Why do collectors and dealers alike complain about the scarcity of "special" coins?

SeaEagleCoins

I mean...maybe I'm missing something here... but isn't the scarcity of special coins one of the primary reasons they ARE special?

Whether we are talking about condition rarities...uniquely PQ examples...or population rarities...

If they were "easy" to find wouldn't they lose that "specialness"?

I'm just sayin'...Rare... it is my understanding, generally means "hard to find"...

So why are we so disturbed when we have trouble locating them?


Please excuse me for thinking "outloud"...sometimes I just can't help it...

adamlaneus

Because they never come up.

And when they do they are really expensive.

And really expensive coins outside of your price range suck. Yes they do.

The awful emptiness that must be borne when you cannot fill the holes in your Whitman-album shaped soul.

Few series are without their gaps.

It's probably also about the frustration of seeing scads of the same old coins over and over again too.

And the food is terrible. And the hotel is four blocks away.

mrpotatoheadd

I don't think you're missing anything. Every time there's a show report here, it goes something like this:

The bourse was crowded (or it was a ghost town).
There was lots of retail activity (or there wasn't).
The market is heating up (or cooling down).
Dealers had a good show (or they didn't).

and...

"Special" coins were in short supply and hard to find.

SeaEagleCoins

I'm kind of surprised this question only got two hits... oh well, I guess if I had a manor in Connecticut, a consuelo and worked for "the Man"...maybe then I'd get more respect... sometimes I feel like Rodney Dangerfield...


Come on folks... is this topic too deep for ya...or what?

(after that question, I'd guess this thread is destined to drop like a lead weight or get slammed with a bunch of wisecracks and "lame" emoticons)

ColonialCoinUnion

<< <i>Why do collectors and dealers alike complain about the scarcity of "special" coins? >>



I honestly don't remember anybody complaining about this.

bidask

I had a buyer from Heritage tell me recently that rare coins really aren't that rare.

Stew

SeaEagle,

Can not say I have ever complained about not being able to obtain a "special" or rare coin. "It's The Hunt"
But I can certainly understand why some do complain. Trying to find these special pieces that are so close to our
hearts goes right to the basic need for humans to hunt. It is an instinct that is ingrained in our basic structure.
Just as back in the old days when we would go out to hunt food, and we would come back with no kill we would sit around the fire and complain about the one that got away. ( like we do now with coins)Just as society began having Kings and courts. The kings had no need to go out and hunt, there food was provided for them yet they still had the basic need to hunt. Since they had the most money it was easier for them to afford to collect coins. And became a fashionable way to show there wealth to others. What is a better way to show wealth than the ability to afford to actually collect the symbols of wealth, COIN. Hence the term "the hobby of kings"
while the guy on the street could not to afford such a luxury. They would have to spend that coin to feed and house themselves and there families.

Please see my tag line below

Stew

pruebas

<< <i>Why do collectors and dealers alike complain about the scarcity of "special" coins? >>



IMHO because they are the ones that are selling.

curly

Nothing is rare, brothers. Just keep upping the offer. You'll get it eventually.

SeaEagleCoins

<< <i>

<< <i>Why do collectors and dealers alike complain about the scarcity of "special" coins? >>



I honestly don't remember anybody complaining about this. >>




I am not surprised that you do not hear this complaint... after all...you have most of the available "special" coins

What I based this thread on... is that in show reports...I often "hear" folks lamenting the lack of "special" or "really nice" coins... and whenever I hear a Dealer's Report (not counting yours, of course ) ... every dealer seems to find a way to throw in the comment "Really nice coins are/were hard to find" ... as if this is some kind of a revelation...

There is certainly nothing profound about "Rare" coins being "hard to find"... it just seems so silly and redundant when a dealer says this or a collector complains that "the show was terrible because I couldn't find those R6 and R7 varieties needed to complete my set" ... or complain about the lack of "PQ fresh material"... where the heck is it gonna come from? China?

fivecents

<< <i>Why do collectors and dealers alike complain about the scarcity of "special" coins? >>

The dealers complain because they probably have several on want list that they can't fill. The collectors might complain because they don't care about the mystic of scarcity, they just want need that coin BADLY for their set.
Bottom line: The mystic of a scarce special coin makes it much more popular and much harder to aquire for your set or want list.

garsmith

All coins are available if you have the money

fivecents

<< <i>All coins are available if you have the money >>

and the will to overpay for that "special" coin.

MidLifeCrisis

<< <i>The dealers complain because they probably have several on want list that they can't fill. The collectors might complain because they don't care about the mystic of scarcity, they just want need that coin BADLY for their set.
Bottom line: The mystic of a scarce special coin makes it much more popular and much harder to aquire for your set or want list. >>


I agree with fivecents.

