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The Change In The Price Of Ikes

 
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 Posted 07/18/2019  7:07 pm Show Profile   Bookmark this topic Add Gincoin43 to your friends list Get a Link to this Message
So I've been watching the overall price of Ikes since I started selling them. This is the link I get my info from.
https://www.PCGS.com/prices/pricech...-clad/746/ms

While it seems to be following the trend I would expect for a fairly new coin, I don't think it has stabilized. Since most Ikes were only circulated for a short time most of them are in decent condition. Which brings me to my concern. I have been selling lots of 100 pretty much wholesale. I fairly certain I am selling them for less than I could get but as it's mostly a hobby I don't really care; however, I have noticeably reduced the price of bulk Ikes on ebay, so much in fact, that my lots are pretty much the only ones that sell without being sorted, and the sorted ones all pretty much follow my listings prices. I am worry I am hurting people who are doing this for a living and I kind of feel like I am speeding up the spread in price for Ikes, which I'm ok with, but I would rather not distort it. It seems to me that the coins that the coins that have lost the most value in the last 3 months are ones I have seen the highest quantity of high quality coins E.g. 1977d, 1978d, 1974(d,p). I know there were at least 4 65 and above 1973 probably more(there is a fifth that is probably a 64/65 in a lot for auction if you want to see my estimates, I am an amateur) . On top of that the bags seem to have predominately one date there is a lot of high quality coins of. I have one sold several that were mostly 72, another that was mostly 78, and one that I just got that has a absolutely sill number of mint state 71s. If I sell that and the price of 71s drops do you think it will confirm that the price change is indeed my fault and not something I am just Irrationally worried about?
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 Posted 07/18/2019  7:13 pm  Show Profile   Bookmark this reply Add Gincoin43 to your friends list Get a Link to this Reply




Actually here's the 73d, my eBay store isn't linked and I have no intention of just posting it.

Edit: They are sideways because I took the pictures for eBay and It's easier for me to hold my phone vertically.
Edited by Gincoin43
07/18/2019 7:15 pm
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 Posted 07/18/2019  8:25 pm  Show Profile   Check westcoin's eBay Listings Bookmark this reply Add westcoin to your friends list Get a Link to this Reply
I've been doing okay on getting Ikes at the bank when ever they have any, putting them up on eBay at 3x face value and selling them fairly quickly, not high end coins by any means. I've been happy with that even after taking my fees out I'm still making $$$ so can't complain. I've also been seeing a lot of really nice looking old brown and blue packs sell for pretty cheap on eBay. Ike's don't seem to get the respect they should, not many people I"ve found that collect the die varieties, or go beyond a date mint mark set.
"Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013!
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 Posted 07/18/2019  9:05 pm  Show Profile   Bookmark this reply Add cladking to your friends list Get a Link to this Reply
I've been selling Ikes into the strength. Most rolls are $50 each or even higher. I just sold a bunch of '76 type I rolls for $80.

I'm holding back a couple dates expecting higher prices.

Buyers expect nice BU coins with no spotting and not overly scratched.
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 Posted 07/18/2019  9:08 pm  Show Profile   Bookmark this reply Add Gincoin43 to your friends list Get a Link to this Reply
Westcoin & cladking, thank you for your input.
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 Posted 07/18/2019  9:08 pm  Show Profile   Bookmark this reply Add jimbucks to your friends list Get a Link to this Reply
At that price, I would expect 40% silver and BU. OH, please stand on your head to read this post so it is upside down, I am too tired to spend 20 seconds to fix it.
Edited by jimbucks
07/18/2019 9:10 pm
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 Posted 07/18/2019  9:10 pm  Show Profile   Bookmark this reply Add Gincoin43 to your friends list Get a Link to this Reply
@jimbucks
Silver for the first and BU for the second correct?

Edit: wasn't thinking, at either of those prices I would want silver, though for the $50 roll it probably wouldn't be fair to expect it.
Edited by Gincoin43
07/19/2019 02:03 am
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 Posted 07/18/2019  11:38 pm  Show Profile   Bookmark this reply Add Greasy Fingers to your friends list Get a Link to this Reply
@ jimbucks..thank you..
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 Posted 07/19/2019  02:12 am  Show Profile   Bookmark this reply Add macmercury to your friends list Get a Link to this Reply
I'd a 09E, its giving me a headache!

