When is the last time you saw a highend CBH or an Early dollar on a dealer website?
TahoeDale
Posts: 1,785 ✭✭✭
For many years, I was able to buy from several dealers specializing in capped bust halves, quarters and dimes, and
early dollars. Some came direct to me, others were on their sites for sale to the public.
Only infrequently do I have that opportunity today. I am trying to remember what coins and when----
In the last 4 years, 3 from Harry Laibstain--1807 Bearded Goddess, 1828 curl 2 with knob, and 1800 America low 8 dollar.
One from David Hall rare coins--1814 half in PC66.
One from Warren Mills- 1826 half in 66.
One from Eye-appealing coins--Proof Judd CBH.
All the rest have come from being the successful bidder in a major auction. Do collectors out number dealers
at auctions?
Then, the time period from 2003 to 2007-- I am guessing 80% came from dealers direct, and from noticing them on their websites.
And lastly, from 1995 to 2001--close to 100% from dealers.
What are the reasons for so few coins in places where they used to be? A recent Doug Winter blog touched on this, and as usual, well described.
If there are no new coins in dealer cases, on the bourse, or on their websites, it has to be the major auction companies that are selling all the nice coins.
And all the others are in tight collector hands.
early dollars. Some came direct to me, others were on their sites for sale to the public.
Only infrequently do I have that opportunity today. I am trying to remember what coins and when----
In the last 4 years, 3 from Harry Laibstain--1807 Bearded Goddess, 1828 curl 2 with knob, and 1800 America low 8 dollar.
One from David Hall rare coins--1814 half in PC66.
One from Warren Mills- 1826 half in 66.
One from Eye-appealing coins--Proof Judd CBH.
All the rest have come from being the successful bidder in a major auction. Do collectors out number dealers
at auctions?
Then, the time period from 2003 to 2007-- I am guessing 80% came from dealers direct, and from noticing them on their websites.
And lastly, from 1995 to 2001--close to 100% from dealers.
What are the reasons for so few coins in places where they used to be? A recent Doug Winter blog touched on this, and as usual, well described.
If there are no new coins in dealer cases, on the bourse, or on their websites, it has to be the major auction companies that are selling all the nice coins.
And all the others are in tight collector hands.
TahoeDale
0
Comments
I think your right about this......
I read Doug's article too.....it seems more competitive, even among dealers, for fresh rare coins.
Good for you if you have the relationships which I'm sure you do......
I give away money. I collect money.
I don’t love money . I do love the Lord God.
Bottom line is that the really cool early stuff disappears off the market - be it auction, dealer or collector to collector.
and were looking to flip them. Very rarely did anything come by the way of dealer inventory purchased from private collections. I can't even think of one great coin I bought in
the 1980's that didn't come from a major auction. I haven't given this a whole lot of thought since. But, I think it still basically held true for the past 17 yrs (since Pittman and Eliasberg
got the ball rolling again). Most people realize that if you want top dollar for something that's really top notch and hard to come by, it's probably going to be sold via the auction
route...assuming someone doesn't come along and offer you a price you just can't refuse.
<< <i>Most people realize that if you want top dollar for something that's really top notch and hard to come by, it's probably going to be sold via the auction route...assuming someone doesn't come along and offer you a price you just can't refuse. >>
I agree, and 'most people' includes dealers smart enough to know that the profit maximizing strategy is often to consign coins to auction.
Coin Rarities Online
I bought this one from Harry Laibstain a few months ago. It is a Bolender-17 or BB-101 ("5 stripes"), grades EF-40 and was the plate coin in Dave Bowers' first book on early dollars.
To me an AU graded Bust dollar that has been dipped white with an unnatural look is not "high end."
I don't do much with Bust half dollars so I can't comment on those.
I've been somewhat paying attention to this game since 1985ish. I used to love to walk the floor and you would see some awesome stuff in dealer cases. Lots of it. I never really participated in auctions so much back then. But the auctions had great stuff as well. What I've noticed, and its quite clear is:
1)Auctions still have a lot of, if not more great coins
2)Dealer cases at shows aint what it used to be.
Now, TDN points out that a great number of coins sold thru dealers are done in a private manner, so we never see those.......but I want to be very clear about this......the dealers cases at major shows ain't what it used to be. Way off. Versus there is still spectacular stuff at auctions.
I gotta believe in most cases, if a dealer has a cool coin in stock (and it isn't sold) then they would place it in their case, right?
I spent almost two full days at the recent CSNS show. Normally I would spend the majority of my time walking the bourse and barely viewing the auction lots. The Heritage sales were so big and impressive, I probably spent 75% of my time viewing auction lots. How could I not? The Newman stuff, the run of Gem Proof Seated, the Morgans, the great early large cents, the old school rare coins. The paper money was off the charts. Lots of gem stuff, Bisons, #1 serial Bison, 67 this, 67 that, 3 notes sold for over 1mm, the bourse probably had 1% of what the paper money auction had. Its like my own personal visit to a museum....its awesome.
I doubt an equal value of 10% of the auction was on the floor (including privately sold coins).
Also, for an advanced collector like you, Dale, your experience has made it more difficult for you to have success. Go back 20 to 30 years ago. Lets say you were to place in front of you 10 GEM Bust Halves in front of you. Maybe they were graded by PCGS, Bowers, Stacks. Nonetheless, they are described as GEM. Odds are most were nice, and true Gems. Original. Wholesome. Maybe you'd pick 8, or 6 or maybe just 3 or 4. Fast forward to today. Place a random 10 graded MS65 Bust Halves in front of you. Most are junk, maybe dipped, etc. I would bet that there would only be 1 or two that are nice. Therefore your success ratio it maybe 20% at best, maybe 8 years ago it was 35%, 15 years ago, 45%.
Just my two cents.
Seth
Empty Nest Collection