Laura has a new Aug/22 Coin Report out!
Bear
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There once was a place called
Camelot
Camelot
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Bear
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I have always thought it was wise of them to post new coins on Sunday rather then wait for Monday. Gives them a competitive advantage....No one else seems to do that in there arena......MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Can the coin market absorb a hoard like this without a sharp downward price adjustment?
I doubt it ... but we'll see.
Does the coin market need a large east coast show in September?
What is the state sales tax situation in PA?
Laura and George can just take them to coin star and
get cash.
Camelot
everything I collect is slow to dead.
That just makes the weekend for me.
Camelot
<< <i>35,000 nice, fresh coins to sell?
Can the coin market absorb a hoard like this without a sharp downward price adjustment?
I doubt it ... but we'll see.
Does the coin market need a large east coast show in September?
What is the state sales tax situation in PA? >>
Why would sales tax be collected in PA if the coins are sold in NJ?
<< <i>
<< <i>35,000 nice, fresh coins to sell?
Can the coin market absorb a hoard like this without a sharp downward price adjustment?
I doubt it ... but we'll see.
Does the coin market need a large east coast show in September?
What is the state sales tax situation in PA? >>
Why would sales tax be collected in PA if the coins are sold in NJ? >>
I think that is a reference to the Whitman Philly show in September.
<< <i>35,000 nice, fresh coins to sell? Can the coin market absorb a hoard like this without a sharp downward price adjustment? I doubt it ... but we'll see. >>
It all depends. If the coins are sold on consignment with no pressure to sell right away, then having a nice supply could actually stimulate more demand for the right coins which will then help keep prices firm.
If the coins need to be sold immediately, then the coins will probably be discounted appropriately.
Sometimes even a nice discounting of the coins will be good for the coin market to bring the buyers out looking for a bargain.
<< <i>What is the state sales tax situation in PA? >>
NO sales tax on coins and bullion in PA!
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
Was this one the white hot triple-nuclear, or the one where we're doing great despite the market?
and it sets us apart from practitioners and consultants. Gregor
Hoard the keys.
K S
IMHO YES!
Website-Americana Rare Coin Inc
I think someday people are going to try to assemble sets of PL's and coins like this will acquire substantial premiums. Most collectors would be surprised both how common and how rare these can be dependent on date. Yet they are tough enough that they are interesting even as type coins (for most series).
We're desperate to find a box that had a group of 1943S Mercs as we vividly remember seeing 3 heartpounding [sic] FULL PROOFLIKE specimens (we seem to think they were cameod [sic] too)!
Maybe Wally Breen will come back to life and certify them as "Branch Mint Proofs." Heck, he might certify them as "1921 Matte Proof Peace dollars..."
Not if it's all 19th Century proof gold. Otherwise, we should be fine.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Legend is a fine company... they handle some of the best of the best examples available... certainly not exclusively... yet there is no arguing that they have beautiful coins for sale... and have handles some of the finest coins and collections...
Yet they and their business dealings ARE NOT an accurate gauge of the market in general...at least in my humble opinion...
The vast majority of folks who frequent shows DO NOT buy the types of material that Legend and other companies like them sell... the majority of their inventory includes coins that... just the value of one coin alone matches or exceeds the value of the entire collection of most folks visiting a coin show...
Here is an example of what I mean... a dealer who I know, had no intention of going to the ANA this year... he usually does go each year... but with the location, the expense, the state of the economy...he felt it would not be worth the trip. However, some fellow dealers "hounded" him, insisting that he should be there... so in the end, he "broke down" and chose to attend.
First day there, he found that due to some no-shows, there were two extra tables next ot his...he was told he could spread out to use them... in total he had 16-18 cases spread out...along with an assortment of "junk" boxes, asst. other boxes and books of material.
He has told me that he was busy the entire show... and it ended up being the best show he has had all year... he does Baltimore and Long Beach, as well...
He also said that the "front table" dealers... such as Legend... could just as easily left an armed guard by their table and left... the folks attending were just not in the market for coins such as they sell... they all wanted general "collector coins"... average grades... general types... he sold everything from Lincolns to Buffs and jeffs...Washies... Halves... seated...bust...barber...morgans...World paper was flowing... (US currency he noted was dead in the water)... World coins... and, of course... gold... bullion...
