Modern Day Slabbed High Grades/Spec. Designations

There was a time when 1950 D Nickels brought $50 a coin. Today wholesale on these coins is about $12-$15 a coin and they are readily available. There was a time when 1964 proof sets were bringing $40-$50 a set in the late 60's.... $15 today. Why?? Because people thought they were rare... BU Morgan silver dollars in the 80's.. I'm sure Doug could name some more...

I'm not usually this doom and gloom... Like I said before... if you like it collect it. If you sat a silver eagle in an MS69 and an MS70 holder in front of me and covered up the grades and told me to pick the 70... I couldn't do it. I have been handling these coins every day for years. That should say something.

 

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I've always been skeptical on what seperates a 69 from a 70. I have a hard time thinking that when a tremendous amount come into a TPG company at one time they can't help but be aware it is from one one of their big yearly customers. Of course a handful or two are also given out to the little guy. I may be completely wrong on this, but maybe someone here actually is more aware of what really transpires.

I've been sort of watching 1998 ASE MS and PF 70s for a short time on ebay. Both are bringing several hundred with the proof of course being the highest. ASE MS 70 1999 I see for close to or a little over for double the price. I am going by if someone bought them already slabbed close to or shortly after their arrival on ebay.

If someone bought say 2 to 3 of each eagle (gold and silver) in MS and PF as well as 2 to 3 buffalos in MS and PF 70 I think they may do quite well. I just don't see much of a downside potential. I'm not suggesting anyone do this unless they already do. I may try it next year and report back on my profit or loss. I don't think in grade of 69 it would be worth it, would have to do in the 70 grade. But I still don't see the bottom dropping out of these unless the entire market takes a big downward trend.

 

Remember, I am speaking of MS/PR70 GRADED coins by the top TPG's. If you are taking about a coin or set that wasn't graded at 70, you cannot properly compare it to todays coins that are. In this case the series may have lost value. If you had that coin or set graded as 70, it may have held it's value, or a much larger share of it.

 

Long time reader, first time poster.

I was at a midsized coin show last weekend and was looking for some modern proof coins to evaluate. I was not interesting in buying any because I am currently putting together a type set (Dansco 7070). However, I wanted to see if I could tell the difference between a PR69 and PR70 coin. There were very few modern proofs available. No dealer specialized in them and I didn’t find any dealer that the same coin in both grades.

I thought that was somewhat odd because ebay has thousands of modern proofs available at all times.

I spent some time researching the modern coin market today on the web and came up empty handed again. All I found was a few articles telling coin collectors to avoid them because they are just another bubble waiting to burst. From the information I did find, it appears that there are many dealers selling these coins but very few dealers will buy from the public at any price level.

Maybe a dealer can chime in and confirm that coin dealers are willing to buy these coins at some wholesale level.

Like I said, I’m building a type set now, but I’m thinking about putting together a modern commemorative set next. I like the coins and their mintages are relatively small.

 

FLintHills...a modern commem set would be cool. They are real coins and all

LostDutchman is a coin dealer btw.

 

Duke,
I like them. Right now, I am concentrating on my type set. Maybe in a year or so I will take the plunge.

Coin Lover,

Sounds like you have turned bullish.

 

Yeah I guess I am a little bullish right now. Just have to wait and see since I want to finish my obsolete set first.

There is some guy that has a set of commemorative dollars from 2000 to 2009 for sale on ebay all NGC 70s. I don't remember the price, but I thought it was high. You might want to check it out, and if you have been looking at these you might know how the price is, too high or about right.

 

There are lots of reasons that moderns simply aren't comparable to pre-'65 or pre-1950 issues. The older coins are very unlikely to see large changes in supply and demand. Sure there are exceptions in some of the high grades that never got much attention before but these are maturing markets now. People have been chasing things like full step nickels and gem silver quarters for nearly a quarter decade now so there aren't a lot of big surprises in these areas any longer.

Moderns still tend to be terra incognita. Demand for most still tends to be very low or spotty at best. New issues get a lot of attention but it seems to fizzle out in a few years.

I have some doubts about the sustainability of many prices and I've sat back and watched them crash in the past but not all of them. I never imagined Morgans for instance could keep such a grip on the market. While the prices of commoner pieces crashed in '90 and never recovered the scarcer coins just keep plowing on ahead.

There's no accounting for taste. To each his own. In the long run it's usually rarity in one form or another that wins out but that doesn't mean rare trade tokens might be the next area to explode.

 

Most dealers and collectors still slam moderns. It's a lot less blatant than a few years back but they don't have any interest and they tend to ignore them. They will not make viable offers on them. Indeed, many dealers still tell sellers to just spend things like BU clad quarter rolls because they just don't know these can be wqorth up to $1000.

