BIN killers really annoy me.
Russ
Posts: 48,514 ✭✭✭
1995 Silver Kennedy PR68DCAM. Larry had a BIN of $24.95 on this coin. As I'm cruising titles, I see this and jump in ready to pull the trigger, only to find some snarf already bid the whole $1 opening. Of course, that's all he bid. This coin was a screaming steal at 25 bucks. Bet a dollar to a donut he never comes back.
Russ, NCNE
Russ, NCNE
0
Comments
I have read many posts on here about the BIN, reserve, opening price, etc related points.
Most probably I am stupid but I can not sort out all of the combination of problems.
I thought a BIN price was just that..binding......
I had no idea that the BIN went away if someone bid over the offered opening price $0.01, or $1000.00 for example.
Am I just a lost sole here or is there a simple explanation a simple fellow might grab.
Thanks
1-Dammit Boy Oct 14,2003
International Coins
"A work in progress"
Wayne
eBay registered name:
Hard_ Search (buyer/bidder, a small time seller)
e-mail: wayne.whatley@gmail.com
If there is no reserve in the auction, the BIN disappears as soon as the first bid is placed. So, if the opening is $1, and somebody bids that opening, the opportunity to "buy it now" goes away. Too many people do that, and never come back. In other words, they weren't serious about buying the item.
If the auction has a reserve price set, the BIN stays up until the reserve is met.
Russ, NCNE
You made it seem simple to me who thought it was a secret.....
Thanks
1-Dammit Boy Oct 14,2003
International Coins
"A work in progress"
Wayne
eBay registered name:
Hard_ Search (buyer/bidder, a small time seller)
e-mail: wayne.whatley@gmail.com
1- BIN should be available for the first day, or until the first bid after 1 day
2- people should be sent an annoying reminder to bid bid bid if they killed a BIN with a fake bid.
I have killed BIN before, but usuall if I intend on coming back, I just don't want someone to take my item, but want to keep my bid low since I want to snipe the item... if it goes too high, then I won't return, so it may look like i am a heartless killer.
Jeremy
Russ, NCNE
"If I win this one, it will be back on ebay the minute I find a PR69DCAM to replace it."
<< <i>"If I win this one, it will be back on ebay the minute I find a PR69DCAM to replace it." >>
...so that Clark can buy the 68DCAM when I list it after replacing it.
Russ, NCNE
Thanks, Russ. And, to save us both some trouble, I just sent you my ATM card & PIN.
Clark
Dog--I noticed you've made your madness statement in bold. Guess some of the threads in the past few days have gotten to you.
I wish I could start an auction @ 1¢ with no reserve and put a crazy high BIN up, that wouldn't go away, just in case somebody had money burning a hole in their pocket and had to buy it NOW!
And I could get lots of bids that look good when it hits on a search page, everybody likes no reserve auctions because they might actually get a bargain, lots of views showing on the hit counter so everybody thinks everybody else is after it and bids strongly.
@#$%, just can't have the best of both worlds. WHY NOT??
The only thing necessary for evil to triumph is for good men to do nothing.
But leave out the part about how his BIN was set way too low!
An open mind will support transformation.
Recognize life is full of change
and celebrate the opportunity.
"There is always a way to collect,Never surrender the hobby"
I dropped him a line as soon as I saw it. He's a great guy who frequently has yummy stuff I'm interested in. I got one of my PR68DCAM 1970's from him at a screaming good price, and it is so, so close to 69 I'm seriously thinking about sending it in for regrade.
And, yes, I told him that he had set his BIN way too low.
Russ, NCNE
For some life lasts a short while, but the memories it holds last forever.
-Laura Swenson
In memory of BL, SM, and KG. 16 and forever young, rest in peace.
I think those be fightin words. You have some real DieHard Kennedy collectors here who just don't want to think about that!!!
Russ, NCNE
I didn't mean for the post to be fighting words. I only call them the way I see them. The '95 Silvers are flying out of PCGS and the prices are on the fall. New collectors are not coming to the series fast enough to absorb the supply. Wait a year and buy the PR-69 DCAM for less than the $46 bid on the 68.
Russ-
I know you are new to this so, I'll give you a little history lesson. Two years ago, the common date Kennedy coins in PCGS PR-69 DCAM holders were selling on Ebay for $39.95 to $44. Now, you can regularly buy them on this auction, if you are careful, for $17 to $20. This decline is not over. I know you are a big Kennedy collector and I'm glad you find it fulfilling. However, it won't be financially rewarding.
BTW, two years ago, the 95 Silver was selling for half what it is today. The 1995 and 1997 silvers have held, and increased their value just fine.
