I'm sick of it

[MikeKing]

I'm sick of pastel colors and exhorbitant prices and inappropriate celebration

I'm tired of bright and shiny and thrill seeking coin descriptions

I'm sick of lauding au58's as if they're a God send and I'm sick of misleading hype to send coin collectors into illusory heaven.

Whatever happened to AU55 or XF40? Or even a really really nice VG8?

What's happened to coin collecting society?

I just toss that damn xxxx publication in the trashcan talking about how to buy and when to sell and who's who in registry collecting when some (some) of the top tier players buy their way into a fool's paradise.

I'm tired of the absence of celebrating real collectors or when their collections come up for auction they get jived as over-graded or un-impressive when in reality they cared less about the grade and were certainly impressive.

I'm just sick of it all!

[WinstonWare]

Nice one Mike (thumbs u Good rant! We haven't had one these for a while...

[jesbroken]

Dang, I feel better already!!! What Mike said.

[Stanley]

Far Out Man … I think he’s turning around.

[dooly]

Nice one mike .. i think i am a collector from your discription

[IGWT]

I can agree with everything except the bit about pastel colors. I like pastel colors.

[BillJones]

If you want enjoy your hobby forget about ever becoming the top dog in the registry. It can’t be done. When I see foundations (not single collectors) and coin dealers posting up sets of coins that they are getting ready to auction (yes, it’s been done) I know that school is out for even a above average collector who has been at it for years. The resources are just not available.

 

So go for some other goals that are obtainable and that will please you.

 

[James_OldeTowne]

I have to admit that I'm not sick of those issues since they pertain to markets I choose not to delve into. I'm very happy with my EF/AU Standing Liberty quarters, my VF Buffalo nickels, and my Dansco Kennedy half-dollar set in BU.

 

Really, the only thing that I'm sick of in coins is seeing $40 slabs with $100 (or less) coins in them.

[rrantique]

Nice rant Mike. (thumbs u

[MorganMan]

You forgot these....

 

Actual E-bay quotes.......

 

 

In NGC AU58 holder. Looks MS62

 

Undergraded in current holder

 

In old ANACS holder. Way undergraded!!!

 

Graded AU50, Looks MS

 

MM

 

 

[cpm9ball]

I can agree with everything except the bit about pastel colors. I like pastel colors.

 

I can agree with everyone except Lou. I prefer Idaho potatoes. :baiting:

 

Chris

[cpm9ball]

Really, the only thing that I'm sick of in coins is seeing $40 slabs with $100 (or less) coins in them.

 

Would it make a difference if the slab costed $15 or less?

 

Chris

[BillJones]

Really, the only thing that I'm sick of in coins is seeing $40 slabs with $100 (or less) coins in them.

 

Those slabs aren't too bad if you can buy them for $15 to $20.

 

I know this stuff is dirt common, but still a PR-69, DCAM is a very attractive coin in my view. As a young collector, I could mostly only dream of finding coins with that much contrast on both sides. You had to sort though many, many Proof sets to find them, and most dealers were not about to let a kid do that.

 

Now every Proof the mint issues is at least a CAM. With the slab the sorting is done for you. And it will interesting to see if the coins, with proper storeage, will avoid the toning problems the some U.S. mint holders seem to impart.

[James_OldeTowne]

Really, the only thing that I'm sick of in coins is seeing $40 slabs with $100 (or less) coins in them.

 

Would it make a difference if the slab costed $15 or less?

 

Chris

Not really. I see a lot of five-dollar coins in $15 slabs!

 

It's just the sick notion some people have that seems to be that everything needs to be slabbed....

[bsshog40]

Alot of these so-called $5 coins in slabs are part of bulk submissions. Most of them still make a few bucks on them after selling so cheap.

[Houston Investor]

I am sick of seeing some low life pricing toned coins way in excess of the price guide price or seeing the same guy pricing an obvious PVC damaged coin at a premium because it has "beautiful sea green toning." I have seen that description so many times its like some of these guys have a cafeteria style menu from the "How to Describe Coins for Dummies" book.

