20th Anniversary 2006 W Silver Eagle
postmansi
Posts: 7
Hello,
I recently sent my 20th Anniversary Silver Eagle set to PCGS for grading. The MS coin came back graded as a 70.
I see PCGS has the retail price listed as $3000. The total population as of today is 59. I was fairly excited as having
this graded as a 70. I took the slab to a local coin shop whom I have not done business with before and who advertises free appraisals. I showed him the slab and asked for an appraisal. He took a look, consulted some sort of price sheet and proceeded to do some calculations on an adding machine, and said "today $75" I see that similar coins have sold recently on EBAY for over $1000.
Any thoughts on why the owner appraised this so low?
Are my expectations too high for this coin?
Thanks
Jon
I recently sent my 20th Anniversary Silver Eagle set to PCGS for grading. The MS coin came back graded as a 70.
I see PCGS has the retail price listed as $3000. The total population as of today is 59. I was fairly excited as having
this graded as a 70. I took the slab to a local coin shop whom I have not done business with before and who advertises free appraisals. I showed him the slab and asked for an appraisal. He took a look, consulted some sort of price sheet and proceeded to do some calculations on an adding machine, and said "today $75" I see that similar coins have sold recently on EBAY for over $1000.
Any thoughts on why the owner appraised this so low?
Are my expectations too high for this coin?
Thanks
Jon
0
Comments
Me thinks the dealer was trying to take advantage of your lack of pricing knowledge or possibly confused it with the 2007-W ASE.
<< <i>Hello,
I recently sent my 20th Anniversary Silver Eagle set to PCGS for grading. The MS coin came back graded as a 70.
I see PCGS has the retail price listed as $3000. The total population as of today is 59. I was fairly excited as having
this graded as a 70. I took the slab to a local coin shop whom I have not done business with before and who advertises free appraisals. I showed him the slab and asked for an appraisal. He took a look, consulted some sort of price sheet and proceeded to do some calculations on an adding machine, and said "today $75" I see that similar coins have sold recently on EBAY for over $1000.
Any thoughts on why the owner appraised this so low?
Are my expectations too high for this coin?
Thanks
Jon >>
First of all, welcome to the forum postmansi!!!
Your calculator local coin dealer is a total jerk.
You have a very valuable coin......HOLD on for now!!!!!
Time will be very good to you and your PCGS MS70 20th ASE.
Good Luck!!!!
Yep I am pretty new at this but I felt I had a fairly valulable coin in hand and I even pointed out to him that this was a 20th anniversary coin. At that point he just shrugged his shoulders. I just turned my back on him and walked out. I felt this guy was treating me like an idiot. I know one thing, I will never do business at this coin shop!
Thanks
Jonathan
Hoard the keys.
I agree. Always a few rotten apples in the barrel Eh! ............I will keep looking.
I went there today for an opinion on the coin and to see if I could strike up relationship with a local dealer.
When I saw the sign free apprasals I felt comfortable asking for a price.
The $75 offer was insulting. I kicked myself later for not challening him on this, but it's his loss. This guy turned away a potential future customer.
Jon
<< <i>
I see PCGS has the retail price listed as $3000. The total population as of today is 59. >>
This coin is nowhere near worth $3k and I own several. Also the population is way over 59 in the many hundreds. The current PCGS price guide shows $1,300 which is also too high.
<< <i>This coin is nowhere near worth $3k and I own several. Also the population is way over 59 in the many hundreds. The current PCGS price guide shows $1,300 which is also too high. >>
Is the online version of the price quide and population report not up to date?
<< <i>
<< <i>
I see PCGS has the retail price listed as $3000. The total population as of today is 59. >>
This coin is nowhere near worth $3k and I own several. Also the population is way over 59 in the many hundreds. The current PCGS price guide shows $1,300 which is also too high. >>
You must be referring to the non-20th Anniversary labeled coin. The $1300 guide price seems to be accurate. Check ebay completed auctions. NR auctions are ending in the low $1000's for that coin.
<< <i>
<< <i>
I see PCGS has the retail price listed as $3000. The total population as of today is 59. >>
This coin is nowhere near worth $3k and I own several. Also the population is way over 59 in the many hundreds. The current PCGS price guide shows $1,300 which is also too high. >>
There is a bit of confusion here, the price and mintages I quoted are for the reverse proof. I don't have access to the pop reports.
<< <i>
<< <i>Hello,
I recently sent my 20th Anniversary Silver Eagle set to PCGS for grading. The MS coin came back graded as a 70.
I see PCGS has the retail price listed as $3000. The total population as of today is 59. I was fairly excited as having
this graded as a 70. I took the slab to a local coin shop whom I have not done business with before and who advertises free appraisals. I showed him the slab and asked for an appraisal. He took a look, consulted some sort of price sheet and proceeded to do some calculations on an adding machine, and said "today $75" I see that similar coins have sold recently on EBAY for over $1000.
Any thoughts on why the owner appraised this so low?
Are my expectations too high for this coin?
Thanks
Jon >>
First of all, welcome to the forum postmansi!!!
