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With all the strong/weak market threads lately, I have a question.

keetskeets Posts: 25,351 ✭✭✭✭✭
in U.S. Coin Forum

What have prices done on PCGS PR70 Modern coins done?? I just looked at a price on a coin and it seems that if you "invested" in Proof 70 Deep Cameo coins for Set Registry points during the past decade that right now you're getting slaughtered. Prices all look down to me as a result of the double whammy --- growing numbers and a slow market. Hopefully everyone who parked money there for the Set Registry position have enjoyed the move up in the ranks.

Al H.

Comments

  • ZoinsZoins Posts: 34,401 ✭✭✭✭✭
    edited February 11, 2019 4:22AM

    I never got into paying premiums for 70s but I did get a ICG MS70 2006 gold ounce Buffalo for bullion price at the time. With the current gold value, I'm at double what I paid :)

    I hope everyone else is doing ok and still collecting coins. I do remember Laura's warnings about the premiums way back then.

    Private Mint News | 2010 Lincoln Reverse Finalists
  • keetskeets Posts: 25,351 ✭✭✭✭✭
    edited February 11, 2019 4:38AM

    I got out of the Set Registry because, JMHO, what started as a way for collectors to interact and share their collections with each other turned into an ego driven "competition" to be Number One. I had mainly one Set that I attended to, Proof Jefferson Nickels w/Varieties and I was ranked at 4-5 for awhile with no 70's.

    here's what made no sense --- at the time, participants were buying 70's and moving up for the same price as a single 1950-1959 Deep Cameo issue which would move a Set nowhere. all the coins in the Set have taken a dive but I can never foresee the 70's recovering, the really scarce/rare Deep Cameos will.

    no offense meant to Mr. Hansen, but his collection(s) seems to be the ultimate expression of the Set Registry concept. many collectors were scooped up by it.

  • CoinstartledCoinstartled Posts: 10,135 ✭✭✭✭✭
    edited February 11, 2019 5:17AM

    I still recall the $10,000 Lincoln Cent graded 70. 69 was about $60 if memory serves.

    Think that it turned and got bought back by PCGS.

  • jmlanzafjmlanzaf Posts: 37,020 ✭✭✭✭✭

    I actually think the registry rarities are eventually going to collapse. There's a limit to ego. At some point, that expensive plastic is just going to seem like expensive plastic.

    All comments reflect the opinion of the author, even when irrefutably accurate.

  • jmlanzafjmlanzaf Posts: 37,020 ✭✭✭✭✭

    @Cameonut said:

    Fast forward 15 years. You can now get the same silver Wisconsin 70 quarter for $50 on ebay, a loss of value of 90%. The 69 can be had for $11 for a loss of 45%. Furthermore, there are now 39 proof state quarter registry sets with all 100 coins graded 70 - I'll repeat - 39 #1 sets!!!

    Am I upset? No - I learned a ton about "investing" in modern proof coins. I feel good about quitting the registry before I got hooked in the hype. My only regret is that I could have purchased a much rarer proof cameo from the '50s for the same money.

    Totally agree.

    I think people will come to the same realization in classic coins. There isn't the same population issue. But if you can have the #2 set for $50k and the #1 set for $250k...are you going to spend the extra $200k just to have a miniscule overall improvement when you could be buying something else?

    All comments reflect the opinion of the author, even when irrefutably accurate.

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    The grading game tends to create competition... People want 'the best'....Just seems to be human nature. I see it all the time and in many different venues....The nicest car, the best handgun/rifle, art in all forms. In coins I have seen rather rapid changes in value concerning top grade specimens. What is hot today, may be tepid soup tomorrow....well, maybe not quite that fast...but the above stories certainly support my observations. Buy what you like and be happy.... that is good advice, but will never satisfy the competitive spirit in many collectors. Cheers, RickO

  • jmlanzafjmlanzaf Posts: 37,020 ✭✭✭✭✭

    @bronco2078 said:
    The registry is competitive because most people have soft easy lives devoid of substance . Pointless competitions fill some human need . If it wasn't that it would be tulip bulbs or page views on a youtube channel

    Cheer up pretty soon we will all be too busy digging through dumpsters for food scraps to worry overmuch about such trivia :D

    Thank God you'll be able to burn the sports cards for heat.

    All comments reflect the opinion of the author, even when irrefutably accurate.

  • bronco2078bronco2078 Posts: 10,425 ✭✭✭✭✭

    @jmlanzaf said:

    @bronco2078 said:
    The registry is competitive because most people have soft easy lives devoid of substance . Pointless competitions fill some human need . If it wasn't that it would be tulip bulbs or page views on a youtube channel

    Cheer up pretty soon we will all be too busy digging through dumpsters for food scraps to worry overmuch about such trivia :D

    Thank God you'll be able to burn the sports cards for heat.

    I don't have any sports cards I'm so screwed

  • shorecollshorecoll Posts: 5,447 ✭✭✭✭✭

    I was at a show yesterday and saw PC70 Kennedys in a bargain bin for $5...and no I didn't buy them either. There were no obvious issues, just apparently unloved.

    ANA-LM, NBS, EAC
  • Cougar1978Cougar1978 Posts: 8,842 ✭✭✭✭✭
    edited February 11, 2019 9:07AM

    Never bit into the 70 craze find them a tough sell vs a 69 at fraction of the price.

    A really sharp vest pocket trader friend told me once “if they offer you a 70 on the bourse about 40 pct MV that might be a deal otherwise pass.”

    I will leave the 70 game to the billionaires.

    Investor
  • YQQYQQ Posts: 3,343 ✭✭✭✭✭

    IMO, there are those who simply have to do it simply for bragging rights and to be able to say: "I have it all, I can afford it, here is the link to my set" and "oh, btw, I got all these beauties at the mint"....they are scarce and limited.

    and then there are others who simply enjoy sharing their coins with the world. they truly want you to see some super coins and share the beauty with everyone... :)
    these collectors usually have the real coinage, like the stuff which is seldom shiny and probably goes never, or only seldom higher than a 66 grade... IF you are lucky!
    these are the real collectors. They hunt for the missing coin until they get it. It can take them years to complete their
    Registry set. :)
    Their sets values usually goes through the roof over time as they elected Quality and rarity over quantity and advertising.

    @jmlanzaf said:

    I actually think the registry rarities are eventually going to collapse. There's a limit to ego. At some point, that expensive plastic is just going to seem like expensive plastic.

    you must be kidding : a limit to ego?
    just look at a certain Mr. D. T. he has an ego so big and growing daily , it does not fit into his head.

    Today is the first day of the rest of my life
  • ParadisefoundParadisefound Posts: 8,588 ✭✭✭✭✭
    edited February 11, 2019 10:05AM

    Don't place all of your eggs in A basket and don't shell it out just to inch your ego up :#
    The top registries hover over most and attract a lot of wannabes hunting for those few thus inflating the asking price.
    Please your egoless self and have a forever happy life in coin collecting or any other aspect of living <3

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