 

I can't stand seeing expensive coins with carbon streaks graded MS 65 when ANA Grading standards state such coins should be graded MS 64 or lower. Ditto for PVC damage (should be 63 and lower), black spots (should be 63 and lower, and fingermarks (should be 63 and lower). Copper and copper nickel coins appear to be the most vunerable to PVC damage. Such PVC toned coins should not be graded above MS 63 and yet I have seen them in higher grade holders and then grossly overpriced by some scum seller due to the toning. Its like the carnie who steps on a secret button to make you miss then makes fun of your throw.

 

And don't you just love the guy trying to rip you on the price of a coin because of how much he paid for it. Like your some dummy who's supposed to pay more because he bought it and paid that? I have heard this hilarious phony tripe on the bourse so many times.......See you at the Carnival.

[chinook]

What are you talking about? Every coin in your Ebay store is at least 50% over the PCGS price guide--which is high to start with--and most are not even in PCGS plastic.

[edmerlr]

Ok MikeKing, I wasn’t going to give you my pet peeve(s). …but now I cannot help myself.

 

(1) I’m sick of dealers whose eyesight suddenly improves when you are trying to sell them a coin.

 

***************

(2) Another thing I am tired of can be told in the following story:

 

First, I accept and acknowledge that dealers who travel the coin show circuit have costs and overhead. After all of their bills and taxes are paid, they need to make (MUST make) a profit.

 

The story:

 

In November 2006 at the Santa Clara Expo I carried with me a raw AU-53+ “common” 1826 Bust Half that I wanted to sell or trade in. Well, not really an AU-53+, because the coin had been obviously dipped and heavily wiped.

 

I don’t remember how I ended up with the coin, but I wanted to “dump it.” I would have liked $200 for it, but Heck, I would have been happy with at least $150 in trade.

 

Three dealers had already turned me down before I even told them what I wanted for the coin.

 

With the coin still in my pocket I approached one of my favorite dealers before I called it quits and went home. (No names, because he travels the national coin show circuit.)

 

I handed him the coin and asked: “Are you interested in this and what will you give me for it?”

 

“I like it,” he said, “but it’s been cleaned. $150 is all I can pay.”

 

I didn’t say yes or no. Instead, I put the coin back in my pocket.

 

With absolutely NO prior premeditation (I’ll swear on this.) I then asked to look at the Busties in his case full of raw coins. I picked up three coins. All three coins (different dates, of course, but still “common Busties” from the late 1820’s) looked similar in grade and appearance to my dipped and heavily wiped coin.

 

I asked him for the prices. Two were $400 each and one was $425. I was astonished at his asking prices.

 

I took my coin out of my pocket and with as much apology and tact as I could muster asked: “Excuse me. I am not trying to be nasty or a smarta$$ - and I know you have to make a profit, but why is my coin worth $150 and your coins worth at least $400 each?”

 

The dealer picked up all four coins (his 3 and mine) and switched them back and forth under the light. He was quiet. Speechless. He wanted to explain something to me, but the words couldn’t come out. In all of the years I have known him, he has never been this quiet.

 

I like the man. I didn’t want to press the issue, so I changed the subject.

 

(I think what I was thinking at the time – and to keep it within the scope of this thread – I am sick of excess profit.)

 

Bottom Line: I did NOT buy his 3 raw coins. I DID buy 2 of his slabbed coins. (after some negotiation) …and he gave me $175 in trade-in for my dipped, heavily wiped 1826.

[Houston Investor]

What are you talking about? Every coin in your Ebay store is at least 50% over the PCGS price guide--which is high to start with--and most are not even in PCGS plastic.

 

In your lack of tact or professinalism, you speak with forked tongue or ignorance - Chief Whitehorse no invite you join his tribe. Now take your stinky buffalo skins and leave this camp before your scalp hangs with my other prizes.

 

Another thing I am sick of is ignorant ranting message board nuts who tell tall tales mixed with slanderous propoganda. I thnk a lot of it is these guys simply don't have any money or they can't stand someone who collects something beyond their limited horizons. Yes, occasionally some of these guys have got on the bad side of me and I have got nasty. I regret that, but I will defend myself from the unprofessionalism and sleazy propoganda of those who attack me. Lets honestly face it, many of them don't want the competetion in an already overcrowded rare coins bourse where CDN Bid appreciation has been slow. Think I am joking - do your own analyis of the PCGS 3000 for trends over the last year or so or for that matter the last decade.

