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 Replies: 18 / Views: 3,318 |
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Pillar of the Community
United States
4233 Posts |
The current Heritage world coins auction has 5 1948 MS dollars - 3 MS63, 1 MS 62, 1 MS61. It made me curious as to the wisdom of "flooding the market" like that. I suppose it might be one seller who just wants to cash out. Is there enough demand that they'll all sell at a decent price, or are they hurting themselves?
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Pillar of the Community
Canada
3049 Posts |
I have felt that if you wanted a '48 you could always find one ... you just needed the scheckels to buy it!
With 5 being offered my guess is that the buyers are going to get the better part of this deal.
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Pillar of the Community
 Canada
5584 Posts |
You can go to any coin show in a good metropolitan area up here and find your choices of 1848's and you can try to strike a deal with a dealer. If he's had it a long time (an d I'm sure he has) he might part with it reasonable. As soon as these came out in '48 and it was known the mintage was miniscule, people hoarded them away. Many many are found now 60 and above ... it's buyer's market for an overpriced coin that's easy to find.
Heritage (or any auction house) should have counseled the owner that it was not a wise decision to put them all out there... maybe someone owned a roll of them. I actually may have heard a rumor a year or two ago about someone who had a bunch, but my memory is fuzzy/foggy. Who knows?
Edited by okiecoiner
03/10/2017 1:25 pm
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Pillar of the Community
 United States
4233 Posts |
There's probably really nothing new to discuss here, I'm just questioning the wisdom of an auction house putting up so many at once.
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Pillar of the Community
Canada
5324 Posts |
There is always a market for key date coins, but in this case with many to choose from only the best graded version will receive top bids while the other will suffer.
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Pillar of the Community
Canada
2845 Posts |
It hope it's not an indicator to the health of the hobby if the auction of five MS key dates have the potential to flood the market. There's 35 million of us here in Canada and 125 million neighbours who's $1000 buys appx $1340 of our lowly loonie.
It's possible higher end coins are marketed with US buyers in mind.
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Pillar of the Community
Canada
9862 Posts |
Why only 125 million ?
What about the other 200 million?
"Dipping" is not considered cleaning...
-from PCGS website
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Pillar of the Community
Canada
849 Posts |
Quote:
Why only 125 million ?
What about the other 200 million I'm guessing that not all USA citizens collect Canadian coins! |
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Pillar of the Community
Canada
2845 Posts |
Quote:
Why only 125 million ?
What about the other 200 million?
Thank you 325, them too! |
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Pillar of the Community
Canada
2845 Posts |
Quote:
I'm guessing that not all USA citizens collect Canadian coins!
You got it!  |
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Pillar of the Community
Canada
9862 Posts |
Darn!
I hoped it was a political statement.
"Dipping" is not considered cleaning...
-from PCGS website
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Pillar of the Community
Canada
2984 Posts |
The low Canadian dollar + auction fees + possible taxes/fees is going to dissuade a lot of Canadian bidders.
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Pillar of the Community
 Canada
5392 Posts |
Looked at a set of Canadian Dollars at the ANA National Money Show in Orlando today complete from 1935 to 1967 and the 1971 to 1980 Cased Dollars housed in a Dansco. In other words a RAW set. So I ask " How Much? " .........$ 5200.00 US firm or just under 7000 Canadian Pesos. Admittedly a nice set the 1945 was a 63 the 1946 a 63 the three 47 coins were 62 63 ( BL) 62 ( ML), the 48 was a decent MS60 . Politely handed it back and said Good Luck. Anyone who buys that @ $ 5200 US is , quite politely .....very foolish. Edited by Pacificoin
03/10/2017 6:07 pm
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Pillar of the Community
United States
4233 Posts |
Pacificoin, for fun I added up 1935-1967 according to J&M "trend" values and got $4744 US. I used MS63 for everything except what you specified. Of course that would be thousands off if any of the others were MS65. 1956 for example is $US60 in MS63 and $US3000 in MS65.  Maybe your Orlando dealer is pretending $CAN trends are the same as $US. I've seen that before. I'm watching the 5 1948s so I might post what they end up selling for. |
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Pillar of the Community
United States
4233 Posts |
Well, I was wrong. They're all currently in the US$1300-2000 range (with BP), 3-6 bidders and 11 days left. Looks like they'll all get solid prices.
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Pillar of the Community
Canada
849 Posts |
Quote:
From okiecoiner: it's buyer's market for an overpriced coin that's easy to find. I have tracked ebay auction prices on '48 graded dollars (like ICCS, NGC, PCGS) for three and a half years. In condition ranging from AU50 to MS63, the 1948 silver dollar has sold for an average of 91% of Trends, including shipping and taxes if applicable. Having to pay 91% of Trends, in my mind, is not a buyer's market. Paying 60% of Trends would be. The coin is easy to find, one might think it is overpriced, but my findings show it is not a buyer's market when you have to pay close to Trends to get it. Edited by punman
03/27/2017 7:08 pm
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Replies: 18 / Views: 3,318 |
Posted 03/10/2017 12:28 pm
