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Why Are there So Many Poor Quality Coins On the Market?
CalGold
Posts: 2,608 ✭✭
A. The Grading Services Have Been Over Emphasizing Luster and Penalizing Originality
B. The Grading Services Have Been Too Tight—No Body Wants to Sell Undergraded Coins, So Nice Coins Are Being Withheld from the Market
C. The Grading Services Have Been Swamped With Submissions—Even if they Overgrade Only 5% of the Submissions, that 5% Adds Up Quickly
D. The Nicest Coins Have Been Bought Up During the Surge in Collecting Over the Past 5 Years
E. Some of the Above
F. All the Above
G. None of the Above—The Complaints Are from Dealers Trying to Dissuade Collectors From Buying at Auctions.
H. Its Part of an Illuminati Conspiracy
B. The Grading Services Have Been Too Tight—No Body Wants to Sell Undergraded Coins, So Nice Coins Are Being Withheld from the Market
C. The Grading Services Have Been Swamped With Submissions—Even if they Overgrade Only 5% of the Submissions, that 5% Adds Up Quickly
D. The Nicest Coins Have Been Bought Up During the Surge in Collecting Over the Past 5 Years
E. Some of the Above
F. All the Above
G. None of the Above—The Complaints Are from Dealers Trying to Dissuade Collectors From Buying at Auctions.
H. Its Part of an Illuminati Conspiracy
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Comments
<< <i>Because nobody wants them and they getting recycled. >>
This has my vote
It is much like a slag heap as high as a mountain. It ties up critical
capital and artificially lowers the value of decent, lower grade coins.
Just wish we could take all of those silver trash coins and melt them down
for bullion. At least then, they would be worth something.
Camelot
I knew it would happen.
<< <i>G. None of the Above—The Complaints Are from Dealers Trying to Dissuade Collectors From Buying at Auctions. >>
I always get a kick out of this line of reasoning -
Who do you think are the biggest consignors to auctions?
-David
Camelot
herd does. On the other hand what stops a collector from consigning
to auction? Nothing. Except maybe the 5% or so it cost if your coin
doesn't sell. Well, just thoughts.
<< <i>The overhang of unsellable coins, is increasing every year.
It is much like a slag heap as high as a mountain. It ties up critical
capital and artificially lowers the value of decent, lower grade coins.
Just wish we could take all of those silver trash coins and melt them down
for bullion. At least then, they would be worth something. >>
Can't increase - they're not minting any more.
Do you mean "unsellable coins" as "overgraded POS coins entombed in plastic"?
Then I might agree with you.
I'm all for melting crap - I think you will see it happen naturally when silver goes over $50.00/ oz.
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
President, Racine Numismatic Society 2013-2014; Variety Resource Dimes; See 6/8/12 CDN for my article on Winged Liberty Dimes; Ebay
<< <i>One of the dealers I visted yesterday said he want to buy stuff, but not too many people are selling right now. >>
This may be true, but at what price?
<< <i>
<< <i>The overhang of unsellable coins, is increasing every year.
It is much like a slag heap as high as a mountain. It ties up critical
capital and artificially lowers the value of decent, lower grade coins.
Just wish we could take all of those silver trash coins and melt them down
for bullion. At least then, they would be worth something. >>
Can't increase - they're not minting any more.
Do you mean "unsellable coins" as "overgraded POS coins entombed in plastic"?
Then I might agree with you.
I'm all for melting crap - I think you will see it happen naturally when silver goes over $50.00/ oz. >>
Sure they can increase. With every round of resubmits there are more maxed out coins that no knowledgeable collector wants unless they are deeply discounted Some dealers will not budge an inch on price even though they might have personally sent it in 10 times to max out the coin and know full well it is a dog coin at the new grade.
Also with every NCS or other "conservation" job there is one less original coin on the market. Some folks like these, some will not touch these "gems."
It's The Kool Aid Syndrome
<< <i>What are some of the more controversial things that NCS does to conserve coins? >>
In my mind it is not so much what they do, but that so many customers send in coins to NCS that look just fine and would slab and sell at good price without any enhancement. NCS makes them look "better" and often the grade gets a bump up. Many old time collectors will not knowingly buy these conserved pieces.