Reply to Thread

Message:: [QUOTE="GDJMSP, post: 812492, member: 112"]OK look, there are a couple of different reasons it happens. 1 - like Duke said, dealers and sometimes even collectors, can get volume discounts on the grading fees if they submit 100 or more coins at a time. Fees can be as low as $10 per coin. So they screen the coins they will be submitting and submit only the best, all the while hoping that maybe just 1 or 2 coins will get that ultra high grade. If they are lucky and get that 1 or 2 coins in the high grade - then selling that 1 or 2 coins pays all of the fees for the others and still gives them a profit. 2 - collectors will often submit coins that they are just absolutely sure will grade MS68 or higher, or PF70 - again hoping for that big score. But when they get the coin back it's MS66 or PF69 - just another run of the mill coin that is only worth a few bucks. So what choice do they have but to sell it for what they can get and eat the loss on the grading fees. 3 - many collectors have no real idea what coins are actually worth. So they buy them at flea markets, pawn shops, dealershops, coin shows - whatever - and they pay way more than the coin is really worth because some fast talking salesman convinced them that they could make money by re-selling it. But when they go to sell it, they find out that the coin is only worth a few dollars. So again, they have no choice but to sell it and get what they can - and eat the loss. So yes - it is just a waste of time of money. People are stupid, they believe things that are not true. They buy into get rich quick schemes - only to find out that the only person getting rich is the person who sold them the coins. It's a scam, it's hype - and it happens a thousand times a day each and every day.[/QUOTE]

Create my FREE Account!

Log in or Sign up

Reply to Thread

Useful Searches