THE POPS WILL BE GOING DOWN ON SOME COINS!
wondercoin
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I know of a collector who just turned in to PCGS 3,000 insert tags on mostly 20th century coins (a huge amount of these tags were on pre-1965 coins and many key date and high grade specimens). Keep an eye out to see which key coins actually DROP in pop! 
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roadrunner
Just a thought.
Paul.
Later, Paul.
peacockcoins
Separate and apart from this 3,000 tag hoard, I spoke to a well known Wash quarter dealer who told me he thought upwards of 1/3 (possibly even close to 1/2) of the total pop of 1955(d) quarters in MS66 was simply due to the crack outs trying to pull the pop 1/0 MS67 coins. Many of these MS66 tags have never seen PCGS. Exactly how many 1955(d) quarters in MS66 do not exist and are simply loose tags? Who knows, but, obviously more than just a few
Let's put it this way - there are a number of MS66 silver Wash quarter dates throughout the series I am buying in as large a quantity as I can locate because I believe they are far scarcer than the pops might suggest. I do sell them as well, especially when a collection comes in to me or is consigned to me (I have a 55(d) and 39(s) quarter on ebay right now in MS66). But, when "tag hoards" like this one go back to PCGS, it becomes very interesting to see which coins may be far scarcer than the pops might suggest.
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Pat: Yes, the line between "dealer" and "collector" surely vanishes when you turn in 3,000 tags, doesn't it!
Perhaps Craig (MANOFCOINS) can ask DH on Tuesday how long it takes before a hoard of tags such as this quantity make their way off the pop report.
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Mitch, could you see me crack out 3,000 like at the Long Baech buffet? That would be a huge pile and they would like me even less at the Hyatt - oh well!
bruce scher
Edited to add: I've been selling MS66 Washingtons on Ebay lately and getting pretty mediocre prices for them. I'm gonna stop doing THAT until this news shakes out. Thanks for letting us know, Mitch!!
Here's a warning parable for coin collectors...
scher, you are not being stupid but the dealer and many others are. I have asked the same for years. As time marchs on the pop charts are less and less reliable. PCGS has a service which has diminishing value. I dropped my PCGS memebership 2 years ago as the primary reason to join, the pop reports, became practically worthless to me.
As for 3000 tags turned in....do you really think PCGS will take the time to input all that data when they delay months for one tag? Imagine 10 tags a min. for a total of 300min. or 5 hours of inputting. I am assuming all tags have bar codes and can be scanned wth minimal keystrokes. Not a fun task.
I am not saying they won't do it but will take a long time especially siince they are already swamped.
My ears used to perk up when I heard the pop word, especially on classic, truly rare coins. No more. Case in point, look at the MS64-MS65 pop changes from Oct 2002 to Jul 2003 on 1858 Small Letter Flying Eagle. Every few months a new 65 is created and several 64s are created. Really? I had one major wholesaler show me 8 MS64 tags he claimed all from the same coin. The coin was very nice and a 65 but never made it. The 64s are way underpriced as everyone see the pops and assume there are plenty out there.
<< <i>THE POPS WILL BE GOING DOWN ON SOME COINS! >>
I'LL CERTAINLY BE HOLDING MY BREATH WAITING FOR THAT TO HAPPEN!
Russ, NCNE
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P.S. While I did note most of the tags will be 20th century, there will be a fair share of 19th century coins impacted as well. 3,000 tags is a heck of a lot of tags, especially as we are not talking about crack outs of lower grade material
Be my Santa and told to me that you saw a 1969 slab tagged as PR70DCAM.......
Edson
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mo <><
ps, hey mitch I think there are roughly 6 or 7 1955 D MS66 labels in there somewhere
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<< <i>I assume the tags are slowly working through the system at this time. I just got an email from a top Kennedy guy who just saw the 1964(d) pop drop from 26 to 24.
Wondercoin
P.S. While I did note most of the tags will be 20th century, there will be a fair share of 19th century coins impacted as well. 3,000 tags is a heck of a lot of tags, especially as we are not talking about crack outs of lower grade material >>
The Collector is ballsy too! Attempting to turn PCGS MS67 1964-D Kennedies into MS68 takes courage.
peacockcoins
importance on getting those tags off the pop report. There have been coins that I never did see
removed from the pops after I turned in the tags.
Wondercoin
year or so ago and the Roosie was the 59P in MS67. The pop at the time was 19, The lowest for the series.
I had cracked this dime hoping to get it in an NGC MS68 holder. It eventually went back into a PCGS MS67FB
holder. I watched the pop on that dime for 3 months after I turned in that tag and it never changed. It really
doesn't mater today.
Onlyroosies
Maybe PCGS doesn't see the importance of making sure the pop reports are totally accurate, but could the indifference on the part of PCGS be attributed, at least in part, to the fact that probabaly hundreds, if not thoursands, of the "modern" coins exist in superior grades because the owners think "why bother?" I persoanlly disregard modern pop reports because I know that many modern coins are out there in raw condition.
and listing this as a reason that they shouldn't be collected but like most all the real pro-
blems this affects the older coins to a larger extent. Ironically it's only a real problem be-
cause of the perception of market participants. The pops have no bearing whatsoever on
the availability of any raw or slabbed coin! If everyone were a pure collector there would
be no effect at all on price. Availability has no real effect on how people collect merely on
how they invest. Sure price has an effect but it is determined by the actual supply not the
pops.
<< <i>
Maybe PCGS doesn't see the importance of making sure the pop reports are totally accurate, but could the indifference on the part of PCGS be attributed, at least in part, to the fact that probabaly hundreds, if not thoursands, of the "modern" coins exist in superior grades because the owners think "why bother?" I persoanlly disregard modern pop reports because I know that many modern coins are out there in raw condition >>
I know NO ONE who accidently acquired large numbers of high grade moderns. In fact I've
only rarely seen more than a few of these at a time over the last few decades and each time
it was the result of diligent effort not mere chance. Even those few of us who have put great
effort into locating these coins for many years have no huge hordes which just aren't worth
getting graded. Most of those which haven't been graded are being held back for more high-
er prices. While the modern pops are going to go higher as time goes by it is not because the
coins are common or because the owners don't value the coins.
Remember early on? pcgs used to offer a reward of 50c for each tag turned in. At some point, they reneged on the bounty, saying that they were paying out thousands of dollars/month on tags (cry me a freaking river!)
At that time I was holding a few hundred tags to be turned in at the next major show , and felt angry that there was no pre-announcement of this change in policy and no grace period was offered (at least to my knowledge).
I just chalked it up to one of PCGS's reamings and turned the tags in and moved on, but some people really hold grudges.
and they're cold.
I don't want nobody to shoot me in the foxhole."
Mary
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edited to add the word "clad"
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I believe it is not in our favor when others (including market makers - for selfish reasons) hold back on sending the tags back to PCGS. For all the stupidity, and of course the 50 cents or so freebie from PCGS it does NOT help that PCGS is not in control of this issue as it is immensly important and used as a tool by many. LIkewise, I'd think it is totally not in their favor either to continue to drag their feet on this particular issue - although the damage is done I'm sure much can be done at this point to stop the bleed. A freakin 50 cents won't get many tags back
Marc
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