Coins with Greatest Liquidty
Higashiyama
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Among coins with a significant numismatic premiums (so excluding bullion coins), which have the greatest liquidity? I'm curious to hear people's thoughts and examples.
By liquidity, I mean adequate demand and a relatively high degree of certainly with respect to retail value. Perhaps these would be coins that you could likely resell shortly after acquisition for 85 - 90 % of your purchase price?
(There are of course many wonderful coins with limited liquidity, but higher end and more modest coins)
Higashiyama
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Liberty Seated Dollars.
How do you define “significant numismatic premium” in terms of dollar value and/or premium over melt value?
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I'm not a dealer and so don't know the whole market, just a type set collector, but I have been watching the market for the earliest US coins for a long time. The very first stuff - 1793-96 or so, the chain/wreath cents, the flowing hair silver, always-always-always gets bid right up to the top of the market. I finally took the plunge and these things are big bucks, but I have no doubt I'd recoup my expense when the time comes to sell. (minus the auction fees of course, that's the cost of ownership.)
@MFeld - my goal would be to include coins where short term fluctuations in precious metal prices don’t affect the sales price much. To try to be more precise, let’s say that the numismatic value is at least 5x the bullion value? So, I think this would include virtually all copper and silver, and most older or rare date gold.
X
Thank you.
Here are some coins that quickly come to mind:
MS66 common date Morgan dollars, circulated 1909-S VDB and 1955 DDO cents,1937-D three legged nickels, 1916-D dimes, and Capped Bust half dollars.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
In some ways cac takes the guesswork out of trying to figure out where a certified coin stands relative to its assigned grade. I'd say that they have introduced a lot of liquidity with their backing.
Red Book varieties seem to be pretty liquid.
Key-date coins in popular series such as 1877 Indian cents, 1909SVDB Lincoln cents, 1916-D Mercury dimes, !932 D&S quarters, 1893-S Morgan dollars, etc,
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
Melted coins are very liquid before they cool
Pre-1933 slabbed common date US gold coins are extremely liquid.
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
I don't follow Washington quarters; but, I've been told by friends that 1932 D & S quarters have really come down in value. Is that not the case?
I haven't been following the Washington quarter market but I imagine your friends are talking about gem level slabbed coins. I also imagine that the coins in the circulated grades such as VF, XF, and AU readily sells to those who are plugging holes in their coin album. Just because the price drops on a coin, it doesn't mean that it isn't liquid.
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
For coins whose numismatic value is at least 5x the bullion value, my choice for most liquid would be uncirculated Carson City Morgan dollars.
My Adolph A. Weinman signature
When I asked the OP what he meant by “significant numismatic premium” he replied:
“@MFeld - my goal would be to include coins where short term fluctuations in precious metal prices don’t affect the sales price much. To try to be more precise, let’s say that the numismatic value is at least 5x the bullion value? So, I think this would include virtually all copper and silver, and most older or rare date gold”
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
They have declined in value over my lifetime when adjusting for inflation.
Better date coins.
Precisely. The gem key dates in the Washington quarter series have come down in value, but choice and near gem examples have increased. Also collector coins in grades, such as XF and VF are always in strong demand.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
Graded coins tend to be more liquid than raw coins. Was that part of the equation?
@MFeld
I dont disagree completely as the demand is there but most of those always have so many available. I have found it can be a challenge getting yours noticed at close to retail. There are other coins that don't have the same demand but due to their scarcity I have found them easier to move in multiple different avenues.
Basically which formula = the most liquid? 100 buyers for 200 coins (100 of them move but maybe not yours) or 10 buyers for 2 coins (only 2 move but both of them do). As a small time guy I find it easier to move coins that are not found in many if any cases. I know dealers like coins they can stock with lots of buyers which is why classic key dates in popular series tug at their hearts but I'm not so sure they are individually the most liquid as they are statistically the most.
My 2c
11.5$ Southern Dollars, The little “Big Easy” set
Key date coins, CAC green and gold beans, and classic types with good eye appeal.
Key dates with nice eye appeal.
NFL: Buffalo Bills & Green Bay Packers
US Dimes: 1793-1916 (G-04 to F-12)
Latin America: Early milled 1 reales
Defer to dealers but surprised so many here say key dates. I’d think common date ms65-66 Morgan dollars or Peace dollars would be more liquid. (Exception being 1909-S VDB, which made its way beyond the coin world and into pop culture).
By way of analogy a friend owns one the premier vintage guitar stores in the U.S. He has guitars owned by Hendrix, Clapton and Jerry Garcia for upwards of six figures. But he makes his money in the $10k-20k 1940’s and 1950’s Gibson and Martins market because they turnover so quickly.
Casual collector: Morgans & Peace Dollars & 20th Century Type Set. Successful BST transactions with Morgan13, CoinFinder, CoinHunter4, Bretsan.
Semi-key date coins within popular series are doing well.
1909-S Lincoln. 1931-S Lincoln. 1924-D Lincoln.
1931-S Buffalo nickel. 1913-D & S type one Buffalo nickels.
