Oly's wrong again (as usual)

Here's a question I'd like to see some opinion's on.
If a rare coin such as the 1909 S VDB mentioned by Ira sells in the current
market at around let's say $5,000 and Oly thinks that's way over priced for
a piece of bronze in a plastic holder...
Then what should it be worth? Taking into account:
- Age of the coin
- It's Condition
- Number of collectors seeking it
- And any other variable that may be part of the question.

Don

"RF" wrote in message
...
"oly" wrote in message
...

I would rather have 5,500 one-hundred dollar bills or 70 to 75 ounces
of fine gold than one of the OP's "rare-in-this-condition" bronze and
plastic abortions. Gold will do very well in our "Paulson Bailout"
financial system.

Gold is tanking right now and, if it drops anymore like it did today,
panic selling may start.
I suspect the "Paulson Bailout" will eventually turn out to be wildly
inflationary as the gubmint cranks out FRNs to cover its debts.
Such a scenario should be good for gold and silver.
Speaking of dropping PM prices, I wonder if the US Mint will now LOWER the
prices of its products as quickly as they raised them?

Wishful thinking! That would be Warren Buffet territory. If the Mint did
that, it would REALLY get into trouble, supply-wise. Just like that barrel
of crude today lowering to $67 and gasoline averaging $2.88. The last time
oil was on the upswing at $67, a gallon of gas was less than $2.00.

"oly" wrote in message
...
On Oct 22, 4:48 pm, "Robert Dibbell"
wrote:
It's also a funny thing that the perception of a problem in any financial
market throws the Dow Jones into the toilet. It used to be that if Alan
Greenspan coughed, the Dow would go up or down 100 points depending upon
how
sick he might have sounded. Bernake, unfortunately, does not wield the
same
power.

I said perception because, while we do have a crisis in the housing and
mortgage markets, business outside the financial sector is fundamentally
sound. Yet stocks like Coca-Cola and Disney are way down. Last time I
checked, there were still millions of people drinking Coke products. Panic
in the streets, especially Wall Street isn't helping.

Bob

"RF" wrote in message

...



"Ira" wrote in message
...
Yet rare coins and key coins, certified by the top grading company,
have increased in value considerably over the past two years (and
longer) with no evidence of buyers fleeing.

The rare coin market has gone thru bullish periods in the past.
Right now it seems to be in an extended bull market.
TPG Canadian coins are going thru the roof.
Meanwhile, precious metals are tanking (like almost all commodities.)
Funny thing is how much of a premium folks are paying for bullion gold
coins and junk silver on eBay.- Hide quoted text -

- Show quoted text -

Yes, the guys on Wall Street think things are "fundamentally sound",
which is of course why the DJIA is down 36% year-to-date, much of that
loss in the last six weeks.

But it's good to work for a government contractor, no doubt. Bank
examiners are in great demand too.
____________

Not bad being a retired Fed govt employee, either. No worries about being
laid off, a secure pension and health benefits, and a relatively nice 5.8%
COL raise next year. Being old enough to have learned how to adapt and
sacrifice during hard times is coming in handy today. Too many of the
contractors I once envied for their lofty salaries and benefits back in my
work years are now laid off or have had their pensions/benefits reduced and
even eliminated. Something to be said for that tortoise and hare fable.

Donald Weber wrote:
Here's a question I'd like to see some opinion's on.
If a rare coin such as the 1909 S VDB mentioned by Ira sells in the current
market at around let's say $5,000 and Oly thinks that's way over priced for
a piece of bronze in a plastic holder...
Then what should it be worth? Taking into account:
- Age of the coin
- It's Condition
- Number of collectors seeking it
- And any other variable that may be part of the question.

Don






I don't think he mentioned a 1909 "S" VDB.
And the price was $55,000, IIRC.

