the egg?"

Chris

 

I wasn't responding to your post. That should be obvious from the context.

 

Well, you're obviously wrong there, too. No one can figure out WHO you're attacking, now.

IF you mean me (??) I've never said "the US Mint sells rolled silver proof coins as new issues. You said they exist" nor did I read that in Mr. Flute's comment either. Everyone sees those rolled Proofs - it's patently ridiculous to insist rolled Proofs didn't exist OR that major dealers didn't have them. It's very ugly-behavior to willfully misrepresent others, whomever you're defaming here. You should apologize (not "apoligise") for that, appropriately. And your battles are a huge distraction from the adult discussion, IMO.

My point that "premiums (and numismatic value) for Silver Proof Quarter Rolls has essentially collapsed" is confirmed by all the intelligent & civil posters here, thanks. Low premiums still equals a great deal!

 

go back to your corners
:dead-horse:

 

This is because I don't "attack" people. You should take some council from this..

I do find that your efforts to minimize and discredit coin collecting and holding physical PM to be a bit amusing but don't mistake when I point out your errors as an "attack". That is against forum rules.

 

well regardless of what you people believe. I am new at this and appriecate the conversations above although I am some what confused now I actually learned something through your alls comments.. and I like that kind of passion for the hobby. thank you all much..

 

I think what you should take away from this is when proof silver coins are available for close to melt that from a bullion perspective they're a good/decent buy. Keep in mind when proof coins are put into a roll their mirror finish fields and/or details that appear frosted will likely become damaged, lowering the numismatic value of these coins.

 

IMO, modern proofs of circulating coins, will maintain and gain a numismatic value ONLY if they are kept in their original packaging and not broken up. Break them out of the mint packaging and you ruin their present and future numismatic value. (there are certain specific exceptions to this)

 

it might be. that would mean they'd have been handled. and aren't proof quarters worth more in sets?

 

I wonder why some people who don't make any sense often listen to themselves.

Chris

 

wow, that was really taking a stand.

 

I've been hit with "Infractions" twice before.

Chris

 

Believe it. I'm not saying it makes sense, just that people are doing it. And more than you seem to think. Although it happens with modern commemoratives a lot more often then coins from silver proof sets, true.