Keith, can you keep a secret? ((I know Wonders is a pretty decent guy. I like to give him a bit of grief every now and then- that's all. Hey, did he ever sell that PCGS MS65 1918/17 Buffalo?))
I've been out of town for several days looking at a collection - about 4 bags of 1974-P & D clad Ikes, and nearly 100,000 proofs from 1938-1971, including SMS!
Hopefully, we'll get a 66 or two out of the Ikes. TOUGH coins to grade!
I'd like to wrap this forum topic up. To answer previous question, the last 20 years, I don't recall anyone ever telling me, or me telling them, "I'll sell you this coin, but you can't tell people what you paid for it." I'm sure there are deals like that, but I have never had the experience.
I think a good rule of thumb can be that if one of us sells another a coin that the buyer chooses to post on this site, or any other public forum, the seller refrain from commenting, without prior agreement.
From my perspective, its all about client service. Ideally, when I sell a client a coin, service that is in the best interest of the client does not stop at point of sale. It is up to the new owner whether I take a back seat, front seat, or no seat at all regarding the pedigree of his coin, or any future public notices of his coin.
Mitch - you've got great mint state Washington quarters. Any debate points I raised were only in response to your initial comments on this forum topic. Bring the same points up on another topic, and a different coin other than the one you sold me, and I likely would not have responded.
..........THAT WAS SOME VERY INTRESTING READING,........TWO HEAVYWEIGHTS;.....TWO GUNFIGHTERS AT THE O.K CORRAL . I enjoyed the battle emensly ; both won because they both make a heck of a profit selling coins. Think about the poor sap that used to own the 20,000$ coins when they were raw, reading this egotistical rhetoric ; tears streaming down his cheeks. He sold them for a few hundred dollars at best ! I`ll bet he`d like to beat the snot out of both of you !!
Mr. Mike D; URGENT CONSUMER ALERT PERFECTOMANIA DOMINATES TODAY’S MARKET How to lose lots of money…GUARANTEED!
By Mike De Falco
Per-fect-o-mania (perfectomania) 1. The emotionally charged, sometimes ego-driven, always frenzied pursuit of super grade uncirculated and proof contemporary (post-1950) U.S coinage, certified MS68, PR68 or better, regardless of the asking price, without due diligence or prudent forethought. 2. A trend that will enrich numerous dealers and result in horrific losses for those collectors and investors who choose to participate. 3.A temporary anomaly.
In my twenty-eight year tenure as a full time professional numismatist (and fifteen years as an avid collector prior to that) I have never seen such flagrant nor exorbitant examples of OVER PRICING and DECEPTIVE advertising and promotion as that which is associated with the current mania for super high-grade modern U.S. uncirculated and proof mint products. In fact, it’s eerily reminiscent of the seventeenth century “tulip mania” wherein the price of tulip bulbs rose to such dizzying heights (up to $5,000 for a single bulb) that they lost all correlation to their comparative value with other goods and services. The bubble burst in 1637, the market crashed and prices never recovered! The very SAME thing will happen (I absolutely GUARANTEE it) with regard to “perfectomania”, which as I defined at the beginning of this article, as the frenzied pursuit of super high grade (MS and PR68 DCAM – MS and PR70 DCAM), or other alleged “condition” rarity contemporary (post 1950) U.S. coins.
I agree with you concerning 'mania, but at the same time, we all should have known that slabbing would create this environment. Pop. reports and the ideal of quantifying grade just drives people to to want the best. Condition rarity will always be controversial, especially with 20th century coinage and beyond. I would pay $50,000 for a certain Franklin if I had that kind of scratch!! Why? Because I want the coin REGARDLESS of it's worth. I will never grasp why anyone would pay lofty prices for modern proofs, because they all look the same to me. Mint-state coins are the real challenge because of the exposure to potential damage.
All anyone has to do is revisit the 1960's "S" mint proof coin mania when people were standing in line outside the mint and buy sets(I was one of those) only to watch those sets fall to below issue price some years later!
Comments
((I know Wonders is a pretty decent guy. I like to give him a bit of grief every now and then- that's all. Hey, did he ever sell that PCGS MS65 1918/17 Buffalo?))
Dang.
That's exactly what I was hoping for.
"Because I can"
myurl The Franklin All Old Green Holder Set
I've been out of town for several days looking at a collection - about 4 bags of 1974-P & D clad Ikes, and nearly 100,000 proofs from 1938-1971, including SMS!
Hopefully, we'll get a 66 or two out of the Ikes. TOUGH coins to grade!
I'd like to wrap this forum topic up. To answer previous question, the last 20 years, I don't recall anyone ever telling me, or me telling them, "I'll sell you this coin, but you can't tell people what you paid for it." I'm sure there are deals like that, but I have never had the experience.
I think a good rule of thumb can be that if one of us sells another a coin that the buyer chooses to post on this site, or any other public forum, the seller refrain from commenting, without prior agreement.
From my perspective, its all about client service. Ideally, when I sell a client a coin, service that is in the best interest of the client does not stop at point of sale. It is up to the new owner whether I take a back seat, front seat, or no seat at all regarding the pedigree of his coin, or any future public notices of his coin.
Mitch - you've got great mint state Washington quarters. Any debate points I raised were only in response to your initial comments on this forum topic. Bring the same points up on another topic, and a different coin other than the one you sold me, and I likely would not have responded.
Hope to do more business in future.
Wishing all a very Happy New Year!
URGENT CONSUMER ALERT
PERFECTOMANIA DOMINATES TODAY’S MARKET
How to lose lots of money…GUARANTEED!
By Mike De Falco
Per-fect-o-mania (perfectomania) 1. The emotionally charged, sometimes ego-driven, always frenzied pursuit of super grade uncirculated and proof contemporary (post-1950) U.S coinage, certified MS68, PR68 or better, regardless of the asking price, without due diligence or prudent forethought. 2. A trend that will enrich numerous dealers and result in horrific losses for those collectors and investors who choose to participate. 3.A temporary anomaly.
In my twenty-eight year tenure as a full time professional numismatist (and fifteen years as an avid collector prior to that) I have never seen such flagrant nor exorbitant examples of OVER PRICING and DECEPTIVE advertising and promotion as that which is associated with the current mania for super high-grade modern U.S. uncirculated and proof mint products. In fact, it’s eerily reminiscent of the seventeenth century “tulip mania” wherein the price of tulip bulbs rose to such dizzying heights (up to $5,000 for a single bulb) that they lost all correlation to their comparative value with other goods and services. The bubble burst in 1637, the market crashed and prices never recovered! The very SAME thing will happen (I absolutely GUARANTEE it) with regard to “perfectomania”, which as I defined at the beginning of this article, as the frenzied pursuit of super high grade (MS and PR68 DCAM – MS and PR70 DCAM), or other alleged “condition” rarity contemporary (post 1950) U.S. coins.
I agree with you concerning 'mania, but at the same time, we all
should have known that slabbing would create this environment. Pop.
reports and the ideal of quantifying grade just drives people to
to want the best. Condition rarity will always be controversial,
especially with 20th century coinage and beyond. I would pay
$50,000 for a certain Franklin if I had that kind of scratch!!
Why? Because I want the coin REGARDLESS of it's worth. I will
never grasp why anyone would pay lofty prices for modern proofs,
because they all look the same to me. Mint-state coins are the
real challenge because of the exposure to potential damage.
All anyone has to do is revisit the 1960's "S" mint proof coin
mania when people were standing in line outside the mint and buy
sets(I was one of those) only to watch those sets fall to below
issue price some years later!
Ed