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Heritage Auctions Has Become The Dump

 
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Valued Member
United States
145 Posts
 Posted 03/23/2018  12:09 am  Show Profile   Bookmark this reply Add Coronet1832 to your friends list Get a Link to this Reply
I fail to see how fewer quality coins is a business decision by Heritage rather than a change in what's available for resale. The world population increases by 83 million each year - surely that means there are at least some additional collectors? And it's not like additional classic coins are being minted.

I've been a regular customer with Heritage for awhile, and while the costs and taxes and shipping are annoying, it's pretty simple to figure out a red line price, keep checking what's available, and bidding when you find something you like. And yes, sometimes I keep getting beaten.

It's not Amazon, so it might take awhile. But that's what makes collecting fun.
Edited by Coronet1832
03/23/2018 12:18 am
Valued Member
United States
97 Posts
 Posted 03/23/2018  12:35 am  Show Profile   Bookmark this reply Add Vermillion Flycatche to your friends list Get a Link to this Reply
I don't think things at Heritage are any worse than other auction sites. There's a lot of poorly struck and marginal coins on the market right now nearly everywhere I look. Even if prices aren't going down, the perception that is happening will keep sellers on the sideline and reduce the overall quality that's on the market. Except for the upper end, which most collectors cant touch, prices have been flat for quite a while- at least as long as I've been collecting again (3 years or so).

What's actually more frustrating is setting an alarm for midnight so you can be up for the silver dollars on Heritage's Tuesday auctions. Same number of coins as the old Sun Tues auctions packed in one night? Not working for me anymore.
Pillar of the Community
United States
655 Posts
 Posted 04/01/2018  07:58 am  Show Profile   Bookmark this reply Add ron6788 to your friends list Get a Link to this Reply
In regard to the 2nd part of this observation, that decent coins are being bid up to stratospheric levels, I think it's true. I've been losing bid after bid after bid, for months now, and I'm already going one-two-three bids higher than I'd like. I don't know what's going on. Yesterday, was a ridiculous example.

An ordinary, but nice, bust half was going for about $420 with a couple of hours before the live auction. The prior history of the last similar sale was 6 months ago and was $432. I've been needing this date for a while, even though it's fairly commonplace, so I threw caution to the wind and entered a whopping max bid of $620! Still lost. The final bid was $690. Unbelievable. (It wasn't a rare variety and didn't have special toning and was just an AU with some nicks.)

The more this goes on, the more I'm thinking now's the time to just sell everything, wait for another recession, and then buy everything back, lol.
Pillar of the Community
United States
3479 Posts
 Posted 04/01/2018  3:55 pm  Show Profile   Bookmark this reply Add MikeF to your friends list Get a Link to this Reply

Quote:
The more this goes on, the more I'm thinking now's the time to just sell everything, wait for another recession, and then buy everything back, lol.


According to those who were actively collecting coins on this forum during the period, the last recession was a great boom for the coin market due to high precious metal prices.

We haven't seen the follow through into metals yet, but with light sweet crude trending higher and the yield curve flattening, I suspect it's only a matter of time before the metals start another run.
We've been hooked on cheap money for way to long. It's been that way since 2001 when balloon-head Greenspan caved to prop up equity prices following the stock bubble.
Watch for the yield curve to invert over the next 6 months as we head into the next recession. Metals and commodities will rally once the realization sets in that our markets can no longer function on their own without the printing press and low interest rates.
I'm betting the fed will only raise rates 3 more times.

Metals have put in a sustainable bottom and the way I see it, the next most likely direction is up.



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