<< <i>The largest percentage of all modern coins that are slabbed are sold via large telemarketing companies or on TV to people who don't kbow the value and who are buying them because they are being hawked as goo deals. These sellers DO NOT buy the coins back which leaves the largest percentage of teh audience who buys moderns out in the cold. >>
This isn't true.
Certainly telemarketers have used all sorts of scams over the years to separate people from their money and they are now using moderns right along with the Morgan dollars and the sure fire silver stocks. Most of these are graded bullion or proof coins but still can be anything they can get in quantity or misrepresent as being more valuable than it is. Even here though don't assume that all these coins being sold in MS-69 or PR-70 are merely scams. In many cases the markups are such that they could simply be considered retail prices. There are many areas of the economy that 200% markups are typical. They are still selling Morgans this way as well and their existence hardly means no one should pay market prices for Morgans.
Where they cross the line into pure scam they are as likely to be selling classics as moderns.
It would even be more stupid to buy a cup of coffee late tomorrow morning with the money (and the large speciality coffees can cost more than some of the cheaper widget PR69 modern coins). Heads up coffee drinkers (wake up tomorrow and smell the coffee):
500,000 Cups Runneth Over; Starbucks to Serve More Than a Half-Million Cups of Complimentary Coffee across the U.S. During First-Ever Starbucks Coffee Break 9:00 AM EST March 14, 2006 More than 70 percent of Americans take at least one coffee break per day(1) and tomorrow, Starbucks Coffee Company (Nasdaq:SBUX) wants to treat those Americans to a great cup of coffee. Starbucks will host its first-ever National Coffee Break, inviting customers in for a complimentary cup of freshly brewed coffee, on March 15 from 10 a.m. to 12 p.m. In more than 7,500 stores, partners (employees) will pour tall (12-ounce) cups of coffee for surprised customers and delighted commuters.
Wondercoin
Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
500,000 Cups Runneth Over; Starbucks to Serve More Than a Half-Million Cups of Complimentary Coffee across the U.S. During First-Ever Starbucks Coffee Break 9:00 AM EST March 14, 2006 More than 70 percent of Americans take at least one coffee break per day(1) and tomorrow, Starbucks Coffee Company (Nasdaq:SBUX) wants to treat those Americans to a great cup of coffee. Starbucks will host its first-ever National Coffee Break, inviting customers in for a complimentary cup of freshly brewed coffee, on March 15 from 10 a.m. to 12 p.m. In more than 7,500 stores, partners (employees) will pour tall (12-ounce) cups of coffee for surprised customers and delighted commuters.
There are 5 count em 5 Starbuckies at the airport (IAH)- I can get all of my coffee free tomorrow. Well I actually get mine free anytime I want- I have a way with a few starbuck ladies- heheheh.
I must be one of those Eclectic Coin Collectors- I seem to have a vast amount of BOTH in my collections.
Hey Laura what is illiquidity? I did a google and found no such word- care to enlighten us oh Webster of the coinage posse!
I just looked at the pics of the 65DCAM sold at auction and compared it with a 1965 SMS half I have. Guess what, mine has more intense frost and the same mirrors. I guess I should have it slabbed, sell it for over $1,000.00 and then take the money and buy a "real coin".
Nah, I will just hold onto it for a while in the frozen arctic wasteland that is No. Cal. and let it hang out with its equally cold and frosty Silver Kennedy brethren and their equally cold and frosty neighbors, "The Franklins".
<< Who in their right mind buys a collectable with money they are going to need on such short notice? >>
Nobody. That's just one of her many strawman arguments.
%%%%%%%%%% Gee I didn't know there was a requirement that the coin had to be purchased less than a week ago. The liquidity or illiquidity that she is addressing could just as easily apply to a coin purchased a year or more ago. The point is that if you have a coin you bought 3 years ago that sheets at $3K and an emergency arises and you NEED $3K out of it by the end of today where are the best odds of getting that $3K?
