Have The PCGS PR70DCAM State Quarters Lost Some of Their Value??
tgilliams
Posts: 1,969
There seems to be a large increase in the number of Proof State Quarters being given the PR70DCAM designation by PCGS recently. While a good % of the increase is in the 2002-2003 coins, I've have seen increases in 1999-2001 coins as well. Current Population in 70DCAM's has risen from less than 25 coins to 117+ coins now residing in PCGS PR70DCAM Holders in less than 7 months.
I've also seen some softing in PCGS MS/PR 70's in the Modern Commemorative market as well. Example is the 2002-W West Point. Several moths ago the 70DCAM and MS70 were listed at $5,000 (no takers) and the MS70 at $1299. In the past few weeks the DCAM sold for $649 and DHRC had a BIN for the MS70 of $199.99. Is this trend widespread over several series or just a few?
About 6 or 7 months ago there were less than 25 coins so graced with the ultimate PR70DCAM Designation. I remember this because I was attempting to convince NGC that there scoring on this series is not correct (knew it was a loosing battle from the beginning).
I approached my plea by pointing out that NGC had given their PF70UCAM designation to 1,000+ coins and felt they were not taking into consideration the rarity of PCGS coins in 70DCAM. Of course, I lost that argument.
I'm seeing coins in this grade that commanded a $1,250+ price appears to be going down due the influx of 70's entering the market. Granted this is mostly happening on the current 2003 clad PR70DCAM's. But a drop is appers eminent. And what is the impact on owners of the pre 2003 PR70DCAM's? I would guess that owners of the $1,250+ they paid for these coins may take a big "paper hit".
Is anyone else noticing this change and have your findings been consistant with mine? I've been proven wrong before and never take it to heart if I'm incorrect about my assesment. Thanks to all of you for reading and commenting on this post. It's always a great learning experience getting feedback from the experienced and very knowledgable collector's and dealers on this and other forums,
I've also seen some softing in PCGS MS/PR 70's in the Modern Commemorative market as well. Example is the 2002-W West Point. Several moths ago the 70DCAM and MS70 were listed at $5,000 (no takers) and the MS70 at $1299. In the past few weeks the DCAM sold for $649 and DHRC had a BIN for the MS70 of $199.99. Is this trend widespread over several series or just a few?
About 6 or 7 months ago there were less than 25 coins so graced with the ultimate PR70DCAM Designation. I remember this because I was attempting to convince NGC that there scoring on this series is not correct (knew it was a loosing battle from the beginning).
I approached my plea by pointing out that NGC had given their PF70UCAM designation to 1,000+ coins and felt they were not taking into consideration the rarity of PCGS coins in 70DCAM. Of course, I lost that argument.
I'm seeing coins in this grade that commanded a $1,250+ price appears to be going down due the influx of 70's entering the market. Granted this is mostly happening on the current 2003 clad PR70DCAM's. But a drop is appers eminent. And what is the impact on owners of the pre 2003 PR70DCAM's? I would guess that owners of the $1,250+ they paid for these coins may take a big "paper hit".
Is anyone else noticing this change and have your findings been consistant with mine? I've been proven wrong before and never take it to heart if I'm incorrect about my assesment. Thanks to all of you for reading and commenting on this post. It's always a great learning experience getting feedback from the experienced and very knowledgable collector's and dealers on this and other forums,
PCGS sets under The Thomas Collections. Modern Commemoratives @ NGC under "One Coin at a Time". USMC Active 1966 thru 1970" The real War.
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When there were roughly 1/2 the current tally of PCGS-PR70's in the universe, the few 2002 PR70 coins I got in were priced, in the main, below $1250 (let alone the $2500+ figure mentioned above). Now, it appears (to me at least) the 2003 coins will be sub-$1000 coins AND THAT IS GREAT NEWS TO ME
Make no mistake about it that "monster DCAM+" flawless proof state quarters are wonderful coins. If and when the "grading gods" see fit to slab any of the 2003 PR70DCAM coins I submit, I am fairly confident the discussion will be how the coins are selling beneath $1000 now - again, where I personally believe the 2003 coins should be trading based upon the various reports of exceptional quality being put out by the Mint for the 2003 coinage.
And, of course, my comments here have nothing to do with earlier year coins. Anyone that slabs a Delaware PCGS-PR70DCAM - please PM me!!
Wondercoin
Regarding the "bubble", luckily I'm satisfied with my 45 PCGS Pr69DCAM's. I do own an NGC Rhode Island in PF70CAM, but paid 69 money for that coin!! Thanks to all for your contributions!!!
Always learning from the likes of Wondercoin and many others who participared.
TG: FYI, I sold (2) PCGS-PR70DCAM Silver State Quarters on ebay between $1000-$1250/coin back around February/March, 2003 (and several others to board members in that range as well). Also, if memory serves me right, Heritage sold a South Carolina PCGS-PR70DCAM silver in their last Signature auction for roughly $1250 plus the "juice". So, clearly, the premise that the 2002 quarters have fallen from $2500 to $1250 of late may be somewhat flawed. But, the general point of your thread is noteworthy - it is likely that 2003 PCGS-PR70DCAM clad state quarters will be trading at $1250 AND LOWER which is less than previous clad PR70DCAM coins have traded for in prior years.
Wondercoin