Gem DMPL Morgans Going to Japan??????

ricardouno

The following statement is made in the item description in this ebay coin auction:

"The majority of the GEM 66 DMPL Morgans have been going to Japan. So as time goes on, you won't see many of these being offered (as well as you won't see many of these being graded)."


Link to ebay auction

Could anyone comment on this statement and possibile implications of the above?

Thank you,

Richard

BlindedByEgo

Laura said it ergo it is correct.

BAJJERFAN

Disgusting and enuf to PISS the POPE OFF!! GRRR!! But then I heard her mention this a year or two ago that the best DMPL's were leaving the U.S. and I voiced my general displeasure at that time too!!

EJB

.............Marketing.........Buy mine NOW...NOW.....NOW.....The people in Japan have always liked Cowboy stuff, but I don't see any big flood of Morgans going to asia.........IMHO....................

michael

pre 1915 federal proof gold coinage and ten dollar indians are also going to nippon

Fletcher

I'll be buying that coin from Legend if it doesn't sell at auction. So, if you want it ... you better bid on it

SeattleSlammer

That's a really good price for such an exceptional coin.

Higashiyama

I would be curious to see the data on which this assertion is based. Also, a more precise definition of "majority". Does this simply mean that there are several active collectors in Japan making recent purchases? Is there a large collector/investor base in Japan? Is someone there trying to corner the market?

BAJJERFAN

Why would it be an assertion? I expect that she knows that they are going out of the country because she is shipping them out. IIRC most of the furriners were buying them for investments so maybe they will in due time come back.

100proof1957

test

lava

When you eliminate the common dates, there simply are not a lot of 66 dmpls to go around. So, it does not take a lot of collectors to make an impact on the dmpl market if a serious buyer comes on the scene and wants to hoard. The Hawaii housing market has far more availability than dmpl Morgans, and yet one Japanese man has had a huge influence on Hawaii real estate prices.

Yes, I think there is a market overseas for dmpl Morgans.

Having said that, I find the inclusion of that comment in the ebay listing a little strange. One the one hand, if the Japanese investors know what they are doing, then presumably they would have purchased the coin in the ebay listing. If, on the other hand, they do not know what they are doing then presumably the market is over-inflated so coins should not be purchased at the current levels. In this case, I think it is more a case that the coin was not seen in the market. Other sales by Legend alone show that.

The dmpl market is very healthy at all levels, it pays to buy the nice ones when the opportunity presents itself, and I generally agree that opportunities for nice dmpls do not come often, certainly at the 66 dmpl level, but also at the 65, 64 or 63 dmpl level, depending on the year.

Coxe

<< <i>When you eliminate the common dates, there simply are not a lot of 66 dmpls to go around. >>



And the 84-CC is about #2 or #3 as the most common above gem DMPL, with only the 80-S clearly being more common. There are about 100 really nice ones out there. It's a commodity coin.

Someone could corner the market in them for on the order of a million bucks, not too much, probably without being noticed for a while. DMPLs used to be very underappreciated for their relative rarities for most dates. They have come up over the past several years but a hoarder sucking them out of the market for reasonably low money would demonstrate how fragile the populations really are. A dedicated hoarder with even hundreds of thousands of dollars in focused buying could devastate segments of the DMPL market. I could go into specific dates, but won't labor it.

matteproof

About fifteen years ago, many of the very best and highly preserved vintage guitars (Les Pauls, Stratocasters, Telecasters, ES-335 etc) were snapped up by savvy Japanese collectors. At the time, these Japanese "investors" were buying American vintage and classic guitars at what seemed like absurd prices at the time.

Well, as you might suspect, many of those prices were not absurd after all. In fact, they were cheap. The key to the story is that the majority of those thoroughbred guitars have never been repatriated back to the U.S. And so, some of the best examples of American legendary guitars remain in Tokyo. I hope this is not the case with coins too. We seem to have developed a fetish for outsourcing what is precious. matteproof

Outhaul

Typical legend hype

Fletcher

<< <i>A dedicated hoarder with even hundreds of thousands of dollars in focused buying could devastate segments of the DMPL market. I could go into specific dates, but won't labor it. >>



I am in Based on what you are saying, if 100 of us on this board formed a conglomerate and each bought one or two high end DMPLs, we could signifcantly dry up supply and affect the market price. That makes sense to me ... why don't we try it??? I have been buying up only CC's, but what other dates and mints do you think we should snap up???

BTW, I own the domain name dmpl.org and can host it on my server... we can use that for our conglomerate.

longtimecollector

THEY GOTTA HAVE HIGH QUALITY EXAMPLES TO COPY !!!!!!!!!

mrearlygold

What's that smell?

shirohniichan

<< <i>I would be curious to see the data on which this assertion is based. Also, a more precise definition of "majority". Does this simply mean that there are several active collectors in Japan making recent purchases? Is there a large collector/investor base in Japan? Is someone there trying to corner the market? >>



You mean you're not the one cornering the market?!

PerryHall

<< <i>THEY GOTTA HAVE HIGH QUALITY EXAMPLES TO COPY !!!!!!!!! >>



I think you're confusing China with Japan.

islandcoins

Actually, I would not know about the majority, however, I do know from other dealers and some of our own clients that there are indeed some big investors in Japan buying up quality DMPL Morgans in PCGS holders exclusively. The people buying the coins and sending them to Japan seem to be focused on the west coast as per my own experience.

jayboxx

WOW! No one can look at this beauty with out screaming WOW at the very least!

I was able to restrain myself.

WTCG

There are several buyers based in Japan who are buying the better quality DMPL's in large quantities.

What's wrong with coins being sold to Japanese clients? If they are willing to pay the prices for quality coins then there will be a DMPL exodus to Asia.

Instead of complaining about Asians "taking over the market", Americans can do their part to keep DMPL's in America by paying top dollar for the better examples.

BAJJERFAN

<< <i>I am in Based on what you are saying, if 100 of us on this board formed a conglomerate and each bought one or two high end DMPLs, we could signifcantly dry up supply and affect the market price. That makes sense to me ... why don't we try it??? I have been buying up only CC's, but what other dates and mints do you think we should snap up??? >>




And help those foreign investors make a killing? YEAH RIGHT!! Shirley you jest!!

MORGANHUNTER2

Try to think back to the mid-late 80's when the Japanese were buying up SoCal realestate like it was filet mignon- paid high , and a few years later - sold very low.

A crew of Japanese 'investors' were buying up old Harley's in the early 90's (sold one of mine to a kid for 27K, I padi 1200 bucks for it), that person eventually bought close to 700K in Harleys and shipped them back to Japan- he made a killing I would bet- the bikes never came back.