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Live from Pittsburgh, PA........

Started by John Maben,

21 posts in this topic

John Maben

John Maben

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Thanks!

 

To update, for those that may care, I came to the pre-show with 5 double row boxes of assorted better quality US coins, about 85% NGC, the remainder PCGS. I sold at about a 4 to 1 clip over purchases. Problem is, I don't know whether to be happy or not since I can't replace much of anything. (yet)

 

I'm not exactly giving things away either! The market is very solid. If you're coming to the show to sell, I need to buy!!!!!!!!!!!!!!!

 

I am very thankful that my family, friends, and former co-workers at NGC are all safe, I am sad for those who were affected.

 

John

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John Maben

John Maben

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I'll try Michael. I should have noted that 100% of my sales were to other dealers. There was some public attendance, but other than asking a few prices, none seemed to be buyers. I have heard first hand and from others that most of the non dealers have skipped the pre, and going right to ANA, so this lack of retail sales is not at all surprising.

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scroll

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I have a couple of rookie questions. I've never been to a coin show, at least not yet. Are the coin prices fixed or do buyers haggle? I guess since you were at the pre-show it may be slightly different than the general show.

 

And since the average hobbyist has no history with many of the dealers at a show how can a collector know (or at least what should they look for) to limit the chances of being taken?

 

BTW, as Hurricane Charlie approached I was wishing I had a good heavy safe to bolt down my currently meager collection so that it wouldn't become someone else's treasure find. It helped me to determine what kind of safe I might want to invest in.

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jom

jom

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I have a couple of rookie questions. I've never been to a coin show, at least not yet. Are the coin prices fixed or do buyers haggle? I guess since you were at the pre-show it may be slightly different than the general show.

 

Always haggle....always. makepoint.gif

 

jom

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TomB

TomB

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John, I think you will find that it is very difficult to come up with choice, original quality coins. Even if you believe you are offering aggressive prices, the coins that are the best seem to have been sucked off the floor and held tightly. I realize that this always happens to a certain extent, but the nature of the market now, as I have witnessed it, makes buying quality coins harder than ever.

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reid1836

reid1836

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Problem is internet auctions. Dealers often offer gray sheet or just a little over wholesale to purchase coins from collectors. This was all well and good when dealers were about the only readily available buyers for a collectors coins. But now with internet auctions the collector can become the dealer and sell to an unlimited number of other collectors who are all potential buyers. Thus eliminating the need to sell at wholesale. My personal experience has show me that I can achieve close to if not better than retail by selling in this manner. As a result, I don`t even bother offering coins for sale to a dealer. My time is better spent on selling to other collectors. No offense intended. wink.gif

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TomB

TomB

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Thanks for the kind words about my site, John, and I think you will find that Pat was writing about your first comment in your post, not your second. tonofbricks.gif

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michael

michael

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great thread and posts john maben!

 

it is really interesting all sold to dealers too wow 893applaud-thumb.gif

 

these dealers are certainly not putting away the coins they are then marking them up and selling them for more

 

 

could you please share with us what types of coins and grade ranges where the subject of most demand/ sold the fastest with the least discounting

 

by the dealers who bought from you??

 

michael

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John Maben

John Maben

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Well, I recently did an interview with Maurice Rosen and one of the questions he asked was what differentiates this bull market from previous bull markets. My answer was that this one is not yet indiscriminate.

 

It is starting to get indiscriminate.

 

EVERYTHING sold, but silver commems, nice type, early gold, and morgan dollars are especially in demand.

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gmarguli

gmarguli

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EVERYTHING sold, but silver commems, nice type, early gold, and morgan dollars are especially in demand.

 

893whatthe.gif Are your sure you didn't mean to write "EVERYTHING sold, but silver commems. Nice type, early gold, and morgan dollars are especially in demand."? Every report I read says that commems are a dead area unless the toning is the selling point.

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John Maben

John Maben

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Greg,

 

Take it for what it's worth, "inside information" if you want to call it that, but silver commems are NOT dead, they appear to be in the EARLY stages of a run. I buy more, and they sell immediately. I keep paying more each time I replace. If the coin is blah or a more common issue (Arks, Boones, WC's,BTW's) it is still not moving, but for most issues, nice untoned or attractively toned coins are in great demand right now, from NUMEROUS buyers.

 

I kid U not. If you have any for sale, PM me.

 

John

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