Presidential 1$ Proof Set Arrived Today

[jesbroken]

I got my Prez Proof Purty today and I am amazed. It is so beautiful. After all the bad press from the circulated issues these are near perfect. I hope the law passes that bans the use of rim printing on all later issues, might make this one valuable. Go figure. Here are a couple of photos but I am the absolute worst at photographing encapsulated coins. Here you are anyway.

 

 

[123cents]

I received my 2 sets Saturday. They are great looking coins. Better than the uncirculated issues.

[Keleum]

Have you guys heard if these are getting lower grades (very few 70s), than any other proof set?

[SRWNC-migration]

So far, there have been very few full PF70 sets to hit ebay by the big modern coin sellers, or their websites. I've counted 7 full NGC PF70UC sets offered to date either on ebay or the big modern dealer websites (actually 10 but 3 of those were the same set bought and resold quickly on ebay). In comparison, I've counted over 1,000 NGC PF69UC Sets offered.

 

The first set offered on ebay went for $950 about 1 week and a half ago, and it's been going steadily up from there. In the past 4 days, 5 sets have sold on ebay ranging from $1900 all the way up to $3949. Really, only 2 dealers actually had them from what I can tell, the others bought from these dealers and resold on ebay.

 

We ordered 100 sets from the mint, and prescreened them before sending to NGC. Out of 100 sets, we only sent in around 50 (the rest had significant nicks or haze to at least 2 of the coins in the set). To be honest, from what we saw during the prescreening process, we don't really expect to get many if any PF70's back and will probably wait until our full proof sets come in and hope the quality improves before sending any more in for certification. We'll keep the other 50 President Proof Sets we have left for our original packaging customers.

 

Sean

SRWNC

[keeron-migration]

I agree with the above comment... the PF70s are very hard to come by. I've been tracking the ebay auctions too... just starting to see some individual coins in PF70 grade, but it's still very high (around $500 per coin).

 

I was lucky enough to get one of the first PF70 listed anywhere on the web (ebay or other modern coin sites)...and got it very very cheap.

 

If anyone needs the website's name, PM me... the prices there are still cheaper than most coin sites (include the infamous TV show sites) and eBay.

 

I hope this stays like this PF70s of some of the recent releases were so abundant that their value was decreasing. Haven't seen a coin in long time where it's so hard to see a perfect 70 (specially with the missing/double edge errors)

[jesbroken]

Welcome to the forum SRWNC, rather interesting information you have gathered. Thank you for that.

 

Edited to add:

When you send these in do you crack them out or send as is. The reason I ask is that there are quite a few marks on the case, but not on the coin. Thanks

[SRWNC-migration]

Hi Jim,

 

We took the sets out of the outer hard plastic cases when we sorted them for submission, but we left them in the inner plastic. Most of the condition issues we saw were very obviously on the coins themselves and very consistent from set to set (slight hazing around the rims, multiple (numerous) breaks in the cameo frost on the devices, and many rim nicks). Definitely not up to the US Mint standards we've seen in any of the proof Sacagaweas to date.

 

Sean

SRWNC

[astrostu]

I ordered 3 sets and there was some discoloration on at least one coin in every set. I was not very happy. I would call the discoloration "milk spotting" if they were on silver -- small parts of the coin were slightly darker that look like a planchet flaw.

[Lem]

Here is a first, the shopping networks were actually selling PF70's cheaper than e-bay. They used the $3949 auction as a selling point. Crazy!! Oh, by the way, I'm still waiting for mine.

[Dwaine]

NGC doesn't have any stats up for these coins yet either.

[keeron-migration]

Here is a first, the shopping networks were actually selling PF70's cheaper than e-bay. They used the $3949 auction as a selling point. Crazy!! Oh, by the way, I'm still waiting for mine.

 

Yeah.. I saw this yesterday too. It was funny, they were saying that NGC hasn't graded any PF70s yet (yet I could bid on ebay - instock aunctions, and even managed to buy one from a reputed online NGC dealer).. Also, the first few aunctions on ebay didn't sell for 3949, rather they were close to $1000.

 

I asked the question on the NGC forum (didn't see it get posted - probably still needing some review) about the pop reports for Presidential proofs. I hope they update the list soon. I can't find a corresponding list from PCGs either.

 

However, on the "other" shopping networks, they were selling the ICG proofs for less than $300 (same time as the first network selling it for $1300). Not sure how ICG coins get graded (compared to NGC/PCGS), but that was some crazy pricing. I even double checked their website and it was correct.

[bsshog40]

Here's an NGC PF70 set. buy it now $3599] That's crazy!!!

[RUSS BEGA]

Here's an NGC PF70 set. buy it now $3599] That's crazy!!!

