Common GSA CCs are over-hyped...&

KollectorKing · November 19, 2003 1:43AM

over priced at this price level. They were selling for $45-$50 each, and hardly anyone was buying. Now the market is flooded w/them and they have tripled and yet people are buying...typical "herd" mentality, or?

nwcs · November 19, 2003 1:46AM

Specify which GSA dollars were selling in the $45 to $50 range and when. Also specify whether you are referring to slabbed ones, ones in original holders, or ones with all documentation and box.

kieferscoins · November 19, 2003 1:47AM

You're wrong. Flooded market? Not at all. They sold all of them 20+ years ago and demand for them are stronger today then back then.

Cameron Kiefer

Tassa · November 19, 2003 1:54AM

<< <i>Common GSA CCs are over-hyped...&
over priced at this price level. They were selling for $45-$50 each, and hardly anyone was buying. Now the market is flooded w/them and they have tripled and yet people are buying...typical "herd" mentality, or? >>

I disagree.

kieferscoins · November 19, 2003 1:56AM

How many are you going to sell below greysheet since they are "overpriced"?

Cameron Kiefer

KollectorKing · November 19, 2003 1:59AM

nwc -

The so-called common ones are 82-84. They were selling for $45-$50 in the mid to late 90s. How do I know? Because I went around coin shows in the SoCal area and bought over 100 of them and have since sold them to GSA Guy, Shelby Unger, and John McIntosh last year.

KollectorKing · November 19, 2003 2:05AM

now the next question is, if you sold over 100 GSA so called common "over priced" and "over-hyped" CC Morgans what did you do w/the proceeds?

simple, I bought:

- an NGC AU50 89-CC Morgan from Sheby Unger,
- a PCGS MS63 93-CC Morgan from McIntosh,

and still have money left over for other goodies.

JMOORE · November 19, 2003 2:09AM

RNCHSN · November 19, 2003 2:18AM

I'll take all you have at $50 each! Then you won't have to worry about selling them at inflated prices! LOL!

Outhaul · November 19, 2003 2:19AM

$45 - $50...in the mid/late 90's. Well, if you check your calendar it's no longer the 90's and the 90's prices are gone. I bought a few back then for the price you stated. The demand was not that strong for them as I recall. However, times change and demand changes. Just as it could for any other coin, demand could bottom out just as easily as it increases. We may be buying these again for 90's prices. But if the trend continues you'll likely see further increases due to a rise in demand.

BTW...I recall there being just as many on the market then as now. The only difference between then and now is exposure. With the advent of the internet you don't have to have a local dealer to get into numismatics. The internet and online auctions have exposed collecting to an entire generation of new collectors.

Let's see...you used to be able to buy a 1955/55 for $50, double eagles (St's & Libs) for $30, etc... As a matter of fact, I was perusing an old B. Max Mehl catalog last night that listed a 1913 Liberty nickel for $50.00! My my...times do change.

Just my eversohumble opinion.

Cheers,

Bob

Tassa · November 19, 2003 2:42AM

Well said Bob.

Another reason I don't think that they are overhyped and overpriced is because there are only a limited number of them. True, the number of common date GSA's may be relatively high, but there aren't going to be anymore released in the same way. Also, who knows how many have been cracked out of the GSA holders to be submitted to various grading companies.

paigowjohnny · November 19, 2003 3:36AM

All CCs are going to the moon right now...just look at what an 89-CC in VF20 has done on the gray shhets and trends over the past years.
I also think the NGC certification of GSAs in slab has renewed some interest in them.

KollectorKing · November 19, 2003 4:03AM

like everything else in life, things go in cycles...what goes up will come down...and what was down will be up...I was lucky enough to get in during the mid to 90s to acquire quite a few of 91-92 CCs, and recently (02 and early 03), a few 93-CCs. Now, I'm out of the CC market, period....well...maybe...perhaps...

if AU55, AU58 do appear, then I might be back in again

AquilaRose · November 19, 2003 4:10AM

I don't think they are over-hyped. It's a very unique item with unique packaging and they have historical backgrounds in different areas. You could also say that these coins come with a sort of provenance in that it is pretty much assured these coins have not been doctored or messed with in the past few decades. The prices sure did jump over the last few years though. You can't compare prices of GSA holdered coins with raw or slabbed CC's even if they are GSAs. I think they also provide collectors with a short set of morgans to collect. Meaning that you can satisfy a need to collect Morgans, keep the set short, and maintain good value retention. I love these coins. I have a set myself.

Common GSA CCs are over-hyped...&

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Common GSA CCs are over-hyped...&amp;

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Common GSA CCs are over-hyped...&