I don’t know what to make of the pre-1933 gold market right now. A lot of the prices I see being realized on quality collector grade coins just seem insane if based on all available price data, including APR’s. Here are a few examples of nice coins that realized prices that I just can’t wrap my head around:
1799 $5 VF35 CAC just sold via Heritage for $21,600 tonight. Nice coin, but really?? A couple years ago that would be the price for a mid to high AU CAC gem.
Bottom line, these aren’t just strong prices but crazy strong prices that I can’t figure out. Is this the new norm for the market, or are some buyers getting buried? I hope the latter since if these kind of prices become the norm I’ll have to shift my collecting focus to colorized state quarters.
In looking at PCGS 3000 graph 1970 to date - from Dec 94 market hasn’t done much nor even come close to 89. Considering inflation a loss. Bull Market - depends on ones outlook / perspective.
I'm not sure it means what a lot of people think it means as pop numbers have changed a lot over the years.
I'm not sure what you are getting at. The increased populations are one of the main reasons behind the data. Buyers (not just collectors) incorrectly thought many of the coins were a lot scarcer than it turned out to be. There are duplicate resubmissions in the data but most don't have an indication of how much it's off.
In the absence of sales pairs (a Case Shiller equivalent) comparing the same coin over time to remove the distortions of "gradeflation", it's all we've got.
@291fifth said:
Ordinary collectors are now effectively priced out of the market for many/most quality coins. This is fueling demand for easily available (and easily promoted) items such as Morgan and Peace Dollars and ASE's with high slab grades. Does this movement have legs or is it just a bubble? It will be interesting to see what develops.
The inability to afford decent coins is also fueling the search for minor "errors" and "varieties" that we see evidence of on this board nearly every day. I doubt if many collectors of this kind of thing will be around much longer than their first attempt to sell such material for a profit. Most who post such items on this board seem to disappear very quickly.
Yet other collectors priced out of their current fields of interest make better decisions. Plenty of new and affordable frontiers to explore, and many represent extraordinary value.
Plenty of new and affordable frontiers to explore ... a big YES!
Extraordinary value ... maybe so, maybe not. Some thin markets just stay thin. Collectors may be enthusiastic but there just aren't many of them around. Many US collectors just want to cling to their Morgans.
Or those who are priced out of what they buy now may just quit altogether.
If some collectors "quit altogether" because US coin prices continue to rise---well I can live with that. All coin prices could remain flat and we keep those collectors---that seems to be the less desirable option.
Rather than quitting i think most collectors will be more selective and buy fewer coins. This may make the prices rise even higher for truely rare choice coins everyone will fight over.
Excellent article. Some continue to take the doom and gloom approach about our hobby disappearing but as this article points out numismatics has never had the depth of serious collectors as it does now. Truely scarce coins will continue to benefit.
@LGTheCoinAnalyst said:
I just had an article published that compares today's boom with the crazy 1980s that readers of this thread may enjoy though
Here is the link. Good and timely article.
Thanks
Excellent article. Some continue to take the doom and gloom approach about our hobby disappearing but as this article points out numismatics has never had the depth of serious collectors as it does now. Truely scarce coins will continue to benefit.
You can never set foot into the same river twice. However, you do get wet every time.
100% positive transactions with SurfinxHI, bigole, 1madman, collectorcoins, proofmorgan, Luke Marshall, silver pop, golden egg, point five zero,coin22lover, alohagary, blaircountycoin,joebb21
i'm kind of wishy washy, lol, i'm more of a collector then a seller, most of my stuff is in high demand, and it will continue to appreciate, at the same time i don't want to hoard
In looking at PCGS 3000 graph 1970 to date - from Dec 94 market hasn’t done much nor even come close to 89. Considering inflation a loss. Bull Market - depends on ones outlook / perspective.
I'm not sure it means what a lot of people think it means as pop numbers have changed a lot over the years.
I'm not sure what you are getting at. The increased populations are one of the main reasons behind the data. Buyers (not just collectors) incorrectly thought many of the coins were a lot scarcer than it turned out to be. There are duplicate resubmissions in the data but most don't have an indication of how much it's off.
In the absence of sales pairs (a Case Shiller equivalent) comparing the same coin over time to remove the distortions of "gradeflation", it's all we've got.
You are getting at the issue which is that the chart should not be read as coin prices declining since the coins at one part of the timeline are not equivalent to the coins at a different time.
