PCGS PR69DCAM Silver - $6.80 Delivered

I bought this coin from eBay for $6.80 delivered. How can this be possible?
I thought it cost like $20 just to get a coin graded. What am I missing here?

 

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Some dealers send in bulk submissions hoping that the proofs get PR70. If they don' get graded 70, the dealers will often sell them off to recoup some of the money.

 

So would you say this was a good buy as an INVESTMENT?

 

Never use the "I" word in connection with coins

 

There are exceptions, of course.

And @dallas101, the desire for a 2009 PR69 Proof dime is almost nil. For a few bucks more, you can have the entire proof set. So, not exactly an investment unless a $2 profit is considered one.

 

No that would be a bad investment

 

I've bought a few PR69 silver america the beautiful quarters for $7 shipped.. I'd say that is a better deal than a $7 dime..

 

This happens all the time you will see slabbed coins all over ebay for below $14.00 dollars so they are losing money on it but sometimes you have take a shot to make a good find !!

 

There's very few good modern investments especially for anything made for collectors in the millions . Though some very limited mintage ASEs were good short term and maybe a long term investment . Though I never think investment with any coins I buy as I don't sell . Think of the collection and the joy you get from learning about them . Also it's one of the few hobbies where you will have something left after you've enjoyed them .

 

No. I do not think this was a good investment, but the downside is obviously incredibly small.

Modern coins often go in under the bulk grading tier where the submitter pays a greatly reduced fee to send in a relatively large number of identical or nearly identical coins. Additionally, those coins that might not receive the minimum grade as requested by the submitter, typically a grade of 70 for modern submissions, end up costing the submitter less money to have graded. These 69 and lower graded coins are the "failures" and sold off at a loss per individual coin.

By the way, it looks like this coin has schmutz at 9:00 on the obverse.

 

I assumed since it is slabbed and graded as pr69 it should be very clean. Haven't got it delivered yet.

 

So a coin can get a schmutz AFTER it's been slabbed? ........newbie here

 

If the schmutz is on the coin it could be a case of a partial fingerprint with other gunk that was not readily visible when graded, but that really "pops" when imaging with a scanner, as this coin has been imaged.

 

You paid a fair price... But this coin is not going to be the cornerstone of your retirement portfolio.

 

Would buying an ASEs at around $20 a coin considered to be a building a good collection with positive returns? There seem to be ton of those out there.

 

Of course not, I was trying to model or research an economical angle..

 

This is why I dislike modern grades coins. Look at the pcgs population of this dime



It is all 69 and 70. Modern coins are almost always 69 or 70. According to this population about 1 in 4 coins found in modern sets will 70. And no i don't believe people are more talented so that is why there only 69 and 70's. Just because someone spent money to slab a coin doesn't make the coin worth more

 

Economical angle, investment, positive returns? Wrong hobby for that if you are buying modern silver PR Roosies. (no offense to Roosies, or Roosie collectors).