| Author |
Replies: 11 / Views: 2,212 |
|
|
Valued Member
Canada
495 Posts |
At a crossroads with which way to go if I decide to sell my collection, I'm thinking of using HA or TCNC sites for the good stuff or forget it and put it all away until we see market improvement which doesn't look promising in Canada at least.
|
|
|
|
Pillar of the Community
Canada
4227 Posts |
I'd get in touch with Geoffrey Bell Auctions. Their Toronto Coin Expo shows/sales seem to do well and they have the RCNA this year.
|
|
Bedrock of the Community
Canada
10743 Posts |
Yes, I agree Bell is the only way to go IMO
|
|
Pillar of the Community
Canada
2495 Posts |
I'm sorry to be blunt, but this is the ultimate worse time to be selling.
So many high end collections and huge quantities of coins have been on the market in the last 5 years. Couple this with the economic conditions and the dwindling collector base and it's a recipe for disaster.
I would only recommend selling now if you are in immediate financial need.
|
|
Pillar of the Community
 Canada
9864 Posts |
 100%
"Dipping" is not considered cleaning... -from PCGS website
|
|
Valued Member
 Canada
495 Posts |
@doubleeagle59 That seems to be the advice I am getting from other sources and am leaning toward that option. I'm not in need of a quick fix for money just trying to do some forward planning not an easy decision for sure but I have experienced all too often the quick disposal of lifetime of valuable collections by those looking for a quick buck. I find this very disturbing and can see the same scenario with my stuff if I don't act while I can still do the negotiating but your right, less and less buyers out there and will only get worse as the dollar shrinks. I'm not going to give anything I have acquired for next to nothing and may take it all with me 
|
|
Pillar of the Community
Canada
5324 Posts |
If the Empire auction of the 1921 ms 66 5 cents on went for around 60,000.00 just shows how poorly the marketplace is right now, because of the US dollar at this moment I would lean towards Heritage
|
|
Pillar of the Community
 Canada
5394 Posts |
Why put it in any coin auction? Unless the coins are really scarce and or high end you will get killed right now. Most of the stuff sold in auction these days ends up with a coin dealer. Take the Landon , Victoria North sale of February this year as an example . The room was filled with coin dealers. Canadian economy is very shaky right now due to many things. Amongst them a very strong bull run in the USD , declining commodity prices and world financial markets having very little faith in what THEY perceive is a rather economically challenged Ottawa government. One thing that might be the most prudent is sit on it for awhile as you said you do not need the money.
|
|
Pillar of the Community
Canada
4944 Posts |
Quote: because of the US dollar at this moment I would lean towards Heritage I'm not sure the value of macdon's collection however I believe Heritage has a minimum consignment value of $5,000. Just something to keep in mind.
|
|
Pillar of the Community
Canada
2495 Posts |
I've said this before and I believe it to be the only way the coin market rebounds and takes off is when the gold and silver price exceeds the highs of their prices back in 2011.
GOLD $1900 and SILVER $45. (CDN$$$)
This will restart the coin market engine again.
And I'm positive we'll get to these prices too. Although I couldn't tell you if it'll be 2 years or 20.
Edited by doubleeagle59 12/18/2015 3:29 pm
|
|
Pillar of the Community
Canada
3049 Posts |
doubleeagle: I think we're a very VERY far away from those prices....
As for the two auctions companies you mentioned... I'd go with HA
|
|
Pillar of the Community
Canada
1049 Posts |
At this point in time I would not sell. It's a reality of saving face, yes lol in both ways. I believe there is a propensity of the market changing as we get closer to the U.S. election, confidence will grow in the public sector although it may be short lived. So I would hold off for now and see how things are starting to shape up towards spring. This is based upon a good friend of mines advice, 2 rules.
1=always have your locked in amortization never exceed 4 years, and always be sure the date to renew is within no more than 2 months or even better 1 month, prior to the U.S. election, hence the best interest rate possible, (the existing party wants to be re-elected). 2=Follow the above golden rule.
Just saying is all. Best of luck in your decision Macdon
For those who don't get the message here, it's called a trickle effect, and yes Canada get's the tailing's in a very large way
Edited by M_d_in_guy 12/19/2015 12:20 pm
|
| |
Replies: 11 / Views: 2,212 |
|