Canadian Coins On eBay

Bobbo50

Have any other collectors of Canadian coins been monitoring the prices asked for certified (generally ICCS) coins on eBay?
I take a look just about every day and am shocked, shocked at some of the prices asked.
Of course, asking and getting are two different things.
I realize that eBay's free listing policy makes it a no-risk proposition to list 50 items a month at ludicrously high starting prices in the hope that maybe one fish will bite.
I see MS64 1990s-2000s cents listing for $15-$20. Does anyone in their right mind think they are worth anything near that - not even if MS65, say I!

syl

Registry fever has caught many of the uninitiated and TPG advertisements have lead newbies to think that certified coins are the only way to collect anything. Ebay vendors are pricing items for what they may get someone to bite on. I think that it is sad for the market that the lemmings who have bought are getting close to the edge and will find out what the bottom of the clif is like when they try to sell. Since price guides started listing 65-67 prices for common-as-dirt material, people think that the price they see is what it's worth. It really comes as a shock to find out the knowledgeable buyers only open their wallets for 10-20% of what the book says (for common material). Until "bright and shiny" prices were published and readily available, no one in their right mind would even send in the modern common stuff for certification .. the cost to certify far outweighed what the coin would ever be worth. It's a sad sad state for a hobby where the uniformed are taken to the cleaners.

canadacolornut

The outlook is tenuous enough in collecting pre 1967 material, when silver was still a component.

Honestly, the spin on the modern stuff is almost laughable....

DoubleEagle59

The Canadian coin market was going full steam ahead right on up to the Credit Crisis of 2008.

After that, the Canadian market did a complete nose dive and has yet to recover.

I'm talking about all Canadian coins, from early Victorian right on up to the modern coins.

It is a great time to be buying.

Pokermandude

<< <i>The Canadian coin market was going full steam ahead right on up to the Credit Crisis of 2008.

After that, the Canadian market did a complete nose dive and has yet to recover.

I'm talking about all Canadian coins, from early Victorian right on up to the modern coins.

It is a great time to be buying. >>



I second this. I've had some nice pickups in the last couple years. And a nice one just the other day that I can't wait to post, will as soon as it arrives. It'll be in the Canadian toned coin thread

Bobbo50

<< <i>It is a great time to be buying. >>


Agreed. I've been able to pick up some MS Newfie half dollars (among other things) at very good prices.
In a related matter - CCN Trends dropped their former editor and are now doing it by committee.
Not to cast aspersions on the former editor but he seemed more interested in doing prescriptive pricing rather than descriptive pricing.
He would repeatedly make comments to the effect of "I thought prices were a little low, so I increased them."
I believe he is a coin dealer too, so at least the appearance of a conflict of interest is inevitable.
OTOH, being the editor of Trends is a difficult task and I like to believe he did the best he could.
My feeling is that the CCN Trends are a trifle optimistic on most pre-1968 issues and wildly high on later ones.

syl

Mike, the past publisher for Trends, WAS a dealer and a good honest one. He actually lowered more prices than he ever rose (except 65-67 which were taking hold). The past Editor of Trends was a dealer as well (Rick) and did a great deal to bring things into reality. You almost NEED to have an editor witrh some dealer experience, or else things get way too optomistic. Trends is a max retail price and does not show the whole market. A coin in hand is going to go for far different than Trends. Dealers offer normally 30-40% of Trends and you can buy for 50-70, depending on the scarcity. Some items will still go for more than trends if a scarce variety (that the price hasn't caught up with) or because of eye appeal and grade. Trends should be used as just one input to any "buy" decision.

Bobbo50

<< <i>Mike, the past publisher for Trends, WAS a dealer and a good honest one. He actually lowered more prices than he ever rose (except 65-67 which were taking hold). The past Editor of Trends was a dealer as well (Rick) and did a great deal to bring things into reality. You almost NEED to have an editor witrh some dealer experience, or else things get way too optomistic. Trends is a max retail price and does not show the whole market. A coin in hand is going to go for far different than Trends. Dealers offer normally 30-40% of Trends and you can buy for 50-70, depending on the scarcity. Some items will still go for more than trends if a scarce variety (that the price hasn't caught up with) or because of eye appeal and grade. Trends should be used as just one input to any "buy" decision. >>


Many sellers on eBay think that the Trends prices should be the starting point for their auctions.
I didn't mean to impugn Mike and if it seemed that I was, I apologize.
Your assessment of buying for 50-70% of Trends is a bit on the low side, IMO but you are correct about coins with eye appeal.
I track Canadian sales on eBay and there quality coins reach their Trends value or close to it most times (sometimes more!).
Trouble is that people with graded coins that lack eye appeal seem to think that they should be able to get Trends for their coins and list them at those prices.
Of course, asking and getting are two different things and those coins go unsold.
For quality certified coins with eye appeal I'm willing to pay close to Trends (except post-67 coins).