@jonruns
Another great example of what I am seeing. If a C and D branch gold piece has CAC approval the sky is the limit. Often the same price as coins graded much higher.
I would love to see a chart showing 100 CAC coins from 15 years ago compared to those same CAC coins now.
In looking at PCGS 3000 graph 1970 to date - from Dec 94 market hasn’t done much nor even come close to 89. Considering inflation a loss. Bull Market - depends on ones outlook / perspective.
I'm not sure it means what a lot of people think it means as pop numbers have changed a lot over the years.
I'm not sure what you are getting at. The increased populations are one of the main reasons behind the data. Buyers (not just collectors) incorrectly thought many of the coins were a lot scarcer than it turned out to be. There are duplicate resubmissions in the data but most don't have an indication of how much it's off.
In the absence of sales pairs (a Case Shiller equivalent) comparing the same coin over time to remove the distortions of "gradeflation", it's all we've got.
You are getting at the issue which is that the chart should not be read as coin prices declining since the coins at one part of the timeline are not equivalent to the coins at a different time.
I'd say the chart is absolutely "directionally" accurate, though component prices will vary in accuracy. Believing anything else is a rationalization.
@pcgscacgold said: @jonruns
Another great example of what I am seeing. If a C and D branch gold piece has CAC approval the sky is the limit. Often the same price as coins graded much higher.
I would love to see a chart showing 100 CAC coins from 15 years ago compared to those same CAC coins now.
Yes jt88- here are 2 of the error coins in Heritage that realized strong prices:
$9600.
$5760.
mikebyers.com Dealer in Major Mint Errors, Die Trials & Patterns - Author of NLG Best World Coin Book World's Greatest Mint Errors - Publisher & Editor of minterrornews.com.
Those market charts are really only good for promoting an overall upward trend.
Which is fine, the more positive the better to keep the new well-heeled entrants interested.
This is a new era, doesn't compare the late 80's.
Information is not confined to the major stakeholders and dealer network. That is a massive positive development to help keep the marketplace stable, active, liquid and level.
TurtleCat- obviously you know about that, but here’s a bit more info for those who don’t:
A very small group of Proof errors recently came from a collection that was auctioned by the State of California. The U.S. Secret Service inspected and released this collection to the State of California determining that it was legal to own. The State of California then auctioned the collection and it has been dispersed since the sale.
mikebyers.com Dealer in Major Mint Errors, Die Trials & Patterns - Author of NLG Best World Coin Book World's Greatest Mint Errors - Publisher & Editor of minterrornews.com.
@pcgscacgold said: @jonruns
Another great example of what I am seeing. If a C and D branch gold piece has CAC approval the sky is the limit. Often the same price as coins graded much higher.
I would love to see a chart showing 100 CAC coins from 15 years ago compared to those same CAC coins now.
CAC had barely started 15 years ago.
I well remember being at shows back when CAC was just beginning to gain traction and listening to dealers speaking with customers. Their comments when asked about the new green beans were easily 90% derogatory, mostly along the lines of "meaningless sticker, they'll be out of business in a couple years".
@jt88 said:
In the HA auction that just ended today, there were some error coins that seemed to be selling at a high price for quarters, half dollars, and dollars.
@Byers said:
Yes jt88- here are 2 of the error coins in Heritage that realized strong prices:
‘There are definitely strong proof error coins recently. People seem to just love these coins.’
There was active bidding and most went for strong prices.
mikebyers.com Dealer in Major Mint Errors, Die Trials & Patterns - Author of NLG Best World Coin Book World's Greatest Mint Errors - Publisher & Editor of minterrornews.com.
Many error collectors have voiced the opinion that it’s the ultimate prize for an Ike Dollar mint error.
mikebyers.com Dealer in Major Mint Errors, Die Trials & Patterns - Author of NLG Best World Coin Book World's Greatest Mint Errors - Publisher & Editor of minterrornews.com.
@pcgscacgold said: @jonruns
Another great example of what I am seeing. If a C and D branch gold piece has CAC approval the sky is the limit. Often the same price as coins graded much higher.
I would love to see a chart showing 100 CAC coins from 15 years ago compared to those same CAC coins now.
CAC had barely started 15 years ago. > @pcgscacgold said:
Not bad, paid $105,000 and wants offers over $157,500.
