So, Just How Difficult Are PCGS-PR70DCAM Ikes These Days To Slab?

wondercoin

FIRST, LET ME STATE I HAVE -0- PCGS-PR70DCAM IKES TO SELL AND HAVE NOT HAD ANY FOR SALE ON MY WEBSITES FOR QUITE SOME TIME.

Many different modern proof coins series are seeing sizeable increases in their PCGS-PR70DCAM counts this year as some very large bulk deal have made their way through the system. But, I have noticed that PCGS continues to slab VERY FEW PR70DC Ikes. So, how difficult are Ikes to slab in PR70DC these days (during a time that PCGS is obviously searching very carefully to try to slab PR70DC coins).

Well, just last week, the results of a MAJOR effort to try to slab a PCGS-PR70DC 1971(s) Ike were provided to me. The current pop on the coin stands at 3,334 PCGS-PR69DC, covering all the coins slabbed of this date in PCGS' 16+ years of operation. THIS WEEK PCGS SLABBED ANOTHER ROUGHLY 3,200 PCGS-PR69DC COINS - NEARLY DOUBLING THE 16 YEAR OUTPUT IN ONE WEEK!!!!!!

ALONG WITH THE 3,200 PR69DC COINS FOR THIS DATE, PCGS SLABBED -0- PR70DC 1971(S) IKES!! Cost of coins and slabbing to try to make a PR70DC Ike of this date? Not totally sure, but, even at $8/coin for bulk grading and perhaps another $6 or $7 for the coins, you get dangerously close to $50,000 expended in the failed effort to slab a PR70DC!! And, this does not take into account all the coins that failed to slab at the minimum grade of PR69DC and needed to be purchased (and eventually sold) as well.

Watch for the pop in PR69DC to increase to nearly 6,500 within the next week for the 1971(s) Ike.

My personal research is showing that the Ike Dollar is quickly becoming one of the very toughest modern coin series to slab in PR70DC, especially under the "double verification" process instituted by PCGS a few years ago.

Wondercoin

kieferscoins

Did one dealer submit this many at one time? Do you know who did it? Were they trying for the 70DCAM exclusively or just submitted for the grading to sell the coins down the road?

Cameron Kiefer

wondercoin

Cameron: I really don't know intentions, etc., although I am confident the thought of slabbing a few PR70's out of multi-thousands of fresh coins must have crossed the submitter's mind at some point.

Wondercoin

jcping

I guess this means that someone will dump a few thousand 71-S PR69DCAM Ike dollars to the market soon

LindeDad

Dang and I just bought one a while back losing money again probably.

wondercoin

The price of PCGS-PR69DCAM Silver Ikes for 1971(s) were around $20-$25/coin before these fresh coins were slabbed. I've been wrong before, but, IMHO, I doubt these freshly graded coins will have much of an impact at all on the price of a $20 - $25/coin PR69DC Silver Ike coin. Where there might be a larger impact I believe is on the decision to submit 3,000-4,000 pieces the next time such an "opportunity" presents itself.

Wondercoin

sonofagunk

Well if the price stays at $20/coin and this guys has 3200 of them, isn't that $64K and he ended up making $14K? Seems like a nice profit to me (assuming he can actually sell them. Maybe the "coin vault" will handle the deal for him?)

alergar

Can't be easy, there's only 38 total by PCGS so far !!

segoja

Even if they make one..is it really worth the price difference?

I see they are hard to make, but I would challenge anyone to show me the difference between a PF69 and a PF70 coin besides the astronimical jump in price.

PF69 coins look pretty darn good to me, and if you take just a little bit of time to get a nice monster cameo in the Ike series (Which you can do with a little looking) you'll be better off in the long run.

Just MHO!

wondercoin

James: I hear you and, of course the same argument can be made with respect to MS67 Clad Ikes, MANY OF WHICH APPEAR TO BE INDISTINGUISHABLE FROM NICE MS66 COINS other than the 50x difference in price.

Now, there are MONSTER MS67 Clad Ikes that are what MS Ikes are all about - we both know them as soon as we see them. And, there are PR70DC Ikes that are "to die for" as well. They are simply amazing coins. Anytime you are in S CA., I will take you to lunch and personally show you one such coin

Wondercoin

Typetone

There you go again Mitch. I believe that the difference between a typical MS66 clad IKE and a typical MS67 clad IKE is much more significant than the difference between a PR69DCAM and a PR70DCAM. And, the proof price difference is much more than 50x. For a 71S the difference between $20 and $10,000 (would that be right for a real 70DCAM) is 500x.

Greg