Slow Progress

itsnotjustme · February 17, 2003 2:09AM

Hi All,
I'm finding my progress on completing my 1792-1964 Copper/Nickel/Silver set is painfully slow these days. Finding attractive coins at reasonable prices is slow going. I see lot's of nice material, but often priced 50% above grey sheet! I buy the coin, but don't want to forget these will be sold some day (by my grand kids maybe!). Even lower grade material is going very high on price.

Luckily I had my proof Washington set to get an occaisional "fix", but I'm down to the last few of these also.

Are you all slowing as well?

braddick · February 17, 2003 2:58AM

You and me both brother.
I haven't run across a decent PO01 coin in weeks. . .

itsnotjustme · February 17, 2003 3:03AM

If I can score a PO01 coin in a future submission (Bust, Seated, or Barber) will you make it worth my while?

kieferscoins · February 17, 2003 3:11AM

I am having the same problem. The coins are so much more expensive now, and I have been contemplating selling alot of mine to put into another type of coin collection (slab collection).

Cameron Kiefer

MoneyLA · February 17, 2003 4:01AM

I wonder if the high prices and lack of new material coming to market indicates a "market top?"

Why a top? Because there are few sellers at these prices, indicating perhaps that they believe prices will go higher still. And as we all know from Wall Street, the majority is often wrong.

Thoughts? cheers, alan mendelson

braddick · February 17, 2003 4:02AM

<< <i>If I can score a PO01 coin in a future submission (Bust, Seated, or Barber) will you make it worth my while? >>

Check with Cameron (right below your reply and above mine).

I promise to do you right.

TomB · February 17, 2003 4:31AM

Many of the coins are out there, however, you just have to be willing to pay for them. Please don't take that as any type of slam because it isn't. It is as much a reflection of the price guides as anything else. If the guides do not keep up with the market in a realistic and timely manner then many good coins at fair prices will seem to be priced too high and will be passed on. Also, the complete type set, though great fun, is neither easy nor fast to complete if you want nice coins and are not blessed with unlimited income. It is not an instant gratification set. It requires patience. It requires fortitude. It is a marathon.

Again, I would like to stress that I am not slamming anyone here. I have been working on the complete type set for over half of a decade and am less than one third of the way there.

littlewicher · February 17, 2003 4:36AM

My CNS set has been coming along pretty slowly also. I just sent a submission in about 2 weeks ago, that will boost my set.

CarlWohlforth · February 17, 2003 5:09AM

I haven't added to my proof type set in more than half a year. That set might be down to 1 coin a year if I'm lucky...

jcping · February 17, 2003 6:30AM

Coins are out there in the market, but most of them are NGC coins.

After 50% completion of the grand-daddy type set, if you want to maintain GPA above 65.00, it is challenging.

itsnotjustme · February 17, 2003 9:33AM

I'm 50% of the CNS set, and I'm barely above a 59 average... high AU never mind gem average. I do have a few coins pulling the average down... a VG10, FN12, and XF40. I suspect without those 3 I would be 2-3 points higher. I may need to start buying some NGC coins and trying to cross them.

Typetone · February 17, 2003 2:03PM

JC:

Keep it above 65? You've got to be kidding. Maybe the first 50%, but after that, it's got to drop pretty fast unless you have the money of High Desert.

Greg

oldcameoproofsguy · February 17, 2003 2:20PM

I am more than just slow, I am at a stand still. I have to put some money into other endeavors right now. Hopefully, there will be an ebb in prices by the time I'm ready to start buying coins again.

Anyway, my Registry set only grows at about four coins a year tops.

tjkillian · February 17, 2003 11:18PM

TomB is right about having to pay. I really feel that the price guides (greysheet) are behind the times with flowing hair/draped bust/capped bust coinage. My complete type set is going very slowly now as well. I will be happy to get two coins a year! At first it was easy, but as you get to the 50% mark, it becomes very difficult. High grade? You've got to be kidding! Prices for coins prior to 1840 in uncirculated are at the moon. As you go earlier and earlier, the grade to buy keeps getting lower and lower. I don't think I'll ever be able to afford a chain cent in G-4! Because of all of this, I'm going to work harder on my indian cent collection. Since I only need/want one coin in RED (and I have it), I'm going to go for the rest of the set in BN or RD/BN.

Tom

keithdagen · February 18, 2003 3:45AM

I may need to start buying some NGC coins and trying to cross them.

Buy nice NGC coins, then instead of spending money on crossovers, register your set with NGC. They let you use both holders, and have a weighted Complete Type Set.

MoneyLA · February 18, 2003 3:59AM

Keith, Im doing the same thing now --- looking for NGC and even ANACS coins to cross. cheers, alan mendelson

Slow Progress

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