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Pillar of the Community
Canada
3690 Posts |
Quote:
Something odd about this auction, the seller claims Certification by NGC with a grade of MS 70. How can that be since the coins have not yet been shipped? There is a lot wrong with this listing. So much so, that several RFDers were talking about reporting it last week. The grade, the calculated yearly mintage numbers and the seller even used a mix of descriptions from the 2012 1/4 1812 gold and the 2012 Sugar Maple, including saying that it has crystals. Really, I'm surprised that it didn't sell for more since it's such as 'special' coin (perfect grade, proof finish w/ crystals).  Edited by CC-Ottawa
12/02/2012 11:53 am
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Pillar of the Community
Canada
1354 Posts |
 plus he states he will have it in 2 weeks. I thought I read somewhere shipping was at the end of December? That's longer than 2 weeks away. |
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Pillar of the Community
 Canada
789 Posts |
After the ebay and paypal fees, do the seller still make any profit. I HOPE HE LOSE BIG! |
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Pillar of the Community
United States
2408 Posts |
Quote:What someone "asks" on ebay means absolutely nothing! Ah, but that's what free market is all about... Offer and demand. In my mind, both sides of the equation are equally important. |
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Pillar of the Community
Canada
1571 Posts |
@Canadian coins,
Looks like that guy was trying to cash in on a coin that he had collected that was saved prior to the ones the mint is selling got locked away for 75 years. (or however long it was). It's possible, or rather probable that he had one of the fewer ones that never got turned in for the war effort. It very can well be a ms-70 coin that he either had grading when he bought it, got in graded a long time ago for bragging rights or decided to get it graded upon hearing of the mints release the these coins. ms-70 will be tough to beat from the coins the mint is selling, in my amateur and untrained opinion.
How much did it sell for?
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Pillar of the Community
United States
1002 Posts |
Quote:
Looks like that guy was trying to cash in on a coin that he had collected that was saved prior to the ones the mint is selling got locked away for 75 years. (or however long it was). It's possible, or rather probable that he had one of the fewer ones that never got turned in for the war effort. It very can well be a ms-70 coin that he either had grading when he bought it, got in graded a long time ago for bragging rights or decided to get it graded upon hearing of the mints release the these coins. ms-70 will be tough to beat from the coins the mint is selling, in my amateur and untrained opinion. His description said he was getting the coin shipped from the RCM in two weeks so it wasn't one he had. I suspect the MS70 NGC grade was his own pick in making the selections for the ebay listing and doesn't represent an actual grade. The seller seems to sell more other collectibles rather than coins and apparently isn't well versed in coins. It sold for $1,100. |
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Pillar of the Community
Canada
1571 Posts |
I haven't checked out the ebay ad but it could be an actual ms-70 coin he had for awhile. I've sold lots of stuff on kijiji and had sometimes mixed up ads via copy and paste and had totally wrong ad with pictures and title from a different ad. I'm giving him the benefit of the doubt. Very well can be a full out scam too. I'd say dont buy coins from ebay in all cases regardless of certificates, or proof of grade, or anything else. I know it limits the coins you can collect but it helps to keep good ol' coin shops open. I trust the guy I buy from and sell coins to face to face over a made up name on the Internet. Call me old school, eventhough I'm no where near old. |
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Pillar of the Community
United States
2408 Posts |
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I trust the guy I buy from and sell coins to face to face over a made up name on the Internet. That would be hard for someone living in Arizona to collect Canadian Coins... For example. |
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Pillar of the Community
Canada
1571 Posts |
I like to collect coins that I like the design of that are gold or silver. I don't care about grades on coins. I collect them so know enough to buy a decent coin over one all scratched and worn but it doesn't have to be perfect. When I have guest and they see the coins, they have never said "nice coin but I prefer the ms-70 version". It only important if you plan to sell it to someone who really cares about grade. I have no plan to ever sell my coins. When I have kids, I'll pass them down to their kids. I buy cool coins as close to to the melt value or face value as possible. Or I buy coins straight from the mint in plastic cases which are usually much closer in grade to each other anyhow. The average quality ones will still be worth the melt and that's going to be much higher in 40 years.
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Pillar of the Community
Canada
1571 Posts |
Even still, buy from coin shops that have a shop you COULD actually walk into if you if you were standing in front of the address listed. Eg. 1234 anytown st., Toronto ON, vs. http://www.coinsella.con (com). You can still go to their website and see inventory but my theory is coin shops care about the hobby. A guy that buys all kinds of crap and sells it in ebay doesn't care about the hobby or you, the customer. Just his profit. And coin shop guys can usually get whatever you want anyhow with their stores reputation at stake. If he (coin shop guy) sells junk to you, you don't by from him, he closes business. On the web, guy sells you junk, you don't by from him again, he changes name, you buy from him. I've yet to meet a coin shop guy that works at the coin shop all day, then goes home and makes a million ads for coins for fun at night. ebay prices distort the true market value both ways, up and down. Find a high price for an item on one ad and a crazy low price another. And what someone buys it for also means nothing. Many people have far more money than brains or time. |
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Pillar of the Community
555 Posts |
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Ah, but that's what free market is all about... Offer and demand. In my mind, both sides of the equation are equally important.
Your general supply and demand statement completely misses the point. By the way you got it wrong, it is not offer and demand, it is supply and demand! A exaggerated starting bid is not both sides of the equation. If you look to those exaggerated starting prices to determine fair market value, you will overpay. Completed listings are all that matter. |
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Pillar of the Community
United States
2408 Posts |
^^ pardon my french; offer and demand means just the same: supply and demand. But I'm certain you knew that too, right?
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Rest in Peace
Canada
1360 Posts |
With that in mind, (the supply and demand discussions) I looked up completed listings (all but one closed before the 28th Nov) for 1913 $10 gold. All Sold, with gradings of AU55, MS63, and simply stated UNC.
The UNC sold after the Mint's 'big reveal' on Nov 30, $1,390.76C The other two were sold in October - both also for over $1000. ($1,050 AU55, and $1,446 for MS63)
Assuming the coins we are getting are as good, the Mint's price of $1,000 is not far off, and could very well be a really good deal if the individual coins are quality "Hand" selections.
All this speculation of being only 'worth BV' I think is poppy cock. There will be price adjustments up and down, but in the long run, I think any 1912 through 1914 gold coins will hold a significant "historic" value. Even more-so if gold should appreciate beyond what it is.
for what it's worth... my 2 cents.
Edited by Dcadon
12/02/2012 2:01 pm
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Pillar of the Community
555 Posts |
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^^ pardon my french; offer and demand means just the same: supply and demand. But I'm certain you knew that too, right?
Nope. As a business major I never once saw offer and demand substituted for supply and demand. Supply means the amount of goods available. It has no correlation to an 'offer'. You have basic economic terms mixed up. |
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Pillar of the Community
Canada
1571 Posts |
Supply and demand. Offer or bid... Everything's negotiable.
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Posted 12/02/2012 11:56 am
