In this buyers market how do u move your coins?
Cougar1978
Posts: 8,151 ✭✭✭✭✭
Auction blowout, let her rip or shows / online store bid plus 10 percent, cost plus $5?
Coins & Currency
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Cougar1978
Posts: 8,151 ✭✭✭✭✭
Cougar1978
Posts: 8,151 ✭✭✭✭✭
Comments
If you have good material, auctions probably the best way to go now. If you have only "stuff" you are probably going to get hammered, not mater what you do.
I was going through a classic car dealership a couple of days ago. The most exciting car on the floor was a 1937 Cord followed by a 1958 Red Cadillac convertable. Both cars were "mint" (fully restored) and absolutely beautiful. The owner told me that that that those are types of cars that are selling these days. The off quality cars are harder to move. We a seeing the same thing in the coin market.
If you are realistic and sell at current market levels (which are down) the coin market is still active. If you want yesterday's prices you are likely to have a good chance to watch your coins tone.
By selling unique coins that no one else has.
Bill, ErrorOnCoins,
True, good material sells well, but what it took to buy "good material" or "unique coins" in years prior was so expensive, that selling now, will still most likely result in some percentage loss. "stuff" was cheaper to buy back then and won't sell as well today, but it didn't cost as much to get it in the first place.
My guess is that the costs to buy and then restore to mint condition the 1937 Cord and 1588 Cadillac will still result in a loss for the owners when they sell.
When I started collecting I had an "exit strategy"; Ebay. I knew I could buy any coin on Ebay (most were auction style back then) and with a few hours work I could put together an auction and within about a week I could recoup my money. In the beginning, Ebay auctions were strong and the juice to Ebay very small. Now, Ebay still works, but the lackluster bidding and high fees make that a losing proposition every time.
Without a solid exit strategy it doesn not make sense to funnel money into coins. It is fun buying, but it is so very painful when selling.
P.S. I am hoping that Great Collections matures to where they get really quality coins, lots of eyeballs and keep relatively low auction fees.
That is quite true. The price tags on both cars were well over $100,000. The highest price in the room was on a 1965 Mercedes that was originally owned by John Lennon. It had a $295,000 price tag on it. It also had an 8 Track player in the dash board.
Pretty much this. There’s a remarkable amount of money always available to buy anything with even a touch of meat left on the bone.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
A coin sold yesterday in an hour and a half after being posted.
It was a nice coin for the grade, good pictures, detailed but not hyperbolic description, priced fairly, and with clear sales terms.
Seller was polite and responsive, and has likely earned a good repeat customer for similar items.
Liberty: Parent of Science & Industry
It is a buyers market, so I'm buying! I didn't get in this hobby (or any of my hobbies for that matter) to get rich or even with a plan to make money. I'm a collector. (dealers dream about me) I enjoy my coins, cars and guns. "If" the day comes that I start selling, I'd hope to make some money but I don't expect it.
Send them to Ian at Great Collections. Fees the same as Ebay but his competent crew does all of the work.
A bunch of coin dealers are gonna hand over their numbers.
In the coin market? usually the meat is all off the bone and the marrow sucked out.
Where is the buyers market manifesting itself? Where can I get the cheap coins?
What I see, and I dont cruise all the auction sites or go anywhere, so I have a limited perspective which is prettty much limited to the occasional ebay views each day, IS stubburn sellers not willing to move their prices down while having coins listed for months and years. I do however see unusually strong prices for toned peace dollars at certain auction houses. Run of the mill color fetching 5k for common dates. Which is both good and bad I guess.
But what exactly is cheap? Can I get MS 64 1921 peace dollars for $400 somewhere? I see the same prices I have for the past 10 years. Are you guys calling it a buyers market when the prices dont steadily climb?
I sold 3k in one transaction at a show in 5 min (10 coins) because they were priced fairly and the buyer knew that. All were upper end widgets, or in my book, nice coins.
At some point market will turnaround it may be due to an influx of investors seeing an opportunity.
