PCGS PR58+ market Hot or Not?
Manorcourtman
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Is the market for PR58+ coins as hot as AU58+ coins? I’d guess not but I don’t think I’ve ever seen that grade for sale? Anyone with any insight here?
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Comments
The type of coin might be relevant for purposes of potential feedback.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
If it's an 1895 Proof Morgan, yup, otherwise no idea -- our mind reader is on vacation this week.
I don’t think I’ve ever seen that grade either. Or any Proof + grade actually.
Everman sets drive the prices for AU-58+ coins. I think proofs can be included as types, so I am sure there would be a premium for the grade.
"But seek ye first the kingdom of God and His righteousness and all these things shall be added unto you" Matthew 6:33. Young fellow suffering from Bust Half fever.
BHNC #AN-10
JRCS #1606
I would not be in the market for PR 58+ coins.
Don’t know the market on these, but isn’t anything below 60 considered “impaired” and much less desirable (generally speaking)?
I was asking for a generalization of the PR58+ market, or if there is such a market. The mania of the AU58+ market is quite strong. I simply was asking if anyone has seen 58+ craziness in the Proof market. I had not seen a PCGS PR58+ until today and the Dealer is asking crazy money for it. Here's the coin btw. I do not own it or have any plans of buying it fwiw!
Completely different issue.
All comments reflect the opinion of the author, even when irrefutably accurate.
Sometimes the spread in points is big enough for circulated Type sets that the PF58 or PF58+ is very valuable and one of the only ways to compete. Heres the points across the street so you can see the difference in point value for the PF versus AU and you can see the PF just about doubles the points
I don’t have any PF58+ in my Type, but I have some PF58s I bought because they had so much higher registry set points. But not all circulated proofs have more points, like Seated coins usually don’t have more points in PF
Mr_Spud
The coin looks kind of homely based on the Trueviews, but recent Trueview quality is still terrible IMO, so could look better in hand.
The 1871 three cent coin above with its dark green tarnish (pvc?) is what I call a C coin. So market for a coin is more about its attractiveness. An AU 58 coin is not a bad hole filler however.
My thought is that in general, there would be much more demand for 58+ circulation strikes than for Proofs. Often, a 58+ circulation strike can be more attractive and appealing than a low grade uncirculated example. But once a Proof has seen even brief circulation, it tends to be unimpressive looking. I can understand “crazy money” for a nice or great looking AU58+ coin, but not for a ho-hum Proof 58+.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
It’s different if you are a collector versus a dealer, I’m thinking. There are so few PF58’s let alone PF58+ coins that price guides are meaningless. But I upgraded this AU58 for a PF58 because it moved me up to #1 in the Registry across the street in multiple sets. It was worth a premium to me, and as long as the coin isn’t hideous, it’s ok by me. I consider these 2 to have almost identical eye appeal. Also, I’m funding these sets by selling off bullion I bought 20 years ago, so it’s almost like free money I’m playing with. But I don’t make my living off dealing coins, if I did, I wouldn’t be going after impaired proofs.
But look at the point difference
Mr_Spud
Just completed an everyman. U.S. Philippine Peso set in AU58. 3 to 5 years the collecting.
PCGS just opened composites for all denominations, of the U.S series.
not many taking advantage yet. AU58 everyman sets will be wave of the future.
For Top set building you will need deep pockets with most of those coins now at auction
where competition is heavy plus a 22% vigorish from the auction houses.
Slabbed AU58's are right now cast offs from folks hoping they would score an UNC grade
from the TPG'S, and can generally. be bought at a good price.
I have done both kind of Registry sets and they are both fun ,maybe more for AU 58'S because of low price and availability in more places'
Philippines Everyman Collections (3 sets)
Set Name
Philippines Everyman Centavo, Circulation Strikes (1903-1944)
Philippines Everyman Five Centavos, Circulation Strikes (1903-1945)
Philippines Everyman Ten Centavos, Circulation Strikes (1903-1945)
Philippines Everyman Twenty Centavos, Circulation Strikes (1903-1945)
Philippines Everyman Fifty Centavos, Circulation Strikes (1903-1945)
Philippines Everyman One Peso, Circulation Strikes (1903-1936)
Sets
2