Variety coins demand,and price points....
HalfDimeDude
Posts: 1,206 ✭✭✭✭✭
For many years I collected coins, over the years have collected ,sold,traded.... I was a roll/bag searcher finding many errors and variety coins. I still love collecting variety coins in general. I do collect a few series for date and mint mark. However still love to cherry pick ,as I love the hunt,and the finds.
But I've notice a decline in prices as well demand.
Now again l do love the hunt...in my college days searching rolls ,and bags ,in fact my parents evicted my bags of to be returns to the bank that ....never made it back to the bank! Yeah a little lazy about taking back bags of raw coins....back.
So when i got married the parents made me , remove all from their home to mine.That worked out as I did pay off my car with all those bags.
Back to my orginal post as now much older ,not having children,or family to pass on my collection, over the last few years ive been thining out my collection.
Picking out some to sell others to hold onto.
Im guessing that like a lot of things that values ,and demands do change and sometimes not for the good.
One example an 1939 ddr double Monticello i sold my ms-65 to a doctor friend years ago for $1500.
Decided to replace that variety but in Au and was schocked as to this variety pice point across the board.
The 1946 s DDO Jefferson a very rare variety price point in a mid grade ms coin still holds a fair to better price point...but little interest at said price point.
So what gives? Is the variety market in a slump in general? Lack of interest in varieties ?
Im not looking to make a killing on mine...just at my age, and no kids to pass them on...i wanted to either sell and move on...or at least leave my wife a detail list of varieties and the collection in general...just in case something should happen and she's left with the collection ....pretty much clueless as to price points,and the market.
Well maybe not clueless as she been around enough to know that there is value in the collection.
Plus yeah Ive sold off alot...but yet still buy....lol yeah its a sickness ,but its also a passion that will never end....well until I do! LoL
What puzzles me is you cant find these in the wild any longer....the same searching bags of unc, coins...its not like years ago where a bag of nickels could produce errors and varieties .
So what gives? Lack of interest? Tanked market? Over priced?
Your thoughts please.
"That's why I wander and follow La Vie Dansante"
Comments
Most varieties, if not listed in Redbook like the 1939 DDR, have a very thin market. People love to cherry pick them. Most people don't care to buy them. It's been this way for as long as I can remember.
There are a handful of varieties that get real money. The rest you are lucky to sell for a fraction of the supposed CPG price.
Good luck!
All comments reflect the opinion of the author, even when irrefutably accurate.
The CPG has to this collector just that a guide that for the most part has had many mistakes in the guide.
I do of course have both guides, but I rely on personal knowlege that over 50 plus years of colle ting. Other web sites, CONCA, and other experts in the field.
Price points in most published books are most part out of date before you purchase the text.
My concerns are over major variety coins....not the many hair splitting varieties that yes may be a variety,but no intreest as they are just no interest in such minor varieties.
"That's why I wander and follow La Vie Dansante"
I just sold a minor Jeff variety for $3.75
Found brutal truth unloading three coin hoard of a VAM. Same grade and TPG, sold in succession over three months... $1800, $1300, $700
Was looking at an 1889 VAM. Plenty of affordable AU examples sitting in TPG's. For $99. The MS examples only had a modest premium.
I would love to be a variety specialist in all series (kinda like EOC is to errors).
However there seems to be too much competition and not enough demand.
Will still hunt them, grade them, enjoy them, but with instructions to my heirs on where to sell them thru consignment.
BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out
I like the 'strong' varieties... for example, the '55 DDO, and others like that. The minor varieties are fun to find but do not have a large following. If I need a loupe to see it, I pass. Cheers, RickO
Having jumped into the variety search the last ten years I agree with yspsales: So many more searching thanks to the CPG, Youtube, Websites, etc. This has also increased the coin populations tremendously since the CPG was first published. So we now have a bunch of searchers hoping to hit it big but they generally don't buy and if they do, they are frugal. The variety registry sets show several folks, but honestly many have just listed their basic sets in the variety sets with no real effort behind populating the varieties.
WS
I agree but with no one to leave to Im trying to down scale....the trouble is Im jusy a guy who cant say no!..... its like watching a rat terrier see a squirrel....and here we go!
Question Did you see the Mel Fisher image I posted for you?
"That's why I wander and follow La Vie Dansante"
Yes I did!
That was a cool story!
He has kinda has led my treasure hunting alter ego for decades. Diving in the rivers looking for bottles and other goodies. Metal detecting. Coins seemed like a easier diversion, but no less expensive.
BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out
Another aspect that us older collectors have witness 1st hand... the dark part where one of us dinosaurs pass on.... who have never sold 1 coin ever! We all seen the type , where some of us up grade and sell the lesser, tire of something and sell and move, trade etc...
No im talking about someone who has everything..... from day 1 to the end..... so much stuff.
Then it hits the market. A few years back someone got a hold of a few unc. Rolls 1949 S Roosevelt dimes. Ebay was flooded with 49 s dimes in unbelievable grades at dollar store prices!
I could kick myself for not at least pulling the trigger on a 67 at those prices.
So again supply and demand but like playing hot potato as a kid.
"That's why I wander and follow La Vie Dansante"
Thin markets bring wild swings in results. If you think it is time to sell then do so at whatever the current market brings and don't worry about not getting the highest price ever realized for a thinly traded "variety".
My cherrypicking has evolved.
No longer just varieties.
Always on the lookout for non premium toners, high grade proofs, and looking to do more crack outs.
It has pushed me to improve skills and continue to add to my numismatic knowledge.
I am always flipping something so disposal should not be a huge burden.
BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out
I will share this story with you... Ill try and keep it short and to the point..
I was a 5 yo we lived in South Baltimore in a row home, our neighbors 2 old ladies , one of them had a brother who I was told many believe that he was poor.
My father who worked for the Federal Reserve bank always wore a suit to work....so he had several , as they got old he give them to the ladies to give to mr Freddy .
So mr Freddy wore dads old suits .... even with a tie.... so he kind of looked like a well dressed hobo.
Well mr Freddy passed, he was layed out in one of my dad suits.... true story.... afterwards his sister when to his home a small row home need of some repair....and started to go though his stuff.... she noticed a large number of coffee and tobacco cans...... yeah the bank of Prince Albert...to the tune of 70,000+/- usd in 1959 money!
This is what Im talking about.... of course these were old notes.... however again in 1959....not present.
"That's why I wander and follow La Vie Dansante"
A friend has a hotel in his family for the 40 years that I have known him.
Over the decades he has accumulated a large supply of silver certificates just cherypicking his cash drawer. Funny thing, we get an influx of Canadian Tourist every year and he swears most come from north of the border!
BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out
We had a family friend from New Port News Va. They inherited a farm had been in the family for decades... Reeds wife went into one of the old slave cabins. Once again coffee tins with money so rusted they stepped on them to open.
"That's why I wander and follow La Vie Dansante"
Good thread. You sound like you have a very wide spread of varieties in your long journey of collecting. I love the part of you accumulating all those coins before ever turning in. Esp. the result when you did. Lol
Sure, maybe you are correct in your assumption about the variety coin not as popular and financially rewarding but as long as there are writers of the C.P.G. and variety collectors like us crazy hound dogs, and the NEW up and coming interested variety collectors, the "thrill of the hunt" aspect will forever live on in this wonderful hobby for kings. That alone is priceless, don't you think? As to reaping from the harvest , if you find that right variety collector/s, you shall prosper much so. It's just finding that person or person's, is the key. Just like that certain variety, that person/s are out there as well. I love this hobby and everything about it!
Good Luck my friend
My oldest variety
1864L RPD AG 03 POP 1 Lowest graded in this variety category
My most modern variety
1997p Doubled Ear ms 65 RD
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.First thanks for your thoughts.....
I do agree with your take just about 100 %.... ive been blessed in life, no death wish here ,but would feel cheated if I fell over right now.
The journy has been one the school of hard knocks.....mostly do to my heritage, and realized mistakes in life are the stepping stones to knowlege.
You learn.... by experence.... be it good or bad. Any one who collects who ever tries to sell me that they never lost or over paid for a coin..... im like yeah right....
Be honest, with yourself first....then others will know you're an honest guy.
Lastly remember in this world things happen ....sometimes blind sided....
So live how you like others to remember you , thats the difference of being a legend ,or a once was..... thanks again for your input.
"That's why I wander and follow La Vie Dansante"
As a variety collector I sort of feel that I see what others miss!
I cannot count how many times I have at a show or looking on an ebay store and say to the dealer hey....there's a lot more meat on the bone! At which I have been thanked ,and ,
or told its a $300 coin the first takes it.... one reason I get good pricing from most of the dealers I know is they know that i will either help them id, or tell them straight up hey there is a $100 more value there.
