Specialty Coin Dealers In Thin Markets
ctf_error_coins
Posts: 15,433 ✭✭✭✭✭
I am a specialty coin dealer in a thin market and have always wondered how many coins (not dollar amount) other specialty dealers buy in a given year.
I only buy major error coins that have fantastic eye appeal if the coin is priced at wholesale or below.
I try to buy one coin per day. It seems like an almost impossible task given my extremely strict purchasing requirements.
That said, this year in 2022 and it is the 4 day of the year, I have have purchased 19 exceptional coins. Well above par. Thing is, my current watch list is empty. I got some searching to do.
Searching is fun, finding something you have never seen before is exciting, and winning those unique coins makes my day.
What have you bought this year and do you have a plan of attack for the rest of the year?
Comments
Chris- Good thread topic.
It applies to many categories of numismatics that are not generic or wide spread.
I specialize in mint errors, die trials and patterns to widen my opportunities.
Going to try and avoid the mint. Finish the Roosie album and inventory my “it’s just horrible “ mess of an office 😉. That’s the word coming from the boss🤨
This is leading to starting some sales and there my friend is how this applies. Looking to specializing and that’s usually a narrow area. I shall learn how and where to buy but your question is a good one👍🏼
🎶 shout shout, let it all out 🎶
Thank you for your input Mike.
I do not plan on expanding into patterns nor die trails as I have no expertise in those. I will leave that area to you.
I do plan on expanding upward (in the price scale) and may start bumping into you. As of now we pretty much do not compete as we are on different levels. Watch out for competition coming up from below
How did you do in the Heritage error coin auction last night? I got distracted and missed bidding on a couple of coins on my watch list. I noticed some of the prices on the early Lincoln cent errors were quite soft compared to other recent auctions, I think there were some real bargains to be found there.
Sean Reynolds
"Keep in mind that most of what passes as numismatic information is no more than tested opinion at best, and marketing blather at worst. However, I try to choose my words carefully, since I know that you guys are always watching." - Joe O'Connor
I won 17 coins last night. I tried to avoid most of the yellow holdered coins but still ended up with 11. Most of the older dated Lincolns just didn't have enough eye appeal for me. The coins just did not match what I carry in inventory.
Here is the coolest Yellow labeled coin I won ..... And it was not a bargain
Chris- sounds like you made some good buys!
These 3 proof mint errors sold for very strong prices:
Wow, Congratulation Mike on the record prices.
All of those coin were on my watchlist and I saw the coins live at auction.
I was outbid on a super nice proof error on the last auction and with the super strong prices, I did not go after any this time.
I did go after ultra rare error coins that were overshadowed buy your remarkable proof errors so I thank you for that
Love that Kennedy!
WOW!
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.I thought that overall the major and expensive mint errors last night in the Heritage Auction brought strong prices.
The 2 Cent Die Cap realized an amazing figure too!
@joeykoins said:
“Love that Kennedy! WOW!”
Yes that is a very dramatic proof double struck Kennedy Half!
The 1864 2 cent die cap is so cool.
As are the eye appealing proof errors.
While everyone was watching these big ticket auctions, I was sneaking around the back alley picking up some possibly even rarer error coins.
These two ultra moderns were under appreciated and way under priced for their extreme rarity ...
@ErrorsOnCoins
Those 2 dates and mintmarks on the double struck Lincoln Cents are rare.
Here are a few prices realized for both proof and mint state error coins in the Heritage Jan 3rd auction:
https://minterrornews.com/news-1-4-22-strong-prices-realized-for-mint-errors-in-january-2022-heritage-auction.html
I'll second that
Keep your eye out for any 2002 D or 2003 D Cents that have a large indent reverse and let me know
That would be so cool
Wow! Great information and insight here. Thanks to both Chris and Mike!
So no one asked about the my favorite coins that I won last night.
I will start with my third favorite which I got outbid above my price, but still followed it up with a few bids and still lost. Congrats to the winner as this is nice coin. If it had two full dates, I probably would have won this auction
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Great thread @ErrorsOnCoins
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb
Bad transactions with : nobody to date
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb
Bad transactions with : nobody to date
I always bid up My Birth Year coins
Damn is it really 2022?
Sounds like a system that has worked for you, congrats
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In the 20's here today [temperature wise], any kayak fishing lately?
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb
Bad transactions with : nobody to date
Thank you.
Unfortunately / fortunately, I keep selling my birth year coins.
The really interesting thing that I buy birth year coins for my wife, daughter and son and always bid up the good stuff in order to win.
My business model requires that I put the family birth year coins in inventory. So many of these coins end up selling instantly making the birth years sets ever changing.
As to kayak fishing, well its cold (60's) and fishing has been bad for the last 8 months or so. Instead, I have been concentrating on my Bonsai collection as the little trees were in need of some love.
@ErrorsOnCoins ... Thanks for showing those error coins. I am always amazed at the coins you find - I realize it is your business, and your diligence impresses me. I really enjoy seeing them. Cheers, RickO
I do a lot of Mexico stuff. Bought a nice Gem BU 1934 Mexico 20c silver at good price. Only purchase so far this year. A currency grading submission is in progress.
To answer the question, I have many specialties and the numbers vary greatly, from single digits to many hundreds.
As for the Heritage error sale, even I bought a coin! Misattributed, I think, but it probably doesn’t affect the value.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Is that really a quarter Andy ?
Pretty cool !
I think it’s a Netherlands 10C struck on a Lincoln that was struck on a Netherlands 10C planchet. So probably a legitimate attempt to correct a legitimate error.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Andy- same language used on this other ‘overstruck’ Lincoln Cent on a struck Netherlands 10C. It’s obviously a double denomination too, just not described as such.
Lincoln dies are struck over a reeded collar struck foreign coin. It is quite nice & enjoyable to look at.
Many years ago I collected up USA struck foreign coinage.
Here's three 1/10 Guilden minted in 1942 at San Francsico Mint I bought at Hallenbeck's in 1995
Oh, yours is on Nederlands, not Nederlands' East Indies. I don't have that one.
Fun Stuff !
Congrats on adding this mystery Cent to your collection !
You have an interesting journey ahead making sense of the Bad Penny
neat auction. quite a few interesting pieces that passed on to new hands. I must have been asleep at the wheel, because I missed it. will be watching to see what shows up in inventories. still have a few pieces I would like to add to my collection in 2022. mainly a 50c on 5c, 50c on 10c, and 50c on 1c. we shall see what I end up with in December.
The Heritage Auctions usually have interesting proof and mint state error coins!
This piece is insanely cool!
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
It’s great that Lincoln’s bust is so strong!
Yes Andy purchased a wild double denomination from 2 countries with great detail!