Would you want to be selling numismatic coins into this economic environment?
291fifth
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In another thread one poster stated that a rep for of major auction house said buyers were still very active. I wouldn't be surprised if that is true but wonder how long it will stay true if things don't start turning around fairly quickly. Are you willing to put important numismatic items (not bullion) up for sale at this time?
All glory is fleeting.
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I guess it depends on what’s considered important. Myself, I may sell a few items in the next few weeks. Civil war gold, early gold. But they aren’t super rare or high priced.
In my opinion, high value coins will be more likely to continue to find their market similar to what is was pre-Covid. Buyers for those items are less affected by this situation than John Q. Public.
The $1,000 or less coins, or especially the $500 or less coins could very well suffer lower prices. Many customers for those coins are feeling a lot of pain and have to have taken a big hit to their discretionary spending.
As a buyer of sub $500 coins, exclusively, I can tell you that judging by my latest purchases and their prices I’m either a pretty savvy buyer or it’s a buyers market, in my humble opinion.
"Today the crumbs, tomorrow the
loaf. Perhaps someday the whole damn boulangerie." - fictional Jack Rackham
In my opinion, high value coins will be more likely to continue to find their market similar to what is was pre-Covid. Buyers for those items are less affected by this situation than John Q. Public.
Absolutely - the high-end market will do fine. The swill and the generics, well, that's another story. If you have good stuff to sell, there will be no problem. If you have just "stuff" to sell, you will likely have a problem.
Member ANA, SPMC, SCNA, FUN, CONECA
I would have been first to say "there is no way I would sell into the current environment" But Ill tell you, I have seen nothing but strong prices for stuff. What little inventory I had left from the shop, kicked "a" on ebay. Wish I would have saved some inventory to sell now. Unfortunately I am out of stuff, and very little is coming in the door, just the past day or so, had a piece or two float in, I ran a couple of my personal collection coins over the past week, just to see how they would do and they did well also. Trimming down a few pieces I could stand to get rid of. Honestly thinking about selling some more even though I don't want to or need too.
I also bid on a couple of coins in the past auction for a customer of mine, and they went strong, so strong even he bailed out and didn't win them.
Only thing I can think is creating this, is that there are so many shops closed, shows cancelled, and people are having to buy off line momentarily. I do agree with above, that if this drags on, it could begin to show a softening in some areas as peoples discretionary funds dry up.
“Desperate Times Call for Desperate Measures”...some folks are running out of options to keep their heads above water.
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No, I wouldn’t want to send coins to an auction house right now. Too risky IMO.
From what we saw at Stack's rare pieces can still go for strong money.
Prices for upcoming lots at Heritage seem pretty strong too.
I did notice some, but not most, pieces at Heritage have been pushed to December now.
At the moment, things seem strong enough. I wouldn't hesitate to consign to a sale being held in the next couple of months, but I wouldn’t consign to a sale six months in advance.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Dealers are having big time supply issues. It's not the worst time to sell.
Not a good time to be selling anything that is common. I haven't sold anything lately but have been watching for anything rare/popular but have come up empty on the buy side. So I conclude the "good stuff" is in strong hands.
I've been selling quite a few coins - dealers need inventory and w/o shows, stores closed, etc, where else are they going to find them than online??
The market in general is stronger than it was 3 months ago...I'm seeing new money coming out of the stock market into hard assets. I agree with Andy that in the short term it should be fine. 6 months from now....who knows?
Yes, I am taking advantage of the time that I have available and am selling a few coins on ebay. Re-organizing my collections and selling off a few duplicates and other things that I'm just not feeling the love for, if you know what I mean.
My theory is people are stuck at home and are bored. The last month or 2 has been the strongest for me on ebay in awhile. It could also be more exposure...with ebay giving basically free listing for all you can list. I rotate my listings and usually have around 1500 listings...average amount of listings now is 3300.
If you are selling you coins at Heritage, it does not to seem to make any difference. That seems to be endorsement for them, but what will you do with what you have bought?
If you are selling you coins at Heritage, it does not to seem to make any difference. That seems to be an endorsement for them, but what will you do with what you have bought?
I've been watching some auctions and prices realized are right about where I would expect. This is for $1,000 to $5,000 coins. Maybe this is the mid-range between high end coins being "strong" and low end coins being "weak". I wouldn't hesitate to sell now.
LIBERTY SEATED DIMES WITH MAJOR VARIETIES CIRCULATION STRIKES (1837-1891) digital album
I'd rather be selling than buying.
From what I have seen on forums etc., dealers seem to be running low on inventory, buyers are paying good prices for coins in general, high prices for premium material...and PM's are quite strong, especially silver. Interesting times...Cheers, RickO
for my own part, I had been considering selling at auction for the past year at least and earlier this year I finally got everything organized and made a decision to sell. my small group of SC$'s is at Stack's right now, they should be in the Baltimore auction in mid-June. my selling process is simple: while I certainly prefer to get the highest return possible, once I make the decision to sell I divorce myself from the stuff I'm selling.
to that end, I don't think the important thing in selling is the when or where or who of it. the most important thing is in the way we each collect and how carefully we try to buy wisely. if we have done that the stuff we're selling will take care of itself and we should do OK.
