Big V Talks ON US Coin Collecting > Comments on One More Thing About The 09-S VDB

Go to Big V Talks ON US Coin CollectingAdd a commentGo to One More Thing About The 09-S VDB

posted by Vermont01 on January 29, 2015 at 3:55 PM | link to this | reply

A whole lot goes into coutnerfeiting and fighting it.

posted by FormerStudentIntern on January 28, 2015 at 8:16 AM | link to this | reply

Re:

NGC and PCGS are 'professional' grading services and are considered the best two of about six grading services. Which service you prefer is up to the individual.

Right now those dates are worth about $2000 each retail and could probably be bought at a big coin show for $1850 or so. With that said, beware of buying from those kind of shows because as you see, they are already $300 to $400 over priced but there is more nuance to grading than I have not yet addressed. While a coin may be a technical MS 65, there are low end 65's, mid grade 65's and high end 65's.

Allow me to further explain. During the course of a show, you will see collectors and other dealers pick up a number of coins and they will inspect them. You will hear the comments,  "Wow, that coin was lucky to get a 65!"  OR  "Man, that coin just missed a 66 grade!" Part of the game is to buy the coins that are on the plus side of the grade and shuffle to lesser coins off to a show in Buffalo (or other city.) Many of these lesser coins get sold on television shows like the one you saw.

One more example that you can use. Let's say that a coin in MS 65 normally would price out at $100 and you have three of them. One is a true MS 65, one barely made the technical grade of MS 65 and one was a superior coin for the MS 65 grade. You will see all three sell at different prices despite being the same grade. The lesser coin may go out the door at $94, the properly graded coin will go for the $100, and the superior coin may sell out the door at $125 because the next grade up will sell for $175.

This is why I tell new or less experienced collectors to do at least one of two things.  1) Find a dealer who will spend time with them in their shop explaining these things or 2) leave your wallet at home and spend a lot of time looking at physical coins and note the surfaces of the coin vs the grade assigned. It won't take long and you will begin to see greater and lesser coins at the same grade. Study the coin in a grade lower and if possible, a grade higher so you can see what those coins look like in a MS 64 holder. An experienced eye is your best tool.

When we had out shop, many collectors knew when we were headed to big shows and would give us their money and ask us to buy the best coin available for the kind of money they wanted to spend. They trusted our eye and our ability to get them the best possible deal. When we spent a lot of money at a show, the dealers there would vie for our business so we would get better deals and because we were using the customers money, we would sell for far less of a 'profit.' Let's say we would normal buy a coin for $250 with our money and sell it for $280, we would buy the same coin for you with your money and sell it for $260 or so. As I said, it's all part of the game.

I hope this helps you.

V

posted by BigV on January 28, 2015 at 6:35 AM | link to this | reply

For me, the real shame about what the counterfeiters are doing to these coins is ruining their initial value by trying to make them into more valuable coins. I wonder what the values would be for these pennies had they simply left them alone. Boy, you really need a trained eye to see some of these things . . .  

By the way, ironically enough, I was 'channel surfing' last night, and actually came upon a home shopping network selling coins! It was called ACTV Fine Coins with Barry Chappell, and at that moment, he was actually hawking three St. Gaudens $20 gold pieces, one from 1924, one from 1925 and one from 1927. All three were graded MS 65 ( followed by NGC/PCGS, which I have no idea what that means ). He was selling them for $2,395.00 apiece, or $6,995.00 for the set. How rare are these coins, and is that a good asking price?  

posted by JimmyA on January 28, 2015 at 6:08 AM | link to this | reply

Referrals - About Us - Press - Terms of Use - Privacy Policy - Conduct Policy
Copyright © 2017 Shaycom Corporation. All rights reserved.