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PCGS competition for VaultBox - Ultra Breaks
U1chicago
Posts: 7,009 ✭✭✭✭✭
It looks like PCGS has entered into a partnership with a company that is doing card break style events with coins.
Professional Coin Grading Service (www.PCGS.com) was selected to create and debut a set of limited-edition holographic labels for a new program of 2023 Morgan and Peace Dollars. The limited-edition holders are available via Ultrabreaks, an innovative new company offering the coins in sealed packs that reveal which of the three holders is within only after the packaging is unwrapped.
“PCGS is excited to be involved in a new and innovative project that brings the excitement of random chance seen in other collectibles to the coin market,” said PCGS President Stephanie Sabin. “We wish everyone the best of luck!”
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That’s even worse that Vaultbox. It’s literally the same coin with only the label being “rare”. Barf.
That is quite underwhelming but I could see it expand to random coins in the future.
I wouldn't call it "worse".
I would call it leveraging label collectibility. Holders and labels are collectible, that is a fact.
It probably is "better" for the marketplace to leverage the label or holder in a game of chance rather than relegate the coin to a sweepstakes game. The value differential is less enticing. I think PCGS is viewing the card break sensation carefully at this point.
This is getting to be like the junk wax era in cards. Errors and varieties made on purpose and hyped. Hope prices in coins don't follow that trend!
https://www.smallcopperguy.com
I get why they are doing it, but the only really collectible labels are those labels that have unintended rarity, like first generation PCGS 108s or Doilies. This is intended, artificially manufactured rarity…just like super ultra hologram 1/5 insert sportsball cards. There are plenty of people willing to pay for it, but it generally isn’t a good use of money.
Had to double check that it wasn’t April 1st.
I'll withhold final judgement until after I hear what @WQuarterFreddie thinks of this.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Talk about jumping the shark, disgusting. I consider myself a holder collector, but this is just an awful attempt to jump on a bandwagon.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Interesting concept. It is not for me to tell others what or how to collect. Enjoy the hobby however you wish.
Completed All CAC approved Classic Head $5 set https://www.pcgs.com/setregistry/mysetregistry/album/344241
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
In my opinion they are cheapening the brand. There’s Silver Eagles with over 100 different inserts for ONE YEAR….and slick marketing makes it appear that the labels with populations of one, two, three, or even 10 are somehow ‘rare.’ It really turned me off so much that I literally quit collecting SE’s. At least with older coins there’s no FDOI’s, First Releases, First Strikes, etc…..and no marketing ploys to reel us in.
Yes that is the danger with too many rare labels.
Lots of rarity, no demand.
And frustrated collectors to try and keep up.
Wonderful. You vote disorderly marketplace.
On Wall Street a disorderly market is defined as market manipulation, insider trading and price fixing, collusion.
Most would prefer an orderly market.
must bite my tongue on this one, or might be the dreaded boot
My first thought was about those posts that said PCGS would never do something like this. I wonder if any of them will comment on this thread?
I could be more impressed with a fancier label (something that has custom sketches/artwork like you mention).
I'm not impressed with this offering since it seems to just be a few colors and holograms (not much effort from my viewpoint).
Price for 2023 Unc. 'Morgan/Peace' U/B pack:
Source: https://ultrabreaks.com/products/ultrabreaks-peace-and-morgan-pcgs-ms70-pack-series
Edited to Add:
The PCGS 'pop report' currently shows some U/B coin numbers for the 2023 Proof 'Morgan/Peace' dollars. So, it look like a second release is in the works.
That looks nice 👍
Since it's only the label that matters, let's cut out the middleman and leave the coin out of the holder.
ANA 50+ year/Life Member (now "Emeritus")
Author: 3rd Edition of the SampleSlabs book, https://sampleslabs.info/
FWIW, the PCGS article in the OP quotes Justin Duane, owner of CoinsTV.
In the PCGS articles it says this:
“We’re thrilled to introduce a groundbreaking concept to the world of coin collecting – the very first 'packs of coins,’” said Justin Duane, owner of CoinsTV
Beat me to it!
I’d prefer vaultbox over this since you’re only paying up for for the slab that may or may not have any premium at the end of the day but to each his own.
I attempted to make a new post about this subject early this am but it’s still held up for review by PCGS. Is there a moderator that I can “@“ for them to just kill it since it’s now superfluous?
NGC and PCGS are making themselves the new ICG and ANACS. I hope CACG holds the line.
Too late. Remember the earliest days of talk about CACG - no modern coins, etc.?
ANA 50+ year/Life Member (now "Emeritus")
Author: 3rd Edition of the SampleSlabs book, https://sampleslabs.info/
Maybe we could just slab the labels
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I did not see anyone else mentioned. And I also don't know who he is.
No new 2 point grading scale to go along with it?
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
Two grades. 69 and 70 (or 9.9 and 10). Three if you also count "no."
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
Does anyone else keep reading this as "ultra beaks"?
In honor of the memory of Cpl. Michael E. Thompson
Wow! I read through the website and I have no interest in this product at all.
Good luck to those that want to buy it. I will be monitoring the website on release day. Personally I don't think they will sell out😂🤣
Only 600 packs available but who cares? Price is way too expensive in my opinion. Risk/Reward is to great on the Risk side and price point is way too high.
In my opinion VaultBox is a far superior product and caters to the trading card crowd mentality.
Ultra Breaks product is a big miss in my opinion, lacks imagination and misreads the intended market.
I am truly shocked PCGS is participating in this program.🤔
I thought everyone only collects labels nowadays, and the coins inside don’t matter?
What’s the difference between a common coin in a doily label and this new product?
Another difference is that that the doily label has a track record of people paying a premium.
I guess these coins selling at $249 is the premium, and no further upside shot from that. Common doilies should be ~$50 slabs, but their premium takes them into the multi hundred dollar range. That make sense. Probably should have priced these at the $129 number to create a better buzz for future releases.