Doesn't make sense. Graded PCGS 70 sets have hit below $1300. Unless he wanted one to complete a 70 set. I thought I jump in at $1600 for PCGS 70 sets, glad I waited. If they hit $1100-$1200 may jump in again. Interesting to see how this market is behaving. Dealers may be buying these up at these prices. The only problem in keeping these 70 sets long term is the spotting issue. At least a year from now before true prices emerges for this set. I would not sell in this market.
The flood of graded coins has invoked the law of supply and demand, especially on ebay. Those that don't need a quick flip for financial reasons should sit on their graded 25th ASEs - prices will get strong once the flipping has flipped.
The only way to make an economic system truly stable is to permit the free market to take over.
<< <i>The flood of graded coins has invoked the law of supply and demand, especially on ebay. Those that don't need a quick flip for financial reasons should sit on their graded 25th ASEs - prices will get strong once the flipping has flipped. >>
I still have the 7 sets I originally bought and none are for sale anytime soon. So I agree with you.
<< <i>The flood of graded coins has invoked the law of supply and demand, especially on ebay. Those that don't need a quick flip for financial reasons should sit on their graded 25th ASEs - prices will get strong once the flipping has flipped. >>
Last 8 Completed listings: $1,499.00 Dec 9 08:15 Auction $1,400.00 Dec 8 21:24 Buy it Now $1,401.10 Dec 8 21:20 Auction $1,400.00 Dec 8 21:13 Buy it Now $1,405.00 Dec 8 21:10 Auction $1,404.99 Dec 8 20:50 Auction $1,476.00 Dec 8 20:40 Auction $1,425.00 Dec 8, 20:38 Auction
<< <i>I thought I jump in at $1600 for PCGS 70 sets, glad I waited. If they hit $1100-$1200 may jump in again. >>
So, it you wanted, how can you jump in again? At what price did you jump in?
<< <i>Graded PCGS 70 sets have hit below $1300. >>
When was that? I have been tracking every PCGS 70 auction (that I know about) for the past two weeks and haven't seen but a couple below $1400 (non-signature sets). There was on guy on another thread claiming he watch a 70 set with an opening bid of $600 close w/o a bid. I call BS! - NEVER MIND - HE WAS TALKING ABOUT THE 20TH ANNIVERSARY SET!
I been selling my NGCs and buying the Mercanti sets. It is not a bad deal when you consider the cost difference of the grading. I did buy my first Mercanti set for $1575 but got other 4 for $1300 so not too bad.I will buy a few more if price gets cheaper. Laters
<< <i>I been selling my NGCs and buying the Mercanti sets. It is not a bad deal when you consider the cost difference of the grading. I did buy my first Mercanti set for $1575 but got other 4 for $1300 so not too bad.I will buy a few more if price gets cheaper. Laters >>
F
Funny how people are getting these really low prices. They must not be buying on eBay because the sales records don't support their claim.
<< <i>I been selling my NGCs and buying the Mercanti sets. It is not a bad deal when you consider the cost difference of the grading. I did buy my first Mercanti set for $1575 but got other 4 for $1300 so not too bad.I will buy a few more if price gets cheaper. Laters >>
F
Funny how people are getting these really low prices. They must not be buying on eBay because the sales records don't support their claim. >>
I did get one on ebay for $1300 and when you add ebay bucks and credit card rewards it made set only $1260 not bad. I save my credit card points every year and pay it on house.Try to make it really count.
<< <i>I did get one on ebay for $1300 and when you add ebay bucks and credit card rewards it made set only $1260 not bad. I save my credit card points every year and pay it on house.Try to make it really count. >>
Since I started seeing PCGS69 sets going for around the $700s,I was able to sell 3 PCGS 69 Flag FS sets to APMEX for $800.00 each. Yesterday they were paying $25 more per set,but I was happy doing it today anyway. I have a 70 set and a couple of mixed sets that I will hold onto for better days.
<< <i>I been selling my NGCs and buying the Mercanti sets. It is not a bad deal when you consider the cost difference of the grading. I did buy my first Mercanti set for $1575 but got other 4 for $1300 so not too bad.I will buy a few more if price gets cheaper. Laters >>
F
Funny how people are getting these really low prices. They must not be buying on eBay because the sales records don't support their claim. >>
Yes that is ONE set - NOT 4 and was already discussed here. All of the other sets that seller sold were for $1400+. Please post the other 3 links for these phantom PCGS Signature 70 sets selling for $1300 (unless he bought them off eBay which is understandable - no $100 eBay fee).
