Home› U.S. Coin Forum

Check this out modern commem collectors

BSqrBSqr Posts: 543
in U.S. Coin Forum
Proof 70 Olympic Gold Teletrade auction

That's a Pop One coin. image

Comments

  • gmarguligmarguli Posts: 2,225 ✭✭
    Someone is spending $10,000 on a coin that is no better than a PR69, but it was blessed by the Political Coin Grading Service during an era when they were competeing with ICG. INSANITY!
  • BSqrBSqr Posts: 543
    There is no way to know when it was graded is there?
  • nwcsnwcs Posts: 13,386 ✭✭✭
    Not without PCGS's help. Only they can run the serial number through to see when it was assigned. But still no guarantee because of crackouts and such.
    Blog and Pics
  • shirohniichanshirohniichan Posts: 4,992 ✭✭✭
    $10,000 a Pop is a bit much for a modern commem.
    image
    Obscurum per obscurius
  • BSqrBSqr Posts: 543
    nwcs,

    I figured as much.
  • PlacidPlacid Posts: 11,299 ✭✭✭
    Why would anyone crack out a PR70 graded coin?
    Of course you can't tell the cert number anyway on teletrade.
  • braddickbraddick Posts: 23,967 ✭✭✭✭✭
    Pure lunacy. Pure and simple.
    Other adjectives come to mind.

    peacockcoins

  • BSqrBSqr Posts: 543
    up to $13,000 - WOW image
  • TheNumishTheNumish Posts: 1,628 ✭✭
    I refuse to think about this. My head would explode.
  • TWQGTWQG Posts: 3,145 ✭✭
    Is this anything like the 'irrational exuberance' that foretold the recent stock market collapse?

    I can see some poor 'investor' now trying to convince his crying wife that it was necessary to max out the credit cards for this 'one of a kind' coin which is sure to double in value in the near futureimage
    My eBay store
  • gmarguligmarguli Posts: 2,225 ✭✭
    $10,000 a Pop is a bit much for a modern commem.

    Shiroh, stop bashing modern coins. image
  • shirohniichanshirohniichan Posts: 4,992 ✭✭✭
    Shiroh, stop bashing modern coins.

    Sorry, it's in my blood. I guess I'm finally affecting braddick.

    He wrote, Pure lunacy. Pure and simple.
    image
    Obscurum per obscurius
  • Dog97Dog97 Posts: 7,874 ✭✭✭
    Does anyone still want to deny similarities to the tulip craze of the 1600s?? CRAZY 1997 commem
    Change that we can believe in is that change which is 90% silver.
  • BSqrBSqr Posts: 543
    Looks like that Botanical is also a Pop One coin although PCGS pop report shows zero.
  • wingedlibertywingedliberty Posts: 4,805 ✭✭✭
    My pr69dcam looks the same, I made mine for a total of $128, INCLUDING the NGC slabbing fee.
    I would rather spend the remaining $9872 on other coins. Who's with me?



    Brian
  • braddickbraddick Posts: 23,967 ✭✭✭✭✭


    << <i>Shiroh, stop bashing modern coins. Sorry, it's in my blood. I guess I'm finally affecting braddick. He wrote, Pure lunacy. Pure and simple. >>


    Well, you Shiroh AND the $13,000+ pricetag on that coin.. image

    peacockcoins

  • Dog97Dog97 Posts: 7,874 ✭✭✭
    I'm with you wingedliberty!
    I really hate to see those high prices because it makes me want to sell my 70s then my set won't be complete anynmore. I think the key word is Pop 1 though.
    Change that we can believe in is that change which is 90% silver.
  • RussRuss Posts: 48,514 ✭✭✭
    I wonder if the people who pay this kind of stupid money for 70DCAMs ever return the coins to the seller when they get them and find out they aren't any better than a 69DCAM? Or, do they just enter them in their registry set and not care?