 

I tell it like it is and call it like I see them. But despite my imperfections, at least I don't price some coin at 12 times the price guide price because it is toned like this one lowlife I have encountered!

 

Chinook, I do not expect you to agree with my pricing, but you are way out of your league bashing my inventory with some false general propoganda statement or attempting to price my coins. I once had a guy quote me Greensheet Bid (as if to educate me my note was priced too high) on a note of mine at a show as it was priced at retail. I asked him if he had one he would sell me at bid and surprsingly he did. It was a really good buy for me - so if I can't sell to some of them on the bourse, maybe I can buy from them. Unfortunately, this nice fellow was the exception rather than the rule.

 

 

[DirtyGoldMan]

Another thing I am sick of is ignorant ranting message board nuts who tell tall tales mixed with slanderous propoganda. I thnk a lot of it is these guys simply don't have any money or they can't stand someone who collects something beyond their limited horizons.

 

Sounds a lot like you discussing the CAC...

[DirtyGoldMan]

I am tired of dealers pricing overgraded coins in second/third tier slabs as if the coins are solid for the first tier grade. They are either incompetent wannabes or dishonest, take your pick.

[Houston Investor]

Another thing I am sick of is ignorant ranting message board nuts who tell tall tales mixed with slanderous propoganda. I thnk a lot of it is these guys simply don't have any money or they can't stand someone who collects something beyond their limited horizons.

 

Sounds a lot like you discussing the CAC...

 

I think you may be over-exaggerating but I do have my concerns and opinions about them. I will consider your statement however and examine them further. Thank you for your input.

 

If you feel a need to spend your money on CAC (whatever their fees are going to be) go ahead if that will add to your sense of security or sale realization on your Southern Gold - thats your call. I can not see CAC affecting me as I shy away for the most part from coins over $300 unless they are either bullion related or something I just have to have. Here in Texas, once you go over $300 on a coin you have priced most show customers out of the market. When I would set up at some of the Greater Houston Shows I would wonder how the big national guys even broke even with the shows here, especially some of the ones held at Greenspoint Mall or as some Houstonians refer to as "Gunspoint." If one is going to do shows full time I think he would need to relocate to one of the major retail market areas: California, New Jersey, New York, or Florida.

 

CAC may benefit the dealer who has a small quantity inventory of say 50 coins averaging $1500 a piece - not a bad strategy. But if they don't all get the coveted sticker, then people may wonder about the ones that did not get it. Where will he be then?

 

The bottom line for me is if I don't like the coin, I don't buy it - sticker or no sticker. For retail, I price the coin - not who's holder its in or if it has someones sticker. That CAC stickered coins will trade at a premium in the marketplace remains to be seen - at this point I have no idea what they will charge for their service for that matter. Any premium for CAC coins will probably be determined how they are treated by the CDN "greysheet." If greysheet bid for a MS 65 Oregon offered to me at my table is say $300 and it has a CAC sticker, well so what? My offer for the coin whether pass, 60%, 80%, or 95% of CDN Bid will depend on how I like the coin, how it fits in with my current investment strategy, and its potential to move quickly. When making offers on certified coins at shows (PCGS, NGC, ANACS, ICG - major grading services - accepted by Teletrade) my offer will be in one of the three tiers above - this is based on business reasons. I am not going to be the bank for certified rare coins and if the seller does not like my offer then they can move on. You can compare it to a college football recruiting program based on the number of recruiting hours spent on a particular candidate. Obviously, the higher offers go to the blue chip candidates. In certain instances, I will take certified coins on consignment with an agreement with the seller where I simply take a 5% commission when it sells. In this way, some of my clients have realized more than just 95% or less of CDN Bid. Will CAC coins be able to sell for more? Lets see what these guy really do once its teed off. Show me some green.

 

[Houston Investor]

Well I have a lot of them I just sell raw but I mark my grade on them and price accordingly - accurately and honestly of course. I like raw coins, they are easier to store and display.