What it Usually thought of as Fresh Material coming into the Coin Market?
Fairlaneman
Posts: 10,426 ✭✭✭✭✭
Stored away for 5 years, 10 years, 20 years, 30 years or has never been on the Market? Does Fresh Material always have to be High End Expensive Coins? Just wondering.
Thanks.
Ken
1
Comments
Recently myself, a shop dealer, and investor from coin club went partners on an estate acquisition. All the coins were PCGS OGH being put away over 15 years ago. This consisted of Walkers, Dollars, Commems, and Gold. We did an inventory, took it back to my office, priced it out on what we would pay, picked what each wanted, made lump sum offer and got it all.
What is attractive about these deals is if some coins upgrade even more profit. The guy who put this together had an eye for quality and could pick nice coins. I believe some of the pieces I got will upgrade so wb busy in Jan w submissions.
Market players looking for buy low / sell high opportunity in this flat market for deals like this that have upgrade potential plus CAC.
Fresh material does not have to be high end expensive coins as many of these can have various issues or simply have upgraded to such an extent all the money wrung out of them simply waiting find home with end user.
"Fresh" is another one of those marketing terms that is ill-defined and overused.
For me, "fresh" can mean that a fellow collector's coins are coming to market after they have enjoyed the coins for their lifetime, or part of it. Not for any certain number of years, just long enough. Only needs to be collectable
Fresh can also mean "I just cracked, dipped, and graded this coin. Get this hot potato while you can!!!"
Fresh to me would be stuff that's been off the market for a decade or two.
Ultra or Uber Fresh would be items which have never graced the internet and you need to hit paper auction catalogs to research.
Or raw coins that just got graded and put on the market.
Hoard the keys.
Fresh to me is coins I have not seen before and find attractive..... Easy enough since I am not a dealer.
Cheers, RickO
Coins that don't stink up the joint qualify for me
mark
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Married 5 times before and you thought it was her/his first.
IE....fresh material is usually what dealers call good enough stuff that has been off the market long enough where they can easily buy it from a seller and make excellent money with little effort. That's "fresh." And that's why dealers like to buy "fresh" coins since the longer they have been off the market, the harder for the seller to fully know what they might be worth. The seller in this case knew quality but they clearly didn't fully understand the value of that quality in reference to today's market...and in most cases, you wouldn't expect them to. A buyer's perfect storm. Today's price guides could be (or often are) useless for stuff put away 15-30 years ago. Legend defines fresh as being off the market for 10 years. So don't try to sneak one by them that's only 8-9 years old.
A "fresh" tub of circ wheat cents from 15 years ago won't get too many dealers excited as their total profit potential is likely not very high. But a tub full of unpicked through OGH's worth $thousands based on current price guides is a different story. I saw a dealer friend of mine get such an ogh collection about 10 years back that had been off the market for around 8-12 years. Almost every coin was a score while paying "current" bid prices. A $750 bust half was worth 2X that as the ogh grade was too conservative. If a collector brought me such a group of coins indicating they were looking to sell them I wouldn't make an offer without first advising them of the higher price potential of the material. I'd be happy to assist them (if interested) so that they can optimize the collection's value. If a B&M dealer is selling such material....it's all fair game and "seller beware."
I'm far from an expert in numismatic terminology, but would think, like in almost everything else, there is no hard and fast, black and white answer like "5 years" or something. Instead, there are "degrees" of freshness along a range, from a piece or lot no one has ever seen before, to a coin that is passed around every few months like a lot potato, and everything in between. Generally, if almost no one "remembers" seeing a coin recently because it's been off the market so long, it's fresh.
Liberty: Parent of Science & Industry
10 years would be 2006, I don't consider that "fresh" for slabbed material. 15 or 20 yes.
Estate stuff that has never been slabbed, searched for varieties, etc. would be.
And as another interesting issue is that anything fresh from an older collection will not be CAC approved because CAC was not around when they were acquired, so might not get the $ they should from a liquidation. I get the feeling more and more that coins that are not CAC approved are assumed to be, or treated as, at the low end of the assigned grade even if they are not.
Just a Tuesday thought....
K
In reading the other responses, it's obvious there's another meaning to "fresh", and that is, how much "meat is left on the bone" to make money off it by buying it at a low price, probably from someone who doesn't understand what they have and all the profit points along the way, because it's not "maxed out" by being submitted and resubmitted, stickered, expertly photographed, advertised, and of course being bought and sold several more times at ever increasing prices as it's "fame" spreads among the well informed in the coin "industry."
In this case, it doesn't matter how long it's been off the market, what matters is how naïve is the seller?
Liberty: Parent of Science & Industry
First post in a while, been super busy with work....
Stuff that has not been offered for sale for at least a few years, but sells on the first attempt. Meaning, you can have a fresh coin come to market, and priced out of the market, where it doesn't sell in an auction and then sits in dealer inventory for months, that coin is no longer fresh. The latter (e.g. does it sell when it comes to market) is far more important to me as an indicator of "fresh" than whether it has been off the market for 4 years or 10 years.
Well said mercurydimeguy.Or should I just say....I agree:)
To me Fresh Coins are what a dealer is advertising as new to their case or shop. Seems how a lot of them use the term anyway, even though they might have just bought from another dealer that has had it for sale for months.
For me, it's an obnoxious marketing term. If the coin is accurately graded, attractive and priced reasonably, then who cares how long ago it's been seen.
"Got a flaming heart, can't get my fill"
I think you nailed it Baley. FRESH = NAIVE. That's why the dealers want the "freshest" coins (ie most clueless sellers).
As hard as it is to believe, some retailers count the years since a coin has been off the market. They will not pay up for coins only off the market 5 yrs.....but will for coins 10 yrs or more. Insane....but true. In one major deal I had nixed following an agreement with a "freshness afficianado," it didn't matter than the 2 gem coins were near finest knowns, PCGS CAC, and off the market for over 5 years. The next owners were not so fussy....lol.
My SIG line works best for me.
By most measures here, the majority of my collection would be 'fresh' - with the exception of coins I have acquired in the last ten years....Cheers, RickO
Fresh = A nice coin or group of coins that has been off the market for long enough that few if any people can remember them. NICE is the key word. Most junk stays junk for forever, unless someone sees something special about it.
But, yes, I agree with those that it can be a market gimmick.
For another perspective, for the coins I collect, a "fresh" coin is one that was just dug out of the ground. Hasn't been in anyone's collection for over a thousand years!