Raw coins vs Graded value.

[ProfessorStacker]

Hey everyone, 

Last night I bought a PF-70 Silver Pygmy Possum Opal series coin on ebay. I went to add it to my APMEX holdings because I was curious how much it was worth and if I was getting a good deal. APMEX did not have a PF-70 coin in their catalog but they had a PF-69 and they also had the raw coin in their catalog. What I found was according to APMEX the raw coin is worth more than the PF-69. This seemed counterintuitive to what I've always believed about graded coins. 

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[goldmember44]

Doesn't make any sense, since you can at any time take the PF69 coin out of the holder, and pretend it was never graded... surely, realistically, the graded coin should be worth more. That is, unless they think that being graded 69 means it has some flaw that a new ungraded coin wouldn't have... but anyone who knows grading well knows that is definitely not the case, a 69 grade is a good grade that doesn't necessarily point to any visible flaws.

[ProfessorStacker]

Also the grading increase for graded coins doesn't seem to be consistent with mintage value. For example the 50 Peso, with an incredibly high mintage that I had graded a while back at MS68 got a higher value increase than the reverse proof libertad with a mintage of 1,000. You would think the higher mintage and lower grade would mean less to APMEX than the lower mintage with higher grade. 

[goldmember44]

In the case above, it is likely that the much older coin appreciated more than the very recent one...

[ProfessorStacker]

6 minutes ago, goldmember44 said:

In the case above, it is likely that the much older coin appreciated more than the very recent one...

I guess but the Peso is a restrike. I'm not sure when it was minted exactly.

[Martlet]

Where does the current value come from?  Two things to consider, the value may be based on old sale, or the market demand is not there. 

 

[sovereignsteve]

As a generalisation, a graded proof coin at 69 is worth approx the same as a raw one.

This prices in the possibility that the raw coin may grade out at 70 which would be worth more.

The problem is that a lot of raw coins are actually not, they are broken out graded 69 or lower

 

[ProfessorStacker]

The current value was decided by APMEX. I just found it curious they placed the value higher for a raw coin than a graded version of it. 

[goldmember44]

1 minute ago, ProfessorStacker said:

The current value was decided by APMEX. I just found it curious they placed the value higher for a raw coin than a graded version of it. 

Looks like an oversight to me.

[Xander]

NGC MS/PF 70. ( A coin with no post production imperfections at 5x magnification. MS/PF 69.( A fully struck coin with nearly imperceptible imperfections.) 

Doesn't seem to much between these two grades to be concerned about, seems like hype to me, considering the 69 grade is valued much less than the 70 I would have no problem purchasing one.

[RacerCool]

3 hours ago, ProfessorStacker said:

I guess but the Peso is a restrike. I'm not sure when it was minted exactly.

My understanding is that most restrikes were minted in the time between 1947 and early 70s.

[Pipers]

21 hours ago, ProfessorStacker said:

Hey everyone, 

. APMEX did not have a PF-70 coin in their catalog but they had a PF-69 and they also had the raw coin in their catalog. What I found was according to APMEX the raw coin is worth more than the PF-69. This seemed counterintuitive to what I've always believed about graded coins. 

 

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You mean loose coin 😉,  Raw is a de-grading term made up by the grading cartels😀.