are the times of the big sales over ?
privaterarecoincollector
Posts: 629 ✭✭✭✭✭
I am quite unimpressed by all the auction sales, especially after Pogue, Newman, Tettenhorst and a few others we saw the last 10 years. Are the times of the big sales over for now ?
Additional Hansen seems to pick up everything that is great and still left from these sales, which is great for the market.
So while there still seems to be some demand, there seems to be no supply anymore.
I remember that in 1999 and 2000 the market was still very soft from the Eliasberg and Bass sales, this seems not to be the case today. Everything that sold the last 5 years seems now to be off the market - even the Brasher Doubloon that was around for a long time.
I wonder what we will see next for sale being a great and big collection ?
The remaining Bass collection after 2020 ?
Or the remaining coins of the Patrick collection ? I heard there is the Brasher Doubloon in MS 64 ex Garrett.
Any other thoughts on your end ?
Comments
I have found that I have had a lot of problems locating the pieces I needed for a Classic Head Gold set, which not viewed to contain any great rarities. Oddly enough some of the Philadelphia Mint coins were harder to find that the Charlotte and Dahlonega pieces. I've had an 1838-C quarter eagle for many years, but my searches on the Internet revealed that I could have bought that coin many times over for a price. The others ... not so much.
Pogue and Newman didn't do me much good. The prices in those auctions were consistently strong and too much for a second tier collector like me. Yes, although I might seem like a whale to some of you, I'm really just an “adult dolphin.”
I think that a lot of good coins that are attractive and properly grading are going off the market for a long time. I have some of them, but I’m getting older. The collector bugs bite me and holds on, but time is catching up with me. So almost all of my current collection will be off the market, but not forever.
... and a LOL for the "adult dolphin" reference.
I think the market has been spoiled with the amount of high quality material that has hit the market recently. Thus, we now are accustomed to seeing the biggest and best ever year or so. To me, once we accept that the recent action situation with Newman, Pogue, Gardner, etc was just a unique situation and the end of a collecting cycle, we'll have to just wait for the next cycle in a few decades. But the dispersion of the rest of the Patrick collection is something I look forward to seeing.
Andrew Blinkiewicz-Heritage
I will be selling someday, certainly can't take it with you.
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
What Ablinky said is 100% right.
Also, there are new collectors out there today who make Gardner, Newman, and even Pogue look small. They will be names when their cycles are over. There are many behind the scenes big deals taking place these days. There are still many families with huge old time holdings that may not surface for 100 years.
The good but bad news about all this, good coins really are in strong hands now.
Seems collectors look towards the rarely offered coins as a bellwether for the entire coin market instead of what is quality within the mainstream that is rarely seen but more affordable.
Experience the World through Numismatics...it's more than you can imagine.
I see several items that affect the Neumismatic auction world.
1. The mint is making near perfect coins in volume. Why buy mint sets and proof sets when we can get MS 67/68 coins from everyday production. Also this production perfection limits the number of errors getting out.
2. The greatest majority of buyers today are Investors who want to load up their porfolio's and they are keeping them because it makes their " NET WORTH " look good and/or profit oriented consumers whose only goal is " Making a Buck" and they are cash heavy.
3. Old farts like us who go GAGA over a beatup old 1914D penny are slowly but surely fading into the sunset and these kids who are entering the field today don't have a clue about history, all they want is Bright and Shiny , and prefer a fake that looks good just so they can say they have one, over the real thing and it didn't cost them an arm or leg.
4. The Auction Houses are charging way too much Vig. so us average guys just aren't spending because we grew up thinking a dollar for a dollar value not a dollar for 80% value and no matter what we voice by golly we just ain't agonna do it.
So in closing my rants, I quit buying from auction houses because in my opinion, Its just not worth the extra cost, because I have purchased some very, very good coins right here in this forum for a lot less than ebay or Stacks and as a result have been able to buy a lot more with a higher degree of confidence.
Bob Sr CEO Fieldtechs
older coins with good eye appeal seem to hold their value. modern coins from the mint is a danger zone
There are many collections out there in old hands.... some are great, many are not.... I have no doubt there are superb coins in collections that have no 'name' attached..... just have to wait and see....Cheers, RickO
Big sales seem to happen when people exit collecting. I’ve also seen people sell parts of their collection instead of the entire collection which has a different effect.
everything runs in cycles but it may be awhile before we see these big time sales again. I know the coins I am looking for are harder than ever to find and when they do appear at auction I am more than surprised at the new level of prices these coins are going for.
would love to see an old time collection of ungraded coins with the coins being freshly graded. Really hope we will see Bass in 2020 / 2021 for sale.
The extreme concentration of wealth in the US has probably created a new breed of trophy hunters. However, these new trophy hunters are likely to be very secretive and are probably building their collections while working with just one major dealer (who has been told in no uncertain terms that the building of the collection is to be revealed to no one.)
In a few years they will lose interest in coins and move on to something else. At that time you will see more major auctions.