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Do new "70's" made cause the price to drop on other 70's (but not the same coin)?

braddickbraddick Posts: 24,146 ✭✭✭✭✭
in PCGS Set Registry Forum
I've been looking for a PCGS MS70 Commemorative- any commemorative- for my Modern MS Registry set. Now, if a whole bunch of the 2002 Commemoratives are made in MS70, does that lower to some degree the price of other, much more scarce (in '70', that is) Modern Commemoratives?

It would seem it would. After all, I'm only looking for a Commemorative type in MS70. If one can be had (the recent 2002) for under $450.00 why would I pay the $700.00 asking price on most of the others?

So- even though more of the others are NOT made in MS70 would new 70's in the 2002 Commemoratives drop the price of them all?

peacockcoins

Comments

  • keithdagenkeithdagen Posts: 2,025 ✭
    Yes and no, IMO.

    Yes, for those commems like the Capitol commem that are treated more like a Type piece because it has so many graded 70. No for those that have low populations, and will be sought out by the series collectors. The West Point which inspired the thread, is seeing so many pieces that it will become a Type commem rather than a series commem.

    Keith
    Keith ™

  • braddickbraddick Posts: 24,146 ✭✭✭✭✭
    Keith- and I need to ad it isn't even a valid addition yet and won't be until the end of the year (unless PCGS changes their policy on adding new additions to the Registry).

    But, let's take it a step further. Lets say (and I know this is whacky, but bear with me) 50 New York state quarters were made in the grade of MS69. Lets also assume there are about three to five MS69 in maybe five or seven other states (I'm sure projecting way into the future here!). Would all those new MS69's in the NY state series have a ripple effect on the pricing of those other MS69's?
    I'd be curious.

    peacockcoins

  • keithdagenkeithdagen Posts: 2,025 ✭
    I think that it can cause a short term drop. One I can think of is the 2001-D Kennedy in MS-68. When several pieces were made at once and several more P mints were made, you could buy either one at about the same price, even though there were twice as many P mints as D mints. The coins were priced assuming that many more D mints would be found. Instead, the population expanded astronomically on the P mint, but the D mint settled quickly, with the P mint having 53 in 68 and the D mint 10.

    Keith
    Keith ™

  • supercoinsupercoin Posts: 2,323 ✭
    If we see increasing numbers of MS70 coins being graded, that may spark some concern that standards have once again relaxed a bit, and some of those old low-pop coins may be in danger of having some buddies soon.

    As to prices, beats me. image
    imageLibertarian Party
  • TWQGTWQG Posts: 3,145 ✭✭
    With 47 MS70 WestPoints made, that's 7.4% of all graded so far. I've got ten going off tomorrow. I'm hoping to make my own.

    Sean
    My eBay store
  • wondercoinwondercoin Posts: 16,965 ✭✭✭✭✭
    I've personally purchased and sold (17) MS70 West Point Commems so far (graded -0- myself) and I can tell you unequivocably that the coins were PERFECT in all respects. No grading standard change here imho.

    I do believe the cheapest MS70 price can impact other prices. But, also understand that I fully expect there to be a "base" price for MS70 simply because it is an important type coin and will likely support a level (I believe not too far off where they are today as any sort of "floor"). Kind of like the SMS Kennedy in MS70. Pop may well be far over 100, but coin still commands $700 or so. And, just like the 2001(d) Kennedy coin in MS68 Keith alluded to (most of the pop of which I owned and sold forum members way too cheap it appears), imho, the recent "flood" of West Point MS70 coins may have resulted in levels that could just as likely increase over time from here as decrease further to a reasonable "floor" level (which could surprise folks from the standpoint of pop vs. price). Wondercoin.
    Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
  • braddickbraddick Posts: 24,146 ✭✭✭✭✭
    That makes sense Mitch. I've got that 'wait and see' attitude with looking for a MS70 Commemorative. I know I will need to upgrade all my Commemoratives (including the gold and Plat.) in my Modern Registry to stay competitive, but am also hoping the prices may come down to my comfort level too. It's tough to pony up 10 X's (or, much more!) for the undergrade on a coin that is a little tough to spot between the two grades.
    (PS: I own one of those 2001-D MS68 Kennedies you made now. You do have a good eye in spotting these beauties and yes (!) You sold them WAY TO CHEAP! -But, who was to know then, right?

    peacockcoins

  • wondercoinwondercoin Posts: 16,965 ✭✭✭✭✭
    "You do have a good eye in spotting these beauties and yes (!) You sold them WAY TO CHEAP! -But, who was to know then, right? "

    Pat: One of the collectors who I sold one to (way too cheap) just spoke to me on the phone 5 minutes ago and decided to consign his entire Kennedy Half MS collection (unregistered "top 2 or 3 set") to me, which he is shipping out to me on Monday. Great collection of coins I plan to offer to forum members and other customers later this month. Stay tuned image Wondercoin.
    Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
  • keithdagenkeithdagen Posts: 2,025 ✭
    Sometimes the market anticipates something that doesn't happen. That was the case with the 2001 Kennedys. The pops were about to explode on both pieces, and then they dried up on the Denver issue.

    That could be the case here with the West Point commem as well. Right now, about 7% are coming in at MS-70, and coins are prices accordingly. What happens if that percentage drops to next to nil as more are certified and the ending percentage is closer to 1% of all certified?

    Another example was the Capitol Vistitor Center gold commems. There are a large number of these graded in MS-70, but the total mintage of these pieces come in so small that anyone who bought a 70 at the initial bargain prices (2x issue), saw the value of the piece double or triple overnight.

    Keith

    Keith ™

  • braddickbraddick Posts: 24,146 ✭✭✭✭✭
    Mitch- Thanks for the heads up on the Kennedy set! This will give me an opportunity for "save up" in anticipation of picking up a few of those jewels (especially a MS66 1969-D! Where are they?!).

    peacockcoins

  • wondercoinwondercoin Posts: 16,965 ✭✭✭✭✭
    Pat: I will have a fully brilliant 1969(d) Kennedy in PCGS-MS66. I'll PM you for first shot on the coin. image Wondercoin.
    Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
  • supercoinsupercoin Posts: 2,323 ✭
    Posted this over in the Coin Forum, but here's probably a better place...

    As far as their quality, I don't doubt that. I haven't seen any non-deserving recently graded MS70s. But in the past there have been plenty of MS70 quality coins in MS69 holders. So I'm wondering if or why they're letting more into MS70 holders now.

    Or, put more favorably, perhaps they're taking the time to look more closely at deserving candidates instead of "rubber stamping" them MS69.

    I think overall it would be a good thing if they did start making more MS70 coins, so there weren't such huge price spikes for MS70 "label rarities".
    imageLibertarian Party
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