PCGS-MS70 Silver Eagles

wondercoin · June 29, 2007 5:26PM

IMHO the right decision going forward - I expect PCGS' MS Silver Eagle populations to rise sharply from here. Should be great for PCGS from the revenue standpoint.

Wondercoin

FLBuffaloHunter · June 29, 2007 5:28PM

Yea as long as they don't buy too many of them back because of milkspots.

TrustNo1 · June 29, 2007 5:59PM

was there an official announcement or proof thereof?

wondercoin · June 29, 2007 6:02PM

I believe it was announced at the Baltimore show this past week.

Wondercoin

TrustNo1 · June 29, 2007 6:08PM

another thread on 2007-W grading MS70s says PCGS was asked and they said no. I guess we will wait and see the outcome

FLBuffaloHunter · June 29, 2007 6:16PM

<< another thread on 2007-W grading MS70s says PCGS was asked and they said no. I guess we will wait and see the outcome >>

I would trust wondercoin over the customer service reps anyday.

TrustNo1 · June 29, 2007 6:26PM

<< 

<< another thread on 2007-W grading MS70s says PCGS was asked and they said no. I guess we will wait and see the outcome >>

I would trust wondercoin over the customer service reps anyday. >>

I'd trust an offical announcement from PCGS.

Hugegut · June 29, 2007 6:41PM

Seems a little odd that bombshell news like this would be announced at a major show and not a peep was mentioned on this board. And why would the customer service reps still be in the dark a week after the announcement? Who was this announced to I wonder?

wondercoin · June 29, 2007 6:44PM

As funny as it sounds, this is already "old news". One wholesaler is already informing customers that coins are on the way to PCGS for the 70 grade. It is certainly no secret and as I said, I do believe the decision was announced at the show this past week.

Wondercoin

fivecents · June 29, 2007 9:45PM

WOO FREAKING HOO!!!

That is great news Mitch!!

mach19 · June 29, 2007 11:05PM

<< WOO FREAKING HOO!!!

That is great news Mitch!! >>

I think a lot of people will be cracking out some 69's & resubmitting them!! Or is this starting on the 2007 only?

CoinMaster1229 · June 29, 2007 11:56PM

I wonder if I ordered 2007-W today will they ship intime for first strike?

BAJJERFAN · June 30, 2007 12:04AM

What is the deadline to receive FS on the 2007-W ASE's?

CoinMaster1229 · June 30, 2007 12:08AM

NOT SURE, BUT JULY 11-14 RANGE IN THINK?

FLBuffaloHunter · June 30, 2007 12:09AM

http://www.pcgs.com/customer_service_update.chtml/

19Lyds · June 30, 2007 12:09AM

I think it is July 13th since they were released on June 13th.

tahoe98 · June 30, 2007 2:18AM

<< Yea as long as they don't buy too many of them back because of milkspots. >>

Loki · June 30, 2007 3:00AM

Anyone know if they are starting with 2007 or if past years are included in this decision?

I have some 2006-W raw ASE's I would like PCGS to grade, but only if they are willing to stamp a 70 on the label of a qualified coin.

fc · June 30, 2007 3:10AM

this thread is sad. let me try to explain why to newer folks.

under 5 times magnification you can probably tell the difference
between a 69 and 70. I wager most cannot? so spending big money
on a 70 is probably not a good idea when this craze dies down and
no one cares about the plastic 70 with a pops of hundreds or thousands.

i think many hope bullion can get slabbed at the ms70 grade
due to the termendous profits they can make off the unwary.
remember how dealers would use PCGS to get the pop #1 of
any coin in any series and market it that way? well the dealers
all want to have them first because of the abuse of the pops on
moderns.

silver eagles can have trouble inside the slab years down the
road. do you really want to pay up the nose for a 70 only
to have it turn bad in the holder? i wonder if pcgs will reimburse
what you paid for it in the crazy frenzy period versus 7 years
from now when you look at it again? what value will you get then
when the pops become meaningless due to too many 70s?

i can probably think of more reasons but i hope you begin to understand
why i shake my head at threads like these and the
coin collecting members who "like" it.

