As others have said, there are too many crappy coins out there to be taken off the market. Many dealers for years have been trying to mark this stuff up and sell it to suckers. The only difference now is that there aren't as many suckers buying this stuff. In other words, now, you need more than a coin encased in a first world slab to move it.
This is not a bear coin market. Those who have been through them know what I'm talking about. Hopefully, those who haven't won't find out.
"Vou invadir o Nordeste, "Seu cabra da peste, "Sou Mangueira......."
If it's gold, it's hot. This is where the coin market money is flowing.
Before Central States: The upper 1% of the numismatic coin market was on solid ground.
After Central States: The upper 1/10 of 1% of the numismatic coin market was on solid ground.
With the stock market seemingly coming back, money is going to start flowing out of the numismatic coin market.
Long Beach ... >>
RE: Stock Market seemingly coming back. Of course we could be caught in the eye of the Hurricane, lull of the storm, or a major dead cat bounce. I understand at least one major brokerage house is anticipating at least one more low in the not too distant future. >>
Why would anyone care what a brokerage house has to say about anything? Their credibility is zero.
Personally, I have no idea where the stock market is going in the near term.
<< <i>Why would anyone care what a brokerage house has to say about anything? Their credibility is zero.
Personally, I have no idea where the stock market is going in the near term. >>
I absolutely, totally agree with 291fifth on this one! >>
It's going to start raining crickets today.
Always took candy from strangers Didn't wanna get me no trade Never want to be like papa Working for the boss every night and day --"Happy", by the Rolling Stones (1972)
It seems like their are fewer buyers among collectors, or at least at certain price points, but it also seems like there are far fewer coin dealer 'market makers'.
This concerns me because when liquidity drys up ( fewer dealers buying coins outright) prices can fluctuate wildly especially on the downside.
I manage money. I earn money. I save money . I give away money. I collect money. I don’t love money . I do love the Lord God.
Newbie question here -- can somebody explain why Laura claims that "All PR/MS 67/68 Type" are not hot? Since when are MS 68's not hot? Perhaps I don't understand her meaning of "type" coins....
<< <i>- There were a LOT of great coins in this sale. I've never cared about whether a coin was "fresh", just that it was "right". I also don't want a coin more just because the seller is losing money. If you do, you will likely be the next loser.
- Many dealers are very tight for cash and would like to put their hands up, but just can't. (I'm not talking about anyone in particular).
>>
I agree with this statement. It just seems like the recent $25 million + consignment was just too much for this current coin market to absorb. While there were many "problem" or "overgraded" coins being sold, there were many many great ones as well. Personally, I would have loved to have been able to pick up a few coins at the prices that they hammered at, but I can only buy what my budget allows and I had already hit my budget on prior lots. I'm sure many other collectors felt this way as well and even some of the dealers too(although their budgets are likely much much larger than mine ).
there are some coins that you just can't buy whenever you wish, so we need to buy them when we can with the expectation that we may have a paper loss over the next 18-24 months.
That pretty much sums up my sentiments exactly. Like many, I wish I were more liquid so I could go after even more coins that are back in my price range...but I'm going to try to get a few that I thought were never going to be back in my reach.
Comments
This is not a bear coin market. Those who have been through them know what I'm talking about. Hopefully, those who haven't won't find out.
"Seu cabra da peste,
"Sou Mangueira......."
<< <i>
<< <i>My take:
If it's gold, it's hot. This is where the coin market money is flowing.
Before Central States: The upper 1% of the numismatic coin market was on solid ground.
After Central States: The upper 1/10 of 1% of the numismatic coin market was on solid ground.
With the stock market seemingly coming back, money is going to start flowing out of the numismatic coin market.
Long Beach ... >>
RE: Stock Market seemingly coming back. Of course we could be caught in the eye of the Hurricane, lull of the storm, or a major dead cat bounce. I understand at least one major brokerage house is anticipating at least one more low in the not too distant future. >>
Why would anyone care what a brokerage house has to say about anything? Their credibility is zero.
Personally, I have no idea where the stock market is going in the near term.
<< <i>Why would anyone care what a brokerage house has to say about anything? Their credibility is zero.
Personally, I have no idea where the stock market is going in the near term. >>
I absolutely, totally agree with 291fifth on this one!
<< <i>
<< <i>Why would anyone care what a brokerage house has to say about anything? Their credibility is zero.
Personally, I have no idea where the stock market is going in the near term. >>
I absolutely, totally agree with 291fifth on this one! >>
It's going to start raining crickets today.
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
This concerns me because when liquidity drys up ( fewer dealers buying coins outright) prices can fluctuate wildly especially on the downside.
I give away money. I collect money.
I don’t love money . I do love the Lord God.
<< <i>It's going to start raining crickets today.
I honestly would play golf even if it did.
perhaps it is the extreme prices and limited cash heavy
collectors that make them less desirable at this point in time.
This Lady generally knows, from whence she speaks. These
very expensive, grade scarce coins might not be easily liquid
at today's prices and may have much further to fall.
Camelot
<< <i>PR/MS coins in 67 & 68 grades are always desirable,
perhaps it is the extreme prices and limited cash heavy
collectors that make them less desirable at this point in time.
This Lady generally knows, from whence she speaks. These
very expensive, grade scarce coins might not be easily liquid
at today's prices and may have much further to fall. >>
Thanks for explanation. By the way -- does she mean certain years or certain mint marks when she says "type" coins?
They contain all mint marks. However some mint marked
coins of a series are considered rare and thus become even
more desirable , but at much higher prices.
Camelot
<< <i>- There were a LOT of great coins in this sale. I've never cared about whether a coin was "fresh", just that it was "right". I also don't want a coin more just because the seller is losing money. If you do, you will likely be the next loser.
- Many dealers are very tight for cash and would like to put their hands up, but just can't. (I'm not talking about anyone in particular).
>>
I agree with this statement. It just seems like the recent $25 million + consignment was just too much for this current coin market to absorb. While there were many "problem" or "overgraded" coins being sold, there were many many great ones as well. Personally, I would have loved to have been able to pick up a few coins at the prices that they hammered at, but I can only buy what my budget allows and I had already hit my budget on prior lots. I'm sure many other collectors felt this way as well and even some of the dealers too(although their budgets are likely much much larger than mine
Michael Kittle Rare Coins --- 1908-S Indian Head Cent Grading Set --- No. 1 1909 Mint Set --- Kittlecoins on Facebook --- Long Beach Table 700
That pretty much sums up my sentiments exactly. Like many, I wish I were more liquid so I could go after even more coins that are back in my price range...but I'm going to try to get a few that I thought were never going to be back in my reach.
Greg Hansen, Melbourne, FL Click here for any current EBAY auctions Multiple "Circle of Trust" transactions over 14 years on forum
are really intended for coins that are in some way not really desirable,
fugly or impaired in some way, rare though they may be..
These coins seem to go around and around
the auction ring many times. Coins that have sold recently, that are top of the
line for the grade, are still considered desirable just the same as fresh coins.
Camelot