So I posted this article link in a recent post but no one commented on it so I thought I would make it a thread. Personally my opinion of modern graded coins is very consistent with this article. I will post the whole article below. If anyone thinks modern graded coins are a good thing I would be interested to hear specific reasons why. It is easier to use the link but for those who would rather I have the article below. http://www.coinweek.com/modern-coins/the-collapse-of-the-2001-s-sacagawea-proof/ edited - copyright Coin for the thread. I always try to end all my threads with pics of one of my coins. The truth is after the post your toned and post your coin porn threads I'm starting to run out of worthy coins. Here is a lesser but still nice coin. This one is all about the orange. New concept. Cat for the thread. My other cat
I own some modern errors and a 1981 sba type 2 dollar pcgs 69. I understand errors and variates but simple standard modern graded coins I don't. If I want them I can buy them raw cheaper and can usually get a 69 really close to ungraded market value, which is the whole point of my question and the article.
Vegas Vic, I want your cat! Adorable!!! PF70 and MS70 anything in the modern collector realm are a waste of money. Trust me, I rode that bandwagon for a while---and I'm still regretting it.
Amazing, but it just says what I have been saying all along, Modern high grades are just tulip bulbs in disguise. Ah, I can't find a link right now. Just Google it.
I tend to agree with the article. These coin prices (for the most part) are completely dependent on population and with so many being produced...as more get graded, the price goes down. I'm not against buying graded modern coinage, but I won't pay huge premiums for 70s.
I've done very well with some graded ultra modern coins. These coins are worth much more when graded 70: 2009 UHR St G and ASE five coin SF mint set are both worth more graded pf70. The 2009 UHR St. G. was worth in the high $3Ks and more, ASE five coin SF mint set were selling for $1,500.00. Check the prices on eBay.
They are right now...but as more and more of them get graded (and a high percent will grade as 70), the population will rise and the value will likely drop. It's not always the case, but it frequently has been. It's all supply and demand. These "70s" are often not in low supply forever.
I hear you but it is what it is - the graded 70 coins are worth more then ungraded coins in the same condition. The 2009 AGE UHR has been on the market for five years and the 2011 SF five coin set has been around for three years. I don't believe the prices will change much. OTOH, you may be right. From the above coins I learned if I was collecting coins for their value I should have sold the coins as soon as they were graded 70s, Early Release.
Shoot, don't you guys collect? If you're in this hobby to make money you're gonna get stung time and time again.........
My point is...these are being graded all the time. As the number of graded examples climb, they become less rare and their prices drop. This is exactly what happened to that 2001-S Sac and has happened to a lot of other coins. Yes, these immensely popular coins will always have value, but I think people paying premium top pop prices today will see a loss of money.
I was not saying that modern coins will only go down in value. I'm saying pcgs/ngc 70's will likely not hold their euphoric initial value.
Graded...and re-graded. If the pops are low enough and the price differences big enough on some of these modern "rarities" -- even the PF69 coins are being cracked and resubmitted. If you think the consistency of a TPG to call an MS65 an MS65 again upon resubmission is bad -- imagine the 69/70 hair splitting. Let's be honest, the "difference" between a 69 and a 70 is basically a function of what the grader ate for breakfast or how recently he/she has taken a break. It's a total crap-shoot.
Early toned coins and cats a man after my own heart!! As to all these modern coins I look at them as bullion and bullion alone!! If I can buy them around spot and flip them I would but I'd rather put my money into a trade dollar or something of the like! By the way you can repost your coins whenever I know I never get tired of seeing them!!
"Shoot, don't you guys collect? If you're in this hobby to make money you're gonna get stung time and time again.." I ran out of storage room so stop collecting coins some years ago. However, I'm glad that I sent off to NGC the the unopened five ASE five coin sets.
