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Profit Taking?

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It wouldn't hurt my feelings if some prices cooled down some. There appear to be alot of high dollar coins in the Heritage signature auction coming up, do you feel this is another example of profit taking occuring?

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I saw that post also. It got me thinking. With the ANA coming up in Baltimore, much fanfare as to the auctions with over $30 million going on the auction block,not to mention super priced coins on the bourse, is the money to buy these coins out there? When my realtor told me housing prices are up, but many houses are falling out of escrow, that leads me to believe something is up with money. Not coins in particular, just a slow tighten of funds, by banks, by the average joe. Just makes me wonder.



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I wanted to write more last night and this morning but I have been on the constant go. In a previous post I mentioned that I had a feeling that the market would go down and of course that remains to be seen but...


...It could be that some collectors are locking in profits.


...Auctions appear to be a hot place to sell coins right now. Some coins are going way over their worth. Could collectors/dealers be using Auctions due to the hot auction action as of late?


While we are on the topic of profit taking, I always wondered what dealers CDN and other price lists use. I have been doing a great deal of research on coins and coin prices in recent months and have found, in some cases, a huge price difference when it comes to coins of the same grade. Some dealers are looking for over 35%+ over list. (Not including toned coins). I'm not saying a dealer shouldn't be able to put whatever price they want for the coins but I know many of the savvy coin collectors out there will realize that the "coin" is overpriced and will negotiate with the dealer or shop around for a better price. Someone who may not be too familiar with coins, may end up paying that 35%+ more for the coin.


Which brings me to my question. If CDN is using dealers that mark up their prices such as the above example, and someone happens to buy a batch of coins priced over "list", couldn't that cause an artificial price increase on CDN.


Is it possible that the following scenario could happen? Are there any steps taken to avoid a situation like this: A dealer who is looking to unload a certain type of coin can report (erroneously) that sales of that coin have been amazing, way over list and when CDN reports on it, they can profit from selling those coins.


I'm not trying to be a conspiracy theorist but figured it might bring some good discussion and a good education.




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