I was shocked while on ebay to see some of the modern commemorative dollars, 84 olympics and the 89 congress in ms70 bid up to well over $1,000. I noticed that those same coins slabbed in ms69 going for $30-$35. I understand the concept with the population reports and all, but this is going to end so badly for someone. I was curious if dealers and serious collectors think that this is a good thing in general. I know these people are buying of their own free will but it just doesn't seem like it will help the hobby in the long run. Doesn't some of the fault come with the marketing of the perception of rarity? If I were a dealer I personally would have a hard time selling one of these high priced moderns to a customer. I recently bought a slabbed Bust 50 designated improperly cleaned for $50. Call me crazy but i would rather have 20 of these than an MS slabbed modern commemorative for $1,000. Lack
This is why venues like Coin Vault continue to thrive, and it is also why I call these buyers bidiots. Chris
Everything is based on supply and demand, sometimes condition rarities are rare. I don't get it either. Paying huge money for a modern condition rarity seems foolish, but that is just my opinion.
Warning, unpopular opinion coming up: the average MS-70 coin is no better to the naked eye than the average MS-69. Coins are graded at TPGs by human beings, no coins produced for circulation have no imperfections, and even under a loup the difference between a MS-69 and a MS-70 coin is absolutely trivial. If you buy a modern coin in MS-70 you're paying for the slab, not the coin.
You have two types of collectors, some collect coins, others collect the plastic slabs that some coins come in.
I agree with all of the above. I never collected "grade".... I collect coins. Condition means little to me; I would much rather have a nice VG-FN example than "slabbed perfection". Never bought a slabbed coin and never will.
I like to think of MS 70 graded coins as the pyramid scheme of numismatics. You'll be alright if you can find someone else to pay these astronomical prices to buy your MS70 coin you just paid a fortune for. The problem is, much as in a pyramid scheme, you're bound to run out of buyers sooner or later. And someone will be left holding the bag.
Very true, and often if you were to take that MS-70 coin, crack it out and resubmit it in most cases it probably will NOT come back as a 70 again. So it was a $30 coin, they looked at it and said it was a $1000 coin, then they looked at it again and suddenly it is a $30 coin again. Exact same coin, so $970 of that $1000 value was the plastic not the coin. I collect coins.
You're less likely to be buying fakes with slabs. Third party authentication is a good idea. Third party grading - in my opinion, not so much.
That statement says it all! I have heard more than few dealers say when the moderns they submitted come back they resubmit the 69 with the next batch and almost always some of those come back as 70. Sad state of affairs to me just to make a profit. It is a bit of a crap shoot on the submitters part, but the grading services are really the ones benefitting the most. I assume they PCGS and NGC knows this practice and should realize that this if nothing else proves the inconsistency of their product.
Another point or question on the TPG's. If I were to choose a scarce, by pop report modern, such as the 84s olympic $1 and submit 100 coins that looked perfect to me. Would the graders be likely to grade them lower in a large lot knowing the scarci? Would they actually grade 50% of them as ms70 if that is what they deserved or would they be more likely to be drastically lower percentage? I guess no one really knows this answer but i justwanted opinions. Lack
ABSOLUTELY CORRECT! an HIGHWAY ROBBERY of ALL TIMES IN NUMISMATICS Specially on a MODERN COINAGE LIKE ASE etc....JUST BUY A COIN and Do not Let it ANYONE GRADE IT! We all Love the coins Not the PLASTIC by TPG....
At a coin show in 2025 in front of the awe struck faces of several YN's: "Back in the day we only had eleven MS grades and it took an entire tail to wag a dog instead a flea in the tail wagging the dog."