Why does "freshness" to the market seem to bring such premiums at auction?

291fifth

...or does it?

BillJones

It probably has something to do with the herd mentality. If a coin has been recycled through the auctions few times in recent memory some people might wonder why it can't find a "forever home." "What's wrong with it?" It also has a track record with respect to price. People know what it brought only a few months before.

A coin that has been off the market for years might have mystic, especially if it is from a "name" collection. The market value is still a bit of a question, and speculation might drive the prices higher.

"Old holders" also have a mystic. "Everybody" knows that coins in "old holders" are conservatively graded ... right? Well, you can't always take that one to the bank, but some people do.

This may have been what was happening with the Blue Moon sale that was held yesterday. Some of the prices seemed strong.

I was surprised to note, however, the fair number of coins that were in "details" holders. It makes you wonder how those pieces were described in the auctions of yesteryear. It's hard to believe that the previous owner messed them.

shorecoll

I've had some old auction coins from pre-TPG days end up in details holders. I think what is market acceptable changes (see busthalfbrian's discussion on a graffiti'd half). Old slabbed coins carry somewhat of a premium, because if they still look like that after 15 years, they'll likely still look like that in another 15...so you don't have to worry about the putty or grease changing color.

JJSingleton

"Fresh" for the most part is dealer hype. I have seen it used for coins that have been off the market for as little as 3 or 4 years. There is a lot to be said about coins that have been held for 15+ years by knowledgeable collectors for sure. But most of the time "Freshness" is overrated. Buy the coin, not the hype.

Sonorandesertrat

'fresh' = 'we're trolling for greater fools'

1630Boston

Freshness is for fruit and vegetables

10000lakes

I think "fresh" in the today's coin world equates to how many grading events has the coin seen recently.
Blue Moon is considered fresh, unless standard practice is to submit coins placed in a auction multiple times to max out the grade. There were probably many coins that had a shot at the next grade up, that drives realized prices higher.
Close examination of future auction listing's will probably show the upgrades that were achieved

Baley

I also think Fresh is a function of the type of coin, no one really cares how Fresh a bunch of MS64 Walkers or Franklins are.

But if a new draped bust quarter showed up on eBay that I haven't seen a hundred times at a too-high buy it now price?

Fresh fresh fresh!

roadrunner

FRESH means the coin wasn't shopped all around the world for the biggest whale or strongest paying dealer in the event of a flip. The next buyer likes to know there could still be meat left on the bone.

FRESH also means that for a coin that doesn't routinely trade every year or few years, it might be rather difficult to accurately price it in the current market, especially if grading has loosened since it last appeared. That means more meat on that bone for the 1st player in line to get it.

I would certainly care about a "fresh" group of MS64 walkers last graded in the 1986-1997 period. Reasonable odds of finding 65's and even 66's in that group. Nothing wrong with doubling up on $50-$200 coins....as long as there's enough of them to make it worthwhile.

Gazes

To me fresh means something when it involves a condition census coin. In such a case, if I need that coin and it's been off the market for 10 years plus---it means depending on the new owner I may have to wait another 10 years for that coin or a similar quality coin.

Baley

well Roadrunner I was speaking more as a collector trying to obtain a nice piece, than as a Processor and Flipper looking to scavenge some "meat on the bone" and wring more dollars out of the pieces as they move from the naïve seller to the retail bag-holder who bought it based upon the holder, sticker, and giant 3 degree photographs that show it in its "best light"

But I get what you're saying, and that is certainly the biggest reason fresh coins get bid up,
can't let those "downstream" have all the fun

roadrunner

@Baley said:
well Roadrunner I was speaking more as a collector trying to obtain a nice piece, than as a Processor and Flipper looking to scavenge some "meat on the bone" and wring more dollars out of the pieces as they move from the naïve seller to the retail bag-holder who bought it based upon the holder, sticker, and giant 3 degree photographs that show it in its "best light"

All well and good. As a collector you're allowed to gaze in wonderment and longing for a new purchase coming to auction. It's still the case that many of the people bidding against you will look at the coin(s) as "meat" to be skinned, processed, and parceled out in whichever way they can make money.

And I still would care about a "fresh" bunch of common MS64 Walkers to add to the "collector" pile. I still a bunch of "fresh" rattler/ogh common $20 Saints I put away 12-15 years ago. As common as they are, I can still appreciate them...and keep them from getting scavenged a little longer. There was an auction only 1-2 months ago where a large lot of "fresh" rattler MS65 common Morgans came up. They brought next grade money. Someone did care that they were probably fresh.

Wabbit2313

I move right on when I see that stupid term. It is so overused.

rhedden

Underpriced and/or undergraded coins, as well as those that just have truly superior eye appeal, seldom last more than a few hours once they are posted to a dealer's inventory or ebay. Those who seek premium quality (or else underpriced) coins for their collections know that old, stale inventory is unlikely to yield any of the above. As far as auctions go, coins that have appeared in more than one recent auction have probably been tried for an upgrade and/or CAC sticker at least once, if not several times. Coins from a "fresh" collection like the McClure collection that was sold through Heritage last year, have only been graded once, and very few of them were dipped or enhanced in any way, even if the toning was ugly. As such, they are more likely to yield a surprise upgrade or two.

None of my statements above are meant to be absolutes. There are exceptions to every rule. I am just saying that
if you want to play the odds to get a good buy on a coin, or if you just don't want your whole collection to consist of coins in "maxxed out" holders, the odds of success are higher with the truly fresh material.