<< <i>I did get one on ebay for $1300 and when you add ebay bucks and credit card rewards it made set only $1260 not bad. I save my credit card points every year and pay it on house.Try to make it really count. >>
Yes, you got a really good deal on that one. After you bought it (must of only been on there a few minutes), they raised their price to $1400. It is nice people are listing these sets as something other than bullion so eBay Bucks can be earned.
Yes others were not bought on ebay. I hope they are good deals. Was the First Strike part included in the Mercanti label cost $250 or was it $18 per coin extra?
[ < I thought I jump in at $1600 for PCGS 70 sets, glad I waited. If they hit $1100-$1200 may jump in again. >>
So, it you wanted, how can you jump in again? At what price did you jump in?
<< Graded PCGS 70 sets have hit below $1300. >>
When was that? I have been tracking every PCGS 70 auction (that I know about) for the past two weeks and haven't seen but a couple below $1400 (non-signature sets). There was on guy on another thread claiming he watch a 70 set with an opening bid of $600 close w/o a bid. I call BS! - NEVER MIND - HE WAS TALKING ABOUT THE 20TH ANNIVERSARY SET! Another PCGS sold for $1288. Not a Mercanti
<< <i>< I thought I jump in at $1600 for PCGS 70 sets, glad I waited. If they hit $1100-$1200 may jump in again. >>
So, it you wanted, how can you jump in again? At what price did you jump in?
<< Graded PCGS 70 sets have hit below $1300. >>
When was that? I have been tracking every PCGS 70 auction (that I know about) for the past two weeks and haven't seen but a couple below $1400 (non-signature sets). There was on guy on another thread claiming he watch a 70 set with an opening bid of $600 close w/o a bid. I call BS! - NEVER MIND - HE WAS TALKING ABOUT THE 20TH ANNIVERSARY SET! Another PCGS sold for $1288. Not a Mercanti
Yes, there are "flyers" every now and then (kind of like patterning a chock on a shotgun - 95% of the pellets are in the kill zone while there are always a few flyers outside the zone). Beside, no Mint box, etc which I believe will lowers the price. That and I think most are trying to grab the Signature sets. That one closed before i got home (it was on my watch list) and I may have thrown a bid at it had I been able two prior to it getting to the price it sold for. I would like to get a couple of these black stripe label to convert to flag label should the proceeds put weight the cost. But, they would have to be lower than what this one sold for.
For the big sellers, is there a holiday pattern to stuff like this? As an example, right now video game systems on eBay are selling at list price. If they hold to prior year patterns, they will go up about $100/week between now and Christmas week and will then be selling at 2X list (because stores and lower cost dealers will all be out). I know cash flow issues have been beaten to death on here, but is it likely people are leaving money on the table, or does the deluge of sets destroy any such patterns?
I wonder what GoldMart was thinking? I think they probably bought most of the sets from other sellers at $380 as advertised (before the release date-Oct.27) "We were paying $380.00 per set" -goldmart.
and with all the grading fees.. I think they will probably be making $200-$300 per 70 set sold. But what about those sets that were graded lower than 70 and the fees to have those graded?
I still don't know how much profit they will make with those prices ($1250 for PCGS 70 Mercanti Set)
<< <i>Goldmart charges a $50 shipping fee if using credit card. That seems very high.
Anyone know anything about this company? >>
No Mint box, etc. I believe the retail sales are higher if you include the Mint's OEM packaging considering the slabs fit real nice in the Mint's wood box. At least on eBay. I know, it is the coin that matters but alot of collectors want the Mint stuff to go with their slab. IMOP, it just takes up room.
I utililized the online chat feature at the Goldmart site and asked about the OGP. They said to request the original Mint packaging by sending them an email with the order number after completing the order.
<< <i>I utililized the online chat feature at the Goldmart site and asked about the OGP. They said to request the original Mint packaging by sending them an email with the order number after completing the order. >>
Cool. I wonder if the shipping is a flat $50 for one or more per order?
