Honestly! I think it's very hard to find good deals these days. Everywhere I look, retail and premium, retail and premium, retail and premium. I can't get enough of it.. What happened to our market? Why is it that we can't find those deals like we used to be able to on eBay? Has the world truly smartened up? You tell me.
look harder. YOu may just be looking at high quality... or someone who thinks they have something special.
One of the biggest problems there is, alot of people have way to much money. They're willing to pay such a huge premium for a coin, so the next person sees what the last person sold his for, now his $100 coin is now selling for $300. Its kind of like what the unions have done for this country, good at first, then spiral down the drain very quik.
I still feel that the real bargains are at smaller, local shows. Look for a dealer that doesn't seem to be a large one. I usually put those that has rolls of large gold coins last ( fair or not, it works for me). I look for some one who is old ( close to my age) who enjoys to talk. You might be surprised what coins of quality he has in 2x2s and since he probably bought a long time ago, there is not as much about worry to make a profit on each coin. My best deals have come from shows with less than 40 tables. It does require one to grade their own, and to know prices, but it has shown the best for me. Other's mileage may vary. Jim
Most people who are buying and selling aren't doing it to lose money! What's so hard about this concept? Will you buy a coin for $200 and re-sell it to me for $160 so I can get a good deal? Would you even re-sell it to me for the original $200 you paid? No? Because that would be a waste of your time and energy? Well, everybody's in the same boat man! BTW, there is 10% unemployment officially, 20% unofficially (and likely closer to 30-40% strictly private sector unemployment) right now so why would demand and prices be high at this time? Who's buying!!?! Maybe these ARE the good deals. But you might have to hang on to stuff for 5 years or more. There may not be a 'quick flip' story for every coin you purchase this week or next month. Just something to think about.
You tell me, BNB... how long have you actively been looking for deals in the rare coin market??? I see deals all over the place right now, even on eBay, that I'd probably jump on if I only had the cash. And I have been jumping on a few of the better deals
I agree, how many years are you comparing the current market prices to? I mean, you joined a month ago, exclaiming you want to make money and flip coins. I am currently seeing All the coins I colect at discounted prices compared to last year, or 7 years ago. I can't imagine the coin market has gone stale within the one month worth of buying you've done. Have faith.
A few months ago I was at a coin show. I was looking at a Buffalo Nickel, holding it under magnification. The show was not that busy, the dealer three times lowered the price while I was holding it. I bought it, I was afraid he would change his mind. Last week I was at a new coin shop that opened about two miles from my house. I walked out with the best 1921-s Buffalo Nickel I have ever seen for the price I paid. Maybe he did it to try to get me to come back or maybe he had gotten it at a very good price himself, anyway he made a sale and I'm happy. I think you were warned very well making money in coins is not easy, especially with your limited time in this hobby. Add that to attempting to buy on one week and sell the next I'm afraid for you a lot of disappointment is in your future. I hope it is not that way for you, but I'm afraid it is.
The other day I went to my local coin shop that I hadn't been to in awhile. I looked at his US gold, and saw he had a 2 1/2 dollar classic head gold coin. It looked VF-XF to me, probably closer to VF. Course I can't grade well, and the dealer said it was probably 'fine' condition, it certainly looked better than fine to me. On the 2x2 was marked on the holder 'lib', which I intially thought was an error. The coin looked original...the price? $225...which is a good price even in 'fine' condition. I should also note it was an 1836, slightly more scarce than the common 1834. Next time you go to a coin shop, look through the dealers 2x2's, raw coins. You never know what you'll find...
Basically the scenario you described is the same as with my '21S Buffalo. For a collector there seems to be some good buys out there now. One dealer I talked to told me new inventory is still with a decent profit, older inventory is a loss or wait for a brighter day. I'm sure dealers that had an older inventory are possibly hurting right now. They have to move the items to create cash to purchase more, or become collectors of their own inventory. As much as I love this hobby, I just don't think I would enjoy being a coin dealer for a whole bunch of reasons.
