LB show - What dealers are buying / not buying !

DesertLizard

One of the things that amazed me is the volume of raw coins dealers had out, some by the bucket, literally. Lots of Barbers, Morgans, Buffs, Peace, etc. Of course they were all heavily circulated and not slab material. For you currency lovers I saw several dealers with stacks and stacks of crisp $2 and I do mean stacks, dozens of them.

Then there were the dealers selling the Franklin Mint type stuff which is nonnumismatic and borders on collector / consumer fraud. The sterling silver commemorative set proofs of Elvis....

Anyway, as I sat at a variety of tables there were people coming by asking if dealers were interested in buying state quarters [emphatic but polite NOs], silver certificates [no again], untoned unslabbed circulated silver dollars [more NOs]. What on earth were dealers buying?!!!

SLabbed, NCG/ANACS/PCGS MS65+ [especially MS67+] material. Why I inquired....is anything less than MS67 not sellable? Apparently, inventories are large when it comes to run of the mill slabbed coins. Margins are slim to non existant. No dealer wants to get stuck hold a MS65 Morgan with pop #s in the hundreds. It could take weeks if ever to sell and make a profit. So if you had / have a Commemorative in MS66 with nice toning you may be able to sell it.

Very valuable information if you are starting to collect with an eye to sell in the future. Buy quality and scarcity!

Back tomorrow for day 3!!

CLASSICS

thanks for the information.

michael

very astute of you!!!!!!!!!!!!! that was a great post yes yes high grade low pop now of course with the caviet the coin must be all there and if so then these are great coins!!!!!!!

now there arre also other great coins also like clean super eye appealling barbers in hi end xf and indians in hi end xf also the list goes on and on

soooooooooooooooo the dealers are looking to only buy great! coins

only buy great coins

there are 5 types of coins

crappy
average
good
very good
great

only buy great coins!!!!!!!!!!

sincerely michael wow that was a super great post if i ever seen someone give a commentary on the real state! of the market in such a short superbly well written post it is you desert liz!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!1 simply incredible and astute wow and wild!

kranky

Great post.



<< <i>Anyway, as I sat at a variety of tables there were people coming by asking if dealers were interested in buying state quarters [emphatic but polite NOs], silver certificates [no again], untoned unslabbed circulated silver dollars [more NOs]. >>



I suspect this would be the type of material offered to dealers from the public at just about every show anywhere.

coingame2000

I've been a full-time professional numismatist (who is currently set-up at the Long Beach coin show) for THIRTY years and the advice you gave forum members is right on target!!!!!!

Best Regards,

Mike De Falco

gsaguy

Good post DL!

I buy what I like and I don't like most of what I see on the floor.

I've always been one to believe in buying quality, not quantity and personally, I think that logic would serve the average collector well.

To me, it pays to buy those special coins that you rarely see offered for sale. They're rarely offered for sale because, well, they're rare for one, and they typically fall into strong hands and don't come on the market often.

Wait, watch, ask, chase, and you'll be able to track them down and acquire them. Yes, they'll be expensive (or at least seem so when you purchase them) but they'll typically be the coins everyone, including the dealers, want to purchase from you. As the saying goes, "you'll sometimes pay too much for the right coin, but you'll ALWAYS pay too much for the wrong coin.

Good luck at the show.

GSAGUY

coynclecter

I took about 10 coins to Long Beach to sell. 2 PCGS generic gold, about 8 NGC commems, all 64,65 material, including the Huguenot and California I've mentioned in previous threads. The first two dealers weren't very interested but the third, Harry Laibstain bought the whole lot about 5% back of bid. I spent the rest of the show talking to forum members and looking for recently graded PCGS material. I found a few but most dealers thought they were undergraded and priced them almost the next grade so I ended up with a state quarter book for my kid and went home early, so did most of the dealers.

Fun time as is every show

Coyn

MrLee

Coynclecter, sorry we missed you there. I too was unable to find the coins I was looking for. There's always Anaheim and Buena Park.

wingedliberty

I hear that modern commems are really active. I was at the Tampa,Fl show last week,
Modern commems were on fire. So were Barbers(all grades!!,), what else is new!!


Brian.