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Future for high end coins?
topstuf
Posts: 14,803 ✭✭✭✭✭
I'm being sorely tempted by a five figure coin and don't want to succumb to it.
Why?
I know 5 figures doesn't cover REALLY high enders.
Jeez, I'm seeing dreck like capped bust dimes in XF going for nearly a thousand bucks which in MY opinion is pure NUTS!
BUT.... I'm also seeing every hi ender that catches my eye gone within 3-4 days from any site offering.
So WHO is gonna.....keep.... buying these things? Joe Doakes has no future as a middle class American and his kids have even less of a shot.
So, will the ultra RICH continue soaking money into condition rarities or cry uncle as they head ever higher into the stratosphere?
I'm purty old and am selling all my OTHER collectibles and even some rare coins and feeling better with every one that goes away.
But then there's the apparently HOT market for anything super condition.
A quandary. So far I'm being successful at avoiding that 5 figure baby I have been watchin.
Why?
I know 5 figures doesn't cover REALLY high enders.
Jeez, I'm seeing dreck like capped bust dimes in XF going for nearly a thousand bucks which in MY opinion is pure NUTS!
BUT.... I'm also seeing every hi ender that catches my eye gone within 3-4 days from any site offering.
So WHO is gonna.....keep.... buying these things? Joe Doakes has no future as a middle class American and his kids have even less of a shot.
So, will the ultra RICH continue soaking money into condition rarities or cry uncle as they head ever higher into the stratosphere?
I'm purty old and am selling all my OTHER collectibles and even some rare coins and feeling better with every one that goes away.
But then there's the apparently HOT market for anything super condition.
A quandary. So far I'm being successful at avoiding that 5 figure baby I have been watchin.
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Comments
My advice would be not buy anything on which you feel you cannot accept a loss.
Edited for a missing letter.
I have little doubt that they will continue to hold their prominence as true stores of wealth.
I have seen a few market drops.
While the real rare and beautiful gems may flatline, they seem to hold on to their value even in times of economic distress.
They tend not to tank as other commodity type material does.
In times of currency devaluations they escalate rapidly.
I plan to hold on to, and pass on to my heirs, my rarest and most irreplaceble prizes.
Them, and the junk that I cannot unload.
Grade condition rarities hold little value to me if there are way too many others graded just one point below them.
It is the true rare in any grade gems that never really lose their values, and they often tend to show lower price guide values than is warranted.
This is generally due to their lack of sales.
When they do appear for sale, they usually sell for multiples of stated pre sale estimates.
Just getting up in years and the estate will be better off with the monster stash of bullion than it will be with the rare coins I still have.
WHICH..... is another "poser" as I don't think the heirs would care either way and will sell the coins for peanuts.
They have no interest.
At least the hosing they'll get on the bullion won't be as severe.
Real question is if I really care what happens to the ...heirs.
Be it guns, coins, or cars or antiques, the demographics are negating ALL past trends.
<< <i>Neca63, you may be right...BUT.... my contemporaries seem to be facing the same decision.
Be it guns, coins, or cars or antiques, the demographics are negating ALL past trends. >>
I think that all of us boomers are facing the same dilema.
Keep the rarest irreplaceble ones if the heirs understand their value and import.
True gems do not loose their value. Valuations change around them.
Having said that I would gladly "get buried" again if I could find an 1838-C half eagle that I liked, but my list of such items is getting short in this market.
<< <i>If you want the coin to enjoy, buy it. If for investment, pass. Cheers, RickO >>
DAMMIT RickO...... Aaaaaaarrrrrrghhh !!!!
<< <i>If you want the coin to enjoy, buy it. If for investment, pass. Cheers, RickO >>
Riko. You just well said a mouthful.
But, if you are holding on to true rarities. I say keep them.
The strong money follows the rarities.
If you want to get a little insight into current market valuation trends, look no further than recent scarce high grade ms66 full step Jeff auction results... and, those coins are tough.
Is it just me, or am I seeing a general decline in valuations?
Not only am I not buying any more coins, I am getting my common date gems returned back to me as unworthy of sales effort.
After over 50 years of collecting hardly anything but finest known material, what could I infer?
They were my market condition front coins.
<< <i>
I'm purty old and am selling all my OTHER collectibles and even some rare coins and feeling better with every one that goes away.
>>
I think your answer is here.
If the value of your coins is very important to you then realizing that value is very important at this time.
