Astonishing! Modern Commem Watchers, Look . . .

BowAxe

. . . at tonight's Teletrade auction. A 1988W Olympic $5, PCGS PR70 DCAM (Pop. 1) is currently at a bid of $10,500! It was at $9400 when I first checked the auction around 4 pm. Amazing. There's also a 1997P Botanic Garden $1, PCGS PR70 DCAM (pop. 2, although the Teletrade listing says pop. 1) which has not moved from a bid of $6000 and I don't know whether or not it has actually received a bid, or if this was its opening price. I'm not so often shocked by coin prices these days, but for these coins to sell at these levels I have to shake my head in wonder. Truly, I have failed to appreciate the power of the PCGS mystique.

Dell

braddick

Wow! I own a PR69DCAM and would LOVE to get even 10% of that price the 70 is going for! Amazing stuff.

MS67PLUS

LINK

JoeHolt

well its at 12k now

BowAxe

So amusing -- the '88W Olympic in PCGS plastic is selling for a 100X multiple of the "same" grade in ICG plastic.

Dell

Russ

Is this the same one that was listed a while back, went to $13,500 and ended up being a "not sold"?

Russ, NCNE

sonofagunk

must be the same since it is a pop 1. What was the final price that it did NOT sell for?

wayneherndon

It is the same one. I believe Lecce owned this coin recently (and likely still does).

WH

BowAxe

It's still not sold, nor did the Botanic Garden $1 sell. As flabbergasted as I was that people were bidding up to 12k on the Olympic $5, I am just as nonplussed that the seller believes it's worth even more than that. Fascinating. I wonder what his reserve price was.

Dell

dpoole

Hmmm. Sounds like it's time to submit the ol' commems!

truthteller

Sounds like some shill bidding to create a false market price.

TRUTH

roadrunner

I had a similar situation with a $50-100 coin that got run up to $1200 on Teletrade. I was elated. That is, until it got returned. Then "sold" and returned 3 more times before I ended up getting $100 for it....and losing money in the end because they got $100 in buy backs / postage out of me before I realized what happened.
No logical explanation was ever given by Teletrade.

roadrunner

gmarguli

Sure these prices might sound like a lot, but think of all the registry set points you'll earn.

Be honest, what would you rather have, these two super rarities or something common like a 1907 HR Saint which has thousands graded?

braddick

<< <i>Sure these prices might sound like a lot, but think of all the registry set points you'll earn. Be honest, what would you rather have, these two super rarities or something common like a 1907 HR Saint which has thousands graded? >>



Greg- even here, on this Registry Forum, you're preaching to the choir.

Russ

Oh, Greg was being sarcastic?

Russ, NCNE

gmarguli

even here, on this Registry Forum, you're preaching to the choir.

I bet there are several forum members here that would be willing to pay $5000 for these coins. That's knowing full well that the only reason these are graded PR70 is that they were graded during a loose time at PCGS.

I really would like an explaniation from people who buy these PR70s why they would be willing to pay a premium for the coin only because it was graded during a loose period. That's like paying more for a car because it was built during a time of low quality control.

braddick

I may be naive, but the collectors I've communicated here on this forum wouldn't do so.

Anyone here care to admit they WOULD pay $5.000.00 per coin? (I ask that with Greg and I full well knowing these coins actually bid at over TWICE that amount.)

BowAxe

Greg -- Unless you have copies of the population reports going all the way back to when a coin was first issued, how would you know when it was graded? If you did have a collection of the pop reports you could figure this out for a pop 1 coin based on when it first appeared in the pop reports; but consider, for example, the 1989-S Congress $1 which is pop 5 in PR70DCAM: how would you know if any particular one of these five coins was slabbed during a "loose" time or a "tight" time? If all five appeared in the pop reports during 1990 that's simple enough, but what if they appeared gradually between 1990 and 2002? Is there a code in the certificate number (like on a car battery) that tells you the specific year in which a given coin was slabbed?

Braddick -- I don't have any sets in the modern commem PROOFS, so I personally would not pay $5000 for either of those coins. However, to maintain my #1 position in the Circulation Strike sets I certainly would consider paying $5000 for any of the four pop 1 or pop 2 MS70 coins that I need, should they become available today. Up until now the most I have paid for any MS70 coin in my sets was $4800, and that was in an auction bidding war with a dealer. The next highest price was $1950. All my other MS70's have ranged from $150 to $1600.

Dell

gmarguli

BowAxe, you're right. I don't know when these coins were made. They could have been made during the tight grading periods. However, the odds are strongly against that. PCGS opened the floodgates with the PR70s. I'd guess 95% of the PR70s were during the loose period.

To me, all PR70s are tainted due to this.

The real PR70s are valued the same as the loose PR70s. I know someone will jump in and say that the real MS65 Morgans are valued the same as the loose MS65 Morgans. However, it's not the same. MS65 Morgans aren't artificially held off the market.

pontiacinf

sorry, but that floodgate was wide open for that gold peice...that break in color on the neck makes it look 68 to me.

and i dont believe its the pic

Russ

<< <i>The real PR70s are valued the same as the loose PR70s. >>



I have a hunch the real PR70s are staying in registry sets.

Russ, NCNE