2006 RP sets
ccmorgan
Posts: 1,232 ✭✭✭
First off I'd like to say my coin collecting desires have faded in recent years after 35+ years of on and off collecting.
Due to my age now my views in life have changed significantly. A few years ago I sold most of my collection plus some savings money to payoff the house and save $350/month in interest.
I did keep some of my favorites like the 2006 reverse proof coins that I have in the PCGS "first strike" holders. I'm aware of the milk spots and some of these I have do have them.
To make a long story short I'm now looking to part with these too but realizes there might be no desire for these coins to collectors for obvious reasons.
I remember a while back reading on these forums that PCGS was buying back their slabbed RP coins due to the milk spots.
1. Is this true and is it still true?
2. What is the current value of the 2006 RP sets and by single coins?
3.Are they just worth melt now?
Advice/suggestions are welcome!
Thanks!!
Due to my age now my views in life have changed significantly. A few years ago I sold most of my collection plus some savings money to payoff the house and save $350/month in interest.
I did keep some of my favorites like the 2006 reverse proof coins that I have in the PCGS "first strike" holders. I'm aware of the milk spots and some of these I have do have them.
To make a long story short I'm now looking to part with these too but realizes there might be no desire for these coins to collectors for obvious reasons.
I remember a while back reading on these forums that PCGS was buying back their slabbed RP coins due to the milk spots.
1. Is this true and is it still true?
2. What is the current value of the 2006 RP sets and by single coins?
3.Are they just worth melt now?
Advice/suggestions are welcome!
Thanks!!
Love the 1885-CC Morgan
0
Comments
<< <i>First off I'd like to say my coin collecting desires have faded in recent years after 35+ years of on and off collecting.
Due to my age now my views in life have changed significantly. A few years ago I sold most of my collection plus some savings money to payoff the house and save $350/month in interest.
I did keep some of my favorites like the 2006 reverse proof coins that I have in the PCGS "first strike" holders. I'm aware of the milk spots and some of these I have do have them.
To make a long story short I'm now looking to part with these too but realizes there might be no desire for these coins to collectors for obvious reasons.
I remember a while back reading on these forums that PCGS was buying back their slabbed RP coins due to the milk spots.
1. Is this true and is it still true?
2. What is the current value of the 2006 RP sets and by single coins?
3.Are they just worth melt now?
Advice/suggestions are welcome!
Thanks!! >>
1. PCGS has never "bought back" a coin since they never owned them in the first place. They only grade them and then offer a guarantee on that grade. The cost differential between what the coin graded vs what it would grade with milk spots is what gets paid back to the "owner" of the coin. For example, if you have a First Strike 2006-W Coin in MS70 with significant spotting, PCGS may downgrade it to MS68 and offer to reslab the coin at MS68 First Strike with a $300 to $800 compensation. (Directly relative to Current Market Values. The above is according to 2009 Market Values) If you agree to the offer, the coin in question gets regraded at First Strike and returned to the owner along with grading compensation.
On Nov 12th, 2007, Teletrade sold a 2006-W MS70 First Strike Anniversary Eagle for $8,400. On dec 16th, 2009, a 2006-W MS70 First Strike Anniversary Eagle sold for $975. A heart breaking drop in price yet no where near melt.
2. These sets still hold worth while premiums with that First Strike Designation. Especially the PR/MS70 coins. Milk Spots or not. However, the premiums may not be anywhere near what they were in early to mid 2007. Coins which do not have milk spots command higher premiums since if they haven't spotted by now, they just are not going to spot.
3.Absolutely Not. Especially with the First Strike label.
The name is LEE!
At any rate some don't have spots and I'm looking to part with them. I haven't been around this forum much in the past few years. I've been turned off by the high prices from the mint these days due to bullion prices and just don't have the desire I once had for collecting.
I still love the CC morgans though and may aquire a few of them if/when I can sell off what I have.
Any info on value of these first strike 2006 RP coins spotted or not?
<< <i>Thanks! I thought the PCGS "by back" story that I remeber reading here just didn't sound right or most likely my memory just isn't right. lol
At any rate some don't have spots and I'm looking to part with them. I haven't been around this forum much in the past few years. I've been turned off by the high prices from the mint these days due to bullion prices and just don't have the desire I once had for collecting.
I still love the CC morgans though and may aquire a few of them if/when I can sell off what I have.
