Coin collector's nightmares!

[RGT]

Good point, but they didn't actually use that word in the auction. I guess one coin would hardly be an estate. This one was in an old NGC slab with a poor picture, which is probably why I got it at a reasonable price. Sometimes you just have to take a chance.

[Leothelion]

The troublesome fact that a coin's value is determined by the wealth of the bidders.

The rarer the coin, the weathier the bidders! If your wealthy but a loser in the rare coin market, then your likely collecting moderns. Does that make any sense? That's right, put your faith in PCG$. Way to go!

 

Leo

 

 

You might want to actually look to see how we losers are actually doing. Most of the moderns that people actually collect are still doubling in price every couple years or more frequently. Many raw coins worth hundreds of dollars can still be found for very nominal prices. Collectors who know what they're doing are doing fantastically when they go to sell and are having a blast in the mean time.

 

 

Hi Cladking

The last I heard (my state) the State of Illinois was 5 billion dollars in debt. After the 9/11 event, just about everything in commerce nationwide was greatly affected. Certainly, most cities are making a recovery. But yet, the coin market is booming! Why? Here's the article! But nothing is mentioned about the registy

set hype that MAY very well be the cause for the surge in prices and I am talking about pop top certified coins, both classic and moderns. Here's another interesting article2. At the very last paragraph, again nothing is said about the registry set hype, IF that's what's causeing this renewed interest in coin collecting. Now if you have been watching all the hype and rediculous prices being paid for slabbed coins that are most likely (but not all) geared for registry sets, if you have noticed all the shysters on ebay and many other auction houses, a great number of people are rolling the dice, so to speak, and they are taking the gamble whether they are informed or not. But it is comforting to know that it won't last long as stated in that same paragraph. The shame is, the lost of many collectors had the coin market remained stable before the allusion of the registries. and of course, that's my opinion.

Sure, enjoy it now, while it lasts but many will be licking their wounds in days to come. To say the least, this is the American way. And I'll admit, I have jumped on the band wagon a couple of times myself but not as a buyer.

 

Leo And remember, there are enough coins for everyone.

 

 

[Leothelion]

All you new posters are welcomed but for heavens sake, be sure to leave a name that we can all live with. Make it Bob, Bill, Sue or whatever but please give us a name.

 

Leo

[gmarguli]

Greg stated:

State quarters. The 1999 rolls were selling for $50 each. Now you can't give them away for $20. You'd be lucky to get $15 for a roll.

 

Greg,

What's your opinion about state quarter rolls in US mint rolls (selling for $32.50 from the mint)? Do you think that original rolls have a chance for much appreciation in the future (especially considering that the buyer already had paid a healthy premium from the mint).

 

I do not think they will have any added value in the future. Perhaps a small premium as a novelty, but beyond that, nothing.

 

What is special about them? They have a slightly different wrapper. That's all.

 

There is no difference in quality from these than the ones wrapped by Brinks for banks and stores.

 

I personally wouldn't pay ANY premium for them.

[Leothelion]

Good point, but they didn't actually use that word in the auction. I guess one coin would hardly be an estate. This one was in an old NGC slab with a poor picture, which is probably why I got it at a reasonable price. Sometimes you just have to take a chance.

 

Hi RGT

Talk about taking your chances, For the quality, I'm 1-6. For "not so bad" coins, I'm 2-6. So I'm 3-6 in taking chances and doing OK in my last auctions. The other 3 coins are overgraded. The one quality coin came from a seller I've never bought from before and upon asking about another coin he had up for auction, he came right out with the truth about the coin. That the coin had alot of marks and that it was overgraded.

Rarely, do I come across an honest seller like that. I told him so and thanked him.

 

Leo

 

Probably

[cladking]

The last I heard (my state) the State of Illinois was 5 billion dollars in debt. After the 9/11 event, just about everything in commerce nationwide was greatly affected. Certainly, most cities are making a recovery. But yet, the coin market is booming! Why? Here's the article! But nothing is mentioned about the registy

set hype that MAY very well be the cause for the surge in prices and I am talking about pop top certified coins, both classic and moderns. Here's another interesting article2. At the very last paragraph, again nothing is said about the registry set hype, IF that's what's causeing this renewed interest in coin collecting. Now if you have been watching all the hype and rediculous prices being paid for slabbed coins that are most likely (but not all) geared for registry sets, if you have noticed all the shysters on ebay and many other auction houses, a great number of people are rolling the dice, so to speak, and they are taking the gamble whether they are informed or not. But it is comforting to know that it won't last long as stated in that same paragraph. The shame is, the lost of many collectors had the coin market remained stable before the allusion of the registries. and of course, that's my opinion.

