I finally submitted my huge hoard of 2001-P Proof and 2001-D Unc Buffalo Silver Dollars to PCGS! H

oreville

Whoa, I had a good day on my 2001-P proof and 2001-D uncirculated buffalo silver dollars!

8 MS-70's out of 55 submitted (over 14%)
7 PR70's out of 35 submitted (20%!)

I see the average grade through rate of 70's is just slightly over 1% for both proof and uncs.

I even got the lowest graded MS-64 graded as well!

I held back 55 unopened Uncirculated Buffalos and 20 unopened Buffalo Proof Silver Dollars waiting on the results. I now see those boxes are worth breaking open and submitting them.

keets

judging from the way we operate, this is a colossal waste of money. they get treated as bullion and are bought/sold with at a spread around melt. good luck in selling them all, you'll probably make money on the 70's.

intocoins

If he is talking about the 2001 Buffalo commem's ,I doubt none of those coins will sell for anywhere near melt. I think I was only allowed to buy the 20 sets from the mint. The proof and uncirculated two coin set sold @ about $50.00 from the mint. About a month later the sets were selling for about $400.00 on Ebay. Since then they have depreciated a little , but have held a good price throughout. Nice score!

boucharda

Nice score! The last Bay sales were: PF69 $195
MS69 $164
MS70 $635
And these are low!

I wouldn't agree to: "this is a colossal waste of money. they get treated as bullion and are bought/sold with at a spread around melt."

jessewvu

Nice score. If you are having a hard time selling the 70's, maybe you could sell me one of each on the cheap (or somewhere close to a great deal)!

keets

sorry, i was seeing GOLD!!!

GRANDAM

<< <i>I finally submitted my huge hoard of Buffalo Silver Dollars to PCGS! >>



PCGS MS70 Buffalo Silver Dollars sell from $600 - $800 so I'd say he did allright.

GrandAm

TJM965

Looks like you will be watering down the population of 70's. Watch out prices.

TwoSides2aCoin

Today is the best day of my life, so far. Congrats to you !

Halfhunter06

by any chance, did you submit them at Coinfest?

OPA

<< <i>sorry, i was seeing GOLD!!! >>



You need to get your glasses fixed....

BTW some of the fractional PCGS 2008 Gold Buffs ... especially the FS coins are selling for "moon $$$"

jsf

wtg!

oreville

Indeed these are the 2001-P and 2001-D buffalo silver dollars not the gold ones!

Halfhunter06: You got it right. I submitted them at Coinfest in the morning. You were next to me? I might have grunted at you because I did not have my coffee yet.

19Lyds

So am I reading this correctly since I do screw stuff up?

You submitted 55 Uncs and still have 55 unopened UNCs for a total of 110 unc coins?

You submittted 35 Proofs and still have 20 unopened Proofs for a total of 55 proof coins?


Were these all from an original 2001 order?

fivecents

Congratulations..that deserves a "YOU SUCK"!!!!!

bestday

<< <i>Nice score! The last Bay sales were: PF69 $195
MS69 $164
MS70 $635
And these are low!

I wouldn't agree to: "this is a colossal waste of money. they get treated as bullion and are bought/sold with at a spread around melt." >>



Prices have dropped this year, early this year MS70 was near $900 and the 70 prf was $1200 +.. still a pretty coin especially in PRF

quickwing

Nice score oreville. Probable that the price has peaked since there are tons of 70's out there in SDBs all over. Slab the rest and let the flipping begin! (If a 7yr. hold qualifies as a flip )

leothelyon

I even got the lowest graded MS-64 graded as well!


So...... was this some kind of slip up on the ole ailing eyes or was it the result from a straight horse bet?


Leo

P.S. We are witnessing coin collecting at it's best!

Fountainhead

Were these all from an original 2001 order?

There were no order limits on the 2001 Buffalos. That's why the 250,000 minted sold out so fast - within a few days, as I recall. I ordered two with a plan to order one hundred if I thought they were good, only to find out that others had beat me to it when the stock ran out.

oreville

Leothelyon:



<< <i>I even got the lowest graded MS-64 graded as well!
So...... was this some kind of slip up on the ole ailing eyes or was it the result from a straight horse bet?
Leo
P.S. We are witnessing coin collecting at it's best! >>



Hey, if I try to cross that PCGS MS-64 to NGC maybe NGC will only go MS-63?

Then I can go back to PCGS with the NGC 63 and PCGS will insist on an MS-62?

I love it!!!!

BECOKA

Wow, congrats and good foresight to hoard these. You should do very well in sales.

FatMan

Just illustrates the changes in the modern grading standards since 2001. I recall back in 2001 & 2002 there were only a handful graded as 70's and they were selling on the bay of e for around 3k.

Good move in holding those to be graded now. Chances are if you submitted back in 2001 you would have received all 69s.

ilikebuffaloes

Congrats on the results!

The mint put a limit of 20 per order (not household) on the Coin and Currency sets after orders were already taken in excess of the 50K limit on the sets.

There was no limit on the single coins or the 2 coin sets.

I still have a few sets left over from 2001 and a pair of NGC 70s. It is still one of my favorite coins!

pennyannie

Why did you wait until now to start submitting them to be graded? Was this planned from the start in 2001? Just wondering.

oreville

<< <i>Why did you wait until now to start submitting them to be graded? Was this planned from the start in 2001? Just wondering. >>



Hmm, good question.

1/Well firstly after I received the coins in July 2001, i wanted to enjoy the rest of the summer first before even thinking about grading.

2/Then 9-11 struck. A terrible national tragedy. No time for coins.

3/Mailing coins two months later with all the white powdered envelopes stuff going on??? You are kidding.

4/Then prices zoomed and saw the grading results (as Fatman noted) were lousy in favor of getting MS-70's or PR70's. I never even opened the proof boxes. In fact, I still have 4 US MINT sealed/unopened proof buffalo boxes of 5 proof silver dollars in each boxe!!!

5/Time just flew by before I finally decided to do them. Also the excitement and prices has died down on the buffalos so I thought it would be a better time to submit them.

6/I still have another 55 uncs and 20 proofs to possibly submit but since waiting 7 years to submit the first time works perhaps waiting another 7 years (in 2015) might work as well the 2nd time?

Hope this helps.

Batman23

Congrats on the grades!

I now know why I was never able to buy any from the mint. You guys bought them all before I had the chance. They are a nice looking coin but I could never get myself to pay the high asking price that they were bringing on Ebay afterwards. I do not remember the prices they were going for but it was unreal. I would have to say that you made a wise and profitable investment.

morgansforever

You received a 4 on a modern commem? I find it hard to believe.

I can see a 6 or 7 but MS64, must be the only one.

TwoSides2aCoin

Ownership adds a point, until you get a 70, then it adds flippablity

oreville

morgansforever:

Actually this MS-64 is one of TWO in 64 (would you believe?)and is only tied for lowest graded.

I am more excited about seeing this one come back. I will report on why it made 64 as I do not recall.

Halfhunter06

yep, i was right next you submitting my coins while you were doing yours. The second i saw this thread i knew it had to be you. You took FOREVER in submitting them and i was getting ticked! lol

lope208

<< <i>Just illustrates the changes in the modern grading standards since 2001. I recall back in 2001 & 2002 there were only a handful graded as 70's and they were selling on the bay of e for around 3k.

Good move in holding those to be graded now. Chances are if you submitted back in 2001 you would have received all 69s. >>



I thought current grading standards were getting tighter??