@Catbert said:
Another factor is time. Has the coin been listed for awhile? Assuming the price is too high for the market, it will sit unsold. The timing of your offer could have an effect in your favor. Perhaps wait for time to pass along with the previous suggestions on how to approach the dealer.
Maybe it's thinly traded, but if it was a good buy it would be gone by now. There are some who think that every coin in their case is PQ+++. How does it compare to other stuff he's selling?
But it was "gone" when the OP checked with the dealer, so maybe it was a "good buy".
If there was one good buyer they connected sooner rather than later. If more than one what took so long?
No harm in making an offer. Usually the worst that can happen is that the seller says no or even hell no.
Anyway the OP still has his $7K so there's that.
How did you reach the conclusion that it “took so long” for the coin to sell?
The OP posted on the 17th and who knows how long it was there before that. Some stuff that people want sells within minutes of being posted. I bet some folks look on some dealers' site multiple times a days. Not sure if the dealer who had the coins was one of those frequently visited sites.
The OP posted on Sunday and the coin sold Tuesday, at the latest. But we don’t know how long it was available for sale. Maybe it took “so long” to sell and maybe it didn’t. Either way, depending upon various factors, many nice, reasonably priced coins fail to sell quickly, even in good markets. Right or wrong, the consensus appears to be that the coin looks nice, was reasonably priced and that the OP might have underestimated a fair retail price. The good news is that he gained knowledge in the process.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I have a coin on E-Bay that i believe is worth around $7000-7500 in today's market. I have the coin listed at $8999.
I probably would sell the coin @ $8500? Not lower. I expect the coin to sit awhile. Thus, I am not a real motivated seller.
If someone asked why so is the coin priced so high... I would tell the truth that I am happy to sit with the coin. I am simply letting viewers know that the coin is in inventory.
I like the coin. Not real love...but I have just started dating. Sometimes you're sorry about the one that got away.
As I always say, Should the market turn down, I will have no regrets however my coins will be my daughter's problem.
@MFeld said:
Maybe it took “so long” to sell and maybe it didn’t. Either way, depending upon various factors, many nice, reasonably priced coins fail to sell quickly, even in good markets.
Based on comments in this thread, a lot of people probably stopped looking as soon as they saw the price.
To answer a couple of the questions for me in the above posts:
I specialize in mint state Lincoln Cents, but as I approach completion (a couple of them are Unobtanium), I decided to add a type collection of cents prior to Lincoln. There is an earlier post I started concerning a 1797 Draped Bust in MS65 that I recently acquired. That coin cost a whole basket full of money, but I always wanted a 1700's piece with high appeal and nice provenance and it fit the bill. Plus the 3 pieces prior to that type in the set are Unobtanium to me in AU or mint state. All the type cents after that can be had without too much pain. Not an expert in early copper but learning. After the education I received in this discussion, I guess I should have picked up this coin, but I was blinded by price guides and auction history versus asking price.
The statement I made "...since I don't focus on Morgans and Gold, I was unaware." referred to the fact that I learned the Star City registry sets are mostly Types, Morgans and Gold which I don't normally do so I was unaware of the significance of Star City coins. But my bad for not researching it when I first saw it on the coin holder.
Comments
That was a very nice piece. Outta my league, but still a very nice coin!
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JA likely remembers the coin. Maybe call him and ask his opinion.
The OP posted on Sunday and the coin sold Tuesday, at the latest. But we don’t know how long it was available for sale. Maybe it took “so long” to sell and maybe it didn’t. Either way, depending upon various factors, many nice, reasonably priced coins fail to sell quickly, even in good markets. Right or wrong, the consensus appears to be that the coin looks nice, was reasonably priced and that the OP might have underestimated a fair retail price. The good news is that he gained knowledge in the process.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
All's swell that ends swell.
I have a coin on E-Bay that i believe is worth around $7000-7500 in today's market. I have the coin listed at $8999.
I probably would sell the coin @ $8500? Not lower. I expect the coin to sit awhile. Thus, I am not a real motivated seller.
If someone asked why so is the coin priced so high... I would tell the truth that I am happy to sit with the coin. I am simply letting viewers know that the coin is in inventory.
I like the coin. Not real love...but I have just started dating. Sometimes you're sorry about the one that got away.
As I always say, Should the market turn down, I will have no regrets however my coins will be my daughter's problem.
Based on comments in this thread, a lot of people probably stopped looking as soon as they saw the price.
Huh loveless dating, but on eBay... Sounds more like you're trying to dump a side chick?
To answer a couple of the questions for me in the above posts:
I specialize in mint state Lincoln Cents, but as I approach completion (a couple of them are Unobtanium), I decided to add a type collection of cents prior to Lincoln. There is an earlier post I started concerning a 1797 Draped Bust in MS65 that I recently acquired. That coin cost a whole basket full of money, but I always wanted a 1700's piece with high appeal and nice provenance and it fit the bill. Plus the 3 pieces prior to that type in the set are Unobtanium to me in AU or mint state. All the type cents after that can be had without too much pain. Not an expert in early copper but learning. After the education I received in this discussion, I guess I should have picked up this coin, but I was blinded by price guides and auction history versus asking price.
The statement I made "...since I don't focus on Morgans and Gold, I was unaware." referred to the fact that I learned the Star City registry sets are mostly Types, Morgans and Gold which I don't normally do so I was unaware of the significance of Star City coins. But my bad for not researching it when I first saw it on the coin holder.
Regards,
HB