Part of the CAC's mandate is to create a supportable market. Who is creating the market for Plussed
Longacre
Posts: 16,717 ✭✭✭
Part of the mandate of the CAC was to create a supportable market for stickered coins. It is my understanding that the CAC team of dealers frequently posts bid prices for stickered coins that are higher than raw-slabbed coins. To me, this is the socially acceptable thing to do, especially since the CAC stickering is essentially a "new grading" concept, although I am sure that some people disagree with this concept and view stickering a coin as not regrading it.
Enter the new Plussing of coins. Again, this is what the market has demanded, and PCGS has filled the void. To me, the Plussing of coins is essentially the creation of a new grading system (again, there are some who would disagree), which creates price disparities between Plussed coins, raw slabbed coins, and sticker-slabbed coins. To my knowledge, PCGS has not created a supportable market for Plussed coins.
Who is creating the market for Plussed coins? If it is the dealer community in general, are we, as collectors, at risk that too much dispartity will be created between Plussed coins, and coins that are not Plussed? Does this drive prices down too quickly on non-Plussed coins? Is there a floor below a non-Plussed coin will go, as compared to its price before Plussing came into existence?
Enter the new Plussing of coins. Again, this is what the market has demanded, and PCGS has filled the void. To me, the Plussing of coins is essentially the creation of a new grading system (again, there are some who would disagree), which creates price disparities between Plussed coins, raw slabbed coins, and sticker-slabbed coins. To my knowledge, PCGS has not created a supportable market for Plussed coins.
Who is creating the market for Plussed coins? If it is the dealer community in general, are we, as collectors, at risk that too much dispartity will be created between Plussed coins, and coins that are not Plussed? Does this drive prices down too quickly on non-Plussed coins? Is there a floor below a non-Plussed coin will go, as compared to its price before Plussing came into existence?
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)
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)
0
Comments
The CAC and Plus coins should make their own market. Sink or swim!
There is nothing wrong with a team of dealers posting bids who will actually buy the coins. Eventually, the + coins could have a network too.
How??? A dealer posts a buy price for a specific coin or coins.
How can that even remotely be construed as manipulation???
If it is, then all posted bids go away. What do you think would happen to coin prices then???
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Finest Toned Ike I've Ever Seen, been looking since 1986
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Posting bids for certain coins can be a form of market manipulation, if the bidder simply intends to run up their prices (and already has the coins in hand).
This sort of thing has been done for decades.
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
<< <i>Segoja,
Posting bids for certain coins can be a form of market manipulation, if the bidder simply intends to run up their prices (and already has the coins in hand).
This sort of thing has been done for decades. >>
That's how the Long Island stock market boiler rooms did it ( Google Jordan Belfort) and it's been done since the days of Livermore.............MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......