Someone is taking a beating on 07-W SAE on the bay

ModernCrapNut · June 30, 2007 9:34AM

He has 250 Early Release MS-69 on Dutch Auction and is only getting $29/coin so far and not that many sold. Link

TennesseeDave · June 30, 2007 9:36AM

Pcgs 1st strike 69's are going for about double that.

FatMan · June 30, 2007 9:40AM

With the announcement that PCGS will begin holdering ASE 70s, expect 69s to fall fast.

Edited to add: The seller is John Maben. A dutch auction with 250 quantity is not going to generate a high price. He is buying a modern collector mailing list and not interested in making any money on these.

ilikebuffaloes · June 30, 2007 9:46AM

He used to work for NGC. Maybe he got a deal on them....

FLBuffaloHunter · June 30, 2007 10:07AM

<< <i>He used to work for NGC. Maybe he got a deal on them.... >>

I'm sure that's the case. He's probaly looking to break even. Don't try to beat a pro at his own game

NeoStar · June 30, 2007 10:16AM

He gets them cheaper than most of the other dealers do. He has the presidential proofs for $13.97 this weekend. He'll do fine with this sale I'm sure...

ModernCrapNut · June 30, 2007 10:17AM

Not trying to beat anyone, but I'll try to pick up a few at this price. Cheaper than the mint with the encapsulation and I'll send 3 I've got and a raw '06 to PCGS.

clarkbar04 · June 30, 2007 10:28AM

I didn't know I needed one of those until I saw this thread!!

ilikebuffaloes · June 30, 2007 10:33AM

<< <i>He gets them cheaper than most of the other dealers do. He has the presidential proofs for $13.97 this weekend. He'll do fine with this sale I'm sure... >>

Well the coin was $3.97 so if the grading was $5 then he makes $5 per coin. Not bad if he has a bunch of them!

SUMORADA · June 30, 2007 10:47AM

he knows what he is doing for sure,69's are break even,70's make $$...............smart!

NeoStar · June 30, 2007 11:43AM

Here's an example:

He is selling the Presidential Proof set for $13.95, right? LINKY to sale page!

The mint is selling the same set for $14.95....LINKY to Mint Page

SO....there you go! He doesn't pay full price and then he grades in bulk. If it was one of us tonight, we probably would have been creamed; but, he is probably laughing his way to the bank instead!

SUMORADA · June 30, 2007 12:06PM

13.95 + 6.00 s&h = 19.95 + lead to his site for other goodies............................

...........................smart!

FLBuffaloHunter · June 30, 2007 12:13PM

If you are a registered bulk purchaser, you also receive a 5% discount on orders over $5000.

Paleodale · June 30, 2007 12:41PM

<< <i>Pcgs 1st strike 69's are going for about double that. >>

What do you expect From a NGC Slab MS69,,, They probly have bag marks on them... I bought a NGC slabbed ms69 once and the coin had a bag mark on it... HOW can that be???????????.... Does modern coins grade on a different scale than older coins by NGC,??????.... I have never ever had that happen with a PCGS coin graded MS69..... I'm not saying PCGS is perfect, because I have seen some of there boo, boo's before Too,,, but nothing as bad and as frequent as it's getting with NGC....

7over8 · July 1, 2007 7:11PM

he is selling the 69's to free up the cash and generate names (customer lists); even if it is a small loss - it is made up on 70's and his other products. there is 31.95 in each of those early release coins in bulk.

ModernCrapNut · July 1, 2007 9:41PM

At that price there is very little downside although there are probably going to be a lot of PCGS graded MS-69s hitting the market as more are submitted there now.

pf70collector · July 1, 2007 9:51PM

So those that submitted before the announcement that PCGS will offering the 70 grade, have essentially lost out or is PCGS just not handing out the 70's that easy. The pops have no 70's in them at all for the 2007 W's.

Someone is taking a beating on 07-W SAE on the bay

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