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How is it Coins in Holders Sell for Less than $20 when Slabs Can Cost More?
Elemint
Posts: 479 ✭✭✭✭
I've seen a lot of coins in high grades especially now, sell for less than $20. For example:
2000 S SACAGAWEA DOLLAR PCGS PR69 DCAM $11.99 Buy It Now Free Shipping
I've been under the impression it cost approx $25 to have a single coin graded by PCGS, with rates going down to $16.00
or less per coin in bulk submissions. I'm sort of baffled!
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The PR70 coins make money, anything lower than that is byproduct to be dumped.
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
Lack of demand. Certain areas of collecting are fading away and as the demand fades so do the prices.
What @Sonorandesertrat said combined with bulk submission rates sometimes $10.00 per coin or less.
it's crackers to slip a rozzer the dropsy in snide
Yeah..the SAE's are a question mark. A large submitter noted that the cost to have a 70 slabbed was $40. Sounded odd but he was a man whose word was good.
Just a personal opinion: "Grading" of common material is mostly a con game, not a "coin game." Sending a common coin for "grading" is foolish, wasteful and diminishes the interest of new collectors due to the artificially high price of "graded" coins.
Maybe somebody lost money! (But not PCGS or NGC)
Many think their coins are better than they actually are.
Costs were actually significantly less back in that time frame. I don't remember exact costs, but I don't believe the handling charge was there, and the slabbing and shipping costs were less as well.
Overall, it doesn't pay to slab most moderns, for most people. The bulk submitters are the ones who have the best chance to make any money and, depending how many of them get into the game, prices can be quite high for awhile....then plummet when more of them enter that particular market.
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
The slabbed coin only has a value that exceeds the grading fee if the total package has that much value in the market.
We all make mistakes. I've sent in over 300 coins so far this year. Had a few duds, mostly modern pieces trying for FB's and high grades for Reg sets.
Lots of supply and loss of demand can be quite cruel to the wallet. That's my story and I'm sticking to it.
Just in the Sac series, going up 1 point can take it from a $15 to an $2700 coin, although not the coin above. It is a roll the dice, and dispose of the ones that do not make it.
supply and demand. buy slabbed often at bullion value.
Do huge submitters get a price break or no?
Great transactions with oih82w8, JasonGaming, Moose1913.
It can sneak up on you.
After a few years of buying lower MS coins with maybe some decent color on one side, some common CAM proofs, a couple of MS69 moderns......you end up with a pile of $25-$40, virtually unsellable coins. Forget about even breaking even.
"If I say something in the woods and my wife isn't there to hear it.....am I still wrong?"
My Washington Quarter Registry set...in progress
Try selling MS69 silver eagles at a show and most dealers will tell you they treat them the same as raw coins when buying.
I see MS69 holders sell for less then that in the $5.00 range mast will make there $$$ on MS70's then sell off the junk. Just to get there fee's back it all works out trust me.
Hoard the keys.
Big dealers get bulk rates. They can do a traditional bulk grade where they set minimums and pay for only the grades over the minimum as long as requirements are met. Others can work out a special deal where thousands of coins are sent in at a time, rates can get between $5-$10 a coin with certain exceptions.
I do like to gamble. though with reasonable odds on my bet. I would take a 'hop' bet at the dice table long before shelling out $2700 on a coin rather than $15 on the same modern coin a point? lower.
Years ago there was a dealer here in Florida who sent in a lot of modern coins for grading. He'd make his money on the slabs that came back in high grade, like PR-70. As for the rest, including the PR-69s, he would sell them for $5 each. He used to set up with a coin case open, turned backwards, toward the public at the shows. It was sort of an honor system, and he seemed to do well using that strategy.
Those 'cheap' slabs are great for new collectors and for building grading sets - though the majority of grades will not be found in slabs. Still, good for a beginner to have TPG grades to evaluate. Cheers, RickO
They make great stocking stuffers too!
BST transactions: dbldie55, jayPem, 78saen, UltraHighRelief, nibanny, liefgold, FallGuy, lkeigwin, mbogoman, Sandman70gt, keets, joeykoins, ianrussell (@GC), EagleEye, ThePennyLady, GRANDAM, Ilikecolor, Gluggo, okiedude, Voyageur, LJenkins11, fastfreddie, ms70, pursuitofliberty, ZoidMeister,Coin Finder, GotTheBug, edwardjulio, Coinnmore, Nickpatton, Namvet69,...
Yeah those are grade losers... Dump, recoup some cash, try again.
Submitting in bulk doesn't cost anywhere near $25 per coin is your answer and things like First Strike are included in the fee IIRC.
Bulk submitters can pay as low as $5 per coin on Moderns.
Some are. Some are simply bulk submitters slabbing hundreds of coins for $5 to $7 per coin.
Yes. And when they run a special, they can be paying as little as $5 per coin for the guy I know.
I would rather have coal! I can then use the coal to grill some bratwurst!
Now if it was me I would say send me the holder then I'll sell it then buy my coal for the grill and the bratwurst. But that's just me dumb Type2 thinking $20 bucks is $20 bucks.
Hoard the keys.
Simple answer: Added value minus interest= discount.
``https://ebay.us/m/KxolR5
I remember at a local show one dealer had a whole case full of those cheap $5 grading special slabs. Every cert number started off the same.
There may be the periodic specials as indicated. Anacs was recently charging $6 a coin in 10 coin lots if you know how to get the special like a dealer I know did. NGC has its "bucket" special at around $12 a coin including $100 plus coins; they have their bulk specials on Morgans, etc., starting around $5 a coin. Then you have sellers who will take losses, I have heard a lot of dealers talk about having more losers than winners on ebay; I sold a coin I spent $100 plus grading on for $60 today, once it got slabbed there was no economic sense trying again. You can't have too many "errors" or you aren't running any profits.