A little story from this past weekend's MOON Coin Show
Geoman
Posts: 2,491 ✭✭✭
I was helping out a dealer behind his table for the MOON coin show this past weekend, and I had a person (~25 years old) ask to see the book of Kennedy Half Dollars. The dealer I work with has a 3-ring binder of all the Kennedy Halves - both in MS and Proof. This person flipped through the book, looking for a particular date. After he studied the date (1979-S Type 2) he pulls out a coin his Dad had given him a while ago. It was a 1979-S Proof Kennedy (Type 2) in a 2x2 cardboard flip. On the flip was written RARE!! with a price of $1500.
He asks me why ours are only $17 each, when his is worth $1500.
I had to explain to him that his was only worth $17 also, and that only if it was graded a PCGS MS70 would it be worth anywhere near that much. I pulled out a slabbed PCGS 69DCAM in the same date and showed him the coin and he compared it to his. He couldn't tell a difference. Exactly, I tell him. His coin did have a few "specks" on it and would probably only grade 68. He asked the chance of it grading 70DCAM at PCGS and I told him it had about the same chance of winning the lottery. I was nice about it, but he had to be told that his coin isn't worth $1500. Then I got to thinking where he got that figured. So I checked the PCGS price guide and sure enough, the 70DCAM grade is listed at $1500!
Any other stories from last weekend coin shows?
He asks me why ours are only $17 each, when his is worth $1500.
I had to explain to him that his was only worth $17 also, and that only if it was graded a PCGS MS70 would it be worth anywhere near that much. I pulled out a slabbed PCGS 69DCAM in the same date and showed him the coin and he compared it to his. He couldn't tell a difference. Exactly, I tell him. His coin did have a few "specks" on it and would probably only grade 68. He asked the chance of it grading 70DCAM at PCGS and I told him it had about the same chance of winning the lottery. I was nice about it, but he had to be told that his coin isn't worth $1500. Then I got to thinking where he got that figured. So I checked the PCGS price guide and sure enough, the 70DCAM grade is listed at $1500!
Any other stories from last weekend coin shows?
0
Comments
Yeah, at a show last weekend, I bought this 1979-S Type 2 half in a 2x2 from this 25-yo dude for $17, walked it through PCGS, got a PR70 DCAM, and flipped it for $1,500 five minutes later. What a weekend!!!
(Kidding, but I just had to say it!).
Authorized dealer for PCGS, PCGS Currency, NGC, NCS, PMG, CAC. Member of the PNG, ANA. Member dealer of CoinPlex and CCE/FACTS as "CH5"
<< <i>He asked the chance of it grading 70DCAM at PCGS and I told him it had about the same chance of winning the lottery. >>
That's a great analogy on so many levels.