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 Posted 07/19/2019  03:36 am  Show Profile   Bookmark this reply Add Gincoin43 to your friends list Get a Link to this Reply
Sorry?
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 Posted 07/19/2019  10:51 am  Show Profile   Bookmark this reply Add Big-Kingdom to your friends list Get a Link to this Reply
Gincoin43, to answer your question, yes, your undercutting, because you don't care what you get for it, hurts other sellers on ebay that are trying to make a living off of their sales, yours sell quick because it's cheap and theirs sit waiting for yours to be gone, if they get tired of waiting then they have to try to undercut you just to make a sale.
As long as you all are making money still it's not a big deal though really, but if you are undercutting removing all but the minimalist profit, or even taking a loss after listing fees and final fees and paypal fees (some people don't factor these things and wonder why they aren't making any money, it happens.) then you are hurting it for everyone, yourself included, and for what reason really? Just because you can and don't care if you make $5 or $200 off 100 ikes?

There comes a point in business with pricing where it just doesn't make sense to sell a product because the profit margin isn't worth the effort involved. you have the time and cost to go to banks and get the ikes, and if you sort or roll them, that time, then the time spent listing and shipping, and all that. Ideally you'd want to get enough profit off it to justify the time spent on it as compensation for your time and effort, but everyone is different.

What you are doing is good for the customers, they get what they want cheaply, maybe even cheaper than going out and hunting banks for Ikes themselves, but I don't know your selling prices, and how steeply you are undercutting other people.

It is something you are irrationally worried about though, you won't be doing it forever and the prices will be going back up unless the rest of the sellers followed your pricing to make a sale permanently but they will likely soon realize it just isn't worth their effort and time anymore and switch to something else to sell until you're done having your fun selling stuff that you don't care how much you get for it.
That's Ebay. People doing it for a living take it more seriously than you and are well aware of the undercutters that are out there and will lower their prices in order to make sales if there's profit to be made, or shift what they sell and let you have all the customers you can stand at rock bottom prices until you get bored or realize the money you make isn't worth the time and effort spent and then they will return doing what they were doing after you're gone.

Heck, if you're cheap enough, they might decide to buy as much as you can list and sell and put them up for sale after you are gone. That happens too if the price is right and cheap enough and they can make a profit. that might be also what's happening, dealers are buying your cheap stuff and putting it up for later sales after you're done depressing the market, and people not realizing this are lowering prices to follow you and make sales. a year from now, maybe those dealers make the bigger dollars and you guys busted your humps for the pennies.

it doesn't really matter which is why I say you are irrationally worried. markets shift, supply and demand, ect. ect. If you are happy with just a quarter of the profit (or even a tenth) of what you could get from an item for a quick sale, go ahead. the people doing ebay for a living and take it seriously like a business will figure out a work around and still make money.

Edited by Big-Kingdom
07/19/2019 10:53 am
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 Posted 07/19/2019  2:16 pm  Show Profile   Bookmark this reply Add Gincoin43 to your friends list Get a Link to this Reply
Thanks
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 Posted 07/20/2019  11:05 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
Sure wish people would post all photos right side up. I get tired of turning my Monitor over all the time.
I just gave my Grand daughter over 300 of those Ike dollars. Hope she saves them.
just carl
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 Posted 07/21/2019  12:17 pm  Show Profile   Bookmark this reply Add ericalynn13 to your friends list Get a Link to this Reply
I think the points a number of folks have made are really valid, some will buy and hold until you've exhausted your inventory etc.

I buy Ikes because I love the coin. I vaguely date hunt but I just love touching, flipping and playing with the coin. So bulk, loose lots are my cheapest way to enjoy them, my way.

Any sales, retail business etc is about supply and demand, if you have a bulk of inventory you don't want sell it!! The market will always correct.
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 Posted 07/21/2019  1:25 pm  Show Profile   Bookmark this reply Add Ballyhoo to your friends list Get a Link to this Reply
From a business stand point, you are doing the correct thing. Making a profit less than your competitor is still a profit. Obviously by the post you can live with the percentage comparative of the competition. As for adjusting the value in doing so? No. I see three types of buyers. One who hopes to resell them, maybe at a coin show or at their shop. A hoarder (aren't we all?). Or a collector hoping to start a set or find a few they need. Either way, it's a win for you and the hobby.
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 Posted 07/22/2019  4:06 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
I buy Ikes because I love the coin. I vaguely date hunt but I just love touching, flipping and playing with the coin. So bulk, loose lots are my cheapest way to enjoy them, my way.
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