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 Replies: 32 / Views: 3,555 |
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New Member
United States
42 Posts |
The e-catalog for Stacks Baltimore Auction later this month just came on-line. UNBELIEVABLE numbers of early silver dollars, Carson City double-eagles with low starting bids? Incredible. Is it a buyer's or seller's market?
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Bedrock of the Community
United States
10045 Posts |
my guess: buyers.  |
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Pillar of the Community
United States
1429 Posts |
Buyers for low end coins, sellers for high end. That is my experience
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New Member
United States
5 Posts |
Currently I think the high end market is a buyers market...
I have been offered several coins lately that 6 months ago were %25 more. I think if someone has the means to buy that stuff (50k+ stuff) There is money to be made if you buy and hold.
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Pillar of the Community
United Kingdom
1077 Posts |
It's always a seller's market for high end coins. Someone will always have the money available when those precious rare coins come up for sale.
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New Member
United States
5 Posts |
I agree... but even more so at the moment.
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Bedrock of the Community
United States
20753 Posts |
I really have no idea. I've been going to coin shows for a long, long time. Lately they are more crowded than ever. And the people are buying. I go to some coin shows so often many dealers know my name and what I want, need, could use, etc. Mind readers?
However, as one dealer told me he is shocked himself at the amount of money he is now making. He only does coin shows and is in the 6 figures/month now. He said he went to show in Texas and was completely bought out of Lincoln Cents. I've seen large bundles of cash, check books and credit cards being used. I used to see people trying to sell coins to dealers at these shows buy haven't seen much of that lately either.
I'm all confused. More and more of my friends and neighbors are being layed off from work. I know some that have been out of work for many months now. So just who the heck is buying all those coins.
AND the worst part is many dealers see those crowds and either do not lower their prices and some raise their prices and still people are buying.
From what I see if your a dealer, your making money.
If your a collector, your the ones making them rich.
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Valued Member
United States
462 Posts |
Just carl I do not think the issue is job loss or economic times. According to the Federal Reserve, in January, 2008, the US Money Supply (M2) was $7.463T and in January 2009, the US Money Supply was $8.2439T. Seasonally adjusted M1 is constructed by summing currency, traveler's checks, demand deposits, and OCDs, each seasonally adjusted separately. Seasonally adjusted M2 is constructed by summing savings deposits, small-denomination time deposits, and retail money funds, each seasonally adjusted separately, and adding this result to seasonally adjusted M1. In other words, this is actual money ON DEPOSIT, not equity in investments. So the question begs, where is all this money? It is in the proverbial mattress. People do NOT want to buy stocks, real estate, derivatives, or other types of investment vehicles. They are turning to tangible investments, coins, bullion and other items of value that they can keep in their home. Folks have been bailing out of the stock market for well over a year now, so they are cash heavy. To answer the original question, it is definitely a SELLER'S MARKET. The pawn shop here just sold a dozen junk ASE's for 24 bucks each, I offered him $15 each. A Buyer may find a gem of a deal here or there, but it is going to take research. Sellers are going to make cash, the only question is, how much will that cash be worth if you hold on to it and we see 10% inflation in 2010? You most likely will not see most folks working the High End Auctions, as they can be quite intimidating. But coin shows, coin shops, pawn shops and other smaller retailers should see a steady flow of clientele. It will be when these folks go to sell in five to ten years that they will receive a rude awakening.  |
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Pillar of the Community
United States
5318 Posts |
Hmm...if memory serves me correctly, I recall even the high-end auctions are seeing far less traffic and bids. Heritage's volume is not like it used to be. A friend, who's a local dealer told me his broker is now offering much less on high-end, key coins because the market has softened considerably--or so they say. Perhaps some with discretionary income will direct money towards bullion than shopping, but overall I think there's a Big Sell ensuing to stay solvent--but that's not investment advice, LOL. |
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Valued Member
United States
419 Posts |
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Valued Member
United States
402 Posts |
For me, It has been a buyers market.
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Pillar of the Community
United States
790 Posts |
My opinion: buyers market for low end coins as people trying to make their mortgage are dumping everything they ever got from their grandparents, Sellers market for higher end stuff as people need a "safer" investment.
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Pillar of the Community
United States
2335 Posts |
I think MtnCoinMan has a point. There are a lot of people that have pulled money completely out of any type of "regular" investment, & are now thinking that if they buy hard assets(coins,bullion,etc) they will be better off. Unfortunately, most of them pulled their money out AFTER suffering huge losses. On top of that, they are paying retail & will be selling at wholesale. Unless they are extremely lucky they will never overcome that disadvantage, & will probably lose money.
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Pillar of the Community
United States
5318 Posts |
Quote:
There are a lot of people that have pulled money completely out of any type of "regular" investment.  there...most people are smarter than to reward Wall St for what they see on their dividend statements. I won't assume to make any predictions here, and bullion may prove to be a more liquid place to park $ for now. I only suspect that "investment grade" coins might be harder to sell as money is directed elsewhere--based on what I've seen so far.  |
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Pillar of the Community
United Kingdom
1077 Posts |
So looking at the answers so far, it's a very mixed reaction. I still say if a very rare coin comes up, one of those once in a lifetimes it will go for oodles more than it sold for last time around.
People will always find money for their passions.
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Valued Member
United States
311 Posts |
Edited by PennehChaos
03/06/2009 7:38 pm
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Replies: 32 / Views: 3,555 |
Posted 03/04/2009 5:31 pm
