I have been thinking about possibly getting a set of individually slabbed proof 70 2007 presidentials dollars. I would first like to know what people think about this... if its smart to get the set now at around $200+ or if it might drastically fall. Also, i was wondering if anyone knew if it would be better to buy them slabbed by PCGS or NGC (anyone now the POP reports 3's?). I have only seen sets from NGC, and have not found a 4 coin set from PCGS as of yet. I thougt about possibly completeing a set now, instead of looking back 50 years from now and thinking, maybe i should collect these coins, when the prices might be alot higher.... any thoughts appreciated
Don't bother with that stuff. Mint is pumping that stuff out like there is no tomorrow. If it was rare, then maybe you would consider getting it but it's not. What are the mintage numbers on those Pres. dollars? About 300 million of each one. People are hoarding them now because they think they are going to follow the first year of issue quarters..Ain't gonna happen. Qtrs took off because the mintage was low because of an underestimation on the Mint's part for the program. They live and learn. You pay $200 bucks for $4 worth of coins..wow, not a good deal. Would only recommend them if you think they are neat and just want something to spend your money on and collect. Definitely not an investment. Spend $200 bucks on a 1/4oz of Gold instead. Predictions are calling for it to go over $1000 an oz in a few years. Give you $50 bucks of profit if you get spot at $1000 and only pay $200 now for the 1/4oz. Just my opinion anyways
well, thats one of the thoughts i had coininfo .. but these coins are slabbed and graded Proof 70... not alot of them around i dont think. I looked at the PCGS price guide, and it looks to me like PCGS hasnt gradded a single pr70 prez dollar yet. i dont know if NGC has a price guide to view... but i have seen coins graded by NGC as pr70... does this mean NGC is being a bit less strict on these coins? hopefully someone with access to the population reports might be able to post population numbers for these slabbed coins...
PCGS is tougher on grading and also more respected among dealers. Usually a PCGS slabbed coin will fetch more than a NGC slab with the grade. I can tell you from a dealer stand point that having a MS-70 on new stuff is not going to increase in value for at least yours and my lifetimes. Maybe not even our kids to come. If you just have to have one, wait until the Pres dollar fade dies down. Then you can try and go after that stuff at a substantial discount. IMO
I'd be more worried about looking back in 50 years and saying, Darn, I could have bought gold at $800 an ounce. Personally, I'm a gold buyer all day long. Just took out a home equity loan to fill up the war chest.
i know i wont do that. When i look back at things i wish i could have bought, i only look back at things i could have bought and didnt. I bought 1 gold coin last year, the new buffalo, and that is my only gold coin. My yearly coin budget just cant sustain yearly gold purchases, and i am at peace with that. so i concentrate on those items i can afford to buy consistantly. Those items i can afford to buy and then choose not to... years later sonme of those might be items i look back at and say darn. I look back 5 or 10 years ago, gold was at $350 an once. If gold was that no0w, i could afford it, but back that at that time, it was too high. We all have to live within our budgets. You can afford to buy alot of gold, i am jealous, but am quite happy with what i can afford and do buy And i do not dwell on all the coins i cant afford to and dont buy, i dont think anyone should. When i see that PCGS hasnt graded any of these coins proof 70, and NGC has, it lends me to think that they are not all that many of them, hence the @200+ price tag on the sets. good old supply and demand. I can afford to a $200 set, which is a large difference from the $900 or so for gold at the moment. Speedy has always told me, always buy the best you can afford =D Proof 70's look like they might be able to sustain, depending on what the population reports say. Im not trying to convince peeps they need to run out and buy this set, actually, please dont, it might drive the price up IF i buy one Im just trying to figure out if it is just a fad, meanign there are millions o fthem and the price is as high as it is because of all the unwitting buyers.
The reason you don't see any of these coins slabbed by PCGS as PF70 is because PCGS has a poilcy against grading coins as PF or MS70. They do this in order to maintain the false perception that they are tougher on grading than other grading companies. Of course, you'll never get them to admit that. But as to your question - one thing you should consider is the price history of other moderns that have been graded as MS or PF70. While it is not a certainty, it gives you a pretty good idea of what is likely to happen with the Pres. dollars. But I'll save you some time - the majority of them have dropped 50% or more in value within 3 years after they were slabbed.
Actually the President proofs have all been graded by PCGS as PR70DCAM. I have a complete set and I recommend buying as this will be a 12 or 13 year series and 10 years from now these 2007 70s will go for big bucks. :thumb:
thx GD, as always you keep a clear head about things. I think i will keep watching them, and see what happens to the prices. I looked at the completed auctions on ebay, and at least for the last few weeks, realized auction prices are still climbing, from about $170 a few weeks ago, to about $200 now. my gut is screaming to get the set before they climb still higher, and leaves me wishing i made a different choice. i think i will just sit tight, and watch the set for a while longer .. see what it does. as for the PCGS coins, while i haven't seen a whole set of them for sale together, i did just see some on auction individually. The PCGS price guide doesnt even show they graded any as 70. just how often do they update their own guides?
Think of it as if you walked into a Las Vegas casino and stepped up to a roulette table. Each number on the board represents a modern issue coin. You put your $200 on the number 8 ..and spin the wheel. You might win, you might lose...either way you still have 4 shiny metal dollar coins. My only concern with these is the stability of the coin surface. Most I've seen have some type of discoloration. I've heard that even the cleaner ones have discolored at times. Before I shell out $200 for 4 dollar coins. I'd like to have some faith in the fact that they will stay stable in the holder. It would suck to pull these sets out in 5 years to find brown watermarks have formed on them.
