WOW! Coins Are Pricey on eBay!

I was short a 1885-CC Morgan. I have been looking for a nice looking one for a long time. Most that I have seen were AU to MS 62 or raw for $750 to , well one for over $5000. I found 2 MS64+, made an offer and got it for a little over a grand after all fees and tax. It was in a PCGS holder.

 

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Not just eBay. Have you been grocery shopping, filling your gas tank, or eating out at your favorite eat place lately? All things are outragedly going through the roof. When will it end, not anytime soon. What goes up, must come down, right! Maybe...

 

I agree in general that coin/banknote prices have gone up a lot recently. However as a caution, this is anecdotal evidence and not quantifiable facts from my own point of view. I have seen many Goldgulden go up more than 3X the estimated amounts on auction sites. Are the auctioneers under estimating the coin market or is this low pricing intentional so that they don't scare off potential bidders? Notwithstanding, I feel that coins have been much more affected than banknotes. And perhaps non-gold coins may be less so affected than their yellow cohorts. Exceptions to the latter may be high value condition-contingent coins that seem to always command high prices.

Moreover, I was reading a site on Vancouver, BC, housing prices (Vancouver having the highest Canadian prices which seem to be market proof in so far as they seem never to go down much and mostly up) in this era of the pandemic. Much, seems to be the result of greedy real estate agents who convince their clients that their houses, no matter how modest or shabby, will command grand prices. This phenomenon seems to be at least Canada and United States wide. While the market has gone up recently, it still is below pre-pandemic prices. Why? Do not pass go, go back to greed and envy!

Has the coin market been effected by the housing market and the hustlers that over promote their wares? I do not feel that people have saved that much money staying at home watching old sit-coms instead of whooping it up at the local tavern. So, is this the new normal for prices or will there be a down turn push back soon? Hum, where's my trusty crystal ball?

Incidentally, I feel that banknotes are still a good buy as long as one doesn't need to purchase "67" grade versions (especially for older notes). You can often get less expensive VF notes: and as a kicker, I often offer the vendors a slightly lower amount than they post‒and many times my offers are accepted!

Interesting times we live in.

So stay safe, get your jabs, and wear a mask in crowded spaces.

 

Gotta agree with above! Early Commemoratives are a tough market tho' because your LCS may not have what you're looking for, for a very long time. You're right about ebay prices being crazy high right now, no doubt! All you can do to get a somewhat fair price is latch onto an auction and go slow as patience is the key! Most of the BIN's are priced for the rich and famous!

 

I'll stay off Ebay for awhile and try local shops and flea mkts with proper pre-cautions of China made coins being out there.