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 Replies: 17 / Views: 2,722 |
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Valued Member
United States
153 Posts |
So I have purchased a bunch of new coins for my 7070 type set (mostly upgrades.) After all these coins arrive, there will still be one slot left for a Liberty Seated quarter - but I have my eye on this one coin ready to snipe Sunday night. I am also excited about owning my first Carson City issue. Any coin with that designation seems like an interesting piece of history. The issue for me is the mounting cost of completing this set. While I love most of the coins in the set, and have learned so much about their history along the way, 6-7K is a lot for me. I guess that is what it costs in today's market to put together this tremendous set of 77 coins in decent condition. Unfortunately, I am out of work, and am in the process of selling some uncertified quarter eagle gold pieces to help pay for it. I brought in one really nice coin that I picked off ebay for $270 to Stacks in NYC, and they submitted it for grading saying that it might be worth $2000 (hopefully it does not get a genuine for some reason.) I know that this set is a decent store of value, but my fear is that I may lose a lot of its value selling it at say, a coin show. Containing so many coins, it simply does not have the liquidity of say, one damaged Early Eagle of 1801 that I could have perhaps bought for the same price. I have a feeling that a few of the coins (that I paid $200 or even $300+) are worth submitting for grading. But that does seem like a gamble @ $40 per coin that it will not come back as desired. How do you usually go about liquidating such a set? Should I keep it and buy some other rarer types on a credit card? :) Is the market for Carson City coins healthy and growing? Gold? I have a few ideas what I'd like to collect after I have some more spending money available but would like to make a good investment that is very liquid in the future. |
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Valued Member
United States
79 Posts |
Quote:
I am also excited about owning my first Carson City issue. I almost got my first Carson City issued coin today, but it was so darned worn I just backed off and picked up a VF 1894 O instead for a decent price. It won't be much longer though, I have that "urge" now to pick up a CC...I just want to be able to see the well-defined lines though. |
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Valued Member
United States
419 Posts |
First of all, not to sound rude, bt if you are struggling finacially, why are you buying $300 coins? I would not put it on a credit card, trust me. Take care of bills first, coins later. The best thing to do is put a little bit of extra money aside, and when you have enough, fill another hole :) Just my Two Cents.... |
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Valued Member
 United States
153 Posts |
Hey Helzels, thanks for the concern. I'm not in dire straights or anything due to my coin habit, but it cost somewhat more than what I anticipated to complete it in the grade that I wanted it in. By the way, I see that you have an online store selling very cheap coins. After I tally up the Listing and Final Value Fees from ebay, I could buy my own domain and do what you are doing. How hard is that to setup? What payment processor do you use and are there fees related to that? |
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Moderator
 United States
23522 Posts |
Quote:After I tally up the Listing and Final Value Fees from ebay, I could buy my own domain and do what you are doing. How hard is that to setup? What payment processor do you use and are there fees related to that? ebay gets 0.4% of the total webpages viewed on the entire Internet. There's a reason why everyone, however reluctant, tends to recommend ebay as an outlet. Building your website is easy, and your overhead will be drastically lowered. But who's going to know you did it? I strongly advise you to hold for the moment, probably over the winter, if you're looking to liquidate at decent retail. The market is seriously depressed. I've been selling on ebay for a decade, and have never taken the drubbing that I have in the last couple of months. I've lost a bunch of money. Idle note: Google, the #1 website, gets 7% of all Internet pageviews, and on an average day 45% of those who are online visit the site. That's silly. Even sillier, Facebook is a very close (right of the decimal) second.  |
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Pillar of the Community
United States
3843 Posts |
My observations Purchasing coins and re-selling in a short time frame usually results in a loss unless you have an exceptional eye for quality, superior knowledge of the market, and a way to liquidate your holdings for top dollar. Although mark-ups in coin collecting are much smaller than many other collectibles, they are however still significant and you must overcome these just to get the money you paid out of the item and break even. Personally I plan to hold the items I purchase long term so that they might appreciate enough so that when I go to sell I will make some money hopefully. The conventional wisdom is that on the average coin if you hold it five years it should increase in value enough for you to break even when selling. Of course there are going to be some series (& coins) that net a significant profit while others will lose money due to market fluctuations. If you really need the money then I think that ebay is your best bet and that under no circumstances should you try to sell the set whole. The coins will likely do better sold individually since not many collectors have the cash to purchase a type set whole. |
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Pillar of the Community
United States
3184 Posts |
You should have bought slabbed vs raw. You may lose money when you sell as the coins are raw and depending on the buyer, they may pay less or sometimes more depending on what condition they think your coin is. You should just hold this for the long term for your family, not complete it and then sell it so quickly.
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Pillar of the Community
United States
3184 Posts |
sell the coins here when you are going to liquidate, free and will appeal to those that want raw
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Pillar of the Community
Sweden
729 Posts |
Sorry for sniping your thread here coins4fun... Quote:I strongly advise you to hold for the moment, probably over the winter, if you're looking to liquidate at decent retail. The market is seriously depressed. I've been selling on ebay for a decade, and have never taken the drubbing that I have in the last couple of months. I've lost a bunch of money. SsuperDdave, when you say the market is depressed, do you think that applies to the whole value spectra of the coin market? All the way from low cost coin all the way up to $10,000+ coins? I would think that if a person can afford to buy a really expensive coin, he/she could do it no matter what the economy is like, the market being in a slump or not... Why I ask is beecause I have a rather high valued coin (for me at least) up for sale at the Heritage Auction in Orlando in January...But if the market for those high end coins are bad right now, I might tell them to hold on to it for a while... Edited by epikur
11/16/2012 04:25 am
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Moderator
United States
23522 Posts |
I was referring to Ebay-level stuff; Heritage seems to be far less affected as per your thought process.
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Pillar of the Community
Sweden
729 Posts |
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Valued Member
United States
79 Posts |
When the market is depressed, it is the best time to buy. When the market is inflated, it's the best time to sell. I've been seeing some good deals out there, so personally I'm more in the buying mode than the selling mode.
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Bedrock of the Community
13014 Posts |
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When the market is depressed, it is the best time to buy.  The big problem is with the economy the market will be depressed for quite some time more than likely and maybe even years. If the suppressed price is fairly close I would go ahead an sell anyway now if possible. What I mean is if its down from 80 to 50 sitting on it a year for 30 bucks doesn't make a ton of sense, but if its down from say 2000 to 800-900 then itd be worth the wait |
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Pillar of the Community
United States
919 Posts |
I have to find some of these depressed coins. I have been looking at a lot of MS67 CAC Walking Liberty halves and the ones that are nice don't seem to be coming down. Most are listed and sell at or above guide prices. Maybe it is just my luck. I'm also hoping for some depressed Standing Liberty quarters prices soon. |
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Bedrock of the Community
13014 Posts |
Quote: I have been looking at a lot of MS67 CAC Walking Liberty halves and the ones that are nice don't seem to be coming down. Most are listed and sell at or above guide prices. Remember though the guides get updated. I checked heritage for MS67 1942 walking liberties and they seem to be selling around 800 now, but if you look back to 2005 when everything was great they were selling around 1500 so they are depressed at the moment compared to where they were a few years ago |
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Pillar of the Community
United States
919 Posts |
Thanks. That makes sense. I think I was looking back only 3-4 years and thought things were still level. Just went to the NGC price guide and I see your point. I had not used the all tab of the price history page. Now I see the big drop from 2005 to now.
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Replies: 17 / Views: 2,722 |
Posted 11/16/2012 12:38 am
