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lot of 1600+ PCGS 1976-S PR69DCAM Dimes

UtahCoinUtahCoin Posts: 5,345 ✭✭✭✭✭
What would you pay for them? I'm thinking $1 a slab, or less.....
I used to be somebody, now I'm just a coin collector.
Recipient of the coveted "You Suck" award, April 2009 for cherrypicking a 1833 CBHD LM-5, and April 2022 for a 1835 LM-12, and again in Aug 2012 for picking off a 1952 FS-902.

Comments

  • oih82w8oih82w8 Posts: 11,846 ✭✭✭✭✭
    As a lot? One Dollar a piece would sound about right...good luck dumping them for more.
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  • MonsterCoinzMonsterCoinz Posts: 1,508 ✭✭✭✭✭
    Why that coin has a population of 6900+ I will never understand. PR70DCAM is only $115. Even at $1/slab, it's going to take at least a decade to get rid of them.
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  • KyleKyle Posts: 1,821 ✭✭✭✭✭
    Originally posted by: mach1ne

    Even at $1/slab, it's going to take at least a decade to get rid of them.


    I agree. I wouldn't buy them for $1/slab - That's $1,600 in inventory that will be sitting around for a very long time (They would take up a lot of space as well).



    How much could you even sell them for anyway? $2-$3 each? After a while the pool of buyers would shrink drastically, especially knowing how many just got pushed onto the market at once.



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  • CacoinguyCacoinguy Posts: 279 ✭✭✭
    Id take them for $1 per coin if you want to make a quick profit
  • cmerlo1cmerlo1 Posts: 7,890 ✭✭✭✭✭
    I wouldn't buy them. 1976-dated coins are the 1883 'No Cents' or 1950-D nickels of our time. They have been saved in such quantities that they will not ever be particularly valuable compared to the rest of the series unless really high grade.
    You Suck! Awarded 6/2008- 1901-O Micro O Morgan, 8/2008- 1878 VAM-123 Morgan, 9/2022 1888-O VAM-1B3 H8 Morgan | Senior Regional Representative- ANACS Coin Grading. Posted opinions on coins are my own, and are not an official ANACS opinion.
  • ElKevvoElKevvo Posts: 4,054 ✭✭✭✭✭
    I would go with the 'or less'. They could be good giveaways at shows for YN's or ??



    K
    ANA LM
  • JJSingletonJJSingleton Posts: 1,400 ✭✭✭✭✭
    Originally posted by: mach1ne

    Why that coin has a population of 6900+ I will never understand. PR70DCAM is only $115. Even at $1/slab, it's going to take at least a decade to get rid of them.
    This is kind of my initial reaction, but what I really ask is how the heck does someone end up with 1600 of these to sell in the first place.



    Joseph J. Singleton - First Superintendent of the U.S. Branch Mint in Dahlonega Georgia

    Findley Ridge Collection
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  • TopographicOceansTopographicOceans Posts: 6,535 ✭✭✭✭
    Originally posted by: ElKevvo
    I would go with the 'or less'. They could be good giveaways at shows for YN's or ??

    K


    That's what I was thinking. Don't buy them as inventory, but as a deductible advertising expense.

    Print up some removable labels that say "Thank You for Visiting Utah Coin"
  • bestdaybestday Posts: 4,220 ✭✭✭✭
    10 for $18.95 on the Bay.... also ... offer in 100 lots there are some that will bite
  • braddickbraddick Posts: 22,943 ✭✭✭✭✭
    It's a stunningly beautiful one year type coin!


    Wait. . .






    Oh.


    No... it's not. . .

    image

    peacockcoins

  • joebb21joebb21 Posts: 4,732 ✭✭✭✭✭
    The rest of the inventory is ridiculous.

    I thought they did PM's not this "stuff"

    1500x of this.

    1800x of that...

    crazy.


    Bid strong as alot of people are looking to collect.


    Tulving sale*
    may the fonz be with you...always...
  • DrBusterDrBuster Posts: 5,301 ✭✭✭✭✭
    Originally posted by: TopographicOceans

    Originally posted by: ElKevvo

    I would go with the 'or less'. They could be good giveaways at shows for YN's or ??



    K




    That's what I was thinking. Don't buy them as inventory, but as a deductible advertising expense.



    Print up some removable labels that say "Thank You for Visiting Utah Coin"




    This. Done. Charity/marketing.

  • JBatDavidLawrenceJBatDavidLawrence Posts: 500 ✭✭✭✭✭
    I'd take them all, but the problem is the shipping expense! You have to figure that into all of the bids and I don't even know where to start with that...
    John Brush
    President of David Lawrence Rare Coins www.davidlawrence.com
    email: [email protected]
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  • brg5658brg5658 Posts: 2,384 ✭✭✭✭✭
    I'd pay $160...AKA face. image
    -Brandon
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    My sets: [280+ horse coins] :: [France Sowers] :: [Colorful world copper] :: [Beautiful world coins]
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  • fivecentsfivecents Posts: 11,207 ✭✭✭✭✭
    Originally posted by: JBatDavidLawrence
    I'd take them all, but the problem is the shipping expense! You have to figure that into all of the bids and I don't even know where to start with that...


