1 Oz. Silver Piedfort Coin - 25th Annivers. Sml

The thing I think of also is.... man, what if every single person that bought this coin at 99 gets wind that they bought at 99 and now is going as low as mid 50's on ebay?

I mean this is a nice coin, I like it, I have been contemplating the thought of getting one,, and to me, 69 isn't bad compared to 99 and then seeing now mid 50s on ebay.. is like,, Ok I can wait for that or less....

@Silveroid

Yea I agree with what you are saying. I just am thinking, we all have X amount of dollars we like to devote to our hobby.

In the case of this coin, at 100 dollars, you can now afford to buy two coins for what would take up one coin... just by being patient and waiting.

What I been doing for a while now is a wish list of coins I want going forward, and this Piedfort has been on the wish list, but I immediately put it on hold when I saw the prices tanking, thinking exactly this would happen...

its just like wow... tho, the prices are really coming down.

Just like I want the 2014 ANA privy marked silver leaf coin but the price on those I am sure are going to drop soon also and so on and so on...

so like you, all across the board, I am being super, extra selective on coins. In fact I am no longer interested for the time being, in coins that are say 700+...

Wow I have been on for a day, what a great discussion! Speaking as a hobby seller, I can wait for my price because, it's a coin I like, I'm just trying to see if it will sell higher, so I can buy again at cheaper cost from someone doing a blow out. I think we as forum members forget not all collectors look for bargain prices. Some people may have the money, that they don't really care what they pay, if there like something. Where others are concerned with getting the best bang for the buck.

An example people that chase registry sets. I'd image it take money to always be in top spot. My buddy in Az sends in 4-5 of the same coin hoping to get Pr70, the pr69 are auctioned off. I've picked up great deals from him, his scanner is lousy on slabbed coins, so bad pics, low auction price. I take good pics do a write up and a 20%-30% profit .

It's these sales of RCM coins that happen regularly, that has me only wanting the $ 4 $ coins or a hot one mint direct.
It's just occurred to me, maybe this is why the mint is offering personal reps! It's an effort to retain customers and generate more sales. The thinking could go, give a rep - customer thinks they're prestigious - having a rep others don't. Therefore said customer will buy more coins, so they can keep prestigious Rep.
This may be the new marketing strategy!! I'm sure I don't buy enough to warrent getting a Rep. I was quite happy doing web orders. I had less mix ups!! Like SilverDon I shop sales. Regarding groceries as example: the 1st of each month IGA gives 15% so I comb the flyer for even more savings, and I stock pile non perishables we use. I get my monthly grocery supply with the 15% off. Rarely does my son need to get groceries before the next 15% off. We've saved a bunch of money doing it this way. I'm the same with my coins the past 6 months or so. I've a wish list like Yup, and I snipe like Silverdon. Lately I've just started to trade with forum members as another way to save. Great conversation!!

@silveroid

Yes I agree with you on that too... I am sure what I buy now, will drop 6 months or more down the road. I don't think there is any escaping on that, and like you, I am being soooo selective on what I get.

@pocket change 50

Oh yea, big time,, and without a doubt, dropping prices in silver and gold are impacting numis coins. I mean I am watching on my list a wide range of coins, from bullion coins that would be semi numis, to numis modern coins, off all types.

I am seeing as an example, mint coins, doesn't matter if its Perth Mint, US Mint, RCM, New Zealand, etc... even private mint coins, ALL of them are dropping in price.

I haven't put my finger on it, but it really seems like the government coins are really coming hard,, followed by the private mint coins.

There are exceptions to this as well and you know, we dont have a huge database where we could tabulate this all in real time and chart it out... IF we could do that, we could at least get an idea of trends and nontrends in the market place and everyone would benefit because we would know whats a fair price to pay!

but no look,,, I am seeing right now easily RCM NCLT coins getting cut by 50-40% easy... and that started with the falling prices in silver and gold.. I have seen it in my purchases from last year in various coins from various mints. Even the semi bullion coins like my favorite somalian elephants are getting cut,, last year I won at auction in USD a gilded somalia elephant for fifity something dollars... this year, I came in, same type coin just year changed 2015, I payed 41ish...

and I could go on and on. remember that Dr Who gold coin? I saw that in August going for 2200 far from its mint offering.

Another interesting trend I always spot is- if its going on ebay for a while and the price rises from the mint's original price, the price generally continues to rise until it tops out.. Not always but the majority of the time it does.

Other coins fizzle out fast even on the secondary market but again, it depends on what type of coin. For the most part tho, if it jumps higher on ebay, it continues to rise.

... and even tho silver and gold have dropped, some coins that were in demand, due to popularity or low mintage or what have you, while they have seen a small drop in their price, many of these are still no where near their original mint issue price.

So again, yes there is no doubt in my mind that numis modern coins have been negatively impacted by the drop in silver and gold.

I do cringe at the thought that coins on my wish list, folks paid top dollar for.. and here I am looking at getting what I want for a half, or a third off as an example, just UGH... coin collecting should be fun.. and I mean it still is.... but ugh seeing the price drop isn't fun.

.... and I mean heck I keep buying a few coins, like the 5 oz quarters from the US Mint, I just got my first ever coin today and I am happy,, even while knowing that it will probably drop on the secondary market in the future lol

To conclude and be positive... this is probably a GREAT time to be a new collector and enter the market. PM prices are dropping and thats filtering down and I think a lot of folks are probably slowing down on what they buy... this makes the hobby more affordable and hopefully keeps bringing in new people.

@pocket change 50

Hey I am glad that I can help share what I know, and that it can be understood, I could really go all out with all sorts of technical details, but I want to keep it simple. At least one thing is clear- you are grasping the most important element of markets,,, and that is the price action. Simple but important above all, price action never lies, is never wrong and will never send us down the wrong path.

My whole aim and goal was NOT to make my fellow members here think I was railing against the metals, tho sometimes I get this impression some feel I am against silver and gold..but the message I have wanted to present is one of warning that right now, in this cycle, making large continued purchases of gold and silver are not wise at this point in time.


yea that first steamboat willie 1/4 oz gold coin... that one has come down,,, for the most part its seen its value hold above its issue price but not by much as it was... in some cases they went for 850... where I had seen them going for much higher. Take look at the Donald Duck 2th anniversary coin... that one is already going for about roughly 15-20% less than the issue price..

So, I mean, you can certainly see how gold and silver dropping is hurting even the numis coins that had heavy demand.

I agree with you and think the same, how long can they continue with these high prices,, when will the mints change course?

Of not that I am not sure. Like you, I am curtailing purchases tho I have a nice long wish list lol and I stalk many coins and I will be able to get some of those coins that I missed out because they sold out and remained high in price, now they have come in, even if slightly, which to me, getting a deal is great.

Lol Yup , sometimes you just need to grab it , a few bucks this way or that way isn't going to matter if you really want it. Dont you work on wall street? I watched the Wolf of Wall street the movie with Leonardo DiCaprio...they make millions...not saying you do or anything but ummmm get that bloody coin already