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 Replies: 13 / Views: 1,347 |
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Pillar of the Community
United States
3342 Posts |
I browse Collector's Corner for bargains fairly regularly. While I am not finding any bargains, I noticed today the availability of a large number of high end coins. In half eagles for instance there are currently 60 San Francisco pieces in the 1855-1877 period. Many of them are problem-free AU, typically in the $5000-$10,000 price range. Only one of them is priced below $1000 (1871-S VF-20). That's sort of a bargain, but it's the affordable exception in the group.
Whie the dealer pricing is in line with PCGS, there's a lot more inventory of high grade scarce dates than I remember ever seeing. "Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
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Pillar of the Community
United States
4233 Posts |
Somebody cashing in a collection/hoard perhaps.
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Pillar of the Community
United States
2280 Posts |
Depending on the coins of course, I would trickle them out instead of all at once.
You realize when you know how to think, it empowers you far beyond those who know only what to think.
-Neil deGrasse Tyson
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Pillar of the Community
United States
3848 Posts |
Not much new material or good deals at the ANA. Suffering from bust half fever. Want to learn how to attribute early half dollars by die variety? Click Here: http://goccf.com/t/434955Shoot me a PM if you are looking to sell bust halves. |
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Moderator
 United States
15386 Posts |
Good for those looking to build collections of harder to obtain items.
Take a look at my other hobby ... http://www.jk-dk.art |
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Pillar of the Community
 United States
3342 Posts |
These coins come from a wide range of dealers, so I doubt that it's a hoard. IMO it's an accretion of unaffordable pieces that came from many collections, probably estate liquidations.
What shall I buy today? That 1859-S in AU50 for $9000, or step up for the AU-55 for $14,500? How many people are looking to fill this hole in their half eagle book? I'm not looking to upgrade my culls right now, and am at least $8500 short, but when I'm ready I know where to look.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
08/20/2023 08:41 am
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Pillar of the Community
 United States
4587 Posts |
The timing is about right for people getting around to disposing of gramps' collection when he succumbed to the great disease that shall not be named.
The executor first has to gather the assets, pay off debts and - after the bar date has passed - start distributing the assets, with the easy things first. Selling the house and coin collection would be towards the end.
-----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
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Pillar of the Community
United States
3342 Posts |
I was my dad's executor 9 years ago. Once I found his coin accumulation I disposed of it in one hour. 90% of the value was in bullion coins. Since then I've focused on bullion/low end precious metals collecting because it's easy to dispose of. I also have a huge accumulation of interesting but hard to sell coins, but they are individually not very high value - nothing like those AU 1859-S half eagles. I really enjoy picking through coin shop foreign books, but I got the clear message that I was looking at dead stock the dealer wanted rid of, with prices unchanged in 10 years.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
08/20/2023 10:08 am
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Pillar of the Community
United States
5767 Posts |
There's always lots of psychology and history involved with coin collecting.
Remember how short the dealers were on inventory during the pandemic. People who couldn't get out were improving there collections. The dealers were ecstatic over the amount of activity and the prices they were getting.
But .... the downside was they had to replace inventory. Prices to collectors would have gone up to give them a reason to sell.
The dealers now have to pass those higher prices on to the new buyers.
The sellers may be flush with $ and not have much incentive to sell at lower margins.
Prices will come down when sellers are hungry again.
It's a dance between sellers and buyers!!
Words of encouragement are one of the major food groups.
We need to consume them regularly to thrive and grow.
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Pillar of the Community
United States
1748 Posts |
The economy is starting to get rougher due to higher interest rates. The high end will see the price softening first as there is a smaller market for it.
Edited by DoubleEagle20
08/21/2023 10:47 am
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Valued Member
United States
354 Posts |
I wonder how much of this up-tic is counterfeit? I've read that the counterfeiters are getting better every day.
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Bedrock of the Community
United States
11880 Posts |
I agree with DoubleEagle20. Rates are affecting the high end and many lots are being passed failing to meet the reserve. Recently I saw an MS64 1792 Half Disme meeting that fate with a reserve at $575K. It's a natural result of money not being free any longer. Bargains abound in many markets. IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: " It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website: https://fairfaxcoins.com |
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Pillar of the Community
United States
4233 Posts |
I just see it as money moving from "it's earning almost nothing, might as well buy a coin" to "the coin market has peaked, I can get a 5.5% CD instead." Seems fairly predictable. The economy isn't getting rougher due to high interest rates for people who can dump 5 figures on a coin.
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Bedrock of the Community
Australia
21786 Posts |
I understand the innuendo of the question.
Fakery is becoming ever more deceiving.
I have spoken to some very experienced and professional public auction lot describers,
who have expressed apprehension about this problem
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Replies: 13 / Views: 1,347 |
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Posted 08/19/2023 8:32 pm
