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Something strange is going on in the coin world.....................

Started by truthteller,

13 posts in this topic

truthteller

truthteller

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Ok. I sold some nice commems about a year ago, for really good money. thumbsup2.gif Now I just bought 5 coins back in the last two months for SIGNIFICANTLY less than what I sold them for. In addition, I saw several of my old coins sell in auction for much, much less than what I sold them. What's the deal????893scratchchin-thumb.gif Are my coins going ring-around-the-roosie?

 

 

TRUTH

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GDJMSP

GDJMSP

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I dunno - but it sounds like nice work to me thumbsup2.gif

 

You don't suppose it would have anything to do with the market wheel rolling over to the other side now would ya 893scratchchin-thumb.gif

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gmarguli

gmarguli

Posted
Posted
Ok. I sold some nice commems about a year ago, for really good money. thumbsup2.gif Now I just bought 5 coins back in the last two months for SIGNIFICANTLY less than what I sold them for. In addition, I saw several of my old coins sell in auction for much, much less than what I sold them. What's the deal????893scratchchin-thumb.gif

 

I don't know, but I did purchase a wonderful Stone Mountain today. The seller gave me a good discount because he was in such a good mood because Bush was re-elected! Coin dealers are crazy!

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truthteller

truthteller

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"I don't know, but I did purchase a wonderful Stone Mountain today. The seller gave me a good discount because he was in such a good mood because Bush was re-elected! Coin dealers are crazy!"

 

 

893scratchchin-thumb.gif

 

 

Christo_pull_hair.gif

 

 

 

 

TRUTH

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truthteller

truthteller

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It's a very unusual market. Many marketmakers have stopped posting bids on the sight unseen network, while posting higher sight bids. Of course, a sight bid carries no requirement for purchase, and I know many dealers who will pay substantially more than a sight bid. However, I do notice many coins running the auction gamit, with nice coins being recycled from one company to another auction house. When a major auction house purchased many coins out of an auction recently, it made me take notice. Obviously, the auction house did not have a ready buyer and had to sell them piecemeal, through ebay, through their website. In addition, a TON of coins are coming up for auction at FUN. It will be curious to see how much of that can be absorbed, resold, or remain unsold. Furthermore, I cannot rely on supposed 'prices realized' any longer. Too many games.

 

 

TRUTH

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truthteller

truthteller

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I just bought a coin back out of auction which I JUST SOLD 60 days ago for 55% LESS than what I sold it for. In the same auction, a coin that a buddy sold less than a year ago, sold to me for 25% LESS than what he sold it for. 893scratchchin-thumb.gif Both very pretty coins, and I'm glad to buy them. But I'm still wondering........... confused-smiley-013.gif

 

 

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gmarguli

gmarguli

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I just bought a coin back out of auction which I JUST SOLD 60 days ago for 55% LESS than what I sold it for.

 

893scratchchin-thumb.gif Sounds like you charge too much. 27_laughing.gif

 

sorry.gifsorry.gifsorry.gifsorry.gifsorry.gif

 

I think this is very good news. I'd love to see the market crash. There are a lot of nice coins that I'd love to own if only they were 1/2 price.

 

I wonder if this could be just a normal cooling down. Many dealers were pricing coins based on what they thought they would be selling for in the near future. This was very much like 1989 when dealers kept upping their own Asks.

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John Maben

John Maben

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Without a doubt, the classic silver commem market is confusing at the moment. It did start to heat up back in July but it only lasted a couple of months. I am still buying and selling lots of them, but not always at retail or even full wholesale, sometimes below.

 

On the other hand there aren't people lined up to dump their truly nice commems, that just isn't happening, and I know for a fact that certain issues, mostly those under $1000. or so, are still being quietly accumulated by a few market makers and position takers.

 

The best I can figure is that the rising metals are diverting attention to other areas (gold coins and bullion) that is temporarily redirecting the inflow of money into the hobby/business away from other areas.

 

John

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bigd5

bigd5

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Ok. I sold some nice commems about a year ago, for really good money. thumbsup2.gif Now I just bought 5 coins back in the last two months for SIGNIFICANTLY less than what I sold them for. In addition, I saw several of my old coins sell in auction for much, much less than what I sold them. What's the deal????893scratchchin-thumb.gif Are my coins going ring-around-the-roosie?

 

 

TRUTH

 

Maybe you are the hidden "master" of selling overgraded coins that are completely MAXED out in their current holders, and there is no where for these coins to go but back out to the wolves.........:)laugh.gif

 

Honestly, I'd say that is odd and maybe someone speculating on a commem bump, it doesn't happen so they dump the coins to raise some dough?

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