Certifying bullion coins

124Spider

Hi,

I have a lot of certified coins, but I've never sent one in to be certified.

Being semi-ancient, I am aware of my own mortality, and if I should die before I sell my collections, I would like it to be as easy as possible for my heirs to sell them. And I would like it to be as easy as possible for me to sell them, if I live long enough.

I like pretty coins, and the bullion coins struck by the U.S. Mint generally strike (see what I did there? I crack me up) me as pretty.

They consist of some ASE (both proof and uncirculated strikes) coins, and three of each of the Morgan and Peace dollars they sold last year. I expect to continue buying similar coins as they are issued.

It appears to me that the market says that a non-certified coin of the types I have is treated as an MS69 strike (assuming one believes it to be genuine), but it also seems that half the Morgan and Peace dollars grade at MS70 (and mine do look good). And an MS70 coin sells for a good deal more than does an MS69 coin.

So am I right that it probably makes economic sense to ship all these coins off for grading? If so, what advice can you guys give me to minimize the cost of that endeavor?

Thanks!

Mark

1madman

Main thing is to only grade the coins where the value of a 70 is significantly higher than a 69, and hope you get at least one to grade 70 to pay for the entire submission + profit. Don’t grade coins were the price difference between 69 & 70 is minimal. Sell those raw.

jmlanzaf

There is far less than 50% 70s on the Morgan and Peace issues which is why there is a large 70 premium. There were a lot of production issues.

Sending them in is expensive and speculative no matter how you do it. Unless you are selling them now, I wouldn't bother. If 70s are selling for $100 or less ten years from now when you sell them, is it worth the cost of submission?

derryb

While a 70 adds great value to a modern bullion coin do not overlook the fact that the certification of being authentic is important when it comes to high value precious metal coins. While a 70 is preferred by the collector there are many PM stackers who prefer to pay much less for a 69 to simply get the certification. They know that when it comes to sell the certification is a big plus.

One who submits and flips modern bullion knows he will profit from the 70s and likely break even on the 69s. For that reason he will submit anything that he thinks has a chance at a 70.

ricko

Submitting to get the elusive 70 grade on moderns can get expensive. I recommend getting other opinions (with coins in hand) from experienced people prior to submitting. Cheers, RickO

derryb

@ricko said:
Submitting to get the elusive 70 grade on moderns can get expensive. I recommend getting other opinions (with coins in hand) from experienced people prior to submitting. Cheers, RickO

the slightest blemish, nick or scratch will rule out a 70.

Smudge

I would not certify bullion.

NeophyteNumismatist

Certified bullion is (IMO) hard to sell. Dealers don't want to pay the premium for MS70 bullion, and anything less than a 70 is hard to sell, period.

JBK

I have some slabbed 1/10 oz eagles that were a loss-leader deal from a bullion dealer. No grade on the label. I like that kind of "grading" for bullion.

As for your collectable "bullion", the old advice is that if you want stabbed 70s it's best to just buy them that way.

Personally, I don't mind OGP.

Cougar1978

I buy graded bullion coins in 69 & 70. I do not have any raw at this time. If buy raw no desire send in as eats into profits.

ifthevamzarockin

@JBK I try to avoid coins that have been stabbed.

JBK

@ifthevamzarockin said:
@JBK I try to avoid coins that have been stabbed.

It's the wounded gold eagle variety.