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How big of a role do the CCE / Coinplex play in the Coin Market?
C0inCollect0r
Posts: 374 ✭✭
Hi folks,
I was interested to hear a little more about the CCE and Coinplex from a fellow collector the other day - the idea of a sort of "stock market" for coins. I was just curious if any dealers (or collectors) here have a good idea of exactly how much business is actually done in this way? Is this a major portion of the day to day coin market? Do dealers acquire a large portion of their inventories through transactions on the CCE or Coinplex or is it a relatively small portion?
Any insights are always interesting to hear.
I was interested to hear a little more about the CCE and Coinplex from a fellow collector the other day - the idea of a sort of "stock market" for coins. I was just curious if any dealers (or collectors) here have a good idea of exactly how much business is actually done in this way? Is this a major portion of the day to day coin market? Do dealers acquire a large portion of their inventories through transactions on the CCE or Coinplex or is it a relatively small portion?
Any insights are always interesting to hear.
0
Comments
I can speak for CCE, as I have been associated with CCE and the FACTS dealer network for over 30 years. The dealer network consists of over 650 companies, which include probably over 1000 individual dealers/traders. On any given day, there are 1000’s of broadcasts of buys and sells. These include all sorts of items numismatic and bullion related. It’s all business. Our dealer members trade wholesale dealer to dealer anything numismatic, a wide range of items ranging from bullion, moderns, currency, 90%, 40%,classic rare coins both raw and slabbed and anything in between. All this takes place on a message broadcast system where members place messages out for everyone to read and respond. The members even have the ability to privately respond. Literally 1000’s of deals are done each and every day, 24/7 365. The “Exchange” portion of the network consists of major market makers placing “Bids & Asks” on both seen and unseen graded coins in PCGS, NGC, ANACS and ICG. These coins can then be traded “electronically” with the trades governed by formal rules of the exchange. All CCE members have the ability to view these prices along with who is responsible for them, but only the FULL trading members can electronically trade. A subset of the Exchange is the “Generic BIG Market, the coins in this category are the highest population graded generic Gold and silver coins, since inception a few years ago the Big Market has traded well over 70 million $s. I would hazard to say that the wholesale pricing on many issues of US coins is partially based on the CCE network. Every day CCE formal trading occurs not only in generics, but also in dated issues. While viewing the CCE market in a coin, you see bids and asks, with dealer Id’s along with POPs, and other pertinent auction pricing data.
Our dealers have become accustom to being able to bar code scan the holder and automatically view the screens with prices, they then can determine how to currently price a coin fast and easily. The total package, CCE, gives it members the means to aquire inventory on a 24 hour day, along with the ability to sell off inventory. Many of our members are B & M dealers, so stocking their stores is very demanding, with CCE it becomes much easier, It’s like a major bourse floor 24/7.
CCE provides its members with metals pricing in addition to a Bullion Quote system that adjusts bullion related issues against current world spot prices automatically. A big part of the network are bullion related trading. But classic coins and type coins are still king.
The CCE network is worth its weight in Gold, as most members tell me. If you are a dealer and interested, contact us at www.certifiedcoinexchange.com If you are an authorized PCGS dealer we have an introductory special just for you.
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Mike
www.Collectorscorner.com
m.Collectorscorner.com
www.Collectorscorner.com
m.Collectorscorner.com