Modern NGC Graded Coins.

[CoinCurious]

I have been reading some posts and if I am understanding the posts correctly alot of people are against sending Modern coins in to be graded. Seems like some think its a waste of money.

 

Well I dont agree. I am currently collecting the Modern Commemoratives, all graded either by NGC or PCGS in 69 or 70. I like the series. I will buy the coins already graded if I find it at a reasonable price. But I prefer to look through uncertified coins and if I find what I believe is a 70 to send it in myself. (This method takes longer to get the coins needed but is cheaper and more fun) I love sending coins in to be certified. However as far as my modern coins go (with one exception but we wont talk about that) I dont send anything that I think would grade below 69 and so far I have not recieved one back below 69. And most of all the coins that I thought would grade 70, did. I also enjoy playing around with the registry sets. I have a blast moving up the ladder. And I like the plastic. I like being able to hand over a coin to someone who cares nothing about coins and not having to worry about it being mishandled. I also have duplicates of some of my coins because I knew they would all grade 70 so I sent them all in. (and yes, so far all my duplicates that I sent in have came back 70). This may be a waste of time to some but Im having a blast so it works for me. I love my Modern Slabbed Collection.

 

 

AND if I were to sell my entire Modern Collection today I would make a PROFIT.

Anyhow just my thoughts.

[MunkyMan95]

That's great. I personally don't mind the people who search through tons of coin for the perfect one, and then send it in. It's the people who send in 500 coins at one time, hoping, just hoping, for a few 70's.

 

JMHO

[bsshog40]

Hey if I had the money I would've sent my moderns to be graded aslo, especially before the hazing on them started.

[James_OldeTowne]

I have been reading some posts and if I am understanding the posts correctly alot of people are against sending Modern coins in to be graded. Seems like some think its a waste of money.

 

Well I dont agree. I am currently collecting the Modern Commemoratives, all graded either by NGC or PCGS in 69 or 70. I like the series. I will buy the coins already graded if I find it at a reasonable price. But I prefer to look through uncertified coins and if I find what I believe is a 70 to send it in myself. (This method takes longer to get the coins needed but is cheaper and more fun) I love sending coins in to be certified. However as far as my modern coins go (with one exception but we wont talk about that) I dont send anything that I think would grade below 69 and so far I have not recieved one back below 69. And most of all the coins that I thought would grade 70, did. I also enjoy playing around with the registry sets. I have a blast moving up the ladder. And I like the plastic. I like being able to hand over a coin to someone who cares nothing about coins and not having to worry about it being mishandled. I also have duplicates of some of my coins because I knew they would all grade 70 so I sent them all in. (and yes, so far all my duplicates that I sent in have came back 70). This may be a waste of time to some but Im having a blast so it works for me. I love my Modern Slabbed Collection.

 

AND if I were to sell my entire Modern Collection today I would make a PROFIT.

Anyhow just my thoughts.

The way I look at it, you have found a way to enjoy the hobby, and I think that's fantastic. I think the biggest argument against sending in moderns is for the vast majority of folks who (unlike yourself) do not know how to grade at that level, and are really just gambling. I have seen far too many times somebody spending $300 on certification fees, and getting pretty much only 68s and 69s. There's no way they are going to make money that way, and it will only leave a bitter taste behind for the hobby (or what they think is the hobby).

 

Just my take on it. Some of my best friends collect moderns, and if they enjoy it, I can appreciate that.

[Ivars]

I was wondering, is there any literature available for a new Hobbiest about what to look for in a PF70 or MS70 modern coin. I have 2007 Proof ASE and Uncirculated Silver Eagles coming in from the US Mint. I'd like to learn what to look for to select the correct coins to send in for grading.

 

Much appreciate the info

[rbrown4]

The ANA Official Grading Standards is a good reference book. You can find it either at most book stores or even in the local library. Or even easier the internet, search for ANA Grading Standards Definitions, etc.

 

Rey

[DC Dawg]

CoinCurious... it's called buying the coin and not the slab, a method I highly endorse as long as you are collecting what you like in the manner that you like.

 

IMHO... if that's what you like, who cares what others think!

 

Scott

[123cents]

I just buy modern commemoratives already graded. If you just wait for a while after the mint releases these coins, you can buy them graded MS-69 by NGC and sometimes PCGS for about the mint release price.

[DonHeath]

Please don't misunderstand this post, as it isn't meant to be sarcastic although it is hard to express my thought without it sounding that way. If you (or I for that matter) worry about what the mainstream thinks of your collection, you will be sorely disappointed when their gaze turns away from you and you are left with the coins they selected for you. Collect what you like, and remember, history isn't written about conformists.

[WinstonWare]

I don’t collect many moderns but there are a few modern commems that I like. If you enjoy collecting them – more power to you

[EZ_E]

If you (or I for that matter) worry about what the mainstream thinks of your collection, you will be sorely disappointed when their gaze turns away from you and you are left with the coins they selected for you

 

 

---------------------------------------

 

I have a near complete collection of MS/PR modern commemorative dollars in Dansco albums. I've briefly toyed with the idea of sending them in (and since there are over 100 coins, I'd get a bulk rate discount). But, the only motivation for me to do so would be to participate in the registry. But, why do I want over 100 slabs for this collection??? Apart from storage considerations, they are much more delightful to view as a set in albums. It is truly a beautiful set as a whole. Slabbed, the coins can only be appreciated individually and not so much collectively.

[jgrinz]

If you (or I for that matter) worry about what the mainstream thinks of your collection, you will be sorely disappointed when their gaze turns away from you and you are left with the coins they selected for you. Collect what you like, and remember, history isn't written about conformists.

 

Quote of the day I think ...

 

[Dcoin]

My trouble with modern certification is the notion that PF/MS70 = payday. You are not doing it to flip, rather as a way to have a well matched set. All the difference in the world IMO.

