Options
2001 $1 Buffalo Silver Dollar NGC PF70 UC & MS70
awfireman
Posts: 7 ✭
Hello All,
After investing in Bullion the past 5 years I am starting to dabble with coins, mostly PF70 gold and silver eagles. I have an opportunity to purchase 2 coins...both 2001 Buffalo Silver Dollars -PF70 UC and MS70 graded by NGC. Both coins are in NGC holders and are signed by Congressman Mike Castle who I guess had a huge hand in the US Mint Statehood Quarters program. Its a set. I can purchase both coins for $535.00. To expensive or a good deal? I have a long-term horizon as far as holding the coins.
0
Comments
Here is pictures of the coins
Really nice prices. I like em
Welcome to the forum
Real nice!
I love the coin itself but I don't think that signature adds additional value. Check ebay for ended auctions on 70's to see how good the deal is.
Hello crazyhound. Thank you for the welcome message. I figured this would be a great place to share my interest in numismatics and maybe learn something in the process. I am fairly new to coin buying and still learning! Do you think this is a good price for both coins...$535.00. I bid on a NGC PF70 2001 Buffalo on ebay....I didnt win the bid and it sold for $450. I am assuming the this is a reasonable deal but wanted some opinions. I love the coins but dont want to overpay, I hear of this often and dont want to be a "casualty" because of my lack on knowledge and prices.
Backside of coins...Too me, the Buffalo is an American Icon (and reminds of of the old west) and I love this coin. I did some research and know only 273,00 proofs were minted out of the Philly Mint, and only about 900 have been graded PF70 by PCGS and NGC combined. The uncirculated coin is being sold separately but if I buy the PF, might as well by the MS as well. It is a set and maybe would be worth more if I had both coins if I ever decided to sell??
I myself was like you buying Bullion and now ventured off into MS, SP, PF70's. Also now into Civil war / Tokens of all types. I have not been buying the buffalo nickles I prefer PCGS over NGC. The later seems to be lack on their grading and what might be a 70 wont cut it in the PCGS world. Plus you get a higher value in PCGS over NGC. Am I right well I think so. Do I own NGC yes I do. But now I try to buy only PCGS. I do like the older NGC labels and have bought a few because of that. Those were Morgan and Peace dollars. I like the Silver Dollars and I see those are dollars which I never even knew they made them. I do think the price is high even though I do own many signature pieces. I like certain Labels even though some here say buy the coin and not the label. Who is right would be very subjective.
I would see what people are paying for that coin at Ebay. Even with the signature it can be difficult to get your money back especially if your buying at the high cost. Have I paid for something like that at those prices yes. There are some here who can tell you if the nickle / dollar is worth that much. I do not have that knowledge. I look at how many coins are graded to that standard. Do you know how many of them are in that Grade? Lower population can also bring higher money. Good luck on your buying and its a good thing to bring it here there are some expert nickle guys. They look nice. PCGS they would look even better.
I see you had a older example of one similar selling at 450. That might be a good reference point. Do you have a link to that past sale. I always make a copy of other past sales for reference especially if I am seriously looking to buy. Refreshes my memory. Sometimes I cant find them cause I have so many files in my coin file! Silly me. One other thing lately I have been having doubts if what I buy will earn me my money back when it does come time to sell. Only time will tell then but its just a sickness I cant stop buying.
Welcome, you seem to be going about this the right way and learning before buying. The Buffalo dollars have been one of the mint's more popular issues and there is probably some upside on the value. The price for both seems pretty good as well, not a steal, but good. If that is what you like then you likely won't get hurt on the deal. Collecting is about getting what pleases you, so get what you like. Who knows where the bug will take you. Maybe next something with more history or you may just stack bullion. Take your time and learn before spending your money and you will do fine.
That price seems in line with recent eBay auctions for coins in regular label NGC holders. I don’t know if the special label carries any premium.
Thanks for all the replies. I truly appreciate it. After doing some research myself, I think the price is reasonable and I am going to buy both coins. I searched ebay for similar coins (PF70 and MS70) and their just aren't many out there in a set for auction or to buy outright.. One guy has PF70 & MS70 for sale @ $888.000 which seems very high. One PF70 I bid on about 2 weeks ago sold for $450, so for additional $85 I own both coins. Glad I waited.
-Fireman
My advice on items that commonly show up on eBay like modern coins in Ms/pr 70 - research recent sale prices, stick to a fair price and don’t get caught up in bidding, with patience you’ll get the coin you want at the price you want. Don’t forget to watch auctions at places like Heritage, Stacks Bowers etc you can find some really good deals there (keep in mind the buyers pay + 20% and shipping)
Sweet !!!
