@derryb said:
I assume you are referring to BST prices. Many sellers at once equals lower prices. BST Supply is high.
So is eBay supply. I think the prices tanked primarily because of the sudden and widespread availability and the rush to flip.
The mintages are low enough and the Morgan/Peace designs are popular enough that I expect prices to firm up once the initial selling pressure subsides.
@MsMorrisine said:
Will prices go low enough for returns to the mint start?
I think that prices are already there for 3 of these issues. When a coins quality is so bad that you don't want the coin and you can't sell it then there will be some returns.
Seems at $120 and you lose say 15% to fees, that’s $102 less $85 less postage
And you’d have to pay postage back to the mint, too.
I see prices over $120 right now.
I think we are still in the sell on eBay mode
Would be fun to watch the next few days as shipments get completed.
Most flippers charge shipping extra on eBay so it may eventually end up as a distress sale for many, wanting to just recover money sunk in with marginal profit taking of 10-15% and throw in the towel at around the 110$ mark.
@derryb said:
panic from the inexperienced flippers who got in for the fast buck.
I had a whole extra box of CC's and O's show up that I had forgotten about. You're damn right I dumped 'em on eBay undercutting everybody... Already getting less for those than I locked in my others for, might as well just flush 'em, take my guaranteed money, and roll it over fast. I am not interested in holding these until they start showing up en masse graded 70.
I don't think its panic, I think its more about just taking whats there profit-wise. I'll make something like $5,000 off these Morgan releases. I don't need to be greedy, thats way more than I was expecting when this started.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
This has been going on for many years. If you have to be the first one on your block to get something modern, that has just been issued, you will pay through the nose. If you can wait, usually the prices come down when more pieces are on the market.
Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
@derryb said:
panic from the inexperienced flippers who got in for the fast buck.
I had a whole extra box of CC's and O's show up that I had forgotten about. You're damn right I dumped 'em on eBay undercutting everybody... Already getting less for those than I locked in my others for, might as well just flush 'em, take my guaranteed money, and roll it over fast. I am not interested in holding these until they start showing up en masse graded 70.
I don't think its panic, I think its more about just taking whats there profit-wise. I'll make something like $5,000 off these Morgan releases. I don't need to be greedy, thats way more than I was expecting when this started.
Amen, brother.
I really don't understand the attitude around these. They are still selling for roughly 80% over issue price. I'm not sure why everyone is yelling that the sky (price) is falling and there's panic in the streets.
I don't care if they drop under $100. I'm still making money at that number with little time invested in the process.
Because everything is being compared to outliers…19s ERP, v75 etc
100% positive transactions with SurfinxHI, bigole, 1madman, collectorcoins, proofmorgan, Luke Marshall, silver pop, golden egg, point five zero,coin22lover, alohagary, blaircountycoin,joebb21
@Mgarmy said:
Because everything is being compared to outliers…19s ERP, v75 etc
Or even the 2021 W ase’s types 1 &2. Stupid prices. I have posted before 100-400 percent profit is not the norm. JM repeatedly reminds us that the coin business is not a big percentage over cost, business. 😉
@Joe_360 said:
All the coins that I have received are beautiful, what quality issue? I have none...
Well I’m very happy for you. I wish the world I live in was only me. Then, I could post about my great luck and ignore the fact that there seems to be a lot of our fellow collectors who have had some problems. No pictures? 😬
@Joe_360 said:
All the coins that I have received are beautiful, what quality issue? I have none...
Well I’m very happy for you. I wish the world I live in was only me. Then, I could post about my great luck and ignore the fact that there seems to be a lot of our fellow collectors who have had some problems. No pictures? 😬
Hi, I did not mean it that way. I only meant that I was unaware of high quality issues - Are people returning them? Any particular mint?
@Joe_360 said:
All the coins that I have received are beautiful, what quality issue? I have none...
