Under $10 PCGS coin?
coincollect2018
Posts: 16 ✭
I have noticed on eBay that PCGS graded coins such as quarters or Sacagawea dollars etc are selling for under $10. How is that possible when the min fee to grade seems to ~$12 for bulk submission? Are these fakes?
Thanks for input.
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Comments
Not fakes. Ebay is a funny place.
Curious...can you post a link?
Sirius auctions sells a lot of modern 69s etc for 1-10$. They are who got me started on pcgs coins.
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc
Loss leader in many cases. And not much of a market for many of them.
A sample link
https://www.ebay.com/itm/2005-S-Sacagawea-Dollar-PR69DCAM-PCGS-Proof-69-Deep-Cameo/291166281936?
Entering this thread, I lost $9.
If you submit 50 coins you are after the few that get a 70. The profit on those more than makes up for the loss on the majority that get 69 or lower grades.
http://www.silverstocker.com
Anyone can PM me Any Time about Any thing.
Could be many things:
1) Original person had it graded, sold it, then down the line, the price has dropped, owner lost interest, etc. and now it is "below" the cost of grading.
2) Someone "over estimates" how good their coin is, and it comes back a disappointment, and off it goes.
3) Person sent in a batch, and the "low grades" are just tossed, as 1 shooting star makes the whole submission worth it.
The market prices are set by grade on the holder, not how much the certification costs were. You can spend the money to put a pig in a silk dress, but it’s still a pig.
As the previous post stated, dealers bulk submit coins to get the coveted 70 grade. They make their money on the 70s and usually blow the others off at cheap prices. A dealer who I once knew, who specialized in the modern market, would pay $5 for PR-69 graded modern coins and sell them for $10.
Learn something new every day...Thanks for the link @coincollect2018. .
If you will look at the PCGS price guide for modern stuff, you will find the value they place on some in the 7 to 8 dollar range, which is well below grading fees. Supply exceeds the demand on common stuff.
Seems legit, I see "bargain bins" at shows full of $5 PCGS/NGC slabbed coins all the time.
Andrew Blinkiewicz-Heritage
There are many, many types of coins that aren't worth the cost of the holder. The grading services love it.
The '70' group subsidized the spread
Go to eBay. Search US coins by lowest prices first. Amazing.
but gained a cool proof dollar
I sold a 1987-S Roosevelt Dime on ebay for 99 cents + $3 shipping!
It was a PCGS PF68 DCAM
Better raise that to $4 shipping.
We have PCGS Proof Kennedy Halves on BST for less than $10 ea
https://forums.collectors.com/discussion/comment/12227287#Comment_12227287
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb
Bad transactions with : nobody to date
This allows YN's to pick up graded coins at cheap prices... They will then have graded coins to learn from...and it stimulates further interest in the hobby.... Much better than fakes from Asia....Cheers, RickO
Dealer bulk submitters only pay $4 or $5 for some of those. The $12 bulk submission fee is for retail customers.
And, as others have noted, sometimes those are the grade misses.