I'm buying in the $200-$1,000 range and most prices seem strong, I'm mostly looking at copper and bust halves. The only thing that seems weak is problem coins, details, etc. There seem to be more collectors who won't touch that stuff, but it's not all going crazy cheap either.
I have been trying to find deals on patriotic cwt’s, and I am not winning anything. Prices seem strong. Talking $50-$200 type coins. Actually thinking of selling some of mine.
If you are thinking of selling, it's better to start well in advance of when you think you will want to use the proceeds. Your financial reserve (cash) may play a role in whether you try to sell now or wait.
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
This is a peculiar circumstance vis a vis this virus. People act in paradoxical fashion, sometimes doing things and acting in ways that don't always make since.
I, for one, am buying less although did stretch a bit last month for a big ticket item. Definitely slower, and less enthusiam for bidding at auction until I see which way things are going....
Well, just Love coins, period.
High flyers that have a significant following would likely do okay. I would not be a seller of rare numismatic items that have less of a following. There are just too many uncertainties. Seeing the Futures for May oil move into negative territory seems to exemplify the impossible that has become the sad reality.
Experience the World through Numismatics...it's more than you can imagine.
I'm screwed..
If you try to sell a coin on the BST, you get to name your price. If no one buys it, you haven't lost anything because it's FREE!!!
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
If I were to consign a coin GC makes the most sense IMHO. I can send them a coin today, two weeks later it’s being auctioned, and two weeks from auction date I have a check.
That assumes that you shipment to them arrives quickly, an assumption that may not be true today.
However, to paraphrase Laura Sperber, an unsold coin would no longer be fresh. Whatever that means (dogmeat?).
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
I have to wonder whether we are now seeing a sort of "dead cat bounce" in the numismatic coin market. Strong sales in the face of dire economic circumstances for the country (and world) as a whole just does not seem to make any sense.
I put together a reasonably large consignment (for me) with a dealer a few weeks before this all went crazy. The coins are selling just fine, and at the expected price point. I’m also buying a little too, but at a reduced level.
Or maybe we have some collectors who are fortunate that their income has not been adversely affected, and are availing themselves of the opportunity to bid at auction on quality coins with less competition (fewer bidders), regardless of the price level. We know for a fact from this forum alone many are not buying at this time, or are buying less.
My collecting “Pride & Joy” is my PCGS Registry Dansco 7070 Set:
https://www.pcgs.com/setregistry/type-sets/design-type-sets/complete-dansco-7070-modified-type-set-1796-date/publishedset/213996
In the under $500 market, where I'm at, this is a buyers market. Even more so in another month.
In the face of a crisis, sellers tend to be a bit more hesitant to put coins on the market and buyers become more active thinking there will be deals to be had. These factors tend to mitigate price declines, at least until general economic circumstances become more dire.
I agree. One of mine that I was tired of did "better" than I expected at GC.
Less than purchase price a year or so ago, but not all that bad.
I'll add that early gold seemed to take a dip for a while, but is now seemingly "recovering."
Don't know about Heritage, etc, but I sold some PCGS Barber Quarter dups a few weeks ago, on eBay....did very well.
Tons of watchers/bidders. I was a bit worried as I always start at a penny, with no reserve. Did well. I sense that lots of bored lonely folks are sitting in front of their keyboards.
Dave
There's plenty about the market that I don't understand, but with some confidence I can say the market remains hungry for quality material.
No. The exception would be if you owned an ultra rarity and knew a few whales pursuing it.
Meh. Freshness is overrated.
Based on what I see selling on FB and the 'bay, prices are very strong. I've gotten nuked more than normal on eBay on what I would have considered sleeper lots just last month.
I've also sold a few items myself, and they've gone for price listed, VERY quickly, and from prominent dealers and those in the industry. We're talking CAC, desirable holders, top of grade, gold and Commems with all the attributes.
But even common stuff is getting snapped up for pretty reasonable prices and bidding has not abated.
And the folks in my area are chomping at the bit to get back to it with coin shows and buying/selling as soon as it is sensible and reasonable to do so, given the health concerns.
Gonna get me a $50 Octagonal someday. Some. Day.
Holy smokes am I getting destroyed on Heritage...WTH?
So much for me wanting to upgrade.
My Saint Set
I recently sold a nice Carson City $5 at a very strong price. It motivated me to consign the rest of my high end duplicates that were just taking up space. It seems like this is a great time to sell, as inventories are low and are not easily replenished.
I agree the high end coins esp. with cac stickers are strong; we have a lot more online viewers now, and the $1200 plus stimulus didn't hurt. Self employed people who are not making much money may not be too eager to buy numismatics unless they can get a good deal.
Well unfortunately I had coins just starting auction at GC right when this mess hit I ended up being ok
https://www.pcgs.com/setregistry/quarters/washington-quarters-major-sets/washington-quarters-date-set-circulation-strikes-1932-present/publishedset/209923
https://www.pcgs.com/setregistry/quarters/washington-quarters-major-sets/washington-quarters-date-set-circulation-strikes-1932-present/album/209923