After following the original poster on several threads and hyperventilating, throwing things at my puter screen and cussing more than normal, I will now comment. edited, nevermind.
AZ I am sorry you hit the ignore button. It comes down to this if you can not grade the coin you will not know if you are going to make money or not. I have seen lots of people try and make money on buying low, and selling high. All the while you did not take the profits from the first sale and buy the book. There is luck in this for all of us. There is the person that inherited coins and just wants to liquidate, others got a bad taste and just want out. I promise you these flukes do not reappear for 1000 more deals. There are no short cuts, this game takes more patience than fishing a tough river. Also might I add if you sell only by computer, or any other venue. We are a small community, word gets out and once it does you are done. A lot of us take our hobby seriously, we are not envious of you making a buck, if you earn it. How ever if you try and sell garbage for premium prices, it will be a short lived career.
I guess the word "deal" can be taken in different ways. When I use this word I simply mean nothing more than me and a seller agreeing on a price. If I buy the coin and I like it then I made a deal. I didn't try to "steal" the coin from the seller, and the seller didn't try to "rip me off". Simply put to me a transaction took place with me the buyer happy and the seller also happy. It does appear to me at times the collecting part of coin collecting is slipping away. I think it all started with the Log Cabin Cent selling so high on ebay in the beginning of the year. So much is posted at times about buying and reselling collecting takes a back seat. Also a deal is in the eye of the beholder. The '21S Buffalo I bought I am very happy with, and that is all that is important. Someone else may think I paid too much, someone else may think they wish they could find one at that price. Neither of these two people's thoughts hava any significance to me at all, it was my money for my collection. It's 0400 and I'm starting to ramble, but I the word deal is not necessarily a bad one.
"Deals" As a more simple-minded take on this...basically everything is a heckuva deal right now. I'm sure there's a sector here, a key date there, which have increased over the past few years, but in the collecting world (whether coins, baseball cards, comics), everything is a steal. The key for an investor in this type of market is to buy-and-hold.
I agree with what a lot of others have said. I have been getting some great deals at shows lately. I guess that "deal" is a relative term. For example I bought an 1920 S Standing liberty quarter in an PCGS 62 rattler holder the other day that was hazy and covered with PVC. I paid $290 for the coin. A quick soak in acetone and it just came back in it's NGC 64 holder and it's worth around $1,700 now. It's not the optimal deal... not one that smacks you in the face... but this coin was sitting in a dealers case and I paid his price. There are plenty of deals you just have to know where to look and what to look for.
As long as there are buyers and sellers there will be good deals, As long as there are buyers and sellers there will be good deals, bad deals, great deals, deals of a lifetime, close deals - well, you get the picture. If I have something you want I have the power because sometimes I have the coin and you have the money, and sometimes I have the money and you have the coin. At both intersections there is a chance at a "good deal" - sometimes even a good deal for both. I left ebay a long time ago - ebay is history, for me all good deals happen with people I know and have worked to build relationships with or new persons needed help. Coin shows and local dealers I have built a relationship with are the best deals always. Coin Markets are very cyclic and what was then will be again and what is now will not be any longer. People enter the hobby and people leave. Gold is $260 and it's $1150 - most everything changes except one thing key date coins that are completly original and have eye appeal. Those coins are rare and should be considered very choice indeed. 99.9% of this stuff is so common and over minted that if we really knew just how many were in the publics hands we run and hide - lord help us if it ever comes on the market at once.
Thats where "deals" are, with people. There are no deals on EBay. Most of that stuff is garbage, and with as many EBay threads as we see around here, thats proof enough. Get to know a dealer in person. They'll be fair and honest with you if you treat them good. Thats where the deal lies. I'll pay sticker prices all day long in a shop I know and trust and respect. If you want coins for free, buy a metal detector. Guy~
There are still deals out there everyday! Last week I bought some silver quarters for $1 and some silver war nickels for $0.45 at a flee market. Also all you have to do is look at your change and most likely you will find a Pre 82 copper penny. Istand return on your money!