That might just be the default setting on Heritage
Either the buyer of the clover at 105k is going to keep it forever, or want a very healthy profit reflected in his asking price, because something like that is not purchased to flop for 5% like a STG in 65😉
mikebyers.com Dealer in Major Mint Errors, Die Trials & Patterns - Author of NLG Best World Coin Book World's Greatest Mint Errors - Publisher & Editor of minterrornews.com.
Maybe I could put an order in for a set struck with an ASE or the 2021 Peace Dollar dies. Surprised more don't come out when workers see them hitting $100,000.
The quality control at the U.S. Mint has drastically improved and almost nothing escapes the Mint, and very little is discovered anymore.
The clover is almost half a century old.
It is public knowledge that the SF Mint had a few security issues 50 years ago. Some proof and mint state errors got out.
The proof errors contained in the safety deposit boxes that were examined by the Secret Service, and auctioned by the State of CA, were sold and dispersed.
Virtually nothing is discovered or escapes anymore. Even major mint state error coins dated 2010 or newer, are rarely seen.
mikebyers.com Dealer in Major Mint Errors, Die Trials & Patterns - Author of NLG Best World Coin Book World's Greatest Mint Errors - Publisher & Editor of minterrornews.com.
@pcgscacgold said: @jonruns
Another great example of what I am seeing. If a C and D branch gold piece has CAC approval the sky is the limit. Often the same price as coins graded much higher.
I would love to see a chart showing 100 CAC coins from 15 years ago compared to those same CAC coins now.
CAC had barely started 15 years ago. > @pcgscacgold said:
Not bad, paid $105,000 and wants offers over $157,500.
That might just be the default setting on Heritage
I don’t know what the default setting is, but I’m confident it’s not anywhere close to that.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
@MFeld said:
I don’t know what the default setting is, but I’m confident it’s not anywhere close to that.
No that's the standard offer. You have to offer at least 50% more. Here's what it says on Heritage's site:
This amount was not set by the owner and does not indicate that they will accept the offer. The minimum offer amount, unless overridden by the owner, is set to the purchase price plus 50% (minimum $300). If a previous offer on this item has been rejected, the new minimum offer amount automatically increases to 5% higher than the previous offer (or 10% for items less than $1,000).
@pcgscacgold said: @jonruns
Another great example of what I am seeing. If a C and D branch gold piece has CAC approval the sky is the limit. Often the same price as coins graded much higher.
I would love to see a chart showing 100 CAC coins from 15 years ago compared to those same CAC coins now.
CAC had barely started 15 years ago. > @pcgscacgold said:
Not bad, paid $105,000 and wants offers over $157,500.
That might just be the default setting on Heritage
I don’t know what the default setting is, but I’m confident it’s not anywhere close to that.
I thought it was 30%. That is exactly 50%. But I'm going by the wording. It doesn't say "buy it now for $157,500", it says "make offer to owner of at least $157,500".
@MFeld said:
I don’t know what the default setting is, but I’m confident it’s not anywhere close to that.
No that's the standard offer. You have to offer at least 50% more. Here's what it says on Heritage's site:
This amount was not set by the owner and does not indicate that they will accept the offer. The minimum offer amount, unless overridden by the owner, is set to the purchase price plus 50% (minimum $300). If a previous offer on this item has been rejected, the new minimum offer amount automatically increases to 5% higher than the previous offer (or 10% for items less than $1,000).
Thank you! Now, I’m curious and want to find out if the minimum used to be a smaller percentage.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
@earlyAurum said:
It feels like a great time for our hobby. I don't think this is a peak as was experienced in 1980. This seems broad based and driven by collectors both new and old.
What are your thoughts on what we are witnessing? Is this a structural event or a temporary one? Were you as impressed as I have been?
I'm impressed by it. I think available capital is driving prices. If the stock market and real estate continue to affect the economy, I think coins will continue to go up.
BTW - I did not buy a single coin!
Why not? If it's such a great time, why stay on the side lines?
There is tremendous strength in many segments of numismatics right now. And virtually unlimited money going into collectables and coins. It’s an exciting market!
mikebyers.com Dealer in Major Mint Errors, Die Trials & Patterns - Author of NLG Best World Coin Book World's Greatest Mint Errors - Publisher & Editor of minterrornews.com.
