Behold the modern coin market $5k for $300!
HoosierDaddy
Posts: 80
Slab City
Now I know that these are all crap slabs, but I would like to point out that with 28 min. to go, this $5,000 "book" value is a whopping $300. Even if all of those coins were overgraded by a full point, there is still a grand plus to be had. Why so cheap?? Either:
#1 - The modern market is not as valuable when it comes time to liquidate a chunk as we thought it was.
#2 - No one wants slabs from ACG, PCI, and NGC.
#3 - No one is e-baying for collections...
Your thoughts?
-Hoosier
Now I know that these are all crap slabs, but I would like to point out that with 28 min. to go, this $5,000 "book" value is a whopping $300. Even if all of those coins were overgraded by a full point, there is still a grand plus to be had. Why so cheap?? Either:
#1 - The modern market is not as valuable when it comes time to liquidate a chunk as we thought it was.
#2 - No one wants slabs from ACG, PCI, and NGC.
#3 - No one is e-baying for collections...
Your thoughts?
-Hoosier
0
Comments
Greg
He's got $1,800 of it coming from the ACG 1988-S Kennedy at pr70DCam -- there's a big reason it won't go high.
and it sets us apart from practitioners and consultants. Gregor
I was not implying anything. Just wanting thought and opinions on this select auction & price. In fact, if you will take a look - "crap slabs"; 'overgraded"
I know what the reason was ("CRAP SLABS") but was trying to get people to think beyond the realm of modern vs. prior.
If you read anywhere in my opening post any type of implication then you are a better conceptionist than perceptionist.
BTW - You are right (I looked it up BEFORE I even posted it - the $$ are from PCGS on-line)
#2: This is the key. Look at non-moderns such as Morgans. Search for any date you want and notice the far-under-book prices routinely offered for ACG.
#3: This one is a "slider". This wasn't a set at all. This was a bunch of random coins. Sets will often get a decent value. Random bunches of coins don't. You see the same thing on Morgans, for example, where someone will have "10 certified coins" and they will go for under the average sale price of similar coins and then someone else will have a "complete Peace collection" which will go for a good sum.
Look at the pop charts. Compare Morgans in 65-67 to Moderns in 68-70 and you'll see that the pop numbers are similiar and the prices of the Moderns are generally lower. Based on this formula a Modern would appear to be a better "investment".
Also, look at a popular modern, the Silver Eagle. The coins move up in value pretty much as soon as the next year's supply is available.
The one area where moderns take it in the shorts is NON-PCGS/NGC. In the case of a Morgan, people will buy a non-PCGS/NGC all the time. In the case of a Modern, people know that its not worth much at all unless it is at least 68+ so the price for an ACG/ICG is far less.
Just my 2 cents.
What was the face value on this lot? About 2 bucks. That is probably pretty close to what it should have gone for (maybe about $4 to account for the silver!). I have given up on these grading services. I think just about anyone can get PR70DCAM, MS70, etc. just by asking!
JJacks
Your post title certainly implies you feel this auction reflect the state of the modern coin market. The post title is
<< <i>Behold the modern coin market $5k for $300! >>
If you intended to berate third rate grading services, you could have titled it
<< <i>Behold the third rate slab market $5k for $300! >>
Just disagreeing with the title.
and it sets us apart from practitioners and consultants. Gregor
I would further note that nearly half of the slabs are NTC, which may actually be the only company on earth worse then ACG.
Clearly, the bidding reflects the fact that the market is learning to detect garbage when it is being offered.
Russ, NCNE
All notorious for overgrading. Irrelevant to put a book value on a coin that most assuredly is not the grade the plastic says.
#2 is your answer
Tyler