Well I’m very happy for you. I wish the world I live in was only me. Then, I could post about my great luck and ignore the fact that there seems to be a lot of our fellow collectors who have had some problems. No pictures? 😬
I've gone through 46 coins at this point. 43 if then had no issues. One of them had a small black spot on the cheek. Two of them have identical shiny doors in the reverse which I'm guessing is from striking through grease.
Presented simply for statistical purposes, not an argument.
The initial prices were based on speculation and flippers and not real demand.
All are in high grade.
Collectors are tired of novelty and fake “scarcity.”
Collectors have had their fill of the Mint’s nonsense and website break downs. Many of those collectors refuse to pay ransom demanded by flippers, and many have lost interest in most of not all of the Mint’s current offerings.
What happened? They tanked just like every other derby investment. PT said it best.
what’s the reason for the attack.
The bickering got the thread shutdown on the PM forum. No need to continue it, including here
What is there to bicker about? It's a beautiful coin that has actually held its value (so far). If you don't like them, you are welcome to buy other things.
@cameonut2011 said:
Oh and they look like Carr productions/knock offs rather than genuine coinage.
Wow that’s a fairly juvenile response. D.Carr is an artist and craftsman who’s pretty good. Why would you see fit to slam him There’s a preview button that you can use to rethink your post. But you know that, you’ve been around here for a long time. Mean for the sake of being mean. Just a lovely example of the mature collectors putting forth their wisdom. Bless your heart 😉
@cameonut2011 said:
Oh and they look like Carr productions/knock offs rather than genuine coinage.
Wow that’s a fairly juvenile response. D.Carr is an artist and craftsman who’s pretty good. Why would you see fit to slam him There’s a preview button that you can use to rethink your post. But you know that, you’ve been around here for a long time. Mean for the sake of being mean. Just a lovely example of the mature collectors putting forth their wisdom. Bless your heart 😉
I don’t respect those who flagrantly violate federal law, produce counterfeit coins under the guise of novelty items, and take the position anyone fooled by their wares deserves what happens to them. Coin World had an article in its “Counterfeit detection” column by Mike Fahey, an ANACS authenticator and grader, that he received multiple calls every year from people thinking they had found rare/valuable U.S. coinage rather than a Carr. If that makes me mean so be it.
I like the Peace dollars.
Hopefully, I can pick one up for a reasonable price now that the market is settling.
This price adjustment and minor turmoil is just a warm up, warning and preview for what going to eventually hit many of the same people trading in the cryptocurrency markets.
To the flippers.
“You ain’t seen nothing yet.”
Fasten your seatbelts!
Happy, humble, honored and proud recipient of the “You Suck” award 10/22/2014
@cameonut2011 said:
Oh and they look like Carr productions/knock offs rather than genuine coinage.
I would say this is accurate. However I agree Carr is a craftsman and artist who is very good at what he does; he produces quality fantasy pieces. No different than other small private mints, like the Intaglio Mint that produce novelty bullion items to meet consumer demand.
Repetition of ignorance is ignorance raised to the power two.
Coin World had an article in its “Counterfeit detection” column by Mike Fahey, an ANACS authenticator and grader, that he received multiple calls every year from people thinking they had found rare/valuable U.S. coinage rather than a Carr. If that makes me mean so be it.
I know right! You have no idea how many people run down to coin shops sure they have found a rare error Peace dollar that has a 'V' instead of a 'U' in TRUST...
@derryb said:
panic from the inexperienced flippers who got in for the fast buck.
I had a whole extra box of CC's and O's show up that I had forgotten about. You're damn right I dumped 'em on eBay undercutting everybody... Already getting less for those than I locked in my others for, might as well just flush 'em, take my guaranteed money, and roll it over fast. I am not interested in holding these until they start showing up en masse graded 70.
I don't think its panic, I think its more about just taking whats there profit-wise. I'll make something like $5,000 off these Morgan releases. I don't need to be greedy, thats way more than I was expecting when this started.
Comments
I might lose my omnipotence
So is eBay supply. I think the prices tanked primarily because of the sudden and widespread availability and the rush to flip.
