Grading Modern AGE Proofs

gdavis70

Seeing that proof coins grading a 70 get a serious premium I got to wondering what percentage of Proof AGE's grade 70 out of the original boxes?

I ask because I have 8x 1/4 oz of these in original packaging and I am wondering if it's worth submitting them all in hopes of hitting something...

derryb

Proofs are much tougher when it comes to a 70. I have submitted a lot of modern gold and silver proofs to both of the major grading companies. My experience with modern proof submissions shows this:

If coin is not submitted in original capsule, no 70
If coin has been removed from capsule, handled and put back in capsule, most likely no 70
The older the proof the less chance of a 70 (I guess they "age" in the capsule)
Lower percentage of 70s from PCGS (explains their higher sales premium)
Screen all submissions, even though they remain in original mint capsule, for minor mint damage. By doing so you can increase your percentage of 70s.

On average, and this is just my average, I get about 40% 70s from PCGS in a bulk submission and about 60% 70s in a bulk submission from NGC. You can add a good 10-25% to that with magnified screening for mint damage and removing damaged coins from submission, unless of course you don't mind the 69. I don't mind it because it still adds authentication and marketability to the coin.

Of course, there are exceptions, although I have not seen them.

gdavis70

Thanks for the information Derry!

It sounds like I should have them graded. These coins were never out of the plastic. When I do I will report my %'s.

goingbroke

I have MANY PCGS 70 graded coins in my collection. I have found that the price I receive when selling these coins has been LOWER then when I sell my similar raw coins. For instance A PCGS 70 graded half ounce proof platinum I recently sold here on the BST went for less then $400. (I had no reserve) far under even the metal value of the graded coin. This is confusing but I guess some would rather pay more for a raw coin then a graded one!

OPA

Pay the extra $18 for a First Strike Label, if they qualify, well worth the $ if you intend on selling them.

derryb

I might add that raw gold eagle proofs have seen a nice runup in the last year. A lot of people attribute that to the "Gold IRA" which is hogwash because any gold or silver eagle can be used in said account. I believe the run-up was based on the false belief that only proof coins could be deposited into the IRA. That said, I would first study sale prices of raw and ungraded before I made a decision to grade. Also realize that once the dealers and general population realize that the Gold IRA is not limited to just proof coins, the raw market for proof AGE's may crash back to reality.