Dealers getting low on inventory..... and the market roars on....

Peaceman · January 26, 2004 3:23AM

I see more and more dealers going to ICG and NTC slabs.......

66impalaSS · January 26, 2004 3:33AM

I know they have quicker turn around times but personally I would prefer ANACS (5 day subm. $15 coin for more than 5). The submission I recently got back from ANACS, I thought was graded right and maybe even a little conservative and they got the coins back in 5 business days.

I now have a submission into PCGS under the Silver Membership ($30 a coin) and the website says approximately 30 business days. Whatever "approximately" means to them.

tlhoy · January 26, 2004 5:13AM

"and the market roars on..."

I don't see it, The Hot Springs, AR show was dead. They were giving away (PCGS, NGC, ANACS) PR 70 State Quarters, Dimes & Nickels every hour on the hour while I was there & no one stayed around for the drawings!
The only roaring I saw were the roars of people yawning.

85% of the selling I saw was between dealers. Maybe this is the roaring your talking about.
Glenn

Peaceman · January 26, 2004 5:18AM

Glenn,

What do you collect? Maybe your series is dead....

tlhoy · January 26, 2004 6:01AM

I collect Large Cents, but I went looking for something else to catch my eye like ship coins & gold.
About 40-50 coin dealers, 40-50 sports cards, comic & stamp dealers were also there. I went Sat. from 11 am & stayed until 2:30 pm During that time less than 100 people showed up and most walked pass the coins to get to the sports card tables. I counted 15 sells of coins between dealers (mostly trading) & 5 sells to walk-ins.
One guy bought 4 coins and the dealer said $51. The customer pulled out a fifty & said "How about fifty." The dealer replied $51. Three of us standing around the table laughed. He paid $51.
I expected the place to be standing room only, but almost all the chairs were empty.
Lots of gold.
TONS of silver mostly Morgan's. Very few monsters.
Tons of modern coinage.
ICG & NTC slabs by the thousands.
NGC slabs by the hundreds.
You could count the number of PCGS & ANACS slabs on 2 hands.
Glenn

Edited to add: This was my first time I went to a coin show. It was fun, I didn't have to wait in line to see any table!
Edited to add: Oops, I forgot to add, it was lightly raining. Maybe that had something to do with attendance!

BAJJERFAN · January 26, 2004 10:13AM

Well the Morgan market will go south real fast if all there is are NTC and ICG slabs.

jbsteven · January 26, 2004 10:18AM

I mainly see NGC/PCGS slabs.

Placid · January 26, 2004 10:32AM

I just got a e-mail from dlrc. They are auctioning a 25 million dollar collection-over 3,600 U.S. coins.
I have seen alot of really valuable collections go to auction in the past few months.
Maybe some of the "big boys" feel its a good time to sell.

BillJones · January 26, 2004 10:34AM

<< <i>I see more and more dealers going to ICG and NTC slabs....... >>

Well if you are a dealer it is certainly getting harder to find good coins for your inventory and want lists, but not so bad that one has to start selling overgraded trash. The main incentive for selling these brands is that you can buy the coins on the cheap or get your raw stuff converted into holders with fables written on them, and then sell the product to the "less than well informed" at "bargain prices."

Peaceman · January 26, 2004 10:36AM

BAJJERFAN..... if supply is low (thus ICG/NTC slabs being offered....no NGC/PCGS) prices will go up.... "no more quality supply"

coinbuf · January 26, 2004 10:46AM

As there is only one coin show in this town and it is in a few weeks I cannot say much about the shows. However, the auctions seem to be unreal

I was outbid in the FUN auction in every lot and I overbid by $500 to $600 in some of those!!

Chris

Peaceman · January 26, 2004 10:54AM

I have a feeling you'd wish you bought it at that level in 6 months......

BAJJERFAN · January 26, 2004 11:20AM

Well at least part of the problem is the long wait at PCGS. Thats why yer seein more NTC and ICG. Its hard to judge now if people are buyin to keep or to speculate. I don't think that dealers can expect their customers to keep recycling the same coins over and over.

foodude · January 26, 2004 11:50AM

I mainly see NGC/PCGS slabs.

Ditto ... Although my eyes are trained to see anything else (save ANACS to some extent) as raw so I don't know what level the other stuff is (i.e., the other stuff all looks raw to me).

kranky · January 26, 2004 11:56AM

<< <i>Oops, I forgot to add, it was lightly raining. Maybe that had something to do with attendance! >>

Actually, in general rain will help attendance.

BAJJERFAN · January 26, 2004 11:57AM

Couple weeks ago I went to two coin shops in Des Moines area. Almost nothing on display for slabbed Morgans.
If they keep on a goin up n up its tough not to think about sellin.

ms70 · January 26, 2004 12:04PM

At Parsippany this month there was a sudden burst of TruGrade slabs. Three or four tables had a large number of them.

Dealers getting low on inventory..... and the market roars on....

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