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$8,250 For a 1991 PCGS MS70 $5 Eagle, Is this Stupid $$ or Am I Out of Touch With Prices

tgilliamstgilliams Posts: 1,969
in PCGS Set Registry Forum
bid went from $5000 to $8000 in last few hours. thought the $5000 was way too much for a $5 eagle. is this another 1963 lincoln registry fever price or do you feel the bidder will ever get any where near $8200 for that coin if he tried to sell, from an experienced collector. winner had rating of 30 something, so he may have let inexperience drive his bid or am I totally out of touch and the coin is worth more than $8200? could buy 40 NGC 1991 MS70 $5 EAGLES for that price, does this coin command that much of a premium over PCGS? Would bet at least 2 or more would cross to PCGS 70.
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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    DabigkahunaDabigkahuna Posts: 3,419


    Here are some of my observations.

    I recently sold almost all of my MS70 Gold Eagles in a private transaction. Tax time and the soaring price for the MS70 Gold Eagles were the main reason I let them go. That and the fact I can't pay that kind of money just to compete. I had my time in the spot light and enjoyed every minute of having those number one sets.

    I think you would be extremely lucky if you were able to get one NGC MS70 to cross out of those 40. I have had a dealer tell me they have had some good luck crossing some NGC's but the slab numbers don't seem to bare this out. It seems to be about a 50/50 chance that the NGC MS69 coins will even cross at the same grade in my experience. After looking at dozens of NGC MS70's I find most of them will all have a fault visible with a 5x loupe.

    As far as the price goes all I can say is that I don't think the price is that out of line when compared to what some of the other population one or two MS70 have been realizing lately. A pop. two 1987 $25 sold for $6700 plus 15%, a 1986 $50 pop. one traded for $10,000.

    I am sure that there is some "registry fever" involved. The competition is not always listed. A good number of the Gold Eagles I have sold have gone into sets that are not registered.

    It's not surprising that there have been so many MS70's made lately, especially the 2003's since a dealer can still order as many as you want until the end of the year. The further back you go back on the dates, the more difficult it is to find fresh rolls.

    From what I understand, the recent glut of 70's 2003 eagles were all from dealer submissions and it looks to be that they averaged about one MS70 for every 150 MS69's that were graded. It is almost impossible to find that many raw coins in dates before 1998 worth submitting.

    Larry
    Dabigkahuna



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    tgilliamstgilliams Posts: 1,969
    Great Reply!! I learned a lot and stand corrected. thanks Dag
    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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    HigashiyamaHigashiyama Posts: 2,152 ✭✭✭✭✭
    "Is this Stupid $$ or Am I Out of Touch With Prices"

    Not necessarily an either/or situation, the answer could be affirmative to both questions.
    Higashiyama
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