Sure, enjoy it now, while it lasts but many will be licking their wounds in days to come. To say the least, this is the American way. And I'll admit, I have jumped on the band wagon a couple of times myself but not as a buyer.

 

Interesting articles. Thanks.

 

The thing that most people keep overlooking is the fact that there are an increasing number of people interested in coins. Many of these new collectors are children who will not be spending much money for years yet but they are collecting coins. There are many millions of people with at least a toe hold on the hobby. Sure many of these people can be lost by many different eventualities, but they can not all be lost. The pop tops might crash today, but this will drive very few away since it will have no effect on people who are not paying big bucks for ANY coin. They might be treated rudely by the hobby or by dealers, but many will just find other ways to enjoy the hobby and buy their coins.

 

Can the market crash? Most assuredly. And if it does the coins most affected will be those with the greatest recent gains in many cases. But even if it does happen the demand for some coins will continue to grow. There are very few collectors for nice choice modern coins, two years ago there was a mere handful and ten years ago there were almost none. In the next few years the demand for whatever coins the bulk of the new collectors gets into can increase many fold. (assuming it's not an already popular series like wheat Lincolns).

 

A very wise man once told me to always be a contrarian. "If everyone runs to the port side of the boat, you should run to starboard." Their action might still cause the boat to capsize but your's may save everyone. Even if it doesn't at least you'll be on the right side of the boat when it goes under.

 

It seems to me that moderns are still the contrary position. It's also difficult to believe the market is poised for a fall while everyone is expecting it and seeing blood in the streets.

 

All of these markets are likely to move forward with or without the mainstream collector.

[ChrystaWilson-migration]

 

Yes, there is a lot of noise over there recently. I even participated in the AH fun and got my account blocked. I'm selective about what I read so it's easy for something to slip by me.

 

It's probably my fault for picking a lame title for the thread. It was something about the "mighty have fallen". I bought a half dime from a gentleman on ebay who found it in his fathers "estate". Just one coin that he bought back in Nov. 1989. It's an 1870 NGC MS-64. I was just sharing how the prices have fallen so drastically since the peak of the hype back then. They even sent me the original sales receipt.

 

I picked up the coin from the PO this morning. I wasn't going to bother with a follow-up since everyone was too busy arguing and badmouthing "satan" to talk about coins.

 

Go ahead and post it! I think people are in a rut lately. All AH stuff and stuff about finding fabulous things in rolls of change.

Some real coin content would be good!

[EZ_E]

Greg stated:

State quarters. The 1999 rolls were selling for $50 each. Now you can't give them away for $20. You'd be lucky to get $15 for a roll.

 

 

Greg,

What's your opinion about state quarter rolls in US mint rolls (selling for $32.50 from the mint)? Do you think that original rolls have a chance for much appreciation in the future (especially considering that the buyer already had paid a healthy premium from the mint).

 

 

Bill and Greg, thanks for the feedback! I've bought mint rolls since Indiana but it just chaps my .... lips ( ) to pay a premium for business strike coins from the mint. I believe that I'll take you advice and not purchase any more mint rolls in the future unless its a relatively low mintage.

[RGT]

Hi RGT

Talk about taking your chances, For the quality, I'm 1-6. For "not so bad" coins, I'm 2-6. So I'm 3-6 in taking chances and doing OK in my last auctions. The other 3 coins are overgraded. The one quality coin came from a seller I've never bought from before and upon asking about another coin he had up for auction, he came right out with the truth about the coin. That the coin had alot of marks and that it was overgraded.

Rarely, do I come across an honest seller like that. I told him so and thanked him.

 

Leo

 

Probably

 

I guess I'm doing much better. Most of the coins I've gotten off ebay lately have been graded accurately. I've returned a few and had one ANACS AU-58 Trade dollar, that I'm sure has been lightly cleaned, refused for return.

 

My best score was an 1838 half dime I bought raw as "choice AU". When I received it I thought it was an MS-62 shot. NGC thought it was MS-63. Not bad for a low AU price.

 

This latest half dime came in an old NGC holder (circa 1989) as MS-64. It has very few marks that I can find and may go higher than 64 today. It also has lovely peripheral toning that didn't show up in the ebay picture. The surfaces look prooflike to me, but I'm no expert. Under 10x magnification I thought it had some tiny hairlines, but close inspection at 20x showed it to be die polish lines. Overall I'm quite pleased.

 

[RGT]

Go ahead and post it! I think people are in a rut lately. All AH stuff and stuff about finding fabulous things in rolls of change.

Some real coin content would be good!

 

I may do that. I tried to take some pictures with my four year old Mavica but they didn't turn out too well. I'm planning on picking up a new scanner tomorrow and see how it does. Maybe I can have something to show too.