<< <i>Neca63, you may be right...BUT.... my contemporaries seem to be facing the same decision.
Be it guns, coins, or cars or antiques, the demographics are negating ALL past trends. >>
Not about coins cause the last 2 weeks I have been at gun shows without a table just walking the isles and BS'ing with dealers. In my area the greed seems to be gone and a lot of nice guns are available, gun buy offers are low imo at about 35 cents on the retail dollar and it is easier to pick up nice collectible guns at 50 cents on the dollar. The difference between gun and coin shows is a lot more goes on between non dealers in the isles and by the door area. Lots of guns change hands at a gun show that does not involve dealers getting a cut.
I don't see a lot of people at a coin show with a flag sticking up advertising a 1815 PCGS capped bust half for sale with other collectors chasing them down to make a deal.
Left the show and headed out to Texas Motor speedway for a "laps for charity" event where some money is raised for charity. Anything from mini vans to lambo's are out there. The crowd was smaller but there were a couple of Lambo's, a dozen vipers, 40 vettes, a lotus, a Mclearen and a hundred other everyday cars.
So while I see a bad economy for most there is still plenty of money being spent by some.
As 291fifth said it well, you got to decide. I have the same concerns you do, so my approach is to have my collector dollars in as many different areas as possible. Like you said above many coins disappear in a few days and I scratch my head at the price they bring and feel the buyer is buried for a while, that 40 percent mark up on some is hard to overcome and swallow. 20 years down the road it may be a bargain or a curse. A lot of raw coins sold in the 80's did not bring the sellers a profit in 2003 to 2008 from some I had seen as the dears sold way overgraded doctored raw coins. The grading companies and the internet have become a blessing and a curse to some
NGC registry V-Nickel proof #6!!!!
working on proof shield nickels # 8 with a bullet!!!!
RIP "BEAR"
<< <i>I'm being sorely tempted by a five figure coin and don't want to succumb to it.
Why?
I know 5 figures doesn't cover REALLY high enders.
A quandary. So far I'm being successful at avoiding that 5 figure baby I have been watchin.
How long you been watching the above? More than 3 days or more just a general statement?
I have a lot of the same concerns you have but why sell much anyway now? The money in the bank is worthless as my cd's show. My business is good in low end rental but I am stuck in that rut since I am around the bottom all the time. I do not run in the high end social circle so I do not have friends buying 5 figure coins.
NGC registry V-Nickel proof #6!!!!
working on proof shield nickels # 8 with a bullet!!!!
RIP "BEAR"
I would rather have an 1802 50c in AU55 than a 1896 $5 in PR64DCAM.
A full cheek common date HE 50c in 63. Wholesome 53-62 Early $5's. 1921-S 50c XF45-AU58. 1916-D 10c AU58FB.
1924P $20 MS67? Or an EAC VG10 99/8 in VF20 CAC. Actually the last sounds like over 30K (Moose, some help?)
Which will have the stronger demand opportunities and firmer support levels for a 5-10 year investor?
<< <i>I would rather have an 1802 50c in AU55 than a 1896 $5 in PR64DCAM.
36 RE 50c XF45 or MS67 Lib QE ?
Which will have the stronger demand opportunities and firmer support levels for a 5-10 year investor? >>
ill take the original surface xf 45 1836 reeded edge for a 10 year hold.
I give away money. I collect money.
I don’t love money . I do love the Lord God.
<< <i>I would rather have an 1802 50c in AU55 than a 1896 $5 in PR64DCAM.
36 RE 50c XF45 or MS67 Lib QE ?
Which will have the stronger demand opportunities and firmer support levels for a 5-10 year investor? >>
See that is why you are the Col. as I have always wanted to own a proof gold piece.
Just for grins I would like to see what guys like the Col., roadrunner, TDN ad 3 or 4 more would pick for coins for the next 10 to 15 years from $ 0 to 5k, $5 to $10k and over $10k
NGC registry V-Nickel proof #6!!!!
working on proof shield nickels # 8 with a bullet!!!!
RIP "BEAR"
<< <i>
See that is why you are the Col. as I have always wanted to own a proof gold piece.
Then buy a Matte $2 1/2 Indian in PR64. . .
Then it's not "popular."
I had a proof $5 lib for a while and it was purdy but it was hard to get rid of.
Oh... I've answered my own dilemma. I just listed a thing on eBay and it is JUST TOO MUCH TROUBLE TO SELL STUFF!
BURN that into my mind.