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 Replies: 21 / Views: 4,135 |
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Valued Member
United States
354 Posts |
I bought my 2023 Morgan S proof from the US Mint for $80+ shipping. I see dealers selling the same product for more than double. For example, Littleton's price (checked today) is $189.
Am I comparing apples and oranges?
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Pillar of the Community
United States
7273 Posts |
Dealers price according to demand. If there is demand they will price above mint when there isn't you get below mint. You can pick up some commemorative coins for spot + a few dollars which is way below mint cost.
Try to buy a 2021 peace the dealers are charging $175-$195 and paying $150+ for them. It's all supply and demand.
But as to buying the proof Morgan/peace above mint prices when they are still available that's just a clueless buyer.
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Pillar of the Community
United States
5604 Posts |
 Basic Supply and Demand 101......... If We owned the U S Mint, You'd receive a More Consistent, Regulated Quality Control System in Place....  ( they really just want the Cash ) Sad....... |
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Pillar of the Community
United States
2219 Posts |
Mostly supply demand, but some dealers and TV marketers have higher prices. People pay more and don't compare shop. The dealer mentioned usually has higher prices when I've looked. For whatever reason some people don't buy directly from the mint but prefer to buy new releases from dealers which costs more. I like to compare prices with the major online dealers and my local coin store. ebay sold auctions is a good place to get an idea of current market value. Edited by livingwater
09/10/2023 1:08 pm
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Moderator
 United States
56855 Posts |
Take Littleton with a grain of salt,just sayin' John1  |
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Pillar of the Community
United States
4085 Posts |
Yes, demand exceeds supply so the aftermarket is pricing at a premium.
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Pillar of the Community
United States
2281 Posts |
If Littleton is in your mind that says a lot about your progression in our hobby.
The sooner you get rid of them in your vocabulary the better.
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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Bedrock of the Community
United States
94367 Posts |
You mean Littleton, the Collector's Friend?
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Rest in Peace
United States
4078 Posts |
This is interesting. About a year ago I purchased a 1921 Peace graded at AU58 for $490 from a reputable dealer.
I felt like I over paid. Looks like a good deal for me.
It was graded by PCGS.
Edited by bpoc1
09/10/2023 4:50 pm
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Moderator
Australia
16810 Posts |
Do coin dealers get a discount from the US Mint for Mint products, or do they have to pay full retail price like everyone else?
If a dealership has to pay full or near-full price for mint products they're buying from the Mint, they're going to need to make profit out of them somehow - because on-selling them for the Mint's RRP would mean little or no profit for them. They're a business, not a charity.
As for Litteleton, they're big enough and have been in the business long enough to be able to run the statistics. They know from past experience how many sets they should buy in, how quickly they can onsell, the ticket price they can get away with just comes out of the sales algorithm.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Bedrock of the Community
United States
94367 Posts |
Littleton is a magazine-insert retail advertiser that targets uninformed new collectors. Anything they offer can be had for much less elsewhere. Don't be fooled by their come-on ads.
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Valued Member
 United States
354 Posts |
Quote:
If Littleton is in your mind that says a lot about your progression in our hobby. Thank you for grading me. I can only go up from here. |
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Pillar of the Community
United States
2219 Posts |
Joking aside, try other online dealers like SD Bullion, Monument Metals, Hero Bullion, Bullion Exchanges, Liberty Coin, APMEX, etc. The big dealers usually have sales and also an ebay store. Sometimes their prices on ebay are cheaper than their own web site and vise versa. There are both good and bad sellers on ebay, good and fake coins, so just research before buying. Edited by livingwater
09/11/2023 06:55 am
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Valued Member
United States
354 Posts |
Quote:
so just research before buying That's exactly what I was doing, using Google to research coin pricing. All those groups Livingwater mentioned, including Littleton, show up in results. So I look at ALL the data. My post was intended to help me understand this hobby's landscape. IMHO I'm progressing quite well, thank you. That said, some are reading more into my initial post than intended. So let me clarify. A portion of my collection came from Littleton. I can only guess that my Father-in law saw a circular or magazine ad and started buying from Littleton. I, too, see some of those 'hook' ads. "Get 5 great coins for just $14.95, limit 1 per family." Wow, that's gotta be a good deal. Hogwash. Not interested. I have not made any purchase from Littleton nor do I intend to. I have bought from a LCD and visit antique shops to peruse their coin collections. I would also mention that the "coin collectors friend's" ads show up in popup ads on this very site. |
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Pillar of the Community
United States
2219 Posts |
My dad bought some coins from Littleton too years ago. Sorry, don't intend to offend, just trying to help others avoid paying too much. Glad you are doing price comparisons. Thanks for sharing that.  Edited by livingwater
09/11/2023 08:54 am
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Valued Member
United States
354 Posts |
LivingWater: Nothing offensive in your post.
I had no idea my Father-in-law had a coin collection until he passed and it was given to me. But he was a sucker for a good ad. He'd get pounds of mail from different organizations asking for donations. I'm guessing he gave, hence all the mail.
Edited by mike31093
09/11/2023 11:10 am
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Replies: 21 / Views: 4,135 |
Posted 09/10/2023 11:02 am