Swampboy · June 30, 2007 3:16AM

<< this thread is sad. let me try to explain why to newer folks.

under 5 times magnification you can probably tell the difference
between a 69 and 70. I wager most cannot? so spending big money
on a 70 is probably not a good idea when this craze dies down and
no one cares about the plastic 70 with a pops of hundreds or thousands.

i think many hope bullion can get slabbed at the ms70 grade
due to the termendous profits they can make off the unwary.
remember how dealers would use PCGS to get the pop #1 of
any coin in any series and market it that way? well the dealers
all want to have them first because of the abuse of the pops on
moderns.

silver eagles can have trouble inside the slab years down the
road. do you really want to pay up the nose for a 70 only
to have it turn bad in the holder? i wonder if pcgs will reimburse
what you paid for it in the crazy frenzy period versus 7 years
from now when you look at it again? what value will you get then
when the pops become meaningless due to too many 70s?

i can probably think of more reasons but i hope you begin to understand
why i shake my head at threads like these and the
coin collecting members who "like" it. >>

Doesn't everybody look at their coins under 5x?

I guess a case could be made that no modern coins should make 70. I have a 69DCAM 40 year old coin and the dead president has a furry white eyebrow.

COINB0Y · June 30, 2007 3:17AM

FS, your Icon looks like a Jock Strap

Swampboy · June 30, 2007 3:20AM

<< Your Icon looks like a Jock Strap >>

Squeeze me?

Oh, his.

57loaded · June 30, 2007 4:29AM

hoping this happens.....

if you don't have them ordered for FS it's to late..if you can believe the mint's backorder date as of today.

i guess a sealed Z7F box (FS quailifying) will mean something after all (MS70)..at least with PCGS.

ilikebuffaloes · June 30, 2007 4:35AM

<< hoping this happens.....

if you don't have them ordered for FS it's to late..if you can believe the mint's backorder date as of today.

i guess a sealed Z7F box (FS quailifying) will mean something after all (MS70)..at least with PCGS. >>

Hmm, I wonder if it would be better to sell the box or certify the coins? If my backorder date is correct, I'll get them next week.

NGC 70s (early release) are going for around $150-$190.

wondercoin · June 30, 2007 4:39AM

FC: The only thing "sad" IMHO is how NGC has successfully graded hundreds and hundreds and hundreds of thousands of MS Silver Eagles while PCGS was effectively "shut out" of this immensely popular area of moderns due to their decision over the past 5 or 6 years to not slab the 70 grade as a matter of policy. Now PCGS will get its share of this huge market - a share I believe was sorely missed from their "bottom line" as a company.

Wondercoin

FLBuffaloHunter · June 30, 2007 4:39AM

<< 

<< hoping this happens.....

if you don't have them ordered for FS it's to late..if you can believe the mint's backorder date as of today.

i guess a sealed Z7F box (FS quailifying) will mean something after all (MS70)..at least with PCGS. >>

Hmm, I wonder if it would be better to sell the box or certify the coins? If my backorder date is correct, I'll get them next week.

NGC 70s (early release) are going for around $150-$190. >>

I would say a First Strike 2007-W PCGS MS70 would go for at least double that, probably more.

ilikebuffaloes · June 30, 2007 4:52AM

Should I run a presale to find out?

FLBuffaloHunter · June 30, 2007 4:55AM

<< Should I run a presale to find out?

>>

I'm sure some enterprising individual will do just that

FLBuffaloHunter · June 30, 2007 5:18AM

I wonder if this decision only apllies to the 'W' ASE's which the mint sells as a 'collector's version' of the bullion ASE's which the mint considers as not having numismatic value.

ilikebuffaloes · June 30, 2007 5:23AM

The W's are minted differently aren't they? Maybe the rinse process or the finsh is less likely to spot.

