An example of a huge increase in a coin's value per the PCGS price sheets
oreville
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Take a look at the MS-64 and MS-65 prices of the 1798 small 8 dime.
The MS-65 price (which is for a pop 1 coin) shows an increase of 60% from $50,000 to $80,000 two days ago.
What happened?
An MS-64 in PCGS (pop 1) sold at the ANR Baltimore auction for over $74,000 in March 2006 so PCGS decided to list such MS-64 at the price of $50,000 which is a brand new price for that grade as no price was listed before. It raised the MS-65 price from $50,000 to $80,000.
This is an example of how prices can change very dramatically in less than a week. Yet, PCGS was quite conservative in listing a pop 1 coin which sold for over $74,000 at only $50,000 which may lead one to assume that PCGS is possibly also somewhat conservative and cautious in listing the MS-65 pop 1 coin at $80,000, just a few thousand dollars more than what the MS-64 just sold for. This is contrary to PCGS previous reputation for wildly overstating coin values.
But in all fairness, did the price really change in one week or was it a slow buildup over the years from the former $50,000 value? Hard to tell. Keep in mind that PCGS has listed the MS-65 price at $50,000 for 9 years in a row since 1997 without any change. In reality, it took a recognized auction sale for PCGS to recognize the change in the price of a coin in a specific grade and such change in irrefutable in light of the fact that both MS-64 and MS-65 grades are pop 1 coins each.
Just an interesting analysis of how sometimes prices can "appear" to change very dramatically in a week.
The MS-65 price (which is for a pop 1 coin) shows an increase of 60% from $50,000 to $80,000 two days ago.
What happened?
An MS-64 in PCGS (pop 1) sold at the ANR Baltimore auction for over $74,000 in March 2006 so PCGS decided to list such MS-64 at the price of $50,000 which is a brand new price for that grade as no price was listed before. It raised the MS-65 price from $50,000 to $80,000.
This is an example of how prices can change very dramatically in less than a week. Yet, PCGS was quite conservative in listing a pop 1 coin which sold for over $74,000 at only $50,000 which may lead one to assume that PCGS is possibly also somewhat conservative and cautious in listing the MS-65 pop 1 coin at $80,000, just a few thousand dollars more than what the MS-64 just sold for. This is contrary to PCGS previous reputation for wildly overstating coin values.
But in all fairness, did the price really change in one week or was it a slow buildup over the years from the former $50,000 value? Hard to tell. Keep in mind that PCGS has listed the MS-65 price at $50,000 for 9 years in a row since 1997 without any change. In reality, it took a recognized auction sale for PCGS to recognize the change in the price of a coin in a specific grade and such change in irrefutable in light of the fact that both MS-64 and MS-65 grades are pop 1 coins each.
Just an interesting analysis of how sometimes prices can "appear" to change very dramatically in a week.
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