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Where Is The Market For Canadian Coins?

 
 
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Valued Member
Canada
93 Posts
 Posted 08/22/2019  01:38 am Show Profile   Bookmark this topic Add inconnu to your friends list Get a Link to this Message
There used to be a strong market for Canadian coins on Ebay, but the market is filled with BIN (buy it now) listings. The is some common material listed for auction but not much else. There was strong bidding for the Cooke collection and there were some good deals to be had if you were domiciled in the US. Steven Bromberg seems to be doing a brisk business on the Home Shopping Network and he seems to be the market maker for NCLT. I do not know how much business is conducted at the major coin shows as I reside in Victoria. My question is - where is the market for Canadian coins?
Pillar of the Community
Canada
985 Posts
 Posted 08/22/2019  02:21 am  Show Profile   Bookmark this reply Add purelywasted to your friends list Get a Link to this Reply
I think BIN is the result of a lack of a large active market and too much garbage being up for auction, it is hard to sift through it all.

We now have a virtual coin shop model where prices are posted as BIN and maybe you can negotiate, I know that I do. When I sell, it is usually BIN or auction with minimal acceptable price for me to sell it at,not sure if it is lack of bidders or only bargain hunters, but Most go unsold. I am a passive seller. Some sellers have great followers and regular customers and can do more regular business.

Cooke sale is an example of a "higher" quality collection (note quotation marks) with many uncommon items and will attract bids accordingly. Ebay is full of junk bin coins that clog up the listings and turns buyers off, in my opinion. At least it has for me. There are some good auctions, but they only happen every few months, but even the prices are not different than ebay, just a better currated sale offering.

Ebay does huge volume of lower end stuff and mid-grade, better/unique/rare stuff goes to the big auctions one to two times a year and the mid grade Au 50-Ms 64 goes through the torex/cnc/bell auctions at regular intervals. I am not sure about private sales, but that is probably a niche market and dont attend coin shoes (timing is never right).
Edited by purelywasted
08/22/2019 02:30 am
Valued Member
Canada
402 Posts
 Posted 08/22/2019  11:03 am  Show Profile   Bookmark this reply Add tamarin to your friends list Get a Link to this Reply
Do not give up on eBay. Yes, it's a large junk market but there are sellers who routinely come through with items you should at least investigate. BIN is a favorite hunting ground of mine and I peruse it many times per day and have for years. I love it when sellers also include Make an Offer. I don't buy from the big houses. I don't want to pay the extra costs and not being a fan of TPG material I don't like to support it. (It clearly has its place but that's another story.) And don't neglect fleamarkets. They're constantly denigrated and maybe the derision is deserved but they also house some spectacular finds if you'll just leave the house and grab a coffee and walk in. Pricing is soft everywhere now except on well attended and well monitored selling platforms. The hobby is struggling. But if you love coins there are wonderful hunting grounds still.
Pillar of the Community
Canada
1176 Posts
 Posted 08/22/2019  11:27 am  Show Profile   Check Pokermandude's eBay Listings Bookmark this reply Add Pokermandude to your friends list Get a Link to this Reply
Plenty of deals to be had at many venues. Just don't be greedy. I get many potential customers trying to get quality pieces and key dates at huge discounts. Not going to happen even in a soft market!
Bedrock of the Community
United States
16997 Posts
 Posted 08/22/2019  2:18 pm  Show Profile   Bookmark this reply Add moxking to your friends list Get a Link to this Reply
Common coins will always be common, regardless of county, type, or venue.

True auctions on eBay do extremely well for honestly scarce items in collectible grades.

If you see 50 of the "same" coin for sale, then check the sold prices and see only 3 sold, well below asking prices for BIN, you know it's most probably a Coin anyone can get at anytime.
Pillar of the Community
Canada
2240 Posts
 Posted 08/22/2019  11:48 pm  Show Profile   Check Wade's eBay Listings Bookmark this reply Add Wade to your friends list Get a Link to this Reply
good material sells for good prices,
crap material sells for crap prices.

people make be claiming that the sky is falling but top coins are still fetching top dollar.

moral of the story, concentrate on the highest quality you can afford.
Pillar of the Community
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United States
839 Posts
 Posted 08/23/2019  9:51 pm  Show Profile   Bookmark this reply Add fortcollins to your friends list Get a Link to this Reply
The market is soft. Based on what I see with local shows and online transactions, there are several possible reasons for this.

First, the hobby is not attracting enough new collectors, and demand is slowly softening.

Second, unsettled TPG grading standards are producing overgraded slabbed coins, and the market is adjusting prices downward to match median actual grades. This price deflation is hurting correctly graded coins, as well as the growing supply of overgraded coins.

Third, market saturation from endless NCLT products is hurting the sales of classic collectible coinage.

Fourth, infiltration of every market by counterfeits is shaking confidence in sales, particularly online sales.

Fifth, rising taxation of sales and rising shipping costs are squeezing dealers and buyers alike.
Valued Member
Canada
93 Posts
 Posted 08/23/2019  11:47 pm  Show Profile   Bookmark this reply Add inconnu to your friends list Get a Link to this Reply
FortCollins,I agree with everything that you said. I was disappointed that the auction for the 1911 Silver Dollar did not get a mention anywhere in the press. Imagine a coin that could have sold for $1,000,00, there was a good story there but nothing appeared. It could have brought some good PR for the hobby on both sides of the border. There is quite lot of $$$ being spent on NCLT that is impacting the marketplace. Say what you will about Steven Bromberg, the guy knows how to market product and is very skilled at packaging. Perhaps we should learn from his approach because the way we're doing it now isn't getting us anywhere.
Valued Member
Canada
402 Posts
 Posted 08/24/2019  08:52 am  Show Profile   Bookmark this reply Add tamarin to your friends list Get a Link to this Reply
NCLT. Most people just recognize them as novelty coins. Mints world-wide are pumping them out. Their secondary market is weak and many a novelty coin purchaser is in for a tough lesson in market mechanics. Their sale definitely impacts the collector coin market and their after market weakness dampens public interest and enthusiasm in numismatics in general.
Pillar of the Community
Learn More...
United States
839 Posts
 Posted 08/24/2019  12:59 pm  Show Profile   Bookmark this reply Add fortcollins to your friends list Get a Link to this Reply


The irony of NCLT overload is that most NCLT attempts to commemorate, but ends up obscuring. The latest event or idea depicted on NCLT is quickly forgotten, swamped by the flood of the next big overproduced thing released by the mint.

The circulating coinage, however, much more effectively commemorates, communicates, and educates. The profound symbolism of Kruger-Gray's one cent design captured the essence of a nation and educated the world about the uniqueness of Canada.
Valued Member
Canada
103 Posts
 Posted 09/12/2019  10:21 pm  Show Profile   Bookmark this reply Add CalmBud to your friends list Get a Link to this Reply
very useful. thank you
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