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1876 20¢ ( Vs. PCGS )

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fortcollins's Avatar
United States
3659 Posts
 Posted 12/24/2020  11:02 pm  Show Profile   Bookmark this reply Add fortcollins to your friends list Get a Link to this Reply
Slab or no slab, the gouge details the coin. I hate to say this, but with that as a gouge, rather than discoloration, I'd be looking at it well south of $200 on a bourse floor. It lacks the eye appeal needed to flip the coin, and dealers have better options to choose from. It is a bit of a tough date, but IMHO that can't overcome its problems.
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United States
202 Posts
 Posted 12/25/2020  07:56 am  Show Profile   Bookmark this reply Add apcol258 to your friends list Get a Link to this Reply
The cheapest currently on ebay for this year in any condition is $600. Slabbed or not it should sell pretty easily there for near $300. Might be your best bet.
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panzaldi's Avatar
United States
18684 Posts
 Posted 12/25/2020  08:50 am  Show Profile   Bookmark this reply Add panzaldi to your friends list Get a Link to this Reply
i had it as details cleaned. I dont think it should have been slabbed as tooled which imo is worse off than a details designation.
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Heymikep's Avatar
United States
824 Posts
 Posted 12/25/2020  10:23 am  Show Profile   Bookmark this reply Add Heymikep to your friends list Get a Link to this Reply
I would say crack it out as well but do show as many pictures to show clearly the issue.


Quote:
The cheapest currently on ebay for this year in any condition is $600.

The cheapest for sale might be higher but if you look at the sold on ebay the cheapest sold recently was under $100.00 and a few under $300.00.
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Prethen's Avatar
United States
3234 Posts
 Posted 12/25/2020  10:32 am  Show Profile   Bookmark this reply Add Prethen to your friends list Get a Link to this Reply
If I were to sell on ebay then I wouldn't break it out. I'd prefer complete transparency and not deal with someone unsatisfied, thinking I was selling him something bad, and returning it.

If I shop it around a bourse floor I'd likely sell it raw since dealers can see it in hand.
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fortcollins's Avatar
United States
3659 Posts
 Posted 12/25/2020  12:40 pm  Show Profile   Bookmark this reply Add fortcollins to your friends list Get a Link to this Reply
I'm just one person, and this is my experience, but here is what I am seeing right now.

The coin market is in complete chaos. The only efficient market is ebay,and it's filled with junk. Coin shows aren't attracting mainstream collectors, because of COVID. Most of the bourse floor action today is dealer-to-dealer inventory adjustments, eye appeal purchases, and bullion speculators. Problem coins aren't moving anywhere near historic value, if at all. Eye appeal coins are selling, and right now eye appeal drives demand more than technical grade.

Almost all that I do right now is buyer-side agency, and my customers are being very selective. I have no interest in adding to inventory, because the buyers aren't there. I suspect many other dealers sense this same caution. The ones I have known for years from shows and deals openly say so.

Some of these changes may be long term. Brick-and-mortar shops may become a thing of the past. Overhead costs, security concerns, and rolling COVID restrictions may bring an end to this era. The existing public auction sites are too dependent on guesswork, weak policies, USPS delivery, and yes, more guesswork to function efficiently. Until something like the late, lamented Teletrade reappears, collectors will either have to risk the shark-infested waters of ebay or sit on the sidelines. (Disclosure: I do not buy or sell on ebay, and never will.) Coin shows are problematic, too. COVID risks, security issues, and travel costs aside, the selection of coins and lack of competition by buyers as well as sellers make shows an expensive gamble right now.

The marketplace is moving rapidly to online transactions. Again, there needs to be a collector-focused option like the old Teletrade. Without that, the market will continue to be the two extremes: high end coins from the big auction houses and attic junk sales on ebay. The middle market - the traditional collectors - will languish.

That's a very long rant, but my way of saying that it is better to hold the problem coins for now and hope better days return. Eye appeal coins will still sell.

Just my couple of cents worth.
Edited by fortcollins
12/25/2020 12:42 pm
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NumisEd's Avatar
United States
5191 Posts
 Posted 12/25/2020  1:08 pm  Show Profile   Bookmark this reply Add NumisEd to your friends list Get a Link to this Reply

Quote:
The coin market is in complete chaos. The only efficient market is ebay, and it's filled with junk. Coin shows aren't attracting mainstream collectors, because of COVID. Most of the bourse floor action today is dealer-to-dealer inventory adjustments, eye appeal purchases, and bullion speculators. Problem coins aren't moving anywhere near historic value, if at all. Eye appeal coins are selling, and right now eye appeal drives demand more than technical grade.

Almost all that I do right now is buyer-side agency, and my customers are being very selective. I have no interest in adding to inventory, because the buyers aren't there. I suspect many other dealers sense this same caution. The ones I have known for years from shows and deals openly say so.


I am not sure about the overall demand picture, but I am definitely in the market to buy quality, mid-grade coins.
The problem as I see it is supply. I went through thousands of ebay listings over the last couple of weeks and almost all listings are low quality (junk). Occasionally, you see a nice coin, and before you can make up your mind it has sold for well over greysheet.
Coin auctions at Heritage, Great Collection (GC), and Stacks Bowers (SB), are not super great either. For example, the amount of Details coins I have encountered on GC is enormous. The supply on SB is a trickle. Heritage seems to have the best offerings, but then again it is not like a whole lot.
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Prethen's Avatar
United States
3234 Posts
 Posted 12/26/2020  12:33 pm  Show Profile   Bookmark this reply Add Prethen to your friends list Get a Link to this Reply
FortCollins (and othes), I appreciate your perspectives. I will cautiously move forward with such sales once bourse floors open up. I have a lot of very nice coins (with a handful of some problem ones) that I will be selling over the next few years.
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