Your calculator local coin dealer is a total jerk.
You have a very valuable coin......HOLD on for now!!!!!
Time will be very good to you and your PCGS MS70 20th ASE.
Good Luck!!!!
Fred, Las Vegas, NV
Dealer could also not do ultramoderns and not know the market for them in PR/MS70 grades. May not get many walk-in requests, not do ebay, and not have a clientele for that sort of coin.
Wouldn't surprise me.
Now, if you take in a 55/55 lincoln and get lowballed, then you know
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
<< <i>Thanks folks for the replies and the welcome.
Yep I am pretty new at this but I felt I had a fairly valulable coin in hand and I even pointed out to him that this was a 20th anniversary coin. At that point he just shrugged his shoulders. I just turned my back on him and walked out. I felt this guy was treating me like an idiot. I know one thing, I will never do business at this coin shop!
Thanks
Jonathan >>
<< <i>... I showed him the slab and asked for an appraisal. He took a look, consulted some sort of price sheet and proceeded to do some calculations on an adding machine, and said "today $75"...Any thoughts on why the owner appraised this so low?
>>
His consulting price sheets and going through the motions of doing his calculations is theatrics.
This dealer doesn't deserve the benefit of doubt in this instance, IMO.
Closed auctions
230174477740 Three coins set 70/70/70 $3,870 BIN
170150471226 Three coin set 70/70/70 $5,200 BIN
Current auction
170155214730 Just for the MS 70 alone $5799
I guess there are only a few listings due to the fact the the populations is so low and the fact that PCGS
just stated giving deserving coins a 70 grade in spite of the potential milk spotting problem.
Not sure I want to sell my ASE but if I could sell for anywhere near the above prices it would put a nice amount back into
my modest coin collecting budget.
I have only been collecting for about 10 years(just from the mint so far) and have yet to sell any of my collection, but
I am always pleasently surprised when I see the values jump ( like the 2001 Buffalo comm and some of my silver proof sets)
I like the beauty of the coins and learning something about their background and it will give me something to pass on down to the grand kids too. ( cuz I sure wont have any money left
I just subscribed to the Presidential proofs for my grandkids and hope to get them interested in collecting too. At least they can learn about their presidents.
Thanks for all the replies
TorinoCobra71
Besides telling you to run-fast-and-far away from that coin dealer, this is the best advice given. Take your profit off the table.
Auction # 1
<< <i>Thanks folks for the replies and the welcome.
Yep I am pretty new at this but I felt I had a fairly valulable coin in hand and I even pointed out to him that this was a 20th anniversary coin. At that point he just shrugged his shoulders. I just turned my back on him and walked out. I felt this guy was treating me like an idiot. I know one thing, I will never do business at this coin shop!
Thanks
Jonathan >>
Was this dealers name Garner the jackass ripoff self proclaimed dealer?????
<< <i>
Any thoughts on why the owner appraised this so low?
>>
Because he's a crook.
My icon IS my coin. It is a gem 1949 FBL Franklin.
at that time i had one of three (i think probably the second one certified MS70)...anyway I sold it. I had a strike price (willing to part with) and someone wanted it for that amount. PM me and i will let you know, although it was for thousands more than what the going price is on eBay, now.
i'd recommend you do the same (SELL), either now or b4 the end of the year. if for some chance your coin does NOT spot and you have held onto it for years, then you may realize a nice appreciation over today. if it spots and you send it in for a review, you will not get the current PCGS price guide for that coin.
you could put it in a vacuum food saver bag and suck all the air out and hope for the best, if you plan to keep it and pray.
best of luck with whatever you decide to do.
ps
Sell it now before it milks. You have to assume that at some point it will milk.
When it milks what you can kiss that 70 bye, bye.
Yes I know PCGS has a guarantee, but how long will they be buying back milked Eagles. All 400,00 of them?
I would say at some point they will modify the guarantee, to exclude ASE's.
How much can a TPG absorb?
Let me tell you a story. I bought some Proof Silver Eagles from the Mint in the 1980's and 1990's. I saved the best, and last December I sent some of them into PCGS. One of them came back as a 70, and I sold it on ebay to a Registry collector in February for almost $5,000. One dealer here on this board offerred me $3,450 for it, and that's when I decided to sell it on ebay instead.
My advice - if you collect the Silver Eagles, just keep it in an Intercept Shield box in a cool, dry and stable environment. If you don't actually collect them, pick the time of your choosing and offer it on ebay with a minimum bid price. There are numerous competitive collectors who would want it, and the dealer who offered you $75.00 probably saw you as desperate for the cash. The fact that you inquire as to whether or not your expectations are too high tells me that your expectations are indeed way too low.
Since you had the foresight to have the set graded, it's clear that you are not a dummy or a complete newb. Many dealers (but not all of them) play this game all the time, giving you the idea that your stuff is common junk. It's your responsibility to do right by yourself. Congratulations on the coin!
P.S. - I took the money and used some of it to buy a coin I really wanted:
I knew it would happen.
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1