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BC^3's Blog

26 Sep 2021

Deciding to grade a 2021 Reverse Proof Silver Eagle set

Coins-United States | BC^3

I was trying to decide if I should grade my 2021 Reverse Proof Silver Eagle set which is coming in the mail soon. Since I'm also learning statistics I decided to do some research. I looked up all the NGC and PCGS graded Reverse Proof Silver Eagles to see how often they get a PR70 instead of PR69 or below. I added up all the submissions and divided the number of PR 70 grades (see spreadsheet link below).I also assumed that an ungraded coin was worth about the same as a PR69, so the only grade that could be worth more than just selling the coins is a PR70. I then multiplied the percentage of PR70 with the additional value or a PR70 above a PR69 to get what is called the expected value of a submission. Basically this says that a 90% chance to win $1 is worth $0.90 while a 1% chance to win $100 is worth more ($1).The results are that PCGS has a 54.35% chance of grading PR70 and NGC has a 59.13% chance. Looking at sold recently (pre-sales of PR70 sets) vs the sales of raw sets on Ebay, PCGS PR70 adds about $350 while NGC adds about $300.This means that the expected value for PCGS is $190.36 and NGC is $177.40. Both are above the submission prices. So unless you get a set with obviously defects (you don't need to submit sealed packages), then you should submit your coins.Link to data used in this blog to determine expected value below.\/ \/ \/Data used to do find expected value of grading the 2021 ASE Reverse Proof.

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07 Dec 2020

Waiting for the US Mint Silver Eagle V75 Privy

Coins-United States | BC^3

On November 5th, 2020 early in the morning I, like many others, was on the US Mint web site waiting for the release of two special, limited edition, gold and silver America eagle proof coins. Because they have a mintage of only 1,945 for the gold coin and 75,000 for the silver coin, they sold out in minutes. They are extra special because they honor the 75th anniversary of the ending of World War II with a V75 privy mark.

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