| Author |
 Replies: 23 / Views: 3,594 |
Page 2 of 2
|
|
|
|
Pillar of the Community
Canada
838 Posts |
DBM: Yes... but here's hoping our coins go up and the coins we want go down! I guess this good fortune has kind of happened to me, since most of my post-1900 Canadian silver was acquired by cherry-picking the "melt" trays back in 2005 when everyone told me to buy in "the best grade I could afford" (whatever that means -- I could afford to eat dog food and stick to >= MS-63). Boy I'm glad I ignored those people.... Anyway, you got a nice bargain off of trends, danloss -- nice acquisition! I'm still looking for this date, and hopefully not a Chinese example.  |
|
Pillar of the Community
 Canada
1442 Posts |
"The market pegged it at under $700" LOL...a bad picture and an unpopular TPG will do that. So I'll probably cross it over with PCGS. Speaking of a bottom...it can't be far off...it feels extremely lonely down here, buying keys and rare coins ;).... while people are busy stuffing themselves with worthless Olympic coins at $55/oz ...with silver slipping more and more under $35 day by day ;)... |
|
Pillar of the Community
Canada
1051 Posts |
Quote:
I don't understand... how is it going to move anywhere near $1500 any time soon if the market pegged it at under $700? If the coin makes a trip to a grading company on Yonge Street before being relisted ;) |
|
Pillar of the Community
Canada
838 Posts |
OK... my apologies. I guess you guys are smarter than the rest of the buyers out there.
(They say "buy the coin, not the slab", but I suppose people still buy the slab.)
Edited by bibd
06/28/2011 4:42 pm
|
|
Pillar of the Community
Canada
1442 Posts |
True...unless the NGC graders were 25 points off on this one (VG10 instead of VF35)...then it was a good deal..
And if anyone has an EF40 NGC 1893 10c round top 3 available for sale for under $1000, or a 1890 in G4 in NGC for $100...please line up...
I have all the cash necessary to buy up "your crap" :)...
|
|
Pillar of the Community
Canada
838 Posts |
I'm sure it's at least VF-20, so you can rest easy on getting a deep discount off of trends.
What I don't understand is this: either the market is out of money, has lost sufficient interest, or the market doesn't trust NGC within 15 points. You trust NGC within 15 points, and are most certainly correct in doing so.
Unfortunately, I feel more of the reason is that the market is softer than many think, and NOT that the slab is wrong.
I just can't see the numerous high-stakes professional buyers (like at J&M or Colonial Acres) not knowing they can cross over a coin. That's Coin Dealing 101, isn't it?
Sorry for my difference of opinions, by the way. I still think you have an outstanding (and growing) collection, acquired at a great bargain.
|
|
Pillar of the Community
Canada
1442 Posts |
The irony, is that I had no intention at all of winning the coin. I just like to throw low bids in auctions of keys "just in case". So I threw low bids at the VF35 1875 dime (won at $675), and the EF40 1884 dime (hairlines) (won at $480)...didnt even watch the auctions end. I was stunned when I actually won. A vastly inferior ICCS F-12 1875 dime example sold a few days back at $650. Hope that person isn't watching. You're absolutely right, the market IS soft. Where's the money? Tied up in debt, trying to pay it off. I think the Canadian middle class has committed suicide over the last 5 years via the housing market, record personal debt levels, etc...and this is the result...and if the Canadian housing market pulls back hard...then more goodies will come up for sale cheap in a debt deflation liquidation :)... Where are the dealers? Probably suffering with inventories they can't move now...unless they take a hit...so they try and wait...and probably have no money to add more "deals"... Where does the ebay money go? I bet you if you did the math, 95% of money spent on Coins: CANADA....goes into bullion. And those bullion purchases made in the last year are about to take a very painful haircut...what if silver ends the year sub $20? If you spent thousands buying silver bullion at $50-$55/oz instead of keys...you're in a world of hurt... So I think this is a golden opportunity for mid level buyers: $500-$5000 range. The traditional buyers in his level are being annihilated by a perfect storm of 2 bubbles: the Canadian housing bubble, and the commodity/precious metal bubble, both of which are about to burst at about the same time. The high end market will probably be fine...(I dont see matrix giving up his 1921 50 cent PCGS MS66, under $218,000 for a loss anytime soon ;).... Finally...in this kind of environment, you simply dont put up a > $500 coin with a starting bid of $10 and no reserve. Its just asking for trouble ;)... Many coins < $500 still get good action from a low starting bid and no reserve...but once you go over $500...you better be patient and wait for that rare surviving mid-range buyer for a while, otherwise you're gonna take a hit |
|
Pillar of the Community
Canada
838 Posts |
I agree whole heartedly. I just hope over the next few months I can hide some nice buys from my wife! (Just kidding)
|
|
Pillar of the Community
Canada
576 Posts |
Nice buy for sure. But the gnawing question remains - why do trends continue to be so out of sync with general selling prices? I've sold lots of coins in the last few years but I've never expected, except in exceptional cases, to get any more than 70% of trends. In most cases I'm looking for close to 50% of trends which shows what I'm willing to pay and can usually find when I look. And I'm picky - I go for attractive, circulated coins mostly and I don't buy or sell junk. The trends prices continue to reflect a world I've never witnessed or visited in my dealings selling coins privately or by auction.
|
|
Pillar of the Community
United States
629 Posts |
I think that another factor is our aging population of numismatic collectors. How many fathers out there that have been collecting forever are now facing selling their coins as opposed to giving them to their heirs? Their advantage is that they bought in a different market when things seem low priced compared to today. Everywhere is hardships and costs have gone up and our incomes are not providing enough to offset the expenses.
|
|
Pillar of the Community
Canada
1442 Posts |
I've seen some nice raw coins trickle in from the US, and I can only wonder if it is these Canadian retirees that are "liquidating" their old collections...
So far, a raw 1893 RT3 dime in VF30-EF40, a raw 1913 BL dime in EF40-EF50, a 1875 quarter in F15...
These are not the kind of coins that should be floating around the US, raw :)...
|
|
Pillar of the Community
Canada
1442 Posts |
I can't believe I just said EF50...lol...AU50...
|
|
Pillar of the Community
United States
629 Posts |
I don't see why not - graded coins are in the minority in my collection. But I could probably send in 50 coins for grading. But I don't want to make the invest in grading when I would rather buy more coins. Or is I was a retiree, why invest in grading when I need to pay utilities, rent, food, etc?
|
|
Pillar of the Community
Canada
838 Posts |
Colhand1: I think like you... why pay for grading if you're not selling?
|
|
Valued Member
Canada
268 Posts |
I always find US grading services have difficulty with Canadian and world coins. Ancient grading is all over the place. I'm not a big NGC fan either. Canadian Coin News trends are still too high. They're getting better now that there is a new trends editor. The market on mid to lower grade coins has become quite soft since the recession. Dealers typically discount 10% to 20% on mid/lower grade material. The rim looks damaged at the N in REGINA.
|
|
Page 2 of 2
|
Replies: 23 / Views: 3,594 |
Page 2 of 2
|
First Page
Posted 06/28/2011 02:02 am
