Low Value Moderns in Slabs - Worth it?

CrowHill · October 29, 2005 4:56AM

Hi everyone.. just wondering why people pay at least 14 dollars per coin to slab moderns that are going for 6 or 8 bucks on teletrade, ebay, etc? Are they getting huge volume discounts by submitting a few hundred at a time? Just curious! Rob

PutTogether · October 29, 2005 5:02AM

I always just assumed that the coins like that ended up in slabs because their submitters thought they would grade higher.

lordmarcovan · October 29, 2005 5:06AM

Maybe they're getting volume discounts in some cases, and I think the ones you see going for 6 or 8 bucks are the ones that didn't meet the expectations of the person who submitted them.

CrowHill · October 29, 2005 5:11AM

That makes sense, I always just figure everyone who submits stuff is an expert

jdimmick · October 29, 2005 5:18AM

My thoughts as well, many are coins that the submitter thought would come back higher than they actually did. One's that get chalked down as education to the submitters. In fact look at how many of these come from just the board members alone, not to mention all the other numerous submissions.

nwcs · October 29, 2005 5:43AM

<< <i>That makes sense, I always just figure everyone who submits stuff is an expert

>>

LOL, I'm sure it's the other way around.

LindeDad · October 29, 2005 5:51AM

Some of the cheaper one's are from large bulk submitters also. If you submit a large group of coins the PCGS fees are about $8.00 per coin plus the shipping charges. If they send in large groups they in many cases don't pre screen that close. There are also minium grade standards they can set also. But I don't know all the variables.
I just try to pick off there rejects, and no reserves on eBay.

sinin1 · October 29, 2005 6:04AM

I bought a pile of coins, same date, same mintmark, same grade

after looking at all of them, it seems to me that 10-20% could be a grade higher and 10-20% could be a grade lower

the serial numbers showed me a little on the submission business

I got close to 30 MS65's - by punching in the missing numbers, there were higher grades on same submission as well

so hypothetical submission -> 150 coins with a 65 minimum
100 get graded @ $14/ 50 no grades ar $5/ $1650 submission

grades
60 MS65 worth near $8 $480
35 MS66 worth near $60 $2100
5 MS67 worth near $700 $3500

I have no idea how the original 150 coins were obtained - many bags or cut out of mint sets

this one submission was about 5% of the population report for this coin/date/mintmark

play with the numbers - shooting for the high valued top pops

I have not tried it, but it apparently is being done by many people (or at least a lot of coins
0 when looking at the population reports and the values

state quarters is an obvious example - but when talking about proof sets, I would imagine the submitter may be buying a few thousand sets from the mint???

take home message

a numbers game, what are the values for those $6-8 coins in 1, 2, and 3 grades higher than they have

the submitter must have felt enough would grade high enough to justify fees

keets · October 29, 2005 6:16AM

there are some Jefferson Nickel issues which are very tough in MS66FS, difficult in MS65FS and relatively easy as MS64-63FS. the fact that PCGS judges some wrongly/rightly as MS64FS and places a low value on them puts them out there real cheap. i have some like that and will hold them instead of giving them away since it's clear, to me at least, that the graders screwed the pooch.

i have to assume that happens in most every series and accounts for much of the low value stuff.

Myqqy · October 29, 2005 6:18AM

I always just figure everyone who submits stuff is an expert

Correction: everyone who submits stuff THINKS they're an expert....

Russ · October 29, 2005 7:06AM

There are a lot of "throw it at the wall and see if it sticks" submissions.

Russ, NCNE

CrowHill · October 29, 2005 8:37AM

<< <i>100 get graded @ $14/ 50 no grades ar $5/ $1650 submission >>

If you have a minimum acceptable grade, the no grades only cost 5?

sinin1 · October 29, 2005 9:25AM

I am not sure on fees for dealers, or fees for minimum required that do not make it

It may be $8 for dealers and no grades may be less if lower than a certain percent of total submission

fcloud · October 29, 2005 9:30AM

I just sent in four clad Roosevelt dimes and a pair of 1976 quarters to them for grading. Some times it is cheaper to send them in, and live with their grades, vs trying to fing them already in their tomb.

Low Value Moderns in Slabs - Worth it?

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