'Proof like' by CaptBrian1

[CSJournals-migration]

Is it real? Only my coin dealer knows for sure.

 

I have been acosted twice now by a dealer I don't know to buy coins he says are NGC registered as 'PROOF LIKE' ' & using words like 'Premium Quality'.

 

Does this mean anyting to anyone?

 

The coin this time is an 1879 10 Cent MS67 NGC PL <Proof like].

 

Any input regarding this coin and others he classifies as "Proof-Like" would be appreciated greatly.

 

Thanks

Capt Brian

 

See more journals by CaptBrian1

[newprepper]

ask for the certification # and use the verification here

[mvcoins-migration]

NGC states the following, "For Morgan Dollars and selected other coin types, the designations ‘PL’ (prooflike) and ‘DPL’ (deep prooflike) may appear. These indicate only the degree of reflectivity evident in a coin’s fields and make no implication as to other qualities associated with proof coins, such as frosted devices and superior sharpness. NGC’s use of ‘DPL’ is equivalent to other grading services’ employment of ‘DMPL.’ These abbreviations mean the same thing, and their alternative use is merely a matter of semantics."

 

[lqueen6]

As any rare coin there are RISKS! Book retail support is NOT as good, on Prooflikes!

Proof like coins are Rare & Look great! The BIG problem you have ALWAYS is:

1. Will you pay enough to win it?

2. Can you get your money back when you need to resell it?

I have had some later LOSS repurchases at a FAR lower price!

Best of Luck!

[mkman123]

Contact physics fan as he knows a lot abt Pl coins and could help u

[Six Mile Rick]

Capt,

I have purchased the PL and DMPL rated coins in the past from dealers. In turn I have offered the same coins to the dealers also. There was a nice premium added to the coins when I purchased them but when I offered them back to other dealers I was told they didn't hold premiums and were only regular grey sheet material price wise. Like stated earlier, be sure you can get your investment back or that you are very happy with adding the coins to your collection.

 

CURIOUS----$2940 listed NGC price value for the MS67 so what is a dealers asking price on a MS67PL???

My guess would be around $4000

[Jack Robinson]

Hello Captain,

 

I know that I am a Newbie at this but, I have noticed two topics that have not been mentioned: No one has brought up the following --- the Extreme quality FAKES coming out of China.

 

Which brings me to my second observation: Your choice of words interest me, -- . . . being acosted twice now by a dealer that I dont know --

 

Why would an unknown dealer contact you? I still receive unsolicited telephone calls from those pesty TV coin shows but, at least I asked for updates.

 

IMHO, beware of what is being offered to you. Six Mile Rick quoted it best: -- CURIOUS. -- (Unless there is more to this subject then just what you have posted)

 

You are doing what is best, asking (researching) before buying. Have fun and I hope you find some great coins during your adventures.

 

Semper Fi !

 

Jack

 

 

[MarkFeld]

If I am reading it correctly, the NGC Census Report shows four MS67 PL 1879 dimes.

 

I would avoid doing any business with any unknown dealer who "accosted" me or contacted me out of the blue.

 

Also, the term "premium quality" is subjective, ambiguous, over-used and abused. Far more times than not, it simply means that the seller is hyping the coin.

 

Heritage sold an NGC MS67 PL example for $2530 in July - chances are good it is the same coin you were offered.:

 

 

Sold For: $2,530.00‡

Make An Offer To Owner Help: Make An Offer To Owner

1879 10C MS67 Prooflike NGC....

Lot 3421 » Dimes » Seated Dimes

Service: NGC

Grade: MS67

Auction Date:

Jul 12, 2012

Bid Source: Internet

 

The identical coin brought $2760 last year:

 

Sold For: $2,760.00‡

1879 10C MS67 Prooflike NGC....

Lot 3294 » Dimes » Seated Dimes

Service: NGC

Grade: MS67

Auction Date:

Apr 27, 2011

Bid Source: HA.com/Live

 

 

[CaptBrian]

Thank you all for your repsonses. I did not buy any of the coins offered, and the salesman wound up being mad and said, "You don't have the ba**s to buy anything!". That gave me a sigh of relief as with his temper tantrum of me not buying then, showed me his true colors. What a shame. I have had so many people try to steal from me, sell me junk, etc., that I am as wary as a hen in a foxhouse.

Again, thanx to all.

Happy collecting.

Capt. Brian

1/5/13