I'M I in the Twilight Zone 0

[JT2]

So i am starting to get ready for summer F.U.N. 2023.  I was thinking that i would pick up a couple of new Lincoln cents to start rounding out my set.  only need a few in the 20's and a couple in the teens. All of my Wheaties in  my slabbed set are 6 6 red from 29 - 58.  So i started to put together my want list and started to notice that gem RD Lincoln's price tags are through the roof.  so now i ask ya when did the Lincolns prices go through the roof.  i am looking at some and they are worth more than my 6 5 Walkers and Morgan's.  some are even worth more than my complete 6 4 set of Peace dollars, Heck I know i have been concentrating on other areas with my Indians and Buffalos and SLQ's but i decide this time to start to fill in those missing pieces.  Looks like it is going to be a onesy twosy pick up from now one.

[J P M]

On 6/22/2023 at 6:34 AM, JT2 said:

So i am starting to get ready for summer F.U.N. 2023.  I was thinking that i would pick up a couple of new Lincoln cents to start rounding out my set.  only need a few in the 20's and a couple in the teens. All of my Wheaties in  my slabbed set are 6 6 red from 29 - 58.  So i started to put together my want list and started to notice that gem RD Lincoln's price tags are through the roof.  so now i ask ya when did the Lincolns prices go through the roof.  i am looking at some and they are worth more than my 6 5 Walkers and Morgan's.  some are even worth more than my complete 6 4 set of Peace dollars, Heck I know i have been concentrating on other areas with my Indians and Buffalos and SLQ's but i decide this time to start to fill in those missing pieces.  Looks like it is going to be a onesy twosy pick up from now one.

I am having the same problems with nickels. I used to get real nice coins for under $20 or under $10 even. Now coins that are worth $35 high retail are selling at $50 or more. I think there are many non-numismatics just buying up whatever they can get there hands on. The internet gives out to much hype and I think that it drives prices up on lots of stuff.  

[Jason Abshier]

You bought up a good point that was one of the reasons I stopped collecting Lincoln cents were due to high demand prices was too… but when it came time for me to sell off my collection of Lincoln cents seems like nobody was interested of course my set wasn’t fully as completed like your’s however I did have MS67 reds from 1940’s-1950’s … earlier years 1909-1930’s were a mix of MS65 Reds and MS66 Reds with a few proofs and a handful that were MS RB … where all the hype came from ? I have no idea … But for MS67 they sold easier with registry builders at the time I made a small profit there as for  all rest?  I had to slowly sell off didn’t seem I was making back any profit off it not what I would of liked … Never collected another Lincoln cent again … There’s tons of them on EBay but doesn’t mean anyone is buying them at that price another over hyped common coin just as bad as the over hype high prices for Morgan dollars is a disgrace ! 

[Coinbuf]

Perhaps you have heard the term a rising tide lifts all boats; I'm surprised that you have not seen the same with the other series you have been working on.   Between the current administrations rapid inflation and a super bull market in numismatics over the past few years I cannot think of any coin or series that has not seen significant rise in the asking prices, especially if you are looking at buying from a dealer.   Having said that gem+ full red coins in the twenties and teens have always been pricey, that is why my set is mostly RB or BN up to 1930, from 1930 on I have strived for only red and at least 66 shooting for 67 on each coin.   But I have a few of the early 30's coins in 66's that are so nice it is hard to justify upgrading.

My advice is to look at the auction sites to fill in those gaps, it will not be much less expensive but still less than paying the dealer markup.   After all many dealers are buying from those same auctions and adding 25% or more on top.

[JT2]

On 6/22/2023 at 9:02 AM, J P M said:

I am having the same problems with nickels.

JP you just ain't whistling Dixie!!  I have noticed this on almost all of the early Jeff's and now V 's are taking off as well.......  as @Coinbuf said we need a change at the top this inflation is killing me!!.  need to get back to the way things were!

[zadok]

On 6/22/2023 at 9:02 AM, J P M said:

I am having the same problems with nickels. I used to get real nice coins for under $20 or under $10 even. Now coins that are worth $35 high retail are selling at $50 or more. I think there are many non-numismatics just buying up whatever they can get there hands on. The internet gives out to much hype and I think that it drives prices up on lots of stuff.  

...the money gravitates to whatever is hot making it hotter...lincolns today buffs tomorrow etc, stays if the frenzy catches on i.e. morgans...u would think the selling n buying prices would be much closer but not the case, many of the big show dealers will not buy back at 60% of their selling prices, this should tell u where the market is...example, i purchased a relatively expensive coin from one of the ANA dealers n he later obtained a higher graded same coin, he would not even take first coin back in trade on second coin!!...buying in a feeding frenzy market is usually a bad decision....

[zadok]

On 6/22/2023 at 11:45 AM, JT2 said:

JP you just ain't whistling Dixie!!  I have noticed this on almost all of the early Jeff's and now V 's are taking off as well.......  as @Coinbuf said we need a change at the top this inflation is killing me!!.  need to get back to the way things were!

...personally id prefer to go back to the Lincoln or Roosevelt days n buy coins but....

[Jason Abshier]

On 6/22/2023 at 12:31 PM, zadok said:

...the money gravitates to whatever is hot making it hotter...lincolns today buffs tomorrow etc, stays if the frenzy catches on i.e. morgans...u would think the selling n buying prices would be much closer but not the case, many of the big show dealers will not buy back at 60% of their selling prices, this should tell u where the market is...example, i purchased a relatively expensive coin from one of the ANA dealers n he later obtained a higher graded same coin, he would not even take first coin back in trade on second coin!!...buying in a feeding frenzy market is usually a bad decision....

