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Is wholesale the new retail? Is bid the new ask?

2ltdjorn2ltdjorn Posts: 2,329 ✭✭✭✭
in U.S. Coin Forum
Seems so to me!
WTB... errors, New Orleans gold, and circulated 20th key date coins!

Comments

  • mingotmingot Posts: 1,807 ✭✭✭
    inb4 "depends on the coin"
    Sell me a coin or three!
  • guitarwesguitarwes Posts: 9,290 ✭✭✭

    IMO, for common stuff, yes. Every show I've been to the past couple years dealers were buying at 30% back of bid and selling at bid or just a bit over.

    For rarer stuff (a problem free VF 1868 Seated Quarter for instance), price guides don't touch them.
    @ Elite CNC Routing & Woodworks on Facebook. Check out my work.
    Too many positive BST transactions with too many members to list.
  • originalisbestoriginalisbest Posts: 5,971 ✭✭✭✭
    I would guess so, but I've always been a retail buyer (at no kind of price levels/stuff that it really matters much.) Would love to be in tune with the wholesale market but really haven't developed the contacts, and haven't had the time in the past few years as family needs take precedence. Perhaps one day! image

    Anyway, as far as the coins that mostly interest me, they would be akin to the example guitarwes makes (a nice VF '68 quarter) and I wouldn't worry so much about the wholesale vs. if I liked it and wanted to impound it in my collection for a long time.

    More often than not, if I buy something in gold or silver, I just want to be as fairly close to the prevailing melt value as I can. Rare date gold is something I ain't got!
  • 291fifth291fifth Posts: 24,694 ✭✭✭✭✭
    Common material is in free fall so far as value is concerned. I see the same thing in hobbies other than coins.

    The internet has revealed just how common most "collectibles" really are.
    All glory is fleeting.
  • originalisbestoriginalisbest Posts: 5,971 ✭✭✭✭
    Sunshine, lollipops, &, rainbows, all around... image
  • renomedphysrenomedphys Posts: 3,823 ✭✭✭✭✭
    At a B&M yesterday I asked for a "best price" knowing full well that "ABEX" on the back of the slab meant that the dealer had paid $1250. I was honestly expecting maybe a 5% discount to help with the sting of sales tax, but the dealer offered me the coin for his price (plus tax). Of course, he also asked me to pay cash.

    I'm not sure if this was the fruit of having known the dealer for many years, and having bought many coins from him in the past, but I did agree to buy the coin, and will pick it up today.

    Thinking about the deal, the same thought occured to me as the OP.

    Empty Nest Collection

  • renomedphysrenomedphys Posts: 3,823 ✭✭✭✭✭


    << <i>Common material is in free fall so far as value is concerned. I see the same thing in hobbies other than coins.

    The internet has revealed just how common most "collectibles" really are. >>


    THIS!

    My wife and I have been collecting Swarovski Crystal doo-dads since we met. No, not the dinky ladybugs, but the larger pieces, like candlesticks and flowers. We also get the ornament every year as a gift from her sister. Anyhow, it would seem that we own singles of a couple of retired pieces (candlesticks), and are missing a couple of years from out 15 year run of ornaments. It occurred to me to try to find them on eBay. Guess what? Now, they're cheaper than when I bought them, save for a certain year ornament that appears to be genuinely rare.

    Empty Nest Collection

  • originalisbestoriginalisbest Posts: 5,971 ✭✭✭✭
    Any minute now, I'm expecting to cash in -- BIG -- on those Hummels and Beanie Babies -- you betcha!
  • renomedphysrenomedphys Posts: 3,823 ✭✭✭✭✭
    Unopened Lego Star Wars "Collectors Series" continue to climb. Actually made money on some of these a few years back image

    Empty Nest Collection

  • originalisbestoriginalisbest Posts: 5,971 ✭✭✭✭
    Yep, and various Transformers, various video game systems and vintage games (only certain ones) are hot. Thousands if untouched in the package, for some. I have absolutely zero interest in them, then, now and forever, but more power to those who can find collectors willing to pay them $$$ for same.
  • LindeDadLindeDad Posts: 18,766 ✭✭✭✭✭
    Anyone want some of those plates you know the Rockwell lead fired clay ones. I know where there are a bunch that are available cheap.
    image
    My Current project....https://www.pcgs.com/setregistry/mysetregistry/album/160794
  • AngryTurtleAngryTurtle Posts: 1,588 ✭✭✭


    << <i>At a B&M yesterday I asked for a "best price" knowing full well that "ABEX" on the back of the slab meant that the dealer had paid $1250. >>



    Thats not much of a price code!
  • abitofthisabitofthatabitofthisabitofthat Posts: 2,142 ✭✭✭


    << <i>IMO, for common stuff, yes. Every show I've been to the past couple years dealers were buying at 30% back of bid and selling at bid or just a bit over.