    Yeah, imagine the weight and bulk of 1600 plastic slabs. Thats 80 pcgs blue boxes.
  • rickoricko Posts: 98,724 ✭✭✭✭✭
    This is a white elephant sale..... no way would I even consider such a buy... I am not a coin dealer, however, I am a business man.... and that would not be logical. Cheers, RickO
  • AboutAgAboutAg Posts: 201 ✭✭
    Where did you all find this? This is indeed an auction of the coins seized by the Secret Service that belonged to The Tulving Company. Tulving creditors didn't get a chance to see the catalog until this morning.
  • BStrauss3BStrauss3 Posts: 3,079 ✭✭✭✭✭
    I figure 1600 69s (is what was left when you sent in 2k raw and sold the 70s.
    -----Burton
    ANA 50 year/Life Member (now "Emeritus")
  • Walkerguy21DWalkerguy21D Posts: 11,094 ✭✭✭✭✭
    I'm just thinking about the poor person or persons who graded all of these dimes!

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  • AboutAgAboutAg Posts: 201 ✭✭
    FWIW, the auction items can be found at http://about.ag/TulvingAuctionCatalog.htm in a slightly more readable format.
  • BaleyBaley Posts: 22,658 ✭✭✭✭✭
    Don't think I'd want, 1, 5, or 10 of these, even if free.



    You'd have to pay me to take 1600 of them off yer hands

    Liberty: Parent of Science & Industry

  • UtahCoinUtahCoin Posts: 5,345 ✭✭✭✭✭
    Originally posted by: BStrauss3
    I figure 1600 69s (is what was left when you sent in 2k raw and sold the 70s.


    This is exactly what I was thinking
    I used to be somebody, now I'm just a coin collector.
    Recipient of the coveted "You Suck" award, April 2009 for cherrypicking a 1833 CBHD LM-5, and April 2022 for a 1835 LM-12, and again in Aug 2012 for picking off a 1952 FS-902.
  • UtahCoinUtahCoin Posts: 5,345 ✭✭✭✭✭
    Originally posted by: AboutAg
    Where did you all find this? This is indeed an auction of the coins seized by the Secret Service that belonged to The Tulving Company. Tulving creditors didn't get a chance to see the catalog until this morning.


    Yep, Tulving coins.
    I used to be somebody, now I'm just a coin collector.
    Recipient of the coveted "You Suck" award, April 2009 for cherrypicking a 1833 CBHD LM-5, and April 2022 for a 1835 LM-12, and again in Aug 2012 for picking off a 1952 FS-902.
  • MonsterCoinzMonsterCoinz Posts: 1,508 ✭✭✭✭✭
    Bids must be mailed? I thought we were in the 21st century..



    Someone brave should bid on lot 250:

    "Lot of assorted bits and pieces.(Total: 33 pieces)"



    image
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  • 291fifth291fifth Posts: 23,880 ✭✭✭✭✭
    I'd pass on them. The cost of selling them is likely to exceed the amount they would generate.
    All glory is fleeting.
  • crazyhounddogcrazyhounddog Posts: 13,772 ✭✭✭✭✭
    Why?
    The bitterness of "Poor Quality" is remembered long after the sweetness of low price is forgotten.
  • AboutAgAboutAg Posts: 201 ✭✭
    Originally posted by: mach1ne
    Someone brave should bid on lot 250:
    "Lot of assorted bits and pieces.(Total: 33 pieces)"


    You can get a hint if you go through the Secret Service inventory, and compare it to the auction items. Think of it as a grab bag.

    I've also got a spreadsheet showing the face value and spot value for each auction item, to help those who are thinking of bidding.
  • planetsteveplanetsteve Posts: 1,425 ✭✭✭✭
    I'm a bit lost here. I got the Tulving reference and did some background reading. What a terrific fella. However I'm not seeing a link where I can view any of this. Can someone help?
  • AboutAgAboutAg Posts: 201 ✭✭
    Originally posted by: JBatDavidLawrence
    I'd take them all, but the problem is the shipping expense! You have to figure that into all of the bids and I don't even know where to start with that...


    Assuming they are in PCGS boxes:

    1,600 coins, 80 PCGS boxes. A typical PCGS holder with a penny/nickel/dime/quarter would weigh about 34-37g. Let's call it 34g for a dime in a PCGS holder. A PCGS box weighs about 300g (10.4oz).

    1,600 times 34 is 54,400g for the slabs, and 80 times 300g is 24,000g for the boxes. That's 78,400g for the lot, or 2,765oz, or 173 pounds.