"Edwin Johnston" wrote in message
...
Donald Weber wrote:
Here's a question I'd like to see some opinion's on.
If a rare coin such as the 1909 S VDB mentioned by Ira sells in the
current market at around let's say $5,000 and Oly thinks that's way over
priced for a piece of bronze in a plastic holder...
Then what should it be worth? Taking into account:
- Age of the coin
- It's Condition
- Number of collectors seeking it
- And any other variable that may be part of the question.

Don






I don't think he mentioned a 1909 "S" VDB.
And the price was $55,000, IIRC.

In Ira's original post he described a 1909-S VDB which he sold for $5200.
The $55,000 price was in regard to a 1909 VDB matte proof.

As for the above questions, the coin's value is whatever people are willing
to pay for it. In this case, the 1909-S VDB has an established price
history in its various conditions, and that's theoretically what it should
be worth. The variables mentioned have long ago been factored into the
price.

The fact that it's just a piece of bronze with a $5,000 price tag has no
more bearing than the shiny hunk of carbon with a $100,000 price tag or the
piece of canvas covered with a couple bucks worth of pigment with a $5
million tag.

Bruce Remick wrote:
"Edwin Johnston" wrote in message
...
Donald Weber wrote:
Here's a question I'd like to see some opinion's on.
If a rare coin such as the 1909 S VDB mentioned by Ira sells in the
current market at around let's say $5,000 and Oly thinks that's way over
priced for a piece of bronze in a plastic holder...
Then what should it be worth? Taking into account:
- Age of the coin
- It's Condition
- Number of collectors seeking it
- And any other variable that may be part of the question.

Don





I don't think he mentioned a 1909 "S" VDB.
And the price was $55,000, IIRC.

In Ira's original post he described a 1909-S VDB which he sold for $5200.
The $55,000 price was in regard to a 1909 VDB matte proof.

As for the above questions, the coin's value is whatever people are willing
to pay for it. In this case, the 1909-S VDB has an established price
history in its various conditions, and that's theoretically what it should
be worth. The variables mentioned have long ago been factored into the
price.

The fact that it's just a piece of bronze with a $5,000 price tag has no
more bearing than the shiny hunk of carbon with a $100,000 price tag or the
piece of canvas covered with a couple bucks worth of pigment with a $5
million tag.





I stand corrected, after becoming somewhat stupified by an array of
numbers while being drawn into Ira's hit piece in praise of selling high
end 1909 Lincoln cents.

Here's the numbers:
A couple
MS-65
1909S
$5200
one
$5000
3c
one
seven
two
1909-S
one
$7400
few
$740/oz
two
two
MS-64RB
1909
$9300
$9800
$28,000
third
Proof-65
$55,000
3c
eleven
three

Before signing his missive, Ira's number references were about 10% of
all words typed. You don't need to be a postmodern deconstructionist to
understand where his head is at.

On Oct 22, 11:10*pm, Edwin Johnston wrote:
Bruce Remick wrote:
"Edwin Johnston" wrote in message
...
Donald Weber wrote:
Here's a question I'd like to see some opinion's on.
If a rare coin such as the 1909 S VDB mentioned by Ira sells in the
current market at around let's say $5,000 and Oly thinks that's way over
priced for a piece of bronze in a plastic holder...
Then what should it be worth? Taking into account:
- Age of the coin
- It's Condition
- Number of collectors seeking it
- And any other variable that may be part of the question.

Don

I don't think he mentioned a 1909 "S" VDB.
And the price was $55,000, IIRC.

In Ira's original post he described a 1909-S VDB which he sold for $5200.

"oly" wrote in message
...
On Oct 22, 4:48 pm, "Robert Dibbell"
wrote:
It's also a funny thing that the perception of a problem in any financial
market throws the Dow Jones into the toilet. It used to be that if Alan
Greenspan coughed, the Dow would go up or down 100 points depending upon
how
sick he might have sounded. Bernake, unfortunately, does not wield the
same
power.