    Russ, NCNE
    eBay consignment sales | | Collectibles from Resco CCC
  • BSqrBSqr Posts: 543
    Russ (or anyone else),

    Do you think the 69-S Kennedy PR70DC (pop One) is worth the PCGS value of $5,000?
  • SarasotaFrankSarasotaFrank Posts: 1,625 ✭✭
    [quote]My pr69dcam looks the same, I made mine for a total of $128, INCLUDING the NGC slabbing fee.
    I would rather spend the remaining $9872 on other coins. Who's with me?[/quote]

    now THAT was a profound post.

    I'm with you Winged.
    "I want to die peacefully in my sleep like my Grandfather did, as opposed to screaming in terror like his passengers."
  • RussRuss Posts: 48,514 ✭✭✭


    << <i>Do you think the 69-S Kennedy PR70DC (pop One) is worth the PCGS value of $5,000? >>



    BSqr,

    No, I don't. I haven't seen it, but my guess is that it looks no better than my 69DCAM example (a very primo coin), and also no better than some of Greg's 69DCAMs for the same year.

    However, I'd bet that the last time it changed hands, it went for very close to the CU price or maybe even more. It was very recently purchased for the #1 proof Kennedy set, just in time for the 2002 awards.

    Russ, NCNE


    eBay consignment sales | | Collectibles from Resco CCC
  • PhillyJoePhillyJoe Posts: 2,700 ✭✭✭✭
    I knew Russ wasn't too far away. I'll add my two cents: If I owned the '69 I would want to think it's worth $5k, but who would buy it (other than the no. 1 or 2 set).

    Regarding the commemorative on teletrade THE BP IS GONNA RUN YOU 2 GRAND!!!!! (Sorry for shouting)
    Ouch.

    Joe
    The Philadelphia Mint: making coins since 1792. We make money by making money. Now in our 225th year thanks to no competition. image
  • Dog97Dog97 Posts: 7,874 ✭✭✭
    <<Or, do they just enter them in their registry set and not care?>> They're just buying the number on the slab-they don't care about the coin-it's the number that matters.
    Change that we can believe in is that change which is 90% silver.
  • LokiLoki Posts: 897 ✭✭


    << <i>My pr69dcam looks the same, I made mine for a total of $128, INCLUDING the NGC slabbing fee >>

    *raises a "mr spock" eyebrow at Brian*
    Fascinating! These coins are drop-dead gorgeous!!!!!!
  • BSqrBSqr Posts: 543
    looks like $13,000 is gonna be the winning bid
  • ursabearursabear Posts: 1,888
    That Gold PR70 is beautiful in the way they've taken that picture. It makes it look the grade and then some.

    It looks almost like the devices are floating in black space.

    Well, this kind of thing is out of my range...image
  • dbldie55dbldie55 Posts: 7,731 ✭✭✭✭✭
    Didn't meet the reserve. Looks like the seller is even greedier than one would expect.
    Collector and Researcher of Liberty Head Nickels. ANA LM-6053
  • BSqrBSqr Posts: 543
    how do you know? I'm still seeing "pending".
  • BSqrBSqr Posts: 543
    unbelievable

    $13,000 wasn't enough for that $5 oly.... that's absurd
    and the last I saw the botanical silver $1 it was over $2000

    that really blows my mind, although the sellers could have just been feeling out the market before setting a price
  • krankykranky Posts: 8,709 ✭✭✭
    Is it possible that someone who wanted, say, $8K-10K for the coin decided to put a stratospheric reserve on the coin, had someone else bid it up to $13K knowing it wouldn't meet reserve, then use that bid as leverage to sell it for the desired $8-10K?

    Because I'm having trouble buying the notion that a $13K bid wouldn't meet the reserve (for someone who had actually wanted to sell the coin).

    New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.