Update:
I put three sets in my cart and the shipping/credit card fee is 123.08. However, pay by personal check and it is $19.96
<< <i>Sorry if this has been asked and answered, but have the TV pitches started on these? >>
Apparently you haven't been watching the HSN..Coin Vault has been selling these as fast as they can get them or have had them in stock...also combining then with a the 2006 set...even selling the RPs combined at a hefty price at market prices.
I have had excellent experiences with Goldmart, mostly buying bullion this year. I have a PCGS70 Mercanti set from them, they added the OGP when I requested it at no extra charge, but I don't know if they'll do it for everyone.
But I guess the reason I posted their price was that this puts a new ceiling on prices for these sets. Earlier posts from today that the floor was holding at $1400 went poof, as long as Goldmart has inventory.
<< <i>I wonder what GoldMart was thinking? I think they probably bought most of the sets from other sellers at $380 as advertised (before the release date-Oct.27) "We were paying $380.00 per set" -goldmart.
and with all the grading fees.. I think they will probably be making $200-$300 per 70 set sold. But what about those sets that were graded lower than 70 and the fees to have those graded?
I still don't know how much profit they will make with those prices ($1250 for PCGS 70 Mercanti Set) >>
You got the math right. If you assume that the early bulk submitter got 70% graded 70, you still see a nice profit.
Let's do a quick calculation for the return of 10 sets. Cost for 10 sets = 10 * $400 (let's call it 400 per set) = $4,000 Cost for 10 sets grading = $1,250 * 2 + $200 (shipping and insurance) = $2,700 Total cost for 10 sets = $6,700
Lets assume they get 7 70sets, and 3 69sets. If they sell the 3 69sets at $600 = $1,800 The 7 70sets = $1,250 *7 = $8,750 Total revenue = $10,550
Assume they have other cost involved (credit card fee, ship to customers...etc) = $500
Total Profit for 10 sets = $10,550 - $6,700, - $500 = $3,350
Return on investment = 3,350/6700 *100% ~ 50%NOT TOO BAD!
However, if they acquire their coin from the market at $3,500 per bo5, they are looking at an increase of cost by $3,000 per 10 sets. Their profit will be substantially less ==> If the MS70 sets come down to $1,100 ~ $1,200 level, it will be cheaper to buy a MS70 set than brought one and send them grade.
OR put it in another word, if the MS70 sets come down to $1,100 ~ $1,200 level, grading will not be profitable even at 70% rate.
I had to register to get the prices. They just sent me an email with my user name and PASSWORD. GREAT!!!! I love it when websites spread your password all over the cyber world.
I had already registered with them about a month ago as I saw their ad on the PCGS authorized dealers list here on the PCGS site, and was checking out their prices and site prior. This is the first time I am purchasing from them.
The Mercanti lables are a white elephant. Far from adding a premium to this issue, the market's discounting them. If you look on eBay, there appears to be a glut of them available, whereas most of the flag sets are still being graded.
Can you imagine being a dealer who stocked up on hundreds of these sets?
You know, you bring up an interesting fact. I have seen some eBay sellers stating they are "Authorized PCGS Dealers." So????? Do you need to buy from an authorized dealers for them to honor the warranty?
<< <i>The Mercanti lables are a white elephant. Far from adding a premium to this issue, the market's discounting them. If you look on eBay, there appears to be a glut of them available, whereas most of the flag sets are still being graded.
Can you imagine being a dealer who stocked up on hundreds of these sets? >>
Will see. Besides, if there is a huge difference in price, just get them relabeled for $168.
<<< The Mercanti lables are a white elephant. Far from adding a premium to this issue, the market's discounting them. If you look on eBay, there appears to be a glut of them available, whereas most of the flag sets are still being graded. >>>
They are probably being discounted because of possibly perceived quality issues. These were the sets that mostly were sent in from dealers early on when they were grading 70's at a very high rate.
<< <i>I wonder what GoldMart was thinking? I think they probably bought most of the sets from other sellers at $380 as advertised (before the release date-Oct.27) "We were paying $380.00 per set" -goldmart.
and with all the grading fees.. I think they will probably be making $200-$300 per 70 set sold. But what about those sets that were graded lower than 70 and the fees to have those graded?
