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 Replies: 19 / Views: 4,432 |
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Pillar of the Community
Canada
999 Posts |
I noticed that and it confused me for a bit. Mike is referring to the prices he is quoting from the Cook auction in his commentary.
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Bedrock of the Community
Australia
21788 Posts |
I see an interesting opportunity for close to border U.S. / Canadian coin collectors:-
Buy in the U.S., when U.S dollar is strong, sell in the U.S when U.S. dollar is weak.
Buy in Canada, when the CDN Dollar is strong, sell in Canada when the CDN Dollar is weak.
Profits can be made to best suit collection building, when travelling Canada to U.S., or vice versa.
In Australia, I have been doing this with coins generally, not just U.S. or CDN coins, over decades.
My problem is I don't have an opportunistic travel situation, and I tend to buy when the AU Dollar is strong, but I don't sell anything. I just have times when I buy more often, or just back off, when coin buying seems more expensive than it should be.
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Pillar of the Community
Canada
576 Posts |
I don't know how they can correct Trends. It's common practice now for collectors to expect a price of between 40 and 50 per cent of Trends and to consider a price above that excessive. Where that leaves dealers (on the buying end) I'm not sure.
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Pillar of the Community
Canada
3733 Posts |
Quote:
It's common practice now for collectors to expect a price of between 40 and 50 per cent of Trends and to consider a price above that excessive. Not even close to true. where are you buying coins for 40% of trends. or even 50%, and I am not taking about modern coins. I would be happy to give you a list of coins that I need. |
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Pillar of the Community
Canada
576 Posts |
Silverwolf, if you're paying more than 50% of Trends on a regular basis you're not looking hard enough. I've been buying on ebay for a long, long time and have no trouble getting what I want at the price range expected. And when out and about I won't buy unless prices meet my range expectations. |
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Pillar of the Community
 Canada
5394 Posts |
Not a chance you are buying coins that are graded to ICCS standards ( what trends are based on ) @ 40 to 50 per cent of trends , UNLESS THEY ARE COMMON! That part of the market is a mess! Key Date and semi key Date no way!
I have about four want lists I would love to fill and am prepared to Pay more than that as a dealer .
I will start by asking for an 1890 H , 1894 , 1905 Half in EF 40
All the 1908 , 1909 and 1910 C Sovereigns you can find me and I'll pay shipping .
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Pillar of the Community
Canada
999 Posts |
Quote:
I would be happy to give you a list of coins that I need. I want to get in on this 40-50% of trends as well! Tamarin, for a certain segment of the market you may be correct, but I have never experienced this consistently. I've kept a spreadsheet that now has 65 auctions on ebay, primarily Victorian silver, that start at $0.99. The average sell price, after shipping and taxes (i.e. what I would have to pay for the item) is 74% of trends. I find that there seems to be a decent market for lower grade items in VG or F and for nice MS items, but the VF to AU grades often have the highest discounts. It seems that people are either just looking to fill holes in the albums or are looking to build their registry set and there is not a whole lot in between. |
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Pillar of the Community
Canada
576 Posts |
Semi-key dates are easily available at 40 to 50% of Trends. The market is in a slump. The challenging key dates have a very specific market and most collectors aren't in that club. A 1905 half in EF? You'll be shelling out til Christmas. But if you want ICCS compatible scarce or semi-keys - I use the service only because in certain grades (MS) you often have to to complete deals - you'll easily find those in raw state on ebay at friendly prices. There are certain sellers - and I won't name them - who are a treasure and if you miss their offerings then you're missing a lot of joy. There are also certain times of the day to watch for and I won't name them. I meet people all the time who have given up on ebay and I just look at them and grin. There are problems there to be sure and I have excoriated the site for those but all in all the selling giant has been extremely good to me. |
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Pillar of the Community
Canada
576 Posts |