When a collector enters a large bourse floor at a show, they see all these tables and all these coins and they think "Wow! I can buy anything!" It's easy to get disappointed then after they spend a few hours searching and don't find what they are looking for.

Dealers similarly have an expectation that they should be able to fill want list requests and keep "special" coins in their inventory to attract customers...and they get disappointed when this doesn't happen.

Walkerguy21D

I guess more frustrating to me is hearing dealers tout that certain coins in their inventory are 'special' when they really aren't....and this is generally anything I pick out of the case to look at. Part of the salesmanship, I know, and I also realize that 'special' can be subjective based on the individual.

roadrunner

I had a buyer from Heritage tell me recently that rare coins really aren't that rare.

Wouldn't you sort of expect that from a buyer? I had a seasoned buyer/salesman from Heritage tell me about 10 yrs ago that one of my best seated quarters wasn't all that rare or special. He "knew" the value of the coin and told me it was worth considerably less than what I estimated. In fact he was sure there were plenty of those out there (ie the price guides had prices in grade up to gem so they must be around). That was all news to me since I had tracked this date closely for decades. Today, 10 years later, no additional MS coins for this date have come to light. The date has quadrupled in price from VG to Gem as have many of its rare San Fransisco sister coins. While it was still a sleeper date 10 yrs ago, today it's much more highly considered. A buyer doesn't always speak from knowledge.

As far as looking for special coins, I did that from 1982-1987. My mission was to find ANY truly gem MS65 seated quarters that were either New Orleans mint or 1840-1852 no motto Phillies. It wasn't a matter of money but the coins. They really had to be full luster no nonsense gems. They never showed up. Not even the "commoner" dates like 1843, 45, or 46. Over that span I was able to find 2 single coins to purchase, both New Orleans mint. That's not great progress towards a "collection." It really wasn't until the Eliasberg sale in 1997 and the following market boom that started to pull a few of these into the light of day, but still not many. Even so, many of these that are now graded MS65 aren't truly gems. If you look at MS66 pops these coins still aren't around. The lesson? One can look for special coins that truly aren't around or will take decades to eventually run across. Don't rely on price guides or experts that say something is or isn't "special." You really don't know until you try to hunt them down. You can pick something too special that may only frustrate you over time.

Ironically, when I sent my 2 gem "O" mints off for certification in 1988 to see how I had done in my quest for "gems".... they came back MS64 (one at PCGS and one from NGC). I had sent the more subdued orig coin to NGC and the flashy, album toned one to PCGS. I didn't like getting told the coins were not up to par. I swapped services and sent them out again. This time the clean but slightly subdued coin came back PCGS 65. The flashy, colorful coin with a minute obv field scuff came back NGC 65. Problem solved! This was my first lesson showing that grading was still a moving target.

roadrunner

ColonialCoinUnion

<< <i>What I based this thread on... is that in show reports...I often "hear" folks lamenting the lack of "special" or "really nice" coins >>



OK - I didn't really understand what you were saying. Now I do - and I agree with your comment.

rec78

A lot of times you have to wade through a lot of junk and subpar coins to find that diamond in the rough. If rare coins aren't that rare, then i think that most dealers should change their business cards to read like "Joes everyday coins shop" or "Joes common coins" instead of "Joes rare coins".
Rarety is subject to change over time and who knows how many 1945-s quarters are left after the silver melts? What is a common sight today may be a rare sight tommorrow.

ambro51

One of the rarest of all items is a nine year old McDonalds drink cup.

Walkerguy21D

<< <i>One of the rarest of all items is a nine year old McDonalds drink cup. >>


Not to be confused with the very common 'nine year old with a McDonald's drink cup'

ambro51

.....go ahead.....find one! If I were to offer you 5K for a 9 year old McDonalds drink cup.....could you locate one?

barbershopper

<< <i>I guess more frustrating to me is hearing dealers tout that certain coins in their inventory are 'special' when they really aren't....and this is generally anything I pick out of the case to look at. Part of the salesmanship, I know, and I also realize that 'special' can be subjective based on the individual. >>



You've stated the gist of this thread. Everyone has a different definition of the words "special" and "rare".
A three-legged buffalo nickel, to me, is "special". It isn't "rare". You can always find one.
A 1916 over 16 buffalo nickel is both special and rare. You have to look at every auction or you'll miss out on the chance to buy one.
As far as price, it's gonna cost an arm and a leg in MS condition or just a couple of fingers in VG.
Settle for the VG. It'll sell easily if you ever find a better one you can afford.
That's my opinion in a nutshell. This thread won't change my feelings about that.
PS. Mine is XF45. I was thrilled to buy is at the quoted price.

JT