Just to play a little bit of devils advocate here----- Russ, why didn't YOU bid on, and try to purchase, this coin in auction??? If it has so much legs under it wouldn't it have been a great coin to buy/hold/then flip?
cccccccccccccc Because there is nowhere to sell it unless you are actively keeping a want list for selected customers and chances are they watch eBay and other auctions just like you do. Its probly too risky to hope that you could sell it for a profit in 6 months.
If poeple buy moderns, that is simply that much less money that goes to buying earlier moderns! Every single coin was modern when they struck it. A few hundred years down the road, today's moderns will not be as modern. Collect what you enjoy, not what someone else tells you to enjoy.
President, Racine Numismatic Society 2013-2014; Variety Resource Dimes; See 6/8/12 CDN for my article on Winged Liberty Dimes; Ebay
<< <i>If poeple buy moderns, that is simply that much less money that goes to buying earlier moderns! Every single coin was modern when they struck it. A few hundred years down the road, today's moderns will not be as modern. Collect what you enjoy, not what someone else tells you to enjoy. >>
To claim that this is just a "conditionally rare modern" when it's actually a 42+ year old, proof-only, first year, unique die variety with all of these other attributes, is somewhat disingenuous, don't you think?
**A good example of why it's stupid to buy conditionally rare moderns**
I believe that was the title of the thread........... While not coming to Russ' defense........He is capable of his own resposes ...I will say that this might be just one example of a modern.........In a high grade.........?!?!?!.............JMO.......................
<< <i>Just to play a little bit of devils advocate here----- Russ, why didn't YOU bid on, and try to purchase, this coin in auction??? If it has so much legs under it wouldn't it have been a great coin to buy/hold/then flip?
cccccccccccccc Because there is nowhere to sell it unless you are actively keeping a want list for selected customers and chances are they watch eBay and other auctions just like you do. Its probly too risky to hope that you could sell it for a profit in 6 months. >>
I don't think, in over 30 years or collecting coins, that I ever once thought about buying or not buying a coin based on it being too risky to sell for a profit in 6 months. But thats just me.
To claim that this is just a "conditionally rare modern" when it's actually a 42+ year old, proof-only, first year, unique die variety with all of these other attributes, is somewhat disingenuous, don't you think? >>
Since I didn't make that statement, could you try again when you have a point?
<< Just to play a little bit of devils advocate here----- Russ, why didn't YOU bid on, and try to purchase, this coin in auction??? If it has so much legs under it wouldn't it have been a great coin to buy/hold/then flip?
cccccccccccccc Because there is nowhere to sell it unless you are actively keeping a want list for selected customers and chances are they watch eBay and other auctions just like you do. Its probly too risky to hope that you could sell it for a profit in 6 months. >>
I don't think, in over 30 years or collecting coins, that I ever once thought about buying or not buying a coin based on it being too risky to sell for a profit in 6 months. But thats just me.
xxxxxxxxxxx
Well the OP to this thread apparently doesn't have a lot of confidence that he will turn a nice profit in 6 months.
<< There are only a couple of circumstances under which I buy already graded coins. The first is if I think it's an upgrade candidate. The second is if I think I can flip it immediately for a profit. Neither applies in this case >>
the one person who loves this series will not buy a properly slabbed example with a ten foot pole unless it fits certain criteria.
the way i am reading this is: russ knows it aint worth the money. he is just happy it is going up, so when he does "make" another it will bring him profit.
the part another poster mentioned about it hardly being a common example to use to prop up your arguement is also telling about your strategy to convince us moderns are worth the money they bring in slabs.
all in all, i am less convinced now then i was before due to your own arguments. i will continue to read your posts and consider your thoughts.
<< <i>Well the OP to this thread apparently doesn't have a lot of confidence that he will turn a nice profit in 6 months. >>
I don't buy coins to hold for six months and sell. I either buy them to keep for my set, or flip immediately and use the money to try and find more coins for my set. Since very few coins can be flipped immediately for a profit - classic or modern - I buy very few of either. Get it now? Or is that still too complicated for you?
<< <i>the way i am reading this is: russ knows it aint worth the money. >>
You are, of course, wrong. What Russ "knows" is that all the same ignorant modern bashing drivel posted in this thread was being posted about this coin two years ago when it was selling for half as much as it is today. Sinking in yet?
