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Nefarious methods of driving up coin prices
braddick
Posts: 23,106 ✭✭✭✭✭
Have there been methods in the past that have facilitated the false driving up of coin prices?
I'd think, for example, if a dealer/collector owned a dozen of something and wanted to sell at the highest price he may list the coin at those high prices and subsequently pull the item as "sold", thus creating a higher pricetag.
I'd think listing one in a famous national auction and bidding (along with other(s)) to drive the price up to a false record level and then listing another would also give the impression to collectors the coin has been legitimately driven to a higher level.
Anyone with first or second-hand experience with this?
Even anecdotical 'evidence' would be enjoyable to read.
I'd think, for example, if a dealer/collector owned a dozen of something and wanted to sell at the highest price he may list the coin at those high prices and subsequently pull the item as "sold", thus creating a higher pricetag.
I'd think listing one in a famous national auction and bidding (along with other(s)) to drive the price up to a false record level and then listing another would also give the impression to collectors the coin has been legitimately driven to a higher level.
Anyone with first or second-hand experience with this?
Even anecdotical 'evidence' would be enjoyable to read.
peacockcoins
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I wonder too if the promotion of the "Speared Bison" or even the "Missing P" 1989 quarter were somehow involved in overhyping.
peacockcoins
mark
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
^
I wonder too if the promotion of the "Speared Bison" or even the "Missing P" 1989 quarter were somehow involved in overhyping.
The "Speared Bison" was definitely overhyped...here on the boards even and possibly other areas.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
I recall the case of a Civil War merchant's token that was, for decades, considered to be very rare. In the 1980's a very well known dealer (who is still very much active today) started advertising the token at quite high prices even though his firm knew very well that the hoard they had purchased would eventually make this nothing more than another common token. I seem to recall that their advertising referred to the item by it's previously assigned rarity number. The word got out fairly quickly that this was a hoard item so I doubt if many people bought one at the inflated price.
That unethical behavior would make the dealer a persona non grata to me and probably many others.
Latin American Collection
The raison d'etre for the phrase 'Caveat emptor'.....Cheers, RickO
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.americanlegacycoins.com
Just a worthless drain of potential numismatic interest, involvement, and money.
US Mint "products" are a pox on our hobby.
Just a worthless drain of potential numismatic interest, involvement, and money.
Aren't most of which is discussed on this forum US Mint "products"?
Later this same firm had retail promotion for the same sort of items, if not the same items, at strong prices.
US Mint "products" are a pox on our hobby.
Just a worthless drain of potential numismatic interest, involvement, and money.
Aren't most of which is discussed on this forum US Mint "products"?
Not to my thinking.
I consider COINS to be a medium of exchange and a marker for your wealth.
I think that's one of the reasons that mint state COINS are more popular than proofs which are ....sorta.... a product.
I understand you comment about the collector desirability for pieces that were minted for commerce as opposed to coin cabinets. Still I like nicely preserved Proofs because they often provide a better impression of the a coin's design. This is important to me as a type collector. Another bonus is that, in recent years, Proofs have tended to sell for less than their Mint State counterparts.
First strike
Anything that I need to sell, that is not high enough IMHO, needs to be manipulated up to allow me to sell.
"Seu cabra da peste,
"Sou Mangueira......."