Sign of the times? Modern prices plummet.

BECOKA

Not sure if I picked a bad week or what but I had one of my worst e-bay weeks ever. Basically letting you know it might be wise to wait a few months to sell.

I just sold a complete 1992 PR70 set in separate auctions and some of the pieces only brought in about $20.

e-bay history has the pieces of this set at about $1200. Mine brought in about $350.

RBinTex

Ouch Ben! Sorry to hear that.

19Lyds

That really sucks!

eBay really sucks right now.

Even Teletrade really sucks.

Everything sucks sales wise........................................................unless its me that buying!~

wondercoin

Ben: Sadly, you had "your pocket picked" if you are reporting sales of $20/coin or anything close to that for those coins. That is the risk of running open bid auctions on ebay right now. I hear about super depressed levels all the time.

But, many moderns are doing just fine (while others are soft as are many classic coins) - in fact, if you recall one of our last deals together - the PR70DC FS Buffalo $50 gold is selling for MORE than a year ago when I bought a few from you and I was selling them off around $1,500/coin.

Wondercoin

FullStepJeffs

And that's why I'm buying coins that used to be $1K, but are now $300 - $450.

Steve

BECOKA

<< <i>Ben: Sadly, you had "your pocket picked" if you are reporting sales of $20/coin or anything close to that for those coins. That is the risk of running open bid auctions on ebay right now. I hear about super depressed levels all the time.

But, many moderns are doing just fine (while others are soft as are many classic coins) - in fact, if you recall one of our last deals together - the PR70DC FS Buffalo $50 gold is selling for MORE than a year ago when I bought a few from you and I was selling them off around $1,500/coin.

Wondercoin >>



This is a good point and I may be following what e-bay wants and doing more buy it now stuff. Seems the only way.

Lesson learned and I guess 99 cent auctions are going to be a thing of the past.

barrytrot

PLEASE ping the board if you have a $20 PR70 auction with a few hours left.

There are at least 10 people here, including me, that would buy any PCGS PR70 at $30 any day of the week

wondercoin

I'll go $35!

Wondercoin

fcloud

I think this is why so many sellers seem to be switching to BIN instead of acutions. There seem to be less buyers willing to put out the money, but with BIN, you would at lease get what you wanted or be able to keep it. You could also try selling them here or on the BST board.

BECOKA

<< <i>I think this is why so many sellers seem to be switching to BIN instead of acutions. There seem to be less buyers willing to put out the money, but with BIN, you would at lease get what you wanted or be able to keep it. You could also try selling them here or on the BST board. >>



Did the bet thing no takers or offers.

19Lyds

<< <i>Lesson learned and I guess 99 cent auctions are going to be a thing of the past. >>



But......But........What about the "No Guts, No Glory" crowd?

BECOKA

<< <i>

<< <i>Lesson learned and I guess 99 cent auctions are going to be a thing of the past. >>



But......But........What about the "No Guts, No Glory" crowd? >>



Think I'm worn out and my guts are spilled.

Duane

I hear ya. I've taken a hit or two in other venues lately as well. What is it that Kenny Rogers used to sing: "You got to know when to hold 'em, know when to fold 'em......"

Right now, I'm a little leery of buying anything until I can get a read on the market. Hold 'em.

LindeDad

Ben what is your eBay ID I think I need you on my favorite sellers list.

Sorry you toke the hit, but Christmass time has never been the greatest time to sell coins. Toys and Jewerly make better presents under the tree.

sinin1

I have alway said coin prices take a 20-30% dip during last 2 weeks of Dec and first week of Jan


because most people are cash strapped with X-mas.



Presents for family takes precedence over regisrty coins for collection

lasvegasteddy

as much as it's nice to get a deal...it can be as nice to see others get a deal too

certain moderns are still in travel to tha moon...no lie

i've heard this can be a tough part of the year to calibur any pricing off of...yeah the economony plays part...but spring and summer are told to me stronger of season for prices

but it is true...if certain moderns would hit the market...price thresholds would be surpassed but they're squirreled away and darn near impossible to make

sonoranmonsoon

<< <i>I think this is why so many sellers seem to be switching to BIN instead of acutions. There seem to be less buyers willing to put out the money, but with BIN, you would at lease get what you wanted or be able to keep it. You could also try selling them here or on the BST board. >>



You are absolutely correct. I also agree with the other poster that coin sales do drop off this time of year anyway, but this year it seems much worse. The ebay bidders seemed to drop of much earlier this year and in much larger numbers than I have seen in other years. I switched to bin as soon as the 30 day listings became available. I was losing my shirt listing auctions, now I can at least control the final price or pull the item if I wish.

BECOKA

<< <i>

<< <i>I think this is why so many sellers seem to be switching to BIN instead of acutions. There seem to be less buyers willing to put out the money, but with BIN, you would at lease get what you wanted or be able to keep it. You could also try selling them here or on the BST board. >>



You are absolutely correct. I also agree with the other poster that coin sales do drop off this time of year anyway, but this year it seems much worse. The ebay bidders seemed to drop of much earlier this year and in much larger numbers than I have seen in other years. I switched to bin as soon as the 30 day listings became available. I was losing my shirt listing auctions, now I can at least control the final price or pull the item if I wish. >>



Shoot, I did not know the 30 listing was available.

sonoranmonsoon

The 30 day listing is only available for bin, not auctions. There is a higher value added fee at the end, but the 35 cent listing fee is pretty tempting for 30 days. At least you can cover all your costs by your listing price. We are unable to do this in auctions if the sales price falls too low. The worse you are out is the nominal listing fee if the item does not sell (assuming you use a free picture service). The other cool feature is you can have the bin roll over each month without relisting, if it does not sell. Although the listing fee is higher than an eBay store, the exposure to buyers is much better (almost on par with auctions).

scottgardener

Gah! $20 for a PR70 anything is rediculous!

It's definitely a buyer's market. Mental note: set aside some savings for coin buying around Christmas, seperate from savings for Christmas buying around Christmas.

I also think the economic slump may be contributing a little. Overall, a bad economy raises demand for coins, but moderns tend to get left out as demand goes towards proven long-term specimens or precious metal. But, today's moderns are tomorrow's classics, and I'd expect certified MS70s and PR70s to be sleepers, as they're preserved in a state of perfection. Demand might be high some day, say, the 50th anniversary of the opening of Freedom Tower, for a PR70 2001 New York statehood quarter. Or, maybe in 2013 on the 50th anniversary of Kennedy's assassination, we might see public fascination with the 1964 Kennedy Half, given its "only year it was 90% silver" novelty.

Oilpatch

I think we have an economic grid lock @ the moment the stock market, bond market, commodities market, options futures, real estate everything is looking rather bleak and uncertain. In the past year around $2 trillion dollars has been lost in these various investments not to mention the real estate for closures, the unemployment rate is around 6 to 8% (depending on who you believe.) I think alot of people are more worried about the basics food, shelter, transportation and heat.

Then again I kinda view this as history repeating itself... most of the great historic collections were put together in the great economic scares, depressions and recessions of the past.
Me? I am having a field day with these low prices and buying all I can of the rare to popular stuff at the current bargain basement prices, but then again I am willing to hold the coins for 5 years or longer, they wont be on the market any time soon... and one thing for sure they arent making any more rare coins and there are more people becoming coin collectors everyday.

All these economic woes will pass.... the question is when?

JMHO Buy and hold if you can.