If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. |
|
|
|
Thread Tools | Display Modes |
#1
|
|||
|
|||
Coin Show
Just wondering if anyone went to the Long Beach coin show today. If
so, anything interesting? Like prices down? Seems like the eBay bids on most coins I follow are way down. |
Ads |
#2
|
|||
|
|||
Coin Show
|
#3
|
|||
|
|||
Coin Show
I was not there but have heard reports of some dealers selling coins
at a loss to get some cash flow moving, closing their tables and taking the coins around to other dealers at the show who are better financed. |
#4
|
|||
|
|||
Coin Show
On Feb 5, 9:39*pm, wrote:
Just wondering if anyone went to the Long Beach coin show today. *If so, anything interesting? *Like prices down? *Seems like the eBay bids on most coins I follow are way down. Ebay is not a reliable indication of the coin market, because there is no longer any trust factor, since buyers expect most of the coins to be overgraded or counterfeit, and even no longer trust slabbed coins. When a PCGS Proof 68 1964 Washington quarter which I paid $35 for at a show brings $8.49 on eBay, most sellers would be better off wholesaling their inventory. http://cgi.ebay.com/ws/eBayISAPI.dll...m=190282580493 -- RARE COIN AUCTIONS NO RESERVES www.frankcoins.com http://myworld.ebay.com/frankcoins Texas Auction License 11259, Board member of Texas Coin Dealers Association, Member TNA, ANA, PCGS, NGC - Full Time Since 1991 |
#5
|
|||
|
|||
Coin Show
"Frank Provasek" wrote in message ... On Feb 5, 9:39 pm, wrote: Just wondering if anyone went to the Long Beach coin show today. If so, anything interesting? Like prices down? Seems like the eBay bids on most coins I follow are way down. Ebay is not a reliable indication of the coin market, because there is no longer any trust factor, since buyers expect most of the coins to be overgraded or counterfeit, and even no longer trust slabbed coins. When a PCGS Proof 68 1964 Washington quarter which I paid $35 for at a show brings $8.49 on eBay, most sellers would be better off wholesaling their inventory. http://cgi.ebay.com/ws/eBayISAPI.dll...m=190282580493 Do you really think you'd do much better with that particular coin at a show? Factoring in the shipping charge, someone spent $12.50 for a coin that would have been tossed in the melting pot with circ 1964 quarters a short while ago. I'm actually surprised that there's still $12.50 worth of demand for that date in PR68. I'm also surprised that anyone would spend the money for slabbing fees, shipping, and insurance to have this one slabbed and still expect to sell it for a profit. I've bought most of the common date PCGS PR67 & 68 Roosevelts in my set on eBay for half of the PCGS price guide or less. On the other hand, with choice older coins I am finding that I often have to pay more than price guide for a raw, choice 1830's large cent for instance. Supply and demand, I suppose. And eBay doesn't seem to be scaring buyers for these older coins away, whenever they find a nice one. I don't think it's a fair or accurate statement to condemn eBay based on what YOU believe buyers/bidders expect. Do you have special powers that allow you to determine that buyers no longer trust slabbed coins on eBay as well? |
#6
|
|||
|
|||
Coin Show
Frank Provasek wrote: Just wondering if anyone went to the Long Beach coin
show today. If so, anything interesting? Like prices down? Seems like the eBay bids on most coins I follow are way down. Ebay is not a reliable indication of the coin market, because there is no longer any trust factor, since buyers expect most of the coins to be overgraded or counterfeit, and even no longer trust slabbed coins. When an eBay buyer wins an item for X, there is often an underbidder who was willing to pay X minus Y. Everything else being equal, I would expect to get X minus Y for an example that I listed, or close to it. In that sense, eBay is indeed an indication of the coin market. If you want to argue over the term "reliable," when is the last time that anything in a collectables market was "reliable"? You can price your coins by any guide that you wish, including your own whim, but there's no guarantee that your coins will go away, is there? When a PCGS Proof 68 1964 Washington quarter which I paid $35 for at a show brings $8.49 on eBay, most sellers would be better off wholesaling their inventory. http://cgi.ebay.com/ws/eBayISAPI.dll...m=190282580493 I sure hope you're around when I'm ready to sell my PR68 Washingtons. Since you yourself just stated that eBay is not a reliable indication of the coin market, you should be willing to pay me, oh, say, close to $35 for one of mine, since you have set the precedent. Something tells me, though, that your 1964 sat in your case for a month of Sunday coin shows, and you finally got tired of hauling it around. The $8.49 price realized is what you got for being impatient. James |
#7
|
|||
|
|||
Coin Show
"Frank Provasek" wrote in message
... Ebay is not a reliable indication of the coin market, because there is no longer any trust factor, since buyers expect most of the coins to be overgraded or counterfeit, and even no longer trust slabbed coins. When a PCGS Proof 68 1964 Washington quarter which I paid $35 for at a show brings $8.49 on eBay, most sellers would be better off wholesaling their inventory. ebay isn't a reliable indicator because you couldn't sell a coin for more than you paid for it, is that your position? I'm generally pleased with my ebay transactions and basically trust those seller that have good feedback. Did it occur to you that you wildly overpaid for said coin? Furthermore, does it occur to you to set a minimum price that ensures you won't take a loss on a deal? ebay keeps kicking you in the ass but you keep going back, what does that say about you? |