BTW... and again, FWIW... this dealer's name is Dr. Arnold Saslow... he had no reason to lie to me... and he did ask me, if the opportunity arose, to share his perspective of the ANA here...
For a coin seller like me, a good show means total sales that would be equal in value to a Legend widget... yet my table has been generally busy every show this year... when I have the chance to look up, I notice the "big guns" twiddling their proverbial thumbs...
...in the $50-2000 range... coins are still being bought and sold... I have yet to see any noticeable slowdown in business activity... as a matter of fact, in my experience... this summer has been much better than last summer for business... and just about as good and steady as the Winter and Spring...
Again...when LS speaks...she speaks about, for and to a select group... NOT THE ENTIRE hobby or business.
I respect who she is and what she does... but it is a matter of having a proper perspective... I'm just sayin'...
no matter what segment of the market they serve. It would
be difficult to totally separate these segments, even though
they often run in different directions. Knowledge is always
important and valuable no matter what segment of the market
we tend to collect.
Camelot
<< <i>It is an advantage for this Forum to hear the views of all
no matter what segment of the market they serve. It would
be difficult to totally separate these segments, even though
they often run in different directions. Knowledge is always
important and valuable no matter what segment of the market
we tend to collect.
I wholeheartedly agree with ya Bear... yet let me just add a little "Donut Logic"... if someone offers up a report on Jelly Donuts... you'd be all paws and ears
Soooooo... the current state of the jelly donut market may be important to you... but it is not indicative of the state of the entire snack industry...
again...it is simply a matter of having proper perspective...
<< <i> Laura has a new Aug/22 Coin Report out!
Was this one the white hot triple-nuclear, or the one where we're doing great despite the market?
Ha!
WidgetFest 35,000
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
I don't know of any dealer who would not be highly appreciative of a seller that repeatedly insisted that the potential buyer "just get these coins out of here and back to NJ!" Negotiation Techniques 101.
Looks like CAC is going to need some extra help for a few weeks as well.
roadrunner
Anyway, I think the McClaren Collection will give Laura new perspective on the value of cheaper coins, especially from the consideration of how important they are to the collector base. As dealers, we'd all love to sell $10,000-up coins only; but collectors don't start there. They start with 1943-S Merc dimes and the like, and we need fresh collections to come on the market to support that demand.
All that said...my 2-cent on the market right now...
The market is better now than I thought it would be. It seems that the "ice" that froze the marketplace over the last 8-9 months is thawing out and deals are happening with greater regularity. Levels are definitely down from their peaks of July 2008 but that's ok. Dealers like us (and Legend) that have been careful to continually move out old inventory at market levels are now finding themselves in a very good position to do deals. ANA was one of the best wholesale (not retail!) shows we've done in 3-4 years, because dealers were ready to finally do business. And it's been an added benefit to see a lot of our new purchases sell quickly off the site. In the numismatic trade, it's been my experience that dealers see the momentum turns and get enthusiastic before collectors.
It'll be interesting to see how the Fall shapes up.
<< <i>35,000 nice, fresh coins to sell? Can the coin market absorb a hoard like this without a sharp downward price adjustment?
Not if it's all 19th Century proof gold. Otherwise, we should be fine. >>
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>
<< <i>35,000 nice, fresh coins to sell? Can the coin market absorb a hoard like this without a sharp downward price adjustment?
Not if it's all 19th Century proof gold. Otherwise, we should be fine. >>
>>
That's pretty much the entire run, all series, all denominations, all years, innit?
60 years into this hobby and I'm still working on my Lincoln set!
Ok, lets say for arguements sake that this collector has been squirreling away these primo examples of Mercs, Walkers, Peace dollars and Morgans for 35 years. That means he bought an average of 1,000 coins a year or three per day, everyday for 35 years. How is that even possible? I'm pretty picky myself and I have a hard time buying 10 PQ Walkers a year with great eye appeal. Great ones just don't come out that often. Anyways, I hope to add a few more from this collection and fresh walkers are a welcome site. 35,000 coins------boggles my mind........MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Buying top quality Seated Dimes in Gem BU and Proof.
Buying great coins - monster eye appeal only.
