Coin Vault and prices

Although it seems most posters here dislike all Coin Vaults offers, last
night they sold 20 NGC certified MS63 Peace dollars.
The price was 999.95 or about $50 per coin. For certified MS63 via a Top
cert company that seems in line with the present value of Peace dollars.

When you consider the cost and trouble to get certification from a top
grader they are not always out of line.

Kenmore wrote:
Although it seems most posters here dislike all Coin Vaults offers,
last night they sold 20 NGC certified MS63 Peace dollars.
The price was 999.95 or about $50 per coin. For certified MS63 via a
Top cert company that seems in line with the present value of Peace
dollars.

Where are you buying?

1922 NGC MS63 -- $22.50
http://cgi.ebay.com/ws/eBayISAPI.dll...tem=3976352083

1923 NGC MS63 -- $12.50
http://cgi.ebay.com/ws/eBayISAPI.dll...tem=3978209618

1924 NGC MS63 -- $24.99
http://cgi.ebay.com/ws/eBayISAPI.dll...tem=3977400369

1925 NGC MS63 -- $24.99
http://cgi.ebay.com/ws/eBayISAPI.dll...tem=3977400867

Seems to me that CoinVault is about double what one can otherwise pay --
which is fairly typical for them.

--
Bob

CV is usually two to three times the "street" cost on any coin/set they
sell, no matter what they say. They are nothing more than
entertainment, at least for anyone that is knowledgable about our hobby.

Kenmore wrote:
Although it seems most posters here dislike all Coin Vaults offers, last
night they sold 20 NGC certified MS63 Peace dollars.
The price was 999.95 or about $50 per coin. For certified MS63 via a Top
cert company that seems in line with the present value of Peace dollars.

When you consider the cost and trouble to get certification from a top
grader they are not always out of line.

Bid for the most common date Peace Dollars (1922P, 23P, 24P, 25P) is
$26, Ask $28. That's probably all that were included in the lot, and
they probably bought them by the roll for between $20 and $22 per coin.
Add the bulk certification fee of a few bucks per coin and they are
still making $20+ per coin, or $400+ per lot.

IMO, most common Peace that end up in 63 slabs, except in the above
case, were submitted because someone thought they would get a 64. Most
honest coin dealers will sell you common certified Peace for far less
than $50 per coin. More like in the $30 - $35 range.

Generally, everything advertised on television is marked up this much or
more.
Studio rental with talent, staff, camera people, sound, control room, is
many thousands of
dollars an hour. They pay every satellite and cable system "carriage" fees
totalling millions
of dollars a year. Plus free extended terms, and "operators standing by."

Shop at home is owned by the E.W Scripps Co, and in 2004 Shop at Home
sold $293 million of stuff and lost $22 million.

As long as coin collectors have a "poverty row" mentality that coins should
sell for
5% under Greysheet bid or the seller is a crook, coins will never receive
the promotion that
they deserve.

How many of you ordered your 2005 silver proof set with about $9 worth of
silver in it
for $37.95

$50 for an 80 year old NGC or PCGS slabbed silver dollar in MS63. What a
bargain.

--
RARE COIN AUCTIONS NO MINIMUMS www.frankcoins.com
http://search.ebay.com/_W0QQsassZfrankcoins Texas Auction License 11259
Board member of Texas Coin Dealers Association, Fort Worth Coin Club.
Member: Texas Numismatic Assoc, American Numismatic Assoc
"Kenmore" wrote in message
news:SPlqe.147$yw4.26@trnddc09...
Although it seems most posters here dislike all Coin Vaults offers, last
night they sold 20 NGC certified MS63 Peace dollars.
The price was 999.95 or about $50 per coin. For certified MS63 via a Top
cert company that seems in line with the present value of Peace dollars.

When you consider the cost and trouble to get certification from a top
grader they are not always out of line.

Frank Provasek wrote:
As long as coin collectors have a "poverty row" mentality that coins should
sell for
5% under Greysheet bid or the seller is a crook, coins will never receive
the promotion that
they deserve.

