How dead is the coin market?

seateddime · January 26, 2009 11:39AM

I see a lot of reduced coins in the BST, how dead are things?

Edscoin · January 26, 2009 12:00PM

<< I see a lot of reduced coins in the BST, how dead are things? >>

GraveYard Dead.

AnkurJ · January 26, 2009 12:00PM

BST is slow, yes. But I dont think that defines the entire market.

clw54 · January 26, 2009 12:02PM

Coins are overpriced in the first place. It's about time they come down.

ChrisRx · January 26, 2009 12:03PM

dizzyfoxx · January 26, 2009 12:05PM

<<

>>

Classic!

IGWT · January 26, 2009 12:08PM

Clicked on a dealer's website for the market report and was routed to www.doornail.com.

2ndCharter · January 26, 2009 12:20PM

That's funny - I clicked on several dealers' web sites and their prices haven't budged. Is that because they're dead or nobody told them the market was dead?

Walmann · January 26, 2009 12:37PM

Compared to stamps the coin market is bouncing off the wall.

Stamps BST: This category does not contain any threads.

stman · January 26, 2009 12:37PM

<< That's funny - I clicked on several dealers' web sites and their prices haven't budged. Is that because they're dead or nobody told them the market was dead? >>

Not true

One dealer that has a habit of bumping up price 40%...... offered to knock off 4% for me. (Of course this has always been the case)

RYK · January 26, 2009 12:40PM

Hardly dead. I purchased two coins yesterday. They cost me a grand total of about $30. (In the old days, I spent more than that on postage.

)

ACactions · January 26, 2009 12:46PM

Dead? I think the answer that has applied for the last 6 months still applies- PQ coins and High end grades still sell- The coins that are slowing are the Average for the grade MS 61-64 coins of common series'- Example- Franklins, Washingtons, Buffalo Nickels etc etc-

If you are liquid you are getting buying opportunities- If you are selling; it is a tough market. Liquidity is the major issue right now- People are afraid of everything right now-

They thought their 401K was safe
They thought their house was safe
They thought their madoff investments were safe
They thought.....

No one wants to get caught in the next thing to go belly up- Be it coins, currency, or ??

Coin market dead? I think there is significantly more caution when buying- When the headlines are 71K jobs cut today it elicits fear-

Fear rules right now.

IMHO common coins will get killed right now if you have to sell. If you collect a limited set i.e. capped bust half dimes, FS Jeffersons, MPL's etc then I think you will get strong money for PQ examples...

But hell I am still new to this- This is by far the worst economic conditions that I have dealt with in my life-

Good Luck and protect your ass-ets.

John

Bear · January 26, 2009 12:50PM

The coin market has slowed but can still be described

as an active market. Some aspects of the market ere

extremely soft but that by itself is not particularly unusual.

Now, having said that, there is a growing perception of

concern as to the future direction of the coin market. As the

general economy deteriorates, it is bound to have an impact

on the coin market. This impact could be a continuing and

l downward bias, or could be an abrupt drop off in activity.

Only time itself, will give us the answer.

Until we know, all collectors and dealers can do is secure lines of credit,

reduce overhead and non essential expenses. Both must lower expectations

as to pricing to sell unwanted parts of a collection or stale inventory in order

to free up capital. Marginal coins for every grade must be reduced in coast and

collectors in particular must demand that coins be all there for the grade before

they buy.

Nothing is ever as bad as we may fear, nor as good as we may hope. Being for warned

and self prepared, we should be able to weather the storm even though it may be a

difficult and trying time.

mrearlygold · January 26, 2009 12:51PM

YOU think the BST is a reflection of the coin market? LOL. Sorry to be rude but the BST is meaningless in relation to the coin market. It's certainly a nice thing to have and I've been using it for years, met some good people thru it and have purchased more than a million dollars in coins because of it but to call it a reflection of the coin business isn't appropriate.

The market Dead? I have a multi-million dollar want list on the BST board here. That represents only a portion of what I can use right now. By a portion I mean less than 25% of what I can use. That's hardly dead.

That does not mean that I'll pay stupid unreasonable money for coins just because I need them. Many civilians make huge errors by purchasing coins based on an image and pay money that they think is a good price only to find out later that they're buried. I'm not mandrake the magician nor can I can't heal the sick. But I can pay fair money for coins and have a large want list for material and I'm interested right now in doing so. I can also pay lighting fast with wire transfers. This is not a dead market by any sense.

