Canadian Numismatic Auction - Coin Community Forum

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Author	Replies: 4 / Views: 1,797
steve kuznicki Valued Member Canada 166 Posts	Posted 08/31/2009 7:47 pm Hello, I followed parts of the Canadian Numismatic auction on icollector online last week. In the areas I watch, almost nothing seemed to sell. I think this also happened at the last Torex, which they conducted. Whats up? You can't make money at an auction where coins don't sell can you? Or am I naive? Report this Post to the Staff

glenzy1 Pillar of the Community Canada 1554 Posts	Posted 08/31/2009 8:04 pm I've got a feeling C & P Numismatics that run Torex and the auctions on icollector feel the pinch when coins don't sell. Take into account the bad economic conditions we have in North America, people can't even put food on their table or pay their monthly mortgage's. Do you think for a minute they are going to purchase a coin that has a starting bid of 70% trends and add to that an 18% buyers premium topped off with 12-15% provincial tax. NOT! I personally have cut back my spending on coins severely, a lot due to my personal life situation VS the economy, however, there are a lot of people in dire needs these days and I know it will get worse before it gets better. If you have any money put aside no is the time to buy awesome high grade KEY dates on E-bay. Today I just nailed an I.C.C.S., 1898, Obverse #6, dime , MS-64 at a very good price! Many more of these great bargains to be had from sellers that are desperate for money. Time is ripe to take advantage of the circumstances...............GO for it! Glenn Edited by glenzy1 08/31/2009 8:05 pm Report this Post to the Staff
1cent Pillar of the Community Canada 1051 Posts	Posted 08/31/2009 8:56 pm glenzy I'd have to agree. The way I see it, a good auction is one with low starting bids and lots of bidding activity. C&P might just be protecting themselves in this case. If some of the prices I've paid in recent times online are any indication, a seller takes a serious risk in any non-reserved sale these days. Report this Post to the Staff
cdcoinman Valued Member Canada 372 Posts	Posted 10/03/2009 11:46 am I buy from these auctions.They are a good way to acquire top high grade coins.If you are looking at selling the coin again,this is not the place to shop but if it is for upgrading your collection,paying 70% of trend for a top ICCS graded coin is normal.Lately,the reserve prices are 50% of trend. Report this Post to the Staff
hhbkiddo Pillar of the Community Canada 1248 Posts	Posted 10/03/2009 11:30 pm interesting..... I have recently inquired about a certain very rare canadian coin. C&P have two of them. they offered a price which was 15% over trends. I considered byuing both.... but... will keep on searching. they are either Fat cats with tons of $, or they are not at all business savy... Report this Post to the Staff
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