It doesn't look good for coin market in short term..........
2manycoins2fewfunds
Posts: 3,038 ✭✭✭
Bear market for stocks, crashing PM and commodity prices, massive wealth destruction with housing decline, etc, etc.
We can stick our heads in the sand and boast about 'buying opportunity' but short term these events bode badly for collectables in general.
We can stick our heads in the sand and boast about 'buying opportunity' but short term these events bode badly for collectables in general.
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The coin market has no top.
The coin market has no top.
You must believe ... at least until the "right" people have gotten their money out.
It looks great to me; prices dropping time to buy, buy, buy
And very few of the "too much money, too much free time, too much to say" crowd on this message board have been groaning about their coins losing value.
Someone is buying.
<< <i>Explain then why the PCGS 3000 has been going up and up? Charts don't lie. And very few of the "too much money, too much free time, too much to say" crowd on this message board have been groaning about their coins losing value. Someone is buying. >>
When they go away, we'll be at a top. --Jerry
1-Dammit Boy Oct 14,2003
International Coins
"A work in progress"
Wayne
eBay registered name:
Hard_ Search (buyer/bidder, a small time seller)
e-mail: wayne.whatley@gmail.com
Maybe then I could afford one.
As a collector and not an investor, falling coin prices are OK with me. Unfortunately I see very little evidence of price declines in the coins I collect.
I second that.
not good for who, as a collector I like lower prices. Also hard times unfortunately for some force good material out of the woodwork.
Garrow
<< <i>I wish all the people who started these threads would get together, vote a leader, and make just one thread a month. I'm sick of hearing you people complain when your "collectables" dip in price after nearly a decade of increasing. Go buy a used Economics 101 book before you post the same thing over and over and over again. Thank you. >>
Good idea!
Maybe we could also get a leader to once a month post some insanely stupid questions like 'Would the earth falling into the sun change your collecting?'
A few more threads about dealer ethics might also be nice.
Oh and lets not forget about problems with Ebay.
As a collector it's looking bad, in that respect.
<< <i>If the coin market is in the dumpster, why do I keep getting outbid at full retail for the coins I want?
Garrow >>
Happened to me too last night on Teletrade ;(
Guess I'm just a cheap båstard.. ha
<< <i>If the coin market is in the dumpster, why do I keep getting outbid at full retail for the coins I want?
Garrow >>
because you are competing with how many other people at home
sitting in front of their PCs going to the same auction sites day
after day after day...
while the same date/mint of coins sit at dealer shows, B&M shops,
and etc... in similair quality... for possibly a lot less money then
you are bidding.
you are shopping at the most looked at places where competition
is stiff and wondering why you have to pay moon money prices to
capture a coin? sorta funny.
try visiting 5 local coin stores some friday/sat and see how things
can be very different depending on where you plan to spend your
money.
also keep in mind everyone is competing for the nicest of the bunch
in the auction... while others go begging.
my two cents.
<< <i>...are there still "five local coin stores" anywhere? >>
heh. touche. i am thinking in an hour radius from the city you live in.
of course your mileage may vary in the huge states like Montana
for example.
I live in NH and can visit 5 coin stores in one day if i put my mind
to it. Even more if I cross the border to MA.
<< <i>If the stock market and housing are not paying good returns, people will look to put their money elsewhere. The stock market did poorly from 1966 through 1982, roughly coinciding with the biggest coin boom in history. >>
same for stamps and look where they are now... and countless
other areas of collectibles.
of metals. These profits were plowed back into an overheated market.
This is not the case now. Dealers have not been making a lot of money
buying metal from the public. The market is mostly based on collector
buying.
<< <i>
<< <i>If the coin market is in the dumpster, why do I keep getting outbid at full retail for the coins I want?
