Modern Commemorative Price Difference

Discussion in 'US Coins Forum' started by cat1026, Feb 15, 2006.

  1. cat1026

    cat1026 Member

    Can anyone please explain to me why a the 1982 Washington 50 cent commemorative Graded by PCGS in proof 70 DC has a list price of around $800 and if the PCGS label is signed by the director of the mint at the time (Donna Pope) the list price drops to around $225? Both coins are graded Proof 70 DC by PCGS. Any help would be appreciated.
     
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  3. Troodon

    Troodon Coin Collector

    Can only assume a difference in demand. But why one would be more in demand than the other I oculdn't hazard a guess.
     
  4. Mikjo0

    Mikjo0 Numismatist

    What puzzles me is how a coin that typically sells for $10-12 in proof or unc can be worth $800 in PF70.There were so many made that it's hard to believe the population of 70's could be THAT low.Has anyone looked it up?
     

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  5. Speedy

    Speedy Researching Coins Supporter

    The 1982 Washington Comm's are harder to find in the higher grades than many think.....I sent on to ANACS just because I needed 1 more coin to get the lower price...and it came back PF68HEVYCAMEO....and I was told that it was a "heck of a grade for that coin" ;)
    I think (but am not sure) that the mint was also trying a wash on the planchets back then like they did in 2000 as I find some of these 1982 Comm's with the same kind of haze that the 2000 PF Coins have.

    Speedyd
     
  6. Speedy

    Speedy Researching Coins Supporter

    BTW--NGC has graded a total of 162 PF70UCAMEO...same as DCAMEO....and PCGS has graded a total of 32 PF70DCAM....so the total is 194 for both Co's....


    Speedy
     
  7. GDJMSP

    GDJMSP Numismatist Moderator


    What "list" is it that you're referring to ? That may itself be the reason.
     
  8. cat1026

    cat1026 Member

    The "list" I'm going by is at the PCGS web site. Their price list under modern commemorative proof coins has the Washington S half in proof 70 DC. Their price for proof 70DC is around $800. Then a price of about $225 is listed for the coin in proof 70 DC that has the PCGS label in the slab itself signed by the mint director at the time Donna Pope. I have always assumed that a coin that is given a grade of proof 70 by PCGS is Proof 70 no matter what. The problem I have is that it is PCGS' price list. They are telling you that there is a difference in the coins yet they gave the coins the same grade. What is going on? Thanks for any help in explaining this difference to me.
     
  9. PSU Alum

    PSU Alum New Member

    I would guess typo. Maybe it should be $1225. Obviously 225 is too low. Why don't you e-mail them?
     
  10. Speedy

    Speedy Researching Coins Supporter

    Too low???...I think its too high....
    PCGS's guide isn't the best guide to go by....the best one is ended online auctions...on places like Ebay/Heritage and such.

    I would disgree....I'm one of the few that doesn't think there are such a thing as a coin that has no flaws....on some days you might send in a coin and get a PF69...then send it in again and the grader say oh...I'll give that at 70.
    Grading isn't cut and dried...it is subject to many many things.

    Speedy
     
  11. PSU Alum

    PSU Alum New Member

    Yes the PCGS guide is to high. Thanks. Relative to the $800 price for the unsigned coin the signed coin is too low. That's what I meant. Can you get 800 or 1200 for that coin in the real world. Probably not.
     
  12. Speedy

    Speedy Researching Coins Supporter

    I think $800 might be too high....I'm trying to find an auction that has ended with one of these in PCGS or NGC PF70DCAM but can't find one....that would tell us what the real price is....
    So far I've searched Heritage and Ebay but can't find one...if I do I'll post a link here....one thing I do know is that you can buy alot of the PF69DCAM PCGS ones with Pope's name on it for about $30

    Speedy
     
  13. Speedy

    Speedy Researching Coins Supporter

  14. PSU Alum

    PSU Alum New Member

    The original posters question wasn't why the coin was so expensive in the PCGS price guide per se, but why it was so expensive relative to one that was, in theory, rarer. My suggestion was that PCGS made a typo on their web page and instead of 1225, they input 225.

    Speedy, the coin you posted is listed at 875. I think the slab signed by the mint director would command a premium - Not a 75% markdown compared to the unsigned one. The PR69 signed slab is about $60, compared to $25 for the unsigned slab (in PCGS world)

    As far as the realities of the actual prices in the real world - that's another issue.
     
  15. PSU Alum

    PSU Alum New Member

  16. Speedy

    Speedy Researching Coins Supporter

    That shows that the price guide is too high then....if the coin only sells for around $122 that shows that the market for that coin would be around that value....I can see maybe $150 but $875 is way too hyped.

    I don't see why....are we buying a coin or a name?....some people might be willing to pay a tad bit more....
    I think on Ebay I saw PF69DCAM going for about $30...also showing how PCGS's guide isn't the best to go by.

    Speedy
     
  17. Speedy

    Speedy Researching Coins Supporter

    I did some more searching and looking and found that Heritage lists this type of coin under 2 topics...so I see that they have sold 6 of these....here are their prices that they sold for...
    PCGS PF70DCAM
    $373.75
    $207.00
    $373.75
    $1065.75

    NGC PF70UCAM
    $102.35
    $111.55
    and then the one listed above for $122

    The average is $336 I think.....

    Speedy
     
  18. GDJMSP

    GDJMSP Numismatist Moderator

    When signature slabs first came out they were a hot item, people were buying them up at substantial premiums. But it didn't last too long. Pretty soon it was downright hard to sell them - even at cut rate prices. I can't say for sure of course, but it was almost like people would rather NOT have the coin if it was in a signature slab. That is the only reason I can think of for the disparity.
     
  19. cat1026

    cat1026 Member

    GDJMSP,
    That is all I could come up with also. So if the signed slab is sold for far less than an unsiged slab, why not buy the signed slab if the coin is the same grade, in this case Proof 70 DC. You are buying the coin not the slab. Would PCGS say there is a difference between the two coins, I don't think so. Thanks again for your thoughts on the subject.
     
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