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Smoe Coin Dealers are SOOOO Fulla Crap

BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭
in U.S. Coin Forum
Was at a local show most of this past weekend. Happened to be talking with one gent [who BTW is probly NOT internet savvy] and mentioned the return of the 13,000+ inserts and how it would affect the pop reports on some coins. This guy says that PCGS is just gonna throw those things into the garbage dumpster. Does he really believe that? Do smoe dealers really think they have the inside skinny on what goes on at PCGS? With thousands of collectors now watchin the pop reports like a hawk I'm pretty sure that PCGS will be goin thru those inserts and makin the proper adjustments.
I had my Morgan set on display for the benefit of the hordes of Morgan collectors who mite never get a chance to see a full set in one place. I did hear a comment from one gent who says his dad has a 93-s in 66 or 67 or even better. Yeah right!! Does anyone think that there could be one of that quality salted away that someone doesn't know about?
theknowitalltroll;

Comments

  • saintgurusaintguru Posts: 7,724 ✭✭✭
    EVERY insert will be removed from the POP reports! I have already seen the 1931 ms64 Saints drop from 50 to 38, and the 1908-S ms64 from 43 to 23!!! That's isn't chickenfeed, and I'd guess that these are just the coded inserts...the non coded wiill take longer...NOT to mention that there are a few other dealers with the same size hoards that will be under the gunn of Hall to do the same or be "outed"!image
    image
  • tradedollarnuttradedollarnut Posts: 20,162 ✭✭✭✭✭
    Yeah right!! Does anyone think that there could be one of that quality salted away that someone doesn't know about?

    You mean like the Vermuele specimen - which appeared fresh to the market a few years ago and was graded PCGS MS67?
    Early Dollar Set
  • dimplesdimples Posts: 1,286 ✭✭✭
    Congrats on displaying that fine set of morgans of yours. Could you give us some details on the experience from your point of view. I'm sure quite a few of us would be interested.

    Big show or small show ?

    Did you buy a table to display it or share a dealers table?

    Type of case used to display and where did you get it.

    comments from the coin GEEKS?


    image

    Just being nosy Tom. THANKS!
  • morgannut2morgannut2 Posts: 4,293 ✭
    Yes TDN is right. I had the same thought--who WAS his grandfather? The previously unknown C. Vermeule III 1893S surfaced at the Stacks Sale in Sept. 2001 and I think was already certified as a MS-67 matching the only other one (Norweb). The example seems to have the characteristic Vermeule tissue paper toning which in this case is not that attractive to my eyes. If memory serves me, the last time unknown unc. 1893S Morgans showed up were in a bag of 1894P's in Montana; they weren't higher grade and numbered around 20. Nevertheless, if you want the rarest and best of the Morgan's it's lot 420 at ANR's Sale March 8-9 in Baltimore Maryland. Like the 1804 PR Dollars, I'm just going to be happy with a close examination presale!image
    morgannut2
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭
    Had a 2 day show; there were about 50 tables. I shared a table with the club prez and had two borrowed cases; table space was free since I wasn't selling.. Did get to briefly meet fellow forumite Steve Elwood; a pleasant chap for sure. Had lots of nice comments on the coins; esp the 89-cc and the 81-s 84 and 84-o toners. The 89-cc was from a fellow board member as was the 81-s and the 84. Kinda had one dealer raggin a bit to sell the 93-s to him. Had a few others interested in that as well. Most popular comment was "When I win the lottery" image
    Had two of the low leaf PCGS ms64 Wis quarters out too. Probly the only two in the state. Lots of curiosity about those. Dint see anyone whip out a few C notes and ask if they were for sale. One gent had a bunch of Iowa P's where George has a zit on his nose. Mite be an interesting new variety there too.
    More comments later.
    theknowitalltroll;
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭
    Yeah right!! Does anyone think that there could be one of that quality salted away that someone doesn't know about?

    You mean like the Vermuele specimen - which appeared fresh to the market a few years ago and was graded PCGS MS67?

    Actually I was thinking more about around this area. IMO not likely but you never know. Another former shop owner once told me that he has a full set in 63.
    theknowitalltroll;
  • indianabyronindianabyron Posts: 1,023
    Ok if they drop the pop numbers. Does that also mean that the value assigned as such will increase???? Since the value is tied directly into the pop count???

    HMMMM maybe sounds very likely some people will be making some money very soon with decreased pop counts.


    Byron
    Im unemployed again after 1.5 years with Kittyhawk they let me go. image

    My first YOU SUCK on May 6 2005
  • lloydmincylloydmincy Posts: 1,861 ✭
    Yeah right!!! a coin that nice salted away for years....

