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PCGS competition for VaultBox - Ultra Breaks
U1chicago
Posts: 5,622 ✭✭✭✭✭
It looks like PCGS has entered into a partnership with a company that is doing card break style events with coins.
Professional Coin Grading Service (www.PCGS.com) was selected to create and debut a set of limited-edition holographic labels for a new program of 2023 Morgan and Peace Dollars. The limited-edition holders are available via Ultrabreaks, an innovative new company offering the coins in sealed packs that reveal which of the three holders is within only after the packaging is unwrapped.
“PCGS is excited to be involved in a new and innovative project that brings the excitement of random chance seen in other collectibles to the coin market,” said PCGS President Stephanie Sabin. “We wish everyone the best of luck!”
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That’s even worse that Vaultbox. It’s literally the same coin with only the label being “rare”. Barf.
That is quite underwhelming but I could see it expand to random coins in the future.
I wouldn't call it "worse".
I would call it leveraging label collectibility. Holders and labels are collectible, that is a fact.
It probably is "better" for the marketplace to leverage the label or holder in a game of chance rather than relegate the coin to a sweepstakes game. The value differential is less enticing. I think PCGS is viewing the card break sensation carefully at this point.
This is getting to be like the junk wax era in cards. Errors and varieties made on purpose and hyped. Hope prices in coins don't follow that trend!
https://smallcopperguy.com
I get why they are doing it, but the only really collectible labels are those labels that have unintended rarity, like first generation PCGS 108s or Doilies. This is intended, artificially manufactured rarity…just like super ultra hologram 1/5 insert sportsball cards. There are plenty of people willing to pay for it, but it generally isn’t a good use of money.
Had to double check that it wasn’t April 1st.
Lmfao
Remember when people were criticizing NGC for working with VB? Lmfao
I love both ideas. It's all just fun.
Let's get some ancients in mystery boxes. Let's actually get registry sets that you have to complete buying boxes.
Let's have fun.
Here's my newest fun pick-up. $10 for 1/1000th of an ounce of silver. But I LOVE it. It's besutiful. It's fun. And if it's worth 3 cents some day. I DON'T CARE!!!
I'll withhold final judgement until after I hear what @WQuarterFreddie thinks of this.
Worry is the interest you pay on a debt you may not owe.
Talk about jumping the shark, disgusting. I consider myself a holder collector, but this is just an awful attempt to jump on a bandwagon.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
I've always been able to see a dozen ways to make it fun, profitable, and not very expensive.
I think "fancy", limited edition slabs are awesome. How about some with original sketches or photographs? Signature series. Custom inserts.
It's all just fun. I don't need to see yet another MS65 Morgan. Boring. I'd rather see an MS63 Morgan in a holder with an original sketch label. A medieval coin with a limited edition photograph of medieval artwork. Non-US coins with flag labels.
Bring on the infinite variety of exonumia! Somebody slab a wooden nickel!
Viva la chaos! Viva la FUN!
I think he's camping this weekend. You may have to wait until Tuesday. It might be a race to see if Freddie gets in before the close.
I disagree a bit. People do often pay a premium for Mercanti labels... and he's signed his name more than any Treasury Secretary on record.
Interesting concept. It is not for me to tell others what or how to collect. Enjoy the hobby however you wish.
Successful BST with BustDMs , Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino (CBH's - 35 Die Marriage's)
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
In my opinion they are cheapening the brand. There’s Silver Eagles with over 100 different inserts for ONE YEAR….and slick marketing makes it appear that the labels with populations of one, two, three, or even 10 are somehow ‘rare.’ It really turned me off so much that I literally quit collecting SE’s. At least with older coins there’s no FDOI’s, First Releases, First Strikes, etc…..and no marketing ploys to reel us in.
Yes that is the danger with too many rare labels.
Lots of rarity, no demand.
And frustrated collectors to try and keep up.
Wonderful. You vote disorderly marketplace.
On Wall Street a disorderly market is defined as market manipulation, insider trading and price fixing, collusion.
Most would prefer an orderly market.
must bite my tongue on this one, or might be the dreaded boot
My first thought was about those posts that said PCGS would never do something like this. I wonder if any of them will comment on this thread?
