“But why did you buy it again so soon, when almost everyone here says it will go down in price? I don't think MCM will be as kind when, or if, this drops to $500.”
If “MCM” really refers to “MonsterCM” (Justin), it is not a question of “as kind”. Justin makes clear his auctions have no right of return as opposed to someone else who might offer 30 days. Justin loses at least 10% of the eBay fees I believe by not offering the 30 day return. He might also lose other “perks” with eBay. On the other hand, it is what his consignors want from what I understand.
No question that a 30 day return solves “buyer’s remorse”. But, it is another thing if there is a no return policy on a coin as part of the price and the buyer wants to return it when prices drop. That’s a whole different animal. Just my 2 cents.
Wondercoin
Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
@wondercoin said:
“But why did you buy it again so soon, when almost everyone here says it will go down in price? I don't think MCM will be as kind when, or if, this drops to $500.”
If “MCM” really refers to “MonsterCM” (Justin), it is not a question of “as kind”. Justin makes clear his auctions have no right of return as opposed to someone else who might offer 30 days. Justin loses at least 10% of the eBay fees I believe by not offering the 30 day return. He might also lose other “perks” with eBay. On the other hand, it is what his consignors want from what I understand.
No question that a 30 day return solves “buyer’s remorse”. But, it is another thing if there is a no return policy on a coin as part of the price and the buyer wants to return it when prices drop. That’s a whole different animal. Just my 2 cents.
Wondercoin
A certain irony that on two other threads, people are complaining that eBay is "forcing" them to accept returns. Meanwhile, on this thread, people are counseling people to make returns. We appear to hate eBay right up until we want to take advantage of the terms.
Let he who has never filed a chargeback cast the first stone.
Yeah Mitch, I would imagine these impulsive buying types of coins that skyrocket up and then plummet are a nightmare for sellers. No return policies can somewhat protect you, but....
then again, buyers have the ability to use the chargeback feature, as JM points out.
Another nightmare for sellers.
This new buyer that’s asking the questions seems unaware of market forces; so, are they still worth it to you to keep as customers?
Miles... Block Island quarters started at $250/coin BIN on eBay. How did those “impulsive buyers” do? Then there was the $400-$600/coin wave of buyers. In that wave we watched every coin we personally sold go up by about $1,000/coin in a matter of two weeks. How did those “impulsive buyers” do?
At $1,500+ a coin, I personally considered it a highly speculative buy (am I being too polite with that description). But, I also believed that the true grade through rate on the coin at that time was between 1%-2%. So, was $1,500 the top or not? All I knew was I would be a seller at $1500 not a buyer, but what do I know.
The coins “corrected” down to about a $1,000+ With 4-5 days left on the new round of open bids, these coins are already at $590-$610/coin. Otherwise, “smart” board members (who read every word of these threads) are locking in coin(s) with Justin now in private deals around the “new level” (with proper deductions for off eBay final sales). And, they are bidding on the new round of coins. So, will they remain $900-$1,100/coins for another week, another month, another year? I have no idea. But, if I collected proof quarters, I would personally need to buy one. Luckily, I only collect Mint State quarters and don’t need one for my (crazy) 600+ Coin 1932-date registry collection. Just my 2 cents. Wondercoin.
Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
@adcsarge1 said:
Well total current population 76. I needed the coin, I paid $1500 for it. Do you think I made a mistake or good gamble? I need a support group at the moment.
For what it worth it @adcsarge1 I can definitely understand you when you have "to have a coin" to fill a burning hole in your set. Been there twice in your shoes waiting long time to buy that one missing key to the set at what sounded like totally ridiculous price. I had waited like 2 years with 2004-W proof platinum quarter to come down in price I was willing to spend on it. It was like $3K at the time I had my set completed with only one missing and I sat waiting for it to come down to $1200 that I finally considered accepatble to pay. The said part it's probably worth half now but I stopped paying attention to their prices once I filled that hole :-) Simillar story with my gold proof Buffalos . I was missing 2008-W key for like 3 years till finally bought it this year. So if you feel you filled the void buy spending money for what was dear to you - enjoy!
PCGS hasn't had anyone TrueView a PF70 yet, so all they have for this coin are 3 PF69s of which show the scratches at the base of GW. Based on the graded #s this coin in PF70 is 4%, but we know more coins were submitted that didn't make 70, so the yield is much lower.....I bet the PF70 dollar is in the same boat...it should be a $1000 soon enough....a PF70 set is so rare especially compared to last years EU sets.....
@dmwest said:
PCGS hasn't had anyone TrueView a PF70 yet, so all they have for this coin are 3 PF69s of which show the scratches at the base of GW. Based on the graded #s this coin in PF70 is 4%, but we know more coins were submitted that didn't make 70, so the yield is much lower.....I bet the PF70 dollar is in the same boat...it should be a $1000 soon enough....a PF70 set is so rare especially compared to last years EU sets.....