Is this market dead? Can you imagine the values of your coins dropping 90% and still not finding a buyer? It's happened. I cannot describe in words ( not nice words anyway

) what it's like but after living thru it I can tell you this market is just fine with me. Is a storm coming? I think so but neither you nor I not anyone here will be able to predict what day the market will be dead. But you'll know it.

We'll all know it.

Boom · January 26, 2009 1:17PM

The coin market is FAR from dead!

Quit saying or believing that it is

CAUSE IT'S NOT!

intence · January 26, 2009 1:18PM

i agree it may slow down but far from dead

Barndog · January 26, 2009 1:19PM

dead for some things, lively for others. I am sure I paid more than any price guide recommends for this one and I'm happy to own it.

lkenefic · January 26, 2009 1:29PM

I think the current economic downturn has hit the coin market at all levels... some harder than others. The only part of the coin market holding its own recently seems to be bullion and you'de be sitting fairly well if you purchased pre-2005. However, I think the metals market is being driven by safe-haven buying and not necessarily intrinsic value. Once the stock market finds bottom, I think these people will re-invest and metals will return to something less than historic levels.

Coxe · January 26, 2009 1:33PM

I'll tell you after Long Beach. From what I see, there are a lot fewer nice coins I would want to acquire than in the past. I'd spend more if they were there. The occasional ones that do come forward in auction I am outbid one lately. So others are hungry for nice stuff. I think a lot of the market has to be dead or slow because of the economic circumstances of the retail side though.

Unknown · January 26, 2009 2:40PM

This content has been removed.

zeebob · January 26, 2009 2:47PM

Not dead. I just gave The Penny Lady money for an MS65RB 1864 1C BZ. I'll be excited to see it in a week or two.

Boom · January 26, 2009 3:00PM

Ladies. The skies maybe darkened with uncertainty and change but the Market isn't dead.

Some, as posted above, have not seen times such as these.... some of us have!

So - what's new about uncertainty and change? Not a thing.

Nothing has ever been "certain" - except Change.

The world is a crazy and dangerous place ... When hasn't it been?

If you've maxed yourselves out, living like there is no tomorrow - you're in for some MAJOR cutting back/ trimming the fat.

For those of us that have seen such cycles before (that turned out to be totally bogus - like the so-called Gasoline shortage of the late 70s/ early 80s - THERE WAS NO GAS SHORTAGE, AT ALL) It's Propeganda.

We've all lived the Grand Illusion. Who among us will be the next in line?

Just batten down the hatches and do what you've got to do.

Survival IS the #1 Human Emotion/ Instinct.

Bear · January 26, 2009 3:01PM

I know that the coin market is not dead

cause I saw it quiver and moan earlier today.

Boom · January 26, 2009 3:03PM

Wil2008 · January 26, 2009 3:37PM

Hi.

I sure love the fact that I am a small collector who collects for the pure enjoyment
of having those little treasure pieces.

I understand that the cost of your collection should always be considered, but for me, I
can care less about it. I buy the coin because I love to have a piece of history in my hands and they are so beautiful
to behold.

I will let whoever inherits my collection worry about the price..lol

With all the doom n gloom, and uncertainty, I sure wouldn't want to have to worry about coin prices, because with
the way the economy is heading, coins will have to readjust just like everything else...even the premium ones. They just wont loose value
as much as the not so premium ones.

Anyhow, good luck!!

Wil

PS.. I just picked up 4 beautifully toned morgan dollars from a BST member... Is it Christmas or what !!!!! LOL

291fifth · January 26, 2009 7:50PM

Is the market dead?

In order to know you will have to try to SELL a variety of items for CASH.

Liquidity is the real issue.

lkenefic · January 26, 2009 9:16PM

Sell as a dealer... or sell as a collector?

291fifth · January 26, 2009 9:21PM

<< Sell as a dealer... or sell as a collector? >>

As a collector.

ScarsdaleCoin · January 27, 2009 12:39AM

sure hit a bunch of collectors who came into the show this past weekend asking the moon for there several thousand dollar coins and not one offer from any dealer!

DRUNNER · January 27, 2009 12:48AM

I plan on finding out what is happening in the market this Friday/Saturday at a local 40-table show. It is a solid show with regional interest and quite a few dealers I've been buying and selling with for a few years. I am taking some nice Indians in higher grade, some keys (93-S dollar), and then some widgets. I'll post after Saturday night when I see what the dealers do. I mis-timed my desire to 'thin the herd', but we'll see what response I get . . .

