How to value a Cheerios dollar--help requested

Kaelasdad · April 20, 2007 1:11AM

Hi all, I had a coin stolen through the postal service and the guy who stole it is being prosecuted for mail fraud. The coin was an NGC MS68 Cheerios Dollar. At the time I valued the coin at $10,000.

The USPS is prosecuting, but they want some kind of proof as to the coins value. If anyone has either recently bought or sold any cheerios dollars and wouldnt mind sharing some information, I would appreciate it. Justice is working to send this guy away for a very long time, and I want to make sure they charge him with a $10,000 crime and not a $5000 crime.

Thanks for any assistance. Russ

oncologyrep@excite.com

ricko · April 20, 2007 1:16AM

Have you checked auction sites? Also, you may query Fred Weinberg... he is an expert on errors etc. Cheers, RickO

Cladiator · April 20, 2007 1:17AM

Check eBay past auctions.

Hugegut · April 20, 2007 1:20AM

PRTCOINS · April 20, 2007 1:36AM

I dont know if this will help you out or not but last month one sold on ebay for $9,000.00. Item #150098263769.

Cladiator · April 20, 2007 1:41AM

<< I dont know if this will help you out or not but last month one sold on ebay for $9,000.00. Item #150098263769. >>

And that one was only an MS66.

PRTCOINS · April 20, 2007 1:44AM

<< 

<< I dont know if this will help you out or not but last month one sold on ebay for $9,000.00. Item #150098263769. >>

And that one was only an MS66. >>

So what do you think his is actually worth being an ms68?

wondercoin · April 20, 2007 1:55AM

Russ: Sorry to hear about your loss, but, great news on the fact this guy is being prosecuted. This may be the first example of an ultra modern coin being stolen and there being an actual USPS prosecution?

I am personally comfortable with your valuation for that particular coin. If you need a declaration as to value down the road, feel free to let me know and I'll try to help out.

Wondercoin

Writersblock · April 20, 2007 2:06AM

I don't think he's going to be able to prove a $10,000 value for his coin. I just don't think there is documentation available to support it. The $9,000 coin was the "discovery" piece and slabbed as such, otherwise it would not have fetched that much.

57loaded · April 20, 2007 2:38AM

<< 

<< I dont know if this will help you out or not but last month one sold on ebay for $9,000.00. Item #150098263769. >>

And that one was only an MS66. >>

gotta catch up read above....

Writersblock · April 20, 2007 3:28AM

Who are you referring that comment to?

SilverEagles92 · April 20, 2007 3:40AM

His is a MS68. Pat's was a MS66. Even as a discovery coin, I'd think that the MS68 would be worth more.

PRTCOINS · April 20, 2007 3:48AM

<< 

<< 

<< I dont know if this will help you out or not but last month one sold on ebay for $9,000.00. Item #150098263769. >>

And that one was only an MS66. >>

gotta catch up read above.... >>

What are you talking about?

PRTCOINS · April 20, 2007 3:50AM

<< His is a MS68. Pat's was a MS66. Even as a discovery coin, I'd think that the MS68 would be worth more. >>

I agree, but was curious on what the value might be?

CaptHenway · April 20, 2007 3:51AM

<< Hi all, I had a coin stolen through the postal service and the guy who stole it is being prosecuted for mail fraud. The coin was an NGC MS68 Cheerios Dollar. At the time I valued the coin at $10,000.

The USPS is prosecuting, but they want some kind of proof as to the coins value. If anyone has either recently bought or sold any cheerios dollars and wouldnt mind sharing some information, I would appreciate it. Justice is working to send this guy away for a very long time, and I want to make sure they charge him with a $10,000 crime and not a $5000 crime.

Thanks for any assistance. Russ

oncologyrep@excite.com >>

Was it being sent through the mails because it was being bought/sold? If so, a sales invoice might work.
TD

LALASD4 · April 20, 2007 3:58AM

Wow someone stole a Registered Mail package? I thought that was safe.

Writersblock · April 20, 2007 4:00AM

Worth more than what? Take away the "Discovery" part and the 66 would probably drop down to five or six thousand, maybe less. Sure a 68 is worth more than a 66, but there is still no documentation to support a $10,000 figure. As far as I know no slabbed coin other than the Discovery coin has sold anywhere near that high. I would think it would be hard to convince the USPS that it was worth $10,000 if you can't show any non special piece with a sale over $6,000. We may know in the hobby that there can be price breaks where the price jumps but try educating the USPS of that and of where they would be, without hard data.

