I am very new to this hobby and I have a question hopefully someone answer. I've been looking at random newer coins just poking around and I've seen many graded by PCGS but the coin, lets say a silver state quarter, is selling for $10. If the cost of grading is $18 dollar and the melt is $6, thats $24. Are there that many people selling at a loss or am I missing something here? Thank you for any insight.
Dealers submit them in bulk for grading at discounted prices, and they hope they will get enough 70's to offset the losses on everything else. Sellers on eBay try to submit them as early as possible to take advantage of the "feeding frenzy" from those people who are trying to fill their Registry Sets. Some of these sell for unreasonably high prices, but it doesn't last too long and the prices for even the 70's will drop. Chris
Also you have to factor in that the silver value of the coin was lower back when the state quarters came out. Also interest in that series has really declined since it ended so many of the lower grade coins are being sold at a loss just to move them. I have seen many of the PR69DCAM's sell at melt prices so yes many are selling them possibly below cost now. A weak market is often the best time to buy, the problem is that there are not as many buyers in bad economic times.