And there's nothing like seeing a YN at a table and asking to see what they are considering a pur hase, to be able to give them a little more value...by assuring them hey....look at this >>>>
I really loved to see kids come in the show...with parents or grand parents...
"That's why I wander and follow La Vie Dansante"
One of the local dealers says the same thing- he'll have a cherrypicker in the shop who will spend an hour looking through boxes of coins trying to find the very coin he has in a 2x2 in his case, identified by variety and priced accordingly.
No offense to the CPs in the audience, but that is why dealers aren't usually fans. It is not usually, contrary to what a lot of CPs think, that the dealers resent selling a coin for "less than its worth". Dealers know how hard it is to get "what its worth". It's that they chew up hours of your time and spend very little money.
True story. Couple of weeks ago, I was visiting a dealer friend. Actually, it's more of a pawn shop. There was a guy there when I got there. He was picking through the 90% looking for dates or better condition coins. After about an hour, he bought about $2 face of 90% for $44.
I said to my friend, "that wasn't worth your time at 22x face."
He said, "It's more than X is paying" [X is the local scrapper.]
I said, "X is paying 19x. You got an extra $6 and it took you an hour and a half to get it."
I don't think I could ever own a retail B&M.
All comments reflect the opinion of the author, even when irrefutably accurate.
My thoughts for years has been a real distinction between a major and a minor one.
Lets look at the Ocean view Jefferson....omg! How many? State quarters how many? I personally feel that certain practices in this hobby may put a few dollars in ones pocket,but help destroy the hobby.
Now working a show a nice older gent came in, a grandfather whos granddaughter wrecked her car.
He came in with two shopping bags, full of late night TV junk purchases....were the boxs were worth more than the junk inside them.... he had all the bills and receipts what he paid and of course over paid.
Things like this, and hyping a coin or variety to a buyer that you just convinced is a good investment or a hot item....the poor guy I belped out to his car with the 2 bags as well wanted to know he was safe... no use getting shot for TV junk .
This sort of thing bugs me.... as where I come from your name is who you are...TG only a few times have I had another come to me with legitimate proof of a dealer or person who lets say...was not honest.
"That's why I wander and follow La Vie Dansante"
Sometimes, it's even worse than not spending anything. Regarding the dealer I mentioned- you don't even want to think about asking to look through his proof sets. He'll ask you what year and how many and get them for you. He won't hand you a box to sort through. I asked him why he does it that way and he told me it's because after fifty or a hundred people have gone through the sets looking for something that's not there (he checks for major varieties and cameos), the envelopes and boxes end up thrashed so badly that people who are just looking for a specific date won't buy them.
As we say in the education business: 20% of the students take up 80% of your time.
A dealer friend of mine used to say if he could just filter out the 10% of his customers that were worth the time, he could make a whole lot more money. I know that sounds dismissive of the other 90%, but if someone is taking up your time and not buying either higher margin items or a lot of lower margin items, you are losing money. You could better spend that time cataloguing coins or selling them online. [Or maybe answering emails with more than 2 words.
]
All comments reflect the opinion of the author, even when irrefutably accurate.
I have some experience in this area and can tell you with certainty that most people have no idea how time consuming answering emails is. When you include phone messages, there were often days when I started before 8AM and still wasn't finished by lunchtime. And when you are expected to know what the person writing to you is thinking but didn't actually say, that makes it all the more difficult.
I think this conversation went way past the
OP 's topic, no?
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.Now I never ever say this....so please understand that only because I have hadvto deal with so many types of people it isnt funny....I spent 40 +/- years in retail food. You never know who is walking though the door.... however customer service is job #1.
Please understand that there is a line....but only crossed by the customer not you....you need to keep a cool head , determine where this is going and act accordingly.
I am sorry if theres a customer who has plucked your last nerve! Your job is to keep this at a level that is manageable.
But the customer no matter how rude,how demanding is just that the customer who BTW is paying! After they are out of sight out of ear range mock them if that calms you down.
But doing business cost.....more ways than 1.....!
No matter food ,coins, anything you sell the customer counts....and here is a
little secret .....your counting their money and it going in your pocket.
End results you made a profit ,you got their money, and they got something....they are gone now.
Be prepared for the next bullgoose Looney to walkin the door.
And just when you believe that you seen the worse wait 5 seconds and see whom is coming in,next.
"That's why I wander and follow La Vie Dansante"
it almost seems the varieties that command a nice premium are ultra-rarities and top pops on varieties in popular registry sets.
Yes, so in saying that, varieties are still alive and well.
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.