Drunner

ziggy29 · January 27, 2009 12:51AM

I don't think it's dead except in relative terms, since we've become so accustomed to it being red hot for the last few years.

bidask · January 27, 2009 12:59AM

<< YOU think the BST is a reflection of the coin market? LOL. Sorry to be rude but the BST is meaningless in relation to the coin market. It's certainly a nice thing to have and I've been using it for years, met some good people thru it and have purchased more than a million dollars in coins because of it but to call it a reflection of the coin business isn't appropriate.

The market Dead? I have a multi-million dollar want list on the BST board here. That represents only a portion of what I can use right now. By a portion I mean less than 25% of what I can use. That's hardly dead.

That does not mean that I'll pay stupid unreasonable money for coins just because I need them. Many civilians make huge errors by purchasing coins based on an image and pay money that they think is a good price only to find out later that they're buried. I'm not mandrake the magician nor can I can't heal the sick. But I can pay fair money for coins and have a large want list for material and I'm interested right now in doing so. I can also pay lighting fast with wire transfers. This is not a dead market by any sense.

Is this market dead? Can you imagine the values of your coins dropping 90% and still not finding a buyer? It's happened. I cannot describe in words ( not nice words anyway

) what it's like but after living thru it I can tell you this market is just fine with me. Is a storm coming? I think so but neither you nor I not anyone here will be able to predict what day the market will be dead. But you'll know it.

We'll all know it. >>

I think down 50% would constitute dead.

leothelyon · January 27, 2009 2:43AM

<< Coins are overpriced in the first place. It's about time they come down. >>

I would really question a seller's ethics for lowering his prices. Like he wasn't ever trying to hook buyers into overpaying for his junk.

Leo

291fifth · January 27, 2009 2:52AM

<< sure hit a bunch of collectors who came into the show this past weekend asking the moon for there several thousand dollar coins and not one offer from any dealer! >>

Just think of how anxious those collectors are going to be to buy any more coins. This is the kind of thing that causes markets to contract with great speed.

ziggy29 · January 27, 2009 6:41AM

<< Just think of how anxious those collectors are going to be to buy any more coins. This is the kind of thing that causes markets to contract with great speed. >>

That and the increasingly pervasive attitude of "let's see... I can either spend $2000 on a coin or to pay all the bills for a month if I get laid off." Doesn't take long to reach a critical mass of panic to really accelerate the death spiral.

shorecoll · January 27, 2009 8:23AM

Wish I could pay all my bills with $2k a month

Bayard1908 · January 27, 2009 8:38AM

I'd say the market is a little sluggish or cautious, certainly not dead.

Longacre · January 27, 2009 8:38AM

The coin market is so yesterday, man.

mirabela · January 27, 2009 8:49AM

It's not dead. It's just changed. Coins in the $2 to $40 range have done very well for me recently. Believe it or not there are those who buy and sell these. Ebay has been hit or miss for any individual coin, i.e. an item that "should" sell for $7 sells for $2, while another that "should" sell for $4.50 closes for $19, but taken on the whole it's been at least OK. Between ebay, the BST, other online venues, and a few local guys, I've sold nearly 200 coins in the last month -- that's about 90% of the total transactions I've done in the last twelve -- and my margin has been pretty decent, really.

At the same time, I've been able to purchase some more expensive things in the $100 - $350 range for quite a bit less than they likely would have cost me a year or two back, mostly funded by proceeds from the aforementioned sales, and it seems like in this range some of the pressure is off.

Higher than that I don't really know, as it's been several years since I've bought or sold any single coin costing more than about $400.

Edit -- I also wanted to discuss this comment:

<< I would really question a seller's ethics for lowering his prices. Like he wasn't ever trying to hook buyers into overpaying for his junk. >>

I don't think that's a fair thing to say. It happens to us as collectors, too, that we might start off with a sense of what something is worth, but it just doesn't turn out there is anyone willing to pay it. So, we either have to lower our ask, or find the willing person, or keep the coin. The market is fickle. I can tell you there have been a number of times I've put a coin on the BST for X, then lowered it to X minus 10%, then to X minus 20%, with no takers -- and finally moved it to ebay where it closed for X + 80% or more. There have been times I've done the same thing and it finally closes on ebay for X - 80%. Sometimes you just don't know. I try to price a coin reasonably, but sometimes I'm shooting in the dark with regard to what "reasonable" is, especially with unusual pieces.

leothelyon · January 27, 2009 11:53AM

<< It's not dead. It's just changed. Coins in the $2 to $40 range have done very well for me recently. Believe it or not there are those who buy and sell these. Ebay has been hit or miss for any individual coin, i.e. an item that "should" sell for $7 sells for $2, while another that "should" sell for $4.50 closes for $19, but taken on the whole it's been at least OK. Between ebay, the BST, other online venues, and a few local guys, I've sold nearly 200 coins in the last month -- that's about 90% of the total transactions I've done in the last twelve -- and my margin has been pretty decent, really.

