Condition Rarity - A Modern Phenomena

[Mokiechan]

Who would choose this coin, send it to NGC, pay the associated fees, and be Satisified with this result.

 

Folks,

This journal entry is kind of a reaction to Allen's "ngc cencus ??" journal entry. In his Journal, Allen correctly states that modern high grade condition rarities are a risk at current prices because of the huge inventory of unopened mint packaged coins and pristine rolls existing in the hands of collectors and dealers.

 

I have recently purchased a coin with very little downside (about $5.95 postpaid) and very little upside. The coin I purhased is a 2012-S MS64 El Yunque Quarter, graded by NGC. This coin must have initially been submitted by someone who believed it would garner at least a 66 or 67. They must have been sorely disappointed with the MS64 grade.

 

I have not checked but I would tend to believe the 2012-S El Yunque in MS64 must be a great rarity at the moment. I would also tend to believe it will never be very valuable, at least in my lifetime. So my 5.95 investment seems about right.

 

This coin was purchased for my El Yunque Quarter Custom Set. The set will make its debut shortly. I am still waiting on arrival of a PCGS MS67 El Yunque Philadelphia quarter, purchased yesterday on Ebay. The whole set of 5 quarters came in slighly less than $50.00 with the Silver PF69 at 16.00 being the most expensive.

 

Thanks for your time and stay cool everybody.

 

Malcolm

 

See more journals by BeawChan

[Jack Robinson]

Thaks for your insights. I guess I am guilty, I think.

 

I have begun a nice collection of random dated U.S. Mint rolled Cents. I think I have about twenty rolls now, mostly from the early seventies and mid-eighties.

 

I picked up the Cent rolls for an average price of $4.00 per roll.

 

I also have about ten rolls of U.S. Mint rolled President $1.00. In a perfect world, when I do decide to sell the rolls -- as is and unopened -- I could get a few extra bucks out of the purchases since, I only paid face value for the $1 rolls.

 

[SPHansen]

The MS64 makes me think that an online dealer sent in a roll without self-grading to cull out the lower grades. I have seen 67s on eBay, and I myself picked up an MS66 for my collection for not much more than you paid (under $10 shipped).

 

I usually do not concentrate on MS sets, as these coins can really get pricey to have a top rated set. This coin, however, is an exception, as it is only available in bags/rolls, and is a 'first'.

[newprepper]

I see this happening with the ASE's. You can buy gobs of 70's everywhere. The early ones have a high price, less of them, the new ones you can prop a wobbly chair with there are so many

[mkman123]

I wonder too like the poster above if it was a dealer sending in a large bulk amount which is cheaper fee wise

[RWB]

Why?

[newprepper]

In my opinion, the early ms-70's are very valuable, so a dealer(s) invests a huge amount to get a bunch graded thinking they will capitolize the market, instead there are so many they are not really worth anything, just a simple case of supply and demand

[RWB]

...just a simple case of supply and demand.

 

I suspect there is more than this to the phenomenon.

 

[newprepper]

...just a simple case of supply and demand.

 

I suspect there is more than this to the phenomenon.

 

Just to clarify, I think there are so many new recent 70's the price is low because there is not enogh demand................what do you suspect?

[BULLY]

I give a thumbs up to even the MS64 coin.

 

Would I have been happy to submit it for grading and to receive it at that grade -- NO WAY!

 

However, to acquire it on the secondary market for $5.95, that's less than the NGC grading fee -- never mind postage TO and FROM NGC -- plus the cost of the coin itself, insurance, other coin grading fees, etc.

 

Whenever I can get a graded coin (though I prefer MS/PF69) coins for $10 or less, I'm delighted.

 

I think another member commented on finding a higher grade for about $10.

 

I still think your deal was fine -- I mean the value may never rise above what you paid for it, but it's less than a grading fee, and it fills a slot in your collection, so I say -- GO YOU!