I love modern graded coins

I love modern graded coins. They act as a sort of a heat sink and draw a lot of the money in the hobby as a whole. It lets me buy coins like

1862 NGC Seated Liberty Half Dime NGC MS-63 ** EYE-CATCHI... (290988902928)

For $292.10. It makes me laugh when I scroll past modern after modern crap in a slab actually selling for multiples of that. If it weren't for the modern slabs that money would most likely bid up what I like to think of as "real" coins. I know there are modern coins with true value- double dies, no s proof's ect. However it just amazes me that people buy these ms/pf 69-70 coins with no real value. Especially when you look at mintage and population reports. I was just looking at one where the mintage was 2,000,000 and the pf70 % was 5% of the total population graded. Then multiply it out there are 100,000 70's out there just waiting to be graded. Yes I know some will say only the best are submitted but really most of the coins are just in collector hands ungraded.

There are 645 TOTAL all grades for this coin in ngc, and about the same all grades pcgs. And my coin even has killer toning.

Please "you" the modern collecting guys keep competing for who has the best modern registry set and I'll keep collecting coins that start with 18**. God bless America . Go buy a bitcoin

 

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sweet coin.

 

$292 for that coin?

 

It makes me laugh when I scroll past insulting post and they can't even rotate an image or take an image that's in focus.

 

I agree with all that. People are slabbing so many coins these days, no ones going to care about slabs eventually, I feel. The cost to slab a coin as well makes doing it with modern coins worthless. When do you plan on that coin even being worth what it cost to slab it? Never that's when.

 

Never say never!

I sold a 2005-S KS Silver Proof SQ NGC PF70UCAM, FS-901 for $1,000.00 and a 2007-P GW Prez Dollar NGC MS64, Mint Error Missing Partial Edge Lettering for $228.00. In both cases, the fees including attribution, cost about $20.00 for each coin.

I've sold dozens of slabbed 1999-2008 MS68 SQ's & Kennedy's in the $150-175 range, and they all came from bags I bought from the Mint. In every case, the grading fees were less than $20 per coin.

I also have a 2001-D Kennedy NGC MS64, Mint Error Reverse Clad Layer Missing which I don't plan on selling just yet but have been offered $550 for it. It cost about the same to have graded and the original acquisition cost from the Mint was 68c.

I'm sure there are others who appreciate your lack of enthusiasm for moderns. Keep up the good work!

Chris

 

Oh Ryan, you been listening to BU toooo long...

You guys need to get the facts straight before you post such crap.

Here's an example from 2013, the 2013-W Proof $50 Buffalo at original mint price.
Cost $1790
Grade fee $80 at the most.
Total cost....$1870

Today the PCGS FS 70s are going for apx. $2600+

$2600 minus $1870 = $730 profit at least.
Now Ryan, your opinion of "never that's when" is pretty lame.

Ryan, are you from Colorado?


Oh yeah, I could name plenty more (2009 UHR) but its been done before, y'all just don't listen.

 

I not only had a 1967 10 Lirot Israeli Victory coin slabbed, but I paid NCS to remove PVC from it. Overall, I spent $35+shipping conserving a $15-20 coin.

Given that it was the last coin my grandfather gave to me, I consider that money very well spent. Enjoy your half-dime!

 

Demand is king in numismatics. Slabbed bullion exists because many, many people want it. Whether that changes over time, who knows? Not saying that it is rare, but the market is enormous for it...just think of all the online dealers. If you collect what you like/enjoy and let others do the same, all are happy. TC

 

Your 1862 coin is a modern coin also.

 

"Modern" is a relative term, of course.

 

Ha. The fundamentals that caused you to pay $292.00 for a dime are the exact same as the fundamentals for modern coins. You pretty much just made fun of yourself man. Thanks for sharing.

 

There is no such thing as objective value.

 

I approve of this message. I think modem slabbed coins are silly as over %90 of modern bullion coins are either a 69 or 70. I'll stick with the classics myself.

 

Sigh. Whatever happened to each his own? Let everyone collect what they want to collect. Do what makes you happy. Too much negativity in the hobby today.

 

There was a post in another bullion thread that really summed it up correctly. The really rare ASE's are the one's that are uncirculated and grade 68 or less. I might have said 67 or less, but the point is well taken. My apologies for not giving credit to the poster, I don't recall his aka at this time.

 

How would the number of slabbed coins cause people to not care about slabbed coins? It's not like slabs are rare.

 

After 7 1/2 years of studying the Egyptian pyramids I can assure you that ALL coins are moderns. Of course the pyramids are modern compared to the invention of agriculture.

 

That is exactly my point. Right now some people are spending their coin money on tpg moderns which lowers the demand for historically relevant coins. Thus others are buying modern crap and my eBay purchases are cheaper because the others are bidding on the tpg 70 instead. Thanks others for saving me money

Great example I could not have picked a better coin to illustrate my point. I owe you one. See below coinfacts



Please note there are more 70's then ALL the others grades COMBINED! People bought beanie babies for thousands of dollars.

Here I hope this makes you feel better

 

So... you are certain that it's the people spending their $ on modern slabs and not lack of interest in half dimes that is driving the price? I don't think it's the same people just moving their money over to moderns, I guess there may be some correlation but very little. ( I like half dimes myself, nice coin btw)