The one way market for moderns.
cladking
Posts: 28,701 ✭✭✭✭✭
There is a growing blackhole for anything modern. There are ads everywhere to buy
raw moderns yet no one seems to be selling much of anything.
What many people don't realize is that many of the moderns are not easily found raw
either. Advertising won't get you a lot of the kinds of coins that you don't see at coin
shows or in dealer stock.
One has to wonder what these new buyers will do when they realize that many of these
coins are not readily available. If they raise their buy prices I don't believe there will be
very much more getting offered to them, but what effect will this have on the dealers who
are slabbing the coins from the various raw coins? If there is no ready supply of raw then
the market will have to be content with what has already been slabbed and some of
those "moon money" prices on high grades might look a little more down to Earth. Where
will the supply for the growing demand come from?
We just may see a two way market for more moderns before much longer and it just might
look very much different than anyone imagines.
raw moderns yet no one seems to be selling much of anything.
What many people don't realize is that many of the moderns are not easily found raw
either. Advertising won't get you a lot of the kinds of coins that you don't see at coin
shows or in dealer stock.
One has to wonder what these new buyers will do when they realize that many of these
coins are not readily available. If they raise their buy prices I don't believe there will be
very much more getting offered to them, but what effect will this have on the dealers who
are slabbing the coins from the various raw coins? If there is no ready supply of raw then
the market will have to be content with what has already been slabbed and some of
those "moon money" prices on high grades might look a little more down to Earth. Where
will the supply for the growing demand come from?
We just may see a two way market for more moderns before much longer and it just might
look very much different than anyone imagines.
Tempus fugit.
0
Comments
From coins in NGC holders at the same grade and PCGS holders of the undergrade.
<< <i>Where will the supply for the growing demand come from? >>
From Laura's stock, she has secretly been buying up top pop moderns for years! She will be the new marketmaker!!!
Yeadh--kinda like a toilet.
The modern flush toilet was invented by Thomas Crapper!!
TorinoCobra71
"Gimme Smoe That!"
Van Halen - PoundCake - For Unlawful Carnal Knowledge
very much more getting offered to them"
CK: Not entirely true. Bids were raised from low $2,000's to mid $8,000's on the 2004 Proof (4 pc) Plat set (on the sheet) and sets are now appearing. I bought another today in excess of $8,000 (and would buy a few more if offered to me today). These sets were selling for $2,495 from the US Mint in 3/05 - about 1 year ago.
Wondercoin
P.S. I need 1974 Proof Sets for another project. I am paying 50% OVER BID ($10.50/set) and I am finding sets now at that level. I could use about(500) more sets. Raising buy levels is resulting in coins coming out here again.
<< <i>". If they raise their buy prices I don't believe there will be
very much more getting offered to them"
CK: Not entirely true. Bids were raised from low $2,000's to mid $8,000's on the 2004 Proof (4 pc) Plat set (on the sheet) and sets are now appearing. I bought another today in excess of $8,000 (and would buy a few more if offered to me today). These sets were selling for $2,495 from the US Mint in 3/05 - about 1 year ago.
Wondercoin
P.S. I need 1974 Proof Sets for another project. I am paying 50% OVER BID ($10.50/set) and I am finding sets now at that level. I could use about(500) more sets. Raising buy levels is resulting in coins coming out here again. >>
A lot of the raw moderns are very inelastic to price either because they are
in short supply or because they have a set rate at which they appear. Perhaps
one dealer substantially increasing his price will gain a larger share of those
which do appear but it will have very little effect on the overall rate.
These have been appearing at a decreasing rate for many years. Where there
used to be no demand there are now numerous dealers seeking these to supply
a wholesale market. Collectors are demanding not only the pieces of the sets
but also intact sets and all the time the rate they come on the market is decreasing.
Even if all this new buying disappeared it would have little effect on the number
becoming available. If the prices went far higher it would have little effect on the
total number appearing.
MajorBigTime's commentary to the contrary, it seems highly unlikely that the buyers
are flushing any of this crap down the toilet. It is being accumulated. And now
many will see what we've been trying to say all along. This stuff is not as common
as widely believed and it is getting less common every day.