You lost all credibility in the Kennedy proof series (not that you had any to begin with) when you made the following statement in your failed attempt to defend ICG:
<< <i>I will take the premium quaility 1969 PR-70 DCAM Kennedy in the ICG holder and keep the additional $600 the PCGS coin would cost in my bank account >>
That made it obvious to all that you should stick to Franklins.
Russ, NCNE
in for bars of dark chocolate candy. MMMMMMMMMMMM Bears are very fond of dark chocolate.
Bear
Camelot
Some of us humans are also pretty fond of dark chocolate.
Russ, NCNE
Camelot
Can you hear the loud laughter all over the country? Members with Proof Kennedy knowledge are breaking a rib over you last ridiculous statement about the 1995 Silver Kennedy! And you try and tell fellow Members that I am full of crap? Are you kidding me? Quit trying to lie to all our fellow Members. The 1995 Silver Kennedy PR-69 DCAM was selling on the Ebay auction for $150+, two years ago. The PCGS population more than doubled the past 2 years to a current Population of 269, with 32 higher. With only 370 total graded, that means that over 81% of the coins submitted to PCGS received a grade of PR-69 DCAM or higher. The price is down to $85 now. What happens when the submitted numbers grow to over 2,000 like the early date Kennedy coins? That price goes down faster than the NASDAQ. Telling people the price has doubled over the past 2 years.....man!
In my prior post I wasn't referring to coins that had just hit the market. Those were common date coins of 1977 through 1989. Those babies had been around a long time! Like you said, now they are down to less than $20! Soon...... $15
So, if you believe as you do about the PR-70 DCAM Kennedy as you say, then let us know just how many you do own. My guess.....0!
Oh, and you cannot buy the 95 silver in 69DCAM for $85 unless you get very, very lucky. Average selling price on your venue of choice - eBay - over the last 90 days is over $100, and reaching as high as $130.
<< <i>So, if you believe as you do about the PR-70 DCAM Kennedy as you say >>
The only thing I believe about the aforementioned coin is that you were completely lost in your valuation of same.
As far as PR70DCAMs go, I don't own any because I doubt very many are even true 70's, and even if they are, I don't think they're worth 20 to 30 times the next grade down.
Russ, NCNE
Which brings up another point. The Kennedy proof series is one of the most popular set registries. As long as that's the case, any downward trend in the commodity coins has a built-in floor. The silvers should maintain their value in high grade as long as the sets from which they're pulled stay strong, because they have a floor of their own outside of the registry.
The earlier coins in the series, 1964 through 1970, have been steadily climbing in high grade. In particular, the SMS coins, and the 1970.
All of which is essentially moot, since I don't collect the series as a profit vehicle.
Russ, NCNE
I respect both of your opinions. However I accept them as opinions and do research on my own.
Play nice for Gawds sake!
Bulldog
No good deed will go unpunished.
Free Money Search
I'm one of the absorbers you speak of. I like this series alot, regardless of the pops graded. Will it ever be expensive, who knows. I guess it's what you make of it. I've been saving for one of those $10,000 1964 SMS Kennedies for awhile, and I certainly hope they get cheaper. It isn't really about the resale price for me. As a series, I don't ever think the Kennedy halves will go "belly up" as long as there are those of us who think the coin is attractive, and those who fondly remember Pres. Kennedy (I'm sure not all do, but I loved that era in American history). I haven't seen the pops of AH dcams explode, and the dcam 65 SMS coins or the 1971 dcams will never be "common". I think an astute collector can assemble a fine set for well under $5000, and there are folks on these boards who've lost that much on a single coin. I think they're alot like Lincolns, it's a long series, there are some difficult coins, none of them qualify as "rare" except maybe the 1964 SMS coin, and they are very popular. Will one ever get rich collecting them? Probably not, there are simply too many coins, just like the Franklins, er, I mean Lincolns.
and it sets us apart from practitioners and consultants. Gregor
Some "bidder" bids $1.00 and that removes my ability to pay the BIN!! That s*cks!!!
What this current system does is rewards idiots who have no intention of buying the coin while punishing a serious collector from obtaining the coin at what he/she feels to be a good price.
ebay needs to consider this, IMHO.
Coppernicus
Lincoln Wheats (1909 - 1958) Basic Set - Always Interested in Upgrading!
Wasn't that you, compucheap, buying a 1995 PCGS Silver PR-69 DCAM for $88? That seems to be just $3 more than the $85 I said the coin was going for.
Russ' new Silver '95 Kennedy
Now, isn't that a whole lot better than the 2nd rate PR-68 DCAM? Congratulations! I'm sure that will be a nice addition to your collection! Continue to watch the coin and you will see that you weren't that lucky. The coin will sell for that and less.