| Author |
 Replies: 33 / Views: 6,559 |
|
|
|
Pillar of the Community
Canada
2495 Posts |
It's impossible to make a quick profit paying 50% of trends and then the buyer's fee and HST and then realize the true value of the material is currently only 50% (based on average ebay sales). Gone are the days of selling high grade ICCS coins on ebay for 80% to 120% of trends. Sellers listing their coins on ebay for full trends are dreaming and sadly, if things don't turn around, they will be holding on to these coins for a very, very long time. As I said before, it's a buyer;s market out there, but on the otherhand, don't get caught up on the notion of a quick flip for profit, either. |
|
Pillar of the Community
Canada
1984 Posts |
I was surprised at the strength of the small cents. The 1929 MS66 had sat unsold in many TCNC auctions at progressively lower reserves. I think it finally went for around $2500 a couple of years back. $4000 last night plus fees. Someone paid over $700 for a 58 MS67 and over $500 for a 63 MS67. These are solo finest graded but with grade inflation are likely not solos if you looked at all the other MS66s out there. The 1920 to 1960 cents all got decent bids even though a number had issues as far as I was concerned. Almost everything sold in this category.
|
|
Pillar of the Community
 Canada
2187 Posts |
Quote:
I had initially planned to bid only on the first night, the Landon section, obviously, that changed quite a bit when I was blown out of the water on most of the lots I was going for, I was able to grab some very nice pieces for quite a reasonable price... Me too I had a rough time on the Landon with people blowing bids by me. I was about to give up on the rest of the Legacy auction but I thought i'd give last night a chance, and I'm glad it came out as it did. |
|
Pillar of the Community
 Canada
5403 Posts |
Double eagle remember one thing. Most of us dealers are in this for the long haul and are not to worried about a quick flip on ebay for a potential profit. The GST HST is not an issue to a registered business and the buyers premium is just part of the process and not a hindrance. You just adjust accordingly. I will say that the sale so far for me has been excellent and once I get back home and start going through the stuff, there will be a profit. The Canadian coin market is not dead and you cannot buy everything for half price. This sale especially part one, the Landon stuff is a breath of fresh air for the Canadian market.There are encouraging signs out there and I see only better things for the future. Just as there are buyers for a nearly quarter million dollar 1921 Half there are buyers for lots of fifty dollar coins as well. My motto in the coin business is you get rich ten bucks at a time, through patience and hard work. Being a coin dealer is a tough way to make an easy leaving ,but it sure is fun! |
|
Pillar of the Community
Canada
2495 Posts |
Pacoin...I agree with your last comments entirely, except "The Canadian coin market is not dead and you cannot buy everything for half price".
Instead I would have said "The Canadian coin market is not (entirely) dead and you cannot buy everything (but probably 90% of most coins) for half price".
Edited by doubleeagle59
02/13/2015 09:53 am
|
|
Moderator
Canada
10462 Posts |
Session three of the Legacy II Auction has a nickel dollar error...  But since I already have two of that error type, I am going to let everyone else have a chance at it!! Good luck!!  "Discovery follows discovery, each both raising and answering questions, each ending a long search, and each providing the new instruments for a new search." -- J. Robert OppenheimerContent of this post is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License. See: http://creativecommons.org/licenses...0/deed.en_USMy eBay store
|
|
Valued Member
50 Posts |
I agree with what dat pacific guy said about
Quote:
" dealers are in this for the long haul "
Buy and the sell of the coin it is like an investment kind of work not like selling the vegetable I beend around for the longtime and have watch the market it move up and down for varieties of reason but in history value of the rare coin stay better than the stocks.
The "trends" it does not meen nothing to me so its whatever you an I can agree on for a price is what it is worth no?