I know quiet a few dealers who will not buy back their coin they sold not even a trade in towards an upgrade … they should just put up a sign that says “done deal is a done deal!” I guess some of them just rather have different coins in their inventory to sell than to having to deal with same coin as a buy back or trade in … I had experienced with one dealer once who wouldn’t even accept a trade in towards an upgrade this coin was purchased 5 years prior before from him . I wanted to to trade in the answer was “Nope sorry , no deal not interested” 

Edited June 22, 2023 by Jason Abshier

[EagleRJO]

On 6/22/2023 at 6:34 AM, JT2 said:

... I started to put together my want list and started to notice that gem RD Lincoln's price tags are through the roof ... Looks like it is going to be a onesy twosy pick up from now one.

On 6/22/2023 at 9:02 AM, J P M said:

I used to get real nice coins for under $20 or under $10 even. Now coins that are worth $35 high retail are selling at $50 or more.

I have been encountering the same issues with prices for other coins where I am working on sets, including filling some holes in a complete Morgan circulation set (all years and marks), a one-per-year trade dollars set, and a one-per-year pre-1930's half dollars collection recently started.

Prices really spiked towards the end of the pandemic, near the end of 2022, as I think there were a lot of people with extra money that was being given out spending that cash on coins.

I figured that as the slush funds dried up, and we headed into a possible recession, that prices would start dropping.  They actually did drop for a while, and I was able to scoop a bunch of missing coins.

Then, much to my chagrin, the prices for the coins mentioned started to go up again.  And in some cases being sold with bids exceeding the valuations for the coins, which is really frustrating.

So I am back to sitting on the sidelines mostly waiting for prices to drop again, and also doing onesie-twosie pick ups while hoping to see people finally run out of slush fund money so that the prices drop again as expected.  

Edited June 25, 2023 by EagleRJO

[powermad5000]

This makes it ever more important to utilize your self grading skills on raw coins. Even some of the raw coin auctions get out of hand on certain ones, but it is always prudent to exercise restraint and more so in this current market.

The pandemic did seem to fuel a spike in all prices. I think people who were stuck at home started looking into new things and for some of them, it was coins. Coming in "hot and fresh", I think some of them do not have the knowledge or experience to bid reasonably or to make outright purchases with regard to market values. I think some of them are overpaying for raw or slabbed coins without knowing basic grading skills so they think they are getting one over on the other guy, except that they do not know that it will come back to burn them when market prices drop and they lose money on all their purchases.

I have always bought only raw coins for the purpose of submitting looking to have the coins return with an increase in value over what I paid to get them raw. Rarely have I bought a graded slab and when I do it is usually a special provenance like the S.S. Republic half I bought. I refuse to pay face value on raw. And I always remember mintage values involved. When there is over a million minted, that means if a coin's selling price gets out of hand, it is time to walk away. There will be others and that particular coin was just not meant to be in my hand. This practice has worked very well for me.

[EagleRJO]

On 6/22/2023 at 8:22 PM, powermad5000 said:

This makes it ever more important to utilize your self grading skills on raw coins. Even some of the raw coin auctions get out of hand on certain ones ...

Particularly on eBay where coin grades are routinely overstated by sellers, and novice coin collectors don't even look at that sometimes, they just bid based on the overstated grade.

[ldhair]

The matte proof Lincolns have also taken a large increase as well.

[Reno Raines]

Well I only collect gold and silver coins - namely Eagles. I am currently working on a base set of burnished ASE's. The last purchase I made was for a 2013 NGC MS70 burnished ASE back in 2019. I paid $80.00 for it. Recently I looked up the NGC "Book value" for lack of a better term and it lists for $165.00. The bottom line is any coin is only worth as much as what somebody's willing to pay for it at any given time regardless of what the "Book value" for that coin is.

Edited June 23, 2023 by Tony Follis

[J P M]

On 6/22/2023 at 11:13 PM, Tony Follis said:

Well I only collect gold and silver coins - namely Eagles. I am currently working on a base set of burnished ASE's. The last purchase I made was for a 2013 NGC MS70 burnished ASE back in 2019. I paid $80.00 for it. Recently I looked up the NGC "Book value" for lack of a better term and it lists for $165.00. The bottom line is any coin is only worth as much as what somebody's willing to pay for it at any given time regardless of what the "Book value" for that coin is.

With the way the market is I don't think you would get $165. PCGS book is even lower like$100. Burnished are more valuable than most. Bids start at around $35 and only top out at 60 to 90 on average. Unless it is a special label. 

Edited June 23, 2023 by J P M

[Reno Raines]

On 6/23/2023 at 7:25 AM, J P M said:

With the way the market is I don't think you would get $165. PCGS book is even lower like$100. Burnished are more valuable than most. Bids start at around $35 and only top out at 60 to 90 on average. Unless it is a special label. 

My NGC MS70 2013 burnished ASE label has a star and says early releases. There's a picture of it in my registry.

[RWB]

Subtract $35 to $50 from the asking price, and you'll have something closer to a realistic price for most Lincolns and Buffaloes. The TPGs have been successful in frightening collectors into accepting their certification charges as a baseline coin price. Learn to accurately grade coins and buy nice slabbed coins.

[VKurtB]

What everyone here has been describing is NOT a general increase in both wholesale and retail prices, but rather a MASSIVE increase in expected buy/sell SPREADS. The dealers want obscene retail markups these days. It's why I buy at auction almost EXCLUSIVELY, and rarely buy anything slabbed. I turn raw coins into slabbed coins, and slabbed coins into raw coins less often. I show slabs NO RESPECT AT ALL.