Poll: Coin club rant, what would you do?

RedTiger

At the local coin club meeting in El Segundo, CA, one of the most respected members launched an unprovoked rant against high grade certified coins. Specifics were $1700 for a high grade registry quality War Nickel. The poll question is what might you have done.

TheCoinGeezer

<< <i>At the local coin club meeting in El Segundo, CA, one of the most respected members launched an unprovoked rant against high grade certified coins. Specifics were $1700 for a high grade registry quality War Nickel. The poll question is what might you have done. >>


One man's rant is another man's impassioned argument.
That must be one heckuva war nickel for $1700!
Since the speaker was "one of the most respected members" (or even if he was one of the least respected members), I'd sit quietly and let him rant.
If he went on too long, I'd step out for some fresh air or a bathroom break.
Just my 2¢

USMoneylover

I'd probably just sit there and watch the show...kind of like some of the soap opera stuff that goes on here. I guess I could publicly state my opinion of his opinion at the meeting... but then someone else at the meeting would be posting a message here similar to yours: How one looney tune was griping about a registry quality nickel, and then another looney tune put him on blast! and told him what a moron he was for his opinion! Most people, even when confronted with facts regarding their opinion won't be swayed to agree with you, might as well save your breath and pick your battles.

krueger

I see lots of certified coins on ebay and at bigger shows being offered at multiples of catalog or moon money.
Question is are they selling, I think not. They are looking for a deep pockets buyer or a fool who is soon parted with his money.
Others see the prices offered then they think theirs is worth that too. Now you have two over priced coins on the market.
I have seen coins being offered at $2500. on ebay with no buyers ,then appear at the heritage auction to sell for $1000.
I have seen multiple copies of an NGC 64 So-called dollar being offered on ebay and at the ANA chicago show for $600.
When Jeff Shevlin sells NGC65's for $200.
The $1700. nickel probably was a fishermans bait coin, with patience I am sure he could find one at a reasonable price.

krueger

Elcontador

I enjoy watching people make fools out of themselves, so I probably wouldn't do anything except observe. If he got to long-winded, I might mutter an obscenity in a foreign language. Spanish, Italian or Serbo-Croatian come to mind.

The guy doesn't sound like he's all there. In this hobby, there are plenty of people who buy slabs and stickers rather than coins, and want to have the finest known registry set. I see it all of the time. Whatever floats your boat; it's your money, buy whatever you like.

MisterBungle

I would sit quietly with a slight smile, watching
the others in the room and hoping for some
fireworks.

If I could add some fuel to the fire by asking
a very innocent sounding question, all the
better.



~

PerryHall

Explain to the ranter the effects of the registry hysteria on the supply and demand for certain coins.

BillyKingsley

Absolutely nothing- it's his opinion, and he's allowed to have one. Weather you (anyone, not you specificially) agrees with him or not is a moot point.

ColonialCoinUnion

I'd leave.

ricko

I like MrBungle's response.... Cheers, RickO

RYK

I would either crack a joke to ease the tension or do nothing. Chances are, I would agree with the guy.

LindeDad

I'd ask why he was only willing to go about sixty percent of it's worth.
Edit to add. It was the overdate wasn't it?

JCMhouston

If I thought I had an argument that was interesting to the other members I would bring it up. However this is one guys opinion, what's wrong with him having an opinion?

In many cases I might agree with him, when I look at the prices paid/asked for many high grade moderns I just shake my head and move on.

crypto79

While i personally agree with the guy I would remind him that there are people who pay much much more for tiny amounts stinky salty fish eggs. To each their own I guess. I bought all of them in PCGS Gem and a PCGS PF66 type2 42 w/ a icg VF 43/2 and a NGC gem 45 DDR the strong but lesser one for 300$. thousands seems like a huge stretch for just better gems

ambro51

When Larry Fine stood in the witness box in "Disorder in the Court", and in an unlikely 'third stooge' show of sprit d' corps he let loose a mighty series of Tarzan Yells. Unlike anything in his entire stooge career, this few moments of loud unprovoked attention getting chest thumping yelling would never be repeated. .....he went on to a nice backburner stooge role of being slapped about. Later he had a stroke.


