2008 W REVERSE PCGS MS70 First strike sold $1321
SL
Posts: 65
Tonight a 2008 W REVERSE PCGS MS70 First strike sold for $1321 on eBay.
Best Regards,
Steve
Best Regards,
Steve
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<< <i>the fad will be over soon, and prices will dive >>
Time will tell
$450-$500. IMO
<< <i>I'm going to weigh in to say that this is a very short frenzy that will end in a few weeks tops. The pops are way to high on the 70FS but there is also a buying frenzy going on so I do not blame sellers one bit. Having been a close to the silver eagles for a long time, I can say that while this represents the biggest ASE story, the pops will end up killing this. Pop 52,000+.
$450-$500. IMO >>
The First SttrikeSM window is gone, as of today's updated pop only 80 in MS70. I doubt you will see less than $1,000 for a First StrikeSM MS70 again.
<< <i>i'd say people have now wised up to the First Strike nonsense anyhow, and these will soon be seen as bringing a very modest premium if that. >>
The market does not agree with your observation. Collectors are just finding out about the scarcity of this variety, especially in MS70.
<< <i>
<< <i>i'd say people have now wised up to the First Strike nonsense anyhow, and these will soon be seen as bringing a very modest premium if that. >>
The market does not agree with your observation. Collectors are just finding out about the scarcity of this variety, especially in MS70. >>
so, you think collectors are buying these or speculators looking to take the risk and make a quick flip. i'd venture to say the latter. as far as the market agreeing with my observation, the MS/PF70 craze will be around a lot longer than the 'First Strike' craze; that started the downhill spiral when the lawsuits against the TPGs set in and the whole thing was brought out for everyone to see.
<< <i>
<< <i>I'm going to weigh in to say that this is a very short frenzy that will end in a few weeks tops. The pops are way to high on the 70FS but there is also a buying frenzy going on so I do not blame sellers one bit. Having been a close to the silver eagles for a long time, I can say that while this represents the biggest ASE story, the pops will end up killing this. Pop 52,000+.
$450-$500. IMO >>
The First SttrikeSM window is gone, as of today's updated pop only 80 in MS70. I doubt you will see less than $1,000 for a First StrikeSM MS70 again.
That's bullcrap and you know it. Current pop 80 at 70??? I can load a truck with grade coins < pop 80 that I'd love to get $1000 for. Just let me know how many you want.
<< <i>
<< <i>
<< <i>I'm going to weigh in to say that this is a very short frenzy that will end in a few weeks tops. The pops are way to high on the 70FS but there is also a buying frenzy going on so I do not blame sellers one bit. Having been a close to the silver eagles for a long time, I can say that while this represents the biggest ASE story, the pops will end up killing this. Pop 52,000+.
$450-$500. IMO >>
The First SttrikeSM window is gone, as of today's updated pop only 80 in MS70. I doubt you will see less than $1,000 for a First StrikeSM MS70 again.
That's bullcrap and you know it. Current pop 80 at 70??? I can load a truck with grade coins < pop 80 that I'd love to get $1000 for. Just let me know how many you want.
Completed eBay auctions show exactly 12 sold in a First Strike MS70 the past two weeks with another 6 currently offered. I don't know where you gather the First StrikeSM MS70 population is substancially higher at this point.
<< <i>These will be around $100-$200 tops 1 year from now >>
I'll bet you on that one. How about a round of golf at Torey Pines South? Today that would be $181 but may be more by then. They'll have cut the rough by then and I'll be able to break 80 again instead of struggling to break 100 like I did this past weekend. --Jerry
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&rd=1&item=160233954892&ssPageName=STRK:MEWA:IT&ih=006
<< <i>FBH, Griv's talking about other pop 80 coins, not these ASEs. But these ASEs will have a large following so who knows what the future will bring. --Jerry >>
Pocketbook talk Jerry.
