Who Cares?, You Decide: $5,000 for Plat Proof Bullion Coin

BaileyBoysplusMom

From the US Coin Forum, Swampfox inquires about a Proof Plat coin upgrade from PR69 to PR70 .

Is it worth it ?, lets look at an offer to buy and hear from the Registry Board members on Risk/Reward and decide!

First some facts and numbers for the $100 Plat Proof Series:

$5,000 offered for a $100 PCGS Plat Eagle PR70 in the years 1997 (currently Pop 1),1998 or 1999 (currently Pop 0).

Grade rate to date in the series, 1:117, total of 25 out of 2914 coins.
Grade rate last six months in the series, 1:36, total of 9 out of 322 coins. (Perhaps sharper eyes?)

$4000 to be made on lets say a $1,000 coin and a $12 submission fee.


Is it worth it?

Thanks
BBpM

earlwbollinger

Well, I think you'd have to use the more expensive service as a platinum coin is worth more than $300 dollars.
But I would agree that if you can get one slabbed as a PR70, it would likely be very worth it.

wondercoin

BBPM - The $100 Plats are neat coins - those proofs with the tiny mintages included. You are offering to pay $5,000 for a 1997-1999 PCGS-PR70DCAM specimen. Not too bad an OPENING offer

Wondercoin

wondercoin

"$4000 to be made on lets say a $1,000 coin and a $12 submission fee."

How about look at it this way - 1/90 coins grade 70. Each coin costs say $900+. So, start with $810,000. Spend (100) grading fees at $50/coin - after all you have $810,000 tied up Now, you have $815+k tied up. Now, make the (1) PR70 if it is your lucky day. Save $4,000 (FROM YOUR "GENEROUS" OFFER HERE) and all you have to do is sell 89 PR69 coins at break even and hope to accomplish all grading and sales within say 30 days, BECAUSE AT A CONSERVATIVE 6% PER YEAR RETURN ON CAPITAL, ONE EARNS $4,000 PER MONTH ON THE CAPITAL WITHOUT LIFTING A FINGER!!!!






Wondercoin

BaileyBoysplusMom

Wondercoin:

I give you the day, today; I corrected my greed from the US Coin Forum (swampfox thread) last night.

Since I have paid top $$$ this year for a Pop 1 $100 PR70, and recall having a similar conversation sometime ago about the Herculean effort to make another from scratch (assuming you can assemble the raw material to start), I do agree that $5,000 is "Not to bad an OPENING offer". In fact upon reflection, it is a bit low indeed.

As I recall in the thread, swampfox had some coin in 69 that might go 70, and was asking members "is it worth the investment (submission) to try?"

Thanks earlwbollinger for your reply.

So... thats why I buy my PR70's from the best source (a PA man) , and leave upgrading to those that can.

BBpM

wondercoin

BBpM- Of course, I am just kidding with you - your $5,000 open offer for (3) of the higher mintage coins in the entire $100 series in PR70DC is the highest offer thus far from the boards Not to mention, I agree with you that it could take a while before the series gets "hot" and is viewed by the masses as a "mainstream" serious low mintage series worth taking a close look at. Keep an eye out for the MS70 $100's in the series - despite the higher mintages, it is possible the MS70's become the "toughies".

Wondercoin

RegistryCoin

BBM. I think you are barking up the right tree.

RegistryCoin

(so not to edit) I am betting on the come line.

BaileyBoysplusMom

FYI

"serious low mintage series"

For any readers of this thread that may not want to attempt the Herculean effort to make one, or try the upgrade game...

I noticed quite a few PR70's on Teletrade Auction this Sunday,"PCGS Perfect Platinum Offering".


BBpM

RegistryCoin

Actually, it is very nice that nobody cares. As Lucy says: "More for me"