I guess I need to decide where to send these shortly!

FatMan · June 30, 2007 5:35AM

This decision was inevitable as PCGS is losing big, big bucks on lost submissions. And PCGS has proven over and over again that it is all about the almighty dollar. After all, the decision to not holder MS70's was made because of the fear of losing money. Ah, how ironic that their decision to cut their loses has created loses of such a major proportion.

I might suggest at this point that anyone who submitted ASEs in the past has been screwed. PCGS has effectively changed the grading scale and owes it to all previous submitters to a regrade. How many folks on the forum have now effectively paid to have MS70 ASEs holdered as MS69s? I bet quite a few. So what are you going to do now?

cullenbryant · June 30, 2007 5:36AM

hmm. you've got information that would effect how the average person may conduct their submission once again before anyone else or can be expected to react in time to take advantage of.
similar to the way the anniversary sets were, where everyone had ripped into theirs, exept you.. because you knew about the policy.

wondercoin · June 30, 2007 5:59AM

Cullen: You are welcome for the "heads up" on these 07 Silver Eagles, which to this point I have not graded a single coin as I am not a big fan of MS Silver Eagles personally. Maybe I will submit a hundred coins or so now like many other board members may do to see what happens. Or, maybe I'll just buy freshly graded MS70 coins from one or more of the other dealers who also knew about this, but didn't bother to post a thread here to give heads up to the board and also don't need to waste their time responding to comments like I am here. But, I am happy to do it.

Wondercoin

aficionado · June 30, 2007 6:09AM

Well, I sent mine to NGC last week. Sorry PCGS, to little to late.

Hugegut · June 30, 2007 6:23AM

Me too. Not making a proper announcement of this sure cost them a lot of submissions. Oh well...

ModernCrapNut · June 30, 2007 6:33AM

Is this part of the grade guarantee their out?

Coins that are environmentally damaged. The PCGS holder, while excellent for long term storage and protection, does not protect coins from harsh environmental conditions. Consequently, the PCGS Guarantee does not apply to coins which have been environmentally damaged. For example, if your coins are damaged in a flood or fire, the PCGS Guarantee would not apply to those coins.

pf70collector · June 30, 2007 11:18AM

130 all unopened and FS eligible. What to do. Anybody know what the bulk submission is for these? $10 a coin and free FS designation?

FLBuffaloHunter · June 30, 2007 11:24AM

<< 130 all unopened and FS eligible. What to do. Anybody know what the bulk submission is for these? $10 a coin and free FS designation? >>

I know that special designations are all inclusive in a bulk siubmission. Call Stephanie or Eric in the Bulk Department at 949-567-1216 for the ASE bulk pricing.

TwoSides2aCoin · June 30, 2007 11:28AM

<< Well, I sent mine to NGC last week. Sorry PCGS, to little to late. >>

PCGS prefers loyalty to royalty... Don't be sorry

pf70collector · June 30, 2007 11:37AM

thanks FLBuffaloHunter. I thougt the FS were included. Never bulk submitted these only because of MS 70 issue.

MORGANHUNTER2 · June 30, 2007 11:40AM

<<silver eagles can have trouble inside the slab years down the
road. do you really want to pay up the nose for a 70 only
to have it turn bad in the holder? i wonder if pcgs will reimburse
what you paid for it in the crazy frenzy period versus 7 years
from now when you look at it again? what value will you get then
when the pops become meaningless due to too many 70s?>>

fc- I only chose to pull a sample of your thread- reason being- if the coin was bad it will turn even in the govt holder- has nothing to do with who slabs it.

I like a few folks in life have purchased raw proof ASE's during mint, a few months after and in fact a few years past mint processing- if milk spots are to be had- they will come out soon- not from a turn over in a PCGS/NGC/ANACS/GOOBERS CERTIFICATION slab.

and yes- I have them all in mint state condition - RAW as they were produced, along with dates of purchase as well- all still hold a exquisite superb gem example- the ones that did spot- were traded off.