Why is it "poverty row mentality" to try to buy a coin at a price that
you may actually be able to sell the coin some day, and maybe over
time, even come out whole or make a couple of bucks? People who pay
way over Greysheet are most likely stuck with a bad investment forever.
On a Lincoln cent worth 10 cents or even a $10 coin that's not a big
deal, but pay way over bid on a $1,000 coin and you will probably be
buried in it forever.


How many of you ordered your 2005 silver proof set with about $9 worth of
silver in it
for $37.95

$50 for an 80 year old NGC or PCGS slabbed silver dollar in MS63. What a
bargain.

Because there may be a chance that the 2005 set will increase in value
as many other state quarter products have done recently. OTOH, MS63
Peace Dollars are as common as sand. Why overpay by double what it's
worth?

Also using your logic, you have just bought a slabbed 63 silver dollar
worth $5 or $6 in melt silver for $50. How good of a deal is that?

On 10 Jun 2005 16:38:37 -0700, "reality"
wrote:



Frank Provasek wrote:
As long as coin collectors have a "poverty row" mentality that coins should
sell for
5% under Greysheet bid or the seller is a crook, coins will never receive
the promotion that
they deserve.

Why is it "poverty row mentality" to try to buy a coin at a price that
you may actually be able to sell the coin some day, and maybe over
time, even come out whole or make a couple of bucks? People who pay
way over Greysheet are most likely stuck with a bad investment forever.
On a Lincoln cent worth 10 cents or even a $10 coin that's not a big
deal, but pay way over bid on a $1,000 coin and you will probably be
buried in it forever...

I was actually surprised to read what Frank said, since he is a coin
dealer. I doubt seriously that he pays $50 for a 1922 MS63 Peace. A
dealer wouldn't be in business very long that way.

Most people who buy a lot of coins want to buy nice coins at
near-wholesale price. Buying a coin at too high of a price means that
one will most likely never be able to realize the same price. It would
be like buying a diamond at a jewelry shop. The markup is so high that
no further profit will be realized from the stone in the lifetime of
the person.

The wise man looks for a good deal.

Anita

Frank Provasek wrote:
Generally, everything advertised on television is marked up this much or
more.
Studio rental with talent, staff, camera people, sound, control room, is
many thousands of
dollars an hour. They pay every satellite and cable system "carriage" fees
totalling millions
of dollars a year. Plus free extended terms, and "operators standing by."

Shop at home is owned by the E.W Scripps Co, and in 2004 Shop at Home
sold $293 million of stuff and lost $22 million.

As long as coin collectors have a "poverty row" mentality that coins should
sell for
5% under Greysheet bid or the seller is a crook, coins will never receive
the promotion that
they deserve.

How many of you ordered your 2005 silver proof set with about $9 worth of
silver in it
for $37.95

$50 for an 80 year old NGC or PCGS slabbed silver dollar in MS63. What a
bargain.

Frank:

Although I am neither pro or con the CV your last comment is what I look
for as collector. It seems that there are those who cannot see the
forest for the trees. Trying to find the lowest price for a coin seems
to me to be a poor reason to collect coins.

Kenmore wrote:
Frank Provasek wrote:
...
$50 for an 80 year old NGC or PCGS slabbed silver dollar in MS63.
What a bargain.

Frank:

Although I am neither pro or con the CV your last comment is what I look
for as collector. It seems that there are those who cannot see the
forest for the trees. Trying to find the lowest price for a coin seems
to me to be a poor reason to collect coins.

There are (at least) two distinct type of collectors - those who like
coins, and those who see it as a way to make money. For the latter,
trying to find the lowest price for a coin makes perfect sense.

Jeff

"Anita" wrote in message
...
On 10 Jun 2005 16:38:37 -0700, "reality"
wrote:

Most people who buy a lot of coins want to buy nice coins at
near-wholesale price. Buying a coin at too high of a price means that
one will most likely never be able to realize the same price.

I'm sure glad I don't have to make my living selling coins. If you try to
sell anywhere above wholesale (doesn't nearly every buyer think he should be
able to buy at that level?), you're ripping buyers off. And if you try to
buy at a level which will allow you to sell at "wholesale" to all those
entitled collectors and still make a living, you're ripping off sellers.