Seems like a lot more "Reserves" on E-Bay Coin Auctions Than 1Year Ago...
OneCent
Posts: 3,561 ✭
Anyone else notice?
Perhaps the "irrational exuberance" has waned?
Perhaps the "irrational exuberance" has waned?
Collector of Early 20th Century U.S. Coinage.
ANA Member R-3147111
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Comments
<< <i>I'm not getting the connection between placing a reserve on a coin and "irrational exuberance". >>
Last year, seemingly, a lot of sellers chose to "ride" without a reserve. Nowadays, seemingly, there are alot more reserves.
The connection is that a year ago the market was such that a reserve was not needed because of a hyperinflated coin market.
Perhaps the jitters have set in, no?
Collector of Early 20th Century U.S. Coinage.
ANA Member R-3147111
Lets take a look at some examples from the past two weeks
1922 No D Lincoln PCGS F-12 (solid Fine, Smooth surfaces even brown color , good wheat definition) Sold at 910.00 GSB 1000.00
1909-s Indian 1c PCGS-10 Solid Vg+ coin, nice color way better than many I see on the market sold 430.00 GSB 440.00
1897-o Barber dime Raw-12 not quite 15, but original and problem free Sold 197.00 GSB 230.00
1885 Liberty Nickel Anacs-3 Low grade, bu tokay and original though Sold 174.00 GSB in Good is 470.00 (should have brought 225.00 or so)
1889-o Morgan $ ANACS-63 Nice original and lusterous (Would have graded 63 at PCGS as easily) Sold 185.00 GSB 315.00
1862 Three cent Anacs-58 (actually ANACS was tough on this coin and I should have sent to PCGS where it might have 61) Super original and nice Sold 126.00 Should have brought closer to 60 money at 160.00
1921-d WLH Raw-12 Nice and original Had been bringing strong pricing closer to trends even raw, sold for 5.00 over bid.
1915-P Barber Half Solid original Raw F-12 sold for around bid, should have easily brought more!!
A PCGS Vf-25 (a real 30) Capped Bust quarter (as nice and original eye-appealing coin you will ever see, sold at 438.00 ) just last year this same coin sold for 550.00. I had repurchased it from a customer who was selling out. I ended up losing money on this coin the second time around, the only thing I can say is that it went to another customer of mine from the Chicago area who has purchased significant items from me in the past, which made it a little easier to swallow!!!!
<< <i>I'm not getting the connection between placing a reserve on a coin and "irrational exuberance". >>
irrational exuberance= people (lots of them) wanting the same coin...and a bid war usually ensues, therefore the seller usually meets or exceeds his expected profit....so no reserve.
in tougher economic times there are fewer bid warriors and demand is down...so values go down......HOWEVER!......the seller is conscience
of the fact that he doesn't want to lose money on the coin because values are down, or he may be "buried" in the coin financially speaking.
...introducing the "reserve"....now if you want it, you'll pay what the seller feels is a "live with" price. (no bargains here folks)
<< <i>If anyone knows, is the (eBay) market for other collectibles also softening? Or is is mainly coins thus far? >>
Not sure but the currency market is showing signs of slowing down as well. The Lyn Knight currency auction held early last week was
lackluster overall.
I think a number of people are spooked over the subprime mess, stock market jitters, high gas prices and overall uncertainty over the direction of the economy and are pulling back on leisure time hobby spending.
<< <i>
<< <i>I'm not getting the connection between placing a reserve on a coin and "irrational exuberance". >>
Last year, seemingly, a lot of sellers chose to "ride" without a reserve. Nowadays, seemingly, there are alot more reserves.
The connection is that a year ago the market was such that a reserve was not needed because of a hyperinflated coin market.
Perhaps the jitters have set in, no?
I keep seeing that graph here, which suggests that coin values are plummeting. Of course, if you look at the scale (namely the y-axis) and do the math, the sharp decline in index over the past year amounts to a drop of a whopping 3.6%.
This isn't the time to own coins with problems.
dimes and not finding any. I've since cooled my jets on circ Barbers.
The ANACS coins don't surprise me. I saw what appeared to be a perfectly acceptable MS64 ANACS $20 Liberty bring a paltry $975 on ebay this past week. I was the underbidder. That coin only brought only MS 63 wholesale money! And in 80% of the times, it would probably meet PCGS 64 standards. I would have paid $1100-$1200 for the coin but just didn't want to take any risk via ebay since the photo was not good enough. My conclusion is that ANACS coins just don't bring the bucks no matter how nice they really are. Still, I continue to put bids in on ebay and continue to win nothing. Regardless of what I bid, someone else is always willing to go $10 or $25 higher. And surprisingly, I'm usually the underbidder! This was not the case a year ago when I was typically blown away on most lots I had passing interest in.
Not knowing where the market is headed, in the past 6 weeks I've shifted more emphasis back towards generic gold and less towards classic US silver coins. The timing was lucky more than anything.
If outside money is still looking at coins as a haven in this staginflation environment they will be looking at gold coins and the cream of the classics.
roadrunner
Anyway, We are carrying in boxes of dolls into his back storgae area and its absolutely packed wall to wall , wall to cieling with everything from DVDs, TV's electronics, games, tools, gumball machines, airconditioners, sports memorbilia , jewelry, glassware, collectibles,etc (you get the point)
He said everyone in town is bringing stuff in by the truck load to sell becuase they are really in need of money, the problem is he said" E-bay sales for general merchandise has been so slow that most items listed are not selling or selling way light of what they were 4 months ago"
jim