How Many Bought a GW Plain Edge @ $200+ ??

ChuckC

I did, and boy do I regret it!!!!!!!!!!!!

I rode the hype and watched as the price jumped to over $1,000/ea in one day. I was glad to have bought one for $200 earlier that morning (March 8th I believe). Now I'm seeing slabbed GW smoothies come in under $100 and raw smoothies below $50! I'm just glad I bought a couple SAE sets at original to make up for my gamble.

Zoins

Yep, diversification in investments and speculations can reduce overall risk.

Good job on the ASEs.

N8

Yeah a lot of predictions made on the forum called for anywhere between $25 and $50 around this time. But hey if you got the means its worth it sometimes to gamble.

WinPitcher

Most times it is not a good buy when you buy into the hype and at a market high.

That was one of the times.


Steve

57loaded

diversification and dollar cost averaging......

my wife doesn't understand the concept, so it gets me thorugh the Q & A when "stuff" shows up and she wants to know what is going on. I always come back to the SAE sets and 2006-W ASE "Investments"

Loaded

ps no, i didn't buy any singles but sure watched it zoom up and down. i think some of the fraud/fakes that have surfaced have really hampered the raw smooth edge sales on eBay. i do have a (hopefully) loaded brick of washingtons with a favorable CWI wrap date and location that I paid a pretty premium for so, count me in, in a slighlty different way. I am just thinking that most of that wrap made it's way to FL areas and not anywhere else.

dthigpen

I have a feeling a lot of the same people who bought Uncirculated Platinum Bullion last year.

lasvegasteddy

not me even if they drop to a dollah

TwoSides2aCoin

I bought one slabbed in MS65 well under that.... Just cuz it's a board member who's launched a numismatic career. You know who you are, so thanks

Hype does not make fruit any more ripe than when it first falls off the tree.

mach19

<< <i>not me even if they drop to a dollah >>




Ditto

FLBuffaloHunter

Messeydesk is selling his 2007-D PCGS MS66 First Day Of Issue Washington Dollar with no edge lettering here. It is one of the 3 he received from his GW FDI submission. Apparently, PCGS did not catch that the coins had no edge lettering so it does not indicate such on the holder. This is the finest known and only 1 of 3 GW FDI coins with no edge lettering and mint origin known to exist. The bidding is over $900 with 5 days left.

Zoins

<< <i>Messeydesk is selling his 2007-D PCGS MS66 First Day Of Issue Washington Dollar with no edge lettering here. It is one of the 3 he received from his GW FDI submission. Apparently, PCGS did not catch that the coins had no edge lettering so it does not indicate such on the holder. This is the finest known and only 1 of 3 GW FDI coins with no edge lettering and mint origin known to exist. The bidding is over $900 with 5 days left. >>

That means we can add one more person to the $200+ club soon

FLBuffaloHunter

<< <i>That means we can add one more person to the $200+ club soon >>


Yes, but this smoothie is unique that there is only one known to exist in a FDI MS66 and with the mint origin known

theump

Remember when someone was offering regular FDI PCGS 66 (not error) for $110 a set for P+D coins? He had 95 sets until a message was posted here that the coins were for sale. Prolly within 90 minutes they were all coin. There was a huuuuuuge discussion if we would ever see the coins. Well the seller made good on all his deliveries, and I happily sold my two sets for a small profit.

I have come to the conclusion that most if not all this modern crap will be worth no more than melt value. And the Prez dollars will be worth slightly more that $1. As someone once put it, 320 million coins were minted. 320 MILLLION!!!


It amazes me when I look at the ads in NN or CW all I see is this modern crap. Burnished proofs, reverse proofs, who cares? Personally, I am interested in collecting bullion right now. I am trying to get as much gold as I can possible get, for as cheap as possible. I will let others spend $100 for some fancy marketed silver eagle, while I keep buying my Olympic, Statue of Liberty and Congressional gold comms for melt or slightly less.


In five years, when gold is over $1000 oz., we will see whose coins are worth more.

CoinHunter2003

Have not bought one or found one and I don't want one.

Georgajacrappa!

