Anybody watching the last day of SB Auctions today?

DelawareDoons

Blown out of the water left and right. Holy cow! Who are these people buying these semi-common coins for thousands of dollars? Jeeze.

Catbert

I paid strong money for 2 coins in the first day of auctions. Perhaps, as @Gazes asserts, coins are a decent haven for investment not the least of which during inflationary times?

willy

I bought one coin for strong money yesterday but passed on 3 others that 3 weeks ago I would have pursued further. I was looking at some of the increases in the PCGS price guide and they have gotten way up there. PCGS pricing is a lot higher than some of the recent auction prices and CAC on the issues I have looked at.

The up coming recession has me already cutting back on discretionary purchases. I can wait for some deals that will be coming up in the next couple of years.

amwldcoin

Perhaps I would be if their website didn't kick me off. Quite surprised they are still having issues actually. My last invoice with them was over 50K! Sorry for the folks that had coins I might have been interested in!

DelawareDoons

I'm talking about 1881-S in 66 rattlers going for $$2k. What the heck. Saw it in hand, don't think it's an 8, just a strong 7, and don't think it'll gold CAC myself, but I've been wrong before...

https://auctions.stacksbowers.com/lots/view/3-WZK8R/1881-s-morgan-silver-dollar-ms-66-pcgs-ogh-first-generation

skier07

@DelawareDoons said:
I'm talking about 1881-S in 66 rattlers going for $$2k. What the heck. Saw it in hand, don't think it's an 8, just a strong 7, and don't think it'll gold CAC myself, but I've been wrong before...

https://auctions.stacksbowers.com/lots/view/3-WZK8R/1881-s-morgan-silver-dollar-ms-66-pcgs-ogh-first-generation

Overly optimistic buyers with old holder fever is a winning combination for sellers.

jmlanzaf

@Catbert said:
I paid strong money for 2 coins in the first day of auctions. Perhaps, as @Gazes asserts, coins are a decent haven for investment not the least of which during inflationary times?

My car broke when I put the Buff nickels in the gas tank. I tried to pay the garage with Barber Quarters but they wouldn't take them.

jmlanzaf

@Catbert said:
I paid strong money for 2 coins in the first day of auctions. Perhaps, as @Gazes asserts, coins are a decent haven for investment not the least of which during inflationary times?

All kidding aside, look at the 1979 to 1981 period on the PCGS 3000. That was the period of double digit inflation. The index went from 45,000 to 25,000.

But it's different this time...

BillJones

@jmlanzaf said:

@Catbert said:
I paid strong money for 2 coins in the first day of auctions. Perhaps, as @Gazes asserts, coins are a decent haven for investment not the least of which during inflationary times?

All kidding aside, look at the 1979 to 1981 period on the PCGS 3000. That was the period of double digit inflation. The index went from 45,000 to 25,000.

But it's different this time...

And then things came crashing down after that. I was an active collector then and priced out of the market.
You had the foolish concept of the “collector market” (lower grades) and the “investor grade market.” If you are paying over melt, and the prices are too high for collectors, who are the ultimate consumers, where do you think the hyper priced “investors’ market” is going to go?

Gazes

@jmlanzaf said:

@Catbert said:
I paid strong money for 2 coins in the first day of auctions. Perhaps, as @Gazes asserts, coins are a decent haven for investment not the least of which during inflationary times?

All kidding aside, look at the 1979 to 1981 period on the PCGS 3000. That was the period of double digit inflation. The index went from 45,000 to 25,000.

But it's different this time...

Educate yourself about specific coins, grading, specific series, etc----i dont know any knowledgeable coin collector or investor who buys coins based upon the pcgs 3000 index. A sharp eye and knowledge are needed---coins are not like buying an index fund. If you dont have the desire to put in the time, then a stock index fund is a better option for you.

jmlanzaf

@BillJones said:

@jmlanzaf said:

@Catbert said:
I paid strong money for 2 coins in the first day of auctions. Perhaps, as @Gazes asserts, coins are a decent haven for investment not the least of which during inflationary times?

All kidding aside, look at the 1979 to 1981 period on the PCGS 3000. That was the period of double digit inflation. The index went from 45,000 to 25,000.

But it's different this time...

And then things came crashing down after that. I was an active collector then and priced out of the market.
You had the foolish concept of the “collector market” (lower grades) and the “investor grade market.” If you are paying over melt, and the prices are too high for collectors, who are the ultimate consumers, where do you think the hyper priced “investors’ market” is going to go?

I think you are referring to the 89 crash. Once inflation dropped and the Reagan rebound started, prices surged. Then the investment funds started in the late 80s, prices went ballistic and then crashed.

jmlanzaf

@Gazes said:

@jmlanzaf said:

@Catbert said:
I paid strong money for 2 coins in the first day of auctions. Perhaps, as @Gazes asserts, coins are a decent haven for investment not the least of which during inflationary times?

All kidding aside, look at the 1979 to 1981 period on the PCGS 3000. That was the period of double digit inflation. The index went from 45,000 to 25,000.

But it's different this time...

Educate yourself about specific coins, grading, specific series, etc----i dont know any knowledgeable coin collector or investor who buys coins based upon the pcgs 3000 index. A sharp eye and knowledge are needed---coins are not like buying an index fund. If you dont have the desire to put in the time, then a stock index fund is a better option for you.

Again, you can think you can cherry pick, but the 3000 is an indicator of the market.

lilolme

@DelawareDoons said:
I'm talking about 1881-S in 66 rattlers going for $$2k. What the heck. Saw it in hand, don't think it's an 8, just a strong 7, and don't think it'll gold CAC myself, but I've been wrong before...

https://auctions.stacksbowers.com/lots/view/3-WZK8R/1881-s-morgan-silver-dollar-ms-66-pcgs-ogh-first-generation

From photo (and not in hand as you saw it) that is really clean looking. I think I see some surface stuff or initial toning so someone might be thinking to 'lift' that off and make it pop even more. Or as you suggested the 'gold' sticker. As we have seen 'gold' sticker and old older = $. Why no sticker now? Consigner said no or no go?

DelawareDoons

@lilolme said:

@DelawareDoons said:
I'm talking about 1881-S in 66 rattlers going for $$2k. What the heck. Saw it in hand, don't think it's an 8, just a strong 7, and don't think it'll gold CAC myself, but I've been wrong before...

https://auctions.stacksbowers.com/lots/view/3-WZK8R/1881-s-morgan-silver-dollar-ms-66-pcgs-ogh-first-generation

From photo (and not in hand as you saw it) that is really clean looking. I think I see some surface stuff or initial toning so someone might be thinking to 'lift' that off and make it pop even more. Or as you suggested the 'gold' sticker. As we have seen 'gold' sticker and old older = $. Why no sticker now? Consigner said no or no go?

The same seller consigned pretty much all of the rattlers/ogh/fatty/ana in this weeks auctions, from what my contacts told me.

I think they probably told Stacks, only send the high end stuff or stuff you all think is shot gold. But that's pure speculation on my part, coulda just said "we don't care, do whatever".

I'm sure they're pleased... certainly got me looking at my collection and contemplating what kind of money I'd get if I sold.

ElmerFusterpuck

I watched and actually bid on the two nicely toned Morgans, but got blown way out of the water. The 1879-S NGC with the gold CAC looked like a monster and went for a monster price too,

LeeBone

Time to sell...

jmlanzaf

@LeeBone said:
Time to sell...

You only know that after it's too late. Hindsight is 20/20.