Market Report please leave your comments and ideas

[MikeKing]

From US?!!!!!

 

Any ideas?

 

Capped Bust Halves softening

Morgans holding their own

Scarce copper holding it's own

 

 

Those are just some of my gut feelings

 

 

 

 

[TomB]

Market report from me-

 

Consistent with most times, the coins I am looking for appear to be nowhere to be found.

[James_OldeTowne]

Capped Bust Halves softening

Boy, I hope you are wrong. I am about to catalog a very hefty consignment of fresh, original bust halves, mostly in AU grade!

[Mark T]

Market report from me-

 

Consistent with most times, the coins I am looking for appear to be nowhere to be found.

 

That is because you are too selective !!

[Mark T]

From US?!!!!!

 

Any ideas?

 

Capped Bust Halves softening

Morgans holding their own

Scarce copper holding it's own

 

 

Those are just some of my gut feelings

 

 

 

 

 

And what is wrong with soft Busts anyway ??

[Mark T]

Capped Bust Halves softening

Boy, I hope you are wrong. I am about to catalog a very hefty consignment of fresh, original bust halves, mostly in AU grade!

 

Where will you be consigning these??

[James_OldeTowne]

Capped Bust Halves softening

Boy, I hope you are wrong. I am about to catalog a very hefty consignment of fresh, original bust halves, mostly in AU grade!

 

Where will you be consigning these??

Why, Scotsman, of course!

[michael]

for pre 1915 classic coinage

 

that......................................

 

a) has choice AND original surfaces or close to it; the closer the better

 

b) is scarce to rare

EXAMPLE--- choice unc. 1835 quarter eagle/1876 choice unc. gold dollar

 

c) a sexy stand alone coin

EXAMPLE--- 1794 half dime

 

d) other extra special qualities the coin has that makes it more special than other examples of the same coin

EXAMPLE-- not just a proof morgan but a cameoed original set killer toned proof morgan

 

 

 

 

as per the above a coin that has one or more or ALL of the above qualifications A-D

 

is a really good coin to buy and be into in this current market and in my opinion IN GENERAL---has a tremendous opportunity to rise in demand

[James_OldeTowne]

I find mid-range material to be very strong, stonger than ever, actually. I am speaking of moderate to nice quality Fine to VF collector coins. Probably many collectors who find their numsimatic budgets tightening have lowered their sights for coins that are actually affordable.

[Houston Investor]

The rare coin market has been very weak and retail sales very slow. My P&L is negative right now with no prospect of imprvement and I am just primarily sitting on my cash occasionally picking up a good deal; otherwise just fun and games. The occasional retail customer who will pay the money always brings a smile though. Currency has been horrible - the only thing scarcer than expensive notes is people who will buy them!

 

I am glad I don't depend on rare coins for a living as I have my Financial Consulting Business and the lucrative project I have been on as a Project Financial Controller for a major oil company has been fantastic. I like the coin business, but its been mainly a schedule C tax writeoff the last coupla years.

 

Recently at a show a customer offered a dealer near my table a 1936-D WLH 50c in NGC MS 65. CDN was $500 Bid / $550 Ask. Blue Sheet was $275. The dealer offered the guy $275. He passed saying he wanted Bid ($500). The dealer said "what you expect me gonna be the bank on this - hey $275 is all they're gonna pay me ." Another dealer offered him $300 saying "I will fudge it up to $300 but thats it because on a good day I might get $525 on it but beyond that the &%**$$ just won't pay retail."

 

Its always easier to buy coins than sell them.

 

[Mark T]

Capped Bust Halves softening

Boy, I hope you are wrong. I am about to catalog a very hefty consignment of fresh, original bust halves, mostly in AU grade!

 

Where will you be consigning these??

Why, Scotsman, of course!

 

Any overdates in that lot ??

[World Colonial]

I would expect the 'typical" collector to be reducing their coin budget and most of them substantially given that about three million jobs have been lost in the last six months. (This is based upon ADP and Department of labor data.) I have eliminated mine almost entirely.

 

What should be more surprising is that there are still as many collectors who can afford or are still willing to spend the money to build a decent or even moderately substantive collection at all given how expensive so many US coins are.

 

My collection is worth about $50,000, maybe slightly less now though I would not know without putting them up for sale since so many of them come up for sale infrequently.

 

If I bought US coins instead, I would expect that it would be a fairly average run of the mill collection because I simply cannot afford to buy what I would classify as comporable material.

 

The most I have ever paid for a single coin is $1200 and about 85% of the coins I own cost $300 or less. By my definition, $300 does not buy very much in quality or scarce US material unless someone is using a narrow definition of scarcity.

[truthteller]

Surprisingly, I can do quite a bit of business on the wholesale side for coins under $500. Mostly, the mom and pop dealers are buying, but selectively, and most business is done at the smaller(50<) table shows. Sales to local dealers at shops for clientele is non existent and those shops buying from the public is a high percentage bullion only. At larger regional shows, only really PQ coins for the grade priced appropriately will sell.

 

At the smaller shows, sales to the public is still very good as long as the markup is fair and a small amount of give and take is acceptable. Some dealers are finally getting hungry and beginning to sell nicer coins at acceptable levels(25% over greysheet ask is about TOP dollar). However, many dealers who have purchased common lovely colored coins will probably die with them or wait until the next bull market in 10 years. Just try to sell a Battle Creek NGC$ Morgan for $500. You will get a counter offer for $75.

 

For those who are still paying crazy money for color, just wait a while, those prices should and will come down to reasonable levels once the auction cycles are done for next few months. Many of those coins simply do not sell and are returned to the consigners. At a larger show, I had a dealer quote me $500 for a colorful common date washington quarter. I had a similar one in my box and told him I would sell it for $50, same date, same grade, same mint set color. I think he got the message, but the consigner may not have.

 

 

TRUTH

[BillJones]

I need some really tough type coins to finish my set. We are talking the big bears here, like the 1796 No Stars quarter eagle and the 1796-7 half dollar. Lower prices for these pieces would be great, but in bear markets the supply dries up to nothing.

 

As for what I'm holding, I'm sure It'd take a beating if I tried to see the stuff I've bought within the past couple of years. But since I'm one of those collectors who still some pieces I bought when I was kid in the 1960s, I'm never in a rush to sell.

 

Still I'm getting older by the minute so who knows?

 

The show I attended was the EAC convention. The prices were the usual "EAC strong" for copper. Most dealers at the show said they covered expenses, but the show was not great for them.

[James_OldeTowne]

Capped Bust Halves softening

Boy, I hope you are wrong. I am about to catalog a very hefty consignment of fresh, original bust halves, mostly in AU grade!

 

Where will you be consigning these??

Why, Scotsman, of course!

 

Any overdates in that lot ??

About a dozen, going by memory.

[michael]

 

The show I attended was the EAC convention. The prices were the usual "EAC strong" for copper. Most dealers at the show said they covered expenses, but the show was not great for them.

 

but there was really NOT any great keeper COINS offered unless you wanted to pay multiple times retail for it unlike eac conventions 10+ years ago where there was lots to buy and much great keeper coins at fair prices unlike todays market

 

so i can see why most just made expenses