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Replies: 17 / Views: 4,224 |
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Valued Member
Canada
495 Posts |
If I was a dealer/seller of this vast collection of valuable coins I would sell them in a controlled release and not all at once-------what do you think?
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Pillar of the Community
 Canada
5394 Posts |
I tend to agree macdon with what you are saying. However the instructions from the seller may be to sell it all at once. Thus the auctioneers , in this case the combined efforts of Chuck Moore and Canadian Coin and Currency have their hands tied and must follow the instructions of the consignor. I for one don't think this sale is going to be a market or game changer. The economy is in a wait and see attitude in Canada due to a rapidly depreciating CAD and falling OIL PRICES. Sure there are going to be some rare coins sold for great prices, but there could be some real bargains as well. Looking forward to the sale.
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Pillar of the Community
Canada
3049 Posts |
I know one dealer who is hoping to buy a LOT of material from this auction... I know that this dealer has the patience and resources to sit and hold onto items until they sell at their listed price...
If that's the case and like minded dealers get a hold of most of the items then prices will not be affected that much... Conversely because many items NEED to be keystoned with a certain margin for profit... if the lots are a lot of individual coins collectors will have a shot at getting these items or eventually prices will improve so dealers will realize their profit margins from the prices they pay.
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Pillar of the Community
Canada
1051 Posts |
From a business perspective, if I were the auctioneer I would try to sell everything at once. One time cataloging of items, one sale, everything concluded and everyone paid in short order.
I suspect collectors will find a lot of competing interest from dealers at the auction, which should nullify the price suppressing effect of moving a lot of material directly from the hands of the auctioneer to the hands of collectors.
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Pillar of the Community
 Canada
5585 Posts |
I don't think that it will affect top-end prices much at all; likewise higher grade stuff as people will try to upgrade their own collections. It is the midgrade stuff that will be lowered as people get rid of their own coins while upgrading. Chuck Moore does not want to dump everything at once and I think that some of the dealers are concerning because of their current holdings.
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Valued Member
 Canada
495 Posts |
Interesting perspectives. I cant wait to see the after effect of all this hype. I wonder if there will be a lot of bids from the USA side of the border they will have more buying power with the difference in our dollar.
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Pillar of the Community
Canada
1505 Posts |
Too much "Hoola Hoop" is made of this sale. Smart promotion. look at the players.  all will be sold in one auction.... and soon forgotten, just simply sometimes remembered. think about it for a bit. Buyers who have the $ and want a coin, they simply buy it. Remember they always had their money and could do that.  Dealers are sitting on big profits coming from the bullion market and most are fairly liquid. they will buy into the upper mid market because it sells easy after a while and is better than having bucks in the bank and less risk than buying metals. end effect ? absolutely NO ripple effect from low to mid market. And, a lot more demand at the high end as everyone with money to play and was sitting on the sidelines waiting for a chance will now compete for one. Just the one they want. Remember the "found again" gold coins? did it effect the market? NO. AND, you can bet your last dollar that Bromberg has his pockets filled (by privilege)already and will have some series of super coins in a TV auction very soon. Just another simple question: would Heritage be in a position to do a better job? just thinking where I would go if it was mine to sell   It will be interesting to see the results 
Edited by 47P7 01/07/2015 09:59 am
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Valued Member
Canada
414 Posts |
Quote: Dealers are sitting on big profits coming from the bullion market  Not sure where you're getting your information.
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Pillar of the Community
Canada
1505 Posts |
u can always say it is not true. information I have from a dealer is that he did extraordinarily well in that market in the last 2 years. I am only suspecting that most, if not all are in the same position. Maybe I should have said considerable profits instead of big?
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Pillar of the Community
United States
4233 Posts |
Quote: I wonder if there will be a lot of bids from the USA Unless you follow this forum or are in the know, I doubt it. The only google hits on "landon collection" point back here. Search cdncoin or canadiancoinnews for "landon" and get 0 results. I'm not sure how they're going to get many bidders from USA.
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Pillar of the Community
Canada
627 Posts |
I'm sure there will be plenty of U.S. bidders. You don't think Chuck Moore and Canadian Coin have a ton of US customers and contacts? Once things are ready, there should be lots of promotions.
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Pillar of the Community
 Canada
5394 Posts |
Anyone who says they did well from the gold and silver market in the last TWO years is either crazy, or has no clue how to run a business as to reading a P and L statement or is the most incredible FUTURES trader the world has ever seen ! One of the biggest problems in the past two years is that people are just plain NOT selling ; especially their silver. Also a dealer does not get rich on bullion sales, especially in a bear market. As to the OP original topic on The Landon sale, we have to keep everything in perspective. Like any other major auction ( for Canada this is a big auction!) some stuff is going to go for stupid money to collectors who MUST have a finest known or an upgrade. Then there are going to be dealers buying coins for stock. Dealers buying for stock are sure not going to pay anywhere near trends ,they have to pay wholesale. Even though we currently have cheap money floating around due to very low historical interest rates, dealers are NOT going to tie up incredible amounts of cash for a long period of time to have a museum of Large Cents. Having run a retail coin shop for years, the bills keep coming and the employees need to be paid as does the tax man. Then there will be the usual " auction bottom feeders" those looking for a screaming rip, and moaning that "oh those were strong prices". This auction will serve one purpose though , we will see what direction the Canadian coin market will take. My bet is little change!
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Pillar of the Community
Taiwan
606 Posts |
Nice report Pacificoin. Good to hear from someone who is in the trenches.
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Pillar of the Community
Canada
1505 Posts |
Pacific you are always using your past retail business as an example. remember, there are dealers who's expectation of profits differ from yours and who perhaps have different business approaches and situations than you have or had. The dealer I spoke with is very happy with his bullion sales and purchases. Just called him again and asked him again.
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Valued Member
 Canada
495 Posts |
Thanks for sharing ideas it looks like it is going to be a duster and after they pass there is always s a ray of sunshine and a smattering of blue sky to look forward to and as Shakespeare said " Much ado about nothing me thinks Martha"
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Pillar of the Community
 Canada
5394 Posts |
@47P7......... And I will always reflect on my experiences as a dealer if it helps even one person on this forum become a better numismatist. Expectations of profit are pretty much the same in any business," if you don't have any profit , you can expect to be gone very quickly !" To wit, coin shops and dealers are disappearing at a very fast pace if one cares to be in the loop. As to the dealer and his bullion sales well most of us are pretty good at math and economics. Even if you sell a thousand silver maples a week that won't keep the doors open in a bear bullion market. I will guarantee you there are very, very few happy bullion dealers in the trade at present. People selling numismatic coins on the other hand seem to be doing quite well, as the collectors seem to be buying, albeit at a reduced rate. The exception seems to be the middle of the road coins, that languish in dealers cases at shows and shops. Quality pieces especially better US coins have no trouble finding a new home. Also junky coins such as piles of large cents and the like are also selling very well. Yes 47 these observations do come from me being a coin dealer. They are recent and come from the trenches. Could be the many coin shows I have attended in the past few months as well the many markets we do, our numerous ebay and website sales , or maybe the dealers I talk to on a daily basis. Not to get derailed from the op topic and the Landon sale is anyone here on the forum 1) getting a catalogue? 2) attending the auction? 3)Bidding online ? 4) Going to Torex and attending the auction as well? 5) Could care less about the Sale? 6)Spending money on bullion?
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Replies: 17 / Views: 4,224 |