MS70 2oz Dragon Preorder Devistation

[ShaolinStacker]

Thought I'd share a disappointing story. I'm Trying to collect an MS70 set of all the 2oz Silver and 1/4 oz Gold Queens beast coins. On March 9th Bullion Exchanges put 7 units of 2017 2oz SILVER MS70 Dragons up for pre-sale on Ebay for $298 US. As I've been collecting the series I know that the prior 2oz silvers were selling between $6-800 all day long I purchased 2 right away. I watched quickly as the other 5 sold. I got the first 2 on pre-order. I figured since they put so few up they knew how scarce they have been. So shipping date rolls around, and I get this email cancelling both of my orders. Utter devastation after weeks of waiting. The story gets even worse when I call B.E customer service to ask why they wouldn't fulfill the order. The service rep stated "We didn't receive any MS70 coins from the coins we sent in". I asked if they had anymore that they were grading and if they could fulfill the order at later date. To which they replied no. At this point I asked to speak with a manager. After 15 min of him saying "They sent 8 monster boxes and got no MS70 coins". His story changed to "Oh we only got a few and we aren't going to be selling them". So basically they floated pre-order money to grade their coins with NGC. I thought the whole thing was really shady. They offered me a $25 gift card which I used to get a 1/10th oz gold eagle under spot. So that's nice and all, but compared to the $1000+ dollars I could have made on the MS70 Dragons still disappointing. Also sent in 2 tubes of Dragons myself to NGC that I got on pre-order first day of issue. Out of 20 coins got 3 MS-67, 7-MS68, and 10 MS69. Not very good results. Really the only time I've lost money grading with NGC. Especially since I got special labels, and they require a double thick holder.

On a positive note I did actually receive the MS70 1/4 oz gold Dragon I preordered from Modern Coin Mart at a great price.

[sovereignsteve]

Just shows you what a joke the whole racket is.

[Pampfan]

I remember the day they went up on Ebay - I was going to pull the trigger and order one myself - but then I said even at $300 bucks - a bargain - it would end up costing me over a $1,000 more to get the first two - MS70.  That is why I am sticking to the 1/4 ounce size.  I got my dragon from MCM as well - Just looking at your picture - it looks like the label got mangled up - I would send it back.  

These two ounce coins are really hard to get in MS70 - NGc says that 31 have graded 70 out 1079 sent in with 1043 MS-69's.  If they sent in 8 monster boxes and each one contains 200 coins then that means they graded 1600. (Something doesn't add up here????)

[mongo28]

Piss poor quality from the Royal Mint once again... If it's not gold or a proof they handle it like a baby rattle... Disappointing really, could you imagine if they had the quality standards of the Perth Mint and the low mintage of the Bank of Mexico? Dreaming I know... But all they have to do is raise the rim of the coin and that would protect the queens face...

[ShaolinStacker]

 

1 hour ago, Pampfan said:

I remember the day they went up on Ebay - I was going to pull the trigger and order one myself - but then I said even at $300 bucks - a bargain - it would end up costing me over a $1,000 more to get the first two - MS70.  That is why I am sticking to the 1/4 ounce size.  I got my dragon from MCM as well - Just looking at your picture - it looks like the label got mangled up - I would send it back.  

These two ounce coins are really hard to get in MS70 - NGc says that 31 have graded 70 out 1079 sent in with 1043 MS-69's.  If they sent in 8 monster boxes and each one contains 200 coins then that means they graded 1600. (Something doesn't add up here????)

Nah label is perfect. I blur it for security

[forgottenmemorie]

I imagine getting a MS70 Full set will be quite rare (and expensive)..

[Pampfan]

7 hours ago, forgottenmemorie said:

I imagine getting a MS70 Full set will be quite rare (and expensive)..

You are correct.  Since I like the coins I'm buying them in ms69 grade.  One of each and that's it.