GreatCollections 0

[World Colonial]

DUPLICATE

Edited October 26, 2021 by World Colonial

[World Colonial]

On 10/25/2021 at 10:48 PM, VKurtB said:

This is SLIGHTLY related to the current controversy in competitive exhibiting. (Not registry sets - that’s unrelated) The current standards use the R scale to determine a rarity score (1-10). It is almost IMPOSSIBLE for a U.S. Coins exhibit to EVER score above a 2 or 3 on a scale of 1-10. The guy who made his reputation exhibiting Lincoln Cent Matte Proofs by die state (!!!!!) (complete) was getting 2’s and 3’s for rarity and he was losing his mind. He was confusing rarity with affordability. His stuff was ridiculously expensive, but in the R scale, not really rare per se. The guy had well over half a million dollars invested, most of them finest known grades, or one away, but technically they are not rare. His “condition” scores were top notch, but not “rarity”.

What you are describing is a function of the outlier price level.  By traditional criteria (such as Red Book rarity), there are a large number but low proportion of rare or scarce US coinage but most or all are hopelessly beyond the financial reach of practically all collectors.

This thread has gone off topic (again) but by any sensible standard, no coin which can be bought any day of the week is even close to being rare.  Any coin which can be bought near "market value" (not at a "stupid money" price) on "relatively short notice" is at most modestly scarce.

This is to be expected since coins are mass produced objects and those which are somewhat less so are almost always made for collectors (proofs, NCLT).  The coins I collect which are a lot more difficult to buy than practically any US (partly due to price) aren't absolutely rare either. 

[numisport]

On 10/23/2021 at 2:37 PM, 124Spider said:

Thanks; this is VERY helpful.

At this stage I'm only buying expensive, but not rare, coins (think, e.g., Morgan dollars not minted in Philadelphia or San Francisco in 1895).  Someday, I'll be looking for a 1916 Standing Liberty quarter, and I'll be more ready to overspend to get the coin I want (as I was when I bought a 1918/7-D buffalo nickel in VF35 condition--CAC approved, even--after a long search).  And, yes, I've done enough research, and recorded it, to know what each coin I'm interested in costs at various coin shops, in what condition.  So I know what I'm willing to pay.

Great Collections is a good place to buy and I trust Ian with secure bids. Probably not a good time to buy silver dollars at these inflated price levels.

[124Spider]

On 10/26/2021 at 8:03 AM, numisport said:

Great Collections is a good place to buy and I trust Ian with secure bids. Probably not a good time to buy silver dollars at these inflated price levels.

Thanks.  I understand that silver dollars have spiked, but one can't wait too long at my age!

[VKurtB]

On 10/26/2021 at 10:29 AM, 124Spider said:

Thanks.  I understand that silver dollars have spiked, but one can't wait too long at my age!

Ah yes, the age thing. Lots of that going around. 

[GoldFinger1969]

On 10/26/2021 at 11:03 AM, numisport said:

Great Collections is a good place to buy and I trust Ian with secure bids. 

What's a "secure bid" ??

[numisport]

On 10/26/2021 at 4:41 PM, GoldFinger1969 said:

What's a "secure bid" ??

A secure bid is one that is confidential and allows me to bid up on a coin that merits a premium bid but still keeps my current bid in place. Same thing that Heritage does but with lower buyers percentage and zero sellers costs on coins that sell above 1000.00.

[Conder101]

Sounds like a standard proxy bid.  You enter your maximum bid and each time you are out bid the proxy raises your bid by one increment over the current bid until someone bids more than your maximum.

[124Spider]

On 11/3/2021 at 11:08 AM, Conder101 said:

Sounds like a standard proxy bid.  You enter your maximum bid and each time you are out bid the proxy raises your bid by one increment over the current bid until someone bids more than your maximum.

That is how it works there.

[Hoghead515]

On 10/23/2021 at 12:39 PM, 124Spider said:

Hi,

I have reached the stage where many of the coins I really want are expensive (to me, "expensive" means a few hundred dollars up to many thousands of dollars).  Until now, I've bought the expensive coins at reputable dealers, certified by PCGS, NGC or ANACS.

But it appears to me that auction prices are lower than retail prices (presumably because dealers get their coins at auction).

So I'm considering trying GreatCollections and the other high-end auction sites.

Is this safe (their photos aren't very good, and I like to see a good photo of an expensive coin before buying it)?  Also, are auction prices often significantly below retail prices at dealers (yes, I understand that I determine how much I'm willing to pay, by putting an upper limit on how much I bid, but I'm curious if the hammer price typically is lower)?

Thanks.

Mark

I have really good luck at GC. Ive bought several coins from them. Never had a problem. But, ive never bought a very expensive coin. Most the ones i buy are in the up to a hundred dollars range. 

[TonerGuy]

Does anyone know - as a seller - if Great Collections gives advances on coins placed with them for sale ?

And how does it work with raw coins that are submitted ? Can you send raw coins, get them graded and put them on a reserve price? Do you pay a restocking fee and their grading fee if they dont sell ? Or do you have to keep them on GC until they sell ?

[World Colonial]

On 11/7/2021 at 6:14 AM, TonerGuy said:

And how does it work with raw coins that are submitted ? Can you send raw coins, get them graded and put them on a reserve price? Do you pay a restocking fee and their grading fee if they dont sell ? Or do you have to keep them on GC until they sell ?

Raw coins - my understanding is that they will submit it for the consignor to NGC or PCGS at a reduced rate but have not done it myself.

I have sold through them twice.  I sold with no reserve so everything sold.  However, my recollection is that if you place a reserve, those that do not sell are included in subsequent sales though don't remember the number of times.  I don't recall if there is a fee for unsold lots.  There was a $3 fee to list each coin.