Modern Day Slabbed High Grades/Spec. Designations

For the same reason Doug, as well as every other long time collector has been saying for years. The short term drive modern bullion, not the long term. If investing is what you are doing, it's hardly the case to argue the point to those collecting. They are not the same. PCGS as much as said about a year ago that nearly 70% of ASE's today will grade a 70. How is that assurance the unrealistic prices paid will hold any value? Live and learn...who am I to give advice gleaned from collecting for many years. It's your money. Happy whatever
Guy~

 

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I think it's more of a graded coin market of the 80's or the beanie baby boom or baseball cards of the 80's and 90's.
In the short term it might make someone money, yes, but in the long term it's a bubble getting ready to pop.
My collection is for the long haul. I'm not a dealer wanting to flip short term.

Just my opinion.

 

I think alot of what many people tink about these coins is based on what they have heard or read others said. Watch these type coins for awhile, do a little research on them regarding actual sale prices, and I think they might surprise many.

 

I feel like an island in the forum but feel confident in what I do. I just wish that older coin collectors weren't so snarky. Everyday there are more and more modern day coin collectors and every day the older coin collectors like to make fun of them but the modern bullion collectors are the only ones that I know, that are making money so they can buy more coins. "I'm a collector first and then I sell to buy more coins." That seems to be the modern bullion collectors motto. Whereas the older collectors just collect. They take a chunk of their paycheck and buy a coin to help fill their set/s. I am selling bunch of 2009 UHR MS70PL at a $2k profit so I can buy more ASEs. I think that might be the difference. I started out collecting old coins but lost interest because of the price tag. It got really expensive, really fast and was not easily sellable. The best grades costs $100,000 or more. Way out of my price range.

I'm realizing that there are two religions in coin collecting and the belief systems are completely different too.

 

No, I'm with you in spirit just not in practice. I seriously considered becoming the first ASE collector in 1986 and have dabbled in these coins. In those days you could go through dealers coins and pick out nice ones for only five or six dollars each but for that kind of money I could save a whole roll of 1983 dimes or something so I kept putting off a collection or saving them. Even the premium was 50c or a dollar which just seemed like a lot of money.

One of these days I'll start a collection maybe.

 

So you yourself believe that they are not good long term?
I can respect that. I had a friend that made money with Beanie Baby's, he certainly was not in it to collect them. He actually thought it was foolish to collect them but he laughed all the way to the bank. It seems you too are following that philosophy.
That sounds like a good business model for making profits in the short haul. Isn't that what that ************ is doing?

It just doesn't seem good for the hobby in the long term.
But then again I'm just "snarky"

 

If you really want to feel like your on an island, try collecting rainbow toned coins. Both the classic coin collectors and the modern coin guys tell me repeatedly that the toned coin market is going to collapse. We are on year number 8 of that prediction not coming to fruition.

I am glad you are making money in modern coins. I think the reason you get so much criticism from classic collectors is the same reason you are making money. You have a much higher level of knowldege about modern coins that the vast majority of people who collect them. The general consensus is that most modern collectors are registry plastic collectors who don't really understand coins or rarity. The fear is that when these collectors actually realize that modern coins are not rare, the bottom will fallout, and the prices will plummet.

Every time I want to agree with the people making these predictions, I see the show Coin Vault while channel surfing on TV. I then remember how long that show has been on TV and am reminded of the stupidity of the American public. This alone causes me to think there is no reason why the bottom should fall out. Instead of making predictions, I will just advise you to collect what you want, and enjoy what you collect.

 

You're right, I would make fun of toned but don't know the market. I'm sure it is a niche with a following just like every market. Well maybe not beanie babies. Not sure what kind of coins those are. LOL

Duke, I wasn't directing any of my comments to you but I chuckled when you responded to me. You must have an English background. You made a comment on the word "snarky" with a snarky remark using the word "snarky" VERY IMPRESSIVE!

 

I did my best and it made me chuckle too...

 

Doug, I think that will surprise more than a few. I have to ask you though, have you looked at what some of the MS or PF 70s sell for now lately? I don't know what years you did the collecting, but I'm just curious how they compare now to what you paid for them at the time.

 

I received a catalog in the mail last week from a company and it was filled with NGC/PCGS slabbed MS69, MS70, PF69 and PF70 modern bullion (post-1986 ASEs, AGEs, AGBs and APEs). The majority were going for a lot of money at least to me (hundreds to thousands of dollars). I was definitely in awe. I think that there is still decent money to be made with them in the short-term via quick flipping. However, I think these may be risky in the long-term. TC

 

Can you site any specific coins in the past that dropped half in price? Since I have been talking about the 1999 coin, the assumption would be that its peak, in the past would be $60,000. Since I don't know how to do that research, it would be quite interesting. I would love anyone that can give me any information on past prices vs current prices on any ASE in MS70s. Not just one example, like mine because that may be the exception not the rule.