Slabbing modern bullion coins?

im new to coin collecting but it seems like a scam, why would anyone pay $100+ for an "MS70" 2013 silver britannia when you can buy an ungraded one that;s just as perfect for like $30?

 

Log in or Sign up to hide this ad.

http://en.wikipedia.org/wiki/Greater_fool_theory

 

I'm with you colinf, it don't make any sense. Ungraded at $30 or a MS69 graded one if that is your preference for $36, both of which are very nice coins. I think that some people think that a 70 graded modern coin is something special when in fact if they did some research they would find that it is a common grade with moderns.

Time will tell if these super graded 70 coins are a good investment or not, with super high population numbers on these 70 graded coins buyer's will know if they were a good buy when it comes time to sell. I own some 70 graded moderns but actually stopped paying the high premium on them when I started seeing the population reports on them, OGP or MS69 for me.

 

I agree, but this topic touches a nerve for some people.

 

Sometimes you have to touch a nerve to get collectors to just think about what they are buying. There are times when buying 70 graded coins makes sense, low mintage coins/sets like the 2011 Silver Eagle Set that might be an excellent purchase. All that I am saying to collectors is to do some research before making a purchase, I would not pay 3 times value on any coin where the 70 populations are very high.

 

I understand that there are no rules on how or what one should collect but this whole rare bullion(where the rarity is being CREATED as a marketing ploy), semi numi, better bullion crap....is sooo annoying to me. What ever happened to good ol fashioned coin collecting???

 

Marketing Ploy is right ! $75 for a MS70 Silver Eagle with mintages in the millions and MS70 NGC/PCGS populations in the hundreds of thousands. Now try to sell these 70 graded coins without losing money. Just My Own Thought I'll take a MS70 mercury or franklin any day.

 

Some folks just like the look of the modern coins, and that's cool. I have no issue with that. I buy a few myself. However, I completely agree that slabbing these coins is a waste of time and money.

 

I have some modern stuff...I mean a pf 70 dcam can be a beautiful coin but slabbing em.....ya... not for me!

 

The earlier dated Proof and MS Silver Eagles get good prices because the populations are pretty small, that is what I am saying. Before spending big money on a 70 graded coin take a look at the population reports on these 70 graded coins.

 

some current sell prices:

2011 five coin ASE setmint pkg$690.00
pcgs ms70 $1,300.00

2012s ASE coin setmint pkg$190.00
pcgs 70 $499.00

2013 ASE coin setmint pkg $189.00
pcgs 70 $329.00

I've been buying mainly currency but still occasionally buy coins either from the mnt or PCGS 70. Some would argue PCGS 70 might be the better investment.

 

I bought five 2011 ASE sets from the mint for appx $1,500.00
Sent the unopened box to NGC for grading, cost was appx $200.0o
Three sets came back early release MS70 which at the time were valued $1,500.oo each.
The two other sets came back ER MS69 which are worth about the same as Mint pkg.
I spent appx $1,750.00 and have coins selling for appx $5,200.00. Grading works for me.

Graded coins are very easy for me to store in PCGS boxes. Mint packaging is nice but I don't buy my coins to admire the packaging. Besides, I'm out of storage room for Mint coin boxes

 

Currency has quietly been picking up steam as the new hot collectable market. I moved away from Silver Eagle's both MS and Proof a few years ago, I still will buy a special set or a MS69 from time to time. Most of my friends have also started moving into currency, some of the Large size notes are like art ~ they are a piece of history.

 

I also bought the 5 set limit of the 2011 sets, sold for $3300. As I stated at times buying 70 graded coins is a good idea.

 

I personally would not pay for grade,but the good news is that enough people do that graded ones are readily available and it will be cheaper usually.

 

PCGS just has an excellent reputation, I have seen both NGC and PCGS graded Silver Eagle's in a 69 and 70 grade with milk spots though, now how can a coin grade that high with them spots ?

 

I like OGP for price, many local collectors where I live do to.

 

" . . . Now try to sell these 70 graded coins without losing money. . . "

Check some buy prices for the PCGS sets I described in my posts.

PCGS grading doesn't necessarily inflate the prices of all coins.
Last week I bought an absolutely stunning 2012 1 oz gold Mexican Libertad PCGS MS70
for $1,546.24. This is one coin of a population of 53 total. I bought it for a couple of hundred dollars over spot gold price.

 

I am saying if I bought a 70 set from a dealer already graded as many collectors do, like the 2011 set when they were first realeased. Many people paid between $1300 and as high as $1500 for these sets, so where are we today as far as prices ~ as you stated $1300. Lowest buy it now on ebay for this 2011 70 set is NGC around $1100.

 

I like them Mexican Libertads, I was looking at the 5 ounce Silver Proof. What do you think of this coin?