  • PlacidPlacid Posts: 11,299 ✭✭✭
    It didn't sell at 13k image
  • RLinnRLinn Posts: 596 ✭


    << <i>then use that bid as leverage to sell it for the desired $8-10K? >>

    I think Kranky is on to something. I just have a hard time believing that these modern commems dont' have a number of PR70 DCAM pieces in the hands of collectors waiting to be slabbed.

    Russ, is the PR70 DCAM rare because it doesn't exist or because it isn't awarded the grade?
    Buy the coin...but be sure to pay for it.
  • RussRuss Posts: 48,514 ✭✭✭


    << <i>Russ, is the PR70 DCAM rare because it doesn't exist or because it isn't awarded the grade? >>



    Both. The PR70DCAMs I've seen (ones that say that on the holder) were NOT 70's. I'm sure there are some out there that are, but not nearly as many as the pop report would indicate. Those were from the era when PCGS actually granted the grade.

    Now, they simply no longer give it in proofs. In my series, for the years 1996-1998, 118 were granted the grade. From 1999-2001, there was a grand total of ONE. As I asked RM in the Q&A forum (which he ignored and refused to answer), what changed?

    Russ, NCNE

    eBay consignment sales | | Collectibles from Resco CCC
  • RLinnRLinn Posts: 596 ✭


    << <i>From 1999-2001, there was a grand total of ONE. As I asked RM in the Q&A forum (which he ignored and refused to answer), what changed? >>

    It does seem a little strange. I also noted RM's pass on that part of your question. I actually had not looked as closely as you have on the '99-'01 pop reports and find the change remarkable.
    Buy the coin...but be sure to pay for it.
  • gmarguligmarguli Posts: 2,225 ✭✭
    Didn't meet the reserve. Looks like the seller is even greedier than one would expect.

    I'd love to see PCGS open the floodgates again and have this greedy SOB owner watch his over-hyped coin be valued at $200 again.
  • gmarguligmarguli Posts: 2,225 ✭✭
    Now, they simply no longer give it in proofs. In my series, for the years 1996-1998, 118 were granted the grade. From 1999-2001, there was a grand total of ONE. As I asked RM in the Q&A forum (which he ignored and refused to answer), what changed?

    I asked a very similar question, but it was ignored also. However, I made my question more pointed.

    I knew my question wouldn't get approved, so I saved it to post in the forums. image


    Subject: Why Did PCGS Change Their Grading Standard For PR70 Coins?

    Whether or not PCGS wishes to admit it, the grading standard for PR70s has clearly changed. Why did PCGS basically stop giving out the PR70 grade?

    There are thousands of PR70 coins out there in PCGS slabs. Yet practically all those were graded a few years ago. With the extremely rare exception, new PR70s aren't being graded.

    The timing of this policy change seems to coincide with the marketplace discounting all ICG coins. We all know ICG is the King of PR70s. image

    Why the change in grading standards? PR70 used to be hard to obtain, then PCGS opened the floodgates, then those floodgates were shut again.

    Did PCGS feel the need to compete with ICG and now that ICG is no longer a credible service PCGS can go back to grading stricter? Did the dealers in the market place put pressure on PCGS to reduce the supply of PR70s in order to keep the prices high?

    What is the true reason for the lack of new PR70s coming out of PCGS?
  • RussRuss Posts: 48,514 ✭✭✭
    Greg,

    We all know why he refused to answer either of us. If he answered honestly, PCGS would be buried in 70s under their grade guarantee program. Better the masses be fat and happy, than know the truth and rise up.

    Russ, NCNE
    eBay consignment sales | | Collectibles from Resco CCC

Leave a Comment

BoldItalicStrikethroughOrdered listUnordered list
Format
SpoilerCodeQuote
Heading 2Heading 1
Emoji
:):D:(;):/:o:s:p:'(:|B):#:*<3o:)>:)
Url
Image
Align leftAlign centerAlign rightToggle HTML viewToggle full pageToggle lights
Drop image/file
Home • U.S. Coin ForumComment As ...