To be fair, you SHOULD e a little upside down "instantly" on any coin purchase. A healthy market doesn't mean that there is rapid price inflation. There should be a normal bid/ask spread.
Agreed, the imbalance is that there is not a "normal" bid/ask spread. There are retail prices that do not conform to market prices.
I disagree with the premise that whoever sells a coin that they are owed some profit. They can ask it, and now I can refuse it.
As a collector, I sold to make room for other coins...ALWAYS at auction. i let the market find the price, I did not demand a profit. This isn't the way the market works obviously, but given this stark reality, the "market" no longer works for me.
Markets go up and down based on demand. Overall, I'm seeing a similar market this year to last year--overall "ok", but generic coins aren't doing well, and nice coins are in demand.
Overall nothing to complain about if you're a collector, since many coins are "on sale", so add some quality coins to your collection at good prices. If you're a dealer, take your losses where appropriate and price your coins with the times (if you're not asking 2019 prices for your coins, you will be punished by the market.)
As a collector it behooves you to do your homework. I used to look at the PCGS website to get an idea of how much I'd have to spend if I went to a store and purchased that coin (I knee it would be on the high end). Then, I started looking at The Greysheet... now, it's auction results and trend lines. When someone is asking $500 for a coin that is trending at $300, what compels me to spend the additional money? Especially if this is at a major show and not a brick and mortar shop...
Collecting: Dansco 7070; Middle Date Large Cents (VF-AU); Box of 20;
@lkenefic said:
As a collector it behooves you to do your homework. I used to look at the PCGS website to get an idea of how much I'd have to spend if I went to a store and purchased that coin (I knee it would be on the high end). Then, I started looking at The Greysheet... now, it's auction results and trend lines. When someone is asking $500 for a coin that is trending at $300, what compels me to spend the additional money? Especially if this is at a major show and not a brick and mortar shop...
I appreciate your comment and am feeling the same way you do about buying coins. HOWEVER, is it realistic to be able to expect to buy around Greysheet or trending prices? Even when that happens, I later discover the market has gone even lower!
@lkenefic said:
As a collector it behooves you to do your homework. I used to look at the PCGS website to get an idea of how much I'd have to spend if I went to a store and purchased that coin (I knee it would be on the high end). Then, I started looking at The Greysheet... now, it's auction results and trend lines. When someone is asking $500 for a coin that is trending at $300, what compels me to spend the additional money? Especially if this is at a major show and not a brick and mortar shop...
I appreciate your comment and am feeling the same way you do about buying coins. HOWEVER, is it realistic to be able to expect to buy around Greysheet or trending prices? Even when that happens, I later discover the market has gone even lower!
Depends on what it is.
All comments reflect the opinion of the author, evn when irrefutably accurate.
I have decided to narrow focus to Commems and Slabbed gold US or World close to melt. Currency will remain the same but wb beefing up graded portion of that inventory as deals present themselves. It is a high profit area but movement slow. CSA & Obsoletes seeing high demand from buyers in Europe. Picked up about dozen from dealer flip to me about year ago but almost gone.
Picked up a nice 1926-S Oregon NGC64 at $138 recently. Retail $240 / whsl $175. Wb offering around $225 on bourse at shows. Many players seeing Commems really cheap right now and like sharks smelling blood jumping on nice material under $300. A bullion dealer next to me at recent shows sold 34 NGC 69 $50 1 oz gold Buffalos. “Sir I have an empty NGC storage box, fill it up with da Buffs.” says customer shelling out bundles of Bens. Seeing them in super Gem BU 69 stacks absolutely stunning. Another sold several $50 Mexico gold at very close to melt as I saw the deal go down. In a discussion with a customer seeking put together slabbed set in MS63 and above we both agreed these much rarer than US in ch Unc and above. Better date buff 5c on fire! Buyers having trouble finding these.
@lkenefic said:
As a collector it behooves you to do your homework. I used to look at the PCGS website to get an idea of how much I'd have to spend if I went to a store and purchased that coin (I knee it would be on the high end). Then, I started looking at The Greysheet... now, it's auction results and trend lines. When someone is asking $500 for a coin that is trending at $300, what compels me to spend the additional money? Especially if this is at a major show and not a brick and mortar shop...
I appreciate your comment and am feeling the same way you do about buying coins. HOWEVER, is it realistic to be able to expect to buy around Greysheet or trending prices? Even when that happens, I later discover the market has gone even lower!
Greysheet ask... sure. The auction results I'll add in the 20% buyers premium. Still, this is typically a bit less than the price guides indicate.
I also think it depends on the particular coin too. If it seems undergrad ed and has superior eye appeal, perhaps it's worth the extra money to me. If I'm vacillating over the purchase, or if there are any issues with the coin... I'll simply pass.