I still don't know how much profit they will make with those prices ($1250 for PCGS 70 Mercanti Set) >>
Let's do a quick calculation for the return of 10 sets. Cost for 10 sets = 10 * $400 (let's call it 400 per set) = $4,000 Cost for 10 sets grading = $1,250 * 2 + $200 (shipping and insurance) = $2,700 Total cost for 10 sets = $6,700
Lets assume they get 7 70sets, and 3 69sets. If they sell the 3 69sets at $600 = $1,800 The 7 70sets = $1,250 *7 = $8,750 Total revenue = $10,550
Assume they have other cost involved (credit card fee, ship to customers...etc) = $500
Total Profit for 10 sets = $10,550 - $6,700, - $500 = $3,350
Return on investment = 3,350/6700 *100% ~ 50%NOT TOO BAD!
However, if they acquire their coin from the market at $3,500 per bo5, they are looking at an increase of cost by $3,000 per 10 sets. Their profit will be substantially less ==> If the MS70 sets come down to $1,100 ~ $1,200 level, it will be cheaper to buy a MS70 set than brought one and send them grade.
OR put it in another word, if the MS70 sets come down to $1,100 ~ $1,200 level, grading will not be profitable even at 70% rate. >>
So... I'm close to my prediction of $200-$300 profit per set. But that's assuming they received 70% PCGS70. But what if they got only 50% (and thats a good %)... then this would be a bad business decision. Considering Apmex are selling sets almost double that price.
If this dealer is selling at $1250 I can see these even going lower. They may have a better sense of what's going on overall in the market than by me just watching ebay.
<< <i>I wonder what GoldMart was thinking? I think they probably bought most of the sets from other sellers at $380 as advertised (before the release date-Oct.27) "We were paying $380.00 per set" -goldmart.
and with all the grading fees.. I think they will probably be making $200-$300 per 70 set sold. But what about those sets that were graded lower than 70 and the fees to have those graded?
I still don't know how much profit they will make with those prices ($1250 for PCGS 70 Mercanti Set) >>
Let's do a quick calculation for the return of 10 sets. Cost for 10 sets = 10 * $400 (let's call it 400 per set) = $4,000 Cost for 10 sets grading = $1,250 * 2 + $200 (shipping and insurance) = $2,700 Total cost for 10 sets = $6,700
Lets assume they get 7 70sets, and 3 69sets. If they sell the 3 69sets at $600 = $1,800 The 7 70sets = $1,250 *7 = $8,750 Total revenue = $10,550
Assume they have other cost involved (credit card fee, ship to customers...etc) = $500
Total Profit for 10 sets = $10,550 - $6,700, - $500 = $3,350
Return on investment = 3,350/6700 *100% ~ 50%NOT TOO BAD!
However, if they acquire their coin from the market at $3,500 per bo5, they are looking at an increase of cost by $3,000 per 10 sets. Their profit will be substantially less ==> If the MS70 sets come down to $1,100 ~ $1,200 level, it will be cheaper to buy a MS70 set than brought one and send them grade.
OR put it in another word, if the MS70 sets come down to $1,100 ~ $1,200 level, grading will not be profitable even at 70% rate. >>
So... I'm close to my prediction of $200-$300 profit per set. But that's assuming they received 70% PCGS70. But what if they got only 50% (and thats a good %)... then this would be a bad business decision. Considering Apmex are selling sets almost double that price. >>
You're definitely off on one sale estimate. Today, I just sold TO APMEX 3 PCGS69 FS Flag label sets for $2400 or $800/set.
Actually, they are selling them for about what a person on eBay would realize after fees and shipping (most sellers on there are offering free shipping) if they sold for $1400 if you pay Goldmart with a check.
<< <i>If this dealer is selling at $1250 I can see these even going lower. They may have a better sense of what's going on overall in the market than by me just watching ebay. >>
As for me, I don't see these sets going lower. That would mean the dealer/seller would just about break even with grading fees and all that. I don't see them letting go of these sets if they can't profit out of it.
Comments
Doesn't make sense. Graded PCGS 70 sets have hit below $1300. Unless he wanted one to complete a 70 set. I thought I jump in at $1600 for PCGS 70 sets, glad I waited. If they hit $1100-$1200 may jump in again. Interesting to see how this market is behaving. Dealers may be buying these up at these prices. The only problem in keeping these 70 sets long term is the spotting issue. At least a year from now before true prices emerges for this set. I would not sell in this market.
