What's the Best Course of Action for "Flipping?"

astrostu

Okay, that out of the way ... I've never speculated before on coins, nor has my brother, but he and I both bought a few extra sets of the 25th anniversary SAEs. We're trying to figure out the best way to maximize secondary market returns.

One simple option is that Modern Coin Mart is offering $60 over cost on any set shipped to them in Mint-sealed boxes. Seemed a bit low to me, but then again, on 5 sets it's get to keep a set for free (if you bought 6 ... err, a friend bought one for you). But they're demanding confirmation number and last name by the end of today and then you're locked in to sending it to them. (And now that it's 8:30PM my time, I'm not going this route.)

Then I saw that APMEX is offering $425 a set, but that's only on >$100k, which obviously I don't have, so I haven't called them to see what it would be for just a few sets.

Then there's eBay which seem to already be going around $450+ a set which I'd expect to increase to at least $500 over the next few months. And that was before I checked (or my brother did) a few hours ago and they're going for $550-650 already.

But then there's also the question of grading - should we sent a few sets into NGC or PCGS to get graded? Neither of us are members, and neither of us have ever done it. Looking, NGC's pricing looks better and they're offering the labels, though I'm guessing that I probably just didn't get to the correct page on PCGS's site. And on the secondary market, -70s seem to generally command 2x of -69s.

My brother got 4 sets and I got 10 (5 me, 5 a friend). I'm considering sending in 5 of mine to be graded by NGC (unopened box, blah blah) with the special label and ER. I actually want to keep 2 sets for myself. So I figured I'd then hit the 'bay with my 5 graded sets (assuming they're well matched to 69s and 70s; or go individually with "left overs") and 3 of the OGP sets. I also figure I'll sell a few when they come, and I'll save a few to sell over the next year or so as the price history for the 2006 set peaked around 7-10 months after the initial Mint release.

Does that seem like the best option? I'm hoping to crowd-source the answer here because I feel bad giving my brother financial advice with coins here when I've never actually submitted anything to be graded, myself. And I want to know what to do so I can pay for a new camera body.


Finally, please don't hate me! If you're going to rant about flippers ruining the hobby, go post on a different thread.


P.S. I also realize the T&C of PCGS's boards make it so that if people were to recommend here to grade through NGC versus PCGS either the thread or your post will be deleted. I'd like to prevent that from happening. If you have a strong feeling either way, please PM me.

FullCameo

I'd do what ever makes a fair profit without notifying the occupy Wall Street crowd.

LotsoLuck

AnkurJ

I think this is one we will find out in the weeks to come. Personally, I am leaving the boxes sealed and not chancing the grading. While I may be leaving money on the table if they grade 70's, I probably wont lose much if they grade 69's. At the end, I think it will average out to the same as selling them as sealed boxes.

jeremym

<< <i>I think this is one we will find out in the weeks to come. Personally, I am leaving the boxes sealed and not chancing the grading. While I may be leaving money on the table if they grade 70's, I probably wont lose much if they grade 69's. At the end, I think it will average out to the same as selling them as sealed boxes. >>



But...say you do send 5 sets in for grading, which comes out to be about $560~ through PCGS. What if you get a full 70 set? Even if you don't, the higher grades will still command a premium over sealed/ungraded sets, I imagine. You'd easily make your money back that you spent in grading fees. An extra $113~ per set that will easily be returned if not 70's is worth it to me. Then again, you're also entering the "70 lottery" for free--they make 70s, you make thousands; they don't make 70s, you make your money back.

AnkurJ

Its a calculated risk, I agree. While you are waiting for grades, prices for the sets could drop at the same token. The market will be flooded with these when people get them in hand.

comma

<< <i>Its a calculated risk, I agree. While you are waiting for grades, prices for the sets could drop at the same token. The market will be flooded with these when people get them in hand. >>



That was my number one reason for not sending them in...you lose the edge on the market if it peaks while your coins are in limbo

astrostu

<< <i>

<< <i>Its a calculated risk, I agree. While you are waiting for grades, prices for the sets could drop at the same token. The market will be flooded with these when people get them in hand. >>



That was my number one reason for not sending them in...you lose the edge on the market if it peaks while your coins are in limbo >>



This is why I'm thinking of sending one box of 5 in to get graded while selling 3 in OGP if the prices look like they're peaking during that time. I want to keep at least 1 set over a year to see what the prices look like.

DRUNNER

I guess these were something special?

I never paid attention to them . .I guess this one got by me (unlike the 1999 Silver Proof Sets where I got 90 of them).

Uh . .are they cool or something???????????

Must be . . . every thread is about them.

Are they bullion? Something unique??????? Are they in Doilies??????

Drunner

fivecents

<< <i>That was my number one reason for not sending them in...you lose the edge on the market if it peaks while your coins are in limbo >>

Send the sealed sets in for grading quickly via express mail and you should out run the peak of the market.