    Happens more often than it seems it possibly could. What about the 1849-C "Open Wreath" Gold Dollar that was added to Richmond I in summer, 2004?? NEW DISCOVERY ON A MONSTER LIKE THAT? There may be many more out there. Remember, this slabbing of coins is still very young. The "Old School" collectors might not even know who PCGS and NGC IS!!!! Maybe not MANY more still in hiding, but some none-the-less.

    ----Lloyd
    The Accumulator - Dark Lloyd of the Sith

    image
  • saintgurusaintguru Posts: 7,724 ✭✭✭
    what's goin on LLoyd? image
    image
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭
    I heard any number of elderly collectors talk about getting their sets certified. One old gent looked a lot of mine over pretty carefully trying to figure what PCGS would do for his. I think he was doing some estate planning too.
    theknowitalltroll;
  • mr3holesinonemr3holesinone Posts: 444
    It would be rather presumptuous to assume that there aren't quality, rare coins that aren't slabbed yet. There are probably safe deposit boxes full of collections where the owner has died or heirs haven't gone through their inheritance to know what they have. You also have to consider that there are a lot of long time collectors who do not bother with slabbing. A lot of these types of collections could pass on without being slabbed for a long time.
    Holes-in-One
    1. 7-17-81 Warrenton GC Driver 310 yards 7th Hole (Par 4)
    2. 5-22-99 Warrenton GC 6 iron 189 yards 10th Hole
    3. 7-23-99 Oak Meadow CC 5 iron 180 yards 17th Hole
    4. 9-19-99 Country Lake GC 6 iron 164 yards 15th Hole
    5. 8-30-09 Country Lake GC Driver 258 yards 17th Hole (Par 4)

    Collector of Barber Halves, Commems, MS64FBL Frankies, Full Step Jeffersons & Mint state Washington Quarters
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭
    Well in this particular case the person said that when his father passes on that his siblings have told him that the coin will be his and that the first thing that he will do is send it off to be certified. I wonder if they would say that if they knew the coin had the potential to be worth a million dollars. image The same dealer who made the comment about the inserts also said that he has seen more 93-s coins in 65 than you can shake a stick at. Yeah right again unless he was talking about 1993-s Lincoln cents. The reason for my pessimism is that the known quantity of MS 93-s dollars is put at less than 50. Another dealer here a couple years ago claims to have picked up 3 93-s in ms63 out in Washington state years ago from someone who dint know what they had. A coworker says that his grandmother has a 1901 that a dealer offered $60K for 10 or 12 years ago. When he brought in some of grand dad's other Morgans it was common circ stuff. I will believe it when I see it.
    theknowitalltroll;
  • 2ndCharter2ndCharter Posts: 1,656 ✭✭✭✭✭
    I've been hearing those great stories about so-and-so's alleged "collection" for years - one of my favorites was the guy who said he had a roll of $50 gold slugs at home. So, every time I hear another one of those claims, I whip a hundred dollars out of the wallet and say "just show it to me, you don't have to sell it, just show it to me any time and this is yours!". After many years of making that offer, I still haven't spent the hundred dollars.

    Member ANA, SPMC, SCNA, FUN, CONECA

  • kieferscoinskieferscoins Posts: 10,017 ✭


    << <i>I've been hearing those great stories about so-and-so's alleged "collection" for years - one of my favorites was the guy who said he had a roll of $50 gold slugs at home. So, every time I hear another one of those claims, I whip a hundred dollars out of the wallet and say "just show it to me, you don't have to sell it, just show it to me any time and this is yours!". After many years of making that offer, I still haven't spent the hundred dollars. >>



    So true. 1 out of 100 stories like this end up to be true.

    Cameron Kiefer
  • cohodkcohodk Posts: 19,114 ✭✭✭✭✭
    While not on the scale of the great rarities, I recently purchased an old time collection and made a top-pop proof seated 1/2 dime and a top-pop proof 3cs. These coins hadnt seen the light of day in 30 yrs. There are other great coins out there.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • TerrapinWillTerrapinWill Posts: 848
    "The Edge... there is no honest way to explain it because the only people who really know where it is are the ones who have gone over."
    Hunter S. Thompson 1937-2005
    Text

    "when the going gets weird, the weird turn pro."
    _Hunter S. Thompson
  • lloydmincylloydmincy Posts: 1,861 ✭
    Just like the other 1933 double eagles out there. (yeah right, show me. I would pay $1000 to see another one). But I do believe there are many biggies not slabbed/seen yet. Stacks always seems to get a lot of coins not slabbed. They recently offered a 1907 Double Eagle ULTRA HIGH RELIEF, that was CIRCULATED and WORN!!!!
    The Accumulator - Dark Lloyd of the Sith

    image

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