Got to see Borgovan for a few seconds. Hello again my friend. Interesting show, was really busy for several hours. I got to really sit down and look at the Proof Liberty Nickel collection. I would think that possibly 5 will go MS68. The majority of the rest would be either 66 or 67. The gentleman that owns the 44 steel cent flew out to look at the set, I got to talk to him for a while. He told me that he just sold a 1909SVDB for $28,000. Maybe AJ or Penny can confirm one recently sold for that? Not that I don't believe the guy... The dealer who has the V nickel set told me this guy is very wealthy and certainly has some nice stuff that he has seen. (Several Rolls of BU SVDB's included) I guess they are out there. The show overall seemed rather busy, alot of trading and the silver was flowing like a river out the door. Most dealers are currently offering/buying at 20% under bid for just about everything I seen cross the tables. Doesnt really matter what it was. I didn't notice at this show the drop in prices that I have been seeing recently at the local shows, maybe it was because this show is always well attended? Have things stabilized? Dealers seeing that the end is near and trying to get every last penny while they can? Now for what I purchased. nothing! I was looking for a 1915 XF-AU ish Lincoln, Any Large Cents and Bust Halves. 99% of what I see is in Busties and Large Cents are garbage (beat to heck, cleaned harshly, bent, holed, etc.) it seems. Also seems these dealers have two eyes for a reason. One for grading when buying, the other for grading when selling. : ) Watch what your doing out there folks, these tired old eyes are seeing alot of tricks being played and some of these dealers should be selling used cars for a living. Go with dealers you know and trust.
I'm starting to wonder if there are just to many coin shows poping up and the interest may start to fade. I too went to a coin show on Sunday. We now have 4 coin shows a Month within 15 miles of my house. At this one I heard many dealers mention they will be at the Rockford, Il. show next Sunday, which conflicts with the one in Itasca, Il. the same day. This is the same weekend for the 3 day show in Tinley Park, Il. This could be just to many coin shows poping up at the same time. I find this has nothing to do with prices of coins at all. It appears that the more coin shows, the higher the prices of coins. I now find myself leaving shows with less and less due to overprices of coins.
28K is an odd figure for an SVDB......Thats above 66RD Money by nearly 2x or so...... We would have heard on the CU forum about a sale of that magnitude, but Ihave been lazy and have not checked LB results tho, it is quite possibly a REAL recent transaction.... A 28K SVDB just strikes me as oddd, it fits nowhere except an exceptional color coin to a die hard collector.....Word on the CU Registry forum would have been out.
Rockford is my hometown! I've heard the economy there has fallen apart over the past few years. Very sad...
That's what I thought too. The dealer told me that this same guy has a 44S Steel Cent as well. I dunno.... He was looking at that proof set of V Nickels pretty heavy and seemed to have an interest if the dealer would send them in to PCGS for grading. But.. Like I said, I hear alot of "stuff" at the shows and most you take with a grain of salt. The 28k remark caught my attention because I have not heard about such a sale and surely like you said, it would get some attention.
Part 1 - Try and show a little respect for those who love capped busts but can't afford to spend 2-300 a coin. One man's garbage is another man's treasure. I have a collection of over 60 holed half busts that I am very proud of. Sure the collection is only worth a couple grand but it's the real numismatic history that I enjoy knowing that some guy back in 1809 had this 50 cent piece sewn into the lining of his jacket. Try to respect all coin collectors and their collections even though you may look down on them. Try not to voice it. It sounds snobbish and elitist. Unless that was your intent. Part 2 - You should already know that this is the standard operating proceedure among coin dealers.
Andrew: I don't believe that Jim was putting down what others collect. I believe, knowing him, that he was reacting to the practice of demeaning your (not specifically you, but the seller's) coins that you may have for sale, and them putting them out and pricing them as though they were problem free pieces. I would have to agree with him, most (okay, many, or some, heck whatever you think) dealers will put out a piece that they had purchased as a problem coin, and NOT mention the problem, simply grading it (often overgrading it) and pricing it as a no-problem piece. Deceptive? In my opinion, yes.
The interesting part, was the 1915 EF-AU lincoln comment. Those seem to be tough. very tough unless you want to put out a nice sum. Most I see at shows are worked over and high price or slabbed and even a higher price. Jim
Thanks treasure. That explanation seems plausible. Words on a page can be read in many ways. It read to me like he was calling holed, bent, less than perfect coins garbage. I just don't agree with that statement at all. Deceptive practices have been in place for centuries (sometimes called horse trading). I don't know of a single dealer that doesn't over grade and over price when it comes to selling. You might get a nube who has no idea what he is buying and actually pay the posted price without blinking an eye. When the buyer questions the grade or points out the problem, that tips off the dealer that they are now talking to an experienced collector that knows the series he is buying and the price will ultimately get haggled down. I've used the used car salesman analogy for years and then a few used car dealers on here got their nickers in a bunch but hey ... its a part of American folklore that used car dealers have the reputation they have...lol.
