Ya know, I'm noticing a number of $2.5 Indians in the old style ANACS holders all of a sudden. They're popping up on Heritage and Teletrade quite a bit; AU58 - MS61. Is it just me ? ... or did someone liquidate an old stash ? Any ideas ?
I Think your guess of "liquidating an old stash is probably a good one." I've collected them for years; the market is kinda thin for them.(not a lot of collectors, or coins.Also note the overwhelming response you got.) So they haven't been subject to a lot of promotion, so no real need to upgrade any slabs. I see a few in slabs,but probably more unslabbed.
And for ANY coin in general (which means there are lots of exceptions) certain grades are unpopular. Several sources have opined that people would rather have a AU-55 or -58 than something in the MS-60 to -62 range. Coins in the low MS- range have too many distracting problems which is why they are in the low MS- range. So something like that is prime for replacement (meaning possibly dumping.)
Define "old holder". Many people call any of the small size holders "old holders" Well that size holder was used for 16 years (In six or seven variations). The new larger holder has only been in use for about a year and a half. (In four variations). So if a quarter eagle shows up in an ANACS holder, statistically it is more likely to be in an "old holder".
He didn't say it would have more value, he said that some people would prefer a nice 58 to some MS-62's. I happen to agree. I've seen some choice 58's that look better than a 63, and definiely better than a low end 62.
Agreed. He didn't say it would have more value; they never do. A MS coin will always have a higher greysheet price than an AU coin. But, as Condor pointed out - often, a really good AU has superior eye appeal. Buy the coin, not the number ! even if accurately graded. With these Indian $2.5 and $5s, there's a wide swing in eye appeal in a given grade. It pays to be choosy. I ignore 90% of what I see in these.
Some MS coins may have a higher Grey Sheet bid, but it is not uncommon for choice AU58's to sell for more than the low end MS would.
Like I said, I collect these and have put together a nice set of XF-AU coins which were cheaper and better looking(and problem free) than most BU coins I've looked at.
