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What am I missing on this at GC?
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Started by Woods020,

16 posts in this topic

Woods020

Woods020

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This put together proof set of normal proofs, some might even be altered or it may be the case, has 9 bids and run up to $409. What in the heck am I missing? Is there something special here I don’t know about? The description literally just says “1951 proof set uncertified in capital case”. I don’t even see a cameo in the bunch. 
 

https://www.greatcollections.com/Coin/1115425/1951-1c-50c-US-Proof-Set-Uncertified-in-Capital-Plastics-Holder-5-Coins

image.thumb.jpeg.b544b772b4da842cbdd1619106d2e420.jpeg

 

image.thumb.jpeg.1d740ba6b0e499ad8d1e96569f7dc9ca.jpeg

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Woods020

Woods020

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The 51 Franklin proof is going for more than I realized. I’m going to start making home made 51 proof sets if anyone is interested 😂. The idea that this crappy set of run of the mill proofs is going for that, plus 12% premium when it hammers, baffles me. But coin prices in general baffle me right now. 

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VKurtB

VKurtB

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On 2/10/2022 at 12:54 AM, Woods020 said:

The 51 Franklin proof is going for more than I realized. I’m going to start making home made 51 proof sets if anyone is interested 😂. The idea that this crappy set of run of the mill proofs is going for that, plus 12% premium when it hammers, baffles me. But coin prices in general baffle me right now. 

The pictured set is in a Capital Plastics holder, by a MILE the most common home for 1951 sets. 

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VKurtB

VKurtB

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On 2/10/2022 at 9:21 AM, GoldFinger1969 said:

Which coin prices seem high to you ?

Literally EVERYTHING seems too high right now. Everything U.S., that is.  Insanely high. 

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Woods020

Woods020

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On 2/10/2022 at 10:28 AM, VKurtB said:

Literally EVERYTHING seems too high right now. Everything U.S., that is.  Insanely high. 

Agreed. And clearly I’m not up on proof Franklin half prices but a run of the mill average condition 51 proof set being over $400 just baffles me. So many better ways I can think of to invest $400 for coins than this. Which this has 3 days left and 12.5% buyers premium. Who knows what the final buyer price will be. I’m not complaining but this just seems weird to me. Guess I need to start looking for late date silver proofs. 

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VKurtB

VKurtB

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On 2/10/2022 at 11:09 AM, Woods020 said:

Agreed. And clearly I’m not up on proof Franklin half prices but a run of the mill average condition 51 proof set being over $400 just baffles me. So many better ways I can think of to invest $400 for coins than this. Which this has 3 days left and 12.5% buyers premium. Who knows what the final buyer price will be. I’m not complaining but this just seems weird to me. Guess I need to start looking for late date silver proofs. 

I metaphorically “stole” a 1951 set in the original packaging, back in September at auction. I got it for a little over $200. 

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GoldFinger1969

GoldFinger1969

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On 2/10/2022 at 11:28 AM, VKurtB said:

Literally EVERYTHING seems too high right now. Everything U.S., that is.  Insanely high. 

The coins were coming out of a 10-year bear market (maybe longer).  It could be the start of a new bull market in U.S. coins OR just a bear-market rally.

Oversold market.....coins down 50-75% in price from 2010....fears of inflation....people at home with $$$ to buy....new buyers finding out about Ebay, GC, HA, etc....plenty of tinder for a big move up.

I'm not so sure it's insane.  Not anymore than oil going from $-30/barrel to $90/barrel in less than 2 years. xD

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VKurtB

VKurtB

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On 2/10/2022 at 12:07 PM, GoldFinger1969 said:

The coins were coming out of a 10-year bear market (maybe longer).  It could be the start of a new bull market in U.S. coins OR just a bear-market rally.

Oversold market.....coins down 50-75% in price from 2010....fears of inflation....people at home with $$$ to buy....new buyers finding out about Ebay, GC, HA, etc....plenty of tinder for a big move up.

I'm not so sure it's insane.  Not anymore than oil going from $-30/barrel to $90/barrel in less than 2 years. xD

Well yes, that's due to insanity too. But a bear market is the natural state of affairs for coins. The market is shrinking.

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GoldFinger1969

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On 2/10/2022 at 4:10 PM, VKurtB said:

Well yes, that's due to insanity too. But a bear market is the natural state of affairs for coins. The market is shrinking.

Demographics are tricky to predict.  I agree that the size of a move in purely numismatic coins and a move in PMs (gold & silver) like we saw from 1946-80 is NOT likely to repeat.  Just like the bear market in bonds that took place as yields rose from 2% in 1946 to 15.5% in 1981 is not likely to repeat

However....there's lots of $$$ out there.  SWFs, CBs, institutional investors, retail -- they all like bullion and coins/bars made out of buillion.  Classic, including pre-1933, gold can NOT be increased in supply as opposed to modern coins and modern bullion strikings.

Is the market shrinking ?  One would think so....but the population in the U.S. is increasing so if the % of people interested is falling the total can be increasing...flat...or declining at a slower rate.....plus people have information and bidding opportunities at their fingertips, and it's easy to find coins in terms of effort and time, if not price.

A few years ago everyone thought baseball cards were NEVER coming back and they are the hottest collectibles out there along with this NFT stuff etc.

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Woods020

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On 2/10/2022 at 11:16 AM, VKurtB said:

I metaphorically “stole” a 1951 set in the original packaging, back in September at auction. I got it for a little over $200. 

Without checking current prices that’s about what I thought FMV would be for that. Not what I’m seeing in this listing. 

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VKurtB

VKurtB

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On 2/10/2022 at 6:22 PM, Woods020 said:

Without checking current prices that’s about what I thought FMV would be for that. Not what I’m seeing in this listing. 

Numismedia FMV has it at over $700 and NumiNews Coin Market has it at $410, and it has been there for well over a year. Its next change is almost certainly waaaay up. The spread between the 1950 and the 1951 seems to be shrinking. 

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VKurtB

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On 2/12/2022 at 12:01 PM, numisport said:

Looks like a matched set to me. Cent has reverse cameo and if fully cameo would make the deal

Mine was still in the original box, original cello, and original tissue paper. Original Insured Mail label with 8¢ presidential stamp. The address is now a medical practice in the Bronx. 

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