Bought some coins at a show yesterday, but what I found interesting was what I did not buy. The dealer had some blue and brown Ikes (for which I have an affinity). I ended buying two of the blues at 7.50 each (they were not 71's) which was fair at 1.15 over melt with the envelopes & COA's. The browns were also not 71's so I was interested, until the dealer took them out. They were certified by NGC (OK, Good), but he told me he would have to add the cost of certifying the coins to their price, which would bring them over 20$ each, at which point I was not interested. So I guess my question is as follows: It is common industry practice to mark up for certification costs? I have a few other certified coins (mostly peace dollars) and have never paid an additional "mark up" for the coins being certified. Thank you for your responses.
sounds to me like the dealer doesn't know how to grade that well and was gambling that they might come back at a high enough grade to be worth the grading. I don't believe in paying for his gambling debt. the coin is worth what the coin is worth not what it cost to grade it. just my opinion Richard
At what point is it worth grading a proof IKE? Even the "Deep Cameo" Proofs are only 30-40$ on Numismedia. Is there a market for it?
That's a new one on me, but since I'm usually buying certified Morgans, $100 and up, it was never an issue. Why don't you like the 71 Ikes? Just curious! Chris
I had them already. They also have a much larger mintage, and I would not pay as much over melt for them.
By "71's" do you mean 1971-S? The reason I ask is, according to my Red Book, the San Francisco Ikes are the only Ikes (other than the silver-clad Bicentennial Ike issued by the Philly Mint) that contain any silver.
I've picked up many a slabby and have not had to pay a premium just 'cause it's in a TPG'er holder. Put the price on the item, Don't tell me you gotta tack on "X" number o' dollars just 'cause it's been holdered. I, like you did, would walk away.......
Sure happens all the time on low value coins that are not worth the slabbing fees. If they were raw they would be four or five dollars, but they are slabbed, possibly higher grades but not high enough to command a large premium, often they will be priced at $8 to $10. Well more than raw but less than the grading fees. Simply because they are slabbed. But if he plans on adding the full slabbing fee to a coin that isn't really worth more then the raw price, he is going to own them for a long time unless he can find a sucker. He gambled, he lost. He either needs to take his lumps or he can eat them.
should told him to break them out and you would buy the coin and he could keep his holders,hahahahahahahaha