    For rarer stuff (a problem free VF 1868 Seated Quarter for instance), price guides don't touch them. >>



    Agreed. At the ANA, i paid about double sheet for quite a few coins - Which included an 1851-O quarter, an 1839-O half, and other neat stuff. I paid well back of sheet for widgety coins.

    merse

  • originalisbestoriginalisbest Posts: 5,971 ✭✭✭✭
    Would love to see pics of those pickups! image
  • coinbufcoinbuf Posts: 11,825 ✭✭✭✭✭


    << <i>Common material is in free fall so far as value is concerned. I see the same thing in hobbies other than coins.

    The internet has revealed just how common most "collectibles" really are. >>



    Dang and I was just going to sell the entire collection, now I'll have to wait for an upturn image
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  • Walkerguy21DWalkerguy21D Posts: 11,715 ✭✭✭✭✭
    I would love to find any early to middle date large cents at anything close to Greysheet values!
    May as well ask for better date Barber dimes, quarters, and halves while I'm dreaming....

    But I did pay AU50 Ask the other day for a 34S buff in an NGC58 holder at my local B&M - no extra charge for beautiful toning image
    Successful BST transactions with 171 members. Ebeneezer, Tonedeaf, Shane6596, Piano1, Ikenefic, RG, PCGSPhoto, stman, Don'tTelltheWife, Boosibri, Ron1968, snowequities, VTchaser, jrt103, SurfinxHI, 78saen, bp777, FHC, RYK, JTHawaii, Opportunity, Kliao, bigtime36, skanderbeg, split37, thebigeng, acloco, Toninginthblood, OKCC, braddick, Coinflip, robcool, fastfreddie, tightbudget, DBSTrader2, nickelsciolist, relaxn, Eagle eye, soldi, silverman68, ElKevvo, sawyerjosh, Schmitz7, talkingwalnut2, konsole, sharkman987, sniocsu, comma, jesbroken, David1234, biosolar, Sullykerry, Moldnut, erwindoc, MichaelDixon, GotTheBug
  • bronco2078bronco2078 Posts: 10,425 ✭✭✭✭✭


    << <i>Unopened Lego Star Wars "Collectors Series" continue to climb. Actually made money on some of these a few years back image >>



    A pawn shop in the town I live in has a sign in the window that says

    "CASH FOR LEGOS"

  • pruebaspruebas Posts: 4,653 ✭✭✭✭✭


    << <i>

    << <i>Common material is in free fall so far as value is concerned. I see the same thing in hobbies other than coins.

    The internet has revealed just how common most "collectibles" really are. >>


    THIS!

    My wife and I have been collecting Swarovski Crystal doo-dads since we met. No, not the dinky ladybugs, but the larger pieces, like candlesticks and flowers. We also get the ornament every year as a gift from her sister. Anyhow, it would seem that we own singles of a couple of retired pieces (candlesticks), and are missing a couple of years from out 15 year run of ornaments. It occurred to me to try to find them on eBay. Guess what? Now, they're cheaper than when I bought them, save for a certain year ornament that appears to be genuinely rare. >>

    I'm not sure about Swarovski, but some lead crystal is now made in China. That may be putting downward pressure on pricing?
  • Cougar1978Cougar1978 Posts: 8,782 ✭✭✭✭✭
    If someone said something like that to me at my table at a show (greysheet is the new retail) I would ask him if he had anything he had to sell at bid. Perhaps you should try to educate Legend to that, they hardly sell at sheet prices LOL. Comparing many ads in CW, the average dealer markup above CDN bid was Bid + 40%. I have done extensive analysis on this.

    There are all kind of manipulators at shows, and this garbage about greysheet being the new retail is one of their ploys.
    Investor
  • Cougar1978Cougar1978 Posts: 8,782 ✭✭✭✭✭


    << <i>

    << <i>At a B&M yesterday I asked for a "best price" knowing full well that "ABEX" on the back of the slab meant that the dealer had paid $1250. >>



    Thats not much of a price code! >>



    No its not - I mix up mine.
    Investor
  • 2ltdjorn2ltdjorn Posts: 2,329 ✭✭✭✭


    << <i>If some dunce said something like that to me at my table at a show (greysheet is the new retail) I would ask him if he had anything he had to sell at bid. Perhaps you should try to educate Legend to that, they hardly sell at sheet prices LOL. Comparing many ads in CW, the average dealer markup above CDN bid was Bid + 40%. Looks like you need to go back to school. >>




    What school is that gramps?
    WTB... errors, New Orleans gold, and circulated 20th key date coins!
  • OverdateOverdate Posts: 7,159 ✭✭✭✭✭