I said perception because, while we do have a crisis in the housing and
mortgage markets, business outside the financial sector is fundamentally
sound. Yet stocks like Coca-Cola and Disney are way down. Last time I
checked, there were still millions of people drinking Coke products. Panic
in the streets, especially Wall Street isn't helping.

Bob

"RF" wrote in message

...



"Ira" wrote in message
...
Yet rare coins and key coins, certified by the top grading company,
have increased in value considerably over the past two years (and
longer) with no evidence of buyers fleeing.

The rare coin market has gone thru bullish periods in the past.
Right now it seems to be in an extended bull market.
TPG Canadian coins are going thru the roof.
Meanwhile, precious metals are tanking (like almost all commodities.)
Funny thing is how much of a premium folks are paying for bullion gold
coins and junk silver on eBay.- Hide quoted text -

- Show quoted text -

Yes, the guys on Wall Street think things are "fundamentally sound",
which is of course why the DJIA is down 36% year-to-date, much of that
loss in the last six weeks.

But it's a smaller loss than expected
so it's "well actually" almost a gain. It's not
Hankies fault that wallstreet can't see his
sparkling Goldman talent in action. They should
try popping more Prozac while mumbling repeatedly
"All that we see or seem is but a dream within
a dream."--Edgar Allan Poe
They should also be nice to any ravens they see while
repeating that; they might be Goldman "talent" incognito,
awaiting Hank to reanimate them for a post in the
wallpaper department.

But it's good to work for a government contractor, no doubt. Bank
examiners are in great demand too.

oly
Goldman probably does that too.

On Oct 22, 8:50*pm, "Bruce Remick" wrote:
"Edwin Johnston" wrote in message

...





Donald Weber wrote:
Here's a question I'd like to see some opinion's on.
If a rare coin such as the 1909 S VDB mentioned by Ira sells in the
current market at around let's say $5,000 and Oly thinks that's way over
priced for a piece of bronze in a plastic holder...
Then what should it be worth? Taking into account:
- Age of the coin
- It's Condition
- Number of collectors seeking it
- And any other variable that may be part of the question.

Don

I don't think he mentioned a 1909 "S" VDB.
And the price was $55,000, IIRC.

In Ira's original post he described a 1909-S VDB which he sold for $5200.
The $55,000 price was in regard to a 1909 VDB matte proof.

As for the above questions, the coin's value is whatever people are willing
to pay for it. *In this case, the 1909-S VDB has an established price
history in its various conditions, and that's theoretically what it should
be worth. *The variables mentioned have long ago been factored into the
price.

The fact that it's just a piece of bronze with a $5,000 price tag has no
more bearing than the shiny hunk of carbon with a $100,000 price tag or the
piece of canvas covered with a couple bucks worth of pigment with a $5
million tag.- Hide quoted text -

- Show quoted text -

The prices Ira quotes are NOT "long ago" factored into the "value"
equation - the coin market phenomena he is playing is maybe 20 years
old at most - it is largely post-1990 anyway.

Diamonds, while obviously supported in price by a cartel, can oft' be
used to coax the favors of women at least. That is a kind of
practical value. No excuse for modern art, however.

oly

On Oct 23, 7:57*am, oly wrote:
On Oct 22, 8:50*pm, "Bruce Remick" wrote:





"Edwin Johnston" wrote in message

...

Donald Weber wrote:
Here's a question I'd like to see some opinion's on.
If a rare coin such as the 1909 S VDB mentioned by Ira sells in the
current market at around let's say $5,000 and Oly thinks that's way over
priced for a piece of bronze in a plastic holder...
Then what should it be worth? Taking into account:
- Age of the coin
- It's Condition
- Number of collectors seeking it
- And any other variable that may be part of the question.

Don

I don't think he mentioned a 1909 "S" VDB.
And the price was $55,000, IIRC.

In Ira's original post he described a 1909-S VDB which he sold for $5200.