Question about PCGS submission tendencies of dealers

barrytrot

I was looking at another post, the $1,800 1999 Quarter and in reading the eBay description I wondered, "What are the submission tendencies of dealers?"

What I mean is:

Do dealers or other hoarders intentionally NOT submit stunning examples of coins for a year or even a couple of years in order to better churn out a profit on the lower pop coins that they already have?

Especially if there was some colusion between a number of dealers, this would have a potentially massive impact on keeping the coin prices high due to lower populations.

Am I wrong? Does this happen?

wondercoin

Barry: My response comes from the standpoint of someone who has yet to even purchase $1 worth of 2002 product from the mint this year and buys nearly all the modern coins I buy already slabbed (so I can't speak to what the submitters may or may not have in raw stock). But, I will say this - if these big submitters plan/tendencies was to keep prices strong while slowly submitting coins, they sure didn't reveal that tendency in 2002!!

Just looks at the 2002 pops. My sense of it was just the opposite - submit everything that is not bolted down and sell it before the next guy gets it in. And, that mentality created many common coins (like LA(p) state quarters in PCGS-MS68 that sell for around $35 today). On the other hand, it also helped show the much tougher coins, like a 2002(d) Jefferson nickel in MS67FS, which last I looked still had a pop 0, despite the tens of thouands of Mint sets that were carefully screened and "cherry-picked" from. For the pop 1/0 coin, I would happily pay $1000 for a 2002(d) Jefferson nickel in PCGS-MS67FS today sight-seen. Not because of the plastic, but because I now have a hunch just how scarce that nickel is in true superb gem MS67FS. Wondercoin.

bennybravo

<< <i>"What are the submission tendencies of dealers?" >>



Well, I'm not a master plastic maker by any means, but I did make a few MS67 State quarters a couple of years ago.My Method:

1.Buy alot of Mint Sets
2.Get a good high power loupe.
3.Send in the cleanest of the clean to PCGS.
4.Pray that they all at least make 67 to cover cost and provide a small profit, and that the grader is feeling especially generous enough that day to call one a 68 so you can sell it to a registry fiend and finance the purchase of something of value to you.
5.My results: 4 quarters sent, 4 67's, 2 halves sent, 1 at 67, 1 at 66.

It was more trouble that it was worth for me with only a tiny profit, but I can see the possibilities if you did it on a greater scale than I did.I don't think dealers are holding anything back though.$1800 for a 99 quarter is pretty ridiculous money for what it is.I can't see a modern grade rarity maker sitting there thinking "Well, they only made 348 million of these, so surely there can't be too many more than 3 MS68's out there.I think I'll hold off on sending this one in"

Lakesammman

The thought of dealers doing anything in a coordinated fashion is laughable! Agree with the above - each is looking out for their own best interests - no reason to hang one while the pops are growing daily - too much risk in doing so.

michael

submit/resubmit coins that you can get slabbed/upgraded to maximise their values and sell for more than you paid for them

nothing wrong with that they are dealers in the business to make money

just make sure that if you buy coins and are not looking to turn the coin for a quick profit that you make your decsisons wisely

sincerely michael

pontiacinf

My response to this has always been that they hold back (grading, not submissions) till they are worth that kinda money then the mudslide begins...Ive said this in the past only to get shot down by Mitchell...but proofs in da pudding...and I will continue to buy from Mitchell even though I choose not to agree with him.


(loosen the standard on the statehood proofs and on resub i bet My Mitch examples come back 70's