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State of Coin Market
Elmhurst
Posts: 775 ✭✭✭
In discussion of Legend's FUN report on US forum, it was noted that Legend said US dreck was going for (surprisingly) strong money. i responded that Canadian dreck appears to be doing the same in recent and current auctions, and quality pieces are going for retail plus. Does anyone agree or disagree?
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Absolutely! World dreck was going for very strong money in the auctions. But that's just my opinion based on what I viewed and followed.
Perhaps the Forum will need to add a new section for Dreck, after U.S., Ancients and World Coins.
My dreck remains in a bear market .
I give away money. I collect money.
I don’t love money . I do love the Lord God.
What does US or Canadian "dreck" translate to for the rest of the world?
If you don't know, you'll be buying it.....
Wouldn't it be simpler to just say that the entire market has strengthened?
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
I should hope so...even turkeys can fly in a bull market.
Good material has gotten better, average material has gotten worse. More knowledge, better access via internet and research, allows for a more selective approach to collecting hence demand concentrates on better material.
Taler Custom Set
Ancient Custom Set
But the premise of the OP is that ugly, low-end stuff (dreck) is getting better too.
The “good” stuff has been getting better for a long time.
Economics 101; supply and demand. Does anyone think there are new collectors out there? driving prices upwards? Or are more dealers chasing stuff for inventory? I'd love to here some feedback. The common story is kids aren't into coin collecting anymore, and the hobby saw it's heyday (in the US) in the 1960's when you could still pluck silver out of circulation.
It's also January and personally my last year's bonus hit my account a few days prior to NYINC
8 Reales Madness Collection
Your dreck is quite possibly another collector's prize. That is the beauty of this hobby.
Well, I won't argue with that. I hope this whole hobby goes in an upward trajectory.
Don't know about Canadian coinage but extrapolating the question from the OP to non-US coinage generically is an overly broad generalization. There is no such thing as a "world coin market". This is a US centric view where US based collectors are the only ones who buy coins from everywhere else at meaningful prices. The "world coin market" is composed of several hundred thousand coins, thousands of series (or more) and from possibly in the vicinity of 40 to 50 countries where collecting is noticeable. Collectors elsewhere overwhelmingly also do not prefer TPG which means they equally don't consider the hair splitting quality differences represented by proximate TPG grades significant either. Because if they did, the price structure would resemble the one here in the US. The population counts indicate it is preferred in China, South Africa and maybe Canada though I suspect the latter is actually substantial buying by US collectors and not Canadians.
There is a new associate at my firm. He's just a kid, early 20's and just starting his own life. He is into coins, and I have shown him images of my coins on my iPhone. I told him about NYINC but I did not see him there. I'll chat him up when I am back in the office. He sits about 20 feet from me. I am cultivating him. Maybe I'll give him a nice circulated Walker to stir the pot.
How does one get a hater to stop hating?
I can be reached at evillageprowler@gmail.com
If you look at ANA membership as an indication, then membership has been flat to slightly down over the last 5 years that I've been a member. I don't know if the ANA is representative of the population as a whole. I think the prices in the market more or less back up the idea of a coin collecting population that is stable, but is still growing slower than the population/GDP.
IG: DeCourcyCoinsEbay: neilrobertson
"Numismatic categorizations, if left unconstrained, will increase spontaneously over time." -me
In the internet age, ANA membership isn't representative of US coin collecting, much less for anywhere else. For the collector of non-US coinage such as myself, ANA membership doesn't provide much benefit.
US collectors are the primary buyers of coinage where there is no or very limited organized collecting. They also compete for or are the primary buyers of the most expensive coinage from the countries with established traditions; example, you can definitely attribute the much higher price level for better British coins to US buyers maybe not exclusively but mostly so. However, the coins discussed on this forum are not representative of the coins bought by most foreign collectors, even those who spend what can be described as noticeable amounts of money. The "dreck" discussed on this forum is apparently acceptable to most collectors, as they don't care about minor quality differences and won't pay the premiums US buyers do. That's one reason why US collectors outbid them.
I really am not sure of the purpose of this post. Clearly there is less overall interest in coins and this has been beat to death before.
Just that some mid-range coins are doing alright and the blockbusters attract high bids does not reflect the vast bulk of the coin market.
I too try to encourage young collectors and still give away from the rolls of 2005 "Buffalo" nickels with a little story to each one....
Well, just Love coins, period.
There are absolutely many new collectors out there. They just interact with the hobby in different ways than in the past. You don't see tons of the younger collectors joining clubs or the ANA, but many are active in other venues online.
Exactly. There are certain countries which the market is generally strong for, others weak, and it is constantly changing all of the time.
Justin Meunier
Boardwalk Numismatics
Not only this, there is also no scale to collecting in most countries nor will there ever be. Measured by market value, US coins are probably worth more than all others combined in multiple. For individual countries, most are worth less than a single series from US coinage. Outside of NCLT, the scale won't ever amount to much in most countries either because the coins most collectors want to buy don't exist in any quantity, often even in mid collector quality.
I gave about 50 coins that were placed in recent Heritage auction venues this past fall including the NYINC .
I received about 70% of my expections.
Bear market or me buying full retail.
I give away money. I collect money.
I don’t love money . I do love the Lord God.
Thanks for sharing that -- it's a part of this hobby that we don't often talk about. So far I've only sold a few to folks that do a "buy from owner" on Heritage and I've gotten about 90% of my full costs back. Once I move into full retirement my job will be trying to get maximum value out of my collection -- it won't be as much fun as buying but I hope to pass these on to others that care about them.
Or “selection bias”. You only sold the coins you didn’t want to keep.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
There are countless millions of new collectors but they are hard to see. Many either aren't spending much money on coins because they are young or because they aren't yet sophisticated to know what to buy and at what price. Collections grow over time and most of these folks are young. Many of them are in other countries and US collectors will no longer dominate world coin collecting. Some of the other countries have more divergent age groups participating.
It's a great time to start collecting because everyone is really getting in on the ground floor.
So everyone, thanks for your posts!
I didn't want to hijack Elmhurst's thread. I'm in Upstate NY, and the Canadian coins have always had a very good market here at the local shows. And you could always sell Canadian tokens, no matter what condition. My kids really enjoyed the US quarters by states, so every time we (or I) went to Canada, we would ask the cashier if she wouldn't mind searching for a minute in her cash drawer for a fun Provincial quarter.
I started back into the hobby building a US type set, just when 3rd party grading was really taking off. And I hit a "budget wall" after about 2 years. I just couldn't justify spending that type of money on one coin, with kids, college savings, 401k contributions taking precedence. And the thought of $$$ between MS-65 and 66 I still find a bit ridiculous.
I tell my wife my numismatic book collection is neck and neck with my coin collection in terms of ROI. It might be.