Garrow >>
because you are competing with how many other people at home
sitting in front of their PCs going to the same auction sites day
after day after day...
while the same date/mint of coins sit at dealer shows, B&M shops,
and etc... in similair quality... for possibly a lot less money then
you are bidding.
you are shopping at the most looked at places where competition
is stiff and wondering why you have to pay moon money prices to
capture a coin? sorta funny.
try visiting 5 local coin stores some friday/sat and see how things
can be very different depending on where you plan to spend your
money.
also keep in mind everyone is competing for the nicest of the bunch
in the auction... while others go begging.
my two cents. >>
The largest coin shows will still be missing many hard to find dates. If you have the time and energy to go hopping around to every coin show in the country to get that great deal, by all means, go for it. Even then, you won't find certain dates in the right grades with positive eye appeal. And by the time the "little people" like me, get to the show, the choice material is long gone.
Often, auctions are the best place to get desirable coins, and in some cases, the cheapest.
And I don't know where you are located, but I can go to 20 different local coin shops and see the largest collection of crap under the sun. If I do see something scarce or desirable, the price is out of this world.
And I don't know where you are located, but I can go to 20 different local coin shops and see the largest collection of crap under the sun. If I do see something scarce or desirable, the price is out of this world. >>
Sad but true.
"Seu cabra da peste,
"Sou Mangueira......."
1) Seek out quality, problem-free coins from a variety of venues.
I have bought some crappy looking coins just to fill a date or type in my set. Only a few though.
Not surprisingly, they were all cheap too. So at least I got that goin for me, which is nice.
Luckily, I found this place to give me advice on how not to do that.
2) Sometimes, you have to pay for quality.
If I find a coin I love the look of, I don't mind paying more for it. I've been able to do this with a few really
nice coins now and when I look at them I never think of the cost anymore b/c I love them.
3) Quality coins always seem to perform well in the long term.
I'm in this hobby primarily to collect and build a nice collection while having fun. I'm young, I enjoy learning
as I go. I'm not worried about selling my collection. I'll dump some stuff along the way, but the really
nice stuff is staying around for a while!
commoncents123, JrGMan2004, Coll3ctor (2), Dabigkahuna, BAJJERFAN, Boom, GRANDAM, newsman, cohodk, kklambo, seateddime, ajia, mirabela, Weather11am, keepdachange, gsa1fan, cone10
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<< <i>If you want to buy a POS, they're cheap, because no one wants them. There are no bargains and little acceptable material around in what I collect. I'm thinking of not bothering to go to Long Beach next week because of this. >>
I'll second that. My last Long Beach show was by far my shortest trip to a coin show (about 1.25 hours). I believe there are no bargains because so little acceptable material can be found.
<< <i>If the coin market is in the dumpster, why do I keep getting outbid at full retail for the coins I want?
Garrow >>
Because you have good taste?
Buffalo Nickel Digital Album
Toned Buffalo Date SetDigital Album
never, never, never goes up in value.
Camelot
"Seu cabra da peste,
"Sou Mangueira......."
<< <i> >>
And I don't know where you are located, but I can go to 20 different local coin shops and see the largest collection of crap under the sun. If I do see something scarce or desirable, the price is out of this world. >>
Sad but true. >>
sorry to pick on you.. but you just posted a thread labeled "buyer's
remorse". in it you put a bid on a coin without even seeing pictures...
now you can view the pics and it appears to be a dog.
sad but true. ;-)
--------
on another note... one out of 500 coins posted here is something
i would consider rare and super desirable. most of it can be bought
at the local show or B&M if you visit it often enough.
morgans, wheat pennies, common date gold, etc...
a small percentage of people who post here really target coins
that are grade rarities or have pops less then 75. the rest buy
widgets.. in quantity.. to get their fix... and pay a lot for them.
<< <i>Deus - Ditto re the last Long Beach Show. Although in all fairness, there was a lot of Unc. Seated & Barber coinage for sale, I did not look at any of it because I already had what I needed from these series of coins for my type set. I only saw two coins on the floor that interested me, and one of them was an auction coin, which I wound up buying. >>
If I was in the market stripped, dipped, over graded, and downright ugly Charlotte gold I would have had a field day. Since I'm not I spent the afternoon with my wife.