ModernCrapNut

It's better than those who bought the "upside down" edge lettering GWD.

Whatafind

I would buy the Wisconsin Leaf , over the GW

dpoole

I always buy into the hype, if the errors/varieties/issues are real cool/neat in some way. It's what's already been said: dollar cost averaging.

You never know how many are out there when first they appear. You may get stuck with a Wash plain edge for $100+, but that means you also pick up the Wisconsin low leaf, the 1992-D Close AM Lincoln, the 1990 no S Lincoln proof, the 1995W ASE proof, etc. etc

Makes for fun collecting, too.

Zoins

<< <i>I always buy into the hype, if the errors/varieties/issues are real cool/neat in some way. It's what's already been said: dollar cost averaging.

You never know how many are out there when first they appear. You may get stuck with a Wash plain edge for $100+, but that means you also pick up the Wisconsin low leaf, the 1992-D Close AM Lincoln, the 1990 no S Lincoln proof, the 1995W ASE proof, etc. etc

Makes for fun collecting, too. >>

Good perspective.

FullStrike

Maybe there's still hope for me to get a plain-edge at $2.00 ?

On the other hand, I need a slabbed one. Maybe $20 will get me one ?

SUMORADA

a couple weeks ago i had raw ones up on this forum in the buy/sell section for 85.00ea.....and 10 for 700.00,at the time ebay was getting 125 & up raw, and i was selling them wholesale at 65 -75 in quantity to several dealers, no one from this forum did or bought anything.....which is fine..............now it seems everybody is waiting for 25.00...it's not going to happen.............the only thing that has made the price drop on the raw coins is the fear of "fake coins" so in turn the slabbed ms64's will take there place, which they have @75-125.............has anyone heard of any substantial finds of these in the past 4-5 weeks? i don't think so............the # of these no edge lettering coins is under 50,000 out of 350 million...........these will be the key to the presidential series in years to come, and yes there will be more "smoothies" in the up-coming "ADAMS" dollars in may, i know this because the same people will be running the same machines that allowed this to happen.......maybe there won't be as many...but they will be there......and while i'm on a rant i'll add that you will find that there was "no" bin of coins that did not go thru the edge lettering machines, the P & D mint "no edge lettering" coins are a result of the edge lettering machine getting jammed and or malfunctioning.............@ 1000 coins a minute, and the error happening in both mints.......do you really think that 150,000 coins got by-passed in each mint? look at the pop reports of NGC and PCGS on these ....17-18,000 total................this is the hottest "modern crap" coin on the market right now and is the easiest to fake....which would make you think that anyone trying to sell them would want to get them certified in order to do that......again this is only my opinion and before you ask do i have anything to gain from trying to bring folks around to my way of thinking, your damm right, i gotta shxx-load of these things.........thanks for letting me rant.............

WinPitcher

I agree with sumo.


Steve

Byers

The Washington Dollar "Missing Edge Lettering" Mint Error is one of the most exciting mint errors to escape the U.S. Mint in the last 10 years. A Dollar denomination dependent on machines to place the date and motto on the edge- and it's missing- very cool. This is my first Plain Edge post in here since the discovery. And it's also the cover of Mint Error News Magazine issue 19 that will be live next week- and mailed out as well. I usually have exotic and rare (expensive) major mint errors on the cover of the mag- but in this case the error is so significant and world famous already, that it made the cover without a second thought. Just my opinion, but I am a full-time mint error dealer and have never seen this excitement or publicity in the press, papers, TV, websites or ebay since 1975 when I first dealt in error coins.

Shortgapbob

This one is doing pretty well so far (I have no affiliation with this auction).

NGC MS-67 GW Error

2manycoins2fewfunds

As far as prices go these modern errors follow a similar course............

1)Initial discovery piece goes high followed by a number of additional discovery pieces that erode price.

2)Error is reported nationally and spices spike.

3)This is followed by quick decline in price as everyone finds the bulk of examples and races to sell their coins.

4)This is followed by TPG recognition of error and new market for graded vs. raw coins.

5)Prices start to stabilize at an inital low point as the 1st wave of flipped TPG coins are digested by the market place.

6)Final phase is a slow rise to a final trading range based on grade.

