Seated Dollars - Lots of Plus Signs!!

[DaveG]

Having (finally) received the new Grey Sheets, I took a look at the new Quarterly II and noticed lots of plus signs for Seated Dollars.

 

For Good to Fine coins, it looks like 99% of them had plus signs, for VF coins, it looked like about 90%, for XF coins, it looked like about 75% and for AU coins, it was only six coins. Looks like the pricing pressure is from the bottom up!

 

I remember that dealers' asking prices at ANA seemed a bit steep, but it looks like the Grey Sheet is confirming that pricing pressure.

 

Well, I hope that prices don't go up too much, I'm still looking for them!

[TomB]

I probably shouldn't bump this post to the top, but the Greysheet is behind on a lot of tougher coinage.

[Elcontador]

Dollar denomination coins (excepting for possibly Peace $s, I don't know much about them) have always been very popular with collectors.

 

As Tom mentioned, nice Seated $s have always been scarce and hard to find. For years, you couldn't buy a nice one in, say, MS 63 for sheet prices. Ditto re Bust $s in most grades.

[EVillageProwler]

Folks,

 

One of the most important things to remember is that Greysheet doesn't buy or sell coins. You can't call them up and ask to buy an 1852 dollar in MS63 for $26,000. Same applies to Trends. They list that coin at $32,500. What a joke!

 

And, I'd buy every MS63 specimen for $26,000. I'd be laughing all the way to the bank!

 

Now, please don't think I'm trying to slam them. They provide a good and useful service. It's just that they're not perfect and necessarily lag behind the market. After all, they can't seen as driving the market and it's impossible for them to 100% accurately follow the market 100% of the time.

 

What we need to realize is that those price guides are most useful for commonly traded material.

 

EVP

 

[TomB]

Your point about the Greysheet, EVP, and all other guides is correct. On ocassion I will have someone come to my table and ask for a price on a beautifully toned coin only to recoil at the price level quoted. The typical reply from such a numismatist is that "the Greysheet says it's only worth..." To which I usually reply "then buy one from the Greysheet ..." If the lightbulb does not go on at that point, it usually does after they stress "but, I want that coin..." Well, I guess you have to pay what the coin is worth.

[EVillageProwler]

TomB,

 

I'll give you Bluesheet ask for that 78S TD!

 

 

EVP

 

[truthteller]

When I see plus signs in any category, I become very leary. Sometimes the quotes are weeks old, and the market has either peaked or leveled by the time CDN gets to posting higher or lower bids. I do think this area of the market is quite strong. But sheet prices reflected may be out of date.

 

 

TRUTH

[TomB]

Hmmmm.... ....do I have to pay shipping on that one, EVP?

[DaveG]

TomB,

 

I noticed a lot of plus signs for the Daddy Dollars, too.

[Oldtrader3]

I can not remember the last time that I bought a nice for grade, scarce coin for anywhere near (within 30% of)Greysheet. At least not in the past 2 years. US Gold certainly, in this market, makes a mockery of Greysheet pricing. Scarce nice-for-grade coins cost what auction pricing and better dealers think that they are worth. Graysheet is only a starting point.

 

Peace Dollars are market in and of themselves, because of the difficulty in grading, strike and in quality range within a grade. I have paid $1000 (way over Greysheet, at the time) for a MS64, 1928-S that is clean and well struck. The same holds true for many other key "S" mint Peace Dollars.