Slabbing is a game for the rich- not the weak of heart- take your best parting shot- for the truth will be told one day.

roadrunner · June 30, 2007 11:51AM

Time for NGC to up the ante to either MS71 or a MS70 FDC.

roadrunner

Doogy · June 30, 2007 12:05PM

sounds to me like a marketing ploy: have everyone submit their bullion and give 'em 69 as a top grade, allow this to continue for an extended period, and then announce some 'bombshell news' (as an earlier poster called it) that they will change their "policy". This creates a whole range of collectors and dealers that will have to re-submit a coin that they have already exceeded the value of in grading/shipping fees to try and get the elusive 70 grade. what a cash cow for the company and their shareholders, and bad news for collectors

Texast · June 30, 2007 12:13PM

I would still like to see PCGS post an official announcement, like many others mine went to NGC. I have to wonder if the loss of business to the cable shows could have been a part of the decision, if there is one. I have noticed HSN's Coin Collector selling some PCGS State Quarter sets (I watch to see how wild the lies can get)

I wonder also if the NGC 70's would cross easy to PCGS 70's.

FLBuffaloHunter · June 30, 2007 12:16PM

PCGS or NGC will not crossover a 70 because they cannot guarantee it will cross unless it is removed from the holder.

COINB0Y · June 30, 2007 12:56PM

For the First year of this new coin, the burnished 2006 W Unc. ASE have the following graded POPs :

PCGS has ONLY graded 13,609 Coins TOTAL between 2006 W Unc Coins in the 20th Anniversary (9,789) + 2006 W Unc (3,820). No MS70's.

The No MS70's Rule?- 'Brilliant!!' NGC couldn't have asked for more from you.

WHY?

Over at NGC, 73,901 Coins have Graded between ALL versions of the 2006 W Unc Coin Labels.

NGC has 5.48 times MORE Coins graded than PCGS.

NGC has 10,971 Coins graded MS70 out of that, or 14.84%

TwoSides2aCoin · June 30, 2007 1:06PM

NGC has 10,971 Coins graded MS70 out of that, or 14.84%

Well, we all know what is a waste of money to be collecting now, don't we

?

A collectible coin will have some value besides BULLION value because of it's rarity.
Let's remember CONDITION RARITY only applies to lower POPS. So we dilute the market and give every coin a GOLD STAR and think we struck GOLD ?

Hello ? ? ? ? ? ? ? ? ?

POPULATION ? HELLOOOOOOOOO ????? Who cares about 70 when the market is flooded ?
What a joke !

BAJJERFAN · June 30, 2007 1:24PM

<< NGC has 10,971 Coins graded MS70 out of that, or 14.84% >>

I bet that 99.5% of all those who acquire a NGC ms70 don't even know that there are another 11,000 coins out there just like it.

ziggy29 · June 30, 2007 1:26PM

Guess they got tired of not getting many submissions.

Here come the crackouts. Lottery tickets for sale, get your lottery tickets...

LALASD4 · June 30, 2007 1:57PM

Bottom line, this is a business and all businesses are revenue driven.

TwoSides2aCoin · June 30, 2007 2:12PM

<< Bottom line, this is a business and all businesses are revenue driven.

>>

Revenue does drive business as well as integrity in it. I have no problem with coins that make the grade. My issue is with the thought process surrounding it.
The profit margin is important, but the quality needs to be there, too. I applaud the fact that PCGS will loosen the position a little with West Point minted coins. The operating standards applied at that facility are certainly more stringent than what we get out of Philly. (It was the Philly mint that PCGS said they would not give a 70 grade to, I believe).

As for Silver Coins and the elusive "perfect" strike; when I see over ten thousand graded 70 at NGC, it's difficult to believe West Point or the Royal Canadian Mint could put out so many PERFECTLY STRUCK COINS. This makes me think the grading standard is lax.

Joe

PCGS-MS70 Silver Eagles

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