Can anybody reassure me I didn’t buy $800 worth of plastic?

relayer

I was looking for a 1959 25c PR68DCAM for my registery set.

Being a cheap weasel I bid $418 for a NGC PR68DCAM that I figured was probably a 50/50 chance there would be absolutely no frost breaks and I could cross it over.

My snipe is in time, but too cheap

So 15 minutes later I snipe a PCGS PR68DCAM for $1224

The PR68DC 25c is a pop 27/0 (NGC is 24/0).

Does this seem like a case on being too cheap on a good coin and overpaying on the plastic?

Whitewashqtr

Cant believe the disparity between the 2 grading services prices. The NGC coin looked nice. Is the PCGS worth $800 more? I doubt it. The real prices probably lie somewhere in between. NGC coin proices are moving up closer to PCGS.. .whcih means demand for PCGS coins will be lower and therefore prices should come down. Econ 101.

BigE

relayer, a lot of people wanted that coin so if you wanted to sell it you should come close to break even or more. Maybe do a search on Tele and Heritage and check for prices realized on similar coins. Pop 27-you should be able to find one-------BigE

Placid

Probably the pcgs registry is the reason for the big price difference.

Only two other bidders once the coin went over $400.

supercoin

I guess it depends how much you like cameo. As you know that's a surprisingly tough date, and from the photos -- which are notoriously hard to judge for this -- the PCGS coin has better cameo. I don't think (again, from the photo) that particular NGC coin would make it into a PCGS DCAM holder.

zenny

Agree that the pcgs looks much more serious cameo from scans. You do have a 14 day return so there should be no sweating going on!
z

Loki

<< <i>NGC coin prices are moving up closer to PCGS.. .which means demand for PCGS coins will be lower and therefore prices should come down. Econ 101. >>

Nope, I cannot fully agree with that statement. PCGS coins with these levels of monetary disparity differences from similarly graded NGC coins can only mean one thing, Registflation! Unless PCGS allows NGC coins within the PCGS Registry Set realm (which will not happen according to DHall), there will continue to be huge disparitites in prices of pop-top specimins, even if NCG grades identically to PCGS. Registry Set 101.

Yes relayer, in answer to your thread question, you did buy at least $800 worth of plastic. More amazing than that, is that you could sell that same plastic right away for $1000 or more! So taken in that light, you did not overpay.

LucyBop

You bought a beautiful Gem, and never ever snipe Lucy on a Frankie!

goyankeez

It's hard to tell from the pictures the level of cameo contrast on the two coins. The NGC coin seems to have a weak reverse. It probably wouldn't cross to a DCAM based on that. The PCGS coin that you purchased looks to be a more solid example of a DCAM. So, is a DCAM worth $800 more than a CAM? If so, then it's a good buy. And of course you can return it after looking at it in person.

Again, the pics make it hard to judge.

relayer

I think the seller is sharp enough to have submitted it to PCGS if he thought it would cross over.

With his 14 day return policy I probably would have had enough time to submit it express service and find out.

Thinking back, I should have just emailed him and asked his opinion. He's a trustworthy seller.

IrishMike

The buyer for the NGC coin is a registry participant too. He probably feels he saved $800. As long as the registry continues to drive prices you should be ok.

DHeath

Based on the pics only, the NGC coin would cam at PCGS. If I was after a PCGS dcam, I wouldn't have purchased the first coin. Hope that helps.

dorkkarl

you got hosed.

K S

darktone

What will happen to the prices on these coins if for some reason the PCGS registry is no longer around? mike

Rotts

I concur with the dork..You got had.

Petescorner

How you guys can tell Cam from DCam from an ipix photo that looks like it was taken in a closet with a candle for illumination, is beyond me!

lathmach

Fads come and go.
There's been a quite a lot of different ones in the 45 years I've been collecting.
This high grade registry set modern coin business is just another fad that's going to go by the wayside, and when it does, all these high grade modern coins will bring pennies on the dollar.
Those that don't learn from the mistakes that others have made in the past, are doomed to repeat their mistakes.
I know this post will brings howls from the registry participants, but it's the truth.