Right now for the GW Smoothies I'd say we are in phase number 5.............

ChuckC

Very interesting points especially the lack of raw examples and the fear of fakes turing up at auction. I'll probably have no choice but to slab in order to give my coin any real value. Of course, I'm excited just to own one which gives me great satisfaction as a collector. I even went ahead and snapped up a D mint smoothie from a forum member. Hey, that cash is sunk, forgotten about, kaput! Now I'm eyeing the privileges of ownership (even if it cost an arm and a leg relatively speaking).

PrivateCoinCollector

To each his own, but I am not sure why anyone would rush off and buy such a thing BEFORE they had any clue as to how many are out there. In the first few weeks it is all frenzy. I never get caught up in that.

jobiwan115

No thanks, not interested in GWs.

SpaceMonkey

<< <i>To each his own, but I am not sure why anyone would rush off and buy such a thing BEFORE they had any clue as to how many are out there. In the first few weeks it is all frenzy. I never get caught up in that. >>



well... i guess if you do your homework & get lucky & time it right you could profit from such chaos... I know I was able to buy low and sell high.. more than doubled my money from this craze... in fact it funded half of my recent purchase of the Discovery Sacagawea Cherrios Dollar.... So... it's all about who is willing to take the risk and who has the time to stay on top of it all... i will say it was a rough experiance... I was on my computer all night and day every day watching the prices shoot up and down and tried my best to time it all just right.

/ed

Overdate

This "missing edge" publicity will probably up the demand for the Adams dollar. People will be "treasure hunting" for Adams errors.

If any significant errors are found, this will likely also increase demand for later presidential dollar coins.

seemyauction

Boys you better get-em before QVC gets their hands on them.....lol


AL

7over8

21,237 at both services
this coin will move upwards in value again
I see this coin in certified 65 moving comfortably into the 250 range in 6 months time
get them cheap while you can from the "flippers"

FredWeinberg

Coin World will have an article (this weeks' issue, I believe),
giving the current numbers of Certified coins, a few hoards,
etc.

Until I check with CW, I don't want to put out the specific's
that have been discussed, but I can say that the number
of coins, as mentioned in the above two groups, based on
the best estimates, is approx. 57,000 to up to the mid-60's.

Please note that everyone has their own estimates that can be
based on actual Pop reports from the services, plus other
input from known groups/"hoards", Ebay estimates, etc.

My purpose is to say there are more than 20,000+ certified & raw coins,
but considerably less than 100,000 total known, at this point in time.

Zoins

<< <i>Coin World will have an article (this weeks' issue, I believe),
giving the current numbers of Certified coins, a few hoards,
etc. >>

Will the TPGs pedigree any of these to one of those hoards?

FredWeinberg

NO, imo

DenverDave

<< <i>I did, and boy do I regret it!!!!!!!!!!!!

I rode the hype and watched as the price jumped to over $1,000/ea in one day. I was glad to have bought one for $200 earlier that morning (March 8th I believe). Now I'm seeing slabbed GW smoothies come in under $100 and raw smoothies below $50! I'm just glad I bought a couple SAE sets at original to make up for my gamble. >>



Chuck IMHO... If the smoothie you purchased is a 65 your at current market, if it's a 66 you doubled your money...

Hold tight and have it certified ( NGC's doing them @ $12.50ea ) and you will do fine even if it's a 64...

I purchased 20 from a board member ( Thanks Rick ) and 3 off eBay, the day they landed I sold the 3 for what I had in all 23..."-)

Now I'm sitting on 20 Certified Smoothies and waiting for the tide to rise...

If Adam Smoothies appear, these GW's will even do better...

I like to refer to them as the people's error...

CoinHusker

<< <i>
Hold tight and have it certified ( NGC's doing them @ $12.50ea ) and you will do fine even if it's a 64... >>




Is there a submission limit at NGC? I have 3 I'd like to have certified but @ $40 a pop I was holding off.

ChuckC

Do you guys think NGC will do a P&D multi-holder?