    << <i>But I did pay AU50 Ask the other day for a 34S buff in an NGC58 holder at my local B&M - no extra charge for beautiful toning image >>


    I want one of those! image

    My Adolph A. Weinman signature :)

  • RB1026RB1026 Posts: 1,487 ✭✭✭✭
    It seems I always pay higher than "ask" and sell lower than "bid"...LOL Seriously though, collectibles by their very nature are HIGHLY emotional purchases and pricing is incredibly subjective. One man's trash truly is another man's treasure. I have a large network of collecting "friends" that I buy-sell-trade and converse with regularly. At any moment in time, half of them are screaming the sky is falling and the other half are moving items above listed market prices and laughing all the way to the bank.

    In my opinion, it all comes down to what you own, who you know, what you paid for it, and how effectively you sold it as factors to determine your take on pricing and results. I recently sold a non-numismatic item for triple my cost at a nice 5 figure price at a time when others swear that hobby is floundering. On other items, both coin related and not, I've sold recently at or below cost. My choice.

    Is the sky falling or is the market strong? Yes and Yes image

    In this environment, it seems it is very prudent to be extremely selective when buying. Holding out for the combination of high quality/true rarity continues to perform well. Everything else seems pretty hit and miss.

    So, directly to the point of the OP.......Is wholesale the new retail? I say Yes and No. It totally depends on the item. Some things, if you are paying attention, can be had for a fraction of guide. Others can't be had anywhere close to guide. The key is to learn your market and act accordingly.
  • MidLifeCrisisMidLifeCrisis Posts: 10,550 ✭✭✭✭✭
    The obvious answer to the OP's question is "it depends".

    There sure is a lot of truth to this though: The internet has revealed just how common most "collectibles" really are.
  • pennyanniepennyannie Posts: 3,929 ✭✭✭


    << <i>At a B&M yesterday I asked for a "best price" knowing full well that "ABEX" on the back of the slab meant that the dealer had paid $1250. I was honestly expecting maybe a 5% discount to help with the sting of sales tax, but the dealer offered me the coin for his price (plus tax). Of course, he also asked me to pay cash.

    I'm not sure if this was the fruit of having known the dealer for many years, and having bought many coins from him in the past, but I did agree to buy the coin, and will pick it up today.

    Thinking about the deal, the same thought occured to me as the OP. >>



    You did not get the memo, your B$M code of ABEX is now 625 dollars.image

    Lets see some pics!!
    Mark
    NGC registry V-Nickel proof #6!!!!
    working on proof shield nickels # 8 with a bullet!!!!

    RIP "BEAR"
  • abitofthisabitofthatabitofthisabitofthat Posts: 2,142 ✭✭✭


    << <i>

    << <i>IMO, for common stuff, yes. Every show I've been to the past couple years dealers were buying at 30% back of bid and selling at bid or just a bit over.

    For rarer stuff (a problem free VF 1868 Seated Quarter for instance), price guides don't touch them. >>



    Agreed. At the ANA, i paid about double sheet for quite a few coins - Which included an 1851-O quarter, an 1839-O half, and other neat stuff. I paid well back of sheet for widgety coins. >>



    As a follow-up to my comment above, I have since easily sold the 1839-O half (AU+), 1851-O quarter (VF), and a nice 1861-O CSA Obverse (XF45) half I picked up at the ANA. The widgets I bought, cheap, are gathering dust.

    merse

  • CoinRaritiesOnlineCoinRaritiesOnline Posts: 3,681 ✭✭✭✭


    << <i>At a B&M yesterday I asked for a "best price" knowing full well that "ABEX" on the back of the slab meant that the dealer had paid $1250. >>



    There are sometimes people who write a simple and easy to decipher code like "ABEX" on the back of a slab so that prospective buyers might think they paid 1250, when in fact they paid much less.

    Not that that matters.

    John Agre

    Coin Rarities Online
  • LochNESSLochNESS Posts: 4,829 ✭✭✭


    << <i>...There sure is a lot of truth to this though: The internet has revealed just how common most "collectibles" really are. >>


    Agreed. One of the side-effects from eBay.
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  • jdimmickjdimmick Posts: 9,780 ✭✭✭✭✭
    That is correct, I know of two dealers who use a simple code, and it gives the buyer (what he thinks is an easy to decipher code) a clue as to what he has in it, and its entirely incorrect. Its much higher than he actually paid. One in particular , he told me if makes the buyer think he is getting a good deal, as he is selling just over what he paid. (which is false)
  • mrpotatoheaddmrpotatoheadd Posts: 7,576 ✭✭✭
    Basing your decision to buy on the amount the seller paid is a good way to overpay for a coin yourself. Or miss out on a good buy.

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