What am I missing with this listing? 1 1

[ThePhiladelphiaPenny]

On APMEX I saw a listing for a BU peace dollar for $39.99 Random date. My first thought is that the coin doesn't come with it, because there is a Christmas card of something similar involved. But it says you get a BU peace dollar. What am I missing? A BU peace is worth way more than that! Listing: https://www.apmex.com/product/195664/1922-1935-peace-silver-dollar-bu-w-snowy-village-card

[Sandon]

   Actually, $39.99 would be a near current retail list price for a common date (probably 1922 or 1923) generic uncertified "BU" Peace dollar.  These dates, as well as the 1924 and 1925, list in MS 60 at $42 in Coin World, $45 in the NGC Price Guide. Where are you getting your pricing information?

   I clearly remember when such pieces could be bought for $5 to $7 each.

   

Edited October 7 by Sandon

[Coinbuf]

Seems about high retail for a common date Peace dollar at today's silver value.

[powermad5000]

I'll put my whole response to this rather bluntly which I normally don't do.

While APMEX is a trusted seller and a good seller and I have bought some coins from them in the past, this listing is one of theirs that is poop. It is a sucker listing for them to move some inventory that wouldn't move otherwise. I avoid all listings of this type. For one, BU is a "generic" description of a coin that will grade between MS 60 and MS 63 so lets start with that. Secondly, they used a stock photo. I don't buy ANY coin off of a stock photo. I only buy coins from internet purchase of the EXACT coin shown that I will get and I require there to be a full no questions asked return policy on top of that due to any aberrance the coin may have that the photography might be hiding.

The snowy card has not a thing to do with the coin and you can throw that in the garbage in my opinion.

APMEX probably got all of these at melt value and are making a modest $10-$15 off of each one bought. While this doesn't sound like much, if they sell 100 of these, they just made $1,000 or so. Let's dive into the listing. 1922-1935. You don't get a choice of what will come to your door. And as we deep dive into the series, I can GUARANTEE you will NOT get any of these coins if you make a purchase : 1922 D, 1922 S, 1923 D, 1923 S, 1924 S, 1925 S, or any date/mintmark combo 1926 and later. You will get a common Peace dollar date like a 1922 (P), 1923 (P), or 1924 (P). They are not going to "give away" a lower mintage 1928 or any of the S mintmarked ones in MS for $40. This is why I call it a sucker listing. You think if you make a purchase you have a shot at getting an MS 1928 for $40. Legally they can do this as they set the range from 1922-1935 with no guarantee on what you are going to get.

My advice to you now and in the future, if you want a common date Peace dollar or any kind of coin for that matter, spend your money directly on an NGC or PCGS certified one in the first place. Avoid all garbage listings like this that give some "range" of dates, and avoid all listings that show more than 1 as the quantity because the stock photo will be of either the best piece, or just a premium quality piece that the seller might not even have in hand. Trust me, there are enough coins out there to buy them directly and stay away from this kind of nonsense.

Edited October 7 by powermad5000

[ThePhiladelphiaPenny]

On 10/7/2024 at 4:36 PM, powermad5000 said:

I'll put my whole response to this rather bluntly which I normally don't do.

While APMEX is a trusted seller and a good seller and I have bought some coins from them in the past, this listing is one of theirs that is poop. It is a sucker listing for them to move some inventory that wouldn't move otherwise. I avoid all listings of this type. For one, BU is a "generic" description of a coin that will grade between MS 60 and MS 63 so lets start with that. Secondly, they used a stock photo. I don't buy ANY coin off of a stock photo. I only buy coins from internet purchase of the EXACT coin shown that I will get and I require there to be a full no questions asked return policy on top of that due to any aberrance the coin may have that the photography might be hiding.

The snowy card has not a thing to do with the coin and you can throw that in the garbage in my opinion.

APMEX probably got all of these at melt value and are making a modest $10-$15 off of each one bought. While this doesn't sound like much, if they sell 100 of these, they just made $1,000 or so. Let's dive into the listing. 1922-1935. You don't get a choice of what will come to your door. And as we deep dive into the series, I can GUARANTEE you will NOT get any of these coins if you make a purchase : 1922 D, 1922 S, 1923 D, 1923 S, 1924 S, 1925 S, or any date/mintmark combo 1926 and later. You will get a common Peace dollar date like a 1922 (P), 1923 (P), or 1924 (P). They are not going to "give away" a lower mintage 1928 or any of the S mintmarked ones in MS for $40. This is why I call it a sucker listing. You think if you make a purchase you have a shot at getting an MS 1928 for $40. Legally they can do this as they set the range from 1922-1935 with no guarantee on what you are going to get.

My advice to you now and in the future, if you want a common date Peace dollar or any kind of coin for that matter, spend your money directly on an NGC or PCGS certified one in the first place. Avoid all garbage listings like this that give some "range" of dates, and avoid all listings that show more than 1 as the quantity because the stock photo will be of either the best piece, or just a premium quality piece that the seller might not even have in hand. Trust me, there are enough coins out there to buy them directly and stay away from this kind of nonsense.

I appreciate the blunt answer! But I do want to ask, you said to buy certified coins from NGC or PCGS, but are you just talking about online? Because often all I can afford are raw coins (which I only buy in person).

 

On 10/7/2024 at 3:11 PM, Sandon said:

 Actually, $39.99 would be a near current retail list price for a common date (probably 1922 or 1923) generic uncertified "BU" Peace dollar.  These dates, as well as the 1924 and 1925, list in MS 60 at $42 in Coin World, $45 in the NGC Price Guide. Where are you getting your pricing information?

An old outdated Red Book. I need to update, but I know that it isn't always the most accurate guide anyway.

[powermad5000]

On 10/8/2024 at 4:00 PM, ThePhiladelphiaPenny said:

I appreciate the blunt answer! But I do want to ask, you said to buy certified coins from NGC or PCGS, but are you just talking about online? Because often all I can afford are raw coins (which I only buy in person).

Not at all. I buy mostly raw coins on the internet and anything I buy at coin shows is certainly raw because I can do an in hand inspection. I just meant in this particular case of a Peace dollar in some kind of slab at that price that it wouldn't cost you much more to buy a graded NGC or PCGS slab  MS 60 - MS 63 of one of these common date Peace dollars instead of buying one from this listing with a generic BU designation and worthless snow card.

[RWB]

On 10/7/2024 at 3:11 PM, Sandon said:

   I clearly remember when such pieces could be bought for $5 to $7 each.

I remember when they were bullion... 

[VKurtB]

On 10/9/2024 at 1:17 PM, RWB said:

I remember when they were bullion... 

Spoiler: they still are. Just try selling them to a dealer. You’ll see.