Key Date Value Destroyed

About a month or two ago this key date coin, 1949-S Roosevelt Dime was selling for about $75 in MS65. Then this guy came along and flooded the market.

 

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Found a roll, I guess. Not surprising. Didn't 2 rolls of 1909 S VDB's get found last year? A dealer at the Central States show was talking about that.

 

If he found a roll, then paid to get them slabbed, he sure isn't going to turn any kind of a profit. Is it possible he bought an "investment lot" from an auction house, already slabbed?

 

Just looked again. He has five full eBay pages of that coin.

 

He could turn a profit if he actually "found" it. 10 bucks a coin or so. Right?

 

He'll almost certainly make a profit, he just chose a poor way of doing it listing that many all at once

 

Why would he dump that many on the market at once?

 

Wonder why the S-VDBs and this hoard of 49-S crashed the market. Neither are rare coins.

 

Bulk submission.....

 

ONLY if somebodey buys it/them! Asking price and selling are 2 different worlds!!

 

Yes, neither are rare, but as has been discussed many, many times before, it doesn't matter, especially with the S VDB. Popularity (demand) vs. supply is everything. An item, including a coin, can be as rare as hen's teeth, but if no one is (or few are) interested in buying, high prices/values cannot be supported. This is why, to pick a close to home example, you'll find certain seated dimes or half dimes near infinitely more scare than the two mentioned coins, as dates/mints, yet sell for a pittance. Nothing wrong with them, of course, but comparatively few are interested in buying them, especially if in lesser conditions.

As for "crashing the market", I'm not seeing it. Flooding the ebay market, yeah, but crashing the overall market? No... It's probably safe to say his actions haven't helped the little guys sitting on coins of this date, mint, and grade range presently trying to unload them on ebay, but to a bigger seller, slowly leaking them into the market very well may be more of a hassle than any potential rewards may be worth. Business is business, and he will likely end up, even with the flood, doing better this way than he would have wholesaling the entire lot.

 

PCGS coin facts says 80,000 estimated to exist in MS65 or better... and you think a hundred or 2 will kill the market? Heck, I say a great time to pick a few up at a good price... if I cared about dimes. Might have to buy one or two and see if they go back up when these get absorbed into the 80,000 or so already out there.

 

I say more Lincoln cent collectors keeping the prices up than Roosevelt collectors!!

 

Yeah, I kinda doubt there's a market for so many copies of one coin.

I don't know what the Pops were like before this guy, but 1949-S is now the single most common Silver Roosie in PCGS 64 & 65, the 8th-most common in 66 and the 6th-most common in 67. And the third-most common date in a PCGS slab in total. Still tough in FB, though.

Never ascribe to malice that which can adequately be explained by stupidity.

 

Maybe a "Coin Vault" off spin as they didn't sell with their commercialization!!

 

You got me curious. I looked up sales from about a "month or two" ago, and here is what I found.
MS65- $37.50
http://www.ebay.com/itm/1949-S-Roos...920020?hash=item4d4408f714:g:XwkAAOSw8vZXM7Lr

MS66- $44.61
http://www.ebay.com/itm/1949-S-ROOS...048526?hash=item542e6b7a8e:g:oxMAAOSwcL5XM8dh

MS67- $42.50
http://www.ebay.com/itm/1949-S-ROOS...136750?hash=item568695926e:g:6m0AAOSwl-FXM7V6


I'm not sure where you came up with your numbers, but it looks like he isn't crashing any markets... In fact, his prices might be a little high

 

Not really a money maker so probably not to concerned about slowly releasing them.

Very true, but I would bet hes a bulk submitter and probably has a decent amount of room in those.

 

woah... thats crazy! You know, if I had to put my money on it someone somewhere probably has the 1964 Peace Dollar in a coin collection that they inhariated, and simply does not know what they are looking at!

 

I wouldn't call this date or any other FDR a key date, as none of them are scarce except relatively, in the top census grade or as specialization. The PGCS population report currently lists 548 in MS-65 and 1356 in MS-66. A few more with FB. There must be at least 10,000 of this coin actually available in 65 or above if not far more.

 

He should've sold them all to the HSN guy for $50-80 per so they could devote an hour to the very limited quantities and charge only $199-$299 per... They'd fly off the infomercial shelves