Look at Auction Comps over the last five years. The most commonly traded coins in most series have drifted downward in prices. If you buy out of auction, you will pay less for coins such as 09S VDB's, 1885/1886 5c's, 1879CC $1's, and many other key and semi key dates, as well generic to slightly better date gold in virtually all grades.
I've been able to pick up some nice type gold lately at these lower prices. I love it as a buyer, but it would kill me to have to sell at these levels!
My YouTube Channel
I wish that it worked like that for varieties...these move pretty slow. I post 'em and wait it out for the next Dallas Show...which seems to do very well for varieties.
BST transactions: dbldie55, jayPem, 78saen, UltraHighRelief, nibanny, liefgold, FallGuy, lkeigwin, mbogoman, Sandman70gt, keets, joeykoins, ianrussell (@GC), EagleEye, ThePennyLady, GRANDAM, Ilikecolor, Gluggo, okiedude, Voyageur, LJenkins11, fastfreddie, ms70, pursuitofliberty, ZoidMeister,Coin Finder, GotTheBug, edwardjulio, Coinnmore...
Beware of "investors" seeking quick profits. The end result usually isn't pretty.
That is the problem with "varieties" as they are just that, many coins to search for in each variety.
Most of my coins are one of a kind.
If you pick the right auction you can still do OK. If you negotiate with the Auctioneer you can get a discount or even bypass sellers premiums when they have both buyers and sellers premiums. You can even set a limit. Say no sellers premiums on coins selling above $250.
There are options.
Ebay's still the best venue, IMHO. Widest possible audience.
I just auction them with .$99 starts. Occasional rips, but by and large I've experienced Ebay as the best gauge of the market for coins these days (for stuff that's sub Legend/Heritage levels, anyway).
Here's a warning parable for coin collectors...
In my experience the best way to make money is to buy at the right price and then take your profit. Seems hard to be a collector and make money, at least consistently and over look periods of time unless you’re Newman, Pittman, Pogue, etc. Naturally, you should also do you research as far as choosing the best possible venues and channels for the material.
I’m sure some will disagree. That’s just what I found has worked.
Dealing in Canadian and American coins and historical medals.
I don't have much to move as yet so I am more as a buyer
That's excellent advice for dealers!!
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
My online store (eBay) has performed better than shows set up at recently but has its peaks and valleys. I suspect when bay offers 10 pct bucks or gift coupons this can help. I recently used 15 pct one day only coupon on nice coin recently. What’s nuts it could only be used on just one item. I would have bought more....was surprised tried use it again on another item and said I already used coupon.
I **move **them from my SDB to home.....then back to the SDB.
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb
Bad transactions with : nobody to date
If you are realistic and sell at current market levels (which are down) the coin market is still active. If you want yesterday's prices you are likely to have a good chance to watch your coins tone.
Go to Ebay - this is 99.8 percent of the coins offered there. In fact, many sellers are asking prices that are much higher from yesterday.
By way of the post office, as usual. Sometimes with signature confirmation and insurance.
I'm buying, grading and CACing....... Positioning for the next wave of buyers looking for quality stuff. I don't need to sell right now as I saw this coming 3 years ago.... This is not an arrogant statement, I always talk to as many active dealers as I can whenever I can. They tell me where the market is in sometimes crude but unvarnished terms..... I like GreatCollections biz model, but so far, I have not done very well there, so I stopped. But, I like the direction its going..
I get a rip now and again on Ebay or GreatCollections, but feel very ambivalent about it. It supports the notion of a coin market that is dwindling..
CRO seems to go well in this market. Every time I get his emails and I click on a coin I like, it's already on hold!
I "moved" most of what I didn't want starting about a year and a half to 2 years ago when I started getting more than mere whiffs of what was and is happening.
Bought a few things but they have to be VERY compelling now.
Just got paid (teensy profit) on an ancient gold stater after recently learning that NGC does not guarantee authenticity on ancients.
I barely got into ancients but will not add more.
I'm quite sure that we now have to be VERY selective and brutally honest with ourselves now in all numismatic decisions if any real money is involved.
