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Do you think US Classic Coins Are Over Priced
Cougar1978
Posts: 7,623 ✭✭✭✭✭
So Cali Area - Coins & Currency
Do you think US Classic Coins Are Over Priced
This is a public poll: others will see what you voted for.
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Cougar1978
Posts: 7,623 ✭✭✭✭✭
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If recession hits next year worried they may fall. Just not much of a bidder on them at this time.
The market sets the price. If something that falls under the heading of "discretionary spending" is overpriced, it will experience a correction or sit in stock & not sell.
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My mind reader refuses to charge me....
Quality, rare items are hard to find and priced accordingly. Price guides have not caught up so pricing things is still a challenge when buying top end coins for the grade.
Successful BST with BustDMs , Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino (CBH's - 35 Die Marriage's)
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
I do think at this time bidding is more competitive for US Classic Coins vs Mods, World, and to a certain extent currency. But I don’t know about impact of possible upcoming recession.
Prices in general are high in all sectors... I do not see the classic coin market is out of line with the general economics at this time. Cheers, RickO
No, I voted "NO", as well.
You already said it in your heading, "Classic!"
These favorites are in a class of their own. And should be worth the higher premiums.
Esp. the certain ones in gem condition!
"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.The fact that prices can fall if/when there’s a recession doesn’t necessarily mean that coins are “over priced” now. I think many are, but that many others aren’t.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Some are and some are not depending how I look at it, fwiw
Priced just right according to market demand.
"For the wages of sin is death, but the free gift of God is eternal life in Christ Jesus our Lord" Romans 6:23. Young fellow suffering from Bust Half fever.
Not from where I sit. I think it's about right.
Disclaimer: I'm not a dealer, trader, grader, investor or professional numismatist. I'm just a hobbyist. (To protect me but mostly you! 🤣 )
Some are overpriced but most seem to be responding to supply and demand. The demand seems to be really strong right now, with some crazy prices realized by highly motivated bidders.
I voted, "no" yet dang it: I want a GD04 or better Chain Cent and they sure seem overpriced (compared to a few years ago)!
peacockcoins
Depends on the coin, but overall no.
The market is too large and too mature to have anything "overpriced" for very long. If you don't like the price, don't bid.
Location, location, location.
Take your Manhattan apartment and put it in Pakistan and I guarantee it sells for less.
The current prices are higher than I like so I haven’t been buying what I used to, but the market is large and not all segments are priced the same. So I’ve been buying what I think is priced better.
My current registry sets:
20th Century Type Set
Virtual DANSCO 7070
Slabbed IHC set - Missing the Anacs Slabbed coins
What I think are overpriced are higher grade moderns.
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
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Typically when people say "Overpriced", they mean "More than I want to pay". If buyers are voluntarily paying whatever they are for coins right now, they are correctly priced right now.
More highly priced is not synonymous with overpriced.
"Overpriced" or "Poor Value For The Money"?
Excellent point.
peacockcoins
I voted 'no'.
When I started my business in the late 70's, it was quite common to buy collectible stuff from the public every day. Pre '33 US gold, 3 or 4 pieces a week. As the decades wore on, the frequency decreased.
Of course, people only live for so long, so things became available at times. Using US gold just as an example, the buying frequency dropped to perhaps one or two a month by the late 90's, dropping again to maybe a piece every couple months after the turn of the century.
I think most collectible stuff has moved to stronger hands over the years, and the prices reflect that.
yes and no, I didn't vote.
I voted no. Higher priced is not overpriced. Simple as supply and demand. I believe as more Baby Boomers have more disposable income, purchase higher priced coins and hold onto them longer, the result is that prices increase to draw better coins back onto the market. In this market the prices have increased for most of the better material, which may go down a small percentage but IMO, are here to stay. So if you like it, buy it, you’ll be happy in the long run.
