Should I DOWNGRADE my registry set?

relayer · October 26, 2002 6:12AM

I'm currently in a 6 way tie for #12 in the SBA Proof category.

There are only 13 possible sets with 100% PR70DCAMs and 7 are currently registered.

I've come around to a new way of thinking about modern PCGS PR70DCAMs. They are a PCGS created rarity and to the naked eye look just like a PR69DCAM.

I've got 3 of the 6 in 70. From a Registry point of view the difference is 0.30 points.

I'm more of a type collector than a date series so I only built this set because of it's a 6 coin set. I paid $1640 for the set and the price guide is $1540.

1979-S TYPE 1 99589 SBA$ Type 1 PR70DC 191 0
1979-S TYPE 2 99590 SBA$ Type 2 PR69DC 630 43
1980-S 99592 SBA$ PR70DC 262 0
1981-S TYPE 1 99594 SBA$ Type 1 PR70DC 203 0
1981-S TYPE 2 99595 SBA$ Type 2 PR69DC 547 31
1999-P 99596 SBA$ PR69DC 2343 13

What would you do?

itsnotjustme · October 26, 2002 6:52AM

I would keep the nicest (vs. lowest pop) PR70DC, and buy other coins with the extra $. If you still want the SBA set, you can replace the two coins with 69DCAMs for peanuts. The 70DCAM can still be used in a proof type set.

khayse · October 26, 2002 8:56AM

I would hold what I have and maybe upgrade when I could (or just hold and enjoy).

But then I'm in a six way tie with you so maybe my advice isn't what you're looking for.

-KHayse

supercoin · October 26, 2002 9:13AM

I agree with your thinking on PR70s, so I said "Replace the 70's with 69's and use the money to buy new coins". It's a lonely vote so far.

Full disclosure: From a financial standpoint I have a terrible track record predicting PR70 prices.

supercoin · October 26, 2002 9:14AM

PS -- If it helps, the missing three PR70s are going to cost you a ton of money if purchased any time in the near future. Like thousands of dollars.

braddick · October 26, 2002 11:14AM

Well, the wise would say sell all off the PR70DCAM's, forget about the PR69DCAM's and pick yourself one killer coin off of Laura's list of Top Ten coins...

But, what's the fun in that?!

WWBillman · October 26, 2002 11:25AM

Sell them all and buy yourself a nice MS65 1921 High relief Peace or a MS66FH Type 1 SLQ.

solid · October 26, 2002 1:15PM

I kind of like Brian's idea - keep the nicest 70 as a type set coin, and sell everything
else.

You didn't ask about this part, but I say use the money to buy one or more of the
nicest toned coins you can find, ones that makes you say WOW!!!

DAM · October 26, 2002 1:29PM

Sounds like you're ready to move on.

Brian's idea works for me. And if you don't need the 70DCAM, get a 69DCAM.

Sleep on it.

If you're like me, the pain will be worse tomorrow.

I hate to sell my coins.

prooflike · October 26, 2002 2:47PM

Sell the 70s and make a matched set in 69, use the money to buy something else.

Typetone · October 26, 2002 3:36PM

If they are legit 70s, and you still like proof SBAs, then why not keep them. Supercoin is correct. The two type 2s will cost a fortune in 70. However, if the 70s are not perfect, I would let them go.

Greg

Cocoinut · October 27, 2002 12:54AM

It depends on how much importantance you place on your standing in the registry. If it's not important, and you honestly can't tell the difference between a 69DCAM and a 70DCAM, sell the 70's and use the money to buy coins that are absolute rarities, rather than condition rarities. There are probably hundreds of thousands (if not millions) of SBA'a still in their original cases that are the equals of the 70DCAM's. There are 7004 SBA's in PCGS PR69DCAM or better, out of 11244 total PR SBA's slabbed. That's 62.2%, and the number of slabbed SBA's is about one-tenth of one percent of the original proof mintages. They may look nice, but they're hardly rare.

Jim

LincolnCentMan · October 27, 2002 3:09AM

I agree that PR70DCAM's have no significant difference from a PR69DCAM. To pay more for the designation is to pay more for braging rights. Still, there are a lot of people out there that like to brag. Keep in mind that even though PCGS is artifically keeping the pops down, the market is driven by this. Low pop finest knowns have only gone up up up in the last year, and will probably only go up in the time to come. If you keep the lowest pop PR70DCAM, it will PROBABLY be worth more a year from now.

David

merz2 · October 27, 2002 3:11AM

Supercoin has the right idea,IMHO!

supercoin · October 27, 2002 6:42AM

Cocoinut, whoa there, they aren't difficult coins to find nice, but I wouldn't go quite that far! Especially if you're talking truly near-perfect coins.

