A lot of advice flowing around. I can only concur that these are common coins and the economics of CAC is questionable for this type of set situation, and you may very well not add anything doing so since some might sticker and some likely won't. I get offered sets like this periodically, I can recall 3 specific times, rattlers or OGH in the last 20 months. If the price is fair then it's doable from a dealer perspective but there is only at best about 10% profit as they are so common. I bought 2 of the 3 sets and made a modest profit on them and was glad to pass on the third as the anticipated premium from the seller was ALL THE MONEY and I likely would have lost money in the deal.
If, and only if the price of the trade coin at $7K is fair would I consider the trade. The numbers on the Walker set seem fair to me on the surface (sight unseen by all of us though) and most dealers working trades fairly, expect to make a bit of money at both ends and not load the profit at one end or the other. Thus, my advice on doing the homework on the $7K coin.
Also already pointed out there have been two large hoards of these in the past couple years and while the market has absorbed them reasonably well, there are plenty out there not yet offered nor in the marketplace.
I like Walkers, a lovely coin, and popular to collect so not knocking the series at all. But the short set is VERY common.
Like any coins being offered the seller has some different options. In this case a possible trade may make sense. If the seller wants the best possible price then good pictures and a BST post or some other alternative may be worth a try. Just realize to get the best retail price for anything will take longer and will take more effort. Best of luck!
There are 8 Walker short sets, all MS65 coins, selling at this Stack's auction (closes tomorrow) Lots 7267-7274 (I haven't read the lot descriptions closely - I assume none are 100% OGH and I have no idea about CAC as I have not looked into any of them)
Here are links to two of the 8 lots - currently most are at $3010 + BP with about 24 hours left
No, my friend is not on Ebay, is not a PCGS forum member.
Thanks for all the input, and all the private messages as well. The different perspectives are interesting and informative and I sent a link to the thread, and my summary to my friend. >>
My friend is leaning toward the options of the $4k trade, or keeping the set and not buying the $7k coin.
That Ebay OGH short set, item 330892509974, hammered at $2676, 20% back of greysheet bid ($3300 bid, $3600 ask). It didn't help that the seller is relatively new and the limited feedback is mostly for buying items. Add in a poor description, poor photos, an expensive item, and no way will I touch that kind of Ebay auction any more. Greed blocks logic. There are possible fake slabs, or the possibility of stolen goods. The seller mentioned a weak strike, so it is likely they know something about coins. That adds to the confusion of why they would sell such a set in such a manner. There was no song and dance about an estate or anything else, just jumping right in and selling a relatively expensive set of coins. If not for the mention on this thread, it might well have gone for even less, because there was no mention of the grade or grading company in the description.
Walkers are just crazy! These are radioactive hot. Our biggest concern is they maybe rising too much too fast. The biggest areas of dramatic price increases are in the + Walker market. While we do buy + Walkers (ONLY if the coin is really knocking on the next grade ups door) we worry that too many people are buying weak + or average coins at too much money. Further, you can NOT have rising prices and rising populations for too long. Its an area to be VERY careful in. We just witnessed a 50C 1942 PCGS MS67+ CAC (pop 5) sell for $3,290.00 in the heritage auction. Is the coin an MS68, no. A regular high end MS67 that looks like a + can be bought for $800.00-$900.00. What are we missing? Sure an MS68 is worth $20,000.00, however with 500 MS67's out there, won't the pop of MS67+ double within a year?
The guy came with the Walker short set finally came back to the coin club. The rest of the story is that he traded the set in and got less than the $4000. I didn't get all the details. He acknowledges he overpaid for the new coin, but it is a hard to find item
Comments
If, and only if the price of the trade coin at $7K is fair would I consider the trade. The numbers on the Walker set seem fair to me on the surface (sight unseen by all of us though) and most dealers working trades fairly, expect to make a bit of money at both ends and not load the profit at one end or the other. Thus, my advice on doing the homework on the $7K coin.
Also already pointed out there have been two large hoards of these in the past couple years and while the market has absorbed them reasonably well, there are plenty out there not yet offered nor in the marketplace.
I like Walkers, a lovely coin, and popular to collect so not knocking the series at all. But the short set is VERY common.
Like any coins being offered the seller has some different options. In this case a possible trade may make sense. If the seller wants the best possible price then good pictures and a BST post or some other alternative may be worth a try. Just realize to get the best retail price for anything will take longer and will take more effort. Best of luck!
Website-Americana Rare Coin Inc
Here are links to two of the 8 lots - currently most are at $3010 + BP with about 24 hours left
Short Set MS65 #1
#2
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<< <i>Is this the set? >>
No, my friend is not on Ebay, is not a PCGS forum member.
Thanks for all the input, and all the private messages as well. The different perspectives are interesting and informative and I sent a link to the thread, and my summary to my friend. >>
My friend is leaning toward the options of the $4k trade, or keeping the set and not buying the $7k coin.
That Ebay OGH short set, item 330892509974, hammered at $2676, 20% back of greysheet bid ($3300 bid, $3600 ask). It didn't help that the seller is relatively new and the limited feedback is mostly for buying items. Add in a poor description, poor photos, an expensive item, and no way will I touch that kind of Ebay auction any more. Greed blocks logic. There are possible fake slabs, or the possibility of stolen goods. The seller mentioned a weak strike, so it is likely they know something about coins. That adds to the confusion of why they would sell such a set in such a manner. There was no song and dance about an estate or anything else, just jumping right in and selling a relatively expensive set of coins. If not for the mention on this thread, it might well have gone for even less, because there was no mention of the grade or grading company in the description.
Walkers are just crazy! These are radioactive hot. Our biggest concern is they maybe rising too much too fast. The biggest areas of dramatic price increases are in the + Walker market. While we do buy + Walkers (ONLY if the coin is really knocking on the next grade ups door) we worry that too many people are buying weak + or average coins at too much money. Further, you can NOT have rising prices and rising populations for too long. Its an area to be VERY careful in. We just witnessed a 50C 1942 PCGS MS67+ CAC (pop 5) sell for $3,290.00 in the heritage auction. Is the coin an MS68, no. A regular high end MS67 that looks like a + can be bought for $800.00-$900.00. What are we missing? Sure an MS68 is worth $20,000.00, however with 500 MS67's out there, won't the pop of MS67+ double within a year?
This hobby is one confusing pursuit!
He who knows he has enough is rich.