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Are sellers repricing their common date certified silver coins?
logger7
Posts: 9,705 ✭✭✭✭✭
I've just been trying to move out a lot of my inventory. Unless a common date Morgan or Peace dollar achieves an MS65 grade would certification even be warranted? The strongest interest now seems to be low risk silver coins priced at or a little above the price of silver. Clearly "price fixing" is not right, but what should sellers do now on pricing their material to maximize their profits?
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Well it’s up to the sellers to analyze cost plus in order for the price necessary to keep the business afloat. If BV puts it in the green…,.I could be game to move it.
I don’t doubt the junk silver players may price their stuff some small pct above melt.
But on quality slabbed numismatic stuff I reference CDN CPG and may adjust price up as needed. If the coin is CACG WitterBrick (WB tackon) it may have a premium for that even. Are Sellers going to sell a 63 or 64 at 60 money? I could see myself blowing out a C coin for that if BV floating my boat. Up to them. Many sending stuff in for grading then add slab cost to the inventory cost of the coin or banknote then just mark it up accordingly.
It is up to sellers to markup their inventory accordingly to have a shot at staying afloat. Price Guides just that, a guide.
Certainly 63 and lower would not be. Most 64s also probably aren't. And we're probably $30 or so on the spot price away from 65s not being worth it.
Interesting times.
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Yes - as the mkt gets higher. My strategy keep repricing in tandem as say BV or CPG MV gets higher. You don’t want to get behind on that and then somebody picks you off.
Strong sales last couple of months. Talk about a bull market.
Many players repricing remaining bullion material up in anticipation of going up higher. Twice I have repriced material up once it got too cheap vs BV. Jim says he raises prices every couple of weeks ,bull market strategy so get all the money when it peaks.
I picked up a roll of choice BU 1904-o Morgans for $65 each yesterday with a bunch of other somewhat better dates in Unc. for $70 each. One of the largest wholesale buyers in the Boston area, "Pilgrim" is not buying Morgans at this time. Many dealers are creatures of habit relying on what's worked in the past. Silver trippling over the last year is unprecedented and hard to fathom and figure out what a reasonable market is to buy/sell.
The LCS I shop at reprices with every buy. He uses current spot price and then tells how much it will cost you above that.
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
One of the local shops is owed mid 7 figures for prior bullion sales and has suspended buying. The wholesaler is owed money from the refiner and so hasn't been paying the shop. It's a very strange set of circumstances.
All comments reflect the opinion of the author, even when irrefutably accurate.