I Bought This on eBay

So, I been a member of CT for a few days and already learned some valuable lessons. I bought this coin BEFORE I joined so it isn't like I'm ignoring your advises, sir @GDJMSP .I'm way more careful now. I paid $61.02, shipped and 'PCGS Price GuideSM Value' lists the same coin at $185. I did read a thread here a few days ago that PCGS Price Guide could be wildly off but I hope I've done better this time.

 

Log in or Sign up to hide this ad.

Dallas, glad you are here sir.

Btw, just for clarification, it is YOUR hobby. While I agree with Doug's opinion of modern coins and grading, that does not mean I have any right, nor Doug, to tell a man how to enjoy yourself. If you like these coins, more power to you. If Doug taught you the grade of 70 in modern coins is kind of meaningless, so maybe you shouldn't waste your money chasing 70's and just collect them in OGP, then that is great too.

I just hope anyone here remembers this. Anyone criticizing how they buy/how they collect/what they collect is simply doing it out of honest good intentions. If you disagree, and like paying for ANA special edition, MS70, First Day of Issue, special black inserts, then good for you. I am just happy whenever anyone gets joy from coin collecting, any opinions or words of advice is simply from a "veteran" of this hobby given with the best of intentions.

Number one rule around here, enjoy yourself.

 

Now I look back, I somehow find myself leaning towards half dollars a lot. I don't remember if they were ever in big circulation, they certainly are not now.
Since I'm also a big JFK fan, a roll of shiny 1964 Kennedy Halves are the very first ones I bought. And I just recently start looking into Barber Halves, they seem very challenging.
What I have learned for last few days reading through some of the posts here, I need to STUDY, focus and specialize my collection. I have been all over the place.
The best part is, for the last few days, I have been just dying to log on to CT. If that's not enjoying myself, I don't know what is.

 

Looks like we hooked another one!

 

My advice is if you want to buy modern coins to buy them raw in mint or proof sets

 

To see if anyone agrees: In my opinion the 1964 Kennedy half is what killed the half dollar as a circulating coin. Before that 50 cents was a very useful denomination with buying power of $2 to $5 in today's money. When President Kennedy died and the design changed, a lot of people thought the correct action was to stash away every one rather than spend them. My mother did and she was a reasonable person otherwise. We started spending quarters which were worth less after 1965 and saved the halves.

 

A reasonable person otherwise? She was smart to save them! She could of sold those kennedys for a 2,000%-3,000% gain in 1980 during the hunt brothers run up.

Even if she still holds them now they could be sold for about a 1500% gain over 50 years. (which isn't actually that great, but there have certainly been worst investments)

 

Modern - but still a very nice pickup. I like it - not what I collect, but still I like it. And Doug(and others) have given some pretty good advice in other threads. I personally like 69's as good as 70's. Anyway - nice pickup.

 

Well, you gotta ask yourself, If the PCGS Price Guide Lists this at $185, then why in the hell would I get it for $61.02?

Is it possible that the price guide is w-a-a-a-y off? Or is it possible that certain coin dealers would "like" the price to be listed at $185 for those casual "walk-ins"?

Remember, PCGS was formed "for" Coin Dealers and is supported by "Coin Dealers".

 

I did something here that I have never done before, I clicked the ad banner just to support the site. This is by far one of better designed web sites, especially in a Forum format I have been to. Very easy to use, I stepped right in and felt home. But more than that, the depth of information here is just tremendous, thanks to all you knowledgeable members. I just have been on the receiving end but hope to contribute, soon. Yes, I'm hooked.

 

You are correct. I have read articles that have said exactly that, when the Kennedy half came out they were hoarded. By the end of 1964 the Mint had decided to eliminate silver from the dimes and quarters and reduce the amount in the halves.

Whether the new Kennedy half prompted the moving of the production of proof coins to San Francisco I do not know. I would think they were already planning it.

During the period 1965-67 no mint marks were placed on coins as the production at each of the three mints were way off and the Mint did not want a repeat of the 1950-D nickel fiasco where the public knew that the production of five cent pieces in Denver was going to be low and hoarded them.

 

I don't know the story behind it but when silver was more than $40 an oz. I saw a lot of 64 Kennedy halves in mint condition almost at spot price. Whoever hoarded them back in 60s, made some good money and whoever hoarded them in 2011, lost a good deal, including myself. I think I paid around $15 a piece.

 

Well, one way to look at it is, you haven't lost any money until you sell.

 

Now if that was a business strike with 70 grade you'd have hit a small lottery

 

The PCGS price guide is indeed way off. The prices are considerably inflated. When you add a coin to your registry set, you have the option to include the buy price in your information. You can then compare the "worth" of your collection to what you paid for it, and pat yourself on the back for what a savvy collector you are. Hey, my collection is "worth" ten grand, but I only paid five. Yay me, let's go buy another coin. Greasing the wheels of commerce.

I had a registry set of Kennedy Halves a while ago. I discontinued it because I discovered that date/mint sets didn't hold my interest numismatically. Curiously, checking my old serial numbers, I see that I once owned the OP coin. Small world, eh? At any rate, I think $61 is a very good price for that coin in PR70DCAM. Now, whether you collected a coin, or a slab, or both -- is another matter altogether.

 

Totally newbie here and clinging onto your every words,

'When you add a coin to your registry set' - Is this mean when I send a coin to a grading service ?

'you have the option to include the buy price in your information' - I decide whatever price I want ?

And what is an 'OP'?

I'm almost decided to send my first set of 4 coins to be graded but saw the form and got kinda intimidated. My house loan paper looked simpler than that. Should I take the plunge?

 

Both NGC and PCGS have a web app you can load cert numbers and pictures of your coins into. If I remember correctly NGC lets you use cert numbers from PCGS while PCGS only lets you use PCGS numbers. The companies have established different sets that collectors complete. By entering in your coins, they verify the cert number and assign points to your coin. I guess the goal is to complete a set and get the highest rank.

Seems like with PCGS you can enter the amount you actually paid for a coin and they'll bump that coin against their price list. This way you can see how much money you spent in relation to their price guide.

 

No, the set registry is an online database where you can catalog your coins. You can also browse other collections. Here's the link to the PCGS registry...

PCGS Set Registry

When you set up your own collection in the registry, PCGS will tell you their value for any coin you add. You also have the option of adding what you paid for it, for your own records keeping.

Original post - the first post of the thread.

It'll certainly tell you something about your grading skills compared to what PCGS thinks of your coin, good or bad.