Is this outrageous?

RyGuy

I attended a coin show yesterday and browsed through tons of great looking coins and amongst them all, I find a lonely 1965 Lincoln SMS in PCGS MS64BN. It caught my eye has it had an amazing green tone over the obverse surfaces, almost neon-like. I tend to buy what catches my eye at times, even if its worth only a few bucks so I ask how much to the dealer. She quotes me $300?!?!?! Is this just a little insane for a premium just because of some color? While I know that pretty, naturally toned coins do often cost a little more over a typical example for the type in some cases, there is no way to justify paying that much for a coin as common as that and in such a low MS. /thread.

Ryan

braddick

Ryan,

Seriously, if out of a full case of coins- many of them probably 1K+ coins and most if not all "great looking coins" in and of themselves, the one that caught your eye and has you thinking about it even today was $300.00, I'd think that was a pretty good price.

RyGuy

I meant "great looking coins," as a whole for the show, not just that table. And while yes, that particular table was home to some proof Liberty nickels, IHCs, Mercs, etc. that means that every other coin they offer should carry a premium, too just because? $300 isn't a lot of money for a coin, but in that case I felt it was based on what it is. I more or less just came to vent, as it really just got to me as I was leaving the show.

GoldenEyeNumismatics

<< <i> While I know that pretty, naturally toned coins do often cost a little more over a typical example for the type in some cases, there is no way to justify paying that much for a coin as common as that and in such a low MS. /thread.

Ryan >>



"a little"?

Attractive naturally toned coins can fetch truckloads more money than the normal pieces.

braddick

<< <i>I meant "great looking coins," as a whole for the show, not just that table. And while yes, that particular table was home to some proof Liberty nickels, IHCs, Mercs, etc. that means that every other coin they offer should carry a premium, too just because? $300 isn't a lot of money for a coin, but in that case I felt it was based on what it is. I more or less just came to vent, as it really just got to me as I was leaving the show. >>



I didn't catch your first post as a venting one. I do now.

Still, sounds like a great show with many neat coins to look at. Did you purchase anything?

braddick

For what it's worth, I personally kind of know what it is like to way overpay for a pretty Lincoln cent. This green beauty caught my eye and like that SMS you spotted in the dealer's case, paid many multiples over what it is probably really worth to anyone else.

And, I'm ok with that as it has also brought me many multiples of pleasure in ownership.

AU58WALKERS

"Is this outrageous?"

IMHO...very!

Steve27

<< <i>"Is this outrageous?"

IMHO...very! >>



What he said.

LindeDad

ricko

"Is this outrageous?" Most definitely... and it amazes me that people pay the premium... However, their money.... Cheers, RickO

RyGuy

<< <i>For what it's worth, I personally kind of know what it is like to way overpay for a pretty Lincoln cent. This green beauty caught my eye and like that SMS you spotted in the dealer's case, paid many multiples over what it is probably really worth to anyone else.

And, I'm ok with that as it has also brought me many multiples of pleasure in ownership.

>>



That coin is gorgeous! I can understand paying a premium for that. This coin was nowhere close to looking that good. I'd assume your coin was still fairly priced, though. This coin was $300 and how much is an MS-65 SMS, less than $10? This is an MS-64BN, if paying a premium for toning in this case, I was expecting her to quote me maybe $50 or so dollars, but anyways, 'nuff said I supposeryan

RyGuy

<< <i>

<< <i>I meant "great looking coins," as a whole for the show, not just that table. And while yes, that particular table was home to some proof Liberty nickels, IHCs, Mercs, etc. that means that every other coin they offer should carry a premium, too just because? $300 isn't a lot of money for a coin, but in that case I felt it was based on what it is. I more or less just came to vent, as it really just got to me as I was leaving the show. >>



I didn't catch your first post as a venting one. I do now.

Still, sounds like a great show with many neat coins to look at. Did you purchase anything? >>



I did, nothing too spectacular probably to many, but I'm happy with them. I picked up a 1909 $2.5 Indian PCGS AU58 and I found what I was looking for, a 1972 Lincoln DDO PCGS MS62BN, which is my new baby till I can find a 1955 DDO for less than $1500.

Ryan

TomB

If the market will bear the price then the market will bear the price. You do not have to purchase coins that you believe are overpriced. Would I have purchased the coin in your circumstance? Likely not, but then again I would not purchase a blast white, common date MS65 Morgan for $100, either. Though I believe the market supports those Morgans in that range, I would pass because I value my cash more than that possible purchase, which seems to be what happened with you and the Lincoln cent.

nankraut

<< <i>I attended a coin show yesterday and browsed through tons of great looking coins and amongst them all, I find a lonely 1965 Lincoln SMS in PCGS MS64BN. It caught my eye has it had an amazing green tone over the obverse surfaces, almost neon-like. I tend to buy what catches my eye at times, even if its worth only a few bucks so I ask how much to the dealer. She quotes me $300?!?!?! Is this just a little insane for a premium just because of some color? While I know that pretty, naturally toned coins do often cost a little more over a typical example for the type in some cases, there is no way to justify paying that much for a coin as common as that and in such a low MS. /thread.


Maybe the dealer meant to say $3.00???

Ryan >>

pennyannie

seller greed. They probably do not care if they sell it or not. Is seller greed a bad thing???

ChrisRx

Not only outrageous, it's

Walmann

<< <i>seller greed. They probably do not care if they sell it or not. Is seller greed a bad thing??? >>




Can only sell it if buyer has desire for it. Greed and desire have a very close relationship especially since greed is an offspring of desire.

leothelyon

Green toning IMO is one of the rarer colors to find on a coin. If the coin was valued at $50, it would last less than 15 minutes in a dealers case and you would have never seen it. At $150, perhaps a couple of hours.

Leo

PerryHall

Yes.

JohnMaben

Why get upset? If you are at Neiman Marcus and see a shirt that catches your eye, then you look at the price tag and see $175, do you get angry? No, you might chuckle, or if you REALLY like it you might even buy it. Part of the hunt includes wading through bad deals to find good deals. It's a lot more fun to celebrate the victories and not get upset about the coins you can't or won't buy.

John

kaz

I agree, it's a free market, if it doesn't sell, the owner may knock the price down a bit. I think a coin is worth what someone (who has a chance to examine it directly!) is willing to pay for it.

Sunnywood

In the immortal words of the lady in the red dress, "Just Say No." Why be outraged? Either the seller will eventually get real and lower the price, or someone else will buy the coin who values it more than you do. Meanwhile, the seller has the right to ask any price ... and you can simply say, "No thanks."