An Interesting Take on MS-70 graded Moderns

I found this article to be an interesting viewpoint on the MS-70 graded coin game: https://coinweek.com/modern-coins/modern-coins-are-ms-70-coins-value-traps/

For the most part, the observations here are what many people on this site have repeated, but there was one paragraph in particular that caught my eye:

 

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My only surprise is that it took this long.

 

I must agree

 

Only once did I seek to buy a modern MS70. I asked if they had the OGP available. I LITERALLY was going to crack the coin out and put it back in the OGP. They said "no". I walked.

On a similar subject, anyone have any Black Revolutionary War Patriots OGP available? No coin needed. I already have that.

 

Funny thing about MS-68/69/70 modern business-strike coins is that they are almost worthless outside of their holders. There is no way that they can support their value on their own.

 

Good article. Thanks for sharing!

 

Not sure I understand. Do you mean real circulating business strikes, or non-proof commemorative coins. Because if it’s the former, I agree. But if it’s the latter, I have to dissent. The “BU” Commemoratives frequently outperform the proofs.

 

The former

 

Without any specific dates or denominations, a perusal of NGC census will show many modern coin years where Proof 70 outnumbers all lower grades.

I don't agree with only classic coins belong in plastic. As a collector I like collecting silver proof sets each year from the mint. But, I also like collecting modern Roosevelt silver proof dimes. I want them blast white and mint fresh. And I want them to stay that way. So I do prefer that part of my collection in graded plastic. Opposed, to buying a raw proof and putting it in an album or airtites.

There is one other reason why I would buy modern proofs in slabbed format over OGP. I will only buy modern proof sets in OGP from the U.S. Mint. Every proof or proof type set in OGP, except two, that I bought on the aftermarket has been vandalized. As in someone has gone through the set and cherrypicked it first. In one set I bought, one of the coins had a big old thumb print. I wouldn't even touch a silver proof set in OGP on the aftermarket. For folks like myself, that got into the game late, buying older proof sets from the mint is not an option. Nor is it viable to buy secondhand OGP in my experiences.

 

I've said it from the beginning...........folks that crack out all of the mint packaged coins, searching for '70's, will rue the day. The mint packaged items will be the indeed rarity. And I really feel sorry for folks who have to 'split' hairs on moderns.......pathetic gesture.

 

It’s not only stripped out sets. I’ve noted plenty of complaints about quality issues. If I buy the OGP straight from the Mint and it’s screwed up, I can send it straight back. Not so with an aftermarket OGP.

 

That's why we learn to grade with regards to the 'after-market'.........

 

You may think the slabbed moderns are bad in high grades, but they will not always be such a glut on the market and 'valueless'. Think 100 years in the future. 100 years from now, things and events will have transpired to make many of those disappear. Most will not have problems with being a precious metal, so won't be subject to melt, but fires and floods will destroy some and others will be ransacked for their cash value if they don't sell or by thieves more interested in getting what little they can rather than passing it up. How many, barring those who are either having them in safe deposit boxes because they are part of their registry set, will survive and of the ones kept raw, how many can reasonably be expected to survive and be graded so high twenty or forty years from now? We don't highly value them, but most back in the 30s and 40s did not value things enough to take a chance and even sock away a pristine nickel, dime, quarter, or half dollar and guard it carefully to pass it down to their heirs on the chance it would, in 50-75-100 years be valuable because of condition. I don't see human nature changing. I like my high grade moderns and though I will ruthlessly cull the ones I don't feel are worthy for me to keep, mainly because I don't like keeping that many coins, keeping some and targeting them for my kids or my kids kids in 40 plus years could turn out to be great. Just think, if my dad, when I was born, had taken a couple dollars and gotten a 1955 Double Die cent and put it in an envelope with his will and other papers and maybe another coin or two (like a 1928 Peace Dollar). And then later it could be found. So,put a couple in your safe deposit box with your papers and who knows what might happen? Look back on just about any glut thing and see how many disappear because of varying factors.

 

Here is a counterpoint article, in favor of MS-70 coins. I find this debate to be interesting, although I'd never pay the premium for a 70 coin: https://coinweek.com/modern-coins/a-perfect-score-coins-graded-mint-state-70/

 

Thanks for posting that.

 

There may not even be coins in 100 years. And while old coins will retain value, the hobby will be dead to new collectors, and it will just be another forgotten thing locked up in a dusty mausoleum of antiquity.

 

That’s scary! Don’t even say that!!!!

 

I’m not exactly worried about 100 years from now.

 

John Maynard Keynes said: In the long run, we are all dead.

 

Good point. Lol.