How long does a coin need to be on a dealer's site before you think the coin is not very good or pri

TahoeDale

All dealers maintain an inventory of coins--several hundred to over several million dollars. We see the ones they post on their web sites, and inquire about the ones with good images and pricing.

But what about the ones that stay up forever(like several months)?
Do you think that the coin is either out of favor, and/or just priced out of market reach?

Do you believe a low offer might buy the coin, where it hasn't had much interest? Or will the dealer just go to auction, rather than entertain an offer where there will be no profit(or a loss)?

I'd like to hear from some of the dealers, as well as any forum members that have had experiences with low offers for stale coins.

Bear

After 60 - 90 days, the coin becomes damaged goods.

It either has to be marked down, auctioned or sold at

a discount to a bottom fishing dealer. A well run dealership

will always attempt to keep their stock fresh. Sometimes, you

just have to take a small loss and free up your cash.

coinguy1

<< <i>...But what about the ones that stay up forever(like several months)?
Do you think that the coin is either out of favor, and/or just priced out of market reach?

Do you believe a low offer might buy the coin, where it hasn't had much interest? Or will the dealer just go to auction, rather than entertain an offer where there will be no profit(or a loss)?

I'd like to hear from some of the dealers, as well as any forum members that have had experiences with low offers for stale coins. >>

Once a number of months have passed, odds are good (though it's not a given) that the coin and/or price are off. I will say, however, that I have seen many perfectly fine, reasonably priced coins sit around and gather dust, for no apparent reason. And, ironically/incredibly, I have also seen multiple inquiries come in for some of those coins as soon as they have sold.

Certainly in cases where an inventory item is stale, the offering dealer might be more likely to accept an offer he might otherwise reject. And, if the dealer thinks the offered price is fair, he will be likely to accept it, rather than mess with consigning the coin to auction.

Coincidentally, I had started a thread on what I think to be a very similar topic on the US Coin Forum recently:

Are coins somehow tainted if they have been returned to your dealer by someone who had a shot before you did?

RYK

I have mixed feelings on the issue, but my overall experience is that there are no hard and fast rules.

Late December, I acquired two Dahlonega $5's from Pinnacle that were in the inventory seemingly since just after the ANA. They are among the two nicest Dahlonega coins that I own. There is absolutely nothing wrong with them, and the price was reasonable. I still cannot believe that they lingered as long as they did, but I am glad they were there when I was ready for them. It will be some time before they are on the market again.

Edited to add: The photograph of one of the coins was not very good. I am one that thinks a good photograph can help sell a coin and an unflattering one is detrimental--others do not share this opinion.

michael

one example of many hundreds i could give that could go either way but here goes

there was a coin i saw in a coin world ad about 4/5 years ago

i did not see the coin but from the description of grade and what the coin was i thought it was a really great fantastic neat unusual rare coin i called the dealer in question and they said it was sold and since it was in the coin world ad a month prior i knew they had the coin at least 7 weeks

one week later after saw it on another dealers web site and since it was a pop one coin at the same service and another service had none it had to of course be the same coin

my friend saw it and called the web dealer they still had the coin as it was being returned by a collector who saw it on approval and passed

my friend got the coin from the dealer sent to him after it was returned by the other collector that had rejected it and when my friend got the coin it was priced at a strong discount on the invoice before he even asked for one and they sent it in a special presentation case to boot

well i saw the coin and it was a total solid for the grade monster with a great look and killer eye appeal never seen as such for this date definately a one of a kind coin my friend bought the coin!!! and 4/5 years later as of today it is still pop one with none higher or lower at the service and still none at the other service!

and this coin from an obscure 19th century proof series usa federal coinage is liquid today at double what he originally paid and it is still an undervalued coin

go figure



michael

Reece

I had been looking at a New Orleans Half Eagle on David Lawrence web site for about 9 months before the FUN show it was a very nice high grade coin priced very fairly even had a 5% off during an end of year sale I saw it the first day of FUN and admired the coin in hand and thot to myself if it hasnt sold in nine months it wont sell in the next day!! Well I went back the next day and it was GONE I asked about it and JF said not 30 minutes ago a dealer bought it. he asked if I was interested in it and said yes, he says that takes the cake I have a coin on my web site for 9 months and within 30 minutes at the FUN show I could have sold it twice, he said that is the coin business.!! It just takes the right customer, nothing wrong with the coin.!!

ER

I have seen coins bouncing back and forth between Harry Laibstain and David Lawrence websites. What that means, I don't know.
Also, I've seen coins languishing on a dealer's website forever, disappeared for a while, then came back as "fresh" coins.

BAJJERFAN

<<"Also, I've seen coins languishing on a dealer's website forever, disappeared for a while, then came back as "fresh" coins.">>

Most likely means that they were purchased and returned IMO.

wayneherndon

Or consigned to an auction and did not meet reserve.

WH

MrEureka

It depends on the coin and it depends on the dealer. For example, if Heritage has an MS66 1885-CC Morgan in stock for months, they probably priced it too high. The market for the coin is very deep and their coins get lots of exposure to the likely buyers of that coin. On the other hand, I could have a piece of early copper for a year and not give it a second thought. That's because the market for those coins is thin and my inventory doesn't get enough exposure to the likely buyers of those coins.

michael

i second andy's thoughts..............................

RYK

Good point, Andy.