[Zoins]

My trouble with modern certification is the notion that PF/MS70 = payday. You are not doing it to flip, rather as a way to have a well matched set. All the difference in the world IMO.

I don't have a big problem with the PF/MS70 payday since cherrypicking classics is very similar, except that you can use the shotgun approach with moderns while the older stuff has likely been picked over several times already. Of course, people have been lucky getting lots of pre-1964 coins below melt from banks, pawn shops and estate sales.

 

The big unintended side effect of NCLT 70 Paydays is that final mintages may hit the maximum issue limit without broad collector support. I believe last year's Franklin commems hit the maximum mintages fast because the Mint had a 100 unit limit per household. Speculators helped bring the issue to the max mintage but may have created a situation with too much supply and not enough real demand.

[Dcoin]

Speculators helped bring the issue to the max mintage but may have created a situation with too much supply and not enough real demand.

 

Then the house of card came crashing down. i.e. the prices fell through the floor.

 

This is my fear with moderns as a whole. Eventually the non-hardcore collector will bail out and leave the modern market in ruins.

 

As a side bar...I do not mean to bash the modern coin collector, I just do not want to see the hobby take a dive because speculators decide to jump ship.

[DonHeath]

This is my fear with moderns as a whole. Eventually the non-hardcore collector will bail out and leave the modern market in ruins.

 

But wouldn't that ultimately make collectors safe? I'm rooting for an absolute collapse. I'd really appreciate it if someone would holder several hundred 69-P Washingtons in MS66. I'd like to pick a nice one from the bunch for a few hundred bucks.

 

Edited to add - I'd also like it if modern submissions dropped to the point pricing went to $5 a coin, and turnaround times 3 days.

[Ivars]

I agree that collect what you like is key! The coins I like are St Gaudens and 2 1/2 and 5 dollar Indians. In addition, I want to put a full set of Silver State Quarters together from 2000-2007 all PF70. Then wait until I can afford the 1999 set in PF70

 

I do enjoy this Chat room

[cladking]

 

Then the house of card came crashing down. i.e. the prices fell through the floor.

 

This is my fear with moderns as a whole. Eventually the non-hardcore collector will bail out and leave the modern market in ruins.

 

As a side bar...I do not mean to bash the modern coin collector, I just do not want to see the hobby take a dive because speculators decide to jump ship.

 

I don't believe there is even the remotest chance that "moderns as a whole" can crash and be left in ruins without the entire hobby of US coin collecting also crashing. Indeed, some parts of the modern markets actually have a broader base of support than the classic markets now days. In any case the modern market is far too wide and diverse to do anything in tandem.

[cladking]

...I'd really appreciate it if someone would holder several hundred 69-P Washingtons in MS66. I'd like to pick a nice one from the bunch for a few hundred bucks.

 

Edited to add - I'd also like it if modern submissions dropped to the point pricing went to $5 a coin, and turnaround times 3 days.

 

 

If I don't do it then no one will.

 

It ain't gonna happen.

[Dcoin]

 

Then the house of card came crashing down. i.e. the prices fell through the floor.

 

This is my fear with moderns as a whole. Eventually the non-hardcore collector will bail out and leave the modern market in ruins.

 

As a side bar...I do not mean to bash the modern coin collector, I just do not want to see the hobby take a dive because speculators decide to jump ship.

 

I don't believe there is even the remotest chance that "moderns as a whole" can crash and be left in ruins without the entire hobby of US coin collecting also crashing. Indeed, some parts of the modern markets actually have a broader base of support than the classic markets now days. In any case the modern market is far too wide and diverse to do anything in tandem.

 

You're right... crash and burn is to strong a statement... however people will eventually realize that PF69/70 is not as rare and elusive as people think, especially as TPG's try to squeeze the last of this bull market. Once this happens Docheath may get his wish.

[Stanley]

I have been reading some posts and if I am understanding the posts correctly alot of people are against sending Modern coins in to be graded. Seems like some think its a waste of money.

 

Well I dont agree. I am currently collecting the Modern Commemoratives, all graded either by NGC or PCGS in 69 or 70. I like the series. I will buy the coins already graded if I find it at a reasonable price. But I prefer to look through uncertified coins and if I find what I believe is a 70 to send it in myself. (This method takes longer to get the coins needed but is cheaper and more fun) I love sending coins in to be certified. However as far as my modern coins go (with one exception but we wont talk about that) I dont send anything that I think would grade below 69 and so far I have not recieved one back below 69. And most of all the coins that I thought would grade 70, did. I also enjoy playing around with the registry sets. I have a blast moving up the ladder. And I like the plastic. I like being able to hand over a coin to someone who cares nothing about coins and not having to worry about it being mishandled. I also have duplicates of some of my coins because I knew they would all grade 70 so I sent them all in. (and yes, so far all my duplicates that I sent in have came back 70). This may be a waste of time to some but Im having a blast so it works for me. I love my Modern Slabbed Collection.

 

 

AND if I were to sell my entire Modern Collection today I would make a PROFIT.

Anyhow just my thoughts.

Carefully select sources for your purchases. Beware of unscrupulous sellers who are constantly belittling others for there collecting interest. Remember if they are constantly criticizing others they will most likely laugh behind your back as well. Watch out for the elitist sellers who wish to brain wash you into there way of thinking for they are only creating there own niche in the market. Creating a market is good if done correctly, however when it is one sided the collector always looses.

 

Fortunately there are some good sellers out there who will listen to your area of numismatic interest and who will help you in anyway. They are easily recognized for there wiliness to listen and not criticize you for your area of interest. These are the sellers who will be around when you need them.

 

Buy what you like, from who you like and enjoy it. Let the coin bigots utter there cent less drivel.