Tonight I have officially gone to the dark side and have sold my first coin, and 59 others on GC. As I have held them for over a decade I still do not qualify for the nasty F word…at least I hope not😄
100% positive transactions with SurfinxHI, bigole, 1madman, collectorcoins, proofmorgan, Luke Marshall, silver pop, golden egg, point five zero,coin22lover, alohagary, blaircountycoin,joebb21
@Mgarmy said:
Tonight I have officially gone to the dark side and have sold my first coin, and 59 others on GC. As I have held them for over a decade I still do not qualify for the nasty F word…at least I hope not😄
I thought the dark side was world coins
Selling is a normal part of light side collecting!
100% positive transactions with SurfinxHI, bigole, 1madman, collectorcoins, proofmorgan, Luke Marshall, silver pop, golden egg, point five zero,coin22lover, alohagary, blaircountycoin,joebb21
@earlyAurum said:
It feels like a great time for our hobby. I don't think this is a peak as was experienced in 1980. This seems broad based and driven by collectors both new and old.
What are your thoughts on what we are witnessing? Is this a structural event or a temporary one? Were you as impressed as I have been?
I'm impressed by it. I think available capital is driving prices. If the stock market and real estate continue to affect the economy, I think coins will continue to go up.
BTW - I did not buy a single coin!
Why not? If it's such a great time, why stay on the side lines?
I didn’t buy anything because nothing fit my collecting goals. I was tempted. There are always nice coins but I want to maintain as much dry powder for when a special coin that fits my collection comes up. Trying to stay disciplined.
@earlyAurum said:
It feels like a great time for our hobby. I don't think this is a peak as was experienced in 1980. This seems broad based and driven by collectors both new and old.
What are your thoughts on what we are witnessing? Is this a structural event or a temporary one? Were you as impressed as I have been?
I'm impressed by it. I think available capital is driving prices. If the stock market and real estate continue to affect the economy, I think coins will continue to go up.
BTW - I did not buy a single coin!
Why not? If it's such a great time, why stay on the side lines?
I didn’t buy anything because nothing fit my collecting goals. I was tempted. There are always nice coins but I want to maintain as much dry powder for when a special coin that fits my collection comes up. Trying to stay disciplined.
I like that approach, but it seems I don't have as much self-discipline as you. Recently I had just 2 things to bid on going into auction day and on the day of the auction, I added two more
Comments
I don’t know what to make of the pre-1933 gold market right now. A lot of the prices I see being realized on quality collector grade coins just seem insane if based on all available price data, including APR’s. Here are a few examples of nice coins that realized prices that I just can’t wrap my head around:
1850-D $5 XF45 CAC $8,950. A year and a half ago this was a $3-4k coin.
https://www.greatcollections.com/Coin/1024674/1850-D-Liberty-Gold-Half-Eagle-PCGS-XF-45-CAC
1854-D $5 XF45 gold CAC $17k. Nice coin, but common for Dahlonega. Mid AU probably. Realized premium MS CAC price.
https://www.greatcollections.com/Coin/1024679/1854-D-Liberty-Gold-Half-Eagle-Large-D-PCGS-XF-45-CAC-Gold-Label-OGH-1st-Gen
1862-S PC15 CAC $5, just sold for $15,600 tonight on Heritage. Same coin sold via Stacks without a sticker in 2016 for approx $3k. 5x appreciation in 5 years. Original auction: https://auctions.stacksbowers.com/lots/view/3-2LKB3/1862-s-liberty-half-eagle-fine-15-pcgs
1799 $5 VF35 CAC just sold via Heritage for $21,600 tonight. Nice coin, but really?? A couple years ago that would be the price for a mid to high AU CAC gem.
Bottom line, these aren’t just strong prices but crazy strong prices that I can’t figure out. Is this the new norm for the market, or are some buyers getting buried? I hope the latter since if these kind of prices become the norm I’ll have to shift my collecting focus to colorized state quarters.
I'm not sure what you are getting at. The increased populations are one of the main reasons behind the data. Buyers (not just collectors) incorrectly thought many of the coins were a lot scarcer than it turned out to be. There are duplicate resubmissions in the data but most don't have an indication of how much it's off.
In the absence of sales pairs (a Case Shiller equivalent) comparing the same coin over time to remove the distortions of "gradeflation", it's all we've got.
If some collectors "quit altogether" because US coin prices continue to rise---well I can live with that. All coin prices could remain flat and we keep those collectors---that seems to be the less desirable option.