Box of 20
The only way to make an economic system truly stable is to permit the free market to take over.
<< <i>The flood of graded coins has invoked the law of supply and demand, especially on ebay. Those that don't need a quick flip for financial reasons should sit on their graded 25th ASEs - prices will get strong once the flipping has flipped. >>
I still have the 7 sets I originally bought and none are for sale anytime soon. So I agree with you.
<< <i>The flood of graded coins has invoked the law of supply and demand, especially on ebay. Those that don't need a quick flip for financial reasons should sit on their graded 25th ASEs - prices will get strong once the flipping has flipped. >>
I like it - "once the flipping has flipped."
Last 8 Completed listings:
$1,499.00 Dec 9 08:15 Auction
$1,400.00 Dec 8 21:24 Buy it Now
$1,401.10 Dec 8 21:20 Auction
$1,400.00 Dec 8 21:13 Buy it Now
$1,405.00 Dec 8 21:10 Auction
$1,404.99 Dec 8 20:50 Auction
$1,476.00 Dec 8 20:40 Auction
$1,425.00 Dec 8, 20:38 Auction
<< <i>I thought I jump in at $1600 for PCGS 70 sets, glad I waited. If they hit $1100-$1200 may jump in again. >>
So, it you wanted, how can you jump in again? At what price did you jump in?
<< <i>Graded PCGS 70 sets have hit below $1300. >>
When was that? I have been tracking every PCGS 70 auction (that I know about) for the past two weeks and haven't seen but a couple below $1400 (non-signature sets). There was on guy on another thread claiming he watch a 70 set with an opening bid of $600 close w/o a bid. I call BS! - NEVER MIND - HE WAS TALKING ABOUT THE 20TH ANNIVERSARY SET!
<< <i>I been selling my NGCs and buying the Mercanti sets. It is not a bad deal when you consider the cost difference of the grading. I did buy my first Mercanti set for $1575 but got other 4 for $1300 so not too bad.I will buy a few more if price gets cheaper. Laters >>
F
Funny how people are getting these really low prices. They must not be buying on eBay because the sales records don't support their claim.
<< <i>
<< <i>I been selling my NGCs and buying the Mercanti sets. It is not a bad deal when you consider the cost difference of the grading. I did buy my first Mercanti set for $1575 but got other 4 for $1300 so not too bad.I will buy a few more if price gets cheaper. Laters >>
F
Funny how people are getting these really low prices. They must not be buying on eBay because the sales records don't support their claim. >>
Here ya go. $1300 MS 70 Mercanti set
<< <i>I did get one on ebay for $1300 and when you add ebay bucks and credit card rewards it made set only $1260 not bad. I save my credit card points every year and pay it on house.Try to make it really count. >>
Since I started seeing PCGS69 sets going for around the $700s,I was able to sell 3 PCGS 69 Flag FS sets to APMEX for $800.00 each. Yesterday they were paying $25 more per set,but I was happy doing it today anyway. I have a 70 set and a couple of mixed sets that I will hold onto for better days.
<< <i>
<< <i>
<< <i>I been selling my NGCs and buying the Mercanti sets. It is not a bad deal when you consider the cost difference of the grading. I did buy my first Mercanti set for $1575 but got other 4 for $1300 so not too bad.I will buy a few more if price gets cheaper. Laters >>
F
Funny how people are getting these really low prices. They must not be buying on eBay because the sales records don't support their claim. >>
Here ya go. $1300 MS 70 Mercanti set >>
Yes that is ONE set - NOT 4 and was already discussed here. All of the other sets that seller sold were for $1400+. Please post the other 3 links for these phantom PCGS Signature 70 sets selling for $1300 (unless he bought them off eBay which is understandable - no $100 eBay fee).
<< <i>I did get one on ebay for $1300 and when you add ebay bucks and credit card rewards it made set only $1260 not bad. I save my credit card points every year and pay it on house.Try to make it really count. >>
Yes, you got a really good deal on that one. After you bought it (must of only been on there a few minutes), they raised their price to $1400. It is nice people are listing these sets as something other than bullion so eBay Bucks can be earned.
[ < I thought I jump in at $1600 for PCGS 70 sets, glad I waited. If they hit $1100-$1200 may jump in again. >>
So, it you wanted, how can you jump in again? At what price did you jump in?