<< <i>he is just happy it is going up, so when he does "make" another it will bring him profit. >>
Damn straight! Have any other startling revelations?
<< <i>the part another poster mentioned about it hardly being a common example to use to prop up your arguement is also telling about your strategy to convince us moderns are worth the money they bring in slabs. >>
See, this is what you get for relying on another poster. This coin is the perfect example of a conditionally rare modern. They are common in brilliant, and rare in Deep Cameo.
I don't buy coins to hold for six months and sell. I either buy them to keep for my set, or flip immediately and use the money to try and find more coins for my set. Since very few coins can be flipped immediately for a profit - classic or modern - I buy very few of either. Get it now? Or is that still too complicated for you?
<< <i>Get it now? Or is that still too complicated for you? >>
Nope; I posted it in spite of having read and remembered AND UNDERSTOOD your purchasing philosophy.
You are, of course, wrong. What Russ "knows" is that all the same ignorant modern bashing drivel posted in this thread was being posted about this coin two years ago when it was selling for half as much as it is today. Sinking in yet?
has anything that has the slightest eye appeal.. the slightest desirability..
not gone up in value in the last two years?
like every collectable the market will turn and i wonder which coins will drop the most percentage wise. which ones will sell for nothing on ebay while others stay strong and continue to bring good money relative to a bad market.
Maybe the buyers of such coins just want them and dont care how much money they throw at them. Maybe they need a tax write-off. I think we all were that way at sometime -wanting something no matter how high the price was--didn't Pittman just keep his paddle raised when he wanted to buy some coin? Never wavering- just kept it up? We have all done that at one time or another just kept our hand raised willing to buy an item at any cost. (even though we try to sneak bids in slowly, pretending to slow down,we have no intention of stopping?) Yes i think we have all done that at least once. myself included. i really dont care what someone else does with their money,its their money and they can waste it anyway they want. Bob
Comments
<< <i><< Somehow, I knew in advance this would be a sarcastic thread >>
When Russ is posting, I always start with that assumption and then change it as necessary (Which isn't too often >>
You guys are hurting my feelings.
Russ, NCNE
Ferengis got feelings?
<< <i>The largest percentage of all modern coins that are slabbed are sold via large telemarketing companies or on TV to people who don't kbow the value and who are buying them because they are being hawked as goo deals. These sellers DO NOT buy the coins back which leaves the largest percentage of teh audience who buys moderns out in the cold. >>
This isn't true.
Certainly telemarketers have used all sorts of scams over the years to separate people
from their money and they are now using moderns right along with the Morgan dollars
and the sure fire silver stocks. Most of these are graded bullion or proof coins but still
can be anything they can get in quantity or misrepresent as being more valuable than it
is. Even here though don't assume that all these coins being sold in MS-69 or PR-70 are
merely scams. In many cases the markups are such that they could simply be considered
retail prices. There are many areas of the economy that 200% markups are typical. They
are still selling Morgans this way as well and their existence hardly means no one should
pay market prices for Morgans.
Where they cross the line into pure scam they are as likely to be selling classics as moderns.
500,000 Cups Runneth Over; Starbucks to Serve More Than a Half-Million Cups of Complimentary Coffee across the U.S. During First-Ever Starbucks Coffee Break
9:00 AM EST March 14, 2006
More than 70 percent of Americans take at least one coffee break per day(1) and tomorrow, Starbucks Coffee Company (Nasdaq:SBUX) wants to treat those Americans to a great cup of coffee. Starbucks will host its first-ever National Coffee Break, inviting customers in for a complimentary cup of freshly brewed coffee, on March 15 from 10 a.m. to 12 p.m. In more than 7,500 stores, partners (employees) will pour tall (12-ounce) cups of coffee for surprised customers and delighted commuters.