I would agree that the Discovery piece is the best shot, but gloss over the discovery part, just stress the MS-66 part with this being a 68. I wouldn't buy it but they might.

<< Wow someone stole a Registered Mail package? I thought that was safe. >>

He never said it was Registered, but I would hope it would have been. And if it was that's probably how they got the accused. The Registered mail paper trail probably led right to him.

Anything can be stolen, your just less likely to get away with it on some things more than others. Things with a very low probability of success have a much lower theft rate. Registered mail is one of those things, so it is much safer than other types of shipping.

57loaded · April 20, 2007 4:40AM

<< 

<< 

<< 

<< I dont know if this will help you out or not but last month one sold on ebay for $9,000.00. Item #150098263769. >>

And that one was only an MS66. >>

gotta catch up read above.... >>

What are you talking about? >>

i posted then read the above comment was basically the same, next time i will just delete the entire post for you.

BobGreene · April 20, 2007 5:06AM

If you are unable to find a previous sale of an MS68 Cherios Sac dollar, then tell the USPS that its value is uncalculable, and therefore, priceless.

BobaFett72 · April 20, 2007 5:23AM

was this a sale via an auction site?
is there an invoice>
email trail?
proof of payment>? check, money order, electronic statement?

SpaceMonkey · April 20, 2007 9:07AM

this is from the PCGS Price Guide

147231 2000-P Cheerios Dollar FS-901

63 2300
64 2350
65 2400
66 2650

/ed

Lakesammman · May 12, 2007 2:09PM

Those prices are absurd - did they make them up??

Kaelasdad · May 12, 2007 2:57PM

I would have to agree Tim, anyone seen a 63? anyone ever see a 63 for sale? Anyone crazy enough to sell a PCGS MS66 for $2650? Last I saw, raw ones, still in the wrapper were close to $5000. They should have an unopened price at $5000, then start going up.

ModernCrapNut · May 12, 2007 8:47PM

The PCGS price guide shows MS-68 at $7500

TwoSides2aCoin · May 13, 2007 6:21AM

Here's how I value mine

JapanJohn · May 13, 2007 7:02AM

$40,000. Is that for real?

John

WinPitcher · May 13, 2007 7:07AM

I think all he would need is the letter that Mitch said he would write.

A coin dealer would IMO carry all the weight needed.

Also IMO a 68 would fetch the 10k the OP is claiming.

Steve

Steve · May 13, 2007 7:42AM

This tread is a perfect example of how the "value" of a coin is what a willing seller and a willing buyer agree to. In this case, trying to prove a "value" to the USPS is going to be difficult. Most collectors would not pay even $1,000 for this Cheerios coin. Why?, because it is a fringe collectible that only a small group of collectors would be interested to buy in the first place. Even those who might have an interest would not risk the $10,000 for this coin in MS68 or even MS65. Why? Because, they most likely are NOT collecting it for their collection or for owning a piece of history. They are buying it in hopes to resell it for a profit. JMHO. Steve

TwoSides2aCoin · May 14, 2007 4:09AM

<< This tread is a perfect example of how the "value" of a coin is what a willing seller and a willing buyer agree to. In this case, trying to prove a "value" to the USPS is going to be difficult. Most collectors would not pay even $1,000 for this Cheerios coin. Why?, because it is a fringe collectible that only a small group of collectors would be interested to buy in the first place. Even those who might have an interest would not risk the $10,000 for this coin in MS68 or even MS65. Why? Because, they most likely are NOT collecting it for their collection or for owning a piece of history. They are buying it in hopes to resell it for a profit. JMHO. Steve

>>

I'll pay $1000 for one...
Heck, I'll give ya $1000 x 10 if ya have that many. I'd be more than happy to take them off your hands !
Not for flipping~ for ripping.

JL3Eleven · May 14, 2007 5:14AM

I think people are forgetting how you got a Cheerios Dollar in the first place! In select boxes of cereal 7 years ago! not the bank or in mint sets. And guess who eats a majority of cereal? Kids! and what would a kid do with that dollar I wonder? They would pull it out and put their greasy little hands all over it as they walked to the store to spend it. So for anyone to have acquired one in such spectacular condition should value it highly because it has overcome huge odds and an extremely low population. As for the PCGS prices for the Cheerios it has just recently been added this month (I believe) to the price guide and has had its values raised since being added (But that's apples to oranges).

How to value a Cheerios dollar--help requested

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