<< Graded PCGS 70 sets have hit below $1300. >>
When was that? I have been tracking every PCGS 70 auction (that I know about) for the past two weeks and haven't seen but a couple below $1400 (non-signature sets). There was on guy on another thread claiming he watch a 70 set with an opening bid of $600 close w/o a bid. I call BS! - NEVER MIND - HE WAS TALKING ABOUT THE 20TH ANNIVERSARY SET! Another PCGS sold for $1288. Not a Mercanti
L=PCGS 70 $1288]http://www.ebay.com/itm/2011-25th-Anniversary-Silver-Eagle-5-Coin-Set-First-Strike-PCGS-70-MS70-PR70-/370566925469?pt=LH_DefaultDomain_0&hash=item5647828c9d[/L]
I jumped in way to early on my Mercanti PCGS 70 set at $2150.
Box of 20
<< <i>< I thought I jump in at $1600 for PCGS 70 sets, glad I waited. If they hit $1100-$1200 may jump in again. >>
So, it you wanted, how can you jump in again? At what price did you jump in?
<< Graded PCGS 70 sets have hit below $1300. >>
When was that? I have been tracking every PCGS 70 auction (that I know about) for the past two weeks and haven't seen but a couple below $1400 (non-signature sets). There was on guy on another thread claiming he watch a 70 set with an opening bid of $600 close w/o a bid. I call BS! - NEVER MIND - HE WAS TALKING ABOUT THE 20TH ANNIVERSARY SET! Another PCGS sold for $1288. Not a Mercanti
PCGS 70 $1288 >>
Yes, there are "flyers" every now and then (kind of like patterning a chock on a shotgun - 95% of the pellets are in the kill zone while there are always a few flyers outside the zone). Beside, no Mint box, etc which I believe will lowers the price. That and I think most are trying to grab the Signature sets. That one closed before i got home (it was on my watch list) and I may have thrown a bid at it had I been able two prior to it getting to the price it sold for. I would like to get a couple of these black stripe label to convert to flag label should the proceeds put weight the cost. But, they would have to be lower than what this one sold for.
<< <i>I jumped in way to early on my Mercanti PCGS 70 set at $2150 >>
I thought you had said earlier that you bought one over $2k. I bought one for $1600 and wish I had waited. Remember, dollar cost averaging!!
Wow - very tempting.....
Anyone know anything about this company?
I wonder what GoldMart was thinking?
I think they probably bought most of the sets from other sellers at $380 as advertised (before the release date-Oct.27)
"We were paying $380.00 per set" -goldmart.
and with all the grading fees.. I think they will probably be making $200-$300 per 70 set sold.
But what about those sets that were graded lower than 70 and the fees to have those graded?
I still don't know how much profit they will make with those prices ($1250 for PCGS 70 Mercanti Set)
Perhaps they just want to move them out as prices continue to weaken, or perhaps they bought a large lot of them from another dealer who wanted out?
On another note, I'm surprised how relatively well the sealed box prices on Ebay have been holding up with the price on graded sets falling so fast.
<< <i>Goldmart charges a $50 shipping fee if using credit card. That seems very high.
Anyone know anything about this company? >>
No Mint box, etc. I believe the retail sales are higher if you include the Mint's OEM packaging considering the slabs fit real nice in the Mint's wood box. At least on eBay. I know, it is the coin that matters but alot of collectors want the Mint stuff to go with their slab. IMOP, it just takes up room.
<< <i>I utililized the online chat feature at the Goldmart site and asked about the OGP. They said to request the original Mint packaging by sending them an email with the order number after completing the order. >>
Cool. I wonder if the shipping is a flat $50 for one or more per order?
Update:
I put three sets in my cart and the shipping/credit card fee is 123.08. However, pay by personal check and it is $19.96
<< <i>Sorry if this has been asked and answered, but have the TV pitches started on these? >>
Apparently you haven't been watching the HSN..Coin Vault has been selling these as fast as they can get them or have had them in stock...also combining then with a the 2006 set...even selling the RPs combined at a hefty price at market prices.
But I guess the reason I posted their price was that this puts a new ceiling on prices for these sets. Earlier posts from today that the floor was holding at $1400 went poof, as long as Goldmart has inventory.
You can test out an order of 2 during checkout and see what the shipping charges are.