I understand being apprehensive about pulling the trigger on a coin only to discover you spent substantially more than you had to. For me, I'm not looking at hugely expensive coins, so if I paid $50 more than I should have, it's not a huge hit... I'll just chock it up to tuition and maybe not frequent that dealer next time.
Collecting: Dansco 7070; Middle Date Large Cents (VF-AU); Box of 20;
Comments
Coins are selling with positive GM but not at rate I would like.
It's blistering HOT. I just ordered a coin that is in the THREE figures!
Counting the decimals?
All comments reflect the opinion of the author, evn when irrefutably accurate.
dang,
Agreed, the imbalance is that there is not a "normal" bid/ask spread. There are retail prices that do not conform to market prices.
I disagree with the premise that whoever sells a coin that they are owed some profit. They can ask it, and now I can refuse it.
As a collector, I sold to make room for other coins...ALWAYS at auction. i let the market find the price, I did not demand a profit. This isn't the way the market works obviously, but given this stark reality, the "market" no longer works for me.
Markets go up and down based on demand. Overall, I'm seeing a similar market this year to last year--overall "ok", but generic coins aren't doing well, and nice coins are in demand.
Overall nothing to complain about if you're a collector, since many coins are "on sale", so add some quality coins to your collection at good prices. If you're a dealer, take your losses where appropriate and price your coins with the times (if you're not asking 2019 prices for your coins, you will be punished by the market.)
based on reports I see coming out of Baltimore, it appears most dealers are continuing to see some strength in the market.
As a collector it behooves you to do your homework. I used to look at the PCGS website to get an idea of how much I'd have to spend if I went to a store and purchased that coin (I knee it would be on the high end). Then, I started looking at The Greysheet... now, it's auction results and trend lines. When someone is asking $500 for a coin that is trending at $300, what compels me to spend the additional money? Especially if this is at a major show and not a brick and mortar shop...
Successful BST transactions with: SilverEagles92; Ahrensdad; Smitty; GregHansen; Lablade; Mercury10c; copperflopper; whatsup; KISHU1; scrapman1077, crispy, canadanz, smallchange, robkool, Mission16, ranshdow, ibzman350, Fallguy, Collectorcoins, SurfinxHI, jwitten, Walkerguy21D, dsessom.
I'm seeing the same thing from a few dealer blogs.
Be nice if it's a trend.
I have already reached my year-end goal to have $250,000 in retail inventory. I may need to revisit this goal after I hit my other goal.
Now I need to work on my cash reverse which went down due to my aggressive buying this year.
So far, this year is fantastic
I appreciate your comment and am feeling the same way you do about buying coins. HOWEVER, is it realistic to be able to expect to buy around Greysheet or trending prices? Even when that happens, I later discover the market has gone even lower!
Depends on what it is.
All comments reflect the opinion of the author, evn when irrefutably accurate.
I have decided to narrow focus to Commems and Slabbed gold US or World close to melt. Currency will remain the same but wb beefing up graded portion of that inventory as deals present themselves. It is a high profit area but movement slow. CSA & Obsoletes seeing high demand from buyers in Europe. Picked up about dozen from dealer flip to me about year ago but almost gone.
Picked up a nice 1926-S Oregon NGC64 at $138 recently. Retail $240 / whsl $175. Wb offering around $225 on bourse at shows. Many players seeing Commems really cheap right now and like sharks smelling blood jumping on nice material under $300. A bullion dealer next to me at recent shows sold 34 NGC 69 $50 1 oz gold Buffalos. “Sir I have an empty NGC storage box, fill it up with da Buffs.” says customer shelling out bundles of Bens. Seeing them in super Gem BU 69 stacks absolutely stunning. Another sold several $50 Mexico gold at very close to melt as I saw the deal go down. In a discussion with a customer seeking put together slabbed set in MS63 and above we both agreed these much rarer than US in ch Unc and above. Better date buff 5c on fire! Buyers having trouble finding these.
Greysheet ask... sure. The auction results I'll add in the 20% buyers premium. Still, this is typically a bit less than the price guides indicate.
I also think it depends on the particular coin too. If it seems undergrad ed and has superior eye appeal, perhaps it's worth the extra money to me. If I'm vacillating over the purchase, or if there are any issues with the coin... I'll simply pass.
I understand being apprehensive about pulling the trigger on a coin only to discover you spent substantially more than you had to. For me, I'm not looking at hugely expensive coins, so if I paid $50 more than I should have, it's not a huge hit... I'll just chock it up to tuition and maybe not frequent that dealer next time.
Successful BST transactions with: SilverEagles92; Ahrensdad; Smitty; GregHansen; Lablade; Mercury10c; copperflopper; whatsup; KISHU1; scrapman1077, crispy, canadanz, smallchange, robkool, Mission16, ranshdow, ibzman350, Fallguy, Collectorcoins, SurfinxHI, jwitten, Walkerguy21D, dsessom.