Gold Kennedys not so hot on Ebay

Im calling bs on these sales. the last 5 raw kennedys sold for more than 2000.00 each. All the while there are numerous raw examples for sale buy it now for 1400-1500.

 

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Sorry, hit the wrong button. Mods, please remove this and the previous post if you can.

 

The administrator of this site asked the other day why I had not been to the forum in quite a while...posts like this one are part of the reason.

 

Yeah, it's quite possible that none of those sales will actually result in completed transactions. But I see cases all the time where a given coin closes at $X, when the same coin is available in multiple BINs at $X-Y. People think one seller is more trustworthy than another, or just don't pay attention.

I'm on a tablet that makes it hard to do my usual research. How many of the cheaper BINs were available when the higher-value offers closed? Remember that new listings often take a while to show up in searches.

In any event, if the number of sub-$1500 BINs increases or stabilizes, it's a sign that any initial bubble for raw coins will be very small and short-lived.

 

You were the one calling people stupid.. I just pointed out the spelling, hehe

 

I think this guy believes he bought the first 3 sold at dc. But he bought the first 3 coins of someone's submission.

http://www.ebay.com/itm/1-2-3-KENNE...99?pt=Coins_US_Individual&hash=item1c446b65d7

 

LOL! Anybody who ordered 5 would be a fool not to submit them -- there's a slight chance that you might be lucky enough to get FIVE consecutive submission numbers! That ought to be good for at least a few thousand extra bucks!

Looks like the BO that got that auction was $15K. A nice ~$10K profit for a day's work, after coin costs, submission fees, eBay and PayPal.

I can only hope that, if "there's one born every minute", there are plenty more born between now and the time that my order arrives.

 

If this is where the hobby is headed, it is doomed.

 

I'd say the hobby is still robust, and will remain so.

A lot of people will get left holding the bag when the current "Beanie Labels" ("Label Babies?") frenzy implodes, just like they did when the Hunt Brothers silver scheme imploded, or the "Rare Coins in your IRA" scheme, or any of the other fads that have come and gone.

These booms and busts have had short-term effects on the values of some nicer coins, but it seems like the long-term trends remain stable. And none of them have had much effect on the kids' Lincoln Cent folders or State/ATB Quarter collections.

Now, big chunks of the hobby rely on dealers, and some of them will likely suffer and fail as a result of the current frenzy -- again, just as they did with the silver rush, or the IRA rush. It's part of the risk of being a dealer. But, again, I think the hobby's too big to be at risk.

 

+1

 

How is this determined? I can see they accepted less than their asking price, but not what amount was accepted.

 

I don't pretend to understand the sorcerous details, but someone posted a link to this tool:

http://www.watchcount.com/

Paste in the number of a completed OBO auction, and it'll reveal the actual accepted offer, and even the history of declined offers. It looks like it's using the old eBay search facilities, which are no longer linked from eBay itself, but apparently are still "live". There's no telling how long it will continue to work.

 

Thanks - very interesting!

 

The Mint updated the shipping date on Kennedys. Looks like they will be ready to ship tomorrow. Any remaining premium will evaporate. I wonder how long before they sell for a bit over melt.

And I also wonder how long before the 2009 UHRs come down to match the premium on an AGE. I've been waiting to buy one for a while now. : )

 

The one Kennedy coins that are not being talked about are the P&D two coin set. Allegedly, the mint only had 200 of these on hand each day and were limiting them to two per customer. During the show, I was hearing about dealers paying about $40-50 per set. On the third day, I finally was able to stand in this line (after standing in the gold line for 17 hours!!!). As I was waiting (for another 2 hours) some people came around passing out flyers saying that a dealer was paying $125 per set. Thinking this was an error, I immediately got my two coin sets and ran over to the dealer's table where he promptly paid me $250. Unbelievable!

 

Percentage wise, this was a better deal then the GOLD! (LOL)

 

Yes. This particular "part" of the hobby but not the hobby itself.

THAT would require the elimination of coins in favor of plastique!