The 2011 Silver Eagles graded early release PF69 by NGC are selling on eBay for for $74 with free shipping. How are these guys making a profit? The Mint charges everyone $59.95 for the Proof ASE, NGC charges $14 for their grading and slab, Plus shipping and eBay/ PayPal fees. How are these eBay sellers making any money selling these coins at these prices? I ordered one from a dealer with more than a thousand positive feedbacks, because their price was below what my cost would be. :rollling:
Plus, if a bulk submission is used, the cost is a few bucks cheaper. At least thats the way it is at PCGS. Bulk Submissions would be $10 per coin with possibly a discount for Authorized Dealers on the First Strike label.
And who says they are making a profit on these? As Leadfoot said if they got any 70's they made some money there, now they are just trying to get some of their capital back to use on other things. Even if they take a small lost it's better than having their capital tied up in an unproductive asset.
In my opinion the grade under the big price increase is the way to go. In most cases I have found that on the proof coins the diference in a 70 and 69 is so minute or hidden by the holder why go for the top grade on them unless you get lucky and a seller lists a PR70DCAM to end in the middle of the Super Bowl. Got one for less than half of list that way.
