I've noticed a STEEP decline in auction prices lately. Is this normal for this time of year?

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p8nt
p8nt Posts: 2,947 ✭✭✭
in U.S. Coin Forum
The last 3 weeks or so, everything on Ebay seems to be going cheaply. Fletcher made a post about the lack of high quality Morgans anymore. I am noticing a decline in prices on just about everything. Is this normal for this time of year or is the market just settling down? I'd also be interested in knowing if you are seeing anything along these lines...

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  • roadrunner
    roadrunner Posts: 28,374 ✭✭✭✭✭
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    It depends on the quality of the coin. Many auctions are now laced with conserved retreads that no one really wants, even close to or below bid levels. When the nice orig stuff hits, that always brings the price. For every nice coin in a typical auction, I see 4-6 so-so ones.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • jsturman31
    jsturman31 Posts: 177
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    I've always read/heard here that summer does that to the coin market on ebay for sure.

    Jj
  • Barndog
    Barndog Posts: 20,529 ✭✭✭✭✭
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    I just sold some bust dimes and quarters in the last month and got stronger than usual and stronger than expected prices. I was blown away by some of the prices
    JR Newsletter Online Edition
  • Fletcher
    Fletcher Posts: 3,294 ✭
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    As I said before, I sure see it. And not only with eBay now. I had a whole bunch of surprising lowball bid wins in the recent Heritage auction as well. The good news is, I have been able to pick up quite a few hard to find coins in the last few weeks at great prices ... ie - an 1880-CC 8/7 rev 78 MS65, a MS63 tail bar, and the off-center Morgan error that I picked up last night. The quality Morgans are fewer and farther between, but when they do show up, noone else is bidding!!! I don't think we are heading for a crash here, just a minor correction. And, I think that the window of opportunity to score some great deals is going to be smaller than people think. Accordingly, I am loading up.

    I also find it interesting that it may be difficult for the dealers to keep up in that their websites seem to be lagging behind the market at present ... their online inventory is overpriced all of a sudden and not moving. And, in this coin market, as it was previously in the real estate market, the longer a coin is on the market, the harder it is to move ... regardless of the "eye appeal" or being "high end for the grade."

    Then again, I could be wrong image
  • p8nt
    p8nt Posts: 2,947 ✭✭✭
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    I know I personally was paying a minimum of $200 for a MS63* Battle Creek coin last month. I am watching them end on Ebay for $100 right now.
  • bestclser1
    bestclser1 Posts: 5,566 ✭✭✭
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    Most of the time the good stuff isnt making it to Ebay.High end sellers rarely use it unless its Legend etc.
    Great coins are not cheap,and cheap coins are not great!
  • mozin
    mozin Posts: 8,755 ✭✭✭
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    The ebay lot I bid on two weeks ago, I won at $100 less than my max. The rest of the auction house prices realized are continuing their upward spiral.
    I collect Capped Bust series by variety in PCGS AU/MS grades.
  • Oldgrump
    Oldgrump Posts: 119 ✭✭
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    I think it probably has something to do with the price of a gallon of gasimage Some people are having to cut corners and nice to have things are taking a back burner right now
    Steve
  • 291fifth
    291fifth Posts: 25,218 ✭✭✭✭✭
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    My gut feeling is that something negative has begun to happen in the coin market (and probably many other collectible markets as well). A large percentage of the collecting population is being pressed hard by increasing costs of health care, gas, and mortgage payments. The truly rich don't care but the other 99 percent of the population does.
    It's time for caution.
    All glory is fleeting.
  • IronmanDuke
    IronmanDuke Posts: 101 ✭✭
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    Also - Tax time was two weeks ago.
    For personal collecors - if you wrote a big check to the IRS, it takes some time to rebuild the war chest.

  • bestclser1
    bestclser1 Posts: 5,566 ✭✭✭
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    << <i>Also - Tax time was two weeks ago.
    For personal collecors - if you wrote a big check to the IRS, it takes some time to rebuild the war chest. >>

    Amenimage
    Great coins are not cheap,and cheap coins are not great!
  • morgannut2
    morgannut2 Posts: 4,293 ✭
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    << <i>My gut feeling is that something negative has begun to happen in the coin market (and probably many other collectible markets as well). A large percentage of the collecting population is being pressed hard by increasing costs of health care, gas, and mortgage payments. The truly rich don't care but the other 99 percent of the population does.
    It's time for caution. >>



