Just how is YOUR market doing?
291fifth
Posts: 25,169 ✭✭✭✭✭
Let's hear some SPECIFIC comments on the state of the various coin market segments that you are currently active in. 1. Define your area. 2. Base comments on actual transactions.
My feelings:
US Large Cents in high circulated grades, by date, not Sheldon or Newcomb number: Solid but unspectacular. The dates before 1815 do better than the later dates.
Exonumia after 1960 including Gallery Mint copies: Soft to Very Soft.
Ancient Roman Coins, Roman Republic in high circulated grades: Somewhat soft.
Ancient Roman Coins, Imperial from Nerva thru Diocletian (no rare emperors) in high circulated grades: Somewhat Soft to Very Soft.
These comments are based on my own limited but actual experience since last Fall.
How is your area doing? Is anything "Double Nuclear!"
My feelings:
US Large Cents in high circulated grades, by date, not Sheldon or Newcomb number: Solid but unspectacular. The dates before 1815 do better than the later dates.
Exonumia after 1960 including Gallery Mint copies: Soft to Very Soft.
Ancient Roman Coins, Roman Republic in high circulated grades: Somewhat soft.
Ancient Roman Coins, Imperial from Nerva thru Diocletian (no rare emperors) in high circulated grades: Somewhat Soft to Very Soft.
These comments are based on my own limited but actual experience since last Fall.
How is your area doing? Is anything "Double Nuclear!"
All glory is fleeting.
0
Comments
I collect type, MS Washingtons, and MS/FT Roosevelts. All/mostly raw. Chicago area
Type- if it's a slightly scarcer variety or neat coin in some way--solid,average market
MS Wash. Rare or scarce dates-good to solid, otherwise average to soft
Roosie's- unless they're registry coins,-average to soft (but that's OK, I'm not done buying yet!
Just my takes..........
Interest is still growing robustly from an almost zero base in 1999. Most of the price in-
creases are confined to the very high grades and high circulated grades. While some of
these increases have been extremely dramatic, most are firm now but not advancing.
It appears that more collectors are seeking nice choice coins rather than gems and none
of these is truly scarce or tough in this grade. While some like the '83-P isn't common in
MS-63, there still some 20,000 in this condition and the number of collectors is still not this
great. There was apparently at least some speculation in getting the price to this level and
supplies are still be worked off.
Many of the varieties have been strong recently but some have still never really been affected.
Demand is continuing to grow rapidly so there is likely to be another explosive increase unless
this demand increase is derailed.
Registry grade proof Lincolns in RD are toppy. Cams are solid. DCAMs are not stopping.
Low grades look to have a smaller market. Finding the buyer is key.
Registry grade proof Jefferson continue to be strong. Have seen a couple of instances of coins slipping through auction (mainly in EBay at low prices if it's during a major sports event). Same coin sold later brought the right money. Cameos are strong at all levels.
Will see with registry grade proof Roosevelts. 1950 PR68Cam at auction with Heritage now. Second tier coins are solid. Toned coins are continuing to bring premiums.
Have sold only one registry grade Washie recently to a board member. Didn't really test the market, just offered to fill a need. Availability is infrequent in the open market.
Cameo Franklins are strong relative to a year ago. I just raised the price on a third tier coin on EBay seeing the strength.
People starting, expanding or upgrading registry sets seem to be the key.
(Definitions: Registry grade pop = top pop Ex: 1956 Franklin PR69DCam;
Second Tier = coins just a level to 1.5 levels down Ex: 1956 PR68DCam;
Third tier = Ex: 1956 PR67Cam or PR 68.)
Link to 1950 - 1964 Proof Registry Set
1938 - 1964 Proof Jeffersons w/ Varieties
I also buy World Coins but have very little knowledge about how they are doing market wise. I do get outbid about 95% of the time. I have only sold one World Coin and it was a disaster. It went for 1 cent on Ebay....
Ken
1) 1794 large Cents in EAC choice XF to Gem Unc. I have not been able to buy one in the last 2 or 3 years. But, boy am I glad I bought a lot of these from 1992 to 2001!
2) Gem Middle Date large Cents. These too have shot up significantly from just a few years ago. I have been able to buy a few of these in the past few years, Occasionally you can still find a really good deal on these.
3) Monster color Gem Proof Indian Cents. Long gone are the days when you could pick up raw beautiful iridescently colored gems for $300.00 to 500.00 at every large show. These have exploded in price, especially the superb gems( PCGS PR 67BN or RB ) with A+ color. A wonderful Gem in PCGS PR67BN just sold retail for $5000.00.
4) Original rainbow iridescent bag toned Morgan Dollars in gem to superb gem. These were never really cheap with A+ color, but they have shot up significantly in price over the last few years. A 67 coin with A or A+ color is now a $3000.00 to $10000.00 coin!!
5) Gem proof type, primarily 19th century, preferably with monster color. Good Luck! Most of these have been bringing moon money for the past few years. You need to be in the right place at the right time to pick off these at anywhere near reasonable prices.
I still have a blast at the larger shows, just looking at what is available and occasionally being able to buy something really nice at a price that is somewhere within the realm of reason. Plus, selling anything of high quality is much easier than it was in the mid and late 90s. TomT.
Check out some of my 1794 Large Cents on www.coingallery.org
But the biggest change I've seen lately is the prices of Lincoln Cents just about everywhere. And and I don't mean just the top grades either. Prices for the first time in a long time around here are actually higher than Red Book.
Having trouble upgrading Buffalo Nickel collection for a decent price.
Just about gave up on Liberty head Nickels for the same price reason
One or two more coin shows and if no 55dd lincoln for a decent price, I'll just put book 1 away for ever.