I never cared for her rants in here about wanabees or widgets (insulting). Frankly, I could not figure why someone with her resources (and connections) would fool with these forums except to attract some of the wealthy collectors who probably post here. She goes to a lot of effort with her marketing hype and it may be a fine model for the fellow trying to design an advertising memo. I almost bought a 1914-S PCGS 65 Saint from her at a show once but found a much nicer one for less a few tables over.
I wish her good luck in retailing her stuff in ths economy as she has some serious competetion from outfits like Heritage and Teletrade.
I was looking at the Heritage Gold Fax of 08/13/09 where they were offering CAC $20 Saints at $1600 in 64 (vs non cac in 64 at $1595) and CAC $20 Saints in 64 at $2075 vs 2030 (non cac). These prices are around CDN Ask. So much for CAC coins bringing a huge premium. I think I will order a few of the CAC MS 65's.
45-S in 65
this one is a 45-S in 67 I purchased last month at auction. I received the coin recently and I'm happy to report that it blows the picture away in hand : )
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
I buy coins in the 500 to 5,000 range. I am certainly not a whale
and yet If Laura feels that a coin is not right for me, she will talk
me out of buying it. If you ask her about a coin, she will discuss
the coin with you, warts and all. True, Laura does not handle VG coins
G Indian head pennies and bullion coins, she does cover a large rang
of coins and prices. If you do not want to read her Coin Reports, then don't,
but the loss will be yours. As for me, I read and appreciate all the dealers
coin reports. It is very kind of each of them to take the time and effort to describe
the Coin Market as they see it.
Camelot
<< <i>I agree with the going sentiment. As long as one is aware the Laura's perspective is generally a reflection of the highest level of coin-trading in the market, her report is a very useful tool. In general, I always find myself nodding at the points she makes in her reports and I only tend to disagree when she weighs in negatively on "pedestrian" side of of the market -- which is an area I trade in extensively. We do sell a number of five and six-figure coins but our bread and butter is the $500-$5000 coin. Personally, I think this market has moved in much the same way as the high-end market. Collectors at all levels have their budgets...and their constraints. This recession has shown little prejudice.
Anyway, I think the McClaren Collection will give Laura new perspective on the value of cheaper coins, especially from the consideration of how important they are to the collector base. As dealers, we'd all love to sell $10,000-up coins only; but collectors don't start there. They start with 1943-S Merc dimes and the like, and we need fresh collections to come on the market to support that demand.
All that said...my 2-cent on the market right now...
The market is better now than I thought it would be. It seems that the "ice" that froze the marketplace over the last 8-9 months is thawing out and deals are happening with greater regularity. Levels are definitely down from their peaks of July 2008 but that's ok. Dealers like us (and Legend) that have been careful to continually move out old inventory at market levels are now finding themselves in a very good position to do deals. ANA was one of the best wholesale (not retail!) shows we've done in 3-4 years, because dealers were ready to finally do business. And it's been an added benefit to see a lot of our new purchases sell quickly off the site. In the numismatic trade, it's been my experience that dealers see the momentum turns and get enthusiastic before collectors.
It'll be interesting to see how the Fall shapes up. >>
John F. nails it succinctly although one part I would sum up differently is in the area of the cheaper PCGS and NGC certified market. Personally I believe that area of the market is actually stronger now than it was in July 2008 as people still want to buy nice certified coins but may not have the budget to splurge on the more expensive items.
Authorized dealer for PCGS, PCGS Currency, NGC, NCS, PMG, CAC. Member of the PNG, ANA. Member dealer of CoinPlex and CCE/FACTS as "CH5"
This sentence makes me laugh.
35,000 coins is over 4 palettes of 20 cases of 20 cartons of a box of 20!
<< <i>"NEVER underestimate the power of freshness!"
This sentence makes me laugh.
35,000 coins is over 4 palettes of 20 cases of 20 cartons of a box of 20! >>
I think the entire bank vault was his saftey deposit box
MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Everyone of the coins is a PQ coin for the grade and as excellent eye appeal.
The same applies to the few seated dimes I have purchased.
There is not one coin I regret buying and check the site often just to see what shows up.
Buying top quality Seated Dimes in Gem BU and Proof.
Buying great coins - monster eye appeal only.