I ordered one and requested the original OGP like the online agent told me to do.
Good to know that you have purchased from them before Bigole.
<< <i>I wonder what GoldMart was thinking?
I think they probably bought most of the sets from other sellers at $380 as advertised (before the release date-Oct.27)
"We were paying $380.00 per set" -goldmart.
and with all the grading fees.. I think they will probably be making $200-$300 per 70 set sold.
But what about those sets that were graded lower than 70 and the fees to have those graded?
I still don't know how much profit they will make with those prices ($1250 for PCGS 70 Mercanti Set)
You got the math right. If you assume that the early bulk submitter got 70% graded 70, you still see a nice profit.
Let's do a quick calculation for the return of 10 sets.
Cost for 10 sets = 10 * $400 (let's call it 400 per set) = $4,000
Cost for 10 sets grading = $1,250 * 2 + $200 (shipping and insurance) = $2,700
Total cost for 10 sets = $6,700
Lets assume they get 7 70sets, and 3 69sets.
If they sell the 3 69sets at $600 = $1,800
The 7 70sets = $1,250 *7 = $8,750
Total revenue = $10,550
Assume they have other cost involved (credit card fee, ship to customers...etc) = $500
Total Profit for 10 sets = $10,550 - $6,700, - $500 = $3,350
Return on investment = 3,350/6700 *100% ~ 50%NOT TOO BAD!
However, if they acquire their coin from the market at $3,500 per bo5, they are looking at an increase of cost by $3,000 per 10 sets. Their profit will be substantially less ==> If the MS70 sets come down to $1,100 ~ $1,200 level, it will be cheaper to buy a MS70 set than brought one and send them grade.
OR put it in another word, if the MS70 sets come down to $1,100 ~ $1,200 level, grading will not be profitable even at 70% rate.
<< <i>It's $50 if you use a credit card. $15 if use check or money order.
You can test out an order of 2 during checkout and see what the shipping charges are.
I ordered one and requested the original OGP like the online agent told me to do.
Good to know that you have purchased from them before. >>
i did three - came out to $1256.65 paying by check.
really? 70%? I would think that's kind of high. But then I only got 8/25 coins make the 70 grade, so perhaps my experience is jaded.
What have others experienced as far as % making the 70 grade?
Mark
<< <i>
Cost for 10 sets grading = $1,250 * 2 + $200 (shipping and insurance) = $2,700 >>
For PCGS Mercanti labels submitted through dealer bulk grading? Seems low to me.
<< <i>
<< <i>
Cost for 10 sets grading = $1,250 * 2 + $200 (shipping and insurance) = $2,700 >>
For PCGS Mercanti labels submitted through dealer bulk grading? Seems low to me. >>
$1,250 for bo5. I think I read it from Mint News Blog from a user reply.
Please correct me if I am wrong.
I had already registered with them about a month ago as I saw their ad on the PCGS authorized dealers list here on the PCGS site, and was checking out their prices and site prior. This is the first time I am purchasing from them.
Edited for clarification.
Can you imagine being a dealer who stocked up on hundreds of these sets?
<< <i>
<< <i>
<< <i>
Cost for 10 sets grading = $1,250 * 2 + $200 (shipping and insurance) = $2,700 >>
For PCGS Mercanti labels submitted through dealer bulk grading? Seems low to me. >>
$1,250 for bo5. I think I read it from Mint News Blog from a user reply.
Please correct me if I am wrong. >>
Oh, OK, I read it completely wrong.
I had a Bo5 graded via a dealer bulk submission and Mercanti labels were $750 for a Bo5.
So, now that seems high! LOL
Sorry 'bout that.
<< <i>The Mercanti lables are a white elephant. Far from adding a premium to this issue, the market's discounting them. If you look on eBay, there appears to be a glut of them available, whereas most of the flag sets are still being graded.
Can you imagine being a dealer who stocked up on hundreds of these sets? >>
Will see. Besides, if there is a huge difference in price, just get them relabeled for $168.
<< <i>
<< <i>
Cost for 10 sets grading = $1,250 * 2 + $200 (shipping and insurance) = $2,700 >>
For PCGS Mercanti labels submitted through dealer bulk grading? Seems low to me. >>
I think there is an additional fee of $250 per set for Mercanti labels.
I'm not sure though.
