An apparent lack of faith in MS70/PR70DCAM strength and an accidental keyword spam discovery!!
keets
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I was doing some searching at eBay and came across a Jefferson Nickel listing for a PR70DCAM example holdered by PCGS which had the usual high starting price and it made me think. Hey, I know that's a scary thought, but stay with me for a moment. It ocurred to me that whenever I see a PCGS "70" listing it's almost always accompanied by a high starting price, a high BIN or a reserve which ends being equally high. Why should that be?? Don't the sellers have any faith in the coins?? Well, I searched to satisfy my curious assumption and came up feeling satisfied that it's correct. Certainly these listing are only for a couple of sellers, but it's the same thing whenever these "perfect" coins are listed.
What strikes me is that it's either a collector who has paid the price to have the best or a submitter who has scored by beating the odds and getting a coin in the "70" holder who are the listers. With the coins at the link, I get the feeling that the guy who has coins that started at 99 cents is the dealer and the guy with the high BIN's is the collector, but it really doesn't matter. This is the ugly Modern secret, lack of faith in the collector willingness to pay the premium for these 70's, and the resulting inflated prices for these coins. If they were to start at 99 cents, there would no doubt be bidders who could determine the value of the one-point insert change as opposed to the ego driven black-eye that results when things play out as they inevitably do.
It's a shame, really. The few "70" coins that I've seen probably deserved the grade and couldn't be called dogs. They were certainly superior to the "69's" either in satin-softness for the MS issues or screaming b/w frost for the PR issues. In a nutshell, it isn't the higher grade that seems to be the problem with these, but rather the steep premium expected. The market seems to be shutout of determining value.
The accidental-keyword-spam-discovery is the 1956 T2 Franklin that's listed at the link. It's a beautiful DCAM but I guess the seller couldn't resist the urge to sucker us into seeing it with all the spam he added to the listing title. He should get some sort of boot for that, if not a 30 day NARU, then maybe in the kiester!!!
Al H.
What strikes me is that it's either a collector who has paid the price to have the best or a submitter who has scored by beating the odds and getting a coin in the "70" holder who are the listers. With the coins at the link, I get the feeling that the guy who has coins that started at 99 cents is the dealer and the guy with the high BIN's is the collector, but it really doesn't matter. This is the ugly Modern secret, lack of faith in the collector willingness to pay the premium for these 70's, and the resulting inflated prices for these coins. If they were to start at 99 cents, there would no doubt be bidders who could determine the value of the one-point insert change as opposed to the ego driven black-eye that results when things play out as they inevitably do.
It's a shame, really. The few "70" coins that I've seen probably deserved the grade and couldn't be called dogs. They were certainly superior to the "69's" either in satin-softness for the MS issues or screaming b/w frost for the PR issues. In a nutshell, it isn't the higher grade that seems to be the problem with these, but rather the steep premium expected. The market seems to be shutout of determining value.
The accidental-keyword-spam-discovery is the 1956 T2 Franklin that's listed at the link. It's a beautiful DCAM but I guess the seller couldn't resist the urge to sucker us into seeing it with all the spam he added to the listing title. He should get some sort of boot for that, if not a 30 day NARU, then maybe in the kiester!!!
Al H.
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Comments
The good news is the high starting out prices and the BINS' are coming down in price. What used to be $500. to $700. PCGS PR70DCAMS are now $300.00 coins, give or take.
I've never owned a PR70DCAM.
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