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NSW Lockdown Pushing Up Coin Prices?

 
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Author Previous TopicReplies: 10 / Views: 640Next Topic  
Pillar of the Community

Australia
852 Posts
 Posted 08/19/2021  5:14 pm Show Profile   Bookmark this topic Add David Graham to your friends list Get a Link to this Message
I was purchasing a fair few coins from a seller over the past few months. I was using the EBay sold search as a guide to price. I was winning about 80% of the bids. Since the NSW lockdown has begun that rate has dropped to about 20-30%. Bidders are going way above what I consider the coins with grade to be worth. Just last night I put a bid in for a dollar carded coin (from another seller) that has been selling for $10-15 over the last few months. It went for $18. Has anyone else noticed coin prices increasing since the NSW (and Vic) lockdowns started? I guess if Covid has pushed up house prices, why not coin prices.
Pillar of the Community
Australia
679 Posts
 Posted 08/19/2021  7:45 pm  Show Profile   Bookmark this reply Add Basil to your friends list Get a Link to this Reply
I think people have more time(obviously) to surf the Internet under lockdown so probably relating to more people bidding on Coins.
After saying that Ebay was always a roller coaster in selling or buying Coins/Notes/Stamps since I joined Ebay Oz. in 2000,you never know what Coin is going to be flavor of the Month.
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Australia
13850 Posts
 Posted 08/19/2021  10:03 pm  Show Profile   Bookmark this reply Add Sap to your friends list Get a Link to this Reply
It's been an observed trend since the start of the pandemic; prices of coins and similar collectables have increased across the board.

I'd put it down to people sitting at their computers with nothing to do (and/or no boss supervision to stop work-from-homers surfing the net during "work hours"). Many folks have lost their jobs during the pandemic and for them times are tough, but many others are now sitting around with piles of cash in their bank account and the "usual things" they'd spend it on (overseas or interstate holidays, going out for dinner, etc) are no longer options. Even the usual coin dealers and coin shops aren't available. So they buy things online.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
Bedrock of the Community
Australia
19088 Posts
 Posted 08/20/2021  12:44 am  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
Prices of just about anything is going up just now. That includes real estate prices and cars as well as coins. All of this is due to cheap loan rates across the World. Governments around the World have a real and present need to stimulate their economies and spend huge on welfare for those who have reduced incomes due to COVID-19.

Beware! a crash must come sooner or later. It may be worse than 2008.

Huge inflationary pressures are emerging as prices rise.
But there can be a silver lining to all of this, as you pay your mortgages and loans off with inflated money. That is how I paid my home off, during a high inflationary period of 10-13%, in only 7 years, on a single income. Just make sure that you are able to maintain a continuous income.

Back to numismatics:-
I have been actively collecting coins for most of my life, and the total value of my collection is probably valued at quite a few tens of $ thousands, but it doesn't worry me all that much if there is a huge rise or fall in the total value of my collection. My attitude in this regard is much more akin to that of a museum.
Pillar of the Community
Australia
781 Posts
 Posted 08/20/2021  7:50 pm  Show Profile   Bookmark this reply Add nealeffendi to your friends list Get a Link to this Reply
Like Sel said, inflation is driving up the prices (not value) of everything.
And by prices verses value it means the house price might have doubled but it is still only worth one house. If you sell it and buy a similar house elsewhere your doubled money will still only buy one house. The only winners are the agents raking in their commissions, local governments getting higher valuations to tax on and state governments with bigger stamp duties.
Back to coins: I have noticed when I bid that prices have gone way up that for example a common slabbed coin in MS64 is selling for a similar price to what I paid 2 years ago for MS65.
I'll bet for many their incomes have gone up, not down. Overheard on a worksite (construction) that one guy was stoked as his hours have been cut but with the $750 in free money the government is handing out he is making more doing less.
Pillar of the Community
Australia
679 Posts
 Posted 08/20/2021  8:07 pm  Show Profile   Bookmark this reply Add Basil to your friends list Get a Link to this Reply

Quote:
I'll bet for many their incomes have gone up, not down. Overheard on a worksite (construction) that one guy was stoked as his hours have been cut but with the $750 in free money the government is handing out he is making more doing less.


Yes,lots of winners and loosers this time around in Sydney.
Staff & Business's(in Sydney at least) made a motza during the first lock down with over generous Govt. handouts.

I haven't noticed huge swings on Oz. Ebay in Coins/Stamps at least,Silver/Gold was on a upwards trend well before Covid hit.

