Examples of Falling Prices

Discussion in 'Coin Chat' started by Gregg, Dec 19, 2017.

  1. Gregg

    Gregg Monster Toning

    I was talking to a coin dealer at a show about a month ago and he was showing me a 1928 Peace Dollar. He quoted me a price and then complained that he was taking a $100.00 bath on it because of the falling prices. I don't remember the exact price he quoted, I just remember him complaining about the money he was allegedly losing.

    I read about the falling prices (and I don't doubt them); however, I'd like to read some very specific personal examples of how this has impacted your collection and how it has impacted the way you purchase coins.

    If you bought a coin that has lost value you've no reason to be ashamed. By way of example, when I was a teenager I purchased an AU Franklin half at the height of the silver frenzy. The dealer was a bit perplexed - it was the most I ever spent on a coin until dropping the hobby, selling everything, and only recently getting back into collecting. (I think I remember buying the Franklin for about $40)

    Anways, specific coin examples appreciated and insight on how this has impacted you will be most appreciated.
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  3. V. Kurt Bellman

    V. Kurt Bellman Yes, I'm blunt! Get over your "feeeeelings".

    Gregg, the most common way it has affected me is by giving me monstrous bargains at live auctions. I've bought (not recently) BU GSA Morgans from Carson City for $50. I am presently buying old copper for about 20 cents on the several years ago dollar. I have never had to sell ANYTHING low. Every piece I've ever sold I made a big profit on, but I am sitting on a lot of stuff.

    When I go to a local auction of some poor departed schlemiel whose estate includes several solid rolls of 2011 ASE's, I know the story I'm around. Somebody jumped off the cliff with the other lemmings.

    Here's the point - at all times, SOMETHING is hot and SOMETHING is out of favor. I buy what is out of favor, because I have no immediate selling plans.
    Last edited: Dec 19, 2017
  4. jfscmedic

    jfscmedic Well-Known Member

    Went to do some trading with a friend/dealer this past weekend. I Had a couple of Common date PCGS and NGC MS-65 Morgans he was interested in. Checking the current GreySheet they are listed at $106. I bought them at $120 which was the last price I saw them at. Earlier this year they were $150. He paid me what I had in them. Shoot before long they will be under $100.
  5. V. Kurt Bellman

    V. Kurt Bellman Yes, I'm blunt! Get over your "feeeeelings".

    Sure will.
  6. cladking

    cladking Coin Collector

    If you don't buy it when it's out of favor you won't have it to sell at a profit when everyone wants it. In collecting it's the contrarian who tends to make profits.

    I think it's funny that common Ikes are now selling for double face. Well... ...they would be selling for double face but there seem to be only buyers.
  7. jwitten

    jwitten Well-Known Member

    I've had 10 or so 2015 coin and currency sets I've been sitting on since buying from the mint. I finally decided to declutter, and sold them for a loss this morning. Put money in my pocket and cleared some clutter though.
  8. V. Kurt Bellman

    V. Kurt Bellman Yes, I'm blunt! Get over your "feeeeelings".

    They didn't do a 2017 of those, did they?
  9. baseball21

    baseball21 Well-Known Member

    They didn't. Unless they surprise us with one that wasn't announced but I highly doubt that
  10. V. Kurt Bellman

    V. Kurt Bellman Yes, I'm blunt! Get over your "feeeeelings".

    Just your common ordinary three-coin series. Australian sharks, reverse proof Sacs. What's next, and what accounts for all this Mint short attention span?
  11. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    @V. Kurt Bellman

    My biggest goof was buying four of the 2005 American Legacy Sets at $135 each. I don't think I've ever seen them listed for more than $75 each. Maybe I should advertise them on Craigslist!:greedy::greedy::greedy::greedy::greedy:

    Gregg likes this.
  12. V. Kurt Bellman

    V. Kurt Bellman Yes, I'm blunt! Get over your "feeeeelings".

    Craigslist? Bring a gun. ;)
    serafino and green18 like this.
  13. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    .....or, make the deal at the local police station. Maybe Live-PD would like to film it!

  14. 352sdeer

    352sdeer Collecting Lincoln cents for 50 years!

    Kurt you can go to that gun fight BUT you must bring your entire collection which I will hold for you while you get shot. Don’t worry I’ll bring a UHaul truck. :angelic:
  15. V. Kurt Bellman

    V. Kurt Bellman Yes, I'm blunt! Get over your "feeeeelings".

    Now, now, we don't need to drag my NRA marksmanship awards into this. O'course that was pre-stroke.
    Last edited: Dec 19, 2017
  16. ddddd

    ddddd Member

    I have a few examples:

    1. Like @Gregg I bought some Franklins and other silver half dollars when spot was higher...around $11-$16 per coin (so $22-$32 per $1 face value).

    2. An MS 66 Morgan...these have fallen along with MS 65 Morgans....luckily mine is a solid for the grade example that I’m happy to have in my collection

    3. US Silver Proof Sets....I missed the 1999, but have the 2000-2008 ones....unfortunately I didn’t sell them when silver was around $50 or when the 2001 was the 2nd most expensive after the 1999 (used to be $100-$150...now $25-$35)

    Edit: in terms of my collecting, I decided to stop collecting US proof sets as I learned that they could mostly be bought for less a few years after release (outside the few key sets) and I decided to only keep one set of BU Franklins (and avoid buying more). I also mainly moved away from buying multiple generic Morgans and instead look for a few eye-appealing ones (toned).
    Last edited: Dec 19, 2017
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  17. Johndoe2000$

    Johndoe2000$ Well-Known Member

    Bust them out, but "Only" if they can stop a bullet.
  18. 352sdeer

    352sdeer Collecting Lincoln cents for 50 years!

    Oh I will keep you “covered” during your gun fight with this little 100 year old relic
    Don’t worry Kurt I don’t miss.
    Alas I couldn’t find my picture but I own that exact FSR M96 conversion. An early add on pistol grip and modified stock and hand guard. It is my favorite and more accurate that my CG63
    Last edited: Dec 19, 2017
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  19. V. Kurt Bellman

    V. Kurt Bellman Yes, I'm blunt! Get over your "feeeeelings".

    C'mon maaaaaan! This is urban Harrisburg. Handguns only, and they must be held sideways, with the grip to the side to ever so slightly inverted.
    green18, NCnovice and Gregg like this.
  20. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    Oh, I think a plastic shopping bag from your local grocery store should suffice.

    green18 and 352sdeer like this.
  21. V. Kurt Bellman

    V. Kurt Bellman Yes, I'm blunt! Get over your "feeeeelings".

    Oh man, you have NO idea how much crap I've got! Remember, it's "any metal goes" for me.
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