| Author |
 Replies: 102 / Views: 17,323 |
|
|
|
|
Pillar of the Community
Canada
2845 Posts |
Quote:
...a bit of gold coins I may take with me when its time to go....
Yeah I was mulling the same thought and how everything now costs money, not a bad idea, might be an entrance fee at the Pearly Gate..  Edited by wildflowerAB
01/27/2016 2:09 pm
|
|
Pillar of the Community
Canada
1463 Posts |
Even with 1948's in there? you'd think they could turn those over and pay for everything else 2 or 3 times over. Unreal.
|
|
Pillar of the Community
Canada
2845 Posts |
Quote:
Trends , guide books , Charltons and related coin and paper money books and magazines do not buy coins or sell them.
That is very true. Every other pricing guide that I can think of collects recent sales data from various reliable sources, sometimes the final value is calculated by weighted averages to balance anomalies. By virtue of the name "Trends" pricing, that indicates it does the same. But that is not so? |
|
Pillar of the Community
 Canada
5400 Posts |
@ Macdon sounds to me like you were getting the old dealer " Brushy Brushoff" from whomever you were trying to deal with. Could be a couple of things involved. Dealers not wanting to buy right now or more likely ,due to the rather uncertain Canadian economy and not having a lot of ready cash. I will say that even though a 1948 Silver Dollar is not one of my favourites, I for one dealer could not look you in the eye and offer less than 55 to 60 per cent of trends or cat. No matter how ugly the market there would still be a small profit in it. If these dealers were. Members of CAND or the ANA you could launch an informal complaint if you have some concerns . Either organization is pretty good at policing its members. |
|
Valued Member
Canada
495 Posts |
@pacificoin
always appreciate your comments and thanks to others for replies and concerns. It is a great community to belong to for sharing and getting help.
Thanks
|
|
Pillar of the Community
Canada
2495 Posts |
I hate repeating myself but here goes.....
Prior to the great downturn (2008) in the Canadian coin market, dealers were lining up to buy from anyone they could and were paying 60% of trends (minimum) and sometimes more. During these 'good' times, they were selling at 80% of trends.
If you want to know what the state of the current coin market is, there are two proven indicators.
One, is how much they are paying and two, how eager they are in their buying.
As I mentioned above, the dealers used to buy at 60% of trends, now they are somewhere between 30% to 45% of trends, but more importantly, referring to point number 2, most of them do not want to buy AT ALL even at these low percentages.
The one big problem still out there, is the dealers are still asking their 80% to 90% of trends price.
I find this a big joke.
Dealers should be selling at prices somewhere between 50% to 70% of trends. That's it!! No higher than this.
Anything higher and they are in dreamland.
|
|
Valued Member
Canada
495 Posts |
@doubleeagle
Agree with your comments and that is my point with a wakeup call I got these past few months. I don't buy into the remarks that Canadian coin market is doing well and that is not based just on my experience. It takes buyers for sellers to make a living in any business but from what I see the coin market in Canada is in need of major changes to insure it will thrive starting with Trends price guide, we are fools to rely on this for values- if its as bad as some of the LCS tell me when I opproached a few to sell then you are indeed in deep trouble so please stop referring to Trends as a reputable source to justify what you are selling and in same breath insult someone seeking to sell by offering 20% or lower off Trends - what your telling us is that is the true price and Trends and all other resource cannot be trusted.
I recall reading on this forum that some collectrs bought a large number of the BOC gold coins some years back thinking that it would be a nice nestegg someday and who could blame that rationale! look at Trends price for a 1914 $10 Gold MS 64 $9000 but wait I don't see Trends correcting this big boo boo and at least saying Oooooops, try and sell these coins for anywhere near what they list and good luck on that.Im surprised they are allowed to get away with this baloney.
|
|
Pillar of the Community
Canada
2495 Posts |
Macdon....I agree.
However, I do not need a complete overhaul of the Trends pricelist.
