Coin Cabinet today

[Cornishfarmer]

3 hours ago, Xander said:

£3,500 for ten Sovs, you would have been cheaper buying them from Chards £344 each.

Seller would have be better selling here also

[BrumChris]

Price difference for the silver Una is interesting. £500 for grade 69 and over £1000 for 70.

[Paul]

3 minutes ago, BrumChris said:

Price difference for the silver Una is interesting. £500 for grade 69 and over £1000 for 70.

Sorry for being as thick as a castle wall, but put a MS69 and MS70 in my hand and im buggered if i can see the slightest difference in them.

Paying double the price for something for the sake of a one digit grade difference? crazy

Some of the prices MS70 coins have gone for in these coin cabinet auctions have been crackers past few sales

Was it not someone who said, dont buy the grade, buy the coin ?

[sovereignsteve]

3 hours ago, jultorsk said:

The 1870-SY was really quite beautiful indeed (maybe 60-61?)

I'd say PCGS 61 - 62 and NGC 58 - 60

[KDave]

1 hour ago, Paul said:

Was it not someone who said, dont buy the grade, buy the coin ?

Silver forum heresy.

Certain psycological traits means some people must have only the best grade, it becomes about more than the coin. I respect those people, it clearly takes a big wallet to fund a habit like that and creates wealth for other people who win grading lottery. 

[Melon]

The prices on these new Royal Mint releases seem totally bonkers to me. Manufactured rarity. I can't help thinking that the bottom of that market will fall out big time. But hey, I think that each time, and people keep making money on them! 

[richatthecroft]

2 hours ago, Paul said:

Sorry for being as thick as a castle wall, but put a MS69 and MS70 in my hand and im buggered if i can see the slightest difference in them.

I would not recommend trusting Implicitly the designated grade either PCGS or NGC have slabbed. 

Paul, I have seen some very poor examples of YH Victoria Sovereigns assessed as MS grade and conversely AU Grades which in comparison beat them hands down. 
In terms of modern coins, I have a 2017 1/2 Onza Gold Libertad  graded 69 I’m at an absolute loss as to why it ended up with a 69 grade.
Conversely, other coins that I have previously owned that have been graded and achieved a 70 grade which I don’t believe to be accurate. 
 

3 hours ago, Paul said:

Paying double the price for something for the sake of a one digit grade difference? crazy

Some of the prices MS70 coins have gone for in these coin cabinet auctions have been crackers past few sales

Was it not someone who said, dont buy the grade, buy the coin ?

I agree with you Paul, paying double the price for a 70 vs 69 is crazy- crazier still, some coins that achieve 69 can sell for less than their raw counterpart! It’s illogical.

2 hours ago, KDave said:

Silver forum heresy.

Certain psycological traits means some people must have only the best grade, it becomes about more than the coin. I respect those people, it clearly takes a big wallet to fund a habit like that and creates wealth for other people who win grading lottery. 

Dave, I’m not sure this is true in the majority of cases. I think collectors simply don’t want to invest there hard earned cash into a dog-of-a-coin and NGC & PCGS are supposed to be there to step in to provide that confidence- the majority of coins these days are after all, bought unseen (excepting photographs of them) and by post. 

3 hours ago, Paul said:

Was it not someone who said, dont buy the grade, buy the coin ?

This point is key here. 
It is very important to buy the coin and not the grade.  
I bought the coin below from photographs the seller posted- it was graded a 70 and I wanted a nice example and the grade gave me confidence. 
As you can see however (see first Photograph), it did have a fault of which I was in blissful ignorance of- until a friend pointed it out, after it was up for sale for a week!  I think I did the right thing pointing the fault out, and by pricing it accordingly. 
But how many times are modern top grade or well graded MS state older coins bought and sold that if appraised carefully by their proud new owner/ are over/ under graded? 

Buyer beware- buy the coin, not the grade. 
 

 

 

[CoinStruck]

Well I must admit I did make a few bids and bought two coins at the auction yesterday.

I had bids in for the 1995 (NGC PF70UCAM) and 1999 (PCGS PF70DCAM) proof QEII sovereigns. They sold for £800 and £700 respectively which was a lot higher than my budget. So I will have to wait another day to pick up those two years.

I did get the 2006 and 2010 sovereigns, both PCGS70DCAM. These fill two gaps in my QEII proof sovereign date run.  I am trying for a 70 date run of the QEII proofs and have bought lots of raw coins & had them graded. Some have come back as 70s which is great and a 69 still fills in a gap in the run however over time, when the price is ok, I want to "swap-out" for a 70. 

[KDave]

7 hours ago, richatthecroft said:

Dave, I’m not sure this is true in the majority of cases. I think collectors simply don’t want to invest there hard earned cash into a dog-of-a-coin and NGC & PCGS are supposed to be there to step in to provide that confidence- the majority of coins these days are after all, bought unseen (excepting photographs of them) and by post. 

I can't see a difference between a coin graded 69 and a 70 grading equivalent beyond artificial scarcity invented by NGC/PCGS. It is a good business model for them as it encourages lottery like entry submissions and has built up a market around the number 70. That was my point. I agree with what you are saying about collectors using graded coins to make sure they get a real one or at least a nice one, the logic of paying a huge premium to achieve that when other far cheaper means of validation are available is another subject in itself! Take what I say with a pinch of salt though I have never liked slabbed coins.