The Sky is fallingl on all ms70 and pr70 coins....

I for one would like to buy the best coin I can afford. So I guess MS70 is the top dogs.
How would you like to own a MS70 Standing Liberty quarter today ? I only dream about finding a seller that has stuck one of these babies or any type coin away in a MS70 condition. If you are buying MS70's today, what do you think they will be worth in 3010 ? Not that we will be around, but maybe our Grandkids will have a fortune.

 

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Hi ! Chris,

What is the error on the Kansas State Quarter ? Can you post a picture ?

 

No offense, but...

 

Here it is! There are only 12 documented.

Chris

 

How did you get my photo ?

 

Wow ! Thanks Chris. I never heard about this error. Only the Wisconsin leaf problem, and I think there was one about some trees. Great pic's.

 

Plenty of people have said that about the ultra modern super graded stuff. I was offered a 2009 MS69 ASE for $24 today, they are $22 raw in my area.

 

Tulip bulbs people would even buy shares in!

 

While I am unsure of the timing, and I am suspicious of anyone who is sure, I do think there is a lot of downside to modern MS/PF 70 coins.

Not coincidentally, I don't own a single one of them.

The thought being -- if I can't tell the difference, why should I pay the (often 10x) difference?

 

It is so hard to get MS-70 coins though unless there moder. commems. or ASE's.

 

Here is the whole story as I know it......

My order for four sets was preregistered through the Mint Subscription Program. At the same time, a man from AZ or NM (can't remember which) also had his subscription order increased for the 2005 sets to 10 because he was going to give all but one as gifts to relatives. We both received our sets about the same time. Actually, I placed my order for myself and a friend who didn't have access to a computer. When I received them, I discovered that two of four the sets had the error, so in all fairness, I let my friend have one of the sets.

I contacted Billy Crawford about it in June, 2005 and sent him the images because he wanted to use it as the feature story for his inaugural issue of the online "Die Variety News". In the meantime, the other man discovered that not only did the set he kept have the error, but when he contacted his relatives they discovered that all 10 sets had the error. It was at this point that he sent his coin to Coin World and they ran a story on it in July, 2005. (I think) CONECA was also given the information for their files and the gentleman from the southwest was given credit for the discovery. At this point, Billy contacted CONECA to advise them that he had already ran a story on it.

Personally, I don't care who got credit for the discovery because that and 50c still won't buy you a cup of coffee. What was, and still is, important to me is that there have not been any more of these errors reported. To date, there are only these 12 known to exist, and in all likelihood, they are probably the only ones because the proof program at the mint has a much higher degree of quality control than normal production. So, people can talk all they want about the Wisconsin "High and Low Leaf". There were thousands of them struck. People can ooh and aah about the Minnesota "Extra Trees". There were a bunch of them struck, too.

Yeah, I have one of the 12 and it's in an NGC PF70 ULTRA CAMEO MINT ERROR slab. How often is it that you see a perfect error?

Chris

 

I have a couple platinum coins graded 70, I bought them for bullion prices, I have looked them over pretty carefully and cannot find a single mark or blemish on them, maybe I will spoon one of them for a ring? Nah...

 

Now there's a two dollar premium I might actually consider paying.

 

IMO...dealers shouldn't be selling coins that they don't want to buy back at a reasonable price.

 

not much!! now, imagine if you buy your grandkids some nice MS63/64 SLQ at today's price.

 

yep! in the very near future that's how you will feel about them MS70 coins.

 

Well then they would be buying a lot less coins and/or buying back at much less then.

 

Yep thats the only way I pay for these types. Can't loose there.

 

And of course the corollary:

Collectors shouldn't buy coins that dealers won't or don't want to buy back at a reasonable price.

 

Nice story Chris. Congrats on your great find. As far as the Kansas, Wisconsin & Minnesota error coins are concerned, I would like to have one of each just to add to my collection whether they are MS70 or just raw coins.

Thanks for posting.