I only follow AU & higher coins, so I can't give any idea on the circulated coins when it comes to the walkers. The teens, twenties & hard to find thirties in high grades seem to be the hot spots right now and are pulling what I think is a premium. AU teens are topping the PCGS price guide in many instances as I guess the average collector sees this as the only thing they can afford in this section of the series and they are willing to outbid each other for these coins that are not often found on the market. The 40's are definitely languishing when it comes to 65's and the 66's/67's are not doing any better. Every opportunity I can I am upgrading my 65's to 66's when the coin merits it. I picked up a 1946S in 66 tonight for 50% of the PCGS price guide when it was more like 65% a few months ago. The mystical 1940's "S" mints are not bringing any where near the premium they did a few months ago. The 30's are holding their own and some large sellers are now asking a premium for some of the mid-range hard to find coins(37S in particular). The real hot spots in the 30's are the 1933S, 1935D & 1935S in 65 & above. Holes filled in registry sets I have to assume.
Bottom line is markets must hold these levels or will be down another 10% before end of year.
Knowledge is the enemy of fear
Seeing jdimmick's comments about ebay below, let me add -- it's damn hard to get even reasonable money for a nice raw coin there anymore, with people so often burned by scammers and scumbags! I got KILLED on my couple of auctions that closed Sunday night -- a raw MS62-ish semi-PL Morgan, very pretty coin, closed at TEN BUCKS and a borderline GEM 79-S closed at TWENTY-FIVE!!!! My pictures weren't bad, either! I've NEVER had that happen to me before.
The truly scarce coins, that are very nice for the grade, market fresh, graded by a top tier TPG that in-frequently come available and mostly via only by auctions are still bringing incredibly strong prices at times. Coins like: Seated coinage, PQ early gold, PQ early Type, Scarcer CC dimes, quarters, halves. Fresh pedigreed coinage , etc.
One area that I see a change in, is E-bay sales of raw coinage, whether it be type or Key coins. I occasionally sell coins on e-bay and have started to note a slowing down of aggresive buying of everything, and a lot more selective buyers now here as well. Some of this may be demand being met with supply, but also from all the years of people getting burned on overgraded, and problem coins. Most folks do not trust raw coins on e-bay and ""for good reason."" I have recently had to change my buying philosphy for buying coins for re-sale and only buy when I can get them cheap enough, when factoring in e-bay cost, certification fee's, etc. Also note that PCGS coins still seem to sell the strongest compared to any other service in most cases. It has even got to the point that its not worth the 30.00 a coin to send to NGC, becuase PCGS brings stronger money and most coins in ANACS holders will sell as well as any NGC, and the service is cheaper per coin and faster at turn around times.
jim
Circulated stuff is stale. Mint state is rising. High grade mint state is off the chart from two years ago. PLEASE STOP!!!
One area that I see a change in, is E-bay sales of raw coinage, whether it be type or Key coins. I occasionally sell coins on e-bay and have started to note a slowing down of aggresive buying of everything, and a lot more selective buyers now here as well. Some of this may be demand being met with supply, but also from all the years of people getting burned on overgraded, and problem coins. Most folks do not trust raw coins on e-bay and ""for good reason.""
Have to fully agree on that point. I just picked up a 1932-S Wash. AU 50-53 raw but from a very conservative, trusted grader/dealer for under AU bid and a 1927-S SLQ F-18/VF-20 for $63.
These series have not really moved in the past 5 years and should be somewhat protected
in any downturn. For the rest of the year, I plan to lay low and cease buying. Paying down all debt
and building cash reserves is now the order of the day.
Camelot
Haven't read every post but,my market is doing good.
I do Bust Dollars.
Not selling, still buying.
Brian
I see quite a few people just getting into what I'm getting OUT of after so many years.
Tom
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
MERCURY DIMES
There has been a noticeable upsurge of more interest last few years with this series . Merc's are hugely popular and lovable - I'd say they still are behind however in price v/s other popular series imho. There is alot of room to move up still, and that holds true for the entire series except of course for the 16-D which has a life of it's own
The super eye appeal, and examples with true original preservation are just not to be found. When they are offered they are either pre-sold within days if not hours etc. Such examples at major auctions do very well. The examples seen at auction or Ebay with sub-par prices realized are mediocre examples if not less - which really hold true for the hobby as a whole.
The full bands are way more popular than the non FB's - only b/c they are tougher to find, and not overly difficult to find...other than pricier of course. Prices have increased in MS well over 100% in many dates from 10-15 years ago while the non FB's seems to have devalued over the years.
Marc
Scary stuff going on in the economy at large. I think people are coming into coins and other collectibles now because there're so few other places to hide.
As a result, I'm presuming prices for these quality coins are not going to soften any time soon.
Here's a warning parable for coin collectors...
Jim
Down since people are cutting back on their travel.
This gasoline cost situation could be very bullish for coins. The internet has been a lifesaver for the hobby.
I see the younger generation after a binge with other things, coming to coins in droves. Also we will be more "stay at home" than before.
Long term: very strong and liquid.
Specifics: California fractionals. The market is very solid and steady after some big ups and a mild correction after the huge 2004 Roe sale. Larger sized cal fractionals (50c and $1) in MS-65 or better (MS-66 or better in 25c size) are flying off the shelves. Dealers cannot keep them in stock long enough. Supplies are very thin but is still a small collector market. The type I (1853-1856 era) seems to be slightly soft in lower grades.
Seems to me that the market for most of them is pretty stable with one exception: Toned. Toned proof indians go for big money and don't stay around in inventories.
Knowledge is the enemy of fear