Unbelievable posted by Iskrona

[CSJournals-migration]

What a bunch of insufficiently_thoughtful_person's

 

I was watching a ebay listing for a 1959 1 Krona that was graded by PCGS at MS-65 sell for over $39.00. what kind of person has a $3.00 coin graded by PCGS and tries to sell it on ebay and expect someone to pay that kind of money or more for it unless that person has a few people bidding on it for him/her (Plishing The Bid)in Hopes a person like me will be willing to pay that kind of money for it,,,Yeah Right ,,,not in this life time since I have a group of great people in Iceland and here in the States looking for these coins for me without such high prices,,granted the cost of grading and all,,There are only a few people that really collect Icelandic coin and those people will not pay those kind of over priced coins unless they are worth more then $3.00 I'm putting a set of Icelandic coins together from 1946 to 1966 and no matter what the condition of these coins are they are not worth spending that kind of money to have them graded because they would never ever be worth it. So to the poor sap that payed all that money for this coin,,,You have my sympathy.

Another listing I was watching last week was a 1973 50 Kronur graded by PCGS at MS-65 that had a so so toning, And to my amazement it sold for just over $114.00. I know people like toned coins and so do I,,,But 114.00 bucks for a less then a five dollar coin,,,,That's INSANE pure and simple. And for the poor sap that bought that coin I have two thinks I can offer you,,,,One...A straight jack or Two..A bridge that was built in Brooklyn. There has been a few dealers on ebay that have been trying to sell a key date 1931 5 Aurar in a nice UNC for around 40 to 100 dollars with no bites...The one that is listed now had been started at $100 and then at $85 and the dealer has since listed it two more times for under $50.00 and no bites...Now why wouldn't anyone that collects Icelandic coins not jump on this...But if I was to bid on this coin all soughts of people would show up out of nowhere to bid the coin way up. Since I stated buying Icelandic coins on ebay back in June of 03 I started to notice that people that never had bid or won a Icelandic coin was showing up at those auctions to bid so I started to keep track of all the bidders that participated and keep a list of them and checked there feedback,sometimes they would win,if the bid didn't reach the full value of the coin and sometimes they would lose,,,If it became over prices... but the funny part of it is that they never seemed to have bidded on Icelandic coins before but just bidded on coins from that dealer,,,but now since ebay keeps the bidders ID hidden you don't know for sure if he's bidding for the dealer. Another funny one was a dealer that was selling Icelandic notes from the years 1948 to 56 and one person was bidding on them all for just under book value...He must have won everyone of those auctions,,,enough to wallpaper a small room and all of them had the same signature's on the notes,,,either he was working for the dealer or he's another one that needs a straight jacket. So to my fellow coin collectors beware of what the dealers on ebay are doing. Stop buying coins on ebay since there is so many good dealers and reputable auction house's out there to deal with.

Thanks for taking the time to read my rant

 

See more journals by Iskrona

[namvette68]

I know of people that paid over $1,400.00 for four, 2009, US pennies. People have reasons for acquiring their coins, and the absurd prices they pay for them.

Do you think my 2011 Sacagaweas were cheap? Not by a mile, but I do have the first four ERs ever in the Registry. Sometimes I buy the label, but I always get the coin, no matter what. I guess, I too make the "insufficiently_thoughtful_person" class.

[Iskrona-migration]

I can understand paying a premium for a U.S coins since there is a large collector base for them ,,,,The largest in the world that is, but a Icelandic coins like the two I mentioned above would never be justified because the value would never exceed the cost of slabbing.The only way I can see spending the money to grade those coins , like the 59 1 Krona , If they would come back in a MS-68 or better which would be a one in a million shot. My whole point of the journal was that dealers on ebay are some of the most shadiest coin dealers I have ever come across in the 43 years I have been collecting coins and I know a few great coin dealers that would never sell on ebay because of what it would do to there reputation among there pears and because they buy and sell coins by what the grey sheet prices are that tell's them what the coins is worth and that is why many other coin dealers and collectors come to them for coins because they don't try to pull any BS with anyone.... I guess the ones that can't make it in the real world come to ebay looking for suckers. Now don't get me wrong there are many honest dealer on ebay and I have come across a few ,,,,,But they are far and few in between.

[Iskrona-migration]

I guess, I too make the "insufficiently_thoughtful_person" class.

 

No.... I don't think you make the idiooot classs.....I guess ngc is changing the words around.HMMMMM interesting

[Bruceswar]

Maybe we will not agree here, but your 3 and 5 dollar comments are not seeming to hold much base. Sure out of the plastic they might be that much, but in them they are worth more and people are willing to pay more. I bet the buyer of this could is not buried at all in it. Just my thoughts.

 

 

 

[Iskrona-migration]

I like to collect rare coins and not coins that have a high number attached to a slab if it a modern issue because they are a dime a dozen because of the way the mint can produce a so called perfect coin at a alarming rate making them common and never really growing in a numismatic and historical sense. People will one day wake up to the fact that the money they spent on modern issues would have been better or wiser to have put that money into U.S. key date coins where they will certainly grow in value. I guess to many of us collectors made this mistake and payed dearly for it when they went to sell there coins when all the hype was over like the investors/collectors in the 80's that payed thousands of dollars for common unc morgon dollars because the wall street investors told them it was a great investment, Which only drove the prices higher making people think that these coins can't lose....but when the ...you now what it the fan,,, the bottom fell out and many people lost a lot of hard earned money to nothing more the silly hype.

 

Brucewar.....I know many dealers that sell low buget coins for less then anyone can have them graded by NGC.

I really like your web site of your Washington Quarters......Nice work. I would take your collection over any modern graded MS/PF-70 coins anyday.

[Bruceswar]

 

Brucewar.....I know many dealers that sell low buget coins for less then anyone can have them graded by NGC.

I really like your web site of your Washington Quarters......Nice work. I would take your collection over any modern graded MS/PF-70 coins anyday.

 

Wait till I am done with it.. PS. Me also Moderns just do not do it for me.