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<p>[QUOTE=&quot;bgarg, post: 190226, member: 1876&quot;]Well, I disagree with the above statement in context of Silver Proof State Quarters. The ratio may be true for other US coins, but for Silver Proof State Quarters, my personal experience tells me a different story. </p><p><br /></p><p>So; here lives a small time dealer who works for a big numismatic firm. On a weekly basis, this dealer receives couple of hundreds of those silver proof sets from his firm and his job is to break those sets and prepare them for sending to PCGS for grading.&nbsp; Now, while opening those sets, this person realizes that many of them doesn&#039;t qualify for even 68-69 grade. So, he puts them in 2X2 flips and sells them via a bid-board on a local coin shop for $2 each (just for melt). In last one year, I have purchased more then 500 silver proof state quarters on this bid-board. (Except the one dated 1999 which he sells for somewhere between $20-$30) </p><p><br /></p><p>Now this big numismatic firm only cares for PF70 coins and sells remaining PF69 and PF68 coins to the same&nbsp; dealer for $8 a piece. And this dealer list those &quot;under graded&quot; coins for $12 on same bid-board.</p><p><br /></p><p>So, couple of weeks back when I asked&nbsp; this dealer as how many PF70 DCAM coins they receive back. His answer was &quot;sometime 4-5 per 100 submitted, and sometime none. But then the firm owner makes a call to his connections in PCGS and magically in next week&#039;s submission, the count of PF70 graded coins is increased to makeup for previous week&#039;s loss.&quot;.</p><p><br /></p><p>So, it&#039;s clear that they make money on PF70 graded coins and don&#039;t care for the rest.&nbsp; And the people who are buying these PF70 coins are paying for their coins as well as for rest of the collectors too.</p><p><br /></p><p>Well, I am happy with my un-graded state quarters and they look nice in this Dansco album.</p><p><br /></p><p>Regards</p><p>Ballabh Garg[/QUOTE]</p><p><br /></p>

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