Current Market: Buying Opportunity or Downsize/Liquidate
Cougar1978
Posts: 9,099 ✭✭✭✭✭
US Coins my number one area of interest. As I write this doing local show at new location (club show) 2 months from now. The guy planning share table with me (this eases bite of show fee) just backed out. I plan do show regardless however based on last few shows done feel online negatively impacted show sales. I want downsize slab coin inventory (mgt, storage issues) but stay bottom line investment neutral. I have a large inventory of currency.
Market parameters I track have not been in a favorable trajectory for sometime. This a non controllable and will improve on what I have done make business profitable.
Investor
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Collectors are mostly buying through the internet not at shows. Shows are mainly for dealers to either get rid of excess inventory or buy deals that are usually not available to the general collector.
I think the market is gathering a firm base and items that are not common will do well. Common items are cheapened by the many multiples of like items for sale at ever-lower prices on ebay. That will not change.
Both.
I downsized every coin that did not fit into my business model, even if it was below my cost.
I buy every coin that fits my business model.
I believe @EagleEye is correct. Talking with other collectors and a couple of internet dealers, this seems to be a very accurate market assessment at this time. I do think the internet has certainly allowed people in areas without shows or shops, the ability to access coins for their hobby. It is certainly true for my area and myself. It is my non-dealer opinion (take it for what it is worth
), that anyone seriously involved in selling coins, better get an internet presence...the future is here - now. Cheers, RickO
The market is becoming more selective. Take a hard look at your inventory and liquidate those items that are not going to appeal to a more selective group of buyers. Keep the "good stuff".
Specialization is a strategy I have always admired.
I still say, if you price it right, just about anything will sell just about anywhere. At the last few shows I have been at, dealers that have a strong 2 way market for low priced material had people standing around waiting to buy and sell because it was so busy. I then walked by dealers with cases full of slabbed coins at Cadillac prices texting on their phones with no one at the table. If you actually want to sell to collectors at shows, bring collector material at good collector prices and you will sell a ton of coins. The last time I made this argument I was told you can't make much money selling cheap coins. I disagree. I go to the same dealers to buy and sell my better stuff as well because I am comfortable and trust them.
I found this successful at recent show lately w cheap slabbed coins putting price on them minimal profit stuff like mods $20 MV had $5 in. Or certain generic MS63 / MS 64 Morgan Dollars $5 over cost. Needing slim down number of slabs. Online fees shipping will eat y lunch.
People just don’t have the money they used to for coins or else spent it online. Corporate downsizing has destroyed the quality of life for many.