Is This an OK deal????? Advice Needed on Purchase

Guessing gets you in a lot of trouble at times.

First, the mintage of the Marine Corps Commem is 600,000 coins. A typical modern commemorative dollar program mints 400,000 coins, but the US Mint felt confident that this issue would be a pleaser, and so authorized a mintage 1 1/2 times normal. Where I do coin shows (in the Chicago area), these coins don't sell very well. We seldom get people looking for them raw, let alone slabbed.

Second, if you are building a set of slabbed modern commems, remember to buy the coin, and not the plastic slab. Many dealers, sellers, and experienced collectors cannot tell the difference between an MS-68 and an MS-70, and therefore when buying these you are typically taking the TPG at their word. (Enough said!)

Lastly, I think you are assembling these sets in the best form that you can because you are thinking that someday they will be sold, either by you or your heirs, and you want the highest resale value. If this is the case, then learn to grade the coins yourself, and find undergraded slabs, buy them and have excellent coins and save yourself the difference.

 

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The 70s have an allure to them. Sometimes the mark up is outrageous though. Some 70s I will buy and some I wouldn't.

I didn't find a 70 on Heritage. The price guide there gave 90-150 for it.

I found a MC NGC 70 for 95.00 Buy it now on ebay.

Here's another going in 4 hours we can watch that is pretty low right now.

http://cgi.ebay.com/NGC-MS70-2005-M...ryZ41108QQssPageNameZWDVWQQrdZ1QQcmdZViewItem

Maybe one could be had for 80.00 somewhere. I'm not the kind of person that can wait around to find one. I'd rather pay the extra 20 and have it if I really wanted one.

Everything has a price 'range'. I don't think there's a definitive answer on what one is worth. You at least want to be in that range and if you can get below it, that's great.

 

all one needs to do to get one at below the "price range" is to find undergraded slabs and pick them.

Besides, price ranges vary. I would never compare anything based on the price ranges that Shop-At-Home used to claim, nor ShopNBC, but they are legitimate price ranges. Be careful of what price ranges you use.

My suggestion would be a subscription to CDN, and then you could see what dealers pay wholesale for such stuff, and what they sell it for, and compare to that.

 

Ok. There were 548,810 Proofs. Only 49k MS. I don't know how they typically sell.

What is a good price for a MS-70 then? Is my price range way off?

 

there were NOT 548,810 proofs... where do you get these numbers?

 

Ok, thanks.

Well, I guess that's why we discuss things.

 

Just read it out of the Red Book. They can't be trusted?

 

I don't have a copy of the current Red Book, but I can tell you that 49k is clearly a typo for unc marine corps commem production. IIRC, the mintage was closely split between the proof and the unc, and I think that the prices bear it out. If you look at price guides, there is no large difference between the price in the two coins as one would expect if the mintage of unc vs proof was roughly 10-1. (See 1998 Jackie Robinson gold commem for example of what happens when mintage of an option is extremely low)

 

my real plan, as I am not interested in the Prez sets is to sell those on ebay. Just take a look at what 2007 and 2008 proof sets grade 70 are going for....it is outragous! But if someone is willing to pay for it I will sell them. No doubt I could get 150 combined for both sets. That would mean I am paying 25 bucks for the other 3 coins. Pretty good deal I thinks!!!

 

I like this train of thought..... People often forget that 49k is a lot of coins that are mostly in a very high level of preservation. I don't want to take away from any perceived demand.... but come one. Let face it, they are readily available.

Same with every ASE proof or UNC..... including the 95-W.... There are somewhere around 50,000 of these all in high levels of preservation. I do have a thing for ASE's though... I just pay bullion value for them. I like the proofs too, but paying out the yinyang for a graded ASE is silly. IT IS AN OUNCE OF SILVER!!!! Nothing more really.

What would those kind of numbers do to a truly rare coin? Ruin it's reputation...

MS70 presidential dollar proofs???? Need I say more? They are neat, and educational for children.

I would take your money and go buy some nice MS Indian Heads.... you can find nice ones for the right price, and they might actually appreciate in value over the next decade...

Just find something other than a handful of overpriced modern junk coins. The USMC commem might be worth it for $80, but once again, I find it hard to stomach that kind of price for a coin that will be readily available far into the future.

Shoot for $230 you might run across a nice 1852 MS61-62 $1 gold piece.... much cooler IMO than the stack of junk you might be thinking about acquiring. I would also venture to say there are less than 50k of them to be had, but I could be wrong.....

 

you sell them at that price, and you've done ok. I remain sceptical. Typically when my (coin store) boss offers me something, it means that he either:

a) knows I collect them and he owes me a favor, so he foregoes profit for friendship

b) has too many already and doesn't know where to dump these

or

c) needed what else he bought with them, and took these to get that. Now he offers them to me at a discount, rather than carrying the inventory

 

can someone post them mintages for the marine corps proofs and uncs? I believe that the figures used here are quite a bit off. Then again, sometimes I am quite a bit off... which is it??? Please help! LMAO

 

That is the going price right now for Grade 70 Prez's. That was my intention to begin with. Just a quick stroll through ebay and it will confirm what the going price is on there....it is so crazy. I just couldn't believe it when I saw what they were going for.

 

GDJ, you can seriously buy a proof $1 for less than 3X face? I'm quite surprised.

 

coin101,
Why did you ask since it seems you have already made up your mind?
The Marine Comm's are quite common....I see a good many of them at the coin shop, and at the two shows I attend. They aren't going for anywhere near 100. In fact...I bet I could buy a good many at around $50 each.

The coins graded by ANACS wouldn't be worth more than face---the way ANACS has gone downhill. And the ASE are worth just what others have said.

That being said---you seem to have already made up your mind and the only way you will really be happy to to buy this lot. If you are really lucky you might come even...but I will say that you will get burned...

Speedy

 

Well right from the mint they are right under $3.75 each....on Ebay I've seen them go cheaper than what the mint sells them for...so the answer is yes.

Speedy

 

So I could have so ammo to go back to him and renegociate the price. With all the goint points you guys have made it is easier for me to justify a drop in price. I may even be able to get him down to 150.00 with all of the good points that have mentioned.

You are right I was going to buy the lot. I knew I could see the Prez's on ebay and get minimum 150 back.

 

Get him down as far as you possibly can, then sell the prez dollars for as much as you possibly can.

Welcome to the coin business.

 

THis has become my new strategy lately. I have done this a couple of times and have had some success. The PreZ. Dollars are prime time for high prices on ebay. If I can get a nice prez coin and something else I can use the profits of the Prez to off set some of the price of the real coin...if not all of the price of the coin I really want.