One Good Turn Deserves Another
Entry posted by coinsbygary ·
Collector?s Society members are the best!
Many of you know that I collect Britannia?s, the United Kingdom?s version of the Silver American Eagle with a goal to collect the entire series in MS-69 or 70. The biggest problem I have in collecting this series is that Britannia?s in MS-69 are rare and almost unheard of in MS-70. Additionally, the United Kingdom limits the mintage to 100,000 Britannia?s annually, meaning the supply of coins is significantly lower than with ASE?s. Currently, I lack five MS-69 coins for my collection that has 13 total coins. Part of my collecting strategy is to purchase the best raw coins possible and submit them to NGC for grading. Consequently, early this year I purchased three 2010 coins from APMEX and one from E-Bay to submit to NGC for grading. My logic in buying four coins is for at least one of the four coins to grade MS-69.
Before I sent my coins to NGC for grading, I received an unsolicited offer from another Collector?s Society member asking if I was interested in purchasing an extra 2010 MS-69 Britannia from him. My response was a quick and enthusiastic, yes! I asked him how much money he wanted for the coin, and he offered it to me close to the cost of purchasing and grading. For an MS-69 in this series to go at cost is a steal, and I accepted his generous offer thinking one MS-69 in the hand is better than four in the raw.
Now months later with four coins in hand and a need to sell excess coins from my collection, I found myself deciding whether to sell the coins raw OR first have them graded. As I was examining the NGC population report, I found one 2010 Britannia graded MS-70, and thought I might get lucky. Furthermore, graded Britannia?s command a premium on the open market based on their grade and I figured, why not, what could I lose? Deciding to submit the coins for grading, I mailed them off to NGC with the result of my submission being 2 MS-69?s, a 67, and a 68. On a side note, if you collect bullion related coins, APMEX is an excellent supplier; theirs was the 68 and 69?s in my submission.
With four coins to sell, what do I do with the 69?s, especially since I got such a great deal on the one in my collection? The only answer for me was to turn around and offer the same kindness extended to me, to another Collector?s Society member. Knowing of another member who might be interested, I offered one of my 69?s to him at the identical cost to me. In thinking about Collector?s Society, I am so thankful to be a part of an organization that is not as much about NGC, as it is the people in it. Your collections and posts enrich my enjoyment of the hobby as I enter my third year in the Society. Every trade, purchase, or sale I have made with other members was done with integrity, honesty, and fairness. The journal posts are full of collecting experiences, information, and tips and I look forward to W.K.F?s journals on photography and your experiences as collectors. Thank you all for enriching my collecting experience.
This Memorial Day take time to honor those who paid the ultimate sacrifice for our freedom.
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