2017 Palau $5 shark bite coin

[B.L.21]

Hey guys, just purchased a 2017 Palau shark bite coin pf70 DCAM (PCGS).  Everything I looked up on them  had them selling for over $200, some not graded at all. I purchased mine for $150. Deal seemed to good to be true, it’s from a seller with tons of good reviews. Guess I’m nervous as I paid well below what others are selling for. Does anyone have any background with these type of coins? I’ll post the photos when I get it later this week (if you’re allowed to post PCGS coins here) 

[Mohawk]

1 hour ago, B.L.21 said:

Hey guys, just purchased a 2017 Palau shark bite coin pf70 DCAM (PCGS).  Everything I looked up on them  had them selling for over $200, some not graded at all. I purchased mine for $150. Deal seemed to good to be true, it’s from a seller with tons of good reviews. Guess I’m nervous as I paid well below what others are selling for. Does anyone have any background with these type of coins? I’ll post the photos when I get it later this week (if you’re allowed to post PCGS coins here) 

Hi B.L.

While I'm not familiar with the coin type that you're referring to (pics will be a big help), I just wanted to let you know that posting pics of PCGS coins here is no problem at all

~Tom 

[B.L.21]

[Mohawk]

Thanks for the photos B.L.  I don't see anything that concerns me with your coin.....it's a nice coin and it has PCGS certification.  I think you just got a good deal.....that can happen sometimes, especially with moderns.  I sell a lot of moderns and I'll discount things that are fine sometimes for various reasons.  To cite a recent example, I bought two 1971-D Friendly Eagle variety Eisenhower Dollars graded MS 65 by PCGS at a really good price.  The thing was that they weren't attributed on the label as the variety.  I don't do business with PCGS in the normal course of events and to join PCGS just to send those two coins in to be attributed would have destroyed any profit I would have made on the coins in question.  So, I sold them at a discount.  Two collectors got a good deal on nice MS 65 Friendly Eagles and I still made a profit.  Your seller could have done a similar thing.

[B.L.21]

13 minutes ago, Mohawk said:

Thanks for the photos B.L.  I don't see anything that concerns me with your coin.....it's a nice coin and it has PCGS certification.  I think you just got a good deal.....that can happen sometimes, especially with moderns.  I sell a lot of moderns and I'll discount things that are fine sometimes for various reasons.  To cite a recent example, I bought two 1971-D Friendly Eagle variety Eisenhower Dollars graded MS 65 by PCGS at a really good price.  The thing was that they weren't attributed on the label as the variety.  I don't do business with PCGS in the normal course of events and to join PCGS just to send those two coins in to be attributed would have destroyed any profit I would have made on the coins in question.  So, I sold them at a discount.  Two collectors got a good deal on nice MS 65 Friendly Eagles and I still made a profit.  Your seller could have done a similar thing.

 

Thanks for the follow up Mohawk, always appreciate your insight. I thought it was a really cool coin.

[Mohawk]

7 minutes ago, B.L.21 said:

 

Thanks for the follow up Mohawk, always appreciate your insight. I thought it was a really cool coin.

No problem.  I'm always glad to help.  And it is a cool coin!  Aside from Roman coins of Faustina the Younger and her daughter Lucilla, the other major thing I collect are coins with animals on them and I love sharks!  I think that's a great pickup B.L., thanks for sharing it with us

[Mokiechan]

Now why did I think the coin was actually going to have a simulated bite out of its planchet.  It is a very nice coin. 

[B.L.21]

3 minutes ago, Mokiechan said:

Now why did I think the coin was actually going to have a simulated bite out of its planchet.  It is a very nice coin. 

 

It has a bend in the coin where the bite is

[jgrinz]

Palau tend to issue low mintage volume unique LOOKING coins. You will probably find that there are only 15-1800 of those made ( Guess ) 

I bought 2 skull ones a few months ago - May not make money on a resale in a few years but cool to look at.

Did yours come with box and documentation ... also always a good thing.

 

 

[jgrinz]

I think this issue is supposed to be 999 pieces ... Good Luck with it

[B.L.21]

1 hour ago, jgrinz said:

I think this issue is supposed to be 999 pieces ... Good Luck with it

 

Yes, 999 were minted. I don’t have it yet, as I ordered it on Sunday off eBay. Excited to get it.