<< <i>FBH, Griv's talking about other pop 80 coins, not these ASEs. But these ASEs will have a large following so who knows what the future will bring. --Jerry >>
The number of collectors that have a complete set of ASE's is probably at least twice the estimated 47,000 mintage of this variety. I can aslo tell you that other limited poulation ASE's like the 2006-W ASE NGC 20th anniversary Blue Label (20,000 mintage) has appreciated to ~$2,000 in MS70 from the ~$1,000 it was a few months after they were released. I see no reason why the only major variety of the entire ASE series would not have a similar premium in MS70 being it is a unique coin unlike the NGC Blue Label 20th anniversary ASE.
<< <i>Whats gonna happen to the prices when the milk spots start showing up.
Good point, though PCGS has always stood behing their product in the past and have been more than fair on their buy backs.
Maybe someday I will luck out like the folks who got a hold of this special ASE? It's a good excuse to buy Mint stuff. This whole thing is interesting to watch.
Perhaps someone ought to send a few cases of fine cognac to the mint? Or perhaps that is what started it all?
<< <i>
<< <i>FBH, Griv's talking about other pop 80 coins, not these ASEs. But these ASEs will have a large following so who knows what the future will bring. --Jerry >>
Pocketbook talk Jerry.
Greg,
I fully understand what you're saying. I'm somewhere in the middle on these ASEs. I'm a coin dealer so I sell these rather than hoard them. So I've been selling all of what I have at market price. 13 NGC MS70 ER flew out the door this weekend. maybe i'm selling them too cheaply, or maybe they'll be worth less than greens fees next year as others predict. Time will tell. --Jerry
<< <i>
<< <i>
<< <i>FBH, Griv's talking about other pop 80 coins, not these ASEs. But these ASEs will have a large following so who knows what the future will bring. --Jerry >>
Pocketbook talk Jerry.
Greg,
I fully understand what you're saying. I'm somewhere in the middle on these ASEs. I'm a coin dealer so I sell these rather than hoard them. So I've been selling all of what I have at market price. 13 NGC MS70 ER flew out the door this weekend. maybe i'm selling them too cheaply, or maybe they'll be worth less than greens fees next year as others predict. Time will tell. --Jerry >>
No you don't. Because I'm TOTALLY serious. I'm done. DONE! What are there, 6 or 7 FS Eagle supporters? The hell with it and the extra cost, effort, headache and frankly, who gives a crap?
Wondercoin
The bid is not automatically incremented above the next higher price. If you are the winner of all the items, your maximum bid is the price that you pay, even though it may be higher than a normal bid increment.
For example, the next higher bid was $1,100. In a normal auction for one coin, the winning price would be $1,150.
That said, the winning buyer wanted all five coins and bid high enough to ensure that he won.
The subsequent winning auction for $1,250 certainly confirms the demand for the MS70 08 rev 07.
I expect the prices for the MS70 08 rev 07 to go higher.
If you don't agree, just read my sig line below and take choice.
I am sitting here at my desk looking at 2 nice sets of the 2007 10th anniversary $50 2 coin platinum sets Fs PCGS 70 and blue label NGC 70. What I don't get is someone will pay for a once of silver compared to a first time Reverse strike of a Platinum coin. Now I know what Jack felt about his beans he had.
Why so gloomy?
I like fads, you can make stupid money at the beginning, and the right fad my infact hold.
Just sold a few 08W's/07 rev. at a 650% profit in 4 days after receipt.
Another fad the 01D Buffalo, sold out in hours I believe. There still over $200 any day of the week, unc or proof.
Wait another fad 06W singles, I remember this one like it was yesterday. Purchased for $19.95, sold two weeks later
for $125, 525% profit. Today these bring a minimum of $85.
Oh no another fad, 20th Anniv. Sets for $100 sold for nearly $600 at the peak, 500% profit.
99 silver proof sets, 2004 mintsets, 98 RFK/JFK set, 1997 Botanical set, 1997 Jackie Robinson, all are bringing strong numbers, still.
It's all about picking the right fad.
What if only 20k made it out the door, would you be in?
Fact is no one knows, except the guys that worked the shift, when the error occured.
<< <i>For those of us who have recently witnessed coins such as the "pop 200" FS 06 Proof Buffalo Gold jump to near "pop 450" a year+ after the FS deadline, I am not as excited about a "deadline having ended" as the next guy might be. Remember those who forget history are deemed to relive it.
