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Down Right Foolishness

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 Posted 05/04/2021  2:21 pm Show Profile   Bookmark this topic Add Ballyhoo to your friends list Get a Link to this Message
Has anyone been looking closely at the West Point quarter bidding/selling prices lately? A PCGS MS65, Marsh-Billings is currently at $115.00 with 11 bids. Now, if they would have bothered with a little research, PCGS shows 424 in that grade and 234 higher, of which 208 are in MS66. If you look at the totals in MS65, Somoa- 1742, Weir- 1184, Salt-985 and Tallgrass- 487 a pattern emerges. Why in God's name are people so eager to drop such ridiculous amounts on a mid-grade coin that in a short time will be trading for $30-40?

I used MS65 because that's the grade I'm putting together. I picked up last year's coins for between $19 and $28, plus two of this year for under $30 before the lunacy came out of no where.

Thoughts on the madness?
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Edited by Ballyhoo
05/04/2021 2:32 pm
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 Posted 05/04/2021  2:41 pm  Show Profile   Bookmark this reply Add ijn1944 to your friends list Get a Link to this Reply
Why do people behave the way they do? Age old question. Just look at the prices paid for sports trading cards and Pokemon cards the last several moths--astronomical. Many Target stores are severely limiting sales of of trading cards to customers--people are lining up outside stores hours before opening. Google 'sports trading cards target'.

Wonder if any of our members here have sold W quarters on ebay? Perhaps they could weigh-in on the money they're making.
Edited by ijn1944
05/04/2021 2:41 pm
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 Posted 05/04/2021  2:54 pm  Show Profile   Bookmark this reply Add Rothery to your friends list Get a Link to this Reply
People don't read/research anymore - they watch videos from YouTube, Facebook, etc... and think it's true then follow the trend. Have you seen how many "$2000 W Quarters in pocket change" videos are just in a simple Youtube search?
Kinda like how many people still have a closet full of toilet paper from last year.
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 Posted 05/04/2021  3:14 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
Kinda like how many people still have a closet full of toilet paper from last year.
Not this house.

But point taken.
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 Posted 05/04/2021  3:14 pm  Show Profile   Bookmark this reply Add Numisma to your friends list Get a Link to this Reply
It honestly amazes me that people would pay more than ten bucks for the things. As far as I'm concerned, they're just normal coins made artificially rare to attract attention. There are many legitimate, historically interesting rarities that money could be spent on instead.
That's not to say I wouldn't sell one if I found it.


Quote:
People don't read/research anymore - they watch videos from YouTube, Facebook, etc... and think it's true then follow the trend.

Absolutely. It's a serious problem that goes far beyond the world of numismatics. Nowadays, you can just decide what you want to hear and block out everything else.
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 Posted 05/04/2021  3:44 pm  Show Profile   Check Tanman2001's eBay Listings Bookmark this reply Add Tanman2001 to your friends list Get a Link to this Reply
If you think the value is going to drop, maybe you should sell!
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 Posted 05/04/2021  4:33 pm  Show Profile   Bookmark this reply Add Raised on rock to your friends list Get a Link to this Reply
Many individuals received a lot of free money lately. I spent mine on coins and other collectibles.
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 Posted 05/04/2021  8:12 pm  Show Profile   Bookmark this reply Add T-BOP to your friends list Get a Link to this Reply

Quote:
Kinda like how many people still have a closet full of toilet paper from last year.

Ahh, excuse me !
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 Posted 05/05/2021  2:22 pm  Show Profile   Bookmark this reply Add MrPink2018 to your friends list Get a Link to this Reply
@Ballyhoo-

i concur with your thoughts, as well as the thoughts of everyone else who's posted.

hype, demand & people's need to have it NOW no matter the cost. it's probably a little more intense now cos of the covid repercussions.. you know, people have been locked-down, locked-up & have endured severely restricted lifestyles, everyone just wants to get back to pre-covid lifestyles, and they want to be able to just go out & shop & spend. I suspect a lotta covid-induced foggy thinking, as well (by that I mean the mania, not anyone having the illness). I haven't bought a W quarter yet & won't, ever, but that's just me. I prefer to find them in the wild. that's the fun part of it: finding one. I don't think so dearly of them to buy them, graded or otherwise. simply finding them is the fun part. I don't & won't collect them, just finding them is cool enough for me. I've found a couple nice ones & I'm satisfied. I've found a few more & gave them away. if I never find another, so what. my search-monster impulse has been satiated & I can move on to other things I find more interesting. but, like I said, I concur with your thoughts about it. it is registering on the insane side, lol...

