1958 Franklin Half Dollar PCGS MS67+ FB CAC sells for $110k at auction

Been some time since I was referenced as “ignorant”. Look, I make sizable business deals daily. They involve commercial construction and real estate....In the end a Franklin half is a common half ounce of silver. Who says that five years from now that people won’t shun full bell lines or TPG bells and whistles? Bear in mind that relatively speaking, the TPG’s are a still somewhat new and evolving commodity..... I don’t judge anyone for what they do with their money. Six figures for a common half ounce of silver is simply not how I’ll be spending mine.

 

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Ok last post from me on this subject cause I'm tired of this.
Food for thought.

I want everyone here to pretend they own this coin raw. You send it to PCGS. It comes back MS67+. Are you still complaining? Then you sell it. It sells for $100k. Are you complaining? Or are you cracking it out becuase you thought it's overgraded? Give me a break.

 

Setting an auction record is hardly exciting news to the majority of collectors. The true rarities can only be owned by a select few. These sales don't bring in many new collectors. All they see is that it takes a ton of money to own something like that (and that having a coin in one holder isn't good enough- that one has to upgrade it and get the blessing of several others before it's worth it's "true" price).

What most average collectors would like to see is more people collecting in general (anything from pocket change up to the rarities). They would like to see more people starting sets of Franklins, studying the history behind the coins, and sharing that passion with others.

The most disgusting parts of the hobby are the games being played (including the crack out and resubmit game). And when collectors rebel against that, the most vocal (and invested) parties come out and shove it back at the collectors by telling them they are wrong and that we should be happy this all is happening.

 

No they’re not. They’ve been around for over 30 years.

You just did with the statement that that coin is common in that condition.

 

What I'm doing about it is making the info public. Many collectors do read the forums and they should be presented with the full story.

 

Here's the CU link then so people can get actual first hand information.

https://forums.collectors.com/discu...r-legend-auction-tonight-currently-bid-105-00

 

I recently bought an MS 65 CAC coin and did a GTG. I did say it was more of a 64 and over graded by about 1 point. I sold it for what I thought a 64 CAC coin with that toning would go for.

If I owned that Franklin, I wouldn't be complaining about making the money. However, I would still question the grade (and consider myself extremely lucky in getting it). Considering how strongly I feel about this coin, I very well may have cracked it and sent it back again (or sent back to PCGS for them to review the grade in the holder and see if they felt the grade was accurate).

 

Yes that is where one can find the info from the firm that sold it, the people who had the chance to buy it, and the people who saw it in lower grade holders.

 

And the experts that had reviewed it as well as collectors who actually do play at that level and have done things like that before. That thread takes a much different turn after it has played out a bit than this one

 

I was curious as to why baseball21 was working so hard for the TPGs.
I had a private investigator do a background check.
Turns out he's a professional shill for PCGS.

Here is the only known photo of him on vacation after convincing a bunch of retirees to sink their life savings into PCGS slabbed coins:

 

Haha I’d never do hooka, I don’t get the point and think it’s gross

 

Hey!! Water bongs have been around longer than the TPG’s!

 

The very first time I tried it was on a college campus where a total stranger offered for me to try it. The flavor was 'Gummi Bear' and it was like having an explosion of Gummi Bears in my nasal passages - it was very bizarre.

I was 50 at the time.
I'm getting less cautious as I age.

 

That's your opinion and I am not gonna change it. Like I said there is no doubt in my mind that the coin is over graded. If you feel you need to abide by their evident practices, then so be it.

Since the beginning of grading company's and I'd imagine even before, folks have been wanting there coins to grade higher than they actually are. Now they have a chance to get what they want. Pcgs has made this easy. I have learned through the past few years to hold their opinions with a grain of salt. Cause they are gonna change them tomorrow.

I have zero interest in talking to the guy who pushed this market grading on the public. As far as those that buy into it they are only helping the process. It would no doubt be a futile conversation. Just like this thread, neither of us are gonna change our minds.

 

This thread reminds me of the worst call in MLB. No one is going to change another persons opinion.

 

I happen to think this thread is educational.

If you understand historical grading practices and market grading and how standards change you're in a good spot to put together a genuinely excellent collection regardless of current trends.

 

There is probably no house in the US the buyer could purchase for $110K that the buyer would even consider living in temporarily.

 

Maybe not in the major cities, but there are options for that range that people can live in comfortably. The median price is $175k in the US, so it is possible.

https://www.zillow.com/blog/homes-on-the-market-for-100000-158688/

Edit: that article is from 2014, but many of those houses are still valued below the median price.

 

Like I said some opinions have FAR more value than others.

Completely ignorant misinformation.

How much have you submitted to PCGS? Please show us how easy it was for you to get overgraded coins. You must have numerous examples from experience