I could be more impressed with a fancier label (something that has custom sketches/artwork like you mention).
I'm not impressed with this offering since it seems to just be a few colors and holograms (not much effort from my viewpoint).
Price for 2023 Unc. 'Morgan/Peace' U/B pack:
Source: https://ultrabreaks.com/products/ultrabreaks-peace-and-morgan-pcgs-ms70-pack-series
Edited to Add:
The PCGS 'pop report' currently shows some U/B coin numbers for the 2023 Proof 'Morgan/Peace' dollars. So, it look like a second release is in the works.
That looks nice 👍
Would you rather have 1000 magazines to choose from or just one?
Having choice in the market is NOT equivalent to having a disorderly market. Not at all. The Market will very efficiently price all the coin options, as it does now.
That's only about double what a 1st strike PCGS 70 costs.
Thanks!
It's very pretty. It makes me happy.
I agree. I won't be playing. But I'm okay with those that do. It will be interesting to see what the rate label fetches in the secondary market.
Does anyone know who the principals are?
Since it's only the label that matters, let's cut out the middleman and leave the coin out of the holder.
ANA 50 year/Life Member (now "Emeritus")
FWIW, the PCGS article in the OP quotes Justin Duane, owner of CoinsTV.
In the PCGS articles it says this:
“We’re thrilled to introduce a groundbreaking concept to the world of coin collecting – the very first 'packs of coins,’” said Justin Duane, owner of CoinsTV
Beat me to it!
I’d prefer vaultbox over this since you’re only paying up for for the slab that may or may not have any premium at the end of the day but to each his own.
I attempted to make a new post about this subject early this am but it’s still held up for review by PCGS. Is there a moderator that I can “@“ for them to just kill it since it’s now superfluous?
Thanks. Is he the only one? He's not really known to me.
I went to his website but that's all I know.
NGC and PCGS are making themselves the new ICG and ANACS. I hope CACG holds the line.
It's not really up for review. That's a bug. The posts never come back.
That would be a rare "error"... and about a accidental as a few others I can think of.
Too late. Remember the earliest days of talk about CACG - no modern coins, etc.?
ANA 50 year/Life Member (now "Emeritus")
Maybe we could just slab the labels
Successful BST with ad4400, Kccoin, lablover, pointfivezero, koynekwest, jwitten, coin22lover, HalfDimeDude, erwindoc, jyzskowsi, COINS MAKE CENTS, AlanSki, BryceM
I did not see anyone else mentioned. And I also don't know who he is.
They never said that, to my knowledge. No grading company could stay in business on classic coins.
And what is the problem with grading moderns? Those are legitimate, widely collected coins.
No new 2 point grading scale to go along with it?
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars
They are all 70s. They only need a 1 point system.
Two grades. 69 and 70 (or 9.9 and 10). Three if you also count "no."
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars
Does anyone else keep reading this as "ultra beaks"?
In honor of the memory of Cpl. Michael E. Thompson
Wow! I read through the website and I have no interest in this product at all.
Good luck to those that want to buy it. I will be monitoring the website on release day. Personally I don't think they will sell out😂🤣
Only 600 packs available but who cares? Price is way too expensive in my opinion. Risk/Reward is to great on the Risk side and price point is way too high.
In my opinion VaultBox is a far superior product and caters to the trading card crowd mentality.
Ultra Breaks product is a big miss in my opinion, lacks imagination and misreads the intended market.
I am truly shocked PCGS is participating in this program.🤔
I thought everyone only collects labels nowadays, and the coins inside don’t matter?
What’s the difference between a common coin in a doily label and this new product?
No
One is an accidental rarity and the other is a manufactured rarity.
But some people would collect both.
I think they'll probably sell out. 600 isn't a lot.
Look what people were paying for the signed Peace $ COAs of a nobody important. With only 3 of the slab type available, some people will be interested.
VB should at least update their website. They don't even mention VB4 as a future thing.
Another difference is that that the doily label has a track record of people paying a premium.
I guess these coins selling at $249 is the premium, and no further upside shot from that. Common doilies should be ~$50 slabs, but their premium takes them into the multi hundred dollar range. That make sense. Probably should have priced these at the $129 number to create a better buzz for future releases.