    That is my opinion too. The buyers of the 1880O 7/8 rev 78 that Feltcher cites are getting squeezed big time on everything from taxes to the $120 to fill the truck just to commute to work. You add on $500-$900/month just to live and there's a lot of Morgan, Washington, Lincoln, etc. ordinary guys not so interested in bidding.image
    morgannut2
  • Fletcher
    Fletcher Posts: 3,294 ✭
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    Morgannut2 makes a good point. I guess that it is a good time to be a carpet-bagger image
  • Bear
    Bear Posts: 18,953 ✭✭✭
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    We are seeing a convergence of effect ripples. Some are acting to enhance

    effects and others are acting in opposition. A degree of confusion is impacting

    the current coin market.There are a handful of whales in the market chasing the

    mega coins and a larger number of investor opportunist types pouring their cash

    into whatever is being hyped to them as a good investment. Once again, the uninformed

    are being led down a primrose path. Conserved, marginal high grade coins are being loaded

    in peoples collections that will plummet in value the minute the decline begines. The average

    collector is becoming more conservative in their personal grading and in their ability or desire

    to chase the coins they want. A day of judgement is surely coming and only those with the knowlege

    and the dicipline to collect the best of any particular grade at a reasonable price will be economically intact.

    While their are as yet no clear sign posts marking the end, the frenzy of dealer to dealer sales, at ever highr prices

    have the look of the froth and over excited state of affaires that signal we are closer to the top then the bottom.

    Be careful out there, for it is my opinion, that folks are going to be hurt and hurt badly, in their coin purchases.
    There once was a place called
    Camelotimage
  • michael
    michael Posts: 9,524 ✭✭✭
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    around tax time everyone is cash tight along with sleezebays strong rep for fairplay and great coins makes this a bad month

    things will pick up in september
  • Fletcher
    Fletcher Posts: 3,294 ✭
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    It's the end of the world as we know it ... but I feel fine image
  • cullenbryant
    cullenbryant Posts: 1,794
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    anybody wonder if all of the asian fakes are taking a toll
  • Bochiman
    Bochiman Posts: 25,790 ✭✭✭✭✭
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    IMHO, it is what has been mentioned...

    Tax-time (luckily, I just got my first refund (though not much of one) in over 6 years)
    Gas price increase
    lack of quality
    Summertime starting up

    I hope that the coins actually take a downturn, though, I still see some of the areas I watch and want going for a bit more than I would hope image
    I'm ready to be a buyer of more than a few coins if the prices go down a bit.

    I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment

  • WANNABEDEALER
    WANNABEDEALER Posts: 156 ✭
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    This time of year always is slower, could it just be that it is tax time and people do not have the liquidity they should?
  • 291fifth
    291fifth Posts: 25,218 ✭✭✭✭✭
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    << <i>anybody wonder if all of the asian fakes are taking a toll >>



    They are a big part of the "scammer factor." Anything that shakes people's confidence in a market is a negative. The lack of action against the sellers of this type of trash just encourages the scammers to become more bold than ever.
    All glory is fleeting.
  • Russ
    Russ Posts: 48,514 ✭✭✭
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    It's the opposite for the stuff I hunt. It's all going for utterly stupid money.

    Russ, NCNE
    eBay consignment sales | | Collectibles from Resco CCC
  • Michigan
    Michigan Posts: 4,942 ✭
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    I was reading an article a few days ago on MSNBC's web site
    about how much spending power is taken out of a persons
    pocketbook by rising gas prices. It was rather scary, especially
    if you are living paycheck to paycheck. It will hit certain
    retailers bottom line pretty bad.
  • 291fifth
    291fifth Posts: 25,218 ✭✭✭✭✭
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    << <i>I was reading an article a few days ago on MSNBC's web site
    about how much spending power is taken out of a persons
    pocketbook by rising gas prices. It was rather scary, especially
    if you are living paycheck to paycheck. It will hit certain
    retailers bottom line pretty bad. >>



    I just had art/photography in two fairly major local shows. In one show with about 135 pieces shown (only one was mine) about five pieces sold. In the other, all photography, show with about 50 pieces shown (one mine), it didn't look like any sold.

    I suspect resturants are also feeling the pain.
    All glory is fleeting.
  • relayer
    relayer Posts: 10,570 ✭
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    When the temperatures rise and the days become longer, life becomes more interesting than coins.
    image
    My posts viewed image times
    since 8/1/6
  • Michigan
    Michigan Posts: 4,942 ✭
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    I suspect resturants are also feeling the pain.



    Depends on the kind of restaurant. The lower priced places like
    McDonalds, Wendys and Burger King are doing OK but the mid-level
    restaurants that cost more than just a few bucks such as Red Robbin, Chedders and Old Country Buffet are feeling the effects.

    I was at an Old Country Buffet about 2 weeks ago on a Friday
    night and they had a crowd that was about half of what it would
    normally be a year ago at that time.

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