From home to the safety deposit box 🙂
I move my coins from my safe to my viewing area, and back....and from my coin cabinet to my viewing area and back....
Do not even have to go outside.... 
Cheers, RickO
100% the truth when it comes to the parts, labor and effort in restoring classic cars. There simply must be some exceptions to the rule, it's profitable for restoration shops to work on such cars, but usually not for owners. How many times have I seen "$75K-100K restoration all-in costs on this gorgeous musclecar -- drive it away for $49,995" -- etc.
Someone more well-versed in the used car/classic car biz could probably set me straight. roadrunner would have opinions.
Two other things I know about classic cars -- "four slams? No clams" and, "a #3 will set you free".
Cost and space of collecting real cars are why I enjoy sticking with the 1/25 scale versions of them!
Quite agree, and I find myself more in line with Cougar1978's opinions on keeping numismatic stuff to "small potatoes" things at $300 and under (which frankly is probably 99% of my stuff anyway) and anything more expensive is bullion-based at the core of its value. It's quite all right by me as I enjoy collecting NCLT and find some of the designs (certainly not all) quite nice.
I wonder if this price trend will hold true for something I'd like to buy in 5 years or so. a '16-D dime, nothing special, just a "good" but it can't be a scrubbed, or even "market-acceptable" (but still it's wiped/cleaned) coin. Gotta be dirty gray and 100% original. According to conventional wisdom, this coin is just shy of as common as an S-VDB, and should be plummeting in price -- but those I've seen available, and I'm not interesting in a "doggy" good, seem stubbornly above $750-$1K or more. Would be interested to know the board's thoughts on what a good '16-D should run me, 5-10 years from now? I wonder, will we get back to the days of a "good" example being under $500? If so, I sure don't need to rush out and get one anytime soon! Thanks for all opinions.
It's just looking at things from a dealer's perspective, vs. a collector's, I think.
Not sure it will work for you next time, but try and add multiple items to your ebay cart, check out, and at that time try and apply the coupon offer etc. to the cart contents.
One slight difference is that “fully restored” can mean doctored, not mint in the coin world.
That being said, there's certainly a flight to quality.
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I have been to many car museums and car shows, and when it comes to cars from the '50s and earlier, among the attractive high grade cars that I have seen,I think that I could count on one hand the number of examples that had not been at least re-painted. More than a few cars have souped up engines and gear shifts in them that were never factory equipment when they were new. Those cars have been "whizzed" so far I'm concerned, and I would not want them. Original equipment is the way to go in my opinion.
when it takes selling 5,000 in coins to make 100 dollars profit after fees, you could make money on coins in the 90's and part of the 2000's, now you might make 1 dollar per hour if you know what to buy
If you're considering eBay as your sales venue and are serious about selling, adjust the damn price every 2 weeks.
Or....list them auction style and realize that the bidder will gladly show you what it's "worth."
It's not a buyer's market without it being a seller's market , too.
It's that easy.
Buy low, sell lower. That's right... right?
Appreciate the thoughts! Ultimately, when I get a worn '16-D that's "just right", it'll cost what it costs. I certainly don't want to overpay vs. whatever the market is at the time, but neither am I looking at price point only, to settle for a drecky one.
There is a difference between a restored car that's been restored as if it were "new" off the showroom floor, but having reproduction hoses, newly-made tires in an appropriate vintage size and appearance, replaced brake lines, etc. -- those things are expected and appropriate for safety and help preserve value. The example Bill gives of old cars with different engines than what they came with, modified stance, etc. can be appealing, but not the same appeal as "restored as if to day 1" status that I too would prefer. There are exceptions to the rule, such as hot rods or even famous customs, but typically those are very hard to value -- they turn into highly personal cars, and the original owner's idea of what made their custom car great might vary widely from potential buyers' opinions.
The market continues with its pluses and minus. Morgan Dollars continue decline.
I have noticed strong interest in generic, collectible gold coins close to BV. Should gold rally many may look back and regret not buying.