Warren Mills Baltimore report and latest thoughts.

tcmitssr

Interesting commentary from the dealer that I regard as the best in the country.

http://www.rare-coins.com/app.cfm?template=newsdetail&NID=2919&Index=yes

crypto79

let there be LINK!!!!!

Also it should be noted while nice, the Trade Dollar in his innovatory is kind of a dipped out Type coin. Yes it is a CC and in an OGH but it kind of fly's in the face of all the advice he "talked" about.

TPRC

Interesting post. Having taken the Warren Mills-referenced advanced grading class in Colorado Springs a couple of times, I can say that it would be a real pleasure to have him teach the class. Bill Shamhart, in particular, spent considerable time in that class on the appreciation of originality. I recall him opining a few years back that he is saving pieces, even relatively inexpensive pieces, like xf gold type, just to have so that folks will know what a real original circulated gold coin looks like.

If Warren Mills ever teaches that class, I'm signing up.

Walkerguy21D

Interesting post.
He is having and seeing the same problems that a lot of the small to mid size dealers that I know are having.
I don't know though that it's because there are fewer original coins than a few years ago....rather it seems they are in stronger hands, being held longer, and then going to straight to auction, or to the major dealers who have retail clients lined up for the good stuff. Time and again I hear variations of 'nothing's coming in, anything nice I get flies out the door, if it wasn't for bullion we'd be having another bad year'.....etc. And like he also stated, anything nice and original had high price tags on it. I'm sure with all those dealers, there were some nice coins there - but when they are already priced near the top of the pyramid, it doesn't leave him any room. Definitely a tough situation, and I'm guessing I'll see a similar situation at Summer FUN in a couple weeks.

TPRC

I agree, but I also infer from the post that too many people are getting otherwise decent original coins and dipping them white in hopes of achieving an extra point or so in grade and that the grading services, in essence, tacitly promote this practice by rewarding white coins with higher grades. That is unfortunate, IMO.

bidask

great report and coming from him only further supports the argument of the scarcity of attractive original surfaces coins....

pruebas

He certainly pulls no punches.

Pardon my stupidity, but what does "cellophane burned to death" mean?

Elcontador

<< <i>I agree, but I also infer from the post that too many people are getting otherwise decent original coins and dipping them white in hopes of achieving an extra point or so in grade and that the grading services, in essence, tacitly promote this practice by rewarding white coins with higher grades. That is unfortunate, IMO. >>



This is what I am seeing as well. I also see many flashy coins which have probably been upgraded because of eye appeal, despite glaring surface chatter.

TDN, a month or so back, did a disturbing show and tell re how an original Unc. Bust $ was dipped and subsequently upgraded. The original coin imo was quite attractive. The dipped one, even though it upgraded and was probably worth quite a bit more than the original, imo, was an expensive numismatic abortion.

DaveE

"numismatic abortion" great term!

Bear

If dealers were willing to pay up for the really nice coins, then we would sell them

the really nice coins. They seem to want to buy on the cheap and sell on the expensive.

That just ain't gonna work. You want, you pay.

MrEureka

...And if enough collectors paid enough for originality, dealers wouldn't have to dip as many coins. Chalk it all up to laziness, not just by the TPGs but by collectors and dealers as well, in so many ways.

TomB

<< <i>If dealers were willing to pay up for the really nice coins, then we would sell them

the really nice coins. They seem to want to buy on the cheap and sell on the expensive.

That just ain't gonna work. You want, you pay. >>



This is kind of a chicken and egg arguement. I pay up for wonderful coins all the time, yet it can be like pulling teeth to get folks to buy a coin that is priced well above Greysheet for the grade. So, you have an enormous pool of collectors who are wed to the Greysheet when the buy, but want substantial premiums for the same type of material when they sell.

Bear

Well, apparently, I am one of the collectors that ends paying up for nice coins.

Why oh why, does it always have to be me.

coinkat

This is nothing new-

Look at some threads on this subject on this forum from years past-