My dad and I discussed this at some length over the weekend. Of course we all try to get the best deal we can on any coin. But our consensus was that on lesser quality or more common coins, steals can often be had. But for more rare or higher quality coins, ones efforts are better spent actually finding them, and paying a premium if needed. Thoughts?
I would totaly agree with you sometimes if you lower your expectations a fraction you can pick up some lovely items :high5:
It depends on what your goals and your means are. We all look for the best price possible most of the time. But yes, sometimes we need a particular coin that we know we won't find a bargain on and just have to pay the price. Guy~
I have found generally speaking, the lower end and/or more common ones go higher, percentage wise, than the higher end and/or more rare ones, with some exceptions. So if you are looking for investment type coins, go for the higher end ones. :thumb: Ribbit
You can frequently find MS69 and PF69 $5 gold commemoratives from the 1980s selling at a little more than the spot price of gold. The coins aren't scarce, but it's a good combination of high quality and price.
It's tough to find a general rule; prices can be erratic. I will say this : beware of "bargains". Usually there is an unseen problem. Normally we get what we pay for. Yes, occasionally a great buy comes along.
Yep. Took me a long time to come around to this, but now I just pay for what I want (within reason of course) instead of buying bargains just because they are bargains.
There is no free lunch in numismatics - period. And there are very few bargains. The real problem is that the majority of collectors would not recognize a true bargain even if they saw one. And, as stated, what most often think is a bargain - isn't.
Well if you find a bargain, make sure you know what you are getting You have to know your coins...and know how to grade them Without those two things I mentioned, bargains can never be found. Shoot, I've never really got a bargain, the best purchase I can think of that I made was a quarter eagle, AU58, wholesale at $230 and I paid $253, which is about $50 under retail, I don't know if I consider that a bargain, vs. just being patient, and paying a reasonable amount If bargains is all you are looking for, be prepared to have a collection of 4 or 5 coins... Bargains don't come along a whole lot, and when they do, something is fishy...If you see a bargain, just make sure you know what you are doing
Most people think of a "bargain" as a low price. Forget it. Better to look for a great coin at a fair price.
The problem for me is not finding bargains. It's finding what I want at realistic prices. Bullion is hot (I don't buy bullion). Rarities are semi-hot (I can't afford them). They still sell but recent auction results tend to show a softening in rarities. Quite a few 6-figure coins are being bought for less that the previous buying price. Collector coins are at best tepid. But sellers don't seem to be recognizing this. They are often asking for MORE than Coin Values prices when they might have a hard time getting greysheet. I've got one coin I REALLY want but I can't find it at a reasonable price. BTW, my definition of a reasonable price is about greysheet plus 60% of the difference between greysheet and Coin Values. I'll see how the prices are going at the Baltimore Whitman show in about 2 weeks.
But the thrill of the chase is exciting.hya: A few years ago a lot of things looked like a free lunch to me. Now, most of what I see that I might buy seems a bit on the expensive side. I don't have the skill to pick out the high quality, high priced coins of today that will be even higher priced in the future. So I'm content to do more looking and reading than buying.
Interesting. Honestly, I've heard few people talking about a softening in the market. In fact, I've heard of many people shifting assets from traditional retirement sources to coins.
According to an article in the recent Coin World, many are selling for 50% or less of what they last sold for.
