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

It’s sad because it’s true

 

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NGC census PF70 UC

Delaware 639
Pennsylvania 1522
New Jersey 1551

Quite a difference.

 

Lol. So sad

 

Dumb question here. So why aren't people buying the silver proof sets from 1999 for about $70 and sending them in for grading?

 

I'm not trying to attack people for what they collect and how much they spend on their collection. I just think it's worth pointing out that there are other factors leading to this price difference. Hype? Initial Cost? I don't know- markets don't always behave rationally.

PCGS dcam: 69/70
Delaware 9100/521
Penn 9100/685
NJ 9100/617

Marginal.

 

They are and have been for 20 years.

Design and yea it was the king so there is some aspect there like 09 S VDB and such

 

Nice stat, but we're talking about an NGC coin that was the subject of the original post.

 

Getting coins into PR-70 slabs, when big money is to be made, is a bear. First, most coins don’t make the grade. No matter how perfect it might look to you, there is usually a tiny spot or pit in the Proof surface that takes it out. Second, the grading companies control the supply. Over time, more high grade coins appear. because of the number of coins submitted because of the profit motive as you said. The other is relaxed standards. People say that is nonsense, but it’s true.

And yes, PCGS graded coins are the coins that bring the really big bucks. The PCGS registry is much more prestigious.

 

In theory only 1 in 23 sets has a PF70.

 

Here's how it works for the dealers who play the PR-70 game. They screen the coins. Then they send in hundreds or even thousands of pieces at the bulk grade rates. Only a small percentage make the PR-70 grade. The majority of the others get PR-69. They sell off the 70s for big dollars and blow off the others, most at the cost of grading, if they can get it.

 

Here is the prime example of the "registry position follies."

How much would you pay for this 1963 Proof cent?



For those who are new to the grading game please note that it has some spots and is starting to tone. Some people when they are shopping for a 1963 Proof set would look at this coin and view it as a potential "bad penny Proof."

PCGS graded this PR-70, DeCam. It is the only 1963 cent to receive this grade. It was illustrated in a number of places, including COINage Magazine. It was obvious to all who so it that it was turning and was no longer a PR-70.

Yet, when it came up for auction at Heritage, it reached $40,000 + two years in a row. It brought up a lot of controversy on the PCGS blog. It initiated so much controversy that PCGS bought it off the market.

It is a Proof Decam, which makes it scarce because very few pieces were made that way in the early 1960s. Still it does have issues. In my opinion it’s worth about $10 outside the holder, but in the holder, it’s a different story because of the registry points it once earned as a unique POP-1.

 

$1175 now with 39 bids. Only 2 hrs. left so get your bids in while you can.

 

On the 1963 proof by the time it had come up the second time for auction the coin had definitely gone bad in the holder and spotted. At the sale PCGS withdrew their grade guarantee for this coin and bought it from the successful bidder to get it off the market. It was also around that time when they dropped their color guarantee on copper and dropped their guarantee from coins that go bad after slabbing. (Tone badly or spot etc.)

 

This, in essence, is the problem. The value is in the holder, not the coin. Coins don’t determine value anymore; slabs do. Registry sets just exacerbate the problem.

Ever try to sell a raw coin to a dealer, and they try to lowball you and use TPG inconsistency as their excuse? Most coins are only “worth” their value in slabs.

 

Hammered at $1225.