I spoke with a local pawn shop today where they had a woman come in with an inherited collection of raw gold including territorial issues, they said most of the type gold graded high. In my opinion her mistake was opening her mouth as to the origin of the collection and that she just wanted to take her family for a vacation to Disneyland. She got gold melt for the coins when if she had said she was getting offers she would have gotten more. You rarely see rank amateurs listing much better gold coins as buy it nows on ebay.
@logger7 said:
I spoke with a local pawn shop today where they had a woman come in with an inherited collection of raw gold including territorial issues, they said most of the type gold graded high. In my opinion her mistake was opening her mouth as to the origin of the collection and that she just wanted to take her family for a vacation to Disneyland. She got gold melt for the coins when if she had said she was getting offers she would have gotten more. You rarely see rank amateurs listing much better gold coins as buy it nows on ebay.
The pawn shop robbed her. Of course unethical coin shops do that too.
@logger7 said:
I spoke with a local pawn shop today where they had a woman come in with an inherited collection of raw gold including territorial issues, they said most of the type gold graded high. In my opinion her mistake was opening her mouth as to the origin of the collection and that she just wanted to take her family for a vacation to Disneyland. She got gold melt for the coins when if she had said she was getting offers she would have gotten more. You rarely see rank amateurs listing much better gold coins as buy it nows on ebay.
The pawn shop robbed her. Of course unethical coin shops do that too.
I agree....saaad....But I have known many dealers who "read" their customer sellers and bias their offers with a pokerface based on maximizing their profits.
I stay busy. I'd pay through the nose if they'd offer a service that alerts me immediately when a coin matching my search is listed. Sometimes I get those alerts 6-10 hours after the coin is listed.
This was one of my favorite picks off ebay - think it cost $200 or so.
"My friends who see my collection sometimes ask what something costs. I tell them and they are in awe at my stupidity." (Baccaruda, 12/03).I find it hard to believe that he (Trump) rushed to some hotel to meet girls of loose morals, although ours are undoubtedly the best in the world. (Putin 1/17) Gone but not forgotten. IGWT, Speedy, Bear, BigE, HokieFore, John Burns, Russ, TahoeDale, Dahlonega, Astrorat, Stewart Blay, Oldhoopster, Broadstruck, Ricko, Big Moose, Cardinal.
@Lakesammman said:
This was one of my favorite picks off ebay - think it cost $200 or so.
I wonder what's going on in the heads of those who list numismatic items for well under market value as buy it nows? Looking for quick cash, what they are selling may have a shady origin so they don't want them up too long as in an auction where others may take notice? An unwillingness or inability to do any research on value?
Some of the listings have boggled the mind, such as listing a $10K coin for under $150 in one case, which may take the cake for listing vs. market value ratio.
@Lakesammman said:
This was one of my favorite picks off ebay - think it cost $200 or so.
I wonder what's going on in the heads of those who list numismatic items for well under market value as buy it nows? Looking for quick cash, what they are selling may have a shady origin so they don't want them up too long as in an auction where others may take notice? An unwillingness or inability to do any research on value?
Some of the listings have boggled the mind, such as listing a $10K coin for under $150 in one case, which may take the cake for listing vs. market value ratio.
Most of the time us buyers are just exploiting the knowledge gap.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
Don't recall - it was 2012 - even then it was a rip!
"My friends who see my collection sometimes ask what something costs. I tell them and they are in awe at my stupidity." (Baccaruda, 12/03).I find it hard to believe that he (Trump) rushed to some hotel to meet girls of loose morals, although ours are undoubtedly the best in the world. (Putin 1/17) Gone but not forgotten. IGWT, Speedy, Bear, BigE, HokieFore, John Burns, Russ, TahoeDale, Dahlonega, Astrorat, Stewart Blay, Oldhoopster, Broadstruck, Ricko, Big Moose, Cardinal.
I go to
eBay, go to categories, coins, uscoins (or bullion depending on day) view all, then sort ending soonest. I will scroll until the suction ends times are about 2 hours out. I have found many deals that way. The thing is you are looking at the auctions just about to end, and filtering nothing, so sometimes you find items buyers missed, sometimes mis.spellings in the title, or people who don't have much knowledge listed "old coins". My best pickup was in 2020, an old library of coins album for walking liberty halves. The album was an old library of coins album collection, those are 1916 -1937. I won this for $93 as the second bidder. It has 22 walkers in it including a 1921 and 1921 S. The coins missing in the album were mostly later date (late 20s and 30s) most early dates were present. I already had Dansco started with an AU short set and extras, so I moved the coins out of the library album into the Dansco.
As you go up the value scale, over $1000 or $2000 or more the potential buyers get more exacting and less likely to take risks. If a seller has not listed much in the way of high value items before and suddenly lists a $7000 coin for say $5000, they may not get much interest for a while. I personally ran a rare piece of certified currency that was realistically worth double of the $4000 or so I sold it for at auction on ebay. The dealer I sold it to told me with a little conservation work he was able to get $18.5K for it. So lots of deals out there but reluctance too.
@Lakesammman said:
This was one of my favorite picks off ebay - think it cost $200 or so.