Wondercoin
9:00 AM EST March 14, 2006
More than 70 percent of Americans take at least one coffee break per day(1) and tomorrow, Starbucks Coffee Company (Nasdaq:SBUX) wants to treat those Americans to a great cup of coffee. Starbucks will host its first-ever National Coffee Break, inviting customers in for a complimentary cup of freshly brewed coffee, on March 15 from 10 a.m. to 12 p.m. In more than 7,500 stores, partners (employees) will pour tall (12-ounce) cups of coffee for surprised customers and delighted commuters.
There are 5 count em 5 Starbuckies at the airport (IAH)- I can get all of my coffee free tomorrow.
Well I actually get mine free anytime I want- I have a way with a few starbuck ladies- heheheh.
I must be one of those Eclectic Coin Collectors- I seem to have a vast amount of BOTH in my collections.
Hey Laura what is illiquidity? I did a google and found no such word- care to enlighten us oh Webster of the coinage posse!
Or better yet, Starbucks coffee
CG
Nah, I will just hold onto it for a while in the frozen arctic wasteland that is No. Cal. and let it hang out with its equally cold and frosty Silver Kennedy brethren and their equally cold and frosty neighbors, "The Franklins".
You're RIGHT. I need my money NOW!!!! Every coin I own I could sell and get paid in ONE DAY!!! Just ask Heritage.
If someone needed money in 3-5 days from a coin, their 3-5 day money should be in the bank.
Nobody. That's just one of her many strawman arguments.
%%%%%%%%%%
Gee I didn't know there was a requirement that the coin had to be purchased less than a week ago. The liquidity or illiquidity that she is addressing could just as easily apply to a coin purchased a year or more ago. The point is that if you have a coin you bought 3 years ago that sheets at $3K and an emergency arises and you NEED $3K out of it by the end of today where are the best odds of getting that $3K?
Russ, why didn't YOU bid on, and try to purchase, this coin in auction??? If it has so much legs under it wouldn't it have been a great coin to buy/hold/then flip?
cccccccccccccc
Because there is nowhere to sell it unless you are actively keeping a want list for selected customers and chances are they watch eBay and other auctions just like you do. Its probly too risky to hope that you could sell it for a profit in 6 months.
President, Racine Numismatic Society 2013-2014; Variety Resource Dimes; See 6/8/12 CDN for my article on Winged Liberty Dimes; Ebay
<< <i>If poeple buy moderns, that is simply that much less money that goes to buying earlier moderns! Every single coin was modern when they struck it. A few hundred years down the road, today's moderns will not be as modern. Collect what you enjoy, not what someone else tells you to enjoy. >>
That's one nice Chevelle in your sig line!!!
<< <i>This one looks like it went bird hunting with Dick Cheney. >>
But it is still safer to hunt with V.P. Cheney then being in a car with Sen. Ted Kennedy behind the wheel.
your own statements are digging you in a hole.
To claim that this is just a "conditionally rare modern" when it's actually a 42+ year old, proof-only, first year, unique die variety with all of these other attributes, is somewhat disingenuous, don't you think?
heh
I believe that was the title of the thread...........
While not coming to Russ' defense........He is capable of his own resposes ...I will say that this might be just one example of a modern.........In a high grade.........?!?!?!.............JMO.......................
<< <i>Just to play a little bit of devils advocate here-----
Russ, why didn't YOU bid on, and try to purchase, this coin in auction??? If it has so much legs under it wouldn't it have been a great coin to buy/hold/then flip?
cccccccccccccc
Because there is nowhere to sell it unless you are actively keeping a want list for selected customers and chances are they watch eBay and other auctions just like you do. Its probly too risky to hope that you could sell it for a profit in 6 months. >>
I don't think, in over 30 years or collecting coins, that I ever once thought about buying or not buying a coin based on it being too risky to sell for a profit in 6 months.
But thats just me.
<< <i>russ,
your own statements are digging you in a hole.
To claim that this is just a "conditionally rare modern" when it's actually a 42+ year old, proof-only, first year, unique die variety with all of these other attributes, is somewhat disingenuous, don't you think? >>
Since I didn't make that statement, could you try again when you have a point?
