Whats up with dealers and graded coins?
unknowncomic
Posts: 945 ✭✭
I recently bought a 1976S Rosie . It is slabbed by PCGS and graded PR69 DCAM. I took it to a dealer a few days ago with some other stuff I wanted to sell. He offered me a whole dollar for it and said he would break it out of the slab and put it it his "junk box". Now my question is: Is it really worthless or do I just look stupid?
I would really appreciate one of you dealers to comment on this.
Seems to be happening to me a lot lately.
I would really appreciate one of you dealers to comment on this.
Seems to be happening to me a lot lately.
Molon Labe
0
Comments
Really the only reason to have them slabbed is either for protection or for a registry set.
The 2006 Proofs are selling between $3-6 slabbed by PCGS on e-bay.
We don't deal in high grade moderns, we don't pay much attention to that market and we really don't know anything about them. If someone offered us a 1976-S PR69 CAM dime, we'd almost certainly pass at any price (possibly missing a great opportunity in the process).
But there are people who are expert in moderns, would know if a 1976-S dime in PR69 CAM is a rare and important coin, would know exactly what to pay for it and to whom they could sell it, etc.
In other words, I would suggest you bring the coin to a dealer who specializes in this sort of material.
And I would give you the same advice if you had a rare colonial - you are not likely to get full value for something like that unless you take it to a dealer who knows colonials.
Hoard the keys.
<< <i>I thought it cost more than $3-$6 just slab them. >>
It costs $10 in bulk. Some dealers have 100's of sets slabbed at a time looking to profit on the PR70's. Unfortunately the Lincoln and Roosevelt are darn near impossible to profit from, even if you get a couple of 70's.
Edited to add: Or maybe you could just cut out the middleman altogether and sell it on ebay. Here's a recent sale you can use as a guideline. There were others for a little bit more.
1976-S Auction
Are you sure the dealer was right? Maybe $5 is all it was worth to him. But that doesn't mean that's all the coin is worth to everybody
The PCGS Price Guide says a 1967 Jefferson in MS66 is worth $525, and the pop report says there are only 34 of them in that grade and just two finer.. My guess is that market reality lies somewhere between those two prices –– and I'll bet it's closer to PCGS' price than that dealer's price.
<< <i>It costs $10 in bulk. Some dealers have 100's of sets slabbed at a time looking to profit on the PR70's. Unfortunately the Lincoln and Roosevelt are darn near impossible to profit from, even if you get a couple of 70's. >>
I would love to buy a certified MS70 Lincoln for ten dollars... Sign me up!
<< <i>
<< <i>It costs $10 in bulk. Some dealers have 100's of sets slabbed at a time looking to profit on the PR70's. Unfortunately the Lincoln and Roosevelt are darn near impossible to profit from, even if you get a couple of 70's. >>
I would love to buy a certified MS70 Lincoln for ten dollars... Sign me up!
Try submitting 2000-3000 and paying $30K in fees. Oh and if they find a 70 it is $25 to slab it. Then you have the headache of selling all of those $10 slabs for less than a dollar each.
<< <i>"t happen's all the time if they don't collecte modern coins it's not worth much to them.I took some 1967 Jefferson's MS-66 in a P.C.G.S holder to a Dealer and he would buy them from me for 5.00 he said that is all they are worth. So I said thank you and went on my way.:"
Are you sure the dealer was right? Maybe $5 is all it was worth to him. But that doesn't mean that's all the coin is worth to everybody
The PCGS Price Guide says a 1967 Jefferson in MS66 is worth $525, and the pop report says there are only 34 of them in that grade and just two finer.. My guess is that market reality lies somewhere between those two prices –– and I'll bet it's closer to PCGS' price than that dealer's price. >>
Ya 34 is right and I have 10 of them I did see one on the bay it was a MS-67 was going to try but just over my price did not sell went to 2,300. or so I was going to bid 1,000 but it passed that mark in two day that it was up did not get to it's reserve so it did not sell.
Hoard the keys.
Wondercoin