Slabbed Coins

I just purchased 4 modern PCGS graded PR69DCAM coins on ebay four under $5.00 each and was wondering. Who is getting these graded? It would cost me $20+ per coin just for grading + the cost of the orginal coin? Who are the ones losing the money?

 

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coins on ebay

I have no idea I personally am trying to unload a collect left by my son's grandfather

 

Welcome to the forum Nickelman and Suzs. There are some dealers who submit thousands of modern coins to PCGS and get special bulk rates.

Charlie

 

People submitting in bulk hoping they win the PR70DCAM lottery.

BTW: Welcome! You might want to post Coin topics in the coin forums. They will get more exposure.

 

I moved this to Coin Chat that way your post will be seen by more...

Speedy

 

sounds like a great deal, what coins did you get?

 

Thats right many dealers are submitting coins to get luckey on a few like a crap shoot. They win if they get that MS-70 you win if it doesn't.

 

Not only is there the large discount for using the bulk grading service, many of these coins sell for large premiums early on and only go down in value after a few months. If you're one of the first to get the new years coins on eBay or in the coin mags, PF69s will frequently sell for $40-$60 and you can make your cost & profit back early on. After a few months as hundreds hit the market, you just dump the remaining coins at whatever you can get as you've already made your real money.

 

Thanks

Thanks to all for the replies. I had been wondering about this for a while and thought some (or a lot of) poor guy like me pay up all this cash and lost his shirt which I am sure this happens as well.
Thanks again!

 

I think the best thing you can do is learn the grade yourself (and if can now keep working on it....it can always use help) and make sure you buy the COIN and NOT the holder.

Speedy

 

Thanks Speedy,
I buy almost all of my coins raw becuase I like the looks of them, Never could figure ou tthe differance between say and MS66 and 67? or 64 and 65.
Bought some cheap slabbed jefferson nickels with various grades and It appears to me that the so called professional graders have just as hard a time as I due! One thing I did notice what the consider MS64 I don't want in my collection unless thats the best I could aford.

Thanks,
Brian

 

I agree....66/66/68/69/ and if you think there is such a thing 70 are hard to tell.
It takes time and LOTS of grading.....I have problems still with gold coins....I can't seem to grade them too well.
I guess its because the metal is sooo much softer and can take more bag marks then a...lets say a Morgan dollar.
So much to learn....soo little time.

Speedy