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What % of the following control/hold the coin market in selling coins.
leothelyon
Posts: 8,366 ✭✭✭✭✭
Major coins shows, 100+ tables
Smaller coin shows, 60 to 100 tables
Coin auctions, Heritage, Ebay, includes all auction venues
Internet
Brick and mortar coin stores
Well, I started this thread but have suddenly lost interest. Don't reckon know why. Perhaps someone could write it better. add or take away and I'll make the changes. Or just start another thread, I won't mind.
But for whatever it's worth, I think the smaller shows is where the action is although the major auction houses serve the more rarer coins.
Leo
Smaller coin shows, 60 to 100 tables
Coin auctions, Heritage, Ebay, includes all auction venues
Internet
Brick and mortar coin stores
Well, I started this thread but have suddenly lost interest. Don't reckon know why. Perhaps someone could write it better. add or take away and I'll make the changes. Or just start another thread, I won't mind.
But for whatever it's worth, I think the smaller shows is where the action is although the major auction houses serve the more rarer coins.
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
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Comments
What are you looking for
>> channel or Business type selling coins
>> number of individual pieces sold, or dollar value?
Markets are usually assed on dollar value, and it looks like your interest is channel ( I will add 1). My swag is:
> 6% - Major coins shows, 100+ tables
> 1% - Smaller coin shows, 60 to 100 tables
> 50% - Coin auctions, Heritage, Ebay, includes all auction venues
> 35% - Internet (includes dealers w/ and w/o B&M)
> 7% - Brick and mortar coin stores (including their internet presence)
> 1% - Direct collector to collector
"a new scientific truth does not triumph by convincing its opponents and making them see the light,
but rather because its opponents eventually die, and a new generation grows up that is familiar with
it." -Max Planck
Reality is determined by consensus and most human endeavor is determined by the status quo. This
status quo affects us all individually and collectively. A coin has a high price because "everyone" wants
it and we are each a part of this "everyone" and we each define the parameters of what we seek based
on being part of this everyone and through the language which ties us together.
A great deal of what each of us is willing to pay for a coins like an '09-S VDB cent is determined by its
historical price. We know what it's "supposed" to be worth so if one is seen that's a bargain for any rea-
son we might snap it up. After all we can always start a Lincoln cent collection if we have a key already.
We percieve a breakneck pace in change now days but it's only caused by the adoption of technology to
the economy (much of it related to electronics) related to the advancement of theory since the 18th cen-
tury. Perhaps the status quo has never held more power over people and their lives than it does today.
Numerous "rare"and "desirable" "coins" literally sell for pennies because people believe they fail the test
of being rare or desirable or coins or some combination. People believe that since they sell for pennies
then it follows they must fail one of these tests. By the same token common coins or undesirable coins
or items that might not truly be coins at all which had high prices half a century ago continue to have
high prices because this is what the "market" dictates.
Consensus once changed and evolved.
It's ironic that a generation that didn't want to tolerate the "status quo" has redefined it as reality itself.
<< <i>Many dealers site Heritage auction results when quoting a buy or sell price. So, I tend to think that auction venue controls the thoughts of sell/buy pricing for many collectors too. I think the auctions of Heritage, ebay etc Stack's Bowers etc have a large influence throughout without necessarily handling every coin. >>
I wonder if they mentally deduct the BP so that they can lowball you esp. when buying?
MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
<< <i>Major coins shows, 100+ tables
Smaller coin shows, 60 to 100 tables
Coin auctions, Heritage, Ebay, includes all auction venues
Internet
Brick and mortar coin stores
Well, I started this thread but have suddenly lost interest. Don't reckon know why. Perhaps someone could write it better. add or take away and I'll make the changes. Or just start another thread, I won't mind.
But for whatever it's worth, I think the smaller shows is where the action is although the major auction houses serve the more rarer coins.
>>
The short answer to your question is that it's what people are willing to pay.
In the coin business this is determined by specialists who service a clientele or by top collectors,
wholesalers, or large retailers. There are lots of ways to find these and often they will find you if
you have a coin for sale.
It's largely about communication and much of this is telephone and computer but by the same to-
ken it involves networking where large shows and coin shops can be important.
Of course the actual expression of demand which actually creates the price by its affect on supply
comes from all these venues largely in proportion to their total sales.
Im not sure if your OP was more geared towards the retail side of the coin market which is in itself a sub-set of the cash flows of the hobby.
Latin American Collection
<< <i>
<< <i>Many dealers site Heritage auction results when quoting a buy or sell price. So, I tend to think that auction venue controls the thoughts of sell/buy pricing for many collectors too. I think the auctions of Heritage, ebay etc Stack's Bowers etc have a large influence throughout without necessarily handling every coin. >>
I wonder if they mentally deduct the BP so that they can lowball you esp. when buying? >>
Why would they? 95-99% of all coin bidders factor in the BP upfront when placing a bid. So it's already all part of the coin's realized price or FMV. There's no need for anyone to factor out a BP from an auction price unless in that 1-5% instance the previous bidder failed to deduct the BP from their winning bid....hence a potentially inflated price by up to 17.5% on that particular transaction. Even for that to happen, you probably have to have another chuckle head doing the same thing, or two bidders playing the statue of Liberty game. And for >99% of the coins out there, 1 transaction never makes a market all by itself. There are of course those very exceptional and typically very rare coins where bidders do have to forget all the "rules" and restrictions (including BP's) and just keep their hands raised until they win the item. When the Newman 1840-0 ND quarter sold for a monster $329K.... I don't think anyone was keeping track of BP's once it was past $100K.