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Cherrypicking Mint bags
DoUPlayOnePocket
Posts: 330
I have pretty good luck with them. Does anyone else search bags? I'm not especially fond of the satin finish on the uncirculated sets. I like to find the high grade business strikes. The Sac's, below, came from a $250 bag. I submitted 54 and got back 2-MS66, 34-MS67 and 14-MS68. What made it even more interesting is that 28 of them have a neat little die clash under her chin from the small feathers of the eagle.
This Kennedy is one of 6 that I got from a $100 Mixed P&D bag when the Mint released them in 2004.
And, this Kennedy came out of the same bag!
Has anyone else had good results with bags?
Chris
This Kennedy is one of 6 that I got from a $100 Mixed P&D bag when the Mint released them in 2004.
And, this Kennedy came out of the same bag!
Has anyone else had good results with bags?
Chris
0
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What's one of those MS68 sacs go for?
How about the reverse clad layer missing?
Hoard the keys.
<< <i>My luck hasn't been nearly as good.
What's one of those MS68 sacs go for?
How about the reverse clad layer missing? >>
The last time I checked the census, NGC had graded 42 MS68's and I had 1/3 of them. The Sac's without the die clash are selling for $150-$175 now. The first one I sold last year went for $375. That one coin paid for more than half of the submission, shipping and insurance fees.
I know of only one other of the 2001-D Kennedy's missing the clad layer in existence. The 2001-P & 2001-D rolls and these $100 Mixed P&D bags were released very late in 2004. I ordered them right away because the 2001 Kennedy's weren't put into general circulation. I submitted this in January, 2005 and posted it ATS. In March, one of the members alerted me to the fact that another had been listed raw on eBay. I checked it out to see how it would fare. The seller was touting it as a one-of-a-kind, so I sent him an e-mail with photos and politely told him that it wasn't the only one. He was very appreciative, and he amended his listing to let bidders know that there was another. His ended up selling for $555, but he told me that mine was in better condition. I wouldn't let it go for any less than $750.
Chris
My luck seems to be getting the coins that were put through the shaker in bag before shipment.
S
I searched old bags and old rolls. I do better with old rolls.
<< <i>Just think how much the coins would have brought if they were graded by PCGS!
If you know that for a fact, then maybe you'd be interested in buying all of them at $150 each so you can submit them for cross.
Chris
But alas, I've done that with results that aren't even close to what you've got there!
The name is LEE!
For dollars, it costs 12.4% more to purchase an equivalent amount in rolls.
For half dollars, it costs 25.8% more to purchase an equivalent amount in rolls.
For quarters, it costs 25% more to purchase an equivalent amount in rolls.
So, if I'm going to take a "flyer" on cherrypicking bags or rolls, I'll choose the bags and save some of the cost up front.
Chris
ngc overgrades everything nowadays. JMO
edited to add do you know how hard it is to get an MS68 on a circulation strike from pcgs? and you have handfulls from ngc...think about it.
That being said, I am curious to see the documentation you have to support your assertion that NGC overgrades everything!
Chris
what do you do with the rest of the Sacs in the bag ?
& how many bags have you bought to search and send in
because i've thought of buying a bag ?
Snowman
<< <i>Very interesting Chris
what do you do with the rest of the Sacs in the bag ?
& how many bags have you bought to search and send in
because i've thought of buying a bag ?
Snowman >>
I roll the "leftovers" and use a Sharpie to record the date/mintmark on the wrapper. Then, I take them to my bank and deposit them. The tellers don't mind at all because they usually have other customers who will each take a few rolls. Of course, I've been doing business with the same bank for 25 years.
Each year, I get 2-4 bags of each mintmark of Sac's. I used to get bags of 25c & 50c as well, but I had too many bags laying around and not enough time to search them. Right now, I still have 4 - $250 bags of 2007-D Sac's, 2 - $250 bags of UT SQ's and about 30 - $25 bags remaining of 2002-2004 SQ's to go through. I usually submit 50+ at a time for each denomination/date/mm. Last year's results for the 2007-P Sac's was my best. Out of 54 submitted, 14 (26%) came back MS68, 38 (70%) came back MS67 and just 2 (4%) came back MS66. Overall, my averages have been closer to 15%, 75% and 10% respectively.
Bear in mind that those results are only based on the number of coins submitted. If I considered the total number of coins, including those that I take to the bank, the percentages would be considerablty lower. All you need to find is a few MS-68's, and those few coins will pay for the entire bag. Yes, there have been times when everything in a particular bag looked liked junk, but even with that, I'm still way ahead of the game.
One thing is sure! If I were a grader at a TPGS, I'd probably be fired the first day if I examined customers' coins like I do mine. I'll go through a $250 bag of dollars, giving them a cursory inspection, and maybe set 100 aside. Then, I'll go through those 100 being more critical and set aside the best of those, and before I finally decide which ones I want to submit, I'll separate them by what grades I think they will get and eliminate the worst.
You can't let yourself get discouraged by poor results. If you are just going to buy one bag and give up if it doesn't go well, then you may as well save your money.
Chris