PR70 DCAM coins

tompkins

David:
It was pointed out in a thread elsewhere on your site (Here, to be exact) that a large number of PR70DCAMs have come out of PCGS in the last few weeks. I know you spoke about this earlier (I recall you saying that some percentage of coins---maybe it was 1.5%---out of proof sets should probably be PR70). Is the recent surge in PR70's the result of an explicit policy change at PCGS? Or is there another explanation? Also, if the trend continues, can you speculate on the effect this might have on the premium paid for PR70 coins?

Thanks,

Pete

homerunhall

Two things have happened recently that may result in a few more 70s being "made."

First...business is booming. PCGS submissions are extremely strong...December is usually the slowest month of the year for us, but this is the best December in history...(As a side note, I feel this is an extremely bullish indicator for the rare coin market)...Modern submissions have been huge this month. Since we're grading a lot more modern coins, it stands to reason that a few more 70s will be made.

Second, we're trying very hard to "find the perfect coins" in each submission. It's my opinion that approximately 1% of all 1985 to date proofs submitted to us may qualify for the 70 grade. We're trying to use that 1% as a guide, but of course the most important arbitrator of quality is the coins themselves.

If a few more 70s appear on the market it will probably stimulate activity...supply is necessary to create demand. Some prices may come down a little, some prices may actually go up. My advice to everyone is to enjoy the action and have fun with your coins.