#8
|
|||
|
|||
Coin Show
"Mr. Jaggers" lugburzman[at]yahoo[dot]com wrote in message
... When an eBay buyer wins an item for X, there is often an underbidder who was willing to pay X minus Y. Everything else being equal, I would expect to get X minus Y for an example that I listed, or close to it. In that sense, eBay is indeed an indication of the coin market. That doesn't take "auction fever" into account. Over the years I've seen many items go for wildly high prices and a similar item sell for a fraction of that just days later. Auction fever is the main reason I snipe at the last possible second - not only does no one else get to bid up the item but, if my bid isn't high enough, I also don't have time to up my bid. That's saved me a homely penny over the years Anyhoo... One has to wonder why Frank sells on eBay. According to him they've booted him off and cancelled his auctions almost innumerable times. Now he claims eBay is at fault because his coins don't sell for more than he paid for them. Seems to me that is more a reflection of his abilities as a coin dealer than a fault of the auction site. Every day 1000's of folks buy and sell stuff on eBay, the vast majority of them happy as clams. So why is Frank always whining? |
#9
|
|||
|
|||
Coin Show
RWF wrote:
"Mr. Jaggers" lugburzman[at]yahoo[dot]com wrote in message ... When an eBay buyer wins an item for X, there is often an underbidder who was willing to pay X minus Y. Everything else being equal, I would expect to get X minus Y for an example that I listed, or close to it. In that sense, eBay is indeed an indication of the coin market. That doesn't take "auction fever" into account. Over the years I've seen many items go for wildly high prices and a similar item sell for a fraction of that just days later. Auction fever is the main reason I snipe at the last possible second - not only does no one else get to bid up the item but, if my bid isn't high enough, I also don't have time to up my bid. That's saved me a homely penny over the years Anyhoo... One has to wonder why Frank sells on eBay. According to him they've booted him off and cancelled his auctions almost innumerable times. Now he claims eBay is at fault because his coins don't sell for more than he paid for them. Seems to me that is more a reflection of his abilities as a coin dealer than a fault of the auction site. Every day 1000's of folks buy and sell stuff on eBay, the vast majority of them happy as clams. So why is Frank always whining? My problem with all this rears its head whenever someone sez that such-and-such a price oracle is wrong, wrong, wrong. I've yet to see one that is right, right, right. In the area of early copper, for instance, I can almost always gather together six or seven "price guides" and find a range of 3X for the exact same coin. So, who is right, and who is wrong? Or should I just trust the dealers at shows to teach me the correct prices for coins? They are hardly impartial guardians of Truth. Most any disquisition on coin prices ends up being a load of BS anyway, including this one of mine. James |
#10
|
|||
|
|||
Coin Show
"Mr. Jaggers" lugburzman[at]yahoo[dot]com wrote in message ... RWF wrote: "Mr. Jaggers" lugburzman[at]yahoo[dot]com wrote in message ... When an eBay buyer wins an item for X, there is often an underbidder who was willing to pay X minus Y. Everything else being equal, I would expect to get X minus Y for an example that I listed, or close to it. In that sense, eBay is indeed an indication of the coin market. That doesn't take "auction fever" into account. Over the years I've seen many items go for wildly high prices and a similar item sell for a fraction of that just days later. Auction fever is the main reason I snipe at the last possible second - not only does no one else get to bid up the item but, if my bid isn't high enough, I also don't have time to up my bid. That's saved me a homely penny over the years Anyhoo... One has to wonder why Frank sells on eBay. According to him they've booted him off and cancelled his auctions almost innumerable times. Now he claims eBay is at fault because his coins don't sell for more than he paid for them. Seems to me that is more a reflection of his abilities as a coin dealer than a fault of the auction site. Every day 1000's of folks buy and sell stuff on eBay, the vast majority of them happy as clams. So why is Frank always whining? My problem with all this rears its head whenever someone sez that such-and-such a price oracle is wrong, wrong, wrong. I've yet to see one that is right, right, right. In the area of early copper, for instance, I can almost always gather together six or seven "price guides" and find a range of 3X for the exact same coin. So, who is right, and who is wrong? Or should I just trust the dealers at shows to teach me the correct prices for coins? They are hardly impartial guardians of Truth. Most any disquisition on coin prices ends up being a load of BS anyway, including this one of mine. Ultimately the price of any object is that which someone is willing to pay at a given point in time. Today's paper costs 50 cents, tomorrow it's worthless, 100 years from now it may have collector value. (Unless, of course, Fwankie goes to sell it on eBay, in which case he'll lose money - poor baby!) |
|
Thread Tools | |
Display Modes | |
|
|
Similar Threads | ||||
Thread | Thread Starter | Forum | Replies | Last Post |
Is your club holding a coin show? Collector Coin News wants to know. | Cliff Lawless | Coins | 0 | March 26th 06 03:30 PM |
BIG COIN SHOW, BIG CARD SHOW, XBOX FOOTBALL TOURNAMENT! | acardworld | Coins | 0 | February 5th 06 07:01 PM |
Coin show proves popularity of coin collecting | stonej | Coins | 1 | June 15th 05 02:43 AM |