my Two Cents, fwiw.
Edited by MrPink2018
05/05/2021 2:24 pm
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 Posted 05/05/2021  2:43 pm  Show Profile   Bookmark this reply Add keith12 to your friends list Get a Link to this Reply

Quote:
Kinda like how many people still have a closet full of toilet paper from last year.

At least that will come in handy
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 Posted 05/05/2021  2:45 pm  Show Profile   Bookmark this reply Add Ballyhoo to your friends list Get a Link to this Reply
I like to see the humor posted here on the subject. You have to laugh. I'd say the vast majority buying those, in the mid-grades, are not registry set builders but young people thinking they are "rare". Which they are not. I've found them on occasion in change, buying them so I have an example which is not beat up from circulation. As to the toilet paper hoarders, I'm glad it's over. I almost ran out of t-shirts.
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There's no problem only solutions - the late, great John Lennon
Edited by Ballyhoo
05/05/2021 2:48 pm
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 Posted 05/05/2021  3:16 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
As to the toilet paper hoarders, I'm glad it's over. I almost ran out of t-shirts.
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 Posted 05/05/2021  4:25 pm  Show Profile   Bookmark this reply Add HumblePie to your friends list Get a Link to this Reply
I was able to purchase from my LCS, five of the 2020 W V75 American Samao (Bat) Quarters, all Graded MS66 in the NGC Early Release slab, with the red V-Day on the Holder. I bought them about 6 months ago or so, at an average of $28/$29 per. I felt that was too good of a deal to pass up at that Grade. I also liked the NGC holder with the red V-Day, over the other options NGC had.

Does anyone think these W Quarters will ever make it in the Red Book?


Edited by HumblePie
05/05/2021 4:39 pm
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 Posted 05/05/2021  4:29 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
Does anyone think these W Quarters will ever make it in the Red Book?
I think they would have to eventually.
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 Posted 05/06/2021  12:13 pm  Show Profile   Bookmark this reply Add Big-Kingdom to your friends list Get a Link to this Reply
Opinions opinions,

first 5 came out in 2019, 2nd 5 came out in 2020. now it's over. people looked, people hunted, people tried to get nice examples from change, now they want to complete their sets they worked on and willing to I guess bid up each other for graded examples to have a well rounded complete set to set aside.

Plenty folks said "gonna be worth $5 each or less soon enough" in 2019, plenty folks said the same thing again in 2020, and even in 2021, plenty folks still saying "are they crazy? why are they spending so much for these?"

I'm going to assume you are talking about this one, it sold recently for $152.51.
https://www.ebay.com/itm/184796892153

Look in march there were a decent amount for sale on Ebay, and they were selling $30-$50, in April, there were 8 sold, none, by auction and instead by BIN. nothing lower than $56 and most going for around $100.

come may now, theres been 6 sold so far, only that one by auction, and likley all selling for $70 or higher. there's just 5 of them listed now, two are auctions, both are at least $55 with days to go still, and the other 3 listed are priced at $199, $199, and $299.

supply and demand, and the gotta have it now mentality of instant gratification. maybe there are a lot of them out there in that grade, but apparently there isn't currently a lot for sale and these bidders don't want to wait.

And I checked, the online sellers outside of ebay have NGC or ANACS. not priced so high though, but I'm thinking that possibly theres a PCGS W quarter and V75 registry set thing going on also here that's playing a factor. oh yeah stupid me, theres the "quarter quest' registry sets for each year.

Now I'm not saying they aren't crazy, just saying this trend you saw is fitting the market for them and the available "for sale" supply of them currently.


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 Posted 05/06/2021  1:58 pm  Show Profile   Check yellow88's eBay Listings Bookmark this reply Add yellow88 to your friends list Get a Link to this Reply
The words or lexicon used to define this behavior, and its associated attributes, change depending on the time and place but the core element has remained the same since day one. That one constant is simply human nature. There's nothing new under the sun.
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