Is This Guy Nuts?!?! 2010-D Nickel, PCGS MS-68 Full Steps for $4,000?!?!

This guy on eBay is out of his mind:
http://cgi.ebay.com/2010-D-Jefferso...72?pt=Coins_US_Individual&hash=item2309cd425c
Who the heck would spend 4k on a 2010-D Nickel in MS-68FS?!?! It makes no sense at all to me!:crying:

 

Log in or Sign up to hide this ad.

It's just like a fishing lure, all it takes is one fish dumb enough to bite! Ha Ha

 

That's a perfect way to put it!

 

Well, if you assume there are alot of fools with alot of money.. and they don't mind parting with it, then maybe it makes sense. Other than that, it makes no logical sense. About half his auctions have ridiculous prices, the other half are priced reasonably (however, I say that with reservation. IMO, all modern coins are overpriced).

 

Anyone stupid enough to bid or " Buy Now" is exactly that.

 

4K Crazy I agree!
but what is really sad some new bee coin collector may buy it

 

i doubt anybody buys it for 4k, its probably just to get people to look at his other auctions. and look...its working. he got free advertising here!!

if one were to buy it for 4k, they deserve what they get. new or not, rich or poor, you don't blow that kinda money without researching.

 

To each their own! I don't care how high the grade is if the mintage rarity isn't there.

 

I simply can't imagine you making a statement advocating this non-sense . Another " Fantasy " coin IMHO .

 

Would it satisfy you if both Doug and I state that the price tag is not out of line? Jefferson Nickels are almost non existent in the MS68 grade. The only Jeffersons to achieve this lofty grade are SMS coins, modern Satins, and some war nickels. If you find a circulation strike that grades MS68, it will be worth well above $1K. Maybe the $4K price tag is too high, but it is not a ridiculous or "fantasy" price IMO.

I have the 5th ranked Jefferson Nickel NGC registry set and only own one MS68. Guess what, I paid almost $4K for it.

 

Hmmm, nope, still seems crazy, especially given the pop numbers mean absolutely nothing at this time because we're only halfway through 2010 and they're still being minted. Besides, I don't think, and never will think, registry fever buying should have any effect on market value as we all know a coin normally worth 10 cents can sell for 10K because someone just had to have it at any cost. I figure all my prices at more realistic levels based on pre-registry prices, as it should be.
Guy

 

You know what the problem is with high grade, high mintages coins? 99.9999999999% of us don't need them to fill a hole - there are billions of them that will do the job just fine. When the few that are willing to pay crazy prices for high grade, high mintage coins have theirs', the bubble will burst - just like every other pyramid scheme that has plagued this hobby.

Yeah, I can't believe Doug is buying into this - he must have started cherrypicking these grades and selling them.

 

Agreed! And, I'd have to say the pop reports for high grade, high mintage coins mean nothing, as few are searching for them, much less willing to pay to have them graded. Some look at the pop reports as if they've identified every high grade example that exists, which is far from reality.

 

Well, we may not agree the price is right or wrong, but Doug and Paul have a point, as these coins have sold for these prices. What I'm saying is, outside of registry collectors, these prices are far from realistic. There is no set price for this kind of collecting as people will bid seemingly worthless coins to most collectors into the realm of absurdity to own a piece graded a point higher than a competitor's coin. It's a completely separate market than the one most of us shop in.
Guy

 

We all know he's crazy. Let's move on. If we flooded this forum with threads like this it would be endless!

 

True, there are short term opportunities selling these grades. But, can't believe the small number of registry buyers will support that market for the long term - kind of a mini pyramid scheme.

 

Okay,

You guys are not listening. Jefferson Nickels are extremely rare in MS68. This includes the modern dates. If you don't believe me, take a look at the populations of Jefferson Nickels in MS67 FS for modern dates. Here is an example:

1993-D Jefferson Nickel PCGS MS67 FS auction archive

The population of this date/mm is 13/0 out of a total of 400 graded examples. That means that roughly 3% of all submitted examples will achieve the top pop grade of MS67. I actually agree with the argument that there are so many available raw coins that the prices of these coins are inflated. This coin sold for almost $400. But there have only been 400 examples graded to date. At the 3% top pop rate, that 13/0 number will eventually climb into the hundreds or thousands making this date/mm in MS67 FS a $50-$100 coin. However, that rationale does not apply to the MS68 grade. They are so rare that whenever you find one, it will always drive a huge price because of the conditional rarity. You guys don't need to like it, agree with it, or condone it, but you would be wise to accept it.

 

Well, all I know is 2 NGC graded 2010-D satins sold on eBay. 1 BIN for $49 and one auction for $27. I know they are satins, but would a 68 in business strike be that much more rare?

 

Serious question....are they that rare because they're just made so shoddy at the mint, or, are they that rare because they're common coins and nobody submits them to tpg's enough for them to be more common in those grades? I have to believe the latter myself.
Guy