why?? oh , why?? such high prices???

Discussion in 'US Coins Forum' started by john65999, Nov 26, 2020.

  1. john65999

    john65999 Well-Known Member

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  3. furham

    furham Good Ole Boy

    The Delaware quarter books for 3 times as much on the first one.
     
  4. thomas mozzillo

    thomas mozzillo Supporter! Supporter

    According to their website NGC has graded 639 in Proof 70 UC. PCGS has graded 521 in Proof 70 DC. That's a total of 1,160 between 2 of the top grading companies. I don't know if those figures are low enough to command a high price of $1,750. Maybe someone who specializes in this series can chime in.
     
    Last edited: Nov 27, 2020
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  5. thomas mozzillo

    thomas mozzillo Supporter! Supporter

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  6. Conder101

    Conder101 Numismatist

    How many have they graded in 69? That might tell you something.
     
  7. thomas mozzillo

    thomas mozzillo Supporter! Supporter

    PCGS has 9,165 in PF 69 DC. NGC has 13,585 PF 69 UC.
     
  8. Conder101

    Conder101 Numismatist

    That says something. The registry people want the "best" and the 70's are a small fraction of that of the 69's. So you get a lot of fanatics with money chasing the few 70's that are available at any given time. I would just buy one of the MUCH cheaper 69's, that no one can tell from 70's if you can't see the label, and be satisfied.
     
  9. johnmilton

    johnmilton Well-Known Member

    Having been born and raised in Delaware, I have an NGC PR-69 Ultra Cameo, clad quarter. I paid $25 for it, which is $15 more than the dealer from whom I punched it pays for them, if he’s still in business. That Delaware Quarter is the “State Quarter” coin in my type set.

    “Registry fever” is an expensive disease. I had it for a brief while when I was building my type set on the NGC registry. Then I learned two things. First, the registry point system is designed to reward more common modern type coins in very high grade than choice early type coins. For example, the guy ahead of me had a 1796 Quarter in AG and a Gobrecht Dollar in VG. My coins were VF-25 and PR-62 respectively. He beat me with Standing Liberty Quarters in MS-67, FH while my coins were MS-65, FH. You get a lot more “bang for the buck,” point wise, with the modern coins.

    Second, “a whale” came along with everything in Gem Uncirculated and blew us both away. I have something over 250,000 registry points. “The whale” has over 500,000.
     
    Last edited: Nov 27, 2020
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  10. TypeCoin971793

    TypeCoin971793 Just a random guy on the internet

    Just dumb people deluding themselves that a common coin is in a scarce holder. Nothing otherwise special about the coin
     
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  11. TypeCoin971793

    TypeCoin971793 Just a random guy on the internet

    A fool and his money are soon parted. Those after points and not quality will loose tons of money on the back end
     
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  12. Long Beard

    Long Beard Active Member

    Agree 100% with Condor. Those holders and beans mean absolutely nothing to me other than for authentication. I collect coins.
     
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  13. Vess1

    Vess1 CT SP VIP

    Anybody who doesn't do a registry set on NGC or PCGS won't understand.

    Points are assigned by the company based on relative scarcity of the type or series.

    So a PF69 might be worth 100 points on the registry while a 70 might be worth 1200 points. It's pretty much the only thing that could drive prices on something like this. If you want to be in the top 1000 of your registry set, you don't have to work very hard. If you're trying to stay in the top 100, 50 or 20 etc.. you have to keep upgrading to compete. Probably not for everyone.
    There are many different types of registry sets. I do one. It adds something to the collection I think and helps give direction to a set. I like that you can upload your pics and share the entire set with anyone you choose so it's easy to go through at any time. Can look at your set anytime you have internet access. And I have upgraded coins for the sake of chasing points occasionally. For example, the difference between a MS66 1976-S silver Kennedy half and a MS68 is huge. The 66 is worth $30. The 68 is worth about $250. Not a lot of visual difference. But the 68 is worth 1500 points.
    The set encourages you to get the best types you can afford. Some types are not worth a lot of points no matter what year or grade you get. I've also sacrificed points to use coins I'm more fond of.
     
  14. johnmilton

    johnmilton Well-Known Member

    No always. The early coins get shortchanged on the NGC registry. I don't have the intelligence to figure out the PCGS system. I do very little there anyway because they only accept their own coins.
     
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  15. Casman

    Casman Well-Known Member

    I doubt there are that many serious registry players to eat up that number of 70’s.
     
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  16. TypeCoin971793

    TypeCoin971793 Just a random guy on the internet

    This is the sign of a true collector
     
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  17. john65999

    john65999 Well-Known Member

    reminds me of people playing rpg's (role playing games, spending upwards of 100k on a character and accessories that have no real worth in the real world, and then one day...poof, they end the game, happened to me in mobsters 2, but i only lost about 600.00 for about 2 years of playing time, some of my enemies on there that beat the crap out of my character, they spent 35k to 100k on theirs, lol
     
  18. Vess1

    Vess1 CT SP VIP

    No probably not, but it plays some role in it. The others, I can't explain. A lot of stuff out there doesn't justify the price, regardless of people's ability to buy it. The market figures out some of it like a Kennedy half that had a mintage of 11 million and only 500 have been graded MS68 or better, but some things are off the rails.
     
  19. Virginian

    Virginian Well-Known Member

    Everyone thinks that someone else's collecting desires are dumb, stupid, etc. It gets tiresome. Guess what: there are a zillion people who think spending so much time and money collecting some old coins from the 1800s is stupid, too. To them, a quarter is worth 25 cents. How is collecting old Buffalo nickels somehow "superior" to collecting MS-70 PCGS holders? Why can't folks just be happy about what they collect without feeling the need to denigrate what others collect, and call them "dumb," "stupid," etc.? Inferiority complex?

    The only thing that ever "justifies the price" to a collector is the joy the collectior expects to derive from adding it to the collection in comparison to the money spent.

    And I have news for some of you. There are a lot of folks out there to whom $35K is like $600 to you.
     
  20. johnmilton

    johnmilton Well-Known Member

    No one is denigrating what these people collect, @Virginian. What they are questioning is the wisdom of paying very high prices for very common coins because they push up collectors’ standings in a registry that is run by a company that is also the referee.

    Collectors are free to spend their money the way they please, but it doesn’t hurt to have some experienced people give some perspective to what you are doing. Most collectors can’t tell the difference between a PR-69 and a PR-70. I’ll go out on limb and say that there is no difference in some cases, especially when standards are changing constantly.
     
  21. TypeCoin971793

    TypeCoin971793 Just a random guy on the internet

    There’s a difference between a collection and a pissing contest. The latter promotes a cancerous mentality within the collecting world and can be quite financially unwise if undertaken carelessly.

    Differentiating between 69 and 70 on modern coins is basically guesswork, even at the TPGs. As a result one can see that paying a premium for a 70 over a 69 is effectively paying for a difference in 0.01¢ in ink.
     
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