Maybe. But remember the demand side of this. If there are only 45 Sac proof registry sets, 70 coins is more than anyone wants.
Maybe. But remember the demand side of this. If there are only 45 Sac proof registry sets, 70 coins is more than anyone wants.
When I earlier mentioned there were 50 Sacajawea Proof registry set collectors, that was just those who have 100% of all Sacs and had top sets last year in PR70 and it looked like only 5 had upgraded at that time.
There are actually 665 Sacajawea registry set collectors of just the Proofs and around 100 more only need a couple more coins to have 100% 70's, and another 50 that look like they are working towards 70's to move up the registry rating list. Then there are those 93 registry set collectors that collect both proofs and uncirculated.
jmlanzaf, My apologies as my prior post stating 45 did not have all of the information probably needed to evaluate the demand of these. I was just looking at the ones that I was fairly sure would want to get one of these in 70 early on and drive up prices, as they have all of them that way. Considering this is a reverse proof, I expect probably 500+ of them will want these in PR69 or better.
If the 70 pops stay low, I think this could still have upside to $500+ for a while. Not a lot of 70's out there for sale yet.
Maybe. But remember the demand side of this. If there are only 45 Sac proof registry sets, 70 coins is more than anyone wants.
When I earlier mentioned there were 50 Sacajawea Proof registry set collectors, that was just those who have 100% of all Sacs and had top sets last year in PR70 and it looked like only 5 had upgraded at that time.
There are actually 665 Sacajawea registry set collectors of just the Proofs and around 100 more only need a couple more coins to have 100% 70's, and another 50 that look like they are working towards 70's to move up the registry rating list. Then there are those 93 registry set collectors that collect both proofs and uncirculated.
jmlanzaf, My apologies as my prior post stating 45 did not have all of the information probably needed to evaluate the demand of these. I was just looking at the ones that I was fairly sure would want to get one of these in 70 early on and drive up prices, as they have all of them that way. Considering this is a reverse proof, I expect probably 500+ of them will want these in PR69 or better.
If the 70 pops stay low, I think this could still have upside to $500+ for a while. Not a lot of 70's out there for sale yet.
I wasn't arguing against you, just pointing out that we need the supply and demand side to make any kind of assessment. Same is true of the quarters. I'm not sure what the pop number is that tips the scale from surplus to deficit.
Well the pops going up is likely as more people see the potential and submitted. But, that not the important thing. If you look at other modern proof quarters the percentage that get the 70 grade is very small compared to the others. Just check out the pop reports. Looks like about 1 percent are getting 70. This could bode well for this coins future. COULD..
“Looks like about 1 percent are getting 70. This could bode well for this coins future. COULD..”
On just the coins we submitted there are roughly 800 prescreened Block Island quarters that PCGS never got to add to their pop report against the tiny group of 70s we did successfully slab. That is why any “pure ratio” of 69 vs. 70 is generally inaccurate.
Wondercoin.
Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
Comments
At least until they all ban him for excessive returns.
“But why did you buy it again so soon, when almost everyone here says it will go down in price? I don't think MCM will be as kind when, or if, this drops to $500.”
If “MCM” really refers to “MonsterCM” (Justin), it is not a question of “as kind”. Justin makes clear his auctions have no right of return as opposed to someone else who might offer 30 days. Justin loses at least 10% of the eBay fees I believe by not offering the 30 day return. He might also lose other “perks” with eBay. On the other hand, it is what his consignors want from what I understand.
No question that a 30 day return solves “buyer’s remorse”. But, it is another thing if there is a no return policy on a coin as part of the price and the buyer wants to return it when prices drop. That’s a whole different animal. Just my 2 cents.
Wondercoin
A friend of mine made and sold that coin.
A certain irony that on two other threads, people are complaining that eBay is "forcing" them to accept returns. Meanwhile, on this thread, people are counseling people to make returns. We appear to hate eBay right up until we want to take advantage of the terms.
Let he who has never filed a chargeback cast the first stone.
Yeah Mitch, I would imagine these impulsive buying types of coins that skyrocket up and then plummet are a nightmare for sellers. No return policies can somewhat protect you, but....
then again, buyers have the ability to use the chargeback feature, as JM points out.
Another nightmare for sellers.
This new buyer that’s asking the questions seems unaware of market forces; so, are they still worth it to you to keep as customers?
Miles... Block Island quarters started at $250/coin BIN on eBay. How did those “impulsive buyers” do? Then there was the $400-$600/coin wave of buyers. In that wave we watched every coin we personally sold go up by about $1,000/coin in a matter of two weeks. How did those “impulsive buyers” do?
