Busting Low Graded Coins Out of Grading Holders ?
Franklin_Fan
Posts: 45 ✭✭✭
With the price of silver today, do you think many low grade coins will be busted out of PCGS and NGC holders and other 3rd Party holders to be melted ? There were allot of stories that when silver hit 48 dollars plus in 2011 there was allot of that going on.
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I would think a PCGS or NGC holder coin priced at melt would be quickly resold without the need to be cracked out and melted.
The video linked below from a local coin store in Florida shows him cracking out a bunch of slabs to send to be melted. It does appear to be happening with some of the coins where there is no premium to be had for slabbed with the current silver and gold prices. There are also quite a few milk spotted slabbed coins that would generally sell at a discount and now there is a chance to dump these for many.
I could see (if prices continue to stay at these levels) where it would be financially viable to crack practically every MS68 or lower ASE, and MS63 or lower common date silver coins and send to the refinery.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Much easier to ship $1000 of quarters in a bag rather than in 4000 slabs.
All comments reflect the opinion of the author, even when irrefutably accurate.
Personally I hope a great many folk chose not to break lower grade coins out of slabs. I am very interested in some coins/dates that are probably in slabs but the owner was expecting a much higher grade. Fate and the graders went against them so they have these perfectly fine coins in perfectly fine slabs; they are just not worth that much so the owners hold them with little interest in keeping them. Along comes this run up in price; changing the dynamics. Again, personally, I don't think the magnified bullion prices will hold. this means at some point there will be a potential for some coins I want to come to market but after the fall in bullion price. I will feel bad for anyone who gets caught in this trap; but will console myself with some long wanted coins. james
No. Moot issue for me - all of my material is priced at retail. Whether CPG or cost plus.
Let me fix this for you.
That's better.
chopmarkedtradedollars.com
I advise my clients against busting the coin out of a slab.
You're worried about MY brand?
chopmarkedtradedollars.com
Really? A 1963 quarter in an MS64 slab needs to stay in the holder? You've missed the entire point of the thread.
All comments reflect the opinion of the author, even when irrefutably accurate.
It's nice that he cares.
All comments reflect the opinion of the author, even when irrefutably accurate.
I don’t do bulk junk silver. As far as the 1963 slabbed 64 quarter that might make a nice bd gift for somebody. Or a gift to a customer who bought something substantial at a show. Look up it’s CDN CPG vs melt. But if you want crack out nice slabbed coins throw into a roll that’s you lol.
Then maybe this isn't the thread for you.
All comments reflect the opinion of the author, even when irrefutably accurate.
Note that the video pertained to slabbed modern “bullion” coins. I would guess that relatively few melt-worthy low-grade coins exist in slabs. Very common collector au/unc gold or silver in slabs will no doubt attract attention from bullion speculators but will probably remain in slabs unless the hobby takes a downturn and the numismatic values become relatively insignificant.
Hopefully it won't happen. I put together a set that took years to put together of coins that so far may be the only set put together. It is a PF60 thru PF69, the proof 60 has a population 0f 8 and if it is true and coins got melted that 8 maybe less and the chances of other sets being put together could be very tough. The PR61 only has 17. So without those low grade coins sets like mine can't be put together.
It won't happen if set buyers are easier for sellers to find than bullion buyers and willing to pay more for the coins. Are they?
It is amazing how that coin has a population of 8 and it was a week long auction, and I was nervous I needed the coin never saw one before. No one bid on it. So people don't seem to pay attention to those low grade coins. When I saw it pop up I almost fell off my chair being a population of 8. The other 3rd party grader has none. So I like to watch those low graded coins and their populations.
You anticipate silver prices falling back down. I don’t think the run is done yet myself and my nearsightedness thinks it will never come back down. When and where do you think it will end up?
Inquiring minds need to know.
I think it is to hard to tell. I didn't think 60 dollars was really possible I bet a co-worker a 1 ounce bullion round he said 60 I said not, and within a week I gave up my coin and the price just does not want to stop. But with days it could be up 3 or 4 dollars and a day it can drop 7 that is too erratic for me to speculate. I have 300 to 400 ounces that I bought when it was 7 dollars an ounce, I think I will just hang onto that.
I would never bust out a slabbed coin to throw into a roll like it was junk. Plus scared might ruin it in the crack out process lol. I go by CDN CPG not BV. In this bull market especially.