Justlooking

Is this cherrypicking the U.S. Government? That's un-American! Shouldn't anyone who profits off these split the difference with Uncle Sam?

comma

Government got $30 million already from them

derryb

buy low, sell high

Justlooking

Good point. I wonder if they wonder if they should have increased the price or the mintage to make a little bit more cash. Looks like the Mint missed the boat on this one. Or do they ever consider such things?

vann

Just like the 20th anniversary silver eagle sets, sealed First Strike 25th anniversary eligible sets will bring double what the opened sets will once they start shipping and graded PCGS First Strike 70's RP PR70 $2,000+, UNC MS70 $1,000, PR70DCAM $500, bullion MS70 with FS 25th anniversary label = Moon Money.

Swampboy

<< <i>Government got $30 million already from them >>



Yeah cause the 500,000 one ounce silver blanks were free.
A gift of the Australians I think.

tyler267

I am pretty sure the whole 25th Anniversery set will not be eligible for the first strike designation at PCGS.

If the coin was released previously they will not give it a first strike designation.

That is what happened in in 2006 with the 20th Anniversery Sets, which is why it is so hard to put together all three coins in first strike 70.

TwoSides2aCoin

Best course of action for "flipping": Hurry ! That's what makes a flipper.

CCC2010

I have no idea.... but is it what they call Pre-selling

derryb

don't sell too soon, don't sell too late, and don't sell what you don't have in your hands.

vann

<< <i>I am pretty sure the whole 25th Anniversery set will not be eligible for the first strike designation at PCGS.

If the coin was released previously they will not give it a first strike designation.

That is what happened in in 2006 with the 20th Anniversery Sets, which is why it is so hard to put together all three coins in first strike 70. >>


That is not the case. All the coins from the 20th Anniversary sets were eligible for First Strike if sent in for grading in the sealed box. The exception was the burnished 'W' UNC coin from the 3-coin silver set since that coin had been released earlier in the 2-coin gold and silver 20th anniversary set. PCGS was not grading the silver 'W' UNC MS70 at the time either:

http://www.pcgs.com/services/twentiethanniversary.html

The reason there were so few First Strikes with the 2006 Anniversary sets was many people opened their sets before PCGS announced what the submission guidelines were.

Bullsitter

If I'm lucky and get my sets I will open them and inspect the "S" and Reverse Proof coins.
If they look like 70s I'll send 'em in for PCGS FS, if 68/69 I'll probably leave in OGP. I will keep at least one nice set......
I'll consider myself lucky again if I get a MS70 "S" coin and a REV PR70 coin from the ten I'll have to choose from. I've done well on gold submissions but terrible on silver submissions......maybe I'm due a couple.

comma

<< <i>don't sell too soon, don't sell too late, and don't sell what you don't have in your hands. >>



Couldn't agree more. Especially the last point.
It's all timing...and nobody knows what is going to happen until they have shipping confirmation...

vann

<< <i>If I'm lucky and get my sets I will open them and inspect the "S" and Reverse Proof coins.
If they look like 70s I'll send 'em in for PCGS FS, if 68/69 I'll probably leave in OGP. I will keep at least one nice set......
I'll consider myself lucky again if I get a MS70 "S" coin and a REV PR70 coin from the ten I'll have to choose from. I've done well on gold submissions but terrible on silver submissions......maybe I'm due a couple. >>


By opening the set, you automatically turn the bullion coin into one of the 30,000,000 other 2011 bullion silver eagles instead of a 25th Anniversary commemorative with a 100,000 minatge. If the past is any guideline (2000 Millenium set with Sac and ASE with a 75,000 mintage, 2006-W UNC NGC Blue label from 2-piece gold & silver set with a 20,000 mintage), that coin will be the sleeper of the whole set. even the lower grades should sell at a substantial premium due to the limited mintage compared to the standard bullion coin. If anyone is lucky enough to get a MS70 25th Anniversary bullion coin = Moon Money.

derryb

<< <i>If anyone is lucky enough to get a MS70 25th Anniversary bullion coin = Moon Money. >>


Here's one in First Strike for 94 bucks delivered

drei3ree

<< <i>

<< <i>If anyone is lucky enough to get a MS70 25th Anniversary bullion coin = Moon Money. >>


Here's one in First Strike for 94 bucks delivered >>



vann is referring to the 2011 in MS70 FS 25th Set designation.

vann

<< <i>

<< <i>

<< <i>If anyone is lucky enough to get a MS70 25th Anniversary bullion coin = Moon Money. >>


Here's one in First Strike for 94 bucks delivered >>



vann is referring to the 2011 in MS70 FS 25th Set designation. >>


Exactly. That will be the hardest coin of the set to get in a 70 and the key condition rarity of the set. Basically if you want a perfect First Strike 25th Anniversary set you will need that coin, which is why I think it will be the sleeper of the set just like the 2006-W UNC NGC 20th Anniversary Set Blue Label from the 2-coin gold & silver set was the key of the of the silver anniversary sets and the PCGS PR70DCAM 20th Anniversary set gold eagle was the key of the gold sets.

pontiacinf

judging from threads everyone from joe shmoe to joe shmuck tryed to get in on these

joe shmoe knows what to do

others are starting all these useless threads