Wondercoin
Even so it's still a ~$2,000+ coin vs ~$1,300 for the blue label in PR70.
<< <i>Whats gonna happen to the prices when the milk spots start showing up.
Does NGC have a better track record than PCGS on milk spots? Seems like I hear more about PCGS spotting but maybe that is for other reasons.
<< <i>I will start by saying, this is 2008 and errors are not suppose to happen. >>
I suppose it's still possible to track die deterioration in Modern issues, but the quality of Modern collector strikes is high quality these days, so who needs a label that says so, anyway? It's not the same issue as MS-69 vs. MS-70, which does describe real and qualitative differences.
The Mint's proliferation of issues will relegate this question to being a second-tier concern as even the most rabid collectors start to become fatigued with "New Issue Exhaustion".
As Chinese and other fakes become more prevalent, I would surmise that authentication services, slab security and reference databases will become much more relevant. For a company such as PCGS, the market opportunities to provide collector services will always be there, if they are alert to the changing market conditions and collector needs.
I knew it would happen.
<< <i>Tonight a 2008 W REVERSE PCGS MS70 First strike sold for $1321 on eBay. >>
Sheer insanity. You know the saying about a fool and his money..........
I can think of hundreds of other coins I'd rather buy for $1321 or less - coins that will hold their value - not speculative moderns in holders with meaningless designations.
Jim
<< <i>
<< <i>Tonight a 2008 W REVERSE PCGS MS70 First strike sold for $1321 on eBay. >>
Sheer insanity. You know the saying about a fool and his money..........
I can think of hundreds of other coins I'd rather buy for $1321 or less - coins that will hold their value - not speculative moderns in holders with meaningless designations.
Jim >>
Insanity? No one really knows. I like to look in my very old red book and see the values of the classic coins going for millions today. Yes they were "insane" high going for say a few thousand in 1970 but today go for millions. So what is really insane in this market? Perhapse the whole coin collecting world is insane.
<< <i>
<< <i>Tonight a 2008 W REVERSE PCGS MS70 First strike sold for $1321 on eBay. >>
Sheer insanity. You know the saying about a fool and his money.......... I can think of hundreds of other coins I'd rather buy for $1321 or less - coins that will hold their value - not speculative moderns in holders with meaningless designations. Jim >>
Maybe the price is too high but I don't buy your argument. People collect these. I don't collect morgans. Your argument is like me saying I can think of dozens of coins I'd rather have that that morgan that just sold for $5000. It would be a true statement but irrelevant to the morgan collector. --jerry
It's been a long time, but when I first became aware of coin collecting I wondered why in the world someone would pay more than a coin's face value for it.
To my young eyes, a nickel couldn't be worth more than a nickel, and I'd gladly sell my nickel to any fool who would be willing to buy it from me for a dime.
That was right before I started collecting coins, as I recall.
I knew it would happen.
<< <i>Insanity? No one really knows. I like to look in my very old red book and see the values of the classic coins going for millions today. Yes they were "insane" high going for say a few thousand in 1970 but today go for millions. So what is really insane in this market? Perhapse the whole coin collecting world is insane.
It's been a long time, but when I first became aware of coin collecting I wondered why in the world someone would pay more than a coin's face value for it.
To my young eyes, a nickel couldn't be worth more than a nickel, and I'd gladly sell my nickel to any fool who would be willing to buy it from me for a dime.
That was right before I started collecting coins, as I recall.
Just checked my 1969 book and shows an 1804 dollar sold for an insane price of $10,000 in 1950. What a fool they were to pay so much. Insane, right?
<< <i><<the fad will be over soon, and prices will dive>>
Why so gloomy?
I like fads, you can make stupid money at the beginning, and the right fad my infact hold.
Just sold a few 08W's/07 rev. at a 650% profit in 4 days after receipt.
I like stupid money. If I can get it in my hobby more the better.
For example: I will sell a couple of these beauties (cost $60) in June to by a 2008 W $25 Plat-Unc. That's just plain stupid!
