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 Replies: 18 / Views: 1,846 |
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Pillar of the Community
 United States
6455 Posts |
I am trying to wrap my head around something. Looking around ebay, I see many rolls of circulated coins selling for far above face value. For example, nickels. People are selling $2 FV rolls of 1950s nickels, 1940s nickels, specific years like 1958 nickels for $10-15. Most of the offers say "typical circulated condition", which I assume means anything short of a lawnmower coin goes into the roll. Do people actually buy that stuff? Or are those fantasy asking prices, never to meet a real buyer? |
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Bedrock of the Community
 United States
24927 Posts |
If no one was buying them, there would not be so many for sale.
Inordinately fascinated by bits of metal with strange markings and figures
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Pillar of the Community
United States
2520 Posts |
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Do people actually buy that stuff? Or are those fantasy asking prices, never to meet a real buyer? Check "sold" ebay listings for yourself to see if there is a market. I used to sell quantities of mixed date rolls for $4-$5 per roll myself but never solid date rolls. |
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Moderator
United States
94784 Posts |
Huh, 2 great answers there, That is a great start to your query.
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Pillar of the Community
 United States
6455 Posts |
The sold items search was a good tip. So it looks like that stuff does sell, but only a few per month, tops.
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Pillar of the Community
United States
2910 Posts |
Most of what I sell on ebay are rolls of circulated nickels - the highest percentage of what I've sold the past few years have been problem-free circulated rolls of the tougher dates from 1960 through 1971 along with rolls of 2009-Ds in ANY condition - even low grade/damaged rolls of '09-Ds will fetch $25. Depending on the date, I usually get 3-6x face value on the 1960-1971 "tougher date" rolls.. I actually have a much easier time selling these coins than pre-1960 dated nickels (presumably because everyone is selling the latter, and very few offer what I do)... People are putting together sets of 1962 to 1995 (or 1996) nickels (aka: "Book 2 Jeffersons"), and coins such as the 1971 Philly and 1968-D are often quite tough to come by - that's where I come in... CRH Nickeloholic. 1,600,000 nickels searched in eight years! Have found FOUR complete Jefferson sets!
Edited by John77
07/10/2023 11:28 pm
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Pillar of the Community
United States
6455 Posts |
So does your tougher date roll consist of all one single date/MM, or does it span all the tougher dates? I'm not sure what someone filling an album would do with a whole roll of a specific date.
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Pillar of the Community
United States
2910 Posts |
Single date and mintmark... I mostly sell to people who are building sets for resale. For example, the 1971 Philly rolls barely last a week most of the time I list them for $9+ shipping.
CRH Nickeloholic. 1,600,000 nickels searched in eight years! Have found FOUR complete Jefferson sets!
Edited by John77
07/11/2023 05:48 am
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Bedrock of the Community
United States
94367 Posts |
People will buy anything online.
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Moderator
United States
54280 Posts |
When you say "selling" do you mean for sale, or actually sold?
Show your financial support of the Coin Community Family (click here)See my topic on Mexican Numismatic Medals (click here) |
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Pillar of the Community
United States
6455 Posts |
Both. I see them for sale, and some of them apparently actually sell. I find that interesting because as a CRH rookie, when I am done with all my post-1970 nickels, I wrap them and return to the bank. If I can do something more valuable with some of those coins, that would be fine with me. I have a jar of 1960s getting full, and my 50s and 40s jars are half full. I am also just generally interested in economics and business, and I'm curious about how the coin market functions.
As to albums: I thought the point was to assemble an album? I didn't realize that people bought completed albums as well.
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Pillar of the Community
United States
2270 Posts |
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I am also just generally interested in economics and business, and I'm curious about how the coin market functions. The coin market is highly inefficient. coins languish at far too high a price and far too low because of simple inertia. Many $25 collector coins could be had for a dollar or two back in the mid-'90's because there was no market. Few coins traded but most were at far lower levels. Today there are two coin markets. There's one for coins and another for "moderns" which most hobby participants don't even consider "coins" at all. Most moderns sell at retail except retailers try to buy at wholesale but usually have to pay more. Prices on most moderns are artificially low. Something like a nice attractive XF '71 nickel is highly elusive but very few collectors are aware of this. Most people think that there are millions of Gems and many more millions of BU rolls just waiting to be checked for Gems so who wants a nice XF. Attractive '71 nickels in XF or better are far scarce than '50-D nickels in the same condition. But the '71 nickels sell for almost nothing even in MS-66. The second coin market is largely composed of younger collectors who hang out on social media many of whom collect moderns in BU and circulated condition. Of course younger collectors collect all sorts of coins including even Gem double eagles but a larger percentage are interested in moderns than are older collectors. The hobby simply isn't very welcoming of these younger collectors unless they have lots of money and like Morgan dollars. This is an unsustainable situation simply because supply of things like attractive '71 nickels is virtually non-existent. Also because the sole source for BU '71 nickels is mint sets and these are nearly all gone now which is why moderns sell at retail prices: Demand is bumping up against supply. As young collectors become more advanced and more sophisticated they will demand coins they need for their collections rather than what dealers have available. And then XF '71 nickels won't sell for 20c any longer. Time don't fly, it bounds and leaps.
Edited by cladking
07/11/2023 2:58 pm
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Valued Member
Japan
294 Posts |
From America I wouldn't usually buy them assuming they've already been heavily searched. If you buy them from another country, the odds of finding varieties is greatly increased in my experience.
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Pillar of the Community
United States
6455 Posts |
cladking, that's a really insightful analysis. Do you have particular years of nickels and other moderns that you feel are undervalued by the Red Book and other standard price lists? I had actually learned here that '70 and '71 nickels in nice condition are worth saving from CRH. They are on my super short list of 1970-2023 nickels. I have also wondered about younger collectors for a while now. Many older coins like silver dollars and halves are really expensive. There is a proliferation of fakes, low-grade coins sold as high-grade or rare, and also cleaned coins. It's easy to get burned for cash by unscrupulous people. But there are fewer collectible modern categories, as you point out. |
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Pillar of the Community
United States
6455 Posts |
Stephen, are there a lot of American coins circulating in other countries? Bills, sure.
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Pillar of the Community
United States
2910 Posts |
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But the '71 nickels sell for almost nothing even in MS-66. This isn't true... They're $35 cheap... usually $40 or more. Below is a typical example - $42. https://www.ebay.com/itm/304438473892Quote:
Also because the sole source for BU '71 nickels is mint sets
And this isn't true either... seen plenty of OBW rolls of 1971 Philly nickels on ebay the past several months. This one sold just a few days ago. https://www.ebay.com/itm/285371566362CRH Nickeloholic. 1,600,000 nickels searched in eight years! Have found FOUR complete Jefferson sets!
Edited by John77
07/11/2023 11:16 pm
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Replies: 18 / Views: 1,846 |
Posted 07/10/2023 9:41 pm
