Strange... seeing more and more on BST,listings with price reduced ,,Is coin business getting worse?
bestday
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Noticed last several weeks on BST, more listings are showing price reduced ....more than seen before .Is coin business slowing down even more ?
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We have a lot of statistics showing the coin market is stronger today compared to six months ago.
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See this thread: This market is not so great.
It would seem so. PCGS3000 recently went below 60k. The 3 year chart is alarming to me. Iwog's blast white OST brought 1550 and I'm following two toned ASE's on ebay that are currently at 1k and 1.5k, so it's not completely dead.
How low would those 2 ASE's get before you bought them? The market is starting to look more bifurcated to me - most things dropping except for the top end.
With a couple of recent threads relaying "less than good" experiences on the BST, I wonder if any down turn there is more a reflection of concerns about the forum, rather than a poor market?
(Not a BST user, so only posing the possibility....)
The quality of the BST offerings seems substantially lower over the last year in my opinion.
Partner @Gold Hill Coin
Either what you mentioned or sellers are asking for full retail prices for common or unspectacular items.
The B in BST doesn't stand for " bargain " , it stands for " Bend over" most of the time. Prices coming down is good,
moon bids?
agree. I can't part with my 1883 No Cents but for more than auction site sales. I just can't. Count me in the ridiculous crowd on that one.
Many of the sellers set a unrealistic high retail number. These items sit and sit most of the time.
The stuff that moves is priced at a reasonable level often under ebay and under PCGS price-list.
I buy a lot on the BST and some sellers get it and they move there coins a few sell them in a day or two without trying to get the last cent out of the sell price. I can always pay full retail a lot of places but wont often do that on the BST.
Super high retail on Ebay with 13% or 15% fees is one thing. its free to sell on the BST so pricing it higher than ebay and demanding paypal gift only is ridiculous. Lets see strip all my buyer protection away , and then ask me to pay more ? I'm on the fence about that , maybe if the seller could promise to wait 2 months to ship also then I could get behind it.
I agree with Ian,
For what I am seeing , things are actually doing better, quite a bit of uptick since late last year. I honestly think its more that several of the folks on the BST have an unrealistic value of the stuff thier selling, to support this, if you notice, the ones that put nice coins on, and price at current levels, gets sold fairly quickly.
Dave, I wouldn't purchase either of those ASE's as I feel they are both AT. They are in PCGS holders and Trueviewed which legitimizes them. Looking at the bidding action, two individuals really want those coins.
We sold a ton of coins in Orlando without even being there. If coins are priced realistically at current prevailing levels, they aren't hard to sell.
BST isn't always the best gauge of the numismatic marketplace.
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It's the usual story, those with a lot of money are looking for the best coins, bargain hunters are always looking for a deal. Flippers are willing to buy underpriced material. If sellers have quality photography, a good track record, reasonably priced material they should do well. As long as there are people with money they will be looking for quality numismatics.
So basically coins only move if wholesaled or sold under value... No wonder BST listing quality has dropped. Unless desperate, what collector is going to wholesale nice PQ coins?
"Wholesale" isn't always a specific number or a specific price. To a dealer, "wholesale" on a nice PQ coin may be more than some people think retail would be.
I've seen dealers buy coins "wholesale" for prices that most collectors would think is nuts.
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Are these the coins in question?
82974142 is at $1,625.00 and 81783221 is at $1,075.00.
I have purchased from the BST frequently... however, I will say that things tend to be priced at a higher level than they should be... likely reflective of ebay auction prices.... I watch for reasonable prices on items that attract me..... prices above what is realistic just allow me to move on. Cheers, RickO
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Toning haters definitely would say they are in question. I believe they are market acceptable. Every time, when you see eye catching pinkish red toning, price usually goes sky high. 81783221 is a good example.
I think they are cool looking and would like to know more about them.
If they are NT, I would assume we'd all know how to make them now, like bag toning, tab toning, album toning, etc. The funny thing is that there seems to be an increasing number of ASE toners but no increasing amount of information on in what situations this happens. I'd love to see mine tone with very vivid colors. The lack of information on how rainbow ASE toning occurs seems strange to me.
I would particularly be interested in reading a credible explanation for how the toning on the 1989 ASE came about.
