outbid

mommam17 · June 4, 2011 4:20AM

Hi. I use to buy 2-4 commems in the MS 64-67 range in Heritage's Signature Auctions. Now I'm always outbid. Same thing with Ebay Auctions for commems and silver dollars, almost always out bid. I don't think my bidding has changed. Is anyone else noticing the same thing?

Bear · June 4, 2011 4:24AM

Really nice coins are either selling for moon money or they are not making reserve.

The dregs or average coins are selling much cheaper. There seems to be a panic over

obtaining WOW COINS.

BillJones · June 4, 2011 4:33AM

To be honest, I don't know how you can bid on MS-64 to 67 coins from photos. The pictures just don't tell you enough.

If you get such coins with careful, not crazy high bidding, chances are the people who have seen it laid off because they didn't like it. It's been said here many times that you can't really Mint State grade coins from pictures and that goes for pricing them as well.

LindeDad · June 4, 2011 4:38AM

If your bidding about the same dollar amount for the same coins. Might give you a idea of what those dollars are worth now.

Kove · June 4, 2011 4:42AM

The people who attend lot viewing have the real leg up on everyone else. Many times I'll see a coin in the online photos, only to be disappointed in the lot viewing. The opposite happens frequently, where I'll find a hidden gem where the coin doesn't look good in the photo, only to be very nice in person. These are the real steals, as the online-only folks ignore the coin. In my experience, Commems in MS66 and higher really require lot viewing to build a quality collection.

mommam17 · June 4, 2011 4:47AM

about 90% of my bidding is on CAC coins, of which about 95% I'm happy with, when in hand.

CommemDude · June 4, 2011 6:02AM

I would recommend against bidding on high priced items using the Heritage pictures alone, they are sometimes much nicer than the coins although occasionally the coins are much nicer than the pics and a really nice coin slips through at a bargain price.

All the toned commems seem to have mulitple bidders now, but many of the coins are getting bids that exceed retail prices you would pay at Pinnacle for example.
There is definitely a limit to what the market will bear, just look at the many pretty coins on ebay that are priced way out of line and never sell.

Patience and a limit to what you will spend on any coin and avoiding auction fever are always good guides to live by.

BillJones · June 4, 2011 6:11AM

<< <i>about 90% of my bidding is on CAC coins, of which about 95% I'm happy with, when in hand. >>

CAC explains why are your losing bids. You have bid on high on those because CAC has won the marketing battle.

astrorat · June 4, 2011 6:26AM

<< <i>Hi. I use to buy 2-4 commems in the MS 64-67 range in Heritage's Signature Auctions. Now I'm always outbid. Same thing with Ebay Auctions for commems and silver dollars, almost always out bid. I don't think my bidding has changed. Is anyone else noticing the same thing? >>

There's another post out there, somewhere, that goes a little like this...

"I used to underbid on 2-4 commems in 64-67 in the Heritage Signature Auctions. Now that I raised my bid levels, I am starting to win the lots. Dang, the same thing has happened on eBay with commems and silver dollars. I'm glad I changed my bidding. Has anyone else noticed the same thing?"

Seriously, the reason you are not winning the lots is that people are paying more for the quality coins that you collect. Sure, I know that's a penetrating glimpse into the obvious, but it's the reality. Unless one changes to respond to the market, then you come out short. I know, I remember being "caught off guard" when 75-CC double dimes jumped in price virtually overnight a few years back ... dang!

ambro51 · June 4, 2011 6:33AM

Maybe you should start working through a dealer.

rays · June 4, 2011 7:30AM

<< <i>To be honest, I don't know how you can bid on MS-64 to 67 coins from photos. The pictures just don't tell you enough.

If you get such coins with careful, not crazy high bidding, chances are the people who have seen it laid off because they didn't like it. It's been said here many times that you can't really Mint State grade coins from pictures and that goes for pricing them as well. >>

There were two coins I was interested in thursday night's sig auction in long beach. First, lot 3034, an 1812 large cent in PCGS XF45. The sharpness and color were fine but what I saw in person (and the catalog "forgot" to mention) were four marks on Liberty's cheek that ruined it for me. In retrospect, these were visible on the website photos.

The second lot 3044, was an 1842 large date cent in PCGS MS64BN (CAC). The strike, marks, etc. were ok for a 64 but the lustre was too subdued for a 64 in my opinion. And I don't care whether CAC liked it or not, they aren't bidding on it.

BOTH lots sold to internet bidders without a single floor bid. Why not? None of the dealers in the room wanted them at those prices (both sold for $1725 with the buyer's fee).

I have learned the hard way: Never bid on coins sight unseen unless it is unique or you know the provenance and are otherwise knowledgeable about that specific lot for sale.

Walkerguy21D · June 4, 2011 8:24AM

<< <i><< about 90% of my bidding is on CAC coins, of which about 95% I'm happy with, when in hand. >>
CAC explains why are your losing bids. You have to bid on high on those because CAC has won the marketing battle. >>

I agree - you are competing with the Legend-type customers of the world now....bid accordingly, or reset your sights. Or seek better values through other venues when possible. Attend some bigger shows, and look for those coins that fit the bill that haven't been submitted for +'s, stickers, etc. and are priced more in line with your thinking.

mommam17 · June 4, 2011 10:34AM

Bill- If that is true I'm glad my 50 piece commem goal is done. Now trying to buy nice coins that become challengers into the collection.

outbid

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