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I was watching this auction just to see where it would end
gtstang
Posts: 1,810 ✭✭✭✭✭
That Washington commemorative half in pcgs ms69 used to be a $500+ coin...
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Looking at recent eBay sales, the Washington Commem Half sells for $40-$50 nowadays (with one sale under $35). So the result of the lot seems appropriate (especially considering most people would not want all of the 6 coins that were part of the lot).
Pass after 60 bucks.
yikes what a drop in value on the washington commem. Why would someone pay that much for a modern coin?
Many members on this forum that now it cannot fit in my signature. Please ask for entire list.
why was the Washington commemorative half in pcgs ms69 a 500 coin to begin with? low mintage? I don't collect commemoratives, just wondering
I have one of those Washington commems in a scrap silver tube. LOL
low population in MS69, now there are over 950 -
https://coins.ha.com/itm/modern-commemoratives/1982-d-s50c-washington-silver-half-dollar-ms69-pcgs-pcgs-population-105-0-ngc-census-65-0-mintage-2-210-458-numi/a/389-9689.s?ic4=GalleryView-ShortDescription-071515
Why submit one anyway?
I got over $600 thru Teletrade for the first one I made.
I sold one for $95 2 years ago.
The same reason half the junk that gets submitted gets submitted. People shoot for top pop. First one there sells the coin for a stupid amount of money encouraging 100 other people to try to win the lottery. Then, after top pop 67, there's a run at 68, then at 69, sometimes at 70. Someone has to foot the bill for the free forum.
Anyone who ponies up for a condition rarity, especially in moderns, has too much money and probably too much ego.
Registry sets were the most brilliant idea in coin certification EVER.
All comments reflect the opinion of the author, even when irrefutably accurate.
me, too.
Frankly, it's almost worth scrapping them all. Even in OGP, they are barely above melt
All comments reflect the opinion of the author, even when irrefutably accurate.
Yes, I suppose it is a Hail Mary play you will probably lose. I refuse to play the condition rarity game.
The Washington Commem was the first re-ignition of modern commemorative coins. The mintage was an anticipatory tsunami of 2,210,458 (an even more massive 4,894,044 in proof).
Everybody had to have one. The grading game obviously followed with them.
But the Mint then began their series of relentless commemorative production again, and the initial massive mintages for the Washington issue finally caught up with it. MS70s remain elusive, but otherwise they're easy to come by at 68 or below now. The surfeit of 69s is undoubtedly the product of Registry-driven resubmissions, as jmlanzaf has said.
Here's a warning parable for coin collectors...
Mine is a daily pocket piece. Has been for years. Fun coin.
A nice looking coin....and silver as well.... I do not have one, so maybe I will add it. Got to be some really cheap one's on ebay
Cheers, RickO
I agree fully with your points made, jmlanzaf. I believe moderns are a good way to stack bullion. I have been noticing that 7o's in some series-even gold and platinum-can be bought close to melt. Low downside risk presently IMO. Looking at some of the auction archives, there must have been a lot of people getting a skinning with these. There just being too many issues to 'collect' doesn't help. That is the biggest reason the bottom has all but fallen out of the market for most of the new issues.
The registry is a powerful drug.
TRIAPG.
"I spent 50% of my money on alcohol, women, and gambling. The other half I wasted.
I agree completely that the establishment of online registry sets was an act of pure marketing genius. Personally, I have never been attracted to "competitive collecting" at all. It just doesn't make sense to me. On the other hand, it is a huge attraction for the hobby, so we are all better off for it. I can't imagine how it must feel when you make a pop-top that becomes worth a great deal, then wake up one day to find that someone has made a higher grade & yours loses much of its prestige and value instantly.
Now listen boy, I'm tryin' to teach you sumthin' . . . . that ain't an optical illusion, it only looks like an optical illusion.
My mind reader refuses to charge me. . . . . . .