EBay sales

MrWarmaker

Sorry my first contribution to this board has to be a stupid question, but... I'm trying to figure out how these sellers are selling state quarters slabbed by PCGS at the prices they are. 65's and 66's at under $10 just doesn't add up to the cost involved in getting it graded. For that matter any of the new coins doesn't make sense to me. Are they getting some super duper price from PCGS?

relayer

The best price on bulk submissions is about $8 a coin I think.

No it's not profitable to sell for under $10, but if you throw enough quarters at PCGS, some will come back 67's and maybe a 68 or two.

Lucky to break even I'd guess

lordmarcovan

Submissions of modern coins are less expensive, and I believe there are volume discounts for large submissions. Maybe PCGS-authorized dealers get a break, too? I'm not really up to speed on the submissions game, being only a (very) occasional submitter.



Not a stupid question.

littlejohn

i not sure,but i been told that a PCGS-authorized dealers get to have them done for $5.00 a coin.
littlejohn

itsnotjustme

Welcome to the boards!

Answer is they went in expecting better grades! No one submits to lose money, but face it, when MS68s are all over the place it's hard to get much for a 65 or 66. That's why pre-screening and knowing the market is so important. Also, by date and mint for these. Some years are common as dirt in MS68, others bring a very nice price in MS67.

sliderider

That's what it is. Bulk submissions from rolls or mint sets. They can afford to sell the low grade pieces for the prices that they do because of the mass discount they get for doing so many submissions at once coupled with the huge profits they make on the high grade pieces that they get back. It really works out well for the collector of lower grade pieces, because it's cheaper to buy them already slabbed in that grade than it is to submit them yourself.

Baley

It really works out well for the collector of lower grade pieces, because it's cheaper to buy them already slabbed in that grade than it is to submit them yourself.

it works out even better for us collectors who pay 25 cents each for a nice coin from a roll.

MrWarmaker

Thanks for the answers, I was leaning towrds the mass submission idea. Thanks for the welcomes also, I'll go back to the corner now and lurk.

sliderider

<< <i>It really works out well for the collector of lower grade pieces, because it's cheaper to buy them already slabbed in that grade than it is to submit them yourself.

it works out even better for us collectors who pay 25 cents each for a nice coin from a roll. >>




But who knows what grade the coin is? Do most people know what to look for when they pull that one coin out and say "This is the one I'm going to keep."?? Can you tell the difference with your naked eye (most casual collectors don't own a loupe) between a 64-68?? If I want a coin in a certain grade, I'd rather know it has been expertly graded and buy it slabbed. A 50 states quarter in MS65 slabbed is cheap even at $10.

LikeMike

Thats not a stupid question, I was wondering the same thing. And to the forum! Mike

Baley

But who knows what grade the coin is? Do most people know what to look for when they pull that one coin out and say "This is the one I'm going to keep."?? Can you tell the difference with your naked eye (most casual collectors don't own a loupe) between a 64-68?? If I want a coin in a certain grade, I'd rather know it has been expertly graded and buy it slabbed. A 50 states quarter in MS65 slabbed is cheap even at $10.

oh, sliderider

stman

Baley, DUDE, you of all people should know it's all about the numbers. Come on man get with the program. And there is no sense keeping that State Quarter out of your roll. Because you'll NEVER know what the grade is. LOL

wam98

ibzman350

No such thing as a stupid question, anyway I've got the market cornered on stupid questions !!


Herb

earlwbollinger

Welcome to the boards.
basically they were doing mass submissions, in the hope or expectation of getting some extra high grade coins.
The ones that don't make it get sold off at below cost. It only takes a few hits at the high grade ones to make it all back.

my3cents

good question - I wanted to know that, too.

Welcome!