POLL: Does it make sense to bid strongly in the upcoming Heritage auctions?

Barry

The bull-market in coins has brought an amazing array of rare coins out lately, including the upcoming Heritage auction. Does it make sense to bid strongly at what may be a market peak, or does that pretty much guarantee taking a bath when trying to sell in the future (as it is for anyone who bought in 1989)?

I set up a poll for those who just want to say yes or no, bu please feel free to comment as well.

mr1931S

Rare coins that appear in amazing quantities suggest to me that a bath is in the future for some.

greghansen

I believe we are in a strong demographic trend that will continue for the next 15-20 years. Just take a look at the age/sex of your average collector and stop to think about what is going to happen to that group as the baby boomers age/retire. There should be periods of consolidation and even profit taking in the truly rare & collectible coins. I believe, however, that the underlying collector base is growing and that small increases in the collector base can and will cause significant increases in those coins that are gunuinely rare and desireable. I'm not trying to puke on anybody's area of interest, just laying out the argument that consolidation and/or profit taking will appear first and most deeply in those series/coins where supply can catch up with demand. I'm pretty sure they aren't going to make any more ED's and or DCAM early Franklin proofs so I'm not worried about supply overwhelming the market in those areas.

BAJJERFAN

I would hope that anyone buying a coin for $100K or more wouldn't/shouldn't be worried about taking a bath on it in the future!!

IrishMike

Depends is the simple answer. If you have deep pockets there are some barbers there that are top pops, others that don't often come available. If you have the dough and want the coins then this might be the only opportunity for some of them for a long time. In other words if you don't care if there could be some declines in the next couple of years and it won't affect your life style then go for it. If this is money you might need then I'd be cautious. I have to believe the prices for some of those barbers is going to be big.

Regulated

I will be there bidding strongly for items that I believe are good opportunities. People who aggressively bid on stuff will probably live to regret it.

Baley

Depends. If someone is looking to obtain a major rarity, and win a coin that only appears once every decade or two, they are going to need to bid moon money to get the coin. If they in turn intend to keep it off the market for another long period of ownership, what does it matter what prices do in a month or year?

IF on the other hand, someone intends to pay moon money and flip it for even "mooner" money, they are certainly taking a chance that the music will stop unexpectedly (or, perhaps, "expectedly" ) and they may get left holding the bag (to mix metaphors rather badly)

TUMUSS

Bear

Most people bid strongly. I think the question should have

been worded "bidding moon money". I favor strong bids, but for

the average or a bit better than average collector, moon money

for expensive coins is not prudent. If one has pockets full of cash

and a very comfortable income stream, then bid away and enjoy.

RYK

For the trophy coins, one will need strong money to get them. For the usual crap, weak money (as always) will prevail. For the scarce and nice coins (I have been looking at a lot of nice coins from the Cincinnati Collection), strong money should be necessary to win the coin. I expect it to be just like it has been over the last couple of years without real exception.

Newmismatist

<< <i> Does it make sense to bid strongly in the upcoming Heritage auctions? >>



Only if you want to buy the coin

cohodk

I think everyone should bid strongly on the coins I have consigned

Julian

I will be there bidding strongly for items that I believe are good opportunities.
People who aggressively bid on stuff will probably live to regret it.

Unless this was tongue-in-cheek, it doesn't seem to make much sense to me, David.

I am unable to tell what is going to happen tomorrow with the price of coins and I have been through some pretty unusual markets, in the past. I continue to encourage my clients to add to their collections, in both strong and weak markets, just for that reason, that we cannot tell the future.

The rarer the item, the less frequently seen that it is, then you must be aggressive when the opportunity arises.

What would you pay for the Strawberry Leaf, that was sold for the first time in over 60 years? At over $400K, it was probably a bargain.

On the other hand, a MS 64 84-cc dollar is not quite of the same urgency.

Pace yourselves and put your intelligence, as well as your experience, to the best use, when going after additions to your collections.

jdimmick

I think its going to take extremely strong money to buy the good stuff from these auction sale's, whether or not prices continue to hold,decline or even possibly continue to rise is any ones guess. I say if your worried about market conditions after you placed a bid, then dont biD!!

lloydmincy

I've said this before and I will say it again. The "players" with the big dollars are not concerned about what the coin market will do in the future.

The 2005 FUN sale, which Heritage is the primary focus, to me is not any big deal compared to other FUN auctions. Yes, the lots available are overwelming, but unless you are a Morgan collector, Large Cent or Barber series collector, most everything else is not too impressive. This is only my opinion, but it is no different than other FUN sales that usually have a series or two that is a must for that particular collector, and then a lot of "basic" stuff.

2003 had the best IHC and FLying Eagles. Every year, a big series show up.

-------Lloyd