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3,247 posts

Will the real price please stand up!


Ok ok, dickering is fun. I love a good horse trading afternoon. I like to do it about 2 - 4 PM when my wits are the sharpest.


I find myself in the auction circle selling and buying but I can NEVER figure out how NGC or PCGS prices these things in their sites for Price Guides.


Now take fer instance, the 2000 $10 Platinum MS70 Eagle. Some call it a liberty head (which I reserve for the Libs of the 1907 or earlier where it actually says, Liberty on the hairpiece.


Go look at the NGC price for that coin, it has many auctions below $750. $322 is the most expensive an auction went for, not counting buyers and sellers premium which adds a little. I think 17% overall, so if we add in 17% we get: $379, NOT $750 as the guide shows.


Some upstart company, bid4assets.com or something like that, had one sold for $425.00. More than any of the auctions sold by PCGS or NGC.


So...NGC's price is $750.00 Where did that come from? I need an explanation. But that is an easy one, get this:


PCGS has their auctions as high as $2,950.00 and one in the $2200 range and a few in the sub $1000 range.


How in Kelsey's hat can you have a suggested price guide at $7500.00?


A month ago, it was 6000.00. While I was talking about it the price jumped to $6500, and now I look and its $7500.


Why don't I buy all I can from NGC, crack out the 70s and send them to PCGS?


There they show the population or census at 12. NGC shows 291 graded at 70, now that certainly is not rare, hard to find maybe. We need a discussion on just what is rare.


I spoke with the head honcho of PCGS at the F.U.N. Show in Orlando last January, and he said, quote: Well, its a manufactured market. unquote. When I tried to get a conversation going about it, I got no where and he had no real intelligent response. I mean, nothing I could tell a buyer that he should pay me $7000 or more for a coin I can buy almost anywhere for under $500 easy.


So, I walked away, dazed and confused as usual, and now I'm in a worse state.


The fellow I bought one from for $6000 allowed me 30 days inspection. After that conversation I sent it back and he credited my credit card account with my $6000. He still professed what a great deal it was at $6000.00.


Well, since then, I have had many searches out to find one of those 300 or so in either NGC or PCGS. Not really wanting one in one of the lesser graders like ICG.


So, today in a package from my dealer, whom I trust implicitly, as he was returning a coin I tried to get a CAC label, on which was instrumental in me not going along with the labelers, as I said in a recent journal dated this month. This is a one of a kind coin, with a PF68* and they didn't like it.


Anyway, included in the return package was the coin I sent back.

Ok, now what? lol I guess I made some sort of trade with a huge cache of coins, and he included this in the deal and it says PAID.


Well, now I don't know what to do.


The question remains: What is the real price of this $10 MS70 Pt coin with PCGS label? I am going to list it on ebay, and a few other websites for $8000 and see what happens. Will someone be needful enough to pay ANYTHING for a semi-rare coin?


I say, semi-rare, because I can't find one anywhere in NGC, PCGS or any other secondary slabber.


Your comments are sorely needed. I intend to tell my dealer about this AFTER I try getting billions and billions for this on an auction site.


Hope you are having as much fun as I am.


Capt. Brian

The Lost Navigator


PS, I bought a 1907 $20 Lib today at a pawn shop for $100 over. It looks really great. If it hasn't been cleaned, I figure it for a MS61 should get me about $1700. Oh well, dice roll again.



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Most price values listed is a need to think in dealer profit reality zone. I'd say 50% Fair Market Price or a little more may be correct as of actual value. That leaves much room for dealers to mark down coins on sale and still pay the rent or e-bay fees. :)


Platinum --- There would be few available as there is not a very large market for coins that are modern and sell for over $1000. There are still very many for grading available though, that came in certain government issue or rolls. ;)


Roll the dice and send a group in. "Come on lucky 7's"--- 70's that is. :grin:


Dealers do not get coins graded if there is a small amount of, or no clients wanting them.


Just like a coin ---- There are 2 sides to PCGS and NGC clubs!!! --- Collectors ---Dealers!! :)



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