At $1,500+ a coin, I personally considered it a highly speculative buy (am I being too polite with that description). But, I also believed that the true grade through rate on the coin at that time was between 1%-2%. So, was $1,500 the top or not? All I knew was I would be a seller at $1500 not a buyer, but what do I know.
The coins “corrected” down to about a $1,000+ With 4-5 days left on the new round of open bids, these coins are already at $590-$610/coin. Otherwise, “smart” board members (who read every word of these threads) are locking in coin(s) with Justin now in private deals around the “new level” (with proper deductions for off eBay final sales). And, they are bidding on the new round of coins. So, will they remain $900-$1,100/coins for another week, another month, another year? I have no idea. But, if I collected proof quarters, I would personally need to buy one. Luckily, I only collect Mint State quarters and don’t need one for my (crazy) 600+ Coin 1932-date registry collection. Just my 2 cents. Wondercoin.
For what it worth it @adcsarge1 I can definitely understand you when you have "to have a coin" to fill a burning hole in your set. Been there twice in your shoes waiting long time to buy that one missing key to the set at what sounded like totally ridiculous price. I had waited like 2 years with 2004-W proof platinum quarter to come down in price I was willing to spend on it. It was like $3K at the time I had my set completed with only one missing and I sat waiting for it to come down to $1200 that I finally considered accepatble to pay. The said part it's probably worth half now but I stopped paying attention to their prices once I filled that hole :-) Simillar story with my gold proof Buffalos . I was missing 2008-W key for like 3 years till finally bought it this year. So if you feel you filled the void buy spending money for what was dear to you - enjoy!
PCGS hasn't had anyone TrueView a PF70 yet, so all they have for this coin are 3 PF69s of which show the scratches at the base of GW. Based on the graded #s this coin in PF70 is 4%, but we know more coins were submitted that didn't make 70, so the yield is much lower.....I bet the PF70 dollar is in the same boat...it should be a $1000 soon enough....a PF70 set is so rare especially compared to last years EU sets.....
Don't quote me on that.
I bought a few pcgs PR-69 blocks. if I lose money, it won't be much, they should maintain a 10 value
Maybe. But remember the demand side of this. If there are only 45 Sac proof registry sets, 70 coins is more than anyone wants.
When I earlier mentioned there were 50 Sacajawea Proof registry set collectors, that was just those who have 100% of all Sacs and had top sets last year in PR70 and it looked like only 5 had upgraded at that time.
There are actually 665 Sacajawea registry set collectors of just the Proofs and around 100 more only need a couple more coins to have 100% 70's, and another 50 that look like they are working towards 70's to move up the registry rating list. Then there are those 93 registry set collectors that collect both proofs and uncirculated.
jmlanzaf, My apologies as my prior post stating 45 did not have all of the information probably needed to evaluate the demand of these. I was just looking at the ones that I was fairly sure would want to get one of these in 70 early on and drive up prices, as they have all of them that way. Considering this is a reverse proof, I expect probably 500+ of them will want these in PR69 or better.
If the 70 pops stay low, I think this could still have upside to $500+ for a while. Not a lot of 70's out there for sale yet.
National Commemorative Medals of the U.S. Mint:
https://www.pcgs.com/setregistry/u-s-coins/medals-tokens/national-commemorative-medals-united-states-mint-1940-present/alltimeset/195526
I wasn't arguing against you, just pointing out that we need the supply and demand side to make any kind of assessment. Same is true of the quarters. I'm not sure what the pop number is that tips the scale from surplus to deficit.
Did I get burned? I paid to much!
Guess the grade?
I guess PR69
Successful Trades: Swampboy,
LOL. We ALREADY KNOW you bought a bunch of 69s from L&C
I mean that was out there for only 5 seconds and you guys were on me like sharks!
@Gluggo - the grade is also shown at the end of the PCGS coin designation. In this case its 679996.69.
I just want ONE raw or 69 without the damn lines at the bust base!
Well, just Love coins, period.
Ohhh geeeez I just cant win!
Well the pops going up is likely as more people see the potential and submitted. But, that not the important thing. If you look at other modern proof quarters the percentage that get the 70 grade is very small compared to the others. Just check out the pop reports. Looks like about 1 percent are getting 70. This could bode well for this coins future. COULD..
I just got a message from ebay that L&C coin just lowered their price on Block Island PR 70 to $1200 from $1500.
Successful Trades: Swampboy,
Matched Justin’s $1,199.
Wondercoin
“Looks like about 1 percent are getting 70. This could bode well for this coins future. COULD..”
On just the coins we submitted there are roughly 800 prescreened Block Island quarters that PCGS never got to add to their pop report against the tiny group of 70s we did successfully slab. That is why any “pure ratio” of 69 vs. 70 is generally inaccurate.
Wondercoin.