At the same time, I've been able to purchase some more expensive things in the $100 - $350 range for quite a bit less than they likely would have cost me a year or two back, mostly funded by proceeds from the aforementioned sales, and it seems like in this range some of the pressure is off.

Higher than that I don't really know, as it's been several years since I've bought or sold any single coin costing more than about $400.

Edit -- I also wanted to discuss this comment:

<< I would really question a seller's ethics for lowering his prices. Like he wasn't ever trying to hook buyers into overpaying for his junk. >>

I don't think that's a fair thing to say. It happens to us as collectors, too, that we might start off with a sense of what something is worth, but it just doesn't turn out there is anyone willing to pay it. So, we either have to lower our ask, or find the willing person, or keep the coin. The market is fickle. I can tell you there have been a number of times I've put a coin on the BST for X, then lowered it to X minus 10%, then to X minus 20%, with no takers -- and finally moved it to ebay where it closed for X + 80% or more. There have been times I've done the same thing and it finally closes on ebay for X - 80%. Sometimes you just don't know. I try to price a coin reasonably, but sometimes I'm shooting in the dark with regard to what "reasonable" is, especially with unusual pieces. >>

Speculators drove the prices up on many coins/series, same reason why we were stuck buying gas at $5/gal. The registries caused most of the inflated prices and the dealers would follow suit. I cannot tell you how many times I have approached a dealer for a certain coin but couldn't buy it due to the rediculous prices. I do not pity any of them.....buyers or sellers! But yet, I have always been a buyer for the right coin for the right price that has not been influenced by unwitty speculators. Yes, there's a lesson to be learned here and just about every true collector will hammer that home with their unwavering usual buying habits.
It's unlikely true collectors will bail out any of those greedy people.

Leo

FullStrike · January 27, 2009 12:06PM

The US Mint has no complaints. Their stuff is selling great - especially those Direct Ship Coins.

leothelyon · January 27, 2009 12:22PM

<< I know that the coin market is not dead

cause I saw it quiver and moan earlier today.

>>

Did your v----- kick in this morning?

Leo

Bear · January 27, 2009 12:25PM

7Jaguars · January 28, 2009 1:47AM

As has been alluded to elsewhere, this economy is overall not in the best of health but seems to affect certain areas almost like a sinking ship where your compartment is isolated from flooding in the next until the pressure door to your compartment blows and then yours is flooded; I mean people blithely go with all being well until it is not.

I think that is the analogy for the coin market and why the premium coins still sell for prices they do - not enough of the wealthy folks compartments have been blown to yet affect these segments.

One segment that is an example is of course the late issue (2006-08) plat and gold issues by the US Mint - the sales seemingly are fueled almost entirely by flippers but the "common collector" (whoever they/we are) demand seems to be falling away. Collateral damage then is reflected in the allied First Spouse issues.

I guess we will have to wait and see how many of the Big Boy Compartments get flooded to see when the premium coins and their prices are affected...

RYK · January 28, 2009 1:49AM

So long as I am looking to acquire coins, and as of this morning I still am, the market is far from dead to me.

tcmitssr · January 28, 2009 4:58AM

I don't think it's dead as much as everyone, buyers and sellers, are more cautious given the overall economy. We're thinking twice, maybe three times before pulling the trigger on major purchases or submission levels for grading fees.

FullStrike · February 2, 2009 1:36AM

Ford this AM is selling at $1.90 , GM is at $2.96, Harley Davidson is at $11.99.

Gives them slabbed State Quarters a serious competitor for spare dollars eh?

How dead is the coin market?

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The more qualities observed in a coin, the more desirable that coin becomes!

My Jefferson Nickel Collection

The more qualities observed in a coin, the more desirable that coin becomes!

My Jefferson Nickel Collection

The more qualities observed in a coin, the more desirable that coin becomes!

My Jefferson Nickel Collection

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