Why collect 70s?

RegistryCoin

I had a classic set or two. One was the complete 144-piece HOF classic commem. set, but I decided to sell it when I saw blanket grade-flation causing a fine set of pop top 66, 7 and 8's newly requiring crack-out/upgrades (lots of money) to maintain registry position. Therefore I turned to the 70s. Here, there is no grade-flation, cracking-out, upgrading problems or the like, making collecting much more enjoyable. 70s stand on their own, with no discussion of ie., "it's a 7.9 in an 8 holder", "buy, crack-out & submit multiple times for upgrade", "it's in a green holder, must upgrade, maybe two points", etc. Collecting 70s is simple and relaxing. With some research, one will find that some modern series offer 70s rather rarely, and in some series, 70s, although graded, simply cannot be located for purchase.
I like their look. I like their future. I like 'em.
Hit "Registrant's Other Sets"

RegistryCoin

I was PMd about this. Here is an edited part of my response:

I just collect "bullion" 70s. You will be surprised at the numbers. Check the percentage of 70s vs 69s, and the percentage of 70s vs all coins graded, for a particular coin, as compared to other series. Some plat. and gold bullion examples have grade-through rates well under 1%. These coins, also, are not submitted like most others. Just imagine bulk-submitting $100 Plats, costing about $800 ea. from the mint...

wondercoin

"Just imagine bulk-submitting $100 Plats, costing about $800 ea. from the mint... "

Steve: Actually, at $865/oz. Platinum with (what I believe to be) a wholesale raw basis of around 4%-5% above that figure, you are looking at around $450,000.00 up front cost to bulk grade an unopened Mint Sealed box of $100 MS Plats (not to mention the $1000's and $1,000's of grading fees involved). I had the pleasure of "breaking the lock" on such a 500 ct. box of the MS 2003 $100 Plats in 2004 just prior to the box being submitted to PCGS. As you mentioned, coins such as that one generally grade out well under 1% "PCGS perfect" due to planchet defects, marks on high points, etc. With a worldwide mintage of approx. 8,007 coins for that date (as compared to, say, millions of silver eagles for example for most dates), all modern "precious metal" collecting is obviously not all the same.

And, if that worldwide mintage of a scant 8,007 wasn't low enough for the 2003 MS $100 Plat eagles (outdoing the 2002 mintage of just 10,000 coins), the Mint outdid itself the following year with a worldwide mintage of roughly 7,000 coins for the 2004 (compare the mintage of 133,000 $100 Plats in 1998 in the early years of the platinum program)! I wonder what 2005 mintages will bring

Wondercoin

RegistryCoin

OK, $100 Plat 70s are rare. What about the others?
I may be going out on a limb here but, one will find in some bullion series that the total number of pcgs 70s graded, minus 70s registered, equals a suprisingly large number.
For example, in the $10 Proof Plats there are 268 pr70s graded, but just 31 are registered.
Where are the almost 240 others?
In the $10 MS Plats, there are about 176 70s, but only 27 are registered.
Where are about 150 others?
As in the $100 plats, but not to that unfathomable level, bulk submission of bullion is not available financially to but a few.
I am sure that those who do submit bulk amounts of plat. (and dealers), do not hold their slabs for any length of time. There is just too much money tied up for that.
For some reason, it seems to me that most 70s have been sold to an "alien" market, to collectors totally unaware of the registry.
This means for registrants, that these coins are essentially unavailable, may never hit the registry, or, for that matter, may very rarely be re-sold.
My conclusion is that some 70s are going to be very, very hard to obtain.

BaileyBoysplusMom

I'm glad I caught this thread,

Steve:

Congratulations on the acquisition of the Plat MS70's( 2000, $25 & 1997, $50) for your collection.

I believe you will be rewarded nicely in the Plat MS70's, especially in the Plat years prior to 2003. My jury is still out on the Plat proofs until the demand side has a large surge.

I do agree that the 70's are the only way to go in the Plats.

In the lower denominations, I know some folks that have located and purchased sealed mint boxes and do submit coins over time to try and make the MS70's.

Of course, the higher the denomination the bigger the $$$ to play that game, although I suppose rolls do show up here and there.

I had an Investment Banking firm search some depositories late last year for sealed mint boxes ($100 denominations) in the early years to try to make some coins for my collection. The only boxes located (1998 year) had been opened and the coins counted several times. Of course, I had already paid a nice sum for a 1998 and had little desire to make another.

Anyway, best of luck with the Eagles, Plats and Gold!

Scott

RegistryCoin

<< <i>Anyway, best of luck with the Eagles, Plats and Gold! >>


Thank you Scott.
I hear that a lot of the original uncirculated plat. is being used to "back" financial instruments. Are these the coins that you mention, and are they counted/recounted regularly (making this portion of the mintage essentially circulated)?
I like 'em!

egsantos

Hi Steve,

Now that you began a new romance, remember that when you will be bored with the old Ikes, mainly with to 1973, I am here.

Seriously, Congratulations.

Edson

dbldie55

I think people should collect what they like and not worry about what others collect.

RegistryCoin

Thank you Edson.
DD, I agree. I like that the old fuddy-duddies stick to their guns.
But putting down other's collecting choices, just to bolster one's own stance, isn't very manly.
I just worry about grade-flation impacting the non-70 collectors...

dbldie55

I guess people that collect numbers on holders need to worry about gradeflation. Those that collect coins should be fine.

RegistryCoin

I think that this is the neat thing about collecting the 70s. I do collect the numbers, but only 70s. I think it's the best of both worlds, so to speak - The nicest coins, certified, still able to play the reg. game, but not open to the problems and risks therein, ie., costs of up-grading, grade-flation, etc.

pf70collector

I collect only 70's in silver, gold and platinum bullion, though none of them are in any registries. 70's are the only way to go as far as my collecting habits go, which also includes modern gold and silver commemortatives especially the key dates.

BaileyBoysplusMom

Steve:

There are lots of opinions out there on where the early Plat is located and how much of it exists today, Plat collectors could have a long discussion on that subject, actually a very interesting one at that.

IMHO, I've investigated the "Life Cycle" of the MS $100 Plats to some degree (there are differences versus the lower denominations) and I'll answer your first question (with respect to the 100's) that some boxes (500 oz) are held to "back" financial instruments, and if they have changed hands, in all probably, they have been counted.

In such cases, I consider them circulated to the degree that they are handled and the early Plats (pre-2004 Reverse Proof strikes) appear to mark fairly easy etc.

Which makes collecting the 70's in the pre-2004 Plats an interesting game, IMHO.


dbldie55:

How about acquiring an "eye" for the series one collects and finding the "Top Coin" or "Gems" , basically the finest known specimens for that series, as a hedge against the grade-flation Steve mentions?

Even a step farther... in the series I collect ($100 Plats), I strive to acquire the "Top Coin" of the 70's that I can locate.

I've even gone to the trouble of searching for sealed mint boxes( that may or may not exist) in far off places, to find that coin raw.

But... it is a quest where only my $$$ are at risk.

BBpM.