The Collapse of NORFED premiums on eBay

Here's a chart of completed recent auctions for NORFED 1oz rounds, net 13% (FeeBay.) Interesting the vendors' net started tanking weeks before eBay sent notices to sellers.




fwiw the (Collector) peak premiums look to be ~mid April 2012 though some issues peaked earlier.

NORFEDs are basically worth scrap now - unless you can find the Greater Fool to unload those 'not coins' upon, offline. Can you say "Beanie Baby First Gen Hang Tags" LOL
Ouch.

 

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They were never meant to be sold like cattle, they are works of art.

 

I will never sell mine anyways, but prices alway go up and down.

 

I look at them as a piece of art. If anyone has some for sale I may be interested.

 

If anyone wants to sell them for scrap, send them my way!! There will always be a premium to these especially after what Ebay recently done.

 

NORFEDs are basically worth scrap now - unless you can find the Greater Fool to unload those 'not coins' upon, offline. Can you say "Beanie Baby First Gen Hang Tags" LOL
Ouch.

First off...nice graph. :thumb:

Secondly, why would you think they are "basically worth scrap now". Because Ebay to me is not the end all of the coin market.
And as for "not coins" comment. There are lots of items that are not coins but worth a premium, plus not everyone is about premiums one their sets.
There are probably lots of people looking to still get ahold of these even if it costs more then melt.

 

First thing I'm gonna do is pick up a couple if I can find them cheap enough and without fingerprints all over them. Some people never took care of theirs, maybe that's the reason they're selling for so cheap on ebay, fingerprints and smudges. Nobody can say what's gonna happen to them but they are definitely worth way more than spot price, that's for certain. :yes:

 

The Norfed coins have notoriety and because of that, people will collect them. Hence they will always have numismatic value.

It's silly to dismiss them as scrap.

 

Still some available on Amazon...

http://www.amazon.com/s/ref=nb_sb_noss?url=search-alias%3Daps&field-keywords=norfed+silver+liberty&rh=i%3Aaps%2Ck%3Anorfed+silver+liberty&ajr=0

 

Cat's out of the bag! My secret source!

 

The seller just launched it says. Not sure if they are legit

 

I have made 2 transactions with that seller, and the seller's phone number is on the seller's detail page. Not sure why the seller is new on Amazon, but my guess is another site kept pulling the listings.

 

Unlike fleabay, Amazon is excellent about policing their vendors.

 

Technicality here... Nor fed/Liberty$s will NEVER have numismatic value, as they are exonumia (spelling/terminology?)

That said, I think these are an example of supply driving demand. If eBay has banned the sale, and the US gov't has banned possession, eventually, demand will diminish, as well. It will always have intrinsic value, which will allow it to sell as bullion (as opposed to scrap), unless someone finds one which has a copper core or something similar.

 

Duke-
My 'not coins' comment was an reference to Bernie Notthouse's obvious falsehood: "Von NotHaus had maintained his Liberty Dollars are not coins and were never marketed as coins."
http://www.coinworld.com/articles/liberty-dollar-trial-draws-little-local-atten/

In another post I quoted the jury deliberated less than 2 hours. Correction, it was less than that: "It took the jury less than 90 minutes to find von NotHaus guilty on all counts involving counterfeiting, possessing and selling his own coins, with intent to defraud."

Your LCS may have already stopped carrying these coins - Norfeds are now grey-market, soon-to-be black market. You {= someone, any one: Edited for Clarity} can still trade them with Patriots/Klansmen and meth-dealers, presumably. But fraud coinage targeted by the Secret Service is a poor investment and ill-advised bullion choice now, as responsible adults will understand.

 

Juan, let me first say I like the research you have done. You have taught me a lot about this situation, that I would have never researched on my own. - Now as far as these being illegal to possess, I’m not sure about that. Yes the von NotHaus stash was seized. But the government will always take property and assets for evidence; and when convicted of a felony, it becomes theirs. If these are deemed illegal to possess, I will certainly hand them over or dispose of them because I am a law abiding citizen. – The “trade them with Patriots/Klansmen and meth-dealers” comment was a low blow. – The “poor investment and ill-advised bullion choice” comment means little to most because a lot of collectors aren’t in it for investment purposes. They just like to collect interesting things.

 

It's a real shame you can't see how pompous you come off in some of your posts. Some of us would still like to collect them and believe it or not some of us are not Patriots/Klansmen or meth-dealers.

 

In the context of the commentary, JB seems to be indicating that the only ones who would keep the "not coins" (knowingly) would be those inclined toward ignoring/abandoning government.

 

Yep... none of the above. However, I love these coins, and will continue to collect them. Here's a couple of my $20's:

 

I find it rather sad that at some point in recent time the word "Patriot" became derogatory.......