Grading Proof Coins For Collection Purposes Only

[Kevy70-migration]

For years I have collected from the Mint the "Silver Proof Sets" and recently my 13 year old son had taken a real interest in it with me. We spend hrs looking up the coins, we see how they are made, We have even gone to Philadelphia and now Denver to see the process first hand.

 

We go to eBay quiet a bit to see what others do with their coins. It was on there we noticed the new way that NGC mounts their coins. My son said that is "Cool" and I happen to agree. And that’s all that really matters to us. He asked starting with the president coins and beginning next year with the new "National Park coins" How hard it would be if we could collect one PF70 from each quarter in the silver proof set? I think it would be a good way for us to spend some quality time together and learning at the same time. It would also give a goal we can work towards together.

 

How difficult will this be (other than buying them from other sellers on eBay) to get a perfect PF70 from each president $1 coin and the National Parks? Will we have to go through a lot of "Proof" sets to get there?

 

When submitting to NGC, are we to open up the cases or can the be sent as they are directly from the mint? I should state that we will be collecting each coin individually and not in there "4 coin" case.

 

Are there ways to Pre-Grade the coins ourselves to maybe save some money and not submit every coin that comes our ways? Any suggestions on the best way of doing this?

 

[Dwaine]

It is probably cheaper to just purchase the coins from Ebay already graded PF70 than trying to pick the coins that will grade PF70.

 

I am doing that with this years set. I purchased some of the proof sets but then decided that it would be cheaper to just purchase the coins on Ebay than trying to submit multiple coins to NGC to get graded and hope for a complete set to come back as PF 70.

[WoodenJefferson]

This would be quite an exciting and wonderful thing you and your son can do together, nothing better than a common interest that can bond a relationship. I’m just going to hit on a couple of points and let others help out with the many part question.

 

The majority of PR-70 holdered (those put into plastic like NCG/PCGS/ANACS) coins were submitted by bulk (100 coins plus) and only about 10% of those might fall into the PR-70 or perfect grade. The vast majority will be PR-69’s along with a couple of 68’s, so there is a premium when you do get a PR-70.

 

I’m not saying that you can’t submit some coins and receive a PR-70, the chances are much better when you have the means and opportunity to submit coins in bulk. If you hold up a PR-69 and a PR-70 side by side, it might be down right impossible to distinguish the minute differences between the two grades.

 

You are better off just seeking those perfect coins by going on-line and visit auction houses or venues such as e-bay. Buy only top tier graded coins in those slabs (plastic) that are mentioned time and time again.

 

Good luck and congrats for having a son like that…big thumbs up!

[bsshog40]

I'm presuming that instead of NCS you are referring to NGC? Also as mentioned above, it would probably be easier to buy PF70's already graded. All it takes is one missed flaw to miss that grade and could cost you bundles until you get all 70's from what you submit. Good luck and I think it's great getting your son involved. It can be a great hobby for you both!!

[Schatzy]

Buying them already graded would save you in the long run.

It took me over 2 years to get good at spotting PF70 coins.

Right know 70-80% of the coins I submit come back PF70, I am still shooting for perfect.

 

If you want the silver quarters in PF70UC it is still almost cheaper to buy them

already graded. Here is a break down of the math.

 

Silver Quarter Mint Price..........$24.95 (Plus the shipping from the Mint)

Grading Fee X 6 Coins.............$75.00

Shipping to NGC......................$5.00

Shipping from NGC..................$19.30

Grand Total............................$124.25

 

There are sets that sell on eBay for less than $120.00 for the set.

[Old Pueblo]

I agree with the group. Probably cheaper to buy graded unless you get lucky.

However! It may be fun and educational to package a few coins and send them in for grading and follow the process. If you get a 69? so what... still a nice coin and you shared an experience with your son.

 

Good luck with your submission

[Kevy70-migration]

You all have really opened my eyes as I had no Idea what to expect. WoodenJefferson, I had it made up in my mind that it had to be closer to one in four that would be PF70! I guess not.

 

It doesn’t matter though; it’s just a matter of a different approach... And I’m here to learn and pass on. Schatzy, that is a really good Idea to become proficient at grading your own coins. Maybe we could learn those skills and use it to build our collection learning how to look at the coins. Maybe a little father son competition as to who can do it better... Are there DVDs out there or books that teach someone how to do that? What equipment do you need?

 

A VERY sincere Thank You for everyone’s Help! I'm more excited than ever now.

 

[BillJones]

At least in the case of PCGS getting the Proof-70 grade is part merit and part marketing. I am quite convinced that PCGS makes an effort to keep the number of Proof-70 coins down to help maintain higher market prices. The main people who chase these things are doing for registry points. If you keep the supply of new (recently graded) coins down the prices have a better chance of holding or increasing.

 

I suppose the idea of having everything “perfect” is appealing, but I think that the PR-69 Ultra Cameo coins are virtually has nice and cost a lot less. That’s the grade I buy for my type set. There is also something to be said for coins in the original mint packaging. As an “old time collector” that’s how I prefer them.

 

But this whole thing is really tied to a father-son relationship, and that what is more important than the economics or marketing strategies of the third party graders.

 

[CarlWohlforth]

If I need a loupe or strong magnifying glass to notice a difference between coins the difference isn't worth that much to me. Put another way if I can't tell the difference between a 69 and a 70 with my naked eye I won't pay extra for the 70. Just my opinion.

 

[Schatzy]

If I need a loupe or strong magnifying glass to notice a difference between coins the difference isn't worth that much to me. Put another way if I can't tell the difference between a 69 and a 70 with my naked eye I won't pay extra for the 70. Just my opinion.

 

I don't use a loupe or any other magnifying device to find 70's. I just use a desk lamp and my naked eye.

I did pay $3200 for my new eyes and I guess the 15 20 vision is paying off.

[robec1347]

If I need a loupe or strong magnifying glass to notice a difference between coins the difference isn't worth that much to me. Put another way if I can't tell the difference between a 69 and a 70 with my naked eye I won't pay extra for the 70. Just my opinion.

 

I don't use a loupe or any other magnifying device to find 70's. I just use a desk lamp and my naked eye.

I did pay $3200 for my new eyes and I guess the 15 20 vision is paying off.

 

How much would x-ray vision eyes cost?

[rrantique]

I C

[bsshog40]

 

 

I don't use a loupe or any other magnifying device to find 70's. I just use a desk lamp and my naked eye.

I did pay $3200 for my new eyes and I guess the 15 20 vision is paying off.

Ah ha, now I know your trick. I need to get rid of these dang Bi-focals!