Has 2009 Delivered any Good Buys while Purchsing Coins, Notes

[Houston Investor]

GOT RIP? With the economy in the tank and only bound to get worse, have you gotten any good Buys off the Bay or at Shows?

 

Share your experiences and comments. At my shop here in the Phoenix area, the people coming in to sell at prices where we can easily flip the material at a decent profit has greatly increased. Buying it right is one of the advantages of a shop. What we are finding is that the dealers and collectors who normally catch our flip are running out of money, so we have had to lower our buy prices to around 60% of CDN Bid or less on many items due to current market conditions. This has not slowed the selling traffic! To compound this situation are people coming with Chinese counterfeits of Barbers, Gold, and Type such as mint state 3 Cent Nickels. So raw purchases must be closely scrutinized and questionable items avoided. One fellow who came in with what he thought were 5 mint state 3 Cent Nickels had been ripped big time with counterfeits he bought from a flea market operator. As Greater Depression II becomes worse we will need to lower our buy prices more I suppose.

 

I do remain a solid buyer on gold and silver bullion items raw or slabbed paying up to 97% of melt (as the refiner only pays 98%). However, as soon as it comes in, it goes out due to high demand. As Greater Depression II intensifies I look for gold and silver to set new records as the economy sinks further into the tank with additional job losses and credit card defaults (which will be massive) along with the southwardly plunge of the dollar.

 

[World Colonial]

None recently. It is getting harder to do so for the series I was previously able to do this with. The reason is that the spread between raw and certified has shrunk.

 

 

Also, one dealer who I have bought from has been raising his sell prices even as the market has been weakening. He sells more than just these coins but I have been surprised by the low prices he charged before and that he is raising them into a falling market. I would expect him to know better.

 

And by the way, I agree with your sentiments for the most part about the economy. Your anecdotal experience about people coming in to sell their material at "low" prices does not surprise me at all.

[Houston Investor]

Yes the bad economy has dampened my outlook. I was considering of setting up at the FUN show but after doing a cost estimate on the high overhead costs of table fee, travel, and lodging it would be anything but fun for me.

[Jeffrey Cardona]

This was a spur of the moment buy off of Ebay. Got it for about half of what Numismedia lists it for. Just a side note here...it is probably one of the ugliest coins to come from the mint...IMHO.

[Houston Investor]

I never purchased the Bald Eagle 50c - I may go look for one on the Bay just to own one. I got 2 of the dollars and 2 of the $5 from the mint. I submitted both gold $5 and one Silver Dollars to NGC and got MS 70 on all 3. At a recent show I sold the $5 Gold BE NGC MS 70's at $450 each to two different customers. I did not expect to get this much for them but was holding at this price for when the sheet comes out. This was a good deal for me considering I paid the mint around $300 each. It will be an ironic twist of fate if the sheet comes higher than the $450.

 

Interestingly enough my GF texted me a day or two later saying she needed $300 for her law books for the new semester (the profit on the two coins). Of course I agreed to help her out.

[EZ_E]

My Eagle gold came back 69. Got an ms70 pcgs Jamestown, ms70 1st flight, ms 70 SF and constitution. Sounds like you did good.

[okbustchaser]

I still don't know why people keep saying that coin prices have dropped. I sure don't see any drop on what I am quoted when trying to buy. Nor did any auction lots in the recent Florida sales I was interested in go for any less than they would have last summer.

[Jeffrey Cardona]

I still don't know why people keep saying that coin prices have dropped. I sure don't see any drop on what I am quoted when trying to buy. Nor did any auction lots in the recent Florida sales I was interested in go for any less than they would have last summer.

 

Well something is going on with prices....I just received a 2008 SAE MS-70 for

$55...best offer option! What ever is happening...I like it and keep it coming (thumbs u

[astrostu]

Notes - yep. Yesterday I bought a 1969 $10 for only $10!