Recent bidding on Great Collections

I remember someone started a thread about how foolish some of the people bidding on Great Collections are ; couldn't find it. I was just curious if I am the only one having this recent experience. I am seeing coins sell for far more than they have sold for before. I am pretty good at variety detection so I don't think this is it. Also, I don't track more than a handfull of coins so my results may be singular. Having said that, and without getting specific, I watched 6 different coins, all fairly common date Barbers & Seateds sell for way more than i expected.
One coin, a barber Half, had sold for $185 in August; had never sold for over $200: was relisted and sold for over $350 with fees. Another coin, previously sold twice in the last year for under $200; sold for almost $400. I could go on.
I can only speculate that there are people who are jumping into silver coins and must think there is nothing but skyrocketing prices ahead. James

 

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I think you're looking for this thread: https://www.cointalk.com/threads/gr...llections-bidders-again.419431/#post-26449077

 

I know I'm seeing a lot of that right now... At first it was a boon... lots and lots of silver dumped into auctions but the bidiots have been driving up the prices everywhere and there no reason for it but as you suggested they must be expecting a second skyrocket/bubble... Ah well.. it should smooth out soon i hope.

 

Yeah, I bid on a 1900 25c NGC MS62 a couple weeks ago. Numismedia says $300, even inflated PCGS price guide says $430. It sold for $647 with premium. No toning, possibly undergraded but that's MS64 money. Bidder 2 put in a max bid 11 days prior and everyone else got outbid by that to the very end. Somebody came in during the last 15 seconds with $550 thinking they would snipe it, nope. Crazy.

Can't be the silver price - there's only $15 worth in a quarter and $30 in a half. People with more money than sense perhaps.

 

I've disliked auction prices for years. I've bid a ton of money during the past 30 days and have ended up with nothing. My bids were equal to or higher than the PCGS price guide.

 

I've seen some high results lately but also have seen them in prior years. It does seem like there are more high results for common coins (meaning coins that have just average eye appeal and not higher end toners nor super lustrous blast white coins).

Sometimes I wonder if I missed an obscure variety. Other times it almost seems like someone made a mistake or two people put in crazy amounts in the end not expecting the other to be there bidding. Over the last few months, I could also see some of the high bids coming from people that sold off their bullion for high prices and are either chasing the next "big" gain or filling spots in their collection with their newly gained funds.

 

I just hope that I didn't influence this notation.

 

I just took a look at Great Collections. Too rich for my blood. I have to spend my money on my car.

 

As a seller last fall I had no complaints from the auction results. As a buyer that's a different story. Nowadays I tend to look for MS65 or higher coins. Bids seem to be at the very top or over the top of previous auction prices. But given the inflationary trends of our economy wouldn't one expect this?

 

@wxcoin . I might expect something like a 5 or even up to 10 percent climb adjusting for inflation but I have rarely seen coins practically double in less than 6 months. james

 

If it's a unique coin or tough-to-get coin that could/should explain the pricing.

For common coins that you see all the time -- in my case, common Saints in Gem Quality grade -- I see pricing holding to FMV with pretty good consistency. Even for higher grades -- MS-66 and MS-67 -- where the reserve or starting bid is too high, I see it going without any activity. I am not seeing "stupid" buyers pay above market.

Here's another reason for the higher bidding: in ABSOLUTE $$$, the price is still affordable. Alot of new collectors or new keyboard players would rather pay $750 for a coin worth $400 than get a 5% discount on a coin that will cost $4,800. During Covid, we saw "affordability" buyers drive up the prices of some coins as well as Large Denomination Currency bills in mid-grades, where they were affordable. I believe Morgans under $300 also saw big interest.

 

Which coin(s) ?

 

I don't see prices moving up because of inflation but because of coin supply and demand.

Recall that I have seen a big jump for the 1908 NM Saint I want with certain pedigrees (holder, CAC, grade, etc.). But generic MS-65/66's pretty much at FMV.

 

Go to the Great Collections archive and look up recent sales of Barber coins. James

 

Sorry, forgot to put the @GoldFinger1969 .

 

I don't follow that series but I'll try and take a look.

 

Since I really only watch and bid on Barbers (occasionally Canadian) maybe a factor in our observations about GC prices is that the series is starting to get more attention from collectors? The series has been poo-pooed for decades. Membership in BCCS has been flat for a while though. Also, perhaps a factor is the premium as low as 10% using eCheck whereas Heritage is 22% now. Bidders maybe feel like they have more $ to spend there, although that would only account for a small piece of it.

 

As GDJMSP has said, we were in a long-term bear market for U.S. coins from about 2008-20. I remember that the Franklin Half collectors couldn't believe the prices a few years ago compared to what they paid or saw 10 years earlier. You can see the PCGS 3000 Index levels to confirm.

We are approaching those 2008 highs. After that, you are talking a LONG WAY to the ultimate high.....the 1989 Coin Bubble Highs.

So....with tailwinds from a U.S. coin bull market....I'm not surprised that prices are rising, especially when many are still probably down from their ATHs of a decade-plus ago.