Russ, NCNE
PCGS modern grading fee- $12.00
Sold on Ebay sight unseen for- $1013.00
PCGS Registry Set Concept- Priceless
<< <i>Raw deep cameo Kennedy half- $22.00 >>
I'll buy all the raw deep cameo Accented Hair Kennedys you can supply starting at a minimum of 10X that amount and moving on up depending on grade.
Russ, NCNE
<< <i>Raw deep cameo Kennedy half- $22.00
PCGS modern grading fee- $12.00
Sold on Ebay sight unseen for- $1013.00
PCGS Registry Set Concept- Priceless >>
You can do far better.
Rare special issue from circulation- Face value
PCGS modern grading fee- $12.00
Sold on Ebay sight unseen- $80,000.00
Watching Bashers squirm- Priceless
Russ, why didn't YOU bid on, and try to purchase, this coin in auction??? If it has so much legs under it wouldn't it have been a great coin to buy/hold/then flip?
cccccccccccccc
Because there is nowhere to sell it unless you are actively keeping a want list for selected customers and chances are they watch eBay and other auctions just like you do. Its probly too risky to hope that you could sell it for a profit in 6 months. >>
I don't think, in over 30 years or collecting coins, that I ever once thought about buying or not buying a coin based on it being too risky to sell for a profit in 6 months.
But thats just me.
xxxxxxxxxxx
Well the OP to this thread apparently doesn't have a lot of confidence that he will turn a nice profit in 6 months.
<< There are only a couple of circumstances under which I buy already graded coins. The first is if I think it's an upgrade candidate. The second is if I think I can flip it immediately for a profit. Neither applies in this case >>
the one person who loves this series will not buy a properly slabbed example
with a ten foot pole unless it fits certain criteria.
the way i am reading this is: russ knows it aint worth the money. he
is just happy it is going up, so when he does "make" another it
will bring him profit.
the part another poster mentioned about it hardly being a common example
to use to prop up your arguement is also telling about your strategy to convince
us moderns are worth the money they bring in slabs.
all in all, i am less convinced now then i was before due to your own arguments.
i will continue to read your posts and consider your thoughts.
thanks for a great thread.
<< <i>Well the OP to this thread apparently doesn't have a lot of confidence that he will turn a nice profit in 6 months. >>
I don't buy coins to hold for six months and sell. I either buy them to keep for my set, or flip immediately and use the money to try and find more coins for my set. Since very few coins can be flipped immediately for a profit - classic or modern - I buy very few of either. Get it now? Or is that still too complicated for you?
<< <i>the way i am reading this is: russ knows it aint worth the money. >>
You are, of course, wrong. What Russ "knows" is that all the same ignorant modern bashing drivel posted in this thread was being posted about this coin two years ago when it was selling for half as much as it is today. Sinking in yet?
<< <i>he is just happy it is going up, so when he does "make" another it
will bring him profit. >>
Damn straight! Have any other startling revelations?
<< <i>the part another poster mentioned about it hardly being a common example
to use to prop up your arguement is also telling about your strategy to convince
us moderns are worth the money they bring in slabs. >>
See, this is what you get for relying on another poster. This coin is the perfect example of a conditionally rare modern. They are common in brilliant, and rare in Deep Cameo.
Russ, NCNE
<< <i>Get it now? Or is that still too complicated for you? >>
Nope; I posted it in spite of having read and remembered AND UNDERSTOOD your purchasing philosophy.
Looking for Type Coins for my Dansco #7070....Got anything? PM me.
My Type Set Thread (In Progress)
has anything that has the slightest eye appeal.. the slightest desirability..
not gone up in value in the last two years?
like every collectable the market will turn and i wonder which coins
will drop the most percentage wise. which ones will sell for nothing
on ebay while others stay strong and continue to bring good money
relative to a bad market.
I think we all were that way at sometime -wanting something no matter how high the price was--didn't Pittman just keep his paddle raised when he wanted to buy some coin? Never wavering- just kept it up? We have all done that at one time or another just kept our hand raised willing to buy an item at any cost. (even though we try to sneak bids in slowly, pretending to slow down,we have no intention of stopping?) Yes i think we have all done that at least once. myself included.
i really dont care what someone else does with their money,its their money and they can waste it anyway they want. Bob