Rather than quitting i think most collectors will be more selective and buy fewer coins. This may make the prices rise even higher for truely rare choice coins everyone will fight over.
I just had an article published that compares today's boom with the crazy 1980s that readers of this thread may enjoy though
Here is the link. Good and timely article.
Thanks
https://coinweek.com/modern-coins/the-coin-analyst-comparing-todays-booming-coin-market-with-the-1980s/
Excellent article. Some continue to take the doom and gloom approach about our hobby disappearing but as this article points out numismatics has never had the depth of serious collectors as it does now. Truely scarce coins will continue to benefit.
You can never set foot into the same river twice. However, you do get wet every time.
Why not use the BS&T forum? I put up a nice half eagle last week and it lasted a couple hours.
Coinlearner, Ahrensdad, Nolawyer, RG, coinlieutenant, Yorkshireman, lordmarcovan, Soldi, masscrew, JimTyler, Relaxn, jclovescoins
Now listen boy, I'm tryin' to teach you sumthin' . . . . that ain't no optical illusion, it only looks like an optical illusion.
My mind reader refuses to charge me....
Great Article…thank you
100% positive transactions with SurfinxHI, bigole, 1madman, collectorcoins, proofmorgan, Luke Marshall, silver pop, golden egg, point five zero,coin22lover, alohagary, blaircountycoin,joebb21
i'm kind of wishy washy, lol, i'm more of a collector then a seller, most of my stuff is in high demand, and it will continue to appreciate, at the same time i don't want to hoard
You are getting at the issue which is that the chart should not be read as coin prices declining since the coins at one part of the timeline are not equivalent to the coins at a different time.
Philippines pesos prices are going to the moon. A 200 dollar peso in 2018 would probably go for around 1000 dollars today.
@Wahoo554
How about this one:
@jonruns
Another great example of what I am seeing. If a C and D branch gold piece has CAC approval the sky is the limit. Often the same price as coins graded much higher.
I would love to see a chart showing 100 CAC coins from 15 years ago compared to those same CAC coins now.
Successful BST with drddm, BustDMs, Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
I'd say the chart is absolutely "directionally" accurate, though component prices will vary in accuracy. Believing anything else is a rationalization.
CAC had barely started 15 years ago.
Yes jt88- here are 2 of the error coins in Heritage that realized strong prices:
$9600.
$5760.
Does anyone know how proof coins like those above wound up on the market---as isolated coins, or pulled out of proof sets?
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
Those market charts are really only good for promoting an overall upward trend.
Which is fine, the more positive the better to keep the new well-heeled entrants interested.
This is a new era, doesn't compare the late 80's.
Information is not confined to the major stakeholders and dealer network. That is a massive positive development to help keep the marketplace stable, active, liquid and level.
Probably the moonlight minters work that was in the SF safe deposit box that was auctioned.
Nice to have that CAC sticker as illustrated below. Same auction, same time.
TurtleCat- obviously you know about that, but here’s a bit more info for those who don’t:
A very small group of Proof errors recently came from a collection that was auctioned by the State of California. The U.S. Secret Service inspected and released this collection to the State of California determining that it was legal to own. The State of California then auctioned the collection and it has been dispersed since the sale.
I well remember being at shows back when CAC was just beginning to gain traction and listening to dealers speaking with customers. Their comments when asked about the new green beans were easily 90% derogatory, mostly along the lines of "meaningless sticker, they'll be out of business in a couple years".
Coinlearner, Ahrensdad, Nolawyer, RG, coinlieutenant, Yorkshireman, lordmarcovan, Soldi, masscrew, JimTyler, Relaxn, jclovescoins
Now listen boy, I'm tryin' to teach you sumthin' . . . . that ain't no optical illusion, it only looks like an optical illusion.
My mind reader refuses to charge me....
@jt88 @Byers
There are definitely strong proof error coins recently. People seem to just love these coins. It doesn't hurt that the coins are easy on the eyes!
Here's one I was looking at recently: Almost $17k for an off center!
197?-S Eisenhower Dollar, Silver -- Struck 50% Off Center -- PR67 Ultra Cameo NGC
And of course, this from June is leading the pack at $105,000. Amazing result.
Undated Three-Piece "Clover Leaf" Eisenhower Dollar -- Struck on Clad Dime Planchets -- PR68 Ultra Cameo NGC
Wow. Give the midnight minter an award for creativity. What's next--three different-sized planchets?