The mintages are low enough and the Morgan/Peace designs are popular enough that I expect prices to firm up once the initial selling pressure subsides.
My Adolph A. Weinman signature
Ask Joey.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Will prices go low enough for returns to the mint start?
I got the 3 Philly Morgan along with the 3 Peace today and had posted the pictures of one each
https://forums.collectors.com/discussion/comment/13081513#Comment_13081513
High relief it ain't.
https://www.pcgs.com/setregistry/u-s-coins/quarters/PCGS-2020-quarter-quest/album/247091
I think that prices are already there for 3 of these issues. When a coins quality is so bad that you don't want the coin and you can't sell it then there will be some returns.
panic from the inexperienced flippers who got in for the fast buck.
Repetition of ignorance is ignorance raised to the power two.
Typical aftermarket, I expect them fall further.
Dunno
Seems at $120 and you lose say 15% to fees, that’s $102 less $85 less postage
And you’d have to pay postage back to the mint, too.
I see prices over $120 right now.
I think we are still in the sell on eBay mode
Would be fun to watch the next few days as shipments get completed.
Most flippers charge shipping extra on eBay so it may eventually end up as a distress sale for many, wanting to just recover money sunk in with marginal profit taking of 10-15% and throw in the towel at around the 110$ mark.
https://www.pcgs.com/setregistry/u-s-coins/quarters/PCGS-2020-quarter-quest/album/247091
They have pills and therapy for that
"Inspiration exists, but it has to find you working" Pablo Picasso
I had a whole extra box of CC's and O's show up that I had forgotten about. You're damn right I dumped 'em on eBay undercutting everybody... Already getting less for those than I locked in my others for, might as well just flush 'em, take my guaranteed money, and roll it over fast. I am not interested in holding these until they start showing up en masse graded 70.
I don't think its panic, I think its more about just taking whats there profit-wise. I'll make something like $5,000 off these Morgan releases. I don't need to be greedy, thats way more than I was expecting when this started.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
This has been going on for many years. If you have to be the first one on your block to get something modern, that has just been issued, you will pay through the nose. If you can wait, usually the prices come down when more pieces are on the market.
Amen, brother.
I really don't understand the attitude around these. They are still selling for roughly 80% over issue price. I'm not sure why everyone is yelling that the sky (price) is falling and there's panic in the streets.
I don't care if they drop under $100. I'm still making money at that number with little time invested in the process.
Because everything is being compared to outliers…19s ERP, v75 etc
100% positive transactions with SurfinxHI, bigole, 1madman, collectorcoins, proofmorgan, Luke Marshall, silver pop, golden egg, point five zero,coin22lover, alohagary, blaircountycoin,joebb21
People don't remember the days of making $10 on a $80 order lol. It's too easy now.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
I just got the text... They're in the mailbox!
My YouTube Channel
They are selling for 3500 for the set of 6 on the boomervision channels
.
They have arrived
As of 6/1/2021, I've had successful BST transactions with: gowithmygut, AlanLastufka, Coinlearner, CXD, tommyrusty7, Coinflip, nurmaler, firstspousecoins
Or even the 2021 W ase’s types 1 &2. Stupid prices. I have posted before 100-400 percent profit is not the norm. JM repeatedly reminds us that the coin business is not a big percentage over cost, business. 😉
🎶 shout shout, let it all out 🎶
All the coins that I have received are beautiful, what quality issue? I have none...
Well I’m very happy for you. I wish the world I live in was only me. Then, I could post about my great luck and ignore the fact that there seems to be a lot of our fellow collectors who have had some problems. No pictures? 😬
🎶 shout shout, let it all out 🎶
Hi, I did not mean it that way. I only meant that I was unaware of high quality issues - Are people returning them? Any particular mint?
I've gone through 46 coins at this point. 43 if then had no issues. One of them had a small black spot on the cheek. Two of them have identical shiny doors in the reverse which I'm guessing is from striking through grease.
Presented simply for statistical purposes, not an argument.
