The Collapse of NORFED premiums on eBay

Law doesn't even matter anymore, we are living in a police state. Juries will convict almost anyone whether the law says to or not, or whether there is reasonable doubt or not.

Lots of innocent people in prison, and even more in prison for crimes that have not hurt anyone. Just remember that most juries are going to be filled with sheeple who have no interest or even the concept of liberty in their mind.

 

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Your ideas may happen at some point but for right now they are premature. BTW, have you ever owned any Norfeds or do you just enjoy being pompous?

 

LA Times, 8/31/2004: "Bubble bursts on Beanie Babies" Thomas S. Mulligan
http://seattletimes.com/html/businesstechnology/2002020751_beaniebabybubble31.html

It's easy to see how Notthouse replicated Warner's ploy for 'collectibility' by instructing the Sunshine Mint to make errors and low mintage varietals.

'Peanut the Elepahant' is RARE ..."it could be worth $5,000+" ... and can now be purchased on eBay for ~$15. (That's a whopping -99.5% LOSS on that $3,005. investment, fwiw)
http://www.smartcollecting.com/newsresults.asp?ID=55

COMPARE:
Apparently the "highest known eBay sale" for a Norfed Silver 1 ozt round is $1,925 on 6/19/2011 (POS @ $35.39) Last eBay auction price for the same 'rarity' was $83 on 11/28/2012, a -95.7% decline from the Peak just ~18 months earlier.

NEWSFLASH: ..... the Norfed BUBBLE POPPED already! IF you could sell it now at $32.50 ozt, that's a carried LOSS of -98.31%.
(As I wrote, so it should be obvious: "premiums have collapsed.")

 

Juan, the rendition of Lady Liberty on the Liberty Dollar is one of the most beautiful I have ever seen. Proof struck with mirror fields, strand of hair loose from the bun, chin upwards / dignified profile; it really is a work of art.

 

John14-
We'll just have to agree to disagree on that - and I will hold my peace on the aesthetic question, in respect for you.
But I did appropriately post this OP in the "Bullion Investing" forum, and that was my exclusive focus here.

 

I cannot find Norfeds on Teletrade, Webstore, eBid, Coins Auctioned, Coinshop, Ubid, Liveauctioneers, icollector ... it looks like every US bidding site has now banned or restricted any Norfed coin auctions.

Legit coin dealers who previously SOLD Norfeds now won't. They post warnings like this, instead.
http://coin-shop.com/norfed.html

So desperate sellers (a few anyway, still asking absurd prices) are now begging erratically on CraigsList. The word is out...

 

:dead-horse: Well, there is no lie too big, no injustice too large. When it comes to protecting the tyrants infesting the gooberment.

 

They can still be purchased from Amazon. Amazon does not sell illegal items. Again you try to make a point that reality doesn't support.

 

On the other hand, I've seen very few for sale on any coin site. They are not that common and people tend to hold on to them for the notoriety as I said in my original post in this topic. So your conclusion based on lack of places to buy them is also incorrect.

 

Oh no... relegated to the back alleys of inner city ghettos. "Psssst... hey buddy... you wanna Norfed?"

 

LOL There are only eight (8) sale items from a total of TWO (2) "dealers" @ Amazon.

Doesn't appear these vendors are long-standing or reputable coin-brokers, either. There are more auctions slipping past netnanny at FleaBay, honestly.
That doesn't make anything 'legit' or legal either.

Not the inner city, jloring LOL

I wanna to see a "Top 10 List of Places to Buy/Sell Norfeds" ...

 

It still disproves your statement. How many coin shows do you attend in a year?

 

Juan, that is my point exactly. No one thinks of these as real money, or money that is going to replace US currency. I keep my collection on spreadsheets for easy reference. Which spreadsheet did I put Liberty Dollars on? The one titled “silver rounds”. Now I have silver rounds that are bought and sold close to spot, those I consider bullion rounds. Like I said, the cheapest NORFED I’ve seen for sale lately is almost double spot; making it a collector round. No one buys collector rounds for bullion investing. – This is why the thread does not make sense to me.

 

john14-

Norfeds started as a currency scam and didn't get any better than that, sadly.

No one paid $600. - $ 3,005. for 'Peanut the Elephant' expecting to see that cute li'l plushie sell (or not) for ~$15. a decade later. But the Feds didn't arrest H. Ty Warner neither!
http://articles.sun-sentinel.com/19...0322_1_beanie-baby-teenie-beanies-comic-books

I stand corrected - Forbes Magazine quoted 'Peanut' at $5,200 in April 1998 "and estimate the price could go to $7,500 a decade from now." (circa 2008)
http://www.forbes.com/forbes/1998/0406/6107045a.html

Beanies were a deeply delusional mania rather than a investment bubble (perhaps) but we're quibbling here. Norfed "premiums" show pretty much the same collapse, sorry.

And some never got the memo, can't hurt for TRYIN' eh?
http://www.ebay.com/itm/TY-PRINCESS-Beanie-Baby-RARE-Investment-Opportunity-Purple-Bear-PVC-Indonesia-/271034879122

 

Juan, that same argument / comparison can be used for all collectibles. When I was a kid, My Dad gave me a 6-pack of “Billie Beer”. Used to be very valuable, now worthless. I’m saying you can’t compare collectibles with bullion investing.

 

"Billy Beer" pet rocks and trolls. Now that would make a well-diversified portfolio
Srsly, keep a single Norfed and unload the rest asap. There's better (more liquid) bullion to collect, I think.

 

True... however, Juan does have a point that eBay itself is a driving force in determining price of collectibles, whether it be a beanie or a coin. Norfeds became "collectible" as opposed to just bullion. If the driving force is removed, the price will drop towards the intrinsic value. Without a venue where demand exceeds supply, a collecible becomes just another semi-worthless item. Opprutunists take advantage of this (as long as their crystal ball is in working order).

 

I agree with that jloring, so why is this thread in the bullion investing forum?

 

I wonder how many of us coin collectors have actually owned in the past or currently own Norfeds?? Sometimes people approach in the guise of trying to help other people when all they're really doing is being a troll. Are you a past owner j. blanco, current owner or never owned?

http://www.indianapolismonthly.com/features/story.aspx?ID=1725808

 

Guess I'm a desperate, illegitimate dealer begging to sell norfeds on the BST forum
There's definitely a trend to the posts of yours that i've read on the pm forum.
If people want to collect norfeds or beanie babies, what's it to you?