Welp.. wish me luck. My $2,000 proof eagles YOLO.

Azurescens

Edit: I'm submitting raw key date proof eagles that I've amassed in hopes of getting PR70 grades to turn a profit. For their cost + fees, the upside profit potential is huge.

Basically boils down to 15x $23 lotto tickets with the chance to win a couple thousand dollars. Max loss is about $450 if none hit but $330 is a tax write-off for grading fees.

Pays for itself if two do and i get 13oz of free silver. Or something like that.

Some are gently toned or rim toned. I think I did pretty good. I will be able to get a premium for the toners if they hit PR70, which is a free profit multiplier.

I've done alright on these in the past just kinda winging it and snagged a couple PR70 and free silver. I'm hoping I can get a better result actually trying.

Famous last words maybe. I'm trying to one-shot a credit card and I figured this was better than going to the casino. Gotta get my gambling fix somehow and this seemed like the logical choice.

Goldminers

Were they 69's or raw? Either way, you seem to have sent them to the wrong place for the highest resale value and encouragement from this forum

Azurescens

I buy raw ones from estate sellers, storage unit flippers and comic book type sellers.

I prefer their customer service, price, and turnaround times. Losing a little bit of max value when the profit potential is so high means very little to me.

cheezhed

I guess I don't understand this post.

davewesen

Are they still in mint plastic capsules? I always wonder how to send in my proof coins to prevent getting more hairlines than they already have.

Good luck and let us know results++

Azurescens

I'm submitting raw key date proof eagles in hopes of pulling PR70 coins. A $70-$90 raw eagle can easily turn into a few hundred dollars profit each.

lermish

I foresee many comments wondering about who this TPG is and why they were selected. It's Friday afternoon, may even get a bit frisky.

EDIT: I saw the screenshot of the submission form and really thought this was a 20 year old necro thread...

Azurescens

@davewesen said:
Are they still in mint plastic capsules? I always wonder how to send in my proof coins to prevent getting more hairlines than they already have.

Good luck and let us know results++

Yes. I use the big 4x4 flips to hold the encapsulated coins when I submit them.

I think there is a $1 capsule removal fee but I think I only paid it once or something, if at all. I might be wrong.

jmlanzaf

@cheezhed said:
I guess I don't understand this post.

I understand it. I'm not sure about the $2000 number, however. You can buy 1986 NGC 70s for $400. 1993 and 1994 are $750 or $800. To get to $2000, you need one of each. Kind of an expensive lottery.

Azurescens

@jmlanzaf said:

@cheezhed said:
I guess I don't understand this post.

I understand it. I'm not sure about the $2000 number, however. You can buy 1986 NGC 70s for $400. 1993 and 1994 are $750 or $800. To get to $2000, you need one of each. Kind of an expensive lottery.

Cost basis + grading fees + postage was like 1800. I was gonna go for two or three more but got impatient.

jmlanzaf

@Azurescens said:

@jmlanzaf said:

@cheezhed said:
I guess I don't understand this post.

I understand it. I'm not sure about the $2000 number, however. You can buy 1986 NGC 70s for $400. 1993 and 1994 are $750 or $800. To get to $2000, you need one of each. Kind of an expensive lottery.

Cost basis + grading fees + postage was like 1800. I was gonna go for two or three more but got impatient.

Ah... so $2000 is your cost not the expected return. Got it.

breakdown

I am still trying to understand the tax write-off. Do you have some gains for 2024 you are hoping to reduce?
Do you have a coin business?
Note I am not an accountant so I may be missing something here.

jmlanzaf

@breakdown said:
I am still trying to understand the tax write-off. Do you have some gains for 2024 you are hoping to reduce?
Do you have a coin business?
Note I am not an accountant so I may be missing something here.

I'm assuming he has a coin business. Of course, while that decreases the net cost of the lottery ticket, it still seems like an expensive lottery ticket.

I'm also intrigued by his strategy of gambling to "one-shot" his credit card.

logger7

I've been looking over raw proof silver eagles with ogp and rarely see any that are good shots at "perfect". I don't know which do pre-screen specials, but ICG will not charge unless the coin gets your #. Then you could cross.