So...is our friend like Larry here? Is this his one and only screaming chest thumping event? ...or is he the usual comment maker?

.........wheres YouTube when you need it??


(Ill bet he just sold a certified high grade coin he paid full retail for in the top of the market...and ate a huge loss)

razzle

Red Tiger,
I know that personal rants are not what members attend meeting to hear, yet, somewhere within the rant is a clue to whatever "provocation" he perceived. Secondly, there is some shred of truth somewhere within the substance of the "rant." If you can find and acknowledge either, you will have opportunity for rational discussion at a less emotional level. Good luck.

jayPem

<< <i>When Larry Fine stood in the witness box in "Disorder in the Court", and in an unlikely 'third stooge' show of sprit d' corps he let loose a mighty series of Tarzan Yells. Unlike anything in his entire stooge career, this few moments of loud unprovoked attention getting chest thumping yelling would never be repeated. .....he went on to a nice backburner stooge role of being slapped about. Later he had a stroke.


So...is our friend like Larry here? Is this his one and only screaming chest thumping event? ...or is he the usual comment maker?

.........wheres YouTube when you need it??


(Ill bet he just sold a certified high grade coin he paid full retail for in the top of the market...and ate a huge loss) >>



Brilliant.

roadrunner

I'd probably offer a public response if I felt the guy was giving the club the wrong impression that all high grade/high priced slabbed post-1940 coinage was overpriced.
There might be club members who might own such material, or have raw items with the potential to get slabbed in those high grades. And therefore they should not
throw in the towel based on one person's rant. If the ranter had made that $1700 war nick do you think he would have been ranting?

Maybe the club needs a visit from Wondercoin to demonstrate that there is indeed a vibrant market for the best of the best among more modern issues.

roadrunner

JBN

Hopefully the individual knows that the market dictated the $1700 price. Transaction was not done at gunpoint.

The hobby is full of different people collecting different material. No need to rant about it. Respect the collector.

The next speaker at the meeting should state the above. Everybody's different.

johnny9434

to each our own. id sit and watch with mr bungle

swhuck

Interrupt him with the worst pun I could think of.

BillJones

I've had my personal rants (more like reasoned comments) here about over priced modern coins for which collectors have paid crazy money, mostly in the interest of getting registry points. My point was that the prices were too high, and that those who bought those coins would be sorry in the future when the market got some sanity. I took my lumps here big time. The the market for these over priced things did drop, and many of those who vilified me don't have much to say any more.

At any rate a $1,700 high grade War Nickel would need to sing, dance and shake you hand IMO. Since you didn't say what grade rates $1,700.00 I can't say what I'd do. BUT if MS-67 is the grade, I might go up to the ranter after the meeting and tell him, "I agree with you."

RedTiger

Thanks for all the replies. Not sure why anyone would leave. Everyone has an opinion, though many of them are wrong.

I squirmed in my seat when the rant went on. I went up to the guy in private and joked with him, "you should go up to the PCGS table and set those guys straight." He responded without any temper, that he only offered his opinion. I think the actual rant was not a live coin for sale, just a price guide listing, though I'm sure some coins have moved at or near guide price for registry quality specimens. A bit more background, the majority in the club favor raw coins, of relatively low value. Maybe 20% in the club actively collect certified coins of any significant value, maybe less than that. I doubt a single club member would be remotely interested in buying a $1700 war nickel for their collection, so there was no one that would really take offense.

The forum responses do show a difference in what happens on the Internet vs. in person. If someone posted a similar rant here, it is likely that the few with strong opinions would respond and created a heated flame war of 100 posts. If someone posts a rant and wants to defend their position against say five vociferous disagreements, that thread jumps to the top of the list. Add in a few wise acre jokes and 100 posts is easily reached.

Timbuk3

That must be one heck of a nickel !!!
I'd sit quietly and not get involved.

Lakesammman

I'd ask him if he was the underbidder.