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Do 21st Century Coin Collecting Methods Drive Prices Down and Hurt our Hobby?
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<p>[QUOTE="Don P, post: 3077032, member: 84878"]In response to the original question:</p><p><br /></p><p>I've been into numismatics and bullion collecting for about 10 years now. Not nearly as long as most of you, so I don't mean to disrespect or anything from my observation as a collector/seller:</p><p><br /></p><p>- When going a local coin dealer or coin show, I've noticed a lot of the same guys there selling the same coins. I've offered what I thought was a fair price, based on past experience and ebay sales. In return, most dealers take out the Red Book and knock off 10%. Now, I was born at night, but not last night <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie2" alt=";)" unselectable="on" unselectable="on" />. The prices these guys offer are retail and not many people, if any, buy any of the coins. After this experience, I went online and found similar coins with the same grade for 20-30% cheaper that what they were asking for. They need to be more realistic on their asking prices. </p><p><br /></p><p> - I've seen the value on a lot of high dollar coins drop throughout the years and I think it's caused by more coins entering the market through estates. For example, I remember 1928 Peace Dollars going for over $400, where you can get the same coin now for under $200. More supply. Will there be an abundance of coins in the future when the baby boomers start passing down their estates to their kids, who aren't interested in the coins, who knows?[/QUOTE]</p><p><br /></p>
[QUOTE="Don P, post: 3077032, member: 84878"]In response to the original question: I've been into numismatics and bullion collecting for about 10 years now. Not nearly as long as most of you, so I don't mean to disrespect or anything from my observation as a collector/seller: - When going a local coin dealer or coin show, I've noticed a lot of the same guys there selling the same coins. I've offered what I thought was a fair price, based on past experience and ebay sales. In return, most dealers take out the Red Book and knock off 10%. Now, I was born at night, but not last night ;). The prices these guys offer are retail and not many people, if any, buy any of the coins. After this experience, I went online and found similar coins with the same grade for 20-30% cheaper that what they were asking for. They need to be more realistic on their asking prices. - I've seen the value on a lot of high dollar coins drop throughout the years and I think it's caused by more coins entering the market through estates. For example, I remember 1928 Peace Dollars going for over $400, where you can get the same coin now for under $200. More supply. Will there be an abundance of coins in the future when the baby boomers start passing down their estates to their kids, who aren't interested in the coins, who knows?[/QUOTE]
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Do 21st Century Coin Collecting Methods Drive Prices Down and Hurt our Hobby?
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