CLOSED Shameless Self Promotion - 1952 Shilling in PCGS MS66

markn · May 14, 2014, 02:08:36 PM

Australia 1952 Shilling in PCGS MS66. Single finest graded as of May 2014. Will be auctioned with a 99c start on eBay starting 22 May and ending Sunday June 1.

http://www.thepurplepenny.com/1281,australia-1952m-shilling-1s-gem-uncirculated-pcgs-ms66.html

emu666 · May 14, 2014, 02:14:41 PM

shame
shame

but nice coin

nealeffendi · May 14, 2014, 03:20:31 PM

Will you take $20 BIN?:ebay:
It is a very nice shilling, someone with deep pockets will be mightily satisfied.

stevo1962 · May 14, 2014, 03:25:45 PM

Will be very interesting to see what premium it fetches

purplepennyhunter · May 14, 2014, 03:26:49 PM

Quote from: 'nealeffendi' pid='49067' dateline='1400046631'Will you take $20 BIN?:ebay:

C'mon that's less than slabbing costs.

keldaw · May 14, 2014, 05:32:52 PM

:drooling: very nice so what if Neal and I both put in $20 and then he can have it for 6 months then 6 with me, I'll be really really good, well I can try :blush2: AJ

ausproofs · May 14, 2014, 07:08:50 PM

Quote from: 'markn' pid='49062' dateline='1400042316'Australia 1952 Shilling in PCGS MS66. Single finest graded as of May 2014. Will be auctioned with a 99c start on eBay starting 22 May and ending Sunday June 1.

http://www.thepurplepenny.com/1281,australia-1952m-shilling-1s-gem-uncirculated-pcgs-ms66.html

Hahaha.. Good work Mark, all the best with the sale... I always wondered who knocked my MS 65 off the equal finest position :angel:.. Now I know where it is :yahoo:

Would be very interesting it see what happens !

nealeffendi · May 14, 2014, 08:46:16 PM

Quote from: 'purplepennyhunter' pid='49069' dateline='1400047009'
Quote from: 'nealeffendi' pid='49067' dateline='1400046631'Will you take $20 BIN?:ebay:

C'mon that's less than slabbing costs.

Last month I got a PCGS MS66 1962 sixpence on ebay by offering $18. Your coin isn't a higher grade and only worth 5 cents more (face value). I offer a whole 2 dollars more and you turn it down?
That's the problem with dealers and slabbing costs, unless you have a really desirable coin (like yours) then the dealer has to factor in selling lots of coins (like my $18 coin) for less than cost.
Would it be fair to say that PPH, WWWW etc lose on the majority of coins that they slab but make it up on the ones like this shilling?

Goldseeker · May 14, 2014, 11:05:05 PM

If I hadn't just purchased/bought another house for cash, I might have been interested. But I am afraid I shall have to pass.

Nice coin though.

Wish you luck in the sale.

emu666 · May 15, 2014, 01:33:15 PM

Quote from: 'nealeffendi' pid='49091' dateline='1400066176'Would it be fair to say that PPH, WWWW etc lose on the majority of coins that they slab but make it up on the ones like this shilling?

No.

markn · May 15, 2014, 01:40:19 PM

Quote from: 'nealeffendi' pid='49091' dateline='1400066176'That's the problem with dealers and slabbing costs, unless you have a really desirable coin (like yours) then the dealer has to factor in selling lots of coins (like my $18 coin) for less than cost.
Would it be fair to say that PPH, WWWW etc lose on the majority of coins that they slab but make it up on the ones like this shilling?

I cannot comment on others but PPH and I are extremely selective with what we purchase and send to PCGS. We do this because we do not buy from the public and only from other dealers and thus must be very careful with what we do buy. We don't send rolls over unchecked and we don't send coins over to just to complete sets. We send them over because we believe there's a profit to be made in that particular coin. Because of this we do not have the volume of material that many others do. It also means that more often that not we can sell a coin for a profit.

Generally regarding margins this MS66 is the exception rather than the rule and the margins on most of our other coins are much smaller. We certainly do not double our money on the vast majority of coins, not even remotely close. And, we do lose money on some coins but that's a natural consequence of doing business.

I've said it before but PPH would be better off stacking shelves in a supermarket rather than spending the 30-40 hours a week she spends working on The Purple Penny. Plus there's the several hours a week I spend working on it too.

For a real world example, take this coin:

http://www.thepurplepenny.com/1000,australia-1962-shilling-1s-gem-uncirculated-pcgs-ms65.html

There's nearly $30 of slabbing costs in that. Plus probably at least 30 minutes to an hour of labour (finding the coin, submitting it, taking a picture of it, listing it on the website). All for a profit of $9 of which the government takes their cut in GST (PCGS fees are GST exempt so we lose out there). Seems like an extreme example but these sorts of coins are the bread and butter of the business. I can assure you we're not getting rich doing this

stevo1962 · May 15, 2014, 01:43:44 PM

[/quote]

Would it be fair to say that PPH, WWWW etc lose on the majority of coins that they slab but make it up on the ones like this shilling?
[/quote]

It would probably be fair to say that with experience in getting coins PCGS slabbed then you should be able to estimate what a coin will grade and so only send over coins those coins that you can make money on thereby not ending up with too many dogs

trout · May 15, 2014, 03:28:03 PM

Quote from: 'stevo1962' pid='49167' dateline='1400127224'

Would it be fair to say that PPH, WWWW etc lose on the majority of coins that they slab but make it up on the ones like this shilling?
[/quote]

It would probably be fair to say that with experience in getting coins PCGS slabbed then you should be able to estimate what a coin will grade and so only send over coins those coins that you can make money on thereby not ending up with too many dogs
[/quote]

It is not that hard to "estimate" what a coin will grade but I doubt that anyone can tell 100% how a coin will grade.
That 1962 Shilling for example could have gone MS66 and become a $200 coin instead of a $50 coin, There IS an element of risk doing this sort of thing unless you have something exceptional to submit.

It is all well and good us collectors "dabbling" in the slabbing game because at the end of the day we don't "Have" to get it right to put bread on the table, If we get it wrong then NO biggie we just pick up our normal pay cheque and carry on.
If a dealer gets it wrong too many times they will go hungry.

I would think that there are FAR more collectors driving about in "Flash" Cars than Dealers do :ok:

robbiegal · May 15, 2014, 05:34:48 PM

Quote from: 'Goldseeker' pid='49100' dateline='1400074505'If I hadn't just purchased/bought another house for cash, I might have been interested. But I am afraid I shall have to pass.

Nice coin though.

Wish you luck in the sale.

wow
good on you buying a house for cash!
my one & only house is still on a cashless system - AKA - credit!! ha ha

nealeffendi · May 15, 2014, 11:31:44 PM

Quote from: 'emu666' pid='49165' dateline='1400126595'
Quote from: 'nealeffendi' pid='49091' dateline='1400066176'Would it be fair to say that PPH, WWWW etc lose on the majority of coins that they slab but make it up on the ones like this shilling?

No.

And yet I see more slabbed pre decimals sell for sub $40 than above $40. For example on Numisbid of 202 QEII sixpences sold in PCGS slabs only 80 coins made $40 or more. Plenty sold below $20 and some were a steal (1962 MS65 for $7.50 or 1958 MS63 for $1.50).
So alot of people are getting it wrong in selecting coins to slab, but like racehorses you only need to pick a few winners to recoup on the wrong punts.