I wonder what's going on in the heads of those who list numismatic items for well under market value as buy it nows? Looking for quick cash, what they are selling may have a shady origin so they don't want them up too long as in an auction where others may take notice? An unwillingness or inability to do any research on value?
Some of the listings have boggled the mind, such as listing a $10K coin for under $150 in one case, which may take the cake for listing vs. market value ratio.
Might be. Not too long ago I picked up a 1796 Liberty Cap Cent for a steal - basically 30% of its market value as a BIN. The coin had been sitting in storage since the 1970s when it was bought from a shop according to the seller. Probably a case of being out of touch with the coin market.
I was looking through sold listings not too long ago and saw that an 1882 Brown Back $10 National graded PCGS 12, from a reputable seller no less, had sold as a BIN for... $99. Oh how I wish I caught that one...
"You can't get just one gun." "You can't get just one tattoo." "You can't get just one 1796 Draped Bust Large Cent."
@Lakesammman said:
This was one of my favorite picks off ebay - think it cost $200 or so.
I wonder what's going on in the heads of those who list numismatic items for well under market value as buy it nows? Looking for quick cash, what they are selling may have a shady origin so they don't want them up too long as in an auction where others may take notice? An unwillingness or inability to do any research on value?
Some of the listings have boggled the mind, such as listing a $10K coin for under $150 in one case, which may take the cake for listing vs. market value ratio.
Might be. Not too long ago I picked up a 1796 Liberty Cap Cent for a steal - basically 30% of its market value as a BIN. The coin had been sitting in storage since the 1970s when it was bought from a shop according to the seller. Probably a case of being out of touch with the coin market.
I was looking through sold listings not too long ago and saw that an 1882 Brown Back $10 National graded PCGS 12, from a reputable seller no less, had sold as a BIN for... $99. Oh how I wish I caught that one...
He probably apologized to the buyer saying that his computer keyboard suffered a stroke on that one and cancelled the sale. I have heard that happen more than once.
Comments
Settle down, old man!
"It's like God, Family, Country, except Sticker, Plastic, Coin."
I spoke with a local pawn shop today where they had a woman come in with an inherited collection of raw gold including territorial issues, they said most of the type gold graded high. In my opinion her mistake was opening her mouth as to the origin of the collection and that she just wanted to take her family for a vacation to Disneyland. She got gold melt for the coins when if she had said she was getting offers she would have gotten more. You rarely see rank amateurs listing much better gold coins as buy it nows on ebay.
The pawn shop robbed her. Of course unethical coin shops do that too.
I agree....saaad....But I have known many dealers who "read" their customer sellers and bias their offers with a pokerface based on maximizing their profits.
I stay busy. I'd pay through the nose if they'd offer a service that alerts me immediately when a coin matching my search is listed. Sometimes I get those alerts 6-10 hours after the coin is listed.
Check out my iPhone app SlabReader!
This was one of my favorite picks off ebay - think it cost $200 or so.
I wonder what's going on in the heads of those who list numismatic items for well under market value as buy it nows? Looking for quick cash, what they are selling may have a shady origin so they don't want them up too long as in an auction where others may take notice? An unwillingness or inability to do any research on value?
Some of the listings have boggled the mind, such as listing a $10K coin for under $150 in one case, which may take the cake for listing vs. market value ratio.
Most of the time us buyers are just exploiting the knowledge gap.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
Holy Crap! How long was that up before you nabbed it?
Don't recall - it was 2012 - even then it was a rip!
I go to
eBay, go to categories, coins, uscoins (or bullion depending on day) view all, then sort ending soonest. I will scroll until the suction ends times are about 2 hours out. I have found many deals that way. The thing is you are looking at the auctions just about to end, and filtering nothing, so sometimes you find items buyers missed, sometimes mis.spellings in the title, or people who don't have much knowledge listed "old coins". My best pickup was in 2020, an old library of coins album for walking liberty halves. The album was an old library of coins album collection, those are 1916 -1937. I won this for $93 as the second bidder. It has 22 walkers in it including a 1921 and 1921 S. The coins missing in the album were mostly later date (late 20s and 30s) most early dates were present. I already had Dansco started with an AU short set and extras, so I moved the coins out of the library album into the Dansco.
As you go up the value scale, over $1000 or $2000 or more the potential buyers get more exacting and less likely to take risks. If a seller has not listed much in the way of high value items before and suddenly lists a $7000 coin for say $5000, they may not get much interest for a while. I personally ran a rare piece of certified currency that was realistically worth double of the $4000 or so I sold it for at auction on ebay. The dealer I sold it to told me with a little conservation work he was able to get $18.5K for it. So lots of deals out there but reluctance too.
Might be. Not too long ago I picked up a 1796 Liberty Cap Cent for a steal - basically 30% of its market value as a BIN. The coin had been sitting in storage since the 1970s when it was bought from a shop according to the seller. Probably a case of being out of touch with the coin market.
I was looking through sold listings not too long ago and saw that an 1882 Brown Back $10 National graded PCGS 12, from a reputable seller no less, had sold as a BIN for... $99. Oh how I wish I caught that one...
"You can't get just one gun." "You can't get just one tattoo." "You can't get just one 1796 Draped Bust Large Cent."
He probably apologized to the buyer saying that his computer keyboard suffered a stroke on that one and cancelled the sale. I have heard that happen more than once.