Can You Grade?

when they decide to sell these PR/MS 69/70 coins they'll be in for a rude awakening.

 

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On the other hand, they could just keep selling them back and forth to each other, like some sick game of "hot potato", and delude themselves that they're finding new collectors. You know, like what happens with the classic coin dealers at every PNG pre-show, and pretty much every Whitman show, Long Beach show, PAN show, FUN show, CSNS show, ANA show, .....

"Umm yah, David, the collector wasn't here at the [fill in the blank] show, must've been the weather I guess, but WOW, I did a pile of wholesale business." Yah.

 

Given the constant erosion of the 70 premium over the years (and there's no doubt it's happening) there will be less and less incentive to distinguish between 69's and 70's. I submit that most raw collectors don't care enough to make the effort.
I buy some of the modern commems, both from the mint and the aftermarket. If the coin has no naked eye visible defects I grade it "acceptable for my collection". That's the only grade I care about, no numbers are necessary.

 

for your collection, does a MS70 rather than a 66 really make that much difference? A MS66 Barber half would be such a beautiful coin. I think that it's the hope of selling (preferably for a large profit) that is the motivation.

 

At least they are willing to trade with each other now, how often have you seen a transaction b/t dealer to dealer on these MS70 coins? ..The answer is NEVER! these MS/PR70 dealers are setting up at shows just looking for new preys...in other words "the unsuspecting public"..

 

how come they are in short supply when i need them?

 

Maybe that would explain the milk spots LOL

 

Exactly my point, Fire. Dealer to dealer means NOTHING to me. Moderns sell to COLLECTORS, not dealers, and in the end, that's the only kind of transaction that matters.

 

Exactly my point! dealers don't want any of these high grade moderns, so they must seek out the "unsuspecting public".

You can try this experiment yourself...bring 20 nice MS63/64 classic coins along with 20 MS69/70 moderns to any major coin shows and see which 20 coins will sell first.

 

That is admittedly dependent on that little adjective "major". Nothing has changed the fundamental need to match the material to the venue. Moderns in OGP, not so much in slabs, do exceptionally well at local shows near me. The dealers sell through their inventory at higher rates than classic coin dealers do. There is a healthy (not hot, just healthy) aftermarket in OGP moderns, whether it intersects with where you are doing business or not. Will it expand to include overpriced 69/70's? Meh, maybe, but probably not. The "public", unsuspecting or otherwise, are the only buyers who matter.

 

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Run outta steam there?

 

Crummy spotty connectivity led to a double post. Edited it down to a "."