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 Replies: 23 / Views: 4,366 |
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New Member
Canada
48 Posts |
The local flea market dealer is selling ICCS at half trend. I put a bunch of ICCS MS65(common date) coins in a major show auction and barely got half trend.
With the suppressed market I hear quite a bit that it must be a good time to buy. Maybe...if you're into common stuff!
It's only been a few short years back when Canadian decimal high grade ICCS was commanding record prices. That's when the "good stuff" tends to come out. So, if money is no object, a bull market yields better coins and therefore better "buys".
I define "money no object" not as a rich person, but a collector who may only purchase a few high end coins a year, focusing all resources on those purchases.
I define a "better buy" as not simply a percentage off trends,or finding an unattributed variety, but a purchase
that is seldom offered, and represents a highlight of your collection. I urge you to try to make every coin a "highlight".
We all drool over something date-rare or super high grade, not necessarily because of the value, but because we rarely see such a thing. It might be a high grade common date worth 50 bucks.
You have to be ready, both with cash and knowledge.
It takes a far more knowledgeable collector to pay triple trend for something he knows is under rated, than to pay 70% trend for a 1949 dollar in MS62. Trend may be our best guideline, but when it comes to certain dates/grade you can throw it out the window.
Ask yourself if you collect coins... or "deals"?
Most dealers don't offer "deals" on better coins, only ones that come up all the time that everybody has.
Now I know not everybody is in it for investment, and not everyone cares about grade, so don't jump down my throat about that, But dare I say everyone
is aware there is a value associated with their collection, be it "trends" or cost.
Now imagine you or your inheritors going to the shop or auction to sell and being told its all common or cleaned crap and its not worth much.
I saw a collection that was date-filled with low grade keys and average grade common date, but complete.
Who cares? The collector would have been better off type collecting, focusing money on better(yet more expensive) purchases. its better all the way around, investment, pride, and aesthetically.
Comments welcomed
Edited by numismateer
09/12/2011 1:14 pm
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Valued Member
Canada
170 Posts |
My coin collection consists of lower end Coins, I collect for fun and am always looking for (HOLE FILLERS)I will never spend a lot of money on one coin. I would rather spend $20 on a coin to get one than to spend $1000 on a high grade coin.I have hundreds of coins that combined may be worth $1500 but to me its not what there worth someday or how much they will increase in value, I don't really care. Not meant as a criticism,but to say its not worth buying lower end coins is ones opinion
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Valued Member
Canada
272 Posts |
From my experience there are two ways of collecting be it coins, bottles or widgets.
You can collect for fun or you can collect for profit.
If you collect for profit you are the type of collector as described by NUMISMATEER, which is not a bad thing.
But if you are like most of us you collect for the sheer thrill of the chase and the fun of a job well done, I refer of course to that hole in your album which you have just filled be it a rare coin or a common, then the time comes to get rid of your collection for whatever the reason, if you are like me you will be sad to see it go but if you only sell it for peanuts you can look back and say to yourself " I really enjoyed that, it was fun".
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Pillar of the Community
Canada
1442 Posts |
Interesting comments.
I am a collector of the "rare" and "hard to obtain". For me, it has to be both. A 1948 dollar may be "rare", but it is very easy to obtain, and thus of little interest to me.
In a soft market, I agree, the really high end material (rare, hard to obtain, good eye appeal, etc)...will simply not show up for sale. So you're either reduced to getting deals on lower quality material - and building a collection from that, or you just have to be patient and wait it out.
But it works in the opposite for varieties and overall treasure hunting. In a soft market, people have less money and are less likely to go buying in bulk to look for treasures, or to buy on a hunch hoping to catch the elusive variety (here I am talking from poor pictures on auction sites). So the variety hunter that has money, is more likely to score some rare varieties, due to less competition from other "treasure hunters" who may not be willing to take the financial hits that variety hunting involves.
That's why I'm having more fun hunting for lets say, a 1859 cent DP9 type 5 (now searching for my 3rd), rather than sitting around waiting for the 1893 10c RT3 MS62, which sold some 16 years ago, with no idea when it'll ever show up for sale again.
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Valued Member
Canada
74 Posts |
Though generally I'd agree about not seeing the 'high end stuff' offered at "discount" pricing, I've seen quite a few lately that would in fact fit that description, at least in relation to trends. As an example I cite the ample offerings of 2000P 10c pieces in ICCS and PCGC 65/66 that are failing to garner bids at a listing of $1300.
I think this particular economic down turn is hitting people hard enough to consider moving some of their higher end items due to lack of choices. I don't know if I would try to extrapolate a trend from that though.