As always, keep in mind that those submitted are the cream of the crop. The common dates are money-losers even in PR68, so the only ones submitted are those that are expected to have a very good chance of making PR69.

Cocoinut · October 27, 2002 12:28PM

Supercoin,

I'm well aware that only the best coins are selected for slabbing, but I'm sure that if you can find 10 virgin proof sets from 1979-81, at least 3 of the SBA's would make 69DCAM. Suppose, though, that "only" one in 10 is a 69DCAM, that 's still over one million coins. Now let's assume that 25% have been stored improperly or mishandled. 750,000 is still a staggering number. The only reason the populations are so low is that there aren't that many collectors who feel they need to be told by PCGS that a coin is a 69DCAM. IMO. anyone who believes otherwise is only fooling themselves (or their customers?)

Jim

supercoin · October 27, 2002 6:59PM

Jim, then I'm not sure why you mentioned the PCGS percentages if you realized they are irrelevant.

As to the other percentages, that is of course based on your experience buying proof sets, seeing how many are improperly stored, and searching the rest for coins that are "equals of the 70DCAM's", and submitting them to PCGS, right?

From my (ahem) actual experience, I think you'd be likely to disappointed in how many coins you'd find that are truly nearly flawless, haze-free, and with fully cameod devices throughout.

But in any case, I already said they aren't difficult to find nice. And regardless of the eventual population -- since you can buy one in PCGS PR69 for under $30, if you happen to want one certified it's tough to beat the price compared to the cost of the proof set(s), grading fees, shipping both ways, possible damage to coins, not making the grade, and oh yeah... your time.

As far as fooling my customers... I hope that's a pretty big winking icon or you haven't read my other posts in this forum.

[ Edited to note this is a little snippier sounding than I intended, it was early.

]

relayer · October 28, 2002 2:32PM

As you can see by my latest results, PR69DC SBA's are pretty easy to make

3 90041572 1999-P SBA$ PR69DC
3 90041573 1999-P SBA$ PR69DC
3 90041574 1999-P SBA$ PR69DC
3 90041575 1999-P SBA$ PR69DC
3 90041576 1999-P SBA$ PR69DC
3 90041577 1999-P SBA$ PR69DC
11 90041585 1979-S SBA$ Type 1 PR69DC

supercoin · October 28, 2002 3:14PM

Actually, from your submission results, it looks like only 15% of SBAs submitted to PCGS are 1979-1981 PR69DCAMs.

To be clear (on the remote chance anyone still cares but me

) -- my comments were about the 1979-1981 coins, and in reference to those that were true 70DCAM candidates, and I was simply saying they were not as easy to find as they were being made out to be.

Yes, PR69DCAM are not difficult to find or rare by any sense of the word. If they were, you couldn't buy one for $30, because they are actually pretty popular.

mrpaseo · October 28, 2002 10:43PM

I like coins, they are cool.

Ray

relayer · November 1, 2002 1:26PM

Yesterday was Free Fixed Price Listings on eBay, so I listed the set.

I put prices on them that I would be willing to break up the set for. So if any one or more sells I'll have to break up the set, otherwise they can stay in the safe deposit box awhile longer.

Thanks for your input

relayer · November 4, 2002 2:56AM

I guess I took solid's advice, except I did it in reverse order. I first bought a nice WOW toned coin and then I sold the 80 and 81 PR70's to pay for it.

Would you rather have 2 PR70DC SBA's or one of these?

CarlWohlforth · November 4, 2002 6:10AM

Ummm, one of those!

Good trade, that is a nice nickel, very nice!

supercoin · November 4, 2002 12:50PM

Oooh... does it look like that in person?

(The SBA PR70 label, I mean!

)

lordmarcovan · November 8, 2002 5:14AM

<< <i>I agree with your thinking on PR70s, so I said "Replace the 70's with 69's and use the money to buy new coins". It's a lonely vote so far. >>

Not anymore, it ain't. That's what I voted.

OMG, relayer- is that thing yours ? Is that what you bought with your SBA's? Holy Cow! I want it!

Your question was a no-brainer for me.

In fact, I had the same thought. I sold two of my PR70 DCAM coins (one was an SBA). This is what I bought with the proceeds:

But with my passions these days, I like your nickel even better.

triplexotica · November 9, 2002 9:56AM

I'd sell all my coins any buy me a house on an island, but then again I would hold on to what I have but then again? hahahaha who am I?

Should I DOWNGRADE my registry set?

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