@awfireman... Welcome aboard... They are very nice coins and the set price seems to be in the ball park. Since you mentioned you would likely be holding for the long term, let me mention that this can be a two-edged sword. Sometimes, with new issues, the fervor forces prices very high - then with time they settle back, and those that purchased in the frenzy will likely never recoup their investment. These coins, however, have been out for 17 years, and the price range seems fairly solid now. Cheers, RickO
Investing in this kind of material will probably prove to be disappointing in the long run. The collector base is aging and slowly shrinking. In addition, the US Mint is pumping out far, far too many Non-Circulating Legal Tender (NCLT) issues such as this.
Congratulations on your research and caution, both of which will pay you the greatest dividends over time (more than any other!) in this hobby. Welcome, and I wish you well!
Here's a warning parable for coin collectors...
The 5 spot is retail.. buying and selling these for years... PCGS is a good way to go... NGC is cheaper than PCGS.. the coins have been in a downtrend for years.. but the proof is pretty... look on the bay... you will get a better price
Are the marks between the "TY" on the Proof and under the Bison scratches on the slab? Otherwise, it is not a 70!
I had no idea these held their value so well. I recall when they first came out. I slipped in an order for a 2 coin set from the Mint after hesitating. Glad I did. I recall that they were so popular and after they sold out there were some suggestions that the Mint strike some more, sort of a second edition, with an identifying mark. That idea ended up going no where. I also thought it was neat that this commem program was silver dollars only - no gold - so I could get the whole set.
NGC 70's tend to be LOCK PCGS 69'S.
I tried to blow that up and zoom in, kind of looks like it's on the slab itself. Hard to say. Good eye!
I missed these coins when they first came out, (they sold out quite briskly). But a couple years ago, I bought the pair just not graded. These look beautiful and that price seems about right for graded 70's. Great start & welcome aboard Fireman~
You should be able to get more results on past sales than just the one $450 example.
In ebay, do the search on the item and grade, but in the left panel, check "sold items", instead of current items.
This should show the items that have sold in the past 30-60 days.
Yes, these marks are on the slab, not the coin. I took possession of both coins today and they seem flawless and exceeded my expectations. The pictures do not do these coins justice. My Dad, who is a Silver Eagle Proof PF70 Collector (among others) and a PCGS fan as well, said these coins would grade 70 no matter who graded them. He ispected them with that little jewelers lense, He also stated that they may have been under extra scrutiny by the NGC grader seeing they would signed by Congressman Mike Castle. I know it doesn't add much value to the coin, but I cannot find any other Silver Buffs where the slab has been signed by him. After doing some research on Ebay, there are several MS70s that are being bid up to $195, and found several PF70 being bid up to $400, one of which I bid on 2 weeks ago that sold for $450 and didnt purchase. I don't think I overpaid, nor do I think I got a steal....somewhere in the middle. After seeing the coins first hand, I am very happy with the purchase.
These look beautiful and that price seems about right for graded 70's. Great start & welcome aboard Fireman~
Thank-you Onastone. And thanks for the warm greetings! I appreciate all the different opinions I received to my post and think I made a good purchase without overpaying.....time will tell I guess. My next purchase will be a PF70 Modern Gold Buffalo but want to know the best year to buy as its a much larger and expensive purchase. Maybe someone can give me a few ideas on what years may be best. I can do most of the research myself, but a starting point as far as rarity,total mintage,etc would great.
Thanks again everyone,
-Fireman
Here's what I found for 2001 $1 Buffalo PF-70 NGC UCam or PCGS DCam unsigned sold
$275 NGC UCam 4-18-2018
$285 PCGS DCam 4-19
$278 PCGS DCam 4-17
$299 NGC UCam 4-9
$253 NGC UCam 4-1
$210 PCGS DCam 3-31
$365 PCGS DCam 3-25
$279 PCGS DCam 3-24
$330 NGC UCam 3-18
$279 PCGS DCam 3-17
$600 PCGS DCam 3-17 [Why pay $600??]
$327 PCGS DCam 3-17
etc.
https://www.ebay.com/sch/i.html?_from=R40&_nkw=2001+buffalo&_sacat=+US&Grade=PR%2070&LH_Sold=1&LH_Complete=1
If I was buying I would wait until I could get one for under $280. I would not pay extra for the signature.
The above list has a lot of price variation.
It suggests to me that some people are not researching sold prices and waiting for a good price.
https://www.moderncoinmart.com/featured/pre-sale/index2.html
I love both the coins.