1921-D & S Mercury dimes.
peacockcoins
In my buying and selling experience, the following are easy to sell:
Everything else being equal, I'd put actual rarity and uncommon eye appeal at the top of the list.
Expensive, rare, pretty coins are sometimes ridiculously easy to sell. There are a lot of people (and a lot of dollars) chasing the very best coins. Of course, they're not so easy to buy.
Hopefully your rich uncle will leave you some in his will.
If I ever decide to sell my favorite 2 or 3 coins, I already have a list of people who say they want to buy them. It's no guarantee that they will feel the same way when the time comes, but it's a nice way to start.
Coins that you chase for 5 years are usually pretty easy to sell. Coins that you can buy in any quantity at any time aren't so easy to move.
Greatest Liquidity - Bullion Coins especially close to melt. Slabbed bullion coins also very popular and very affordable. I do believe slabbed silver bullion coins of USA, Britain, Mexico Libertads will be in strong demand. This is a very affordable strong market base. Many collecting date sets of these especially Mexico issues.
I think with losses in equities and projection by NY Prepper more to come bullion could be on way up. Numismatic coins you need a buyer who wants the coin. Furthermore if a market crash I expect CDN bids come down on big ticket numismatic material which probably will be hit hardest. People are going to be losing their jobs…if really big equities market crash. Once coin over $300 most coming in bourse room may not be able to afford it.
Your reply completely ignored the question from @Higashiyama in his opening post:
“Among coins with a significant numismatic premiums (so excluding bullion coins), which have the greatest liquidity? I'm curious to hear people's thoughts and examples.”
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Big deal so what lol - as a big picture guy my post was answering the title of the thread vs what some other poster thinks which is a microcosm of the over all situation lol.
Btw - GO UH Cougars! College Basketball Natl Champs!
I understand - you don’t dare do any extra reading or care whether what you post pertains to the question or topic at hand.
You’d make a great politician!
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
@MFeld I am new here but have to say I appreciate your precision with both words and ideas. John
Casual collector: Morgans & Peace Dollars & 20th Century Type Set. Successful BST transactions with Morgan13, CoinFinder, CoinHunter4, Bretsan.
Thank you, John and I hope you've been enjoying the forum.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Thanks all, I appreciate your responses!
It is interesting to look at the various sales data, which seem to validate the thought that key dates in circulated (or perhaps moderate grade BU) have high liquidity. I haven't looked in great detail, but, as an example, a 1909-s VDB seems to have remarkably predictable pricing. Similar, as MFeld suggested, for an 1881-s Morgan in MS66 -- which seems to sell quite predictably for $ 300 +/- 5 %. (unless, of course, it is notable toning!) Among popular though less common key dates, the 1895 Morgan seems to have a predictable price, at least in grades ranging from AU50 - MS63 or so. I'm guessing they are pretty easy to sell, if the seller is not unreasonably demanding on price. I've been following classic commems for years, and some, like a mid-grade Old Spanish Trail seem to have very stable pricing; probably this translates into liquidity. Finally, also in the classic commem realm, the Pan Pac $ 50 in MS63 or MS64 seems fairly easy to price, and I'm guessing they are not hard to sell.
(Recently I've been getting into ancient coins, and find the pricing quite difficult to figure out, other than directionally. So, I'm buying and learning at the same time.
)
I have been giving both the Colonial and Ancient markets some attention. It seems to take a bit of a mental shift from Classic 19th Century collecting. Slabs seem to be far less important but authentification is tantamount. i have yet to solve the problem of buying a coin that is not in a slab but is suppose to be authentic. There also seems to be a lot more stress placed on planchet quality. 19th century coins are usually round, most striking issues are easy to identify because i know my subject, but i am lost at this point trying to understand why some coins are expensive while other are not. anyway, wish you the best of luck, just wanted to share some of my experience so far. James
An interesting topic, and some great replies. Good food for thought. I don't think I'm qualified to add any suggestions, but I can relate the buying (and selling) and learning at the same time.
Do you consider taking 10 days to get your cash as being liquid? Like shipping a coin to a buyer and waiting for payment. So IMO liquidity depends upon how soon you need cash. Almost any coin can sell quickly if the price is right, tho you might take a substantial loss if you need cash ASAP. A former poster here from Houston JBSteven (Jason), said that a fast nickel beats a slow dime. Walking into a coin/bullion shop and walking out with cash is the fastest form of liquidity.
__**Almost any coin can sell quickly if the price is right,**
I agree. I’ve seen key date coins and tough type languish for years in dealers inventories, when overpriced.
PQ VF35 Barber Quarters
Morgans, $5, $10, $20 Gold Eagles.
Seriously! ...even more so VF30
I can’t argue with that but some of the offers I got in that scenario…….selling to shops. However walking out with cash from a shop in event of emergency it is what it is. I have done that and while it’s gut wrenching it had to be done. I would recommend an investment strategy averse to huge amounts.
I believe any attractive problem free graded Trade $1 is quite liquid.