Ren
<< <i>I'm going to weigh in to say that this is a very short frenzy that will end in a few weeks tops. The pops are way to high on the 70FS but there is also a buying frenzy going on so I do not blame sellers one bit. Having been a close to the silver eagles for a long time, I can say that while this represents the biggest ASE story, the pops will end up killing this. Pop 52,000+.
$450-$500. IMO >>
How do you come up with 52,000 plus, crystal ball or are you watching too much Medium. The mint already said 47,000 max so unless you are minting them in the basement please back up your facts.
Fred, Las Vegas, NV
<< <i>
<< <i>
<< <i>i'd say people have now wised up to the First Strike nonsense anyhow, and these will soon be seen as bringing a very modest premium if that. >>
The market does not agree with your observation. Collectors are just finding out about the scarcity of this variety, especially in MS70. >>
so, you think collectors are buying these or speculators looking to take the risk and make a quick flip. i'd venture to say the latter. as far as the market agreeing with my observation, the MS/PF70 craze will be around a lot longer than the 'First Strike' craze; that started the downhill spiral when the lawsuits against the TPGs set in and the whole thing was brought out for everyone to see. >>
MS/PF70 Craze? Maybe you like Xf better. Since when is a perfect grade a craze.
Fred, Las Vegas, NV
<< <i>
<< <i>
<< <i>Tonight a 2008 W REVERSE PCGS MS70 First strike sold for $1321 on eBay. >>
Sheer insanity. You know the saying about a fool and his money.......... I can think of hundreds of other coins I'd rather buy for $1321 or less - coins that will hold their value - not speculative moderns in holders with meaningless designations. Jim >>
Maybe the price is too high but I don't buy your argument. People collect these. I don't collect morgans. Your argument is like me saying I can think of dozens of coins I'd rather have that that morgan that just sold for $5000. It would be a true statement but irrelevant to the morgan collector. --jerry >>
Good point Jerry. It's like many people often say on here...if it's not your area of interest, etc, then don't bash it. Why are so many people getting bent out of shape because these are selling so high?
Maybe their subscription orders from the Mint didn't include any 08/07 W's? Or maybe they quickly bought 100 or 200 and they were all 08/08? Who knows.
Bottom line is it's just like any other coin. If the market is willing to pay it, then so be it. Sure, these will fluctuate. But everyone is free to make their own investment choices. It's not surprising that someone
would pay $1300+ for an ounce of silver with a LARGE collector base instead of buying a nice platinum ounce with a relatively SMALL collector base. They are playing the odds like all of us do at some point.
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Mitch, I think you will agree that these Siliver units are much different than the Gold Buffs
ANYONE SITTING ON an UN-OPENED First Strike Eligable Box of these Eagles is RISKING a chance for Spots.
Dealers are not ignorant on this issue. The BIG Mint Cases for First Strike have been submitted.
Anyone holding a FS Box in singles, 5 or 10 units (this will be a tough one to seal-up) had better be Vacuumed Packed at the very least.
This is very difficult to do physically with a large US Mint case of 15 or more.
If the Pops we are seeing do not rise much in the next week or so, these FS 70's are home runs.
<< <i>Whats gonna happen to the prices when the milk spots start showing up.
You bring the spots, I get the cookies!
Fred, Las Vegas, NV
<< <i>
<< <i>FBH, Griv's talking about other pop 80 coins, not these ASEs. But these ASEs will have a large following so who knows what the future will bring. --Jerry >>
The number of collectors that have a complete set of ASE's is probably at least twice the estimated 47,000 mintage of this variety. I can aslo tell you that other limited poulation ASE's like the 2006-W ASE NGC 20th anniversary Blue Label (20,000 mintage) has appreciated to ~$2,000 in MS70 from the ~$1,000 it was a few months after they were released. I see no reason why the only major variety of the entire ASE series would not have a similar premium in MS70 being it is a unique coin unlike the NGC Blue Label 20th anniversary ASE. >>
...but only a tiny percentage of them care about PCGS MS 70 FS.
WH
<< <i>...but only a tiny percentage of them care about PCGS MS 70 FS.
WH >>
Possibly, though given grade through of less than 15% MS70, that may be more than the population will have.