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Will $10,000 and some help from the Members find a Pop 1 2000 Platinum Eagle $100 PCGS MS70?
BaileyBoysplusMom
Posts: 101
Hi Members,
Looking for the coin, and felt the members here maybe able to help.
There were about 10,000 coins minted in that year, and I am not sure if a PCGS MS70(current Pop 0) will ever be found, but...
Best of luck on the hunt!
BBpM
Looking for the coin, and felt the members here maybe able to help.
There were about 10,000 coins minted in that year, and I am not sure if a PCGS MS70(current Pop 0) will ever be found, but...
Best of luck on the hunt!
BBpM
0
Comments
Liberty: Parent of Science & Industry
Like VOC Numismatics on facebook
not for modern bullion
not for microscopic differences
not for a coin with an inherent absence of toning that looks 100% the same as the other
not for 10 times the undergrade
On the other hand, I agree that to each their own is a good philosophy.
<< <i>I don't think there's any reason to judge here. >>
Sure there is. Don't you know that a person should only spend their money the way others say they should?
Russ, NCNE
I would prefer that BBpM spend his $10k on the MS-70 bullion coin, rather than spend $1k on an MS-69 and compete with me for AU $3's or New Orleans $10's. BBpM, stay focused. If I find one, you will be the first to know.
While we're advertising over on this board, I'm still looking for two early bust halves
1801 O.102 and
1802 O.101
Will pay from double to ten times "sheet" for the right coins
(and will make a strong offer on any genuine coin in ANY grade)
Liberty: Parent of Science & Industry
Russ, NCNE
Thanks for all the responses.
TDN:
Excellent counsel, by the way I love your web site...the best.
Unfortunately for me, I'd like to have the coin, if it exists.
Baley:
Perhaps it will cross and you can sell it to me or someone else.
I have owned a few ICG MS 70's (Pop 88) and there are 4 NGC MS70's out there, and 290 PCGS 69's.
Of course, as it is said, I will be "buying the coin not necessarily the holder".
Airplanenut:
"Condition Rarities" in moderns-bullion, I suppose are not for everyone, but I want to build a collection of the finest $100 Plat Eagles I can.
IMHO, I have seen my share of 70's in the series and notice enough of a difference to seek a MS70. Finding one may take some time, the raw material is tough in that year, bank depositories are not that easy to access.
Thanks again everyone,
BBpM
Personally I don't think the graders can spend the time to tell the 69's from the 70's so all great looking coins are just 69's.
What will happen is some day in the future things will slow down and there will all of a sudden be 10 70's graded and the price will drop like a rock.
"Will pay from double to ten times "sheet" for the right coins"
Gee Baley,
There has to be a catch in this somehere please define,"sheet" and "right coins"
I respect your opinion (read many of your posts) and will agree your opinion could be a likely outcome.
I try to mitigate that risk by searching for the "top coins" and will have to see a coin before I pay the price. These coins are in strong hands and time will tell the final saga.
Hopefully, today more people know that if they stumble across a "top coin", I'm out there to hand them a nice profit for their efforts.
Obviously, the "Condition Rarities" game in modern bullion is not for everyone.
Thanks,
BBpM
Please don’t think my comment to be rude, that was not my intent. In fact I have the good part of set of the one half ounce coins in MS 69, with one MS 70, bought when Plat. Dropped last year.
I like these coin, and think that some day they will have a great future. I have examined several of the MS 70 coins in the one half eagle size, and truly for the life of me I can see no difference in some of mine in MS69.
There has been much discussion here over the years concerning the 20 second grading of the top two companies. For whatever reason there just seems to be some reluctance on the part of graders to give out MS70. They must be looking for the first 3 coins out of the press?
I am serious about my post, these folks do have changes in their policies, and it may be that someday they will decide due to market conditions, increased interest etc. that they have been to harsh.
I didn't take your comments as rude at all , on the contrary, I agree with you.
I am not completely satisfied with differences in 69 versus 70 in my Proof coins. However, in my MS coins, I have the luxury of owning a few "top coins".
One coin is the "top coin" from a sealed mint box that went directly to PCGS, say a 1 in 500 coin and it certainly IMHO is something to see, and an excellent "benchmark" to view other coins. If there is a MS70 or "perfect coin" by definition, this is one.
IMHO, if that coin went through the normal process from mint to main distributers to bullion outlets(counted 3 times in and 3 times out) to platinum bullion investor etc., to ..... PCGS it might be perhaps a 1 in 1000 coin.
Always like to chat with another Plat owner, relatively few of us out there.
Regards,
BBpM
-Daniel
-Aristotle
Dum loquimur fugerit invida aetas. Carpe diem quam minimum credula postero.
-Horace
A request was not asked for.
What was requested was a particular coin at a particular grade - For a price.
Can anyone find a 2000 Platinum Eagle in MS 70?
Sounds like a job for MrPlatinum
My posts viewed
since 8/1/6
<< <i>Why is anyone telling BBpM how to spend money? >>
Yea but i bet everone is Searching there MS69's with a Electron Microscope
LanLord: My thoughts exactly.
relayer: Leo is well aware of my quest in the $100 Plats. I don't think the "jaws of life" could pry the 2002
coin from him.
BIGDAVE: I hope so.
Thanks everyone for their responses.
I'm not much of a typist, so I'll thank everyone that responds to this thread.
BBpM
But, my personal study of the Mint State $100 Plat series, which includes me examining hundreds upon hundreds of PCGS-MS69 coins as well as already selling a few handfuls of PCGS-MS70 specimens throughout the series and examining those coins as well, suggests that the coin you are seeking (i.e. a 1997-2002 $100 truly perfect MS70 Plat) is, IMHO, among the scarcest high grade moderns out there today. The platinum metal from that era is simply plagued with planchet problems, as well as marks and scuffs on the high points as a general rule. Ms. Liberty's crown is often times peppered with light contact marks and small scuffs are often quite pronounced on the reverse of these coins especially on the sun.