They are probably being discounted because of possibly perceived quality issues. These were the sets that mostly were sent in from dealers early on when they were grading 70's at a very high rate.
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<< <i>I wonder what GoldMart was thinking?
I think they probably bought most of the sets from other sellers at $380 as advertised (before the release date-Oct.27)
"We were paying $380.00 per set" -goldmart.
and with all the grading fees.. I think they will probably be making $200-$300 per 70 set sold.
But what about those sets that were graded lower than 70 and the fees to have those graded?
I still don't know how much profit they will make with those prices ($1250 for PCGS 70 Mercanti Set)
Let's do a quick calculation for the return of 10 sets.
Cost for 10 sets = 10 * $400 (let's call it 400 per set) = $4,000
Cost for 10 sets grading = $1,250 * 2 + $200 (shipping and insurance) = $2,700
Total cost for 10 sets = $6,700
Lets assume they get 7 70sets, and 3 69sets.
If they sell the 3 69sets at $600 = $1,800
The 7 70sets = $1,250 *7 = $8,750
Total revenue = $10,550
Assume they have other cost involved (credit card fee, ship to customers...etc) = $500
Total Profit for 10 sets = $10,550 - $6,700, - $500 = $3,350
Return on investment = 3,350/6700 *100% ~ 50%NOT TOO BAD!
However, if they acquire their coin from the market at $3,500 per bo5, they are looking at an increase of cost by $3,000 per 10 sets. Their profit will be substantially less ==> If the MS70 sets come down to $1,100 ~ $1,200 level, it will be cheaper to buy a MS70 set than brought one and send them grade.
OR put it in another word, if the MS70 sets come down to $1,100 ~ $1,200 level, grading will not be profitable even at 70% rate. >>
So... I'm close to my prediction of $200-$300 profit per set. But that's assuming they received 70% PCGS70.
But what if they got only 50% (and thats a good %)... then this would be a bad business decision.
Considering Apmex are selling sets almost double that price.
Box of 20
<< <i>
<< <i>
<< <i>I wonder what GoldMart was thinking?
I think they probably bought most of the sets from other sellers at $380 as advertised (before the release date-Oct.27)
"We were paying $380.00 per set" -goldmart.
and with all the grading fees.. I think they will probably be making $200-$300 per 70 set sold.
But what about those sets that were graded lower than 70 and the fees to have those graded?
I still don't know how much profit they will make with those prices ($1250 for PCGS 70 Mercanti Set)
Let's do a quick calculation for the return of 10 sets.
Cost for 10 sets = 10 * $400 (let's call it 400 per set) = $4,000
Cost for 10 sets grading = $1,250 * 2 + $200 (shipping and insurance) = $2,700
Total cost for 10 sets = $6,700
Lets assume they get 7 70sets, and 3 69sets.
If they sell the 3 69sets at $600 = $1,800
The 7 70sets = $1,250 *7 = $8,750
Total revenue = $10,550
Assume they have other cost involved (credit card fee, ship to customers...etc) = $500
Total Profit for 10 sets = $10,550 - $6,700, - $500 = $3,350
Return on investment = 3,350/6700 *100% ~ 50%NOT TOO BAD!
However, if they acquire their coin from the market at $3,500 per bo5, they are looking at an increase of cost by $3,000 per 10 sets. Their profit will be substantially less ==> If the MS70 sets come down to $1,100 ~ $1,200 level, it will be cheaper to buy a MS70 set than brought one and send them grade.
OR put it in another word, if the MS70 sets come down to $1,100 ~ $1,200 level, grading will not be profitable even at 70% rate. >>
So... I'm close to my prediction of $200-$300 profit per set. But that's assuming they received 70% PCGS70.
But what if they got only 50% (and thats a good %)... then this would be a bad business decision.
Considering Apmex are selling sets almost double that price. >>
You're definitely off on one sale estimate. Today, I just sold TO APMEX 3 PCGS69 FS Flag label sets for $2400 or $800/set.
<< <i>If this dealer is selling at $1250 I can see these even going lower. They may have a better sense of what's going on overall in the market than by me just watching ebay. >>
As for me, I don't see these sets going lower. That would mean the dealer/seller would just about break even with grading fees and all that.
I don't see them letting go of these sets if they can't profit out of it.
Just my opinion.