First Strke and Presidential Dollars
JimDepot
Posts: 958 ✭✭
First Strike is now $18 and modern is $14 so $32 per coin + shipping for the designation and $16 for the proof set.
I buy two PR69DCAM sets as Christmas presents for my nephews.
Now $144 per set to get graded and I bought them from $40 to$55 each for the last few years.
Will dealers/eBayers continue to get them graded and sell the 69's at a loss?
Wow, just looking at my math.
$144 + shipping for a 2010 PR69DCAM First Strike Presidential proof set.
I buy two PR69DCAM sets as Christmas presents for my nephews.
Now $144 per set to get graded and I bought them from $40 to$55 each for the last few years.
Will dealers/eBayers continue to get them graded and sell the 69's at a loss?
Wow, just looking at my math.
$144 + shipping for a 2010 PR69DCAM First Strike Presidential proof set.
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Comments
<< <i>Will dealers/eBayers continue to get them graded and sell the 69's at a loss? >>
Its possible. But it certainly will not last forever.
The same is true for the Presidential Dollar First Day of Issue. Most of the submitting dealers are taking a bath on the common grades and charging out the ying yang for the higher grades. That won't last for too much longer either.
I fully expect that by the end of the program, most folks will be treating the Presidential Dollars in the same light as any other Modern Dollar coin!
Specifically: <yawn>
The name is LEE!
Box of 20
<< <i>Some, not all dealers pay a lot less in bulk for grading. >>
No First Strike in bulk grading.
Box of 20
PF70DCAM's selling for less than $400 on eBay.
I just do not understand how they can continue.
<< <i>What a waste of money. >>
I think morgans are a boring series...but I don't chime in on every morgan thread with the same old crap. If you aren't interested, don't open the thread. --Jerry
As a dealer, I can get them for less and it used to be profitable. But PCGS is recruiting a lot of new sellers from sports cards and everywhere else who jump in expecting to get rich quick, figure out is isn't that easy, and dump their coins on ebay at a loss. They even dump their 70s at open auction, right away, competing with each other and driving prices down below where it should be. You can't absorb the losses on the 69s if the 70s are worthless too. It is getting very hard to compete with them. I'm not grading any more lower value coins this year because it has become a lot of work just to lose some money. I'll be back in the future if the environment improves but right now the collectors have to depend on these new guys and it is not fun to tell your customers you've had for years that you aren't doing it this year.
--Jerry
<< <i>
<< <i>What a waste of money. >>
I think morgans are a boring series...but I don't chime in on every morgan thread with the same old crap. If you aren't interested, don't open the thread. --Jerry >>
It has nothing to do with the coin series Jerry as much as it has to do with the numbers not adding up. That's all.
A single Presidential costs $32 plus shipping to get graded yet the 4 coin sets are available for under $40? That's a money loser for Moderns Dealers and a windfall for Moderns Collector's.
Why spend $128 sending my own set in when I can get PR69DCAM's for $10 a piece?
The name is LEE!
<< <i>First Strike is now $18 and modern is $14 ..... >>
$18 vs. $14
How long do the experts spend evaluatiing first strike characteristics?
<< <i>
<< <i>First Strike is now $18 and modern is $14 ..... >>
$18 vs. $14
How long do the experts spend evaluatiing first strike characteristics? >>
Zero seconds.....first strike is a timeliness of submission in regards to release. No "characteristics" of the actual first striking of the coin is part of this at all.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
<< <i>
<< <i>Some, not all dealers pay a lot less in bulk for grading. >>
No First Strike in bulk grading. >>
HSN, Coin Vault, etc. seem to get a boat load of these. Of course that may vary according to the TPG they use. I have to say I don't often see PCGS holders offered, at least the times I've watched for entertainment value. Plus their prices would make up for the costs.