Things have been changing the last few years and dealers are not nearly so naive as they were. They at least glance at the moderns they buy and will try to sell some of these.

But you still can't expect the dealer down the street to make a viable offer on most moderns and this goes a few times over for things like MS-70 eagles. This is why most of these are bought and sold on the net. There are specialists in these coins and they do buy and sell but they have mostly a web presense.

 

Being new in the coin collecting market, I can honestly say that I would like to have the highest grade that I can possiblu afford and attain on any certain coin. I am not big on the modern stuff but reading about putting a set together of high level lincolns is what I want to do and eventually will. This was a very interesting post and I look forward to reading more

 

I might the only one that really believe in the ASE MS70. Is is almost imposible to collect the full set of MS70's. There are so many people collecting these that the value will keep going up. My guess is that the craze will die down after the last year. There will be a huge buzz when that happens and then in 5 years, it will collapse. While the US Mint keeps making these, the collectors will keep collecting. That is just the nature of collectors. In the back of every collectors mind is that they want to hit the homerun. Collect something at a small price and then have someone like me pay $5252 for a coin. Just a month ago, I personally paid the most for a modern day coin of $6600. How nice would it have been if any of you guys bought that coin(1999 MS70) in 1999 for $17 graded it and paid an extra $20 and then sell it today for $6600. That is core idea of collecting in my opinion.

 

You can choose one coin. Both coins are the same, one is a 69 the other a 70.

The 70 has grown some spots or toned badly.
The 69 looks like its brand new, just one small planchet mark that you have to use a magnifying glass to see.

Which one goes home with you ????


Chief
Seller of 70s, Keepin' a 69.............:eat:

 

LOL ! I still gotta laugh when I hear of people spending stupid amounts of money on high grade "first strike" bullion. First, there are so many millions made it'll never be worth anything more than the silver content, no matter how seemingly popular it is. And second, as we've discussed for years, as have coin publications, there is no way either the Mint or the TPG's can determine what coins were actually "struck first", so any premium there is a fantasy printed on a slab. Comic relief at it's finest LOL
Guy~

 

1 & 2 for me. Its either TPG, government boxes, or raw (and then I'll pay raw prices). Even knowing the difference between some grades (and studying the ANA book ), its still hard (and too soon for me) to decide whether a coin is AU 58 or MS 63, as well as different MS grades, and the difference is too big to be making a mistake. A slab (like a box) also protects my coin from banging, etc better than an album or a 2x2.

That being said, I only have one TPG graded coin (may change soon). Most of what I have bought are modern comms., which is less of a grading issue if in original packaging.

 

$5,000 for an ms70 ASE? I would honestly rather have 77 bust halves in fine condition at $65 each. I bet my kids would be much happier when they went to sell them too.

Lack

 

But, it seems at least for 12 to 24 months after release they do quite well in the 70 grade. It seems as though the Buffalo Commemerative did peak a couple of years ago or so. Like I said peaked, but appears to have held the peak value or close to it.

 

Who cares if the bullion is MS70, An OZ of gold is what it is period!!

 

I have spent most of my 55 collecting years working on older issues and been very satisfied. I did change some of my opinions when the TPG's came into play and the top ones - PCGS & NGC - began to recieve compliments and accolades from professional numismatists that I had respected for years.
I finally broke down a few years ago and began assembling a PCGS certed PF70 ASE collection. It still has 4 holes and I'll finish it someday. But to the point, I have been monitoring prices and populations for some time now and find - in this one area of modern - that the market has been quite stable and prices show consistant increase.
As I type this I'm watching todays(Sun. 3/14) Teletrade auction with special attention to ASE's. Anyone reading this today should take a few minutes to look - it might surprise you.
I can't close without saying "why collect these" Perfect proof ASE's are the 2nd most beautiful and impressive coin in USA coinage - in my humble opinion and that's the stone cold truth!

 

If coins are worth only the metal contents, that includes old coins. You can't make a logical argument if you start out with a false statement. Coins are only worth what someone else is willing to pay for them. It doesn't matter if it is old or new. It is all about what people perceive the coin's worth. Old or not, collectors like myself are out there in the millions. I am not the only person paying your perception of STUPID MONEY. Tell me why it is stupid when I spend $6600 on a coin when I see it selling for more that $17k at H.A. today. Take out the collecting aspect of it and look at it from a business side of it and making more than $10k on your investment seems like SMART MONEY to me. Last year sold the same coin sold for almost $30k.... Again SMART MONEY. Like the 1st issue Batman comics. Just sold for more than a $1,000,000. They buyer didn't pay for the paper content. There is always something more than the material content that raises the value. It's perception. Perception is reality when someone spends the money on it.