    20 PCGS boxes (each 9"x2.75"x3.5") can fit in one cardboard box 14" wide, 15" high and 10" long. That would be 4 cardboard boxes each weighing 43.25lb, rounding up to 44lb accounts for the weight of the cardboard box and packing material.

    Shipped via FedEx from Dallas (where the coins are now) to a Boston residential address, no insurance (you pay Heritage .5%) would be $231.60 for 3-day service. That works out to $.145/coin for shipping (if my math is right). It could be more/less depending on how many boxes, size of the boxes (e.g. if oversized), if you used UPS or USPS instead, etc.

  • davewesendavewesen Posts: 5,729 ✭✭✭✭✭
    they split it up

    lot 45 842 coins
    lot 46 795 coins
  • BaleyBaley Posts: 22,658 ✭✭✭✭✭
    That works out to $.145/coin for shipping (if my math is right). It could be more/less depending on how many boxes, size of the boxes (e.g. if oversized), if you used UPS or USPS instead, etc.



    Didn't check the math, but trust you, and that doesn't sound outrageous amount of money to simply ship them from place to place.



    Now, what's it cost in time, space, and energy from your life to store them and then get rid of them again?



    Subtract that number, in addition to the cost of the lot and shipping, from what you can reasonably expect to receive for them, to calculate the potential profit.



    (make sure you add back to the "profit" column the intangible amount of Fun you'll have doing all this image )

    Liberty: Parent of Science & Industry

  • davewesendavewesen Posts: 5,729 ✭✭✭✭✭
    Originally posted by: planetsteve
    I'm a bit lost here. I got the Tulving reference and did some background reading. What a terrific fella. However I'm not seeing a link where I can view any of this. Can someone help?


    http://about.ag/pics/bk/HA_Tulving_Catalog.pdf
  • TopographicOceansTopographicOceans Posts: 6,535 ✭✭✭✭
    PCGS must have loved Haines.

    He's got tens of thousands of modern coins in slabs.

    I might try putting in some bids on his PM's @ ~20% back of spot to cover the BP
  • BochimanBochiman Posts: 25,283 ✭✭✭✭✭
    Gotta love rule #4 in the auction pdf.....



    Descriptions are general guides only, and should not be relied upon for grading or quantity.








    Ummm, excuse me, how can you morally, and legally, describe a quantity of something then refuse to honor it saying that it can't be relied upon? Particularly if you are talking about 500+????



    Either do your jobs and make it accurate, or don't describe any numbers.

    I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment

  • AboutAgAboutAg Posts: 201 ✭✭
    So did anyone bid?
  • bestdaybestday Posts: 4,220 ✭✭✭✭
    Originally posted by: TopographicOceans
    PCGS must have loved Haines.

    He's got tens of thousands of modern coins in slabs.

    I might try putting in some bids on his PM's @ ~20% back of spot to cover the BP




    PCGS made out on the grading fees Realized Prices anywhere ?

  • AboutAgAboutAg Posts: 201 ✭✭
    I've now heard from several people that bid, including two who bid on many/most/all items.

    As soon as I find out the prices realized, I'll try to post here.

    From what I gather, it sounds like some lots went for around retail prices, while at least many others had realistic prices (obviously a lot of 1,600 1976 proof dimes won't go for retail). From what I hear, the brave soul who bid on the "bits and pieces" lot spent over $20 for it (including fees).
  • AboutAgAboutAg Posts: 201 ✭✭
    As soon as I find out the prices realized, I'll try to post here


    Total Prices Realized was $460,513.06 (including buyer's premium: about $385,300 going to Tulving creditors).

    Lots 45+46, the 1,600+ PR69 1976-S dimes, went for $3,146.44 (including the 19.5% buyer's premium). That's $1.92/coin plus shipping, so perhaps about $2.05 each.
  • epcjimi1epcjimi1 Posts: 3,489 ✭✭✭
    Originally posted by: AboutAg
    As soon as I find out the prices realized, I'll try to post here


    Total Prices Realized was $460,513.06 (including buyer's premium: about $385,300 going to Tulving creditors).

    Lots 45+46, the 1,600+ PR69 1976-S dimes, went for $3,146.44 (including the 19.5% buyer's premium). That's $1.92/coin plus shipping, so perhaps about $2.05 each.


    My guess is $46,513.60. $31,464.40 after b/p for both lots, 45 +46. Best I can do. the
    $385,300 going to Tulving creditors is a wild card.
  • AUandAGAUandAG Posts: 24,506 ✭✭✭✭✭
    Spend an extra $50 for a great sticker with you name and number and use as a business card.



    Might make a lot more than $1,650 with that idea. Turn lemons into lemonade.





    bobimage
    Registry: CC lowballs (boblindstrom), [email protected]

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