How Many PCGS 70DCAMs Do You Want to Buy Now?

Typetone

Reading through all of King David's posts yesterday, I was struck by his view that about .5% to 2% of all modern proofs probably deserve the vaulted PCGS PR70DCAM designation. Assuming this view carries the day with the new grading regime, I think we can expect a lot more 70DCAM production. With that grade soon to be a possibility, I would suppose we would see many more proofs submitted with an explosion of new 69DCAMs as well.

Right now late date 70DCAMs trade for about $400 to well over $1,000 depending on the date and denomination. Also, as is widely thought, many of these are probably overgraded. I own 4 70DCAMs right now, and would like to buy a few more (assuming they are really 70s). However, now I am thinking it is worth waiting if new supply is on the way.

Question, do you think the new supply will materialize, and what impact will this have on the prices for these pieces?

DCAMFranklin

I would definitely wait. First I would have to SEE some coins being made PR70DCAM. Right now that is just verbal fluff.

BNE

Interesting question, and hard to say. The natural assumption is that price will go down, but sometimes supply creates demand. And if more are made, if might counter the impression that all the PR70s are overgraded "mistakes." It may end up being a wash. I think a slight depression in the price might result, but nothing drastic. If PCGS starts handing PR70s out like mad, it would not make the service look to good -- whipsawing on the standards like that. Expect a trickle, if anything (at least at first), not a flood.

Edited to add: ignore all the italics. I have no problem turning it on, but it never seems to want to turn off. . . .

TheNumish

I thought the same thing. In 1998 it seems like PCGS virtually stopped grading coins 70. There are a few being graded today but nothing like before that. I think that's the same time David Hall stopped being involved in grading at PCGS. Now that he's getting involved again are we going to see a big increase in coins graded 70? It'll be interesting to see what happens. Another question is what was Rick Montgomery's influence on how many coins graded 70. Maybe he was anti-70 and now that he is gone more coins will grade 70.

gmarguli

The idea of more PR70s is great. It's probably the easiest way to tell if David Hall was just giving some BS line to all of us or if he is going to start to actually make changes at PCGS.

All we have to do is check the pop reports. No new PR70s, all BS. New PR70s, perhaps a change at PCGS.

This is a change that shouldn't take more than a few weeks to confirm/deny.

Cameo CC

I don't know how many PR70 DCAM's we will see in the near future, but think PCGS will be slow to make them. Putting to much on the market at once will kill the 70 market and what does that do to the value of the existing PR70 DCAM. Just look at the 2002 $1 MS70 West Point Silver Commemorative.

Todd

Russ

If there are genuine 70s to be graded, than the impact on the market should not be relevant to the decision.

Russ, NCNE

DAM

I was looking at a dealers site a while ago and jotted a couple of prices down for reference.

78S Kennedy PR69DCAM $55
PR70DCAM $790

93S Kennedy PR69DCAM $32
PR70DCAM $850

That exact thought entered my mind. Do I look to buy, or wait.

I'll wait until supply drives down price.

robertpr

<< <i>Edited to add: ignore all the italics. I have no problem turning it on, but it never seems to want to turn off. . . . >>


Just add [ / I ] to turn it off (with no spaces between the brackets, the slash, or the I)

FrattLaw

Another member was offering PR70s for sale, but based upon price I'm not that willing to put that much money into a PCGS slab right now. With CU as unstable as it is, I understand they're about to do a 5 to 1 reverse stock split, I'm a little worried about the long term potential especially with NGC on its tail.

I think NGC 70s are a great buy right now. I've picked up 2 PR70 SBA for under a $100 each. Upside is strong and even if they tank they still probably worth 69 money.

Granted NGC 70s don't look like 70s but neither does PCGS 70s. Matter of fact a few of the 70 Ikes I've been told probably wouldn't even make it into a 69 holder by todays shifting grading standards @ PCGS.

I didn't actually read DHalls comments on 70s, but does anyone else think this might be a little PR and ploy by PCGS to get all of us holding back submissions to start sending them again.

Michael

MW Fattorosi Collection

BSqr

FYI - Teletrade has a 1995 gold $5 Stadium PR70DCAM up for auction on Mon. the 18th

relayer

None.

I'm down to just one PR70DCAM now after selling the 9 I had. And I got good prices for them too so I guess demand is growing and since I just sold that means the price can only go up

One I sold was a 1996-D Jefferson pop 11 for $425 and I was thinking that was an outrageous price to pay for a nickel minted 6 years ago. A rare coin indeed - Just because PCGS sealed it in plastic with a PR70DCAM label on it - well that is rare.

crito

If PCGS starts handing out PR70's again, I'll start sending coins to ANACS.