Zoins

<< <i>Do you guys think NGC will do a P&D multi-holder? >>

If they will certify the coins individually, they will do a multi-holder.

fishcooker

How have Sac dollars held up in TPG holders? If TPG's still use un-gloved hands to handle the coins, do these particular "golden" coins deteriorate over time?

Seems to me, that would preclude all other issues about how much a slabbed alloy coin will be worth someday. If 18000 are slabbed, and 17000 become turd brown, "MS-65" will not determine the price.

scooter25

I don't know about you guys but I think they might have accidentally let them out on purpose. What better way to get publicity and to promote the coins. I usually have a few in my pocket (regular dollars) and I will get them out and people don't even know what they are or how much they are worth. If you ask me I really think the mint needed a way to promote the coin and got it, why else would they produce 350,000,000. This is all my opinion of course

57loaded

<< <i>How have Sac dollars held up in TPG holders? If TPG's still use un-gloved hands to handle the coins, do these particular "golden" coins deteriorate over time?

Seems to me, that would preclude all other issues about how much a slabbed alloy coin will be worth someday. If 18000 are slabbed, and 17000 become turd brown, "MS-65" will not determine the price. >>



mine seem to be doing well, so far from 2000 on up....but well does not mean fresh.

i bought an SBA that is really toning nicely in TPG slab, makes for a purdy coin!

Loaded
very good observation

DenverDave

<< <i>

<< <i>
Hold tight and have it certified ( NGC's doing them @ $12.50ea ) and you will do fine even if it's a 64... >>




Is there a submission limit at NGC? I have 3 I'd like to have certified but @ $40 a pop I was holding off. >>



Husker... They have a 5 coin minimum, just include 2 other Moderns ( 1955 to Present )...

Turn around is running 12 days, took less then 3 weeks including shipping time both ways...

Gandyjai

The last "Big-Time" Mint Error on made for circulation Dollars....is the 72-P Type 2 Ike Dollar....Now
know as "The King of The Ike Dollars". It was the 2nd year of the series..
With an estimated mintage of 100,000 out of the 75 Million minted...They bring strong money
in all grades......and BIG money in higher grades.

The "Smoothie", or "Plain Edge" GW Dollar is the first coin of the series, and with even if it has
a mintage of (let's pick on the upper end of the figures already stated)....say 75,000....out of 340+ million...
That would make it 4 times as rare as the fabled 72-P Type 2. Unfortunately, they are also much easier to
fake than the Type 2's.....and lots of fakes are going to be out there.....

I think they have great potential once the intial "glut" has been absorbed by the market place.
JMHO

Brian

I LOVE TALON HEAD, PEG LEG & ERROR IKES!

holeinone1972

I am gonna hold off of selling mine. I bought 6 from a member here for approx $70 each, add $40 error grading at PCGS and shipping both ways I am into each error for about $115 each.

I got 2 MS64 and 4 MS65's.

I was hoping for a few 66's and a flip, but now it looks as I will need sit on them and ride it out longer term than I thought.

No big deal, but a quick flip is always nice.

If it was not for the $40 PCGS grading fee I could sell for a small profit now.

garsmith

I can bet that everyone here has overpaid for at least one coin in thier colection and that they have kicked themselves when the realized prices start to drop; but you just gotta take the good with the bad!

RichR

Ok...question:

For an MS-65 no edge Washington dollar+starburst, slabbed by NGC...what's a decent price?

I haven't bought any yet and I might bid on a couple just to fill the hole with a good example.

The bidding is currently at $78.

Thanks,
Rich

holeinone1972

Going rate for PCGS no edge MS 65 is about $160

RichR

Ok...from a price perspectice...is there a quantifiable quality (price) difference between a PCGS slabbed coin and an NGC slab?

nard1

what is pcgs 66 going for? THANKS

Burks

At the show I went to there were only a couple dealers with graded plain edge GW dollars.

PCGS 64 - ~$200
PCGS 65 - $220
PCGS 66 - $260 ( I think)

Another dealer had a generic slabbed one for $120. Can't remember the TPG name but it was an eBay company.

SUMORADA

i think the pcgs 66's are over 400.00.......................... http://search.ebay.com/2007-washington-error-MS66_W0QQfromZR40