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
Zions- you are correct saying that
‘There are definitely strong proof error coins recently. People seem to just love these coins.’
There was active bidding and most went for strong prices.
Not bad, paid $105,000 and wants offers over $157,500.
Successful BST with drddm, BustDMs, Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
Could be worth it as it’s a halo coin. It might be the ultimate error Ike.
I know it definitely sold, someone made a lot and now someone else is okay selling for more. Super strong market.
Many error collectors have voiced the opinion that it’s the ultimate prize for an Ike Dollar mint error.
CAC had barely started 15 years ago. > @pcgscacgold said:
That might just be the default setting on Heritage
Either the buyer of the clover at 105k is going to keep it forever, or want a very healthy profit reflected in his asking price, because something like that is not purchased to flop for 5% like a STG in 65😉
Maybe I could put an order in for a set struck with an ASE or the 2021 Peace Dollar dies. Surprised more don't come out when workers see them hitting $100,000.
Successful BST with drddm, BustDMs, Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
Once they see those prices there will undoubtedly be more made. Kind of like coins struck on nails.
Successful BST with ad4400, Kccoin, lablover, pointfivezero, koynekwest, jwitten, coin22lover, HalfDimeDude, erwindoc, jyzskowsi, COINS MAKE CENTS, AlanSki, BryceM
The quality control at the U.S. Mint has drastically improved and almost nothing escapes the Mint, and very little is discovered anymore.
The clover is almost half a century old.
It is public knowledge that the SF Mint had a few security issues 50 years ago. Some proof and mint state errors got out.
The proof errors contained in the safety deposit boxes that were examined by the Secret Service, and auctioned by the State of CA, were sold and dispersed.
Virtually nothing is discovered or escapes anymore. Even major mint state error coins dated 2010 or newer, are rarely seen.
I don’t know what the default setting is, but I’m confident it’s not anywhere close to that.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
No that's the standard offer. You have to offer at least 50% more. Here's what it says on Heritage's site:
This amount was not set by the owner and does not indicate that they will accept the offer. The minimum offer amount, unless overridden by the owner, is set to the purchase price plus 50% (minimum $300). If a previous offer on this item has been rejected, the new minimum offer amount automatically increases to 5% higher than the previous offer (or 10% for items less than $1,000).
Follow me on MyCollect!
I thought it was 30%. That is exactly 50%. But I'm going by the wording. It doesn't say "buy it now for $157,500", it says "make offer to owner of at least $157,500".
Sorry, not that you have to offer at least 50% more. It's just the default offer that Heritage sets unless you override it.
Follow me on MyCollect!
Thank you! Now, I’m curious and want to find out if the minimum used to be a smaller percentage.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Yeah, IIRC the default used to be 30%. Not sure why they changed that to 50%. 50% is quite a lot unless the coin was last sold like 5+ years ago.
Follow me on MyCollect!
I'm impressed by it. I think available capital is driving prices. If the stock market and real estate continue to affect the economy, I think coins will continue to go up.
Why not? If it's such a great time, why stay on the side lines?
There is tremendous strength in many segments of numismatics right now. And virtually unlimited money going into collectables and coins. It’s an exciting market!
Tonight I have officially gone to the dark side and have sold my first coin, and 59 others on GC. As I have held them for over a decade I still do not qualify for the nasty F word…at least I hope not😄
100% positive transactions with SurfinxHI, bigole, 1madman, collectorcoins, proofmorgan, Luke Marshall, silver pop, golden egg, point five zero,coin22lover, alohagary, blaircountycoin,joebb21
I thought the dark side was world coins
Selling is a normal part of light side collecting!
😄
100% positive transactions with SurfinxHI, bigole, 1madman, collectorcoins, proofmorgan, Luke Marshall, silver pop, golden egg, point five zero,coin22lover, alohagary, blaircountycoin,joebb21
I didn’t buy anything because nothing fit my collecting goals. I was tempted. There are always nice coins but I want to maintain as much dry powder for when a special coin that fits my collection comes up. Trying to stay disciplined.
I don’t think he is greedy, only 50% profit.
I like that approach, but it seems I don't have as much self-discipline as you. Recently I had just 2 things to bid on going into auction day and on the day of the auction, I added two more
CAC price guide in 58 = $1980
Not what you're thinking, but $3,825.00 may be a sign that the market is cooling off as it last sold for $4,320 on June 11, 2021: