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Just another $$ making scheme

Just when you think the grading companies can't find another reason for the cost of coins to go up, they now offer this

Comments

  • NickelMikeNickelMike Posts: 179 ✭✭✭

    The 10 point scale has been around a bit now. The unique holders/labels are nothing new. But yeah, an attempt to add scarcity. Yawn.

  • ajaanajaan Posts: 16,933 ✭✭✭✭✭

    Aren't all TPGs in it to make money?


    DPOTD-3
    'Emancipate yourselves from mental slavery'

    CU #3245 B.N.A. #428


    Don
  • coinbufcoinbuf Posts: 10,403 ✭✭✭✭✭

    A gold coin would look great in that black holder tho.

    My Lincoln Registry
    My Collection of Old Holders

    Never a slave to one plastic brand will I ever be.
  • vplite99vplite99 Posts: 1,145 ✭✭✭✭

    Create rarity, make money Pure greed.

    Vplite99
  • TrampTramp Posts: 616 ✭✭✭✭✭

    I think a wise person on this forum said, "buy the coin not the holder."

    USAF (Ret.) 1985 - 2005. E-4B Aircraft Maintenance Crew Chief and Contracting Officer.
    My current Registry sets:
    ✓ Everyman Mint State Carson City Morgan Dollars (1878 – 1893)
    ✓ Everyman Mint State Lincoln Cents (1909 – 1958)
    ✓ Morgan Dollar GSA Hoard (1879 – 1891)

  • braddickbraddick Posts: 22,529 ✭✭✭✭✭

    @Tramp said:
    I think a wise person on this forum said, "Buy the coin, not the holder."

    Another said, "Enjoy your coins."
    If collecting these coins/inserts brings joy, it is not on me to harsh your mellow.

    peacockcoins

  • TrampTramp Posts: 616 ✭✭✭✭✭

    @braddick said:

    @Tramp said:
    I think a wise person on this forum said, "Buy the coin, not the holder."

    Another said, "Enjoy your coins."
    If collecting these coins/inserts brings joy, it is not on me to harsh your mellow.

    ???

    USAF (Ret.) 1985 - 2005. E-4B Aircraft Maintenance Crew Chief and Contracting Officer.
    My current Registry sets:
    ✓ Everyman Mint State Carson City Morgan Dollars (1878 – 1893)
    ✓ Everyman Mint State Lincoln Cents (1909 – 1958)
    ✓ Morgan Dollar GSA Hoard (1879 – 1891)

  • gumby1234gumby1234 Posts: 5,177 ✭✭✭✭✭

    Your paying for a label and a black insert. Collect everything BUT the coin.
    PCGS has 300 2023 Magnus Opus graded MS70 listed on coinfacts.

    Successful BST with ad4400, Kccoin, lablover, pointfivezero, koynekwest, jwitten, coin22lover, HalfDimeDude, erwindoc, jyzskowsi, COINS MAKE CENTS, AlanSki, BryceM

  • PerryHallPerryHall Posts: 44,855 ✭✭✭✭✭

    @vplite99 said:
    Create rarity, make money Pure greed.

    It sure works for the US Mint. :D

    Worry is the interest you pay on a debt you may not owe.

  • SmudgeSmudge Posts: 9,061 ✭✭✭✭✭

    Dressed up bullion.

  • OAKSTAROAKSTAR Posts: 4,892 ✭✭✭✭✭

    @PerryHall said:

    @vplite99 said:
    Create rarity, make money Pure greed.

    It sure works for the US Mint. :D

    The mint, mints coins like the post office prints stamps! 😆

  • ZoinsZoins Posts: 33,735 ✭✭✭✭✭
    edited May 26, 2023 6:22AM

    Custom, limited edition labels and colored inserts have been out for a while.

  • FrazFraz Posts: 1,207 ✭✭✭✭✭

    People have greed, not institutions. The mint has employees who do their work. They get promotions for doing a better job, I doubt that the fed gives them commissions, or bonuses. The greed derives from the customers who buy things that they don’t need.

  • fathomfathom Posts: 1,439 ✭✭✭✭✭

    If we knew plastic was this collectible we would have kept our rattlers

  • johnny9434johnny9434 Posts: 27,022 ✭✭✭✭✭

    always use wisdom in this arena, jmo

  • braddickbraddick Posts: 22,529 ✭✭✭✭✭

    @fathom said:
    If we knew plastic was this collectible, we would have kept our rattlers

    And ironically, if we had all done so, they would have zero collectibility.
    Part of the equation is scarcity coupled with a desire to own. Eliminate one of those factors, and
    you're left with the likes of collecting sand.

    peacockcoins

  • MetroDMetroD Posts: 1,875 ✭✭✭✭✭

    The coin in the OP is a 2023 ASE (i.e., PCGS base coin #913090).

    At the time of this post, PCGS was offering 116 different labels for this coin. They include:
    ~ base;
    ~ time-based designations (i.e., FS and FDOI);
    ~ unique labels (e.g., Sabin Flag, Cleveland Blue Eagle, Legends of Life, 1 of 2023 Gold Foil, etc.);
    ~ and, the combination of a time-based designation plus a unique label (e.g., FDOI Magnum Opus).

    At the time of this post, PCGS reported 102,071 total graded coins.
    Of this total, 68,552 are base and time-based designations.
    The remaining 33,519 coins, or almost a third the total, has a unique label.

    My point. While it may not be what I collect, people are clearly buying these unique labels, and a lot of them. If consumers were not, the dealers would stop ordering them from PCGS year after year. Further, given the numbers, I am inclined to believe that some of these customers know exactly what they are purchasing, and are willing to pay a premium, if applicable, to get what they want. IOW, while I am sure that it does happen due to nescience, not everyone that purchases a unique label has fallen prey to marketing scheme.

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