It's official! PCGS has loosened up..Ton's of MS70's?
Buffchips
Posts: 14
Just got a very nice two page glossy flyer from DHRC offering complete, 2003, four coin Gold Eagle sets in MS70.
Priced at $7,950.00 per set, DHRC is obviously very proud of their GE MS70's and it would seem that they have a good inventory to be doing a mailing of this nature. It's not like I'm a preferred customer having only purchased one $120.00 coin from Mr. Hall just a few months ago. Granted you don't have to sell many of these to cover the cost of the mailing but if a schlep like me gets a mailing like this, these flyers must be going out to lots of people. Soooo, how many of these sets do they have and just how loose did they get on the grading?
Buffchips
Priced at $7,950.00 per set, DHRC is obviously very proud of their GE MS70's and it would seem that they have a good inventory to be doing a mailing of this nature. It's not like I'm a preferred customer having only purchased one $120.00 coin from Mr. Hall just a few months ago. Granted you don't have to sell many of these to cover the cost of the mailing but if a schlep like me gets a mailing like this, these flyers must be going out to lots of people. Soooo, how many of these sets do they have and just how loose did they get on the grading?
Buffchips
0
Comments
I can't speak for how loose PCGS is the 70's although it seems obvious they are giving out the grade finally. I did however purchase a set of the 2003 MS70 GAE's a few weeks ago from DHRC. They are every bit as nice if not better then any PCGS MS70 that I own. Beautiful coins with razor sharp strikes and a nice frosty finish.
I got the same flyer yesterday and I can't help but wonder just how many of these 2003 70's there are? The raw ones I have bought are among the best struck eagles I have seen yet so that may explain some of the increase especially for the 2003 date.
It's 50 days and counting now on my submission so I have no idea if I will make a 70 or not. The thing that disturbs me is that there must be a slug of these 2003 70's for DHRC to be able to make an offering like that but there is no way to tell what the current population is and that is one of the big factors in pricing them. Besides the flyer I also saw several on Ebay when you rarely see them at all.
Larry
Dabigkahuna
Wondercoin
Just to find out what was going on I checked the pops and surprise, surprise, PCGS has not recorded any 2003 Gold Eagle Pops.
Anyone else smell something fishy here or is it just that Newport Beach had a recent fish kill?
Brian.
Thanks for the pop report FatMan. I'm not surprised at the #'s? Or the lack of #'s. My guess is they won't post until the flyer has some time to run.
Please keep in mind that these are complete sets, not just the one ounce coins...it's 70's in all the denominations. Sorry, that's just way over the top average wise.
Buffchips
well for me buy the coin and not the holder!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
ask yourself if you sold this holdered ms70 coin what could you sell it for?? and........
if you crack this coin out of its holder what is it worth raw if you sold it tomorrow
if the price difference betweeb the two is huge then this should tell you something but i guess it is your money and your decsison
i hope you make the right one!
but after all is said and done buy what makes you happy
and only buy with discretionary funds
and for fun and collecting
sincerely michael
09/07/2006
<< <i>Anyone else smell something fishy here or is it just that Newport Beach had a recent fish kill? >>
Nope.....This is stinking all the way down here in Houston. Wise up folks!
--------
Howdy from Houston...
Can't keep my eyes
from the circling skies
Tongue tied and twisted
Just an earthbound misfit,
I
">my registry set
President, Racine Numismatic Society 2013-2014; Variety Resource Dimes; See 6/8/12 CDN for my article on Winged Liberty Dimes; Ebay
-KHayse
Better to buy sets from the mint and pick out the nicest pieces for yourself.
Most of the people who are making money on 70 slabs that happen to have a coin in them are coin dealers and collectors who submitted them raw for grading and got lucky then turned right around and sold them to some one else for a profit.
I know there are a few of you that think my intent here is to knock moderns, i have no way to prove to you whats in my heart or intent other than to tell you and let you draw your own conclusions. If a modern coin is worth 4 or 5 figures only because it has a 70 on the slab, can you look at a 69 and tell the difference [i certainly can't] when you buy a pregraded m.s. 70 coin what is your intent? If it's pure collecting enjoyment and you could care less about the price or what it might be worth in a few years then by all means go for it. If you have money to burn and the 70 on the slab appeals to you by all means go for it. If you don't have money to burn and do care to at least hold on to most of your moneys worth even if making a profit isn't a concern than you can get very pretty moderns from the mint at very affordable prices or buy someone elses very pretty slab 69 with not much mark up for a fraction of the cost. I know i'm going to be ignored or flamed by some die hard 70 slab collectors but your not the folks i'm trying to speak to here so flame away. Those people who know me know how much i love this hobby and what i think of those who take advantage of inexperienced collectors for profit.
Are there some truely rare moderns, yes. And modern collecting is an important part of the hobby, but there are many people diving wallet first into 70 slabs that happen to have a coin inside. Les
David Hall R.C. does buy coins on the open market and doesn't grade them. I've heard through the grapevine that they buy all the MS-70 coins Hans Tulving gets. Have no idea if that's true but lets say it is. Lets say Han Tulving has graded 10,000 gold eagles of different denominations and PCGS is giving MS-70 grades. It makes sense that David Hall would get enough coins to be able to promote them.
Seems crazy to me to spend that much on a coin where for all practical purposes a nice MS-69 is no different than a MS-70. I'd like to pick out 5 nice MS-69 coins and one MS-70 and see if the great Mr. Hall and his graders would be able to pick it out with any certainty the MS-70.
If for some reason you just have to have MS-70 coins go with NGC. I can sell you a set of 2003 MS-70 gold eagles for $1,350. Still a little over double melt but a lot better than $7,950.
Brian
I hate it when you see my post before I can edit the spelling.
Always looking for nice type coins
my local dealer
And it was minted days and days ago.
Amazing how a state of preservation can last so long...
As far as being graded MS70, I have no qualms with that. Personally, I think most of the AE series should be in and around 69 and 70. Any less would be disappointing, from a modern minting standpoint, particularly for gold.
Regarding "up to date" pop numbers; I can only laugh if anyone expects it to ever be current. Took 4 or 5 emails and a couple to three months to get a "certificate number" removed from their database.
If we could get them in a registry set we could see the pops. Cert numbers are in the flyer, but cert number lookup does not give the pop.