Any info on value of these first strike 2006 RP coins spotted or not? >>
On PCGSCoinfacts.com, the following "recent" sales were recorded for the 2006-P Reverse Proof coin:
PR68 $246 Feb-2012 eBay eBay Sales in February, 2012 671 PCGS
PR69 $272 Feb-2012 eBay eBay Sales in February, 2012 1178 PCGS
PR69 $265 Feb-2012 eBay eBay Sales in February, 2012 1358 PCGS
PR69 $265 Feb-2012 eBay eBay Sales in February, 2012 1359 PCGS
There is no indication whether or not these were First Strike. I expect that they were NOT. PCGSCoinFacts does not distinguish this but Teletrade does. Sales on Teletrade were at around $700 in April of last year.
for the 2006-W Proof coin, recent sales are shown as:
PR69 $110 Feb-2012 eBay eBay Sales in February, 2012 451 PCGS
PR70 $220 Feb-2012 Teletrade Auction 3224 1636 PCGS
PR69 $50 Feb-2012 Teletrade Auction 3218 1710 PCGS
PR70 $127 Jan-2012 eBay eBay Sales in January, 2012 715 PCGS
PR70 $196 Jan-2012 eBay eBay Sales in January, 2012 3928 PCGS
Again, no specific First Strike designations.
Teletrade had a single sale at $200 in January Last Year.
for the 2006-W Burnished coin, recent sales are shown as:
MS70 $660 Jan-2012 eBay eBay Sales in January, 2012 2358 PCGS
MS70 $574 Dec-2011 eBay eBay Sales in December, 2011 1010 PCGS
Again, no specific First Strike designations.
Teletrade's last recorded sale was on Dec 16th of 2009 at $975.
The name is LEE!
<< <i>
<< <i>Thanks! I thought the PCGS "by back" story that I remeber reading here just didn't sound right or most likely my memory just isn't right. lol
At any rate some don't have spots and I'm looking to part with them. I haven't been around this forum much in the past few years. I've been turned off by the high prices from the mint these days due to bullion prices and just don't have the desire I once had for collecting.
I still love the CC morgans though and may aquire a few of them if/when I can sell off what I have.
Any info on value of these first strike 2006 RP coins spotted or not? >>
On PCGSCoinfacts.com, the following "recent" sales were recorded for the 2006-P Reverse Proof coin:
PR68 $246 Feb-2012 eBay eBay Sales in February, 2012 671 PCGS
PR69 $272 Feb-2012 eBay eBay Sales in February, 2012 1178 PCGS
PR69 $265 Feb-2012 eBay eBay Sales in February, 2012 1358 PCGS
PR69 $265 Feb-2012 eBay eBay Sales in February, 2012 1359 PCGS
There is no indication whether or not these were First Strike. I expect that they were NOT. PCGSCoinFacts does not distinguish this but Teletrade does. Sales on Teletrade were at around $700 in April of last year.
for the 2006-W Proof coin, recent sales are shown as:
PR69 $110 Feb-2012 eBay eBay Sales in February, 2012 451 PCGS
PR70 $220 Feb-2012 Teletrade Auction 3224 1636 PCGS
PR69 $50 Feb-2012 Teletrade Auction 3218 1710 PCGS
PR70 $127 Jan-2012 eBay eBay Sales in January, 2012 715 PCGS
PR70 $196 Jan-2012 eBay eBay Sales in January, 2012 3928 PCGS
Again, no specific First Strike designations.
Teletrade had a single sale at $200 in January Last Year.
for the 2006-W Burnished coin, recent sales are shown as:
MS70 $660 Jan-2012 eBay eBay Sales in January, 2012 2358 PCGS
MS70 $574 Dec-2011 eBay eBay Sales in December, 2011 1010 PCGS
Again, no specific First Strike designations.
Teletrade's last recorded sale was on Dec 16th of 2009 at $975. >>
Now that is some damn good info. 19Lyds, kudos for going that extra mile to produce all that info.
Successful card BST transactions with cbcnow, brogurt, gstarling, Bravesfan 007, and rajah 424.
Mine are all 69s in first strike holders.
I know the reverse proof will get "set"....what about the other 2 coins?
thanks
<< <i>19Lyds thanks for the leg work bud!!
Mine are all 69s in first strike holders. >>
I chose to quote MS/PR70 prices simply because thats where the money is and where the money has had some staying power provided you purchased your sets directly from the US Mint. If you were a part of the aftermarket craze, the potential for losing a lot of money is definitely there. I can't even imagine how the person that paid $8,000 for a coin which today is under a grand must feel.
Oh wait a minute, I think I do since I paid well over $500 each for some Double Edge Lettering and Missing Edge Lettering Adams Dollars!
Nah! It still isn't 8 grand!
If you do this stuff enough times, the picture gets very clear as the market for Moderns can be very fickled and it moves very quickly from one "hot" item to the next "hot" item. Very few have actual "staying power" and recognizing this fact can save you thousands in the long run. The trick is in recognizing the "potential" and then watching that "potential" become a reality.
The 2006 SAE Anniversary sets are REAL winners as far as I'm concerned in that their prices have consistently stayed above the "double mint issue" price since 2006. I don't see this price level changing but again, the trick was in seeing that potential and acting upon it.....................in 2006.
The name is LEE!