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Buy the Coin not the Holder, GTG ASE
Jinx86
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Customer was mad I wouldnt pay for the grade. Ill let this run awhile before giving it out, then Ill ask for some advice on how to take care of the problem.
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MS66? And the coin receiving a low grade is an obsurd reason to make you pay.
I see at least 4 hits and 2 spots.
<< <i>Customer was mad I wouldnt pay for the grade. Ill let this run awhile before giving it out, then Ill ask for some advice on how to take care of the problem.
>>
What does this mean exactly? Did they try and sell it to you at a grade on the holder you did not agree with? Or did you sell the coin to them and they expected some warranty on grade? Advise on the problem really depends on the answer to this question. If someone offers me a coin to purchase, and if I do not agree with the grade, I simply say that the "coin is not for me" without an explanation. Why is it that PCGS or NGC should be the only ones paid for their opinions?
Only place I could see this coin being sold would be on ebay, even then it might get returned.
So the coin is now with me. Whats the best way for someone to get rid of this? Send to PCGS, buy back? Dump on the market for a quick turn around?
<< <i>Coin is in a PCGS MS70 holder, customer brought it in with a collection to sell. I wouldnt buy the coin for the grade assigned and I told him why. Oh and theres a number of spots on back as well.
Only place I could see this coin being sold would be on ebay, even then it might get returned.
So the coin is now with me. Whats the best way for someone to get rid of this? Send to PCGS, buy back? Dump on the market for a quick turn around? >>
Send it back to PCGS, I'd be very interested to see how they handle this. Keep us informed.
Not really looking for much these days but if I were, it might be a toner.
<< <i>I'll guess it was in a 70 slab. >>
There will be a LOT more stories like this as people who bought into the MS70 craze start unloading their "perfect" little treasures.
how much is a 2012 ms70 worth? $65? Shipping to and from pcgs would eat the difference in grade...
<< <i>Send it back to PCGS, I'd be very interested to see how they handle this. Keep us informed. >>
Erik
Coin is being send, not due to the spots but the large hits.
<< <i>Well the coin is packaged and ready to ship off, we'll hear back in approx 60 days....
Coin is being send, not due to the spots but the large hits. >>
An MS70 coin is not "mark free" by definition. The marks on the coin have to elude the grader during the 3-5 second look at the coin. If it does....it gets an MS70 grade from that guy.
And it's obvious by the growing pops of modern MS70 ASE's that this is now meant as basically a 69+ grade. There are enough MS70 coins to create a decent market on the buy/sell side. But not so
few of them that the prices of them would be through the roof. The MS70 grade works here for the most part. An MS70 grade here is just not comparable to an MS70 grade on 90% US halves or dollars.
<< <i>
<< <i>Well the coin is packaged and ready to ship off, we'll hear back in approx 60 days....
Coin is being send, not due to the spots but the large hits. >>
An MS70 coin is not "mark free" by definition. The marks on the coin have to elude the grader during the 3-5 second look at the coin. If it does....it gets an MS70 grade from that guy.
And it's obvious by the growing pops of modern MS70 ASE's that this is now meant as basically a 69+ grade. There are enough MS70 coins to create a decent market on the buy/sell side. But not so
few of them that the prices of them would be through the roof. The MS70 grade works here for the most part. An MS70 grade here is just not comparable to an MS70 grade on 90% US halves or dollars. >>
I saw those marks in less than 5 seconds and I'm not a professional grader, this is not what an MS70 should look like imo.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
an "expected" hit rate of MS70's for the submitter. Ok, it's time for some logic and facts:
Out of 7500 2012-w ASE's submitted to PCGS, 48.5% made MS70. And a mere 28 graded MS68 or lower. So that's basically a coin flip between MS69 and MS70. How long to you think a grader would need to determine
whether the coin is 69 or 70 with an expected hit rate of 48/51% for those 2 grades? Probably a second per side, or nearly as fast as they can flip the coin over. So with basically a 50% split how can a buyer of a MS70
ASE actually expect to get a perfect coin, or even one w/o a mark of some sort? The MS69's have more marks than the MS70's. That's about all you can say. For a 1986-1988 ASE an MS70 is incredibly hard to find. And
they get easier as they years advance. By 2010, the MS70 pop is 3X the MS69 pop? How's that again? And in 2011 it's 4X. So either the mint got real good at white gloving these coins into the monster boxes or the
standards slipped a bit.....or both. I don't know as this is a question for Wondercoin. In 2003-2004 you can see the number of MS70's starting to ramp up sharply. I would think that coincided with the coin/PM's boom and the
demand for MS70's in sets. I'd love to see what an MS70 1988 or 1995 looks like.....there is only one of each date. 1989-1994 there are no MS70's graded.
Linky to pop report
<< <i>perhaps mechanical error >>
When 48% of the coins submitted grade MS70? That's not an error, that's the norm.
The next logical question is why should an MS70 2012 bring 4X the price of the MS69 when it is only 2X as scarce and probably of similar quality (one being lower to middle end MS69 and the other one higher end MS69).
There are enough MS69's graded to warrant an MS69+. But, it would be like assigning an MS70 grade to the pre-1996 years, an instant "rarity." Hence, a 69+ will have to be essentially a perfect coin for the recent years.
In my mind a MS69 2012 should be worth $25 and an MS70 slab maybe $35-$50. But if set collectors have to pay $125 to get one....such is the demand for a label to max out on REG set points.
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