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Valued Member
United States
406 Posts |
Quote:
I saw a collection that was date-filled with low grade keys and average grade common date, but complete.
Who cares? The collector would have been better off type collecting, focusing money on better(yet more expensive) purchases. its better all the way around, investment, pride, and aesthetically. I care. I enjoy seeing completed collections regardless of grade. I doubt many would think too highly of my complete Eisenhower dollar set, since some of them were pulled from circulation originally and it shows, but they mean a lot to me. |
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New Member
 Canada
48 Posts |
Very good points so far. I too started collecting low grade everything.
After a while, that became less challenging for me. If one never gets bored with doing so, that's great. My fun and enjoyment comes from finding the more elusive grades,that are unfortunately more expensive. It doesn't mean I'm in it for profit, just that they cost more.
I bring up this topic not to discourage low grade (or low budget) collectors, infact I like to preach that's why numismatics is great, because you can do it on all budgets.
My point is that I've seen people invest a lot of money collecting common stuff which may not be exciting to any body else sown the road.
I'd personally rather see one spectacular coin than ten sliders, and I know I'm not alone on this.
Edited by numismateer
09/12/2011 9:07 pm
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New Member
Canada
48 Posts |
Steve, the 2000P 10ยข you refer to would seem like a good example, but might be an anomaly. It may have been over priced to begin with due to the lack of collectors for this type of thing. I know dime collectors who don't include it in their set.
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Pillar of the Community
United States
629 Posts |
I like to complete holes in my collection of Canadian coins. I am always on the lookout for coins that are a bargin for their condition. I will collect keys and strive to get as many as I can as I know when it's time to liquidate my collection, this is where the focus of value will be. But I do it for the fun and know that based on my purchase price, I won't be burned when it's time to sell. As far as my heirs are concerned, they can do what they want with it, get what they want for it, as it was my collection to accumulate and have fun with, not theirs.
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Pillar of the Community
Canada
3692 Posts |
I get where you're coming from, buying coins not deals. That's a good way to go about it. I'm always trying to find new ways to refine my collection. Maybe in some time I will sell off my "deals" to get "coins", but initially that is what they are - start-up points. Will all the money I've saved on deals (darkside silver) I can flip it all to buy some coveted Newfoundland pieces that will be gobbled up in the years to come. I agree, bull markets have better coins for sale, but you pay up the wazoo.
My life goal for coins would be to create an album that is like a textbook or a history book that anyone can pick up and notice how money changes over the decades and how funny money actually is. It would be complete with charts, blurbs, and best of all, actual coins!
Edited by Libertad
09/12/2011 5:36 pm
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Valued Member
Canada
142 Posts |
I think the third type of collector is missed here. Fun & Profit. Which I am. I have my serious collection and then I have my fun filler collection. I like looking through my coin book and seeing filled holes even if they are low grade. I know that later I will upgrade them with higher grade coins.
Also I don't see how people could collect purely for profit. There are a lot easier ways to make money. Hell, my mutual funds are making me more money than coins right now.
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Pillar of the Community
Canada
2427 Posts |
I like to buy high quality coins! As mentioned prior,"it is better to own 1 spectacular coin then 10 sliders." I very rarely sell them once obtained.
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Pillar of the Community
 Canada
9866 Posts |
numismateer,you should be thankful that there aren't very many collectors like yourself.There are tens of thousands of Canadian collectors,yet very few significant "highlight"coins.
You are right in saying the type of coins you seek simply aren't available in times such as this,but for the vast majority of collectors it truly is a buyer's market
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Pillar of the Community
United States
1353 Posts |
The really good stuff generally isn't for sale in this market. The few really good pieces that come out in this market still command great prices.
Lots of lousy eye appeal mint state coins for sale in this market and they sell for fractions of Trends. When the market rebounds they will still sell for fractions of Trends.
Some of the best buys I have ever made came at well over Trends prices.
http://www.victoriancent.com2011 & 2025 Fred Bowman Literary Award Winner, 2020 J. Douglas Ferguson Award Winner, & 2022 Paul Fiocca Award Winner. Life Member of RCNA.
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Valued Member
Canada
183 Posts |
It seems everyone has silver fever.I see that .9999 silver rounds and Canadian mint rounds and silver unc sets are going for book price. The old 1800 and 1900 high grade are going high,trend prices for these are under priced.The average Joe collector will find low grade silver at below trends if you can find the right seller.
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Pillar of the Community
Canada
1442 Posts |
Right now...99% of ebay buying is for bullion value only. This is a bubble that will burst in the next few months. |
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Replies: 23 / Views: 4,366 |
Posted 09/12/2011 2:01 pm