Bedrock of the Community
Australia
19088 Posts
 Posted 08/20/2021  9:56 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
I have been a consistent coin buyer for most of my life, spending something like $1,000 a year in current dollar terms.
Needless to say, there has been very substantial increase in value in current dollar terms. I am not particularly bothered if there has been a real increase or decrease in value against inflation.

If I have done well, it is because I have made full use of decades of experience to always buy well, with an eye always out for a good cherry pick in terms of current value at the time of purchase. That sort of motivation is not much different from any other coin collector. Collecting across the whole range of numismatics also makes cherry picks easier to find.

As far as lockdown is concerned, I have not made a single purchase for nearly a year, because I always like to closely examine each coin in hand that I may be interested in at the time of purchase. It is this sort of buying approach that makes a cherry pick easier to find. However, lockdown has completely stopped this method of buying lots of things, including coins.

Although I think that the lack of my presence in the numismatic marketplace will have zero downwards pressure on coin prices,
the increase in numbers of on-line coin buyers has increased demand, and thus prices.

During a CV-19 lockdown, it is much tougher for those coin business that maintain a bricks 'n mortar shop front presence. It is also harder for public coin auctioneers that have pre auction view days, where it is more difficult for probable coin buyers to pre view and examine closely in hand, what is coming up for auction.

The sooner the whole population reaches 90 % fully vaccinated, the better,
or there will be more deaths and hospitals remain under severe pressure.
Personal suffering and public cost is already enourmous.
Edited by sel_69l
08/21/2021 12:18 am
Pillar of the Community
Australia
852 Posts
 Posted 08/21/2021  5:14 pm  Show Profile   Bookmark this reply Add David Graham to your friends list Get a Link to this Reply

Quote:

As far as lockdown is concerned, I have not made a single purchase for nearly a year, because I always like to closely examine each coin in hand that I may be interested in at the time of purchase. It is this sort of buying approach that makes a cherry pick easier to find. However, lockdown has completely stopped this method of buying lots of things, including coins.

I think I missed the boat on that one. Only 3 coin shops on the north side of Brisbane that I'm aware of. One that I have briefly been to only opens M-F and shuts at around 4pm so that excludes me as a full time worker M-F. The other shop is a top end bullion/jewelers. I have purchased the odd PNC off EBay from them and collected from their shop. No bargain bins there. I think there is a shop in the CBD however I'm reluctant to go there because A) the cost of getting in to the city and B) I wouldn't expect bargains from a place that is paying top commercial rent. Online purchasing seems the only option for me. I can only imagine the joy of noodling bulk bins that others talk about.
Edited by David Graham
08/21/2021 5:14 pm
Pillar of the Community
Australia
781 Posts
 Posted 08/21/2021  10:13 pm  Show Profile   Bookmark this reply Add nealeffendi to your friends list Get a Link to this Reply
Sydney isn't much better for coin shops, a nice old style one at Padstow (and he has well picked over bulk bins that sometimes has something interesting) and often some nice pre decimals in the counter, a shop in Westfields Parramatta (high rent) that is mostly NCLT and overpriced ho-hum grade stuff and a handful in the CBD. Last time I got anything good from bulk bins was maybe 15 years ago when I.S Wright and Downies had nice stuff sometimes, a 1925 penny, a halfpenny brokage and a double nose queen were all nice pickups for 10 and 20 cents. Unless you are a wealthy retiree you are buying coins with money you make working and the shop opening hours are when most of us work.
Now nearly everything I buy is off the internet, this past month I've purchased from regional NSW, Qld, Vic, SA, WA, Texas, NZ and Switzerland. Sometimes buying this way gets duds (misleading photos to hide flaws and whatnot) but also some great variety and/or choice grade coins at a fraction of their worth.
Valued Member
Australia
128 Posts
 Posted 08/28/2021  01:04 am  Show Profile   Bookmark this reply Add serenitystan to your friends list Get a Link to this Reply
Auction houses are making a killing with their online live bidding for public auctions. Prior to that only pre- bids where accepted and in most cases some in the room would outbid you by 1 increment.
Valued Member
Australia
101 Posts
 Posted 09/28/2021  07:04 am  Show Profile   Bookmark this reply Add MachinMachinMan to your friends list Get a Link to this Reply
I used to get great bargains on ebay auctions.

Nowadays never!!!

Too many people are willing to pay too much money on almost everything, decent or not.
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