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 Replies: 9 / Views: 2,629 |
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Pillar of the Community
United States
1356 Posts |
After watching the major auctions of the past two years or so, it seems to me that the prices for high graded (MS-64-65-66) large and small cents with decent eye appeal have taken a substantial leap upward since, say 2020. The same is true for the scarcer one-cent varieties in problem-free mint state and circulated grades. That goes for both ICCS and PCGS graded coins. IMO Trends and the other price guides currently underprice these nicer coins by a fairly large margin.
In my opinion, that usually means new players and money in the game, but other factors could also be at play.
Do you agree, and why do you think it is happening?
Makes me wonder if I should be selling instead of buying. http://www.victoriancent.com2011 & 2025 Fred Bowman Literary Award, 2025 Guy Potter Literary Award, 2022 Paul Fiocca Award, & 2020 J. Douglas Ferguson Award. Life Member of RCNA.
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Bedrock of the Community
 United States
25977 Posts |
bosox, because I'm a conservative holder, when I see trends like this it makes me want to hold on to what I have for a bit longer.
One paradox that flummoxes me is the projected trends for silver and gold prices to remain relatively steady for the next 5 years while inflation remains.
What to do, what to do?
Inordinately fascinated by bits of metal with strange markings and figures
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Pillar of the Community
Canada
1505 Posts |
Great question and observation. I have noticed the same and have been thinking about the same. Mine are definitely not at the same level as yours, but some really strong prices across the board. Specimens (1970 and earlier), 1948 SD have all been really strong as well.
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Pillar of the Community
Canada
1624 Posts |
Quote:
Specimens (1970 and earlier) Agreed; a 1953 PL66 1c went for almost $3,000 all-in at the July Torex event, and a 1951 SP66 $1 went for almost $5,000 at the April event. |
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Pillar of the Community
Canada
1984 Posts |
I completely agree on the small cents. TCNC has sold three or four MS66 1961s lately at $300+. These were more like $100 coins a few years ago. They just sold a 1956 MS66 for around $1500 and a 1984 MS67 for close to $500. These prices were unheard of a few years ago. I personally have taken advantage of the strength to sell off all of the coins I had bought over time that I later upgraded. Literally now all are gone and I made money on nearly all of them.
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Pillar of the Community
Canada
5405 Posts |
Trends are way out of touch . Since Covid has relented and I have been back on the road quite a bit to various shows and events here in Canada and the UK the REAL MARKET is way up . Not only Canada Large, Small Cents , just about everything else of quality . Currently have a client who wishes to acquire a nice C MINT (OTTAWA) Sovereign set 1908 to 1919 . Only wants to pay 90 Per Cent of book as he calls TRENDS. Told him good luck. Right now you can get over CANADIAN Trends easily for most dates! Another example , not Canadian but British. Last week sat in at Baldwins 108 sale when I was in London. The prices on Nice GB Bun Heads and Maundy sets well over any current trends or catalogue prices. Yet another .the wild prices US dealer wholesalers are paying for Morgan dollars and US gold . Bosox observations are right on the money from what is happening world wide in quality coins . Certainly a by product of way too much money chasing too few goods ! |
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Valued Member
Canada
222 Posts |
Good topic and I love your observations.prices have definitely increased.from what I can see a number of collectors returned to the hobby during the pandemic. many people were stuck at home and had extra cash on hand due to lack of consumer spending (most of us weren't spending much on restaurants, gasoline, travel, and entertainment during that time).I suspect also that a number of new collectors entered the hobby (people with more free time on their hands during the pandemic who discovered online coin auctions while trapped at home).as we have begun the climb back to normalcy out of the pandemic it seems that a lot of people are still very actively participating in the coin market.my hope is that this continues and the new collectors in the marketplace have discovered what a wonderful hobby we are all part of.
As a side note, the renewed interest in coin collecting and online coin auctions seems to mirror what happened with online investing during the same time period.
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Bedrock of the Community
Australia
21788 Posts |
Old numismatic adage:
"The rare coins get rarer, the common coins stay common."
In this case, top grade coins are scarce (for moderns), and rare for about pre 1950.
When more collectors are willing to pay top dollar for for pristine coins, their value goes up, relative to lower grade coins.
The market has been trending in this way (more or less over time), for decades.
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Pillar of the Community
Canada
2495 Posts |
Sign of inflation.
Smart money getting rid of their depreciating fiat for something that is truly 'rare' and most likely will appreciate over time.
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Pillar of the Community
Canada
557 Posts |
Quote:
"Certainly a by product of way too much money chasing too few goods !" Not really a bad thing for the hobby overall, is it? |
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Replies: 9 / Views: 2,629 |
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Posted 11/17/2022 3:45 pm