Cdncoins, I sold for a long time on ebay and left strictly because I felt ebay management was out of touch with sellers. I sold thousands and thousands of coins there. I have sold through auctions since and another forum. I don't consider myself a collector anymore, just a middleman. I enjoy what I do. I really like coins but I caution all those who deal with me privately that the market likely won't get any better and the prospects for further softness are something you can't ignore. Do not overpay. When buying always consider what the future market will look like. |
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Pillar of the Community
Canada
5394 Posts |
Where we are going here is interesting . Please define overpaying ? As an aside , I am still making a pretty decent living in the trade , mostly online since I canned the shop years ago . Had to switch gears though . Most of our revenue is US based from US and Worldwide coin sales NOT Canadian. We do one day a week retail at a busy market , the rest online including our own website, ebay and Etsy . |
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Pillar of the Community
Canada
3733 Posts |
Quote:you'll easily find those in raw state on ebay at friendly prices I buy and sell daily, and I watch all newly listed coins,almost daily....including key dates, semi key's, etc. including certified coins.... as I buy and sell, I can't pick up any coin for 40% OF TRENDS, without it being certified, then certify it, and expect to make any money.. |
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Pillar of the Community
Canada
3733 Posts |
i was also at at a recent coin show, and of course every certified coin, has a price sticker on it of full trends,
Try to offer a dealer 40-60% of trends, see how quickly you are on the , I don;t want to talk to you list..
in closing, if you can buy un certified, coins for 40% of trends, good for you, but then you have to resell them to someone who knows what a coin is worth , without a grading.. and that market is extremely small..
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Pillar of the Community
Canada
576 Posts |
Silverwolf, I love raw coins and am very comfortable with grading. I use ICCS when I have to and have mentioned before the easiest series to benefit in this is the GV nickel series. Buying raw and then certifying. I have certified two groups in the last year consisting of eight and fifteen coins, all MS coins picked up raw on ebay and certifying mainly MS-63 and MS-64 and I paid in all cases but one less than $20 each. But that series is an exception. It is made for people who can recognize a grade from a picture. But scarce coins come up regularly. Purchased in the last three weeks and all at 40% of trends or less include: 1927 quarter in EF, 1891 SDLL obv. 3 in AU-50, 1885 Small 5/5 in VF-20, 1908 Canadian half in VF-20,1908 Large Date five cents in VF-20, 1886 large cent RP6 in AU-55 and those are just some of the scarcer issues. I don't often agree with a certain Trends editor but he's right on one thing: there is a huge amount of estate material coming into the market now and that flood will only get larger. Don't overpay. |
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Valued Member
United States
467 Posts |
When I saw the title of the thread I began to immediately suffer from a case of, "Oh I Wish That Were True". I started collecting Canadian coins in earnest in 2005, and those were heady days for the Canadian dollar. I bought the bulk of my expensive coins prior to the 2008 downturn, and when the Canadian dollar was at par, near par or, for a brief period, higher than the USD. Of course, being from the U.S. and buying at par was the equivalent of taking an automatic haircut of 25% when the exchange rate changed, practically overnight. Factor in the 2008 market collapse and it's a huge ouch for my collection. Under water doesn't begin to describe the value of my collection now. That being said, I'm still forging ahead, darn the torpedoes. I have about three hundred pieces on my Canadian want list still. I am not seeing evidence of the great bargains that people have been getting though, save for one lonely 1912 twenty-five cents purchase on ebay several months ago. |
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Pillar of the Community
Canada
2495 Posts |
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Factor in the 2008 market collapse and it's a huge ouch for my collection. Under water doesn't begin to describe the value of my collection now. Reason #1 why the market stinks (collector got burned) Reason #2 from 2008 to 2011 every collector was buying silver and then in late 2011, guess what happened? Silver market cratered and the collector got burned big time a second time. OUCH!! Two BIG reasons why the market stinks and probably will not recover until silver hits $50 Canadian, which could be a very long time! Edited by doubleeagle59
01/07/2020 09:26 am
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Replies: 19 / Views: 4,432 |
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Posted 09/23/2019 08:38 am