So, to answer your question - NO - I do not personally believe $10k and some help from the members will land you the coin any time soon. It is, IMHO, simply too scarce a coin for anyone to slab and sell at that level. Frankly, even with a $15,000 open offer, you might get some additional members hunting for one, but, my answer would not change.
Now, of course, my comments above beg the question whether it is "prudent" to spend $10,000 on a $1,000 coin in the undergrade. Indeed, you are not asking anyone whether it makes sense to spend the money on the finest MS70 platinum coin, if I read your post correctly.
Good luck in your search.
Wondercoin
so extremely hard. The planchets are handled very roughly and acquire
marking despite this hardness. Then they are very resistent to the dies
and typically marks will remain in the imcomplete strike. This makes finding
that one in a million gem a huge task.
Platinum is harder!!! Mintages are so small that even finding coins to check
is a lot of work.
I wish you luck.
Right on target and exactly my thoughts, someone that knows the task at hand.
That is why I need a large base of "lookers" and will pay 10X undergrade as an incentive for those willing to have a go at it.
I hope that a board member turns up the coin!
I read many of your responses in Posts as you provide valuable insight on many topics.
wondercoin,
Thanks
BBpM
bullion supplier
Maybe they would be willing to go through their inventory and submit it hoping to get that MS 70.
Good luck in your hunt.
I just bought a MS 70 PCGS $50 2005 First Strike and also collect them.
No competition from me since the $100 are a little out of my price range.
Box of 20
Not directly to all of them, perhaps worth a mass market letter campaign, and certainly another avenue to try.
Let me share my experience with a fellow collector:
My experience so far with the bullion dealers is they get their product from the main distributers under contract with the mint for the circulated bullion(a half dozen or so in the USA, a few overseas) versus proofs that are bought directly from the mint by anyone. These distribuitors ( now talking $100 Plats) break open the mint boxes to distribute to the bullion dealers. Remember a box has $400,000 + worth of metal(current Plat price) and contains 500 coins. Of course large orders can leave a mint box sealed to its final destination. Anyway, the distibuters and dealers used the likes of Brinks etc., to hold the coins, and it is common practice to count the coins 3 times in and 3 times out before ever reaching the hands of the investing public.
Now, many larger bullion dealers have a numismatist on staff, and the ones I am aware of actually do the hand counting of the coins. They tend to be aware at this time, that an MS70 will bring a premium over metal.
The issue is that the earlier Plats(1997-2003) have what I call a reverse proof strike which marks easily. Wondercoin is correct in his response and I would venture a guess that outside of a PCGS Grader he has seen more MS70's than anyone.
Essentially once that box is opened and those coins handled, the coins get marked. The earlier dates have been handled long ago as no one collected the coins and the numismatist probably had no incentive to look.
My research shows folks started looking in 2002 for the "perfect coin". That leaves the earlier years of untouched raw material tough to find.
Remember in 2000, only 10,000 coins were minted equal to 20 boxes, which was probably distributed to the general public with very few if any to a bank depository for IRA holdings etc. In fact my information tells me, that the early years of Plat production is what is being "traded" around in the bank depositories.
So... IMHO the best chance to turn one up from 2000, is to get a broad base to look at what coin is out there and find it, if it exist. Its amazing in the process that any make MS70, but some do ( I suppose like any other high condition "gem"coin with respect to its series).
Best of luck in your collecting, and if you find a way to find those "gem" coins please let me know.
I am always willing to learn new tricks to further my quest, and if anyone out there reads this and has knowledge to share, please do.
Thanks
BBpM
Although my reverse-proof mirrors on my mint state 2000 $100 platinum coin are perfect, there is a tiny frost break in one of the fields, I forget which and can't find a picture (the coin is in the bank box) I will take a picture and ttt this thread sometime next week.
I can imagine me and the owner of a PF70 coin showing the coins to a non-collector third party:
BaileyBoysplusMom: My coin cost me $10,000
Baley: My coin cost me less than $1000
third party: What's the difference?
Baley: see that tiny frost break on my coin...
BaileyBoysplusMom: well, mine doesn't have that.
third party: oh.
Liberty: Parent of Science & Industry
TWQG,
I was fortunate and thankful to be able to purchase Steve's coins (Heller Collection/Registrycoin) last year.
Jdurg,
Best of luck collecting Plats.
BBpM
Baley: My coin cost me less than $1000
third party: What's the difference?
Baley: see that tiny frost break on my coin...
BaileyBoysplusMom: well, mine doesn't have that.
third party: oh."
This illuminates an interesting point. The $100 MS Plat series has not "matured" enough yet as a collectible series to have the continuum of value seen in somewhat older series of coins (for high end, low end and middle of the road coins) - hence the $1,000 vs. $10,000 proposition. Of course, in other coin series, collectors can often pay a wide range of prices for a coin within the same grade. For example, in the silver Washington quarter series I collect, it is not rare for a super "PQ" coin with a spread of $1,000 to $10,000 between grade points to sell for, say, $2,500 or even $5,000 for a very high end coin. On the other hand. there may very well be an MS69.9 quality Platinum coin and that coin might not command hardly any premium at all for the superb quality for the grade today. To a dedicated collector with a sharp eye and time on his side, this reality may be a very good thing as oposed to a bad one.
Wondercoin
there has to be a catch in this somehere please define,"sheet" and "right coins" >>
Sheet man, you know there be a difference!
Tom
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
Wondercoin is (IMHO) absolutely correct. Monsterman touched on the subject some time ago in a Board Post.
BBpM