I vote. Maybe
With more folks wanting to collect there’s usually a learning curve as to what value is. Real or personal. Then there’s what intrinsic value is there to my collectibles. Getting burnt a few times usually helps with this problem. I’m going to throw out a little thought ( the kind I mostly think 😀) Perhaps there’s going to be an increase in the number of collectors who, having seen their crypto dreams or other investment crash, start looking for tangible assets. Something they can physically hold.Sure makes classic coins and heck even bullion look pretty good. Just the thoughts of this old time traveler. 🙏
🎶 shout shout, let it all out 🎶
In general, no. They might seem overpriced to you, but the market is what the market is. It doesn’t have to be rational, objective, or make any sense at all.
Or, as my wife says, “Why would anyone spend more than a dollar for a dollar?”
The price is the price. I do not think they are overpriced or underpriced. The market is the market.
I think pretty, CAC, PCGS coins are very strong and will stay that way for the most part.
Average looking coins have been hanging on for the ride and are currently getting off at the next stop.
BHNC #248 … 108 and counting.
Plan retool Classic inventory (Mostly sold sold out) next year perhaps some special area.
This. Some are overpriced, while others are GREAT values.
“I may not believe in myself but I believe in what I’m doing” ~Jimmy Page~
My Full Walker Registry Set (1916-1947)
https://www.ngccoin.com/registry/competitive-sets/16292/
With inflation at 40-year highs, I think that almost all asset classes will necessarily be subject to re-pricing, mostly to the upside.
I knew it would happen.
US coins tend to be overpriced relative to foreign coins anyways.
I have a whole inventory of under priced coins.
It's still early in the game or others would have come to the same realization and plundered my inventory.
You mean in the same way that filet mignon is overpriced relative to hamburger?
I don't know... I think the quality of non-US coins can be every bit the equal of US coins. The difference in price is due to demand.
So is the price of filet.
Sure, I agree. I think it's because of the quality of the cut. I don't think you'd have any problem finding a nice, choice non-US coin that's priced higher than a parking lot Zincoln.
edited to add... Instead of comparing filet mignon to hamburger, how about a comparison of a cut of beef vs. some other animal that is not as popular?
Yes. Compared to foreign coinage of the same era. Do I think that this will change anytime soon? No.
It still doesn’t make any sense to me that you can pick up good 19th Century French gold for barely any premium, but I’m not complaining.
They are only "Overpriced" when somebodey obviosly outbids you!
"When they can't find anything wrong with you, they create it!"
Are seated liberty dollars overpriced compared to three cent nickels?
I thought I saw “some bidet” and laughed out loud. I really agree with your statement either way 😂
🎶 shout shout, let it all out 🎶
If they are selling and moving then no. If they are sitting and hanging around then yes. As many above have said the market sets the price. I don't see nice coins listed for long.
Pocket Change Inspector
The pandemic got all kinds of people into coins. When people were stuck at home, they started looking for things to do and ways to spend money bringing in new collectors to the market. When shows started again, new faces started coming in that I had never seen before. These new collectors in the coin and bullion market are at least one reason for the higher prices because of increased demand. How long these new collectors are around remains to be seen but at least it's a good thing considering that one of the biggest complaints is that seasoned collectors worry about the hobby dying.
Good example. But but I think that Morgans are WAYYY overpriced compared to Seated Dollars. I can find multiple examples of almost any Morgan that I want, any day of the week, as long as I have the money. Many Seated dollars don't appear for years. Pop numbers and mintage figures are much lower than Morgans. And, PERSONALLY, I think Seated Dollars are FAR more attractive but that is simply MY opinion.
“I may not believe in myself but I believe in what I’m doing” ~Jimmy Page~
My Full Walker Registry Set (1916-1947)
https://www.ngccoin.com/registry/competitive-sets/16292/
That's why Morgans are priced as they are. Most people won't try to collect coins they can't find to buy.
This
You may be asking if people see a "market correction," but nothing sells that's "overpriced," by definition.
That’s probably true but then, by the same logic, why are Draped Bust Dollars so expensive? Very few of those are extant, too…
“I may not believe in myself but I believe in what I’m doing” ~Jimmy Page~
My Full Walker Registry Set (1916-1947)
https://www.ngccoin.com/registry/competitive-sets/16292/
Most people won't try to collect coins they can't find to buy.
That actually works for me as I have a limited budget.
One needs to look at the historical pricing of their specific area of interest before answering. When looking at silver commeoratives, heck, NO.