86,000 Morgans submitted to PCGS?

[cpm9ball]

Has anyone heard about this? Supposedly, it was on the cover of Greysheet, but I don't subscribe to it any more.

 

Chris

[Kurtdog]

Well, given the the speed at which we hear they grade over there, that ought to take them, what, almost an hour?

 

Seriously, Chris, I never heard it. If it's true, though, I'll bet the customer qualified for a volume discount.

[cpm9ball]

I just hope it wasn't a bulk submission from Coin Vault.

 

Chris

[Kurtdog]

To sell on Coin Vault all they need to come back with is a grade of "Very Shiny."

[cpm9ball]

Could you imagine searching those puppies for the VAM assignments? Suppose you were able to attribute 10 coins per hour working 8 hours per day, five days a week. It would take you more than 4 years to complete the job.

 

Chris

[Kurtdog]

I'll bet they were submitted through the PCGS Express Service.

[WoodenJefferson]

That's over 3 million melt, 86 bags!

 

@ a grading fee of $11 per coin, that's close to 1 million.

[e1cnr]

they must have been pre-screened by someone before submission, don't you think?

[gmarguli]

That's over 3 million melt, 86 bags!

 

@ a grading fee of $11 per coin, that's close to 1 million.

 

No way they paid $11 per coin. Bulk submissions are cheap and Morgans are super easy to grade. On a submission that size they probably paid $4-$6 a coin.

[$ilverHawk]

I'm curious. Exactly where did this submission information come from? Which issue of the Grey Sheet?

 

Nothing that I saw in the April 1 edition. April 1 hmmmm?

 

$ilverHawk

[cpm9ball]

I'm curious. Exactly where did this submission information come from? Which issue of the Grey Sheet?

 

Nothing that I saw in the April 1 edition. April 1 hmmmm?

 

$ilverHawk

 

Supposedly, it was in the Market section of the April 15 issue.

 

Chris

[Houston Investor]

I don't doubt it with Silver in a Bull Market - up approximately 48% YTD.

 

Silver is on fire but my focus is on any mod silver pf set, commem dollar, or ASE (slab 69) I can get at melt + $10 or less. My clients are buying this stuff like crazy. Gold (outside of my own personal collection / investment in my special bank box) is practically sold out.

 

On the other hand I hav enoticed some seem to be fleeing Numismatic material to beef up their bullion portfolio or get rid of slow moving material. No wonder many dealers are adding "Gold and Silver" to the business name.

 

I still have been buying nice CC Morgan and DMPL Dollars though along with my fav Classic Commems that I find really attractive. The true collector in me just wont let go.

[michael]

would'nt surprise me in the least

 

there are still hundreds/thousands of bags out there original and/or put together that are still raw

[just-john]

My guess would be that their all 1921 P-D-S. With some kind of say end of the series or era or last of their kind label .So add the spot price of plastic plus the label and couple bucks labor maybe $4.00ea that's still $344,000.00 someone gets a nice bonus and some unknowing TV viewer get taken.