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
No doubt some items 0n BST are priced higher than on Ebay ,
This sounds very reasonable having aligned with the stock market rally since Nov 8th. The only question is what will happen to that coin market liquidity flow if the stock market decides to take a nice dip or breather soon? 8 years now to SM all time highs.
82974142 closed at $2,260 this evening.
81783221 closed at $1,482 this evening.
There were more than two bidders chasing these coins.
I would as well, as I have never seen one in the raw outside of a PCGS holder. I can say they are coming to the market more frequently in the last 6 months.
The '89 ASE went for absurd money. Its toning is nothing special. Whomever bought it for $2260 is completely off their rocker.
The '95 ASE, however, is truly spectacularly toned and special, and while $1482 is A TON for any wildly toned ASE, at least that example's price can be comprehended.
While the '95 PCGS 81783221 at $1482 is more pleasing, it is also a toning pattern that is more common.
The '89 PCGS 82974142 at $2,260 has a very unusual toning pattern. It almost reminds of camouflage.
I would love to learn how both of these toned coins can be achieved in a ANA Summer Seminar class.
I agree.
The 1989 reminds me of a high school chemistry project.
Still would be interesting to create. I wonder what chemicals could be used.
I have a hypothesis, and here is an experimental set-up to play around with if you care to do so:
I think you can produce toning like this using sodium hydroxide (NaOH), sulfur (S), water, copper wire, and a 3V battery to anodize the silver. Thoroughly mix the NaOH, S, and H2O for several minutes to produce a homogeneous solution. The solution should be yellow/orangish. You may need to filter out any excess reagent and heat the resulting solution. Attach two copper insulated wires to the battery. Attach the positive terminal to the coin and dip the negative wire into the solution and move it around to coat the coin. The electric current being passed through the wire is oxidizing the silver and causing it to pick up the sulfur in the solution. The coloration varies depending on the thickness of the toning, which is directly proportional to the amount of time you anodize it. Playing around with this, I'm sure you can make all sorts of colors and patterns.
The reason why I think this may have been produced by a similar method is that the toning is streaky and there are breaks almost as if someone did a sloppy job of making multiple passes with a wire/current.
Just my 2c.
Those wildly chasing ,bidding up exotic condition coins like toners, in for a rude surprise in a market downturn
Ironically, it is and has been one of the strongest segments of the most recent market downturn (2008 to present).
I believe the toning market is more similar to the art market than other types of coins because many toners have unique looks. This is unlike white condition rarities where many coins can look very similar.
Yup, there are a few dreamers on BST. When I post coins FS I'd try to stay near CDN bid or a bit under. I don't have the balls to ask 10% over CDN bid.
What type of coins do you sell? Maybe I should look for your future BST posts.
Anything from V nickels to $20 gold pieces. No modern coins.
hint the within 10% of bid listings are the ones that say SOLD in the title and/or the ones the OP doesn't have to bump over and over.
I have heard the same thing...it's a buyers market right now...It really depends on what the coin is.
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It's a buyers market
And baby, I'm buyin
Those patterns are obtained when the coin is dropped and forgotten about next to a base board that was glued to the concrete. Somehow it was turned over though not discovered for many months. When located, finally, those cool toning patterns and colors arise. Natural and undisturbed. That is key.
Same here..... Loving it.
Hoard the keys.
IMO, it's ok to bump your listing up, but if your prices aren't within the ballpark, then why bother?
I think many BST sellers price their coins at full retail or slightly higher in the hopes that someone makes a counter offer that's reasonable rather than low-ball.
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"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Because some suc ah, collector is going to make an offer for a stratosphere price...
Reading a lot of replies, and my experience on the BST and I've used it quite a bit through the years. Not much since I've sold most of what I have. And I rarely lower my price, and those that know me I don't care for the negotiation game. Usually you want it or not.
Oh yes I do indeed sell a lot of nice coins through the years. If I don't sell here real quick II pull it and sell to a dealer much easier. Or dealers I know. So If you are looking for sheet prices please feel free to move on, and save your offer as well.
my sense is that right now it's a buyers market overall, even at the BST.
I meant to mention sometimes l offer to lower price. But for the very genourous offers I get through the years.... pass.