Just saw a listing on reddit sub pmsforsale
3x San Francisco 2021 Morgan Dollars - $110 each, all three for $300 SHIPPED PRIORITY.
2x Denver 2021 Morgan Dollars - $110 each, $200 SHIPPED PRIORITY
2x Peace Dollars - $120 each, $220 SHIPPED PRIORITY
So yeah, they are getting sold for even lesser outside of FeeBay and inching closer to issue price levels.
https://www.pcgs.com/setregistry/u-s-coins/quarters/PCGS-2020-quarter-quest/album/247091
I did see 3 Morgans offered for 300 last night on instagram. Flippers getting nervous.
That's the wholesale price, more or less.
Too many speculators got into it thinking it would send the cash registers ringing like the V75 release
https://www.pcgs.com/setregistry/u-s-coins/quarters/PCGS-2020-quarter-quest/album/247091
hopefully they won't be clogging up the wifi waves for the next mint hot offering.
Repetition of ignorance is ignorance raised to the power two.
Yeah, they only made $20 per coin. That'll teach them.
yeah and when they check prices next week they'll swear off the US Mint.
Repetition of ignorance is ignorance raised to the power two.
What happened? They tanked just like every other derby investment. PT said it best.
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Oh and they look like Carr productions/knock offs rather than genuine coinage.
what’s the reason for the attack.
The bickering got the thread shutdown on the PM forum. No need to continue it, including here
What is there to bicker about? It's a beautiful coin that has actually held its value (so far). If you don't like them, you are welcome to buy other things.
It's what trolls do. It's like having a pet.
Repetition of ignorance is ignorance raised to the power two.
Wow that’s a fairly juvenile response. D.Carr is an artist and craftsman who’s pretty good. Why would you see fit to slam him There’s a preview button that you can use to rethink your post. But you know that, you’ve been around here for a long time. Mean for the sake of being mean. Just a lovely example of the mature collectors putting forth their wisdom. Bless your heart 😉
🎶 shout shout, let it all out 🎶
I don’t respect those who flagrantly violate federal law, produce counterfeit coins under the guise of novelty items, and take the position anyone fooled by their wares deserves what happens to them. Coin World had an article in its “Counterfeit detection” column by Mike Fahey, an ANACS authenticator and grader, that he received multiple calls every year from people thinking they had found rare/valuable U.S. coinage rather than a Carr. If that makes me mean so be it.
I like the Peace dollars.
Hopefully, I can pick one up for a reasonable price now that the market is settling.
This price adjustment and minor turmoil is just a warm up, warning and preview for what going to eventually hit many of the same people trading in the cryptocurrency markets.
To the flippers.
“You ain’t seen nothing yet.”
Fasten your seatbelts!
Happy, humble, honored and proud recipient of the “You Suck” award 10/22/2014
I would say this is accurate. However I agree Carr is a craftsman and artist who is very good at what he does; he produces quality fantasy pieces. No different than other small private mints, like the Intaglio Mint that produce novelty bullion items to meet consumer demand.
Repetition of ignorance is ignorance raised to the power two.
Coin World had an article in its “Counterfeit detection” column by Mike Fahey, an ANACS authenticator and grader, that he received multiple calls every year from people thinking they had found rare/valuable U.S. coinage rather than a Carr. If that makes me mean so be it.
I know right! You have no idea how many people run down to coin shops sure they have found a rare error Peace dollar that has a 'V' instead of a 'U' in TRUST...
Missed the boat with moderns. Still wading through the last flood
Enjoy. I do.
No bickering just answering the OPs question as to why the price is tanking.
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
I can't get excited about these issues, and I'm glad that for once I didn't feed the Mint.
I knew it would happen.
I still am excited about the program and what it means for the hobby.
I hope the prices firm up but I don't think we know yet about perceived value here.
Getting a high grade is looking like a potential problem. Sure going to be some interesting numbers. The WW2 ase’s had a 65 and a few 66’s.
🎶 shout shout, let it all out 🎶
$5,000 that’s great….how?