Is the market for nice common or slightly better date Walkers weak now? I was shocked when running a number of nice MS65 pieces, mostly or all white in NGC and PCGS slabs selling for around $100, when Greysheet was up to $180 plus. I could provide auction pictures if that would help.
Dates and mints your asking about would be more useful, but around $100 seems to be the going rate for more than a few in 65.
It does seems like Walkers have made another move lower. In last weeks CDN (I believe it was last weeks, maybe the week before) they mentioned something to the effect that common date Walkers took another 10% hit. If you look back 5 to 6 yrs you'll see they've considerable valuation, some as much as 40% or more. Granted, better date Walkers will not have lost as much but the entire "sector" (...if you will) seems to be in the throes of a multi-year funk.
Any idea what is causing the decrease in values? I wouldn't think there would be less demand than other coin series'
The market is weak right now and I'm using it to my advantage. I think the PM market swings have taken the spotlight away from key date walkers. I've been able to almost complete my collection for reasonable prices, I got the 1921 in XF for $80.00, the 1938 D for $55.00 and all I need now is the 1921 D, which I'm trying to get in XF for around $150.00. Nice time to be buying.
I sure liked the great deal I got on a 43-S in MS66 yesterday. But sure don't like what its doing to all the MS65's I already have.
I would "wonder" about two things. One, is the PM parade happening lately draining funds and causing dealers to sell more common dates to be able to be more liquid for more PM purchases. This happens with proof sets, the dealer figure they can always replace these when the PM boom ends, so simply sell common stuff to raise funds. Two, I wonder specifically how much 25 years of ASE have had on WL halves. Face it, many who would be collectors of WL halves are today collecting these ASE's. I know, the halves reverse is much more desirable, but I still wonder how much affect this is, and how much the mint is taking away from collectors of their older products. Chris
I would say your first "wonder" can be summed up simply as supply and demand. Coins go thru fads and fall in and out of favor over time, which was what I chalked up as the reason for Walkers moving lower. However, your second "wonder" is brilliant. It never once occurred to me that ASE's might be cutting into Walkers but now that you bring it up I think it may be spot on. However, I doubt it fully explains the drop, it certainly may be a factor in the decline.
Thanks for the feedback here. But I don't see the availability of nice, white or lightly toned and "CAC", Walkers, Washington quarters(early years), or better Morgans at much below bid at shows or online.
They certainly are on Heritage. But I can also understand why more than a few dealers would have them priced higher. For one thing many dealers "live" by the Grey Sheets. For another thing, dealers tend to offer their wares priced with a profit built in, regardless of the what the current market value may be. In other words, even when prices fall, many dealers tend to hold their asking prices at previous highs because they are not willing to take the loss. If they paid $150 for the coin you can bet they are going to ask $180, even when the same coin can bought for $100. And they will not change their asking prices until the prices fall even further and they are forced to finally accept what is happening in the market. It's called denial. Many people just can't get past it. And it's not just Walkers guys, this drop in prices is market wide and has been since late 2008.
That statement may apply to some segments of the coin market, but certainly others have nearly doubled and/or tripled in that same time frame. Common date MS64 and MS65 Morgans are a great example.
I would also add "market wide" better mean US coins, since ancients have been nothing but up the last 4 years, unfortunately for us still buying. Chris
I would think novice collectors/ hoarders/ investors buying ASE's for years might become interested in the WL half and be buyers of common MS-65's...once they learn you can't get MS-69's and 70's
I don't see the availability of nice MS65 Walkers or Morgans for much under GS bid, and never CAC, which there is a strong market for. Quite a shock to see those coins selling for around $100. These are classic coins where there is always a good market. Lesson many people have learned the hard way: never run unreserved coins at auction unless it's a "sure thing".