I just adjust my buying and selling percentages accordingly as I have previously mentioned.
I do however think a few individual Trends prices should be adjusted (meaning prices should be dropped) when giant hoards of specific dates appear unto the market.
Examples being...certain large cent dates of the Langdon hoard, BOC gold coins (which I've overheard many dealers say "they're just worth bullion now", and the huge rolls of MS grades in previous years such as the 1946 (dimes and quarters I believe) and 1914 rolls (5c and 10c).
|
|
Pillar of the Community
Canada
5324 Posts |
There are some bell weather coins in the Canadian market as like the MS 66 5 cent recently auctioned by Empire that apparently went for under 70,000.00 such a coin with the strong US dollar in a decent market would have sold for close to trends. As for the BOC mess the trends seems to never adjust to the market place and the fact of 30000 extra units, only the highest graded units will be valued the rest will graduate to bullion value. Like all coins at the moment just few buyers, except for quality stuff.
|
|
Valued Member
Canada
495 Posts |
@john100
Yeah, your right about the scenario of zeroing in on the high end that would be my advice to those that can afford it-- makes better sense for potential resale e.g Belzberg
|
|
Pillar of the Community
Canada
1192 Posts |
The biggest problem with trends is that there is no consistency in the guide price vs real price across different coins. There is no rule of thumb for what % discount off trends to sell at.
There are many (mostly modern/common) coins which trends are simply way, way too high on. These coins are the types which are exceedingly common, overvalued in trends, and not much demand for any longer. These are the types which will get a no offer up to maybe 25% from a dealer.
Then there are tough dates/condition pieces which trends are fairly accurate for (within 10-25%). These are the kinds of coins to expect around 50% of trends for at wholesale.
Then there are money coins such as 1921 5c, 1948 dollars, 1890 50c which will wholesale for close to full trend, retail for trends or even above at times.
There is a wooooorld of difference between the three categories. A dealer offering 20% on the first group is reasonable. Offering 20% on the better or best coins of the other two groups is a crook. Offering 30%+ on the first group is financial suicide.
|
|
Pillar of the Community
Canada
955 Posts |
I recently made my most expensive purchase in my twenty years of collecting coins,$45.00
for a F-F15(raw) Canada 47dot nickel(didnt notice the dot between A and D til I got home,bonus).
I dont collect coins with the intent of resale in mind. I dont mind paying more (or less ) than Trends if its
a coin on my want list.Having said that I wouldn't pay 10% of Trends for any coin, any grade, post lets say...
1980 (except rarities) simply because there's an outside shot I might still find one.Having said that,
do collectors such as I effect the market one way or another?
My recent purchase,I cant help but think that because of the current market I got that price because
the seller wanted the sale.Thoughts?
|
|
Pillar of the Community
Canada
5400 Posts |
All 1947 Dot five cents have that diagnostic between the "AD" as well as after the date and another under "CENTS" for a total of three dots!
It is always a popular variety. Keep at the hobby sounds like you enjoy collecting and are on the right path. With the economy and the coin market being soft in Canada now is a good time to search out some neat stuff. Good luck.
|
|
New Member
3 Posts |
Hi Everyone,
Hope all's goin' well... :)
I've been collecting since I was a kid in the 60s...
And buying & selling on ebay for past 10 years...
Yes... "prices / values" have fallen over recent times...
And yes "Trends" is not close to an accurate reflection of realistic market values...
But for me "sales" are still active... as I've made the adjustment to let coins go for market value rather than hold out and wish prices were still strong...
It's a great buyers market these days and lots of collectors are taking advantage of low prices to add wished for coins to their collections at a price they can afford...
Take care, and Have a Great Evening!
cameron93
|
|
Pillar of the Community
Canada
5324 Posts |
One of the few good things at the recent Coin Expo, there seems to be a lot more young collectors roaming around
|
|
|
Replies: 102 / Views: 17,323 |
|
First Page
Previous Page
Posted 01/27/2016 2:07 pm