One thing to think about it with the ones who do the seller on the ebbay its maybe not what they think the coin its worth eh but always more than easier to go down than to go the up :)
Don't be fraid to try the offer as that works good for me most of time and I can make a negotiate a price that is fair its a real good time to do the buying right now!
|
|
Pillar of the Community
Canada
4911 Posts |
I was kicked in the gut by their tech. difficulties, I held the highest bid for 11 hours and once my coin came up someone bid $10 more than me so I pressed max bid of $130 and something happened, my bid didn't get registered and the coin had been sold. I'mhoping to win a different lot tonight though.
im glad to hear other members had success though, good luck to everyone.
Feel free to call me Will.
|
|
Pillar of the Community
Canada
1505 Posts |
Looks like you all seem to have had some fun so far spending or not, your money and perhaps loosing sleep over it. ( ridicules timing)
Am not sure in one way, but do understand in another, what you guys are talking about.. So far, I got exactly what I was after 5 times and at less than I was willing to pay. No stress, No issue, No problem....( just need to pay now)
some of you guys in business can write off your trip etc..., unfortunately, the average Jo-Blow can not and we pay the full shot.
At the same time I took part in a couple of other auctions overseas and won my lots there.
I bid because I want the coins, not the name or provenance or being able to say : that is from the xxxx auction.
as far as pricings and what will happen in the near future?...
Life in Canadian circles will go on as before, perhaps even pull up again with certain coins. Remember the gold hoard?
why? easy suddenly a lot more collectors will be happy and content with a lesser graded coin than what they were aiming for. and that means a new(er) market for the mid ranges.
Edited by 47P7
02/13/2015 12:20 pm
|
|
Pillar of the Community
Canada
1049 Posts |
I was surprised at the low prices on the silvers, I thought there would have been more dollars spent on them. I compared a few of the sales to ebay sales and noticed that the ebay sales were much higher dollars on some comparable grades. Now I was happy to see the 1929 cent price, I have one that's high MS red brown so that sure was good to see. It'll be going out for grade in a few weeks. |
|
Pillar of the Community
Canada
5403 Posts |
It is like any other business, you do not write off the trip it is an expense against taxable gross income. 47 did you get what you wanted out of DNW auction ? I was lucky on 5 of the 11 lots I was interested in. Some of the stuff went pretty high.
|
|
Pillar of the Community
Canada
1505 Posts |
always goes high there.  But I am extremely pleased to say the least.  a lot of coins there.... u seem to have a very lucky string these days.. u probably need an extra suitcase to take it all home... good for you...  |
|
Pillar of the Community
Canada
5403 Posts |
Actually 47p7 the lots I got out of them this time are in the Royal Mail on their way. I only got 2 bigger lots the others were single lot coins. You are right I do have a bit of luck their been going for over thirty years now. London is like second home.
|
|
Moderator
Canada
10462 Posts |
I was under the assumption that the Victoria North collection was one built from purchasing higher end coins already in ICCS flips. Yet, the collection was sold in pedigreed ICCS flips. https://goccf.com/t/198595This has me curious. I wonder if Chuck Moore actually just resubmitted the coins for an new certificate with the comment, or did he submit the coins raw, and ride the grading highs from the Landon collection... we'll probably never know, but I do know it would be more expensive to do the latter (and a risk as well)... "Discovery follows discovery, each both raising and answering questions, each ending a long search, and each providing the new instruments for a new search." -- J. Robert OppenheimerContent of this post is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License. See: http://creativecommons.org/licenses...0/deed.en_USMy eBay store
|
|
Pillar of the Community
Canada
2187 Posts |
Quote:
I was under the assumption that the Victoria North collection was one built from purchasing higher end coins already in ICCS flips. Yet, the collection was sold in pedigreed ICCS flips. To be honest I'm not very knowledgeable on these collections, but you do raise a good point.From what I know, the Victoria North collection was put together to have some of the best pieces from different times. So I would guess it would have previously been graded before auction, and would not have had the name on the label. :S Hopefully someone could clarify it |
| |
Replies: 33 / Views: 6,559 |
First Page
Posted 02/13/2015 08:58 am
