On so many series, you can buy TEN MS63 examples for the price of ONE MS65 example. Careful sight seen buying can find high end 63s that have better eye appeal than some of the low end 65s that endlessly trade on the wholesale/auction/show/bottom feeders circuit. With precious metals driving silver and gold coin prices, having ten times more bullion with a slightly lower technical grade seems smart.
Frank Provasek - PCGS Authorized Dealer, Life Member ANA, Member TNA. www.frankcoins.com
Take this scenario. White widget coin has the following market values for typical properly graded examples: MS65 $600; MS66 $3,500. All of the top registry players own a 66. Dealer shows coin junkie an eye popping frosty, cameo-like, lusterous 65 that has a grade limiting mark or two that technically keeps it out of a 66 holder. Dealer want $1,000 for it and $3,500 for a 66. The 65 has more pizzazz than the 66. Collector is not interested in owning a run of the mill white widget 65 of this mundane date and loves the flashy $1,000 coin but knows that if he buys it he can kiss his $400 premium goodbye because all of the big players will pass on it and pony up for a 66. The registry set players at the 65 range get no extra points for the PQ coin so why should they pay more than $600 for a 65? Which coin does he buy?
CG >>
Neither, CG. But I don't think of bang for the buck in terms of registry points/considerations.
<< <i>The person who buys extremely eye appealing coins usually understands that:
1. extremely eye appealing coins can be underpriced, fairly priced and over priced, however, they are almost always, without exception, far more expensive than coins that are not extremely eye appealing;
2. extremely eye appealing coins are not fungible goods; they are almost always more illiquid at fair prices than average looking coins;
3. determining what an extremely eye appealing coin is worth (to you) is much more difficult than determing what an average coin is worth and can often include how you and the wife are getting along;
4. it is best to keep what you paid for an extremely eye appealing coin to yourself because the ignorant and fearful masses (which doesn't include anyone on this board, of course) who don't have the self confidence or wisdom to buy the very best (that they actually could afford) will usually think that you overpaid for it because their reference point for what something is worth is a price guide for average coins and they don't understand premiums, usually, for the very best, and finally;
5. the satisfaction that is derived by owning the very best eye appealing coins more than compensates for the little voice in the back of your mind that occasionally whispers....."man, I can't believe I paid X for this monster...I must have lost my mind...." >>
Anaconda - some good wisdom in your comments! I especially can relate to point 5 (very best is relative for a small time collector like me), although the little voice often is louder than a whisper.
<< <i>Anaconda - some good wisdom in your comments! I especially can relate to point 5 (very best is relative for a small time collector like me), although the little voice often is louder than a whisper. >>
Thanks....and trust me, I can relate to your assertion that the "little voice is often louder than a whisper"!
Comments
sight seen buying can find high end 63s that have better eye appeal than some of the low end 65s that
endlessly trade on the wholesale/auction/show/bottom feeders circuit. With precious metals driving
silver and gold coin prices, having ten times more bullion with a slightly lower technical grade seems
smart.
<< <i>Mark,
Take this scenario. White widget coin has the following market values for typical properly graded examples: MS65 $600; MS66 $3,500. All of the top registry players own a 66. Dealer shows coin junkie an eye popping frosty, cameo-like, lusterous 65 that has a grade limiting mark or two that technically keeps it out of a 66 holder. Dealer want $1,000 for it and $3,500 for a 66. The 65 has more pizzazz than the 66. Collector is not interested in owning a run of the mill white widget 65 of this mundane date and loves the flashy $1,000 coin but knows that if he buys it he can kiss his $400 premium goodbye because all of the big players will pass on it and pony up for a 66. The registry set players at the 65 range get no extra points for the PQ coin so why should they pay more than $600 for a 65? Which coin does he buy?
CG >>
Neither, CG. But I don't think of bang for the buck in terms of registry points/considerations.
<< <i>The person who buys extremely eye appealing coins usually understands that:
1. extremely eye appealing coins can be underpriced, fairly priced and over priced, however, they are almost always, without exception, far more expensive than coins that are not extremely eye appealing;
2. extremely eye appealing coins are not fungible goods; they are almost always more illiquid at fair prices than average looking coins;
3. determining what an extremely eye appealing coin is worth (to you) is much more difficult than determing what an average coin is worth and can often include how you and the wife are getting along;
4. it is best to keep what you paid for an extremely eye appealing coin to yourself because the ignorant and fearful masses (which doesn't include anyone on this board, of course) who don't have the self confidence or wisdom to buy the very best (that they actually could afford) will usually think that you overpaid for it because their reference point for what something is worth is a price guide for average coins and they don't understand premiums, usually, for the very best, and finally;
5. the satisfaction that is derived by owning the very best eye appealing coins more than compensates for the little voice in the back of your mind that occasionally whispers....."man, I can't believe I paid X for this monster...I must have lost my mind...." >>
Anaconda - some good wisdom in your comments! I especially can relate to point 5 (very best is relative for a small time collector like me), although the little voice often is louder than a whisper.
<< <i>Anaconda - some good wisdom in your comments! I especially can relate to point 5 (very best is relative for a small time collector like me), although the little voice often is louder than a whisper. >>
Thanks....and trust me, I can relate to your assertion that the "little voice is often louder than a whisper"!