Ray

Gilbert

Relayer,

Don't take offense 'cause this is JMO, but anyone willing to kick $1200 for a '59 proof quarter probably is paying a bit much just for the plastic; you did say "for my registry set".

Now, if you said, you've wanted this coin for something of a more personal nature (like a birth year set or you just love DCAMs or to place on your wall - something other than being competitive) then I couldn't argue with you if you spent five grand. But, then again, it could very well be my limited funds perspective speaking.

To clarify my perspective, there are some coins I desire but won't buy simply because I don't believe they should cost what they do.

buc

Here is another example of condition rarity. I watched this coin and there was more than a few people wanting this coin. The 1959 just doesn't come in this grade very often in the half, quarter, and dime. I think you bought a great coin. The NGC wouldn't cross IMO to PCGS.

DCAMFranklin

Dan- You are so right about trying to determine Cameo level with such poor scans/photos. The NGC coin had a scan only and it was placed flat on the scanning glass, at no angle, with no other light source and there is NO way you can adequately assess the Cameo level. The primary pic of the PCGS coin, with the holder label, is the exact same situation. It is a scan placed flat on the scanning glass, at no angle, with no other light source. Look at that and tell me it looks any better than the NGC coin!? It doesn't. Not until you see the digital photos with some good angles can you really assess the level of Cameo. I would bet the same would be true of the NGC coin.

Relayer- I'm just mad I didn't see the NGC coin. Oh well! My opinion is that NGC doesn't give away the UCAM grade on the difficult dates. The 1959 definitely qualifies. That isn't so with the easier dates of the 60's. I would be very surprised if there is much difference between the coins. It is not unusual for NGC to give a higher numerical grade than PCGS. The coin may well have gone 67 at PCGS. I think you made a good try at the NGC coin and may have saved some real money with a crackout. That didn't work out and no you own a real beauty! Great coin - be happy!

michael

buy the coin not the holder

sincerely michael

tjkillian

I agree with Lathmach, these moderns will be crashing down someday. Just don't buy any 18th or 19th century stuff, as that is what I collect.

Tom

keets

,,,,,,,,,,after looking at both scans i don't see a whole lot of difference in the two coins, although the NGC coin "reflects" a bit too much off the portrait. given that the seller---photographer---is the same, comparison of the pictures should have been reliable when you were making a decision. i've always considered that NGC is softer on the cameo designation and in that regard the PCGS coin is probably PQ by comparison. i doubt you'll be dissappointed.

one point i would consider with regards to any modern price crashes-----do the naysayers really study the issues and consider the true rarity of some of the mint product from the 50's-present? while prices may seem high for a coin such as this, and perhaps it's true that things will soften with the passage of time, it's an issue which has had sufficient oppurtunity to be looked at and have the choice coins certified. the result is a probable inflated pop 27 PCGS, with coins graded lower no doubt getting an extra look for the $$$$$$$ bump.

wishful thinking aside, value and demand of truly grade rare modern coinage is here to stay, IMHO. the key words being truly grade rare. for my money, the biggest change in the collecting hobby with the onset of grading services is that simple three word phrase.

al h.

wallstreetman

<< <i>I think the seller is sharp enough to have submitted it to PCGS if he thought it would cross over.

With his 14 day return policy I probably would have had enough time to submit it express service and find out.

Thinking back, I should have just emailed him and asked his opinion. He's a trustworthy seller. >>



You should have emailed him anyway, to see what his bottom price was, you may have got it cheaper!

wallstreetman

Lathmach, Those coins youve been buying are just a fad, when those people decide to switch to something else, youll lose your butt! Maybe all coins are inflated, how many of these new collectors will stay at it?

relayer

I'm going with the old saying, a coin in the PCGS holder is worth two in the raw.