Can't Believe Premiums For 70 Coins vs. 69 Coins

Discussion in 'Coin Chat' started by GoldFinger1969, Nov 22, 2020.

  1. GoldFinger1969

    GoldFinger1969 Well-Known Member

    New coins and commemoratives....I can't believe how much more the premiums people are willing to pay for a 70 coin vs. a 69.

    For instance, I am looking at the National Park Saint-Gaudens Commemorative (Mercanti) can buy right now a PF69 for $95. But PF70's are being bid above $150 as I type this. I can't tell the difference....but it's an extra 30-35% (maybe more !) just for the 70.

    Maybe it's because they aren't going to be buying many of these like stacked silver or golds so they want at least 1 coin that is "perfect."

    Have any of you actively looking at moderns (coins or commemoratives) or dealers who sell this stuff noticed this phenomenon ? Is it new ? Or has the extent of the 70 Premium always been there ?
    Inspector43 likes this.
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  3. WLH22

    WLH22 Well-Known Member

    It is not new. Any 70 has always brought a far higher amount more than a 69. That is PR or MS. It is why bulk submissions are sent in by the big boys. They just need some 70's to make it worth it.
  4. WLH22

    WLH22 Well-Known Member

    I will say after taking a quick look at APMEX, the premiums have come down. They seem to have very little in stock. The premium looks to be around 15-20% on some items.
    GoldFinger1969 and Inspector43 like this.
  5. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    I won’t go there. Typically this is bullion stuff and I just have a hard time seeing bullion being worthy of that kind of premium.... To me anyway... I fully acknowledge that coin collecting is different for everyone. I just have to wonder how many folks paying these premiums can look at a 69 and a 70 and be able to tell the difference.... I will add this caveat though. I do own a 1999 gold Washington Bicentennial that is a 69 that I bought as a bullion purchase. I have come to love looking at the perfection in that piece since owning it.
  6. messydesk

    messydesk Well-Known Member

    I wouldn't say a far higher amount, and the premium has been going down as more coins grade out at 70. The bulk submitters need some optimal percentage of the coins to grade 70 to make it worthwhile, and they need to be able to sell special labels for premiums to cover their costs. Without 70 being a scarce enough grade, the cost of grading isn't even worth it to them.
    GoldFinger1969 and Inspector43 like this.
  7. WLH22

    WLH22 Well-Known Member

    I did update the post to say about 15-20% now but it will be interesting to see what the premium is comparing 69 and 70 V75 Gold and Silver.
    GoldFinger1969 and Inspector43 like this.
  8. Inspector43

    Inspector43 72 Year Collector

    I look only for the best eye appeal in circulation coins. Like the example below. More than satisfies me.
    201121200711090.jpg 201121200614774.jpg
  9. GoldFinger1969

    GoldFinger1969 Well-Known Member

    What specific coins, curious ?
  10. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Is that for "hot" issues like the 2019-S Enhanced ASE and the new V75 Gold/Silver ?

    What about for non-hot items like those National Park Saint-Gaudens commemoratives (I like them) or Wedge-Tailed Eagles 1 or 5 ounce coins ? Private issue seems to always be less "hot" than U.S. Mint stuff....even if the former has low mintage numbers.

    I can see for an already hot item why a 70 will sell for a ton over a 69 (I see it for the Apollo 11's and other 5-ouncers).
    Inspector43 likes this.
  11. ddddd

    ddddd Member

    There has always been a premium for 70s over 69s but the popularity of the item as well as the proportion of 69s to 70s determines how large the spread will be.

    One of my favorite series to collect, the Austria Silver Niobium coins, are an example where the spreads can be more modest (for the last few releases). Part of the reason is that many grade 70 and some years have more 70s than 69s. Another reason is that while the series is popular (especially in Europe), graded examples aren't as popular. There are some that look for 70s but nowhere near as many as would for something like a silver eagle or a panda.

    Interestingly enough back in 2015, I even picked up several 70s from MCM for around $25 over issue price from the mint. I'm not sure how that happened as the following year MCM had the 2016 70s for about $150 over issue price (demand increased somewhat but not that much and they certainly underpriced the 2015s-which I did not mind). In general, the 2015-2020 coins might have a $25-$50 spread between a 69 and 70.
    WLH22 and GoldFinger1969 like this.
  12. WLH22

    WLH22 Well-Known Member

    Looked like current ASE's (if they even had any in stock) were about 15% higher ($36 for 69 and $46 for a 70). If you go back to the earlier ASE's then you see $75 for a 69 and $100 for a 70. It is hard to match years though with a lack of supply. I did not realize the ASE's were going so fast. Makes me wonder if it is getting to be time to get rid of my stash.
    GoldFinger1969 likes this.
  13. WLH22

    WLH22 Well-Known Member

    I tried looking up AGE's and Buffalos. Almost no supply. There was a time you could pick every year. People must be sitting on these.
    GoldFinger1969 likes this.
  14. GoldFinger1969

    GoldFinger1969 Well-Known Member

    My LCS has bought a few coins from me...he needs the inventory (doesn't go to coin shows even pre-Virus).

    Sometimes he doesn't have ANYTHING in Buffalos, Eagles, Pandas, etc. Other times, he has a few dozen.
    WLH22 likes this.
  15. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Somewhat seems like the low-mintage U.S. Mint stuff (2019 Enhanced, V75) can sell at a huge premium in any grade but similar low-mintage stuff from private issuers (i.e., Saint-Gaudens commemorative) doesn't have the same cache.

    Is it strictly because the latter don't come from the U.S. Mint ? Is it an NCLT thing ?
  16. ddddd

    ddddd Member

    There is much less demand for the private issued items. And there is a bias against NCLT.
    GoldFinger1969 likes this.
  17. Derek2200

    Derek2200 Active Member

    It’s a function of pop and market demand. Have retailed many 70’s.
    GoldFinger1969 likes this.
  18. rte

    rte Well-Known Member

    The premium is the top pop factor of the 70.
    GoldFinger1969 likes this.
  19. baseball21

    baseball21 Well-Known Member

    The premium is from it being as good as it gets as the top grade.
    GoldFinger1969 likes this.
  20. techwriter

    techwriter Supporter! Supporter

    @GoldFinger1969 , you've really answered your own question when you say YOU can't distinguish between 69 and 70. Save your money and buy the 69; then use what you "saved" and buy something else.
    GoldFinger1969 likes this.
  21. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Who is buying them...folks who want 1 of them, or folks who want a bunch ?

    Why do they pass on the 69's, in your opinion ?
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