 

why people pay that much for modern mint junk is beyond me just give me the raw set and i'm happy

[Lem]

Maybe it is all in the name of "I got the first proof 70 set", I really don't know. To pay that kind of money without even knowing the population report just amazes me too, but than again the reports are not always correct. Here's another thought, this person could just be rich and money isn't an object!

[bsshog40]

I agree with ya Russ. I have one raw set and I'm fine with that! Of course, I wouldn't mind picking up a PF69 set. Those are a lot cheaper!

[cpm9ball]

I received two sets about a week ago. James Madison has some slight marks that may keep both of these specimens from getting a 69 or 70. However, there is one thing interesting about the most prominent of the flaws. It is a horizontal mark on his nose that appears to be identical on both of the Madison coins. It looks like the die may have been scratched (?) before striking the coins. I'm going to try to photograph both under the stereomicroscope but I'm not sure if the mark will show in the pictures because you have to tilt the coin slightly under illumination to see it.

 

I also received 5 more sets on Saturday, but I haven't had the opportunity to examine them.

 

Chris

[BillJones]

It is WAY too early to start talking about these coins as “condition rarities” in PR-70. What some of you fail to grasp is that the grading services control the number of modern coins that get into PR-70 holders. PCGS has become a master at this.

 

We have seen the pattern more than once. At first only a few coins are graded PR-70. The few that are available get bid up to very high levels by those who want to preserve their spot or obtain a high spot in the “running of the (registry) bulls.” Then after a while, miraculously, a larger number of PR-70 coins appear, and those who have run with the bulls get gored financially.

 

Don’t fall for the foolishness. Wait for the market to settle and then get in. Or better still save yourself the pain and aggravation and buy a PR-69 ultra cam for a lot less money.

[Lem]

Well said Bill.

[Keleum]

Question for you Bill,

 

Do the TPGs, generally grade the sets lower in the first batches? I have a few sets I'd like to send in, but there more for me than for sale, so I can wait. Would you recommend waiting a few months before sending mine in?

[BillJones]

Question for you Bill,

 

Do the TPGs, generally grade the sets lower in the first batches? I have a few sets I'd like to send in, but there more for me than for sale, so I can wait. Would you recommend waiting a few months before sending mine in?

 

I'm sorry, but I can't answer that one. I don't send modern coins in for grading, and I generally don't deal in them. The only ones I have are the PR-69 Ultra Cams that are in my NGC registry type set. I've got a couple for sale in inventory because sometimes I've had to buy such coins as part of the deal to get the coin I really wanted.

 

I'm going by the comments that i've read across the street. I'd see people over there complain that they had paid premium prices for PR-70 D-Cam coins, only find that "more of them are being graded and coming on the market. I guess these coins are not rare as we thought they were." Ya think! When that happers prices will almost always drop, and unlike the classic coin market, they seldom recover.

[Keleum]

I would expect that just to be market jitters, not that the TPGs actually do anything different. But I was just wondering, if it was a known practice.

 

what your describing seems like the marketing forces that created this "First Strike" concept.

[HALA820]

I agree with ya Russ. I have one raw set and I'm fine with that! Of course, I wouldn't mind picking up a PF69 set. Those are a lot cheaper!

 

 

I will have plenty I think.

I sent in 20 sets to NGC.

 

Joe

[bsshog40]

I agree with ya Russ. I have one raw set and I'm fine with that! Of course, I wouldn't mind picking up a PF69 set. Those are a lot cheaper!

 

 

I will have plenty I think.

I sent in 20 sets to NGC.

 

Joe

 

Let me know what you'll be selling them for. I'm watching sets on ebay for $79, just can't afford them right now. I would like to get just one set and will settle for 69's.

[Joe O-migration]

I purchased 100 sets from the mint. I have yet to find a coin without a minimum of 3-4 discernible nicks in the faces of the Presidents or Liberty. Out of the thirty or so sets I have looked at (my eyes are killing me!), I think I have two coins that might make MS 69. Not looking like a very high quality release so far. However, I did come across a consistent defect or error on the John Adams coins. In one stack of the sets I pulled from the box, there is a small polished ding located roughly where the "adam's apple" would be on Liberty. It is a very consistent error and it is only on the Adams coin. I have 7 of these coins so far. Is anyone else seeing this? I will post a pic if anyone is interested...

[just-john]

2007 the year of the presidentail SPOOF SET-DR Seuss was right you can't teach a Sneetch

[ant]

[keeron-migration]

Yay! Got my PF69 and more importantly PF70s today (from an online NGC dealer... got them very early when people were just realizing this might be the coin of the year so not that costly)

 

Not posting images as its hard to see the differences (although I need to add the images to my new registry set for PF coins).

 

I see small differences in the PF69 and 70 coin.. the 70 coin is really clean and beautiful.

 

Prices are still not settled...online stores / dealers are in the 1200-1600 range, while ebay is from 800-3000