An interesting observation: there are 3x as many coins I collect available now vs 2 years ago....
mercurydimeguy
Posts: 4,625 ✭✭✭✭
Yet paradoxically some of the asking prices have climbed 2x over the same period of time and they aren't being sold...
Am I missing something? They are in a very niche market and I would spend 1-2 years to locate one or two pieces, I now know where I can buy 10...yet their prices are higher than before.
Help me understand, thanks!
PS. I'm not being sarcastic, I am literally a bit confused...
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Listing a coin for sale on a website at $xxx, doesn't mean that's the true market price.
Does this item ever appear in an auction format with no reserve?
That might give you a better idea of what the "real" price level is for this item.
Kinda like the guy that bought a bunch of 1909 VDB proofs.
He is probably getting to know the true price level for his item vs his asking price.
Many of the sellers of this type of material probably visit web sites such as this one to identify varieties that are currently receiving publicity. They hope the publicity will spur additional demand from collectors with more enthusiasm than sense. They price their material high and hope that one of those over-eager collectors bites.
If you ask their buy price I suspect you will receive either no reply or an indication that they have an adequate supply and don't need any more.
I've noticed that as well.
Especially on the websites.
Locally at the dealers and coin shows most are just bouncing gold and silver off each other. I don't think the coin inventory (non junk and non Eagle) is turning much (except Morgan's, they are crazy about Morgan's around here)
"> (except Morgan's, they are crazy about Morgan's around here)
Where is "here" because I've spent about 5 months floating around very nice Morgans and I can't even get to talking price because nobody has any interest whatsoever.
I've spoke to 3 top PCGS registry owners who are looking to SELL. Almost nobody buying anything.
Market does seem strange right now... some prices up... other areas not moving... This strictly from a collector view.... Not sure why @planonit sees Morgans not moving... from what I have seen, those and dimes still seem to be doing well... Cheers, RickO
For me it means while there may be more material now, than before; Its only because I am seeing the same stuff over and over. It may be that its getting sold from dealer to dealer, but like everyone here has figured out..its too darn high and not selling because of it. I do get a bit of satisfaction holding out, watching the pops grow and someone finally gives in and reduces the price to a realistic level. Be Patient!
WS
I have noticed a LOT more items in my area of interest in the last few months.
Fortunately the prices have been reasonable.
There's three times as many coins around
because there is 1/3 less collectors in the market
from 3-5 years ago.
for PCGS. A 49+-Year PNG Member...A full numismatist since 1972, retired in 2022
1/3 less! I wouldn't have guessed that much.
Latin American Collection
We are an occupied people. Few are content to sit there and study the things that we numismatic sorts like most. And being the solitary hobby it is, I can't make heads or tails of what others are doing, thinking , or chasing after.
Well, that was just a number to
go along with the "Three Times As Many"
headline.
I'm sure in some areas it's 20% to 35% less
collectors/buyers......
for PCGS. A 49+-Year PNG Member...A full numismatist since 1972, retired in 2022
Which guy? Can you elaborate on the 09 vdb proofs?
In Tennessee, both local dealers here flip decent and up Morgan's pretty fast. I don't know the buy / sell on them because they don't last that long, they have a dedicated list of long timers that take the nicer ones they make a few calls and they are gone leaving 21's, cleaned and culls and lucky for me Peace Dollars.
I looked at a couple you are selling and very very nice Morgan's and the prices in line. I'm at a loss as to why they haven't sold.
This guy
https://forums.collectors.com/discussion/928292/collector-owns-53-1909vdb-matte-proof-lincoln-cents-with-link-to-cw/p1
coinworld.com/news/us-coins/2014/10/matte-proof-lincoln-cent-collector-focuses-on-vdb-variety.all.html
Do you think collectors have gone away or just a big chunk of discretionary income? and some collectors are liquidating some of their extras and/or core collection?
I feel that a lot of it is that the middle class either doesn't have
the disposable income for numismatics that it had 3-5 years ago,
or, if they have it, they've been burned from the recession, and
haven't participated as much in the stock market rise, or still in
many areas of the country, their home values haven't come up
to where they might have been 4-7 years ago.
I know that there are alot of areas where real estate has done
very very well in the past few yeas, but not in all areas of the country.
And of course demographics are a factor. The under 30-35 crowd
just doesn't have much contact with physical coins or currency anymore.
for PCGS. A 49+-Year PNG Member...A full numismatist since 1972, retired in 2022
Is it possible that CAC is partly responsible? Seems a lot more collectors are now demanding stickers so that likely is depressing the market demand for the numerically greater numbers without stickers resulting in the increased coins now available? Of course the CAC coins themselve have at the same time become more expensive.
That hypothesis also matches the 3-5 year time period. As a corollary can a case be made for at least some of those 1/3 less collectors in the market having been motivated to drop out as a consequence of the "best or nothing" mindset fostered by stickering?
There are less collectors, the internet has driven up what coins sell for (not necessarily what they are worth), and for the collectors who are left they seem to REALLY want the coins they want and will bid as high as necessary to win them.
YN Member of the ANA, ANS, NBS, EAC, C4, MCA, PNNA, CSNS, ILNA, TEC, and more!
Always buying numismatic literature and sample slabs.
Couple things are possible...the internet is a great leveler. People think coin A is scarce, they go looking...the act of looking causes others to say, so and so is looking, it must be worth more...that drives price up while the "looking" increases available supply. Also, how scarce an item is it? I have a colonial that is CC #7 or so, but there are only 4 or 5 collectors actively pursuing a variety set. CC #5 might be worth $2k, and CC #7 is $200. And people who own CC #6 and #8-10 don't know the background so they try to jack their prices and they just sit. Little rambling, but hey...