Log in or Sign up
Coin Talk
Home
Forums
>
Coin Forums
>
Coin Chat
>
High prices of US coins due to greed?
>
Reply to Thread
Message:
<p>[QUOTE="medoraman, post: 1389323, member: 26302"]Well for one, a price guide is simply that, a guide. There is no assumed promise that anyone can buy or sell a coin at that price. Second, I will let you in on a little secret; every day the exact same coin in the same grade is sold for 2 different prices. Some is expected, since each coin is unique. However, there is also the fact some dealers simply charge more, and get more, for their coins. Each dealer has a different clientele.</p><p><br /></p><p>The simple, honest truth about US coin prices is that there are more modern coin collectors in the US than anywhere else. Also, US collectors ONLY collect their own country in a much higher percentage than anywhere else, making US coins the most highly collected coins on the planet. This, coupled with an "investment" mentality towards US coins, leads to high prices for common items. I find "key" dates especially grossly overpriced in the US. In the scheme of things, a 1916d mercury dime is not rare at all, for a world coin it may be labeled scarce at best. However, its first the demand by US collectors to fill a date/mm set, then the extreme promotion by dealers in the hobby, and then by "investors" who only buy "key" dates, that has led to its price. Its a self fulfilling prophecy, because as soon as any coin is labelled a "key" its price goes up BECAUSE its "key".</p><p><br /></p><p>I jumped off the merry go round. Just Saturday I received a coin that maybe there are 50 of in the world, and its just dripping with interesting history. My price I would have paid was up to $80, but I won it for $32. I sure as heck would take 29 more coins like this before I would take one Good 1916d dime that they made 264,000 of. <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie1" alt=":)" unselectable="on" unselectable="on" />[/QUOTE]</p><p><br /></p>
[QUOTE="medoraman, post: 1389323, member: 26302"]Well for one, a price guide is simply that, a guide. There is no assumed promise that anyone can buy or sell a coin at that price. Second, I will let you in on a little secret; every day the exact same coin in the same grade is sold for 2 different prices. Some is expected, since each coin is unique. However, there is also the fact some dealers simply charge more, and get more, for their coins. Each dealer has a different clientele. The simple, honest truth about US coin prices is that there are more modern coin collectors in the US than anywhere else. Also, US collectors ONLY collect their own country in a much higher percentage than anywhere else, making US coins the most highly collected coins on the planet. This, coupled with an "investment" mentality towards US coins, leads to high prices for common items. I find "key" dates especially grossly overpriced in the US. In the scheme of things, a 1916d mercury dime is not rare at all, for a world coin it may be labeled scarce at best. However, its first the demand by US collectors to fill a date/mm set, then the extreme promotion by dealers in the hobby, and then by "investors" who only buy "key" dates, that has led to its price. Its a self fulfilling prophecy, because as soon as any coin is labelled a "key" its price goes up BECAUSE its "key". I jumped off the merry go round. Just Saturday I received a coin that maybe there are 50 of in the world, and its just dripping with interesting history. My price I would have paid was up to $80, but I won it for $32. I sure as heck would take 29 more coins like this before I would take one Good 1916d dime that they made 264,000 of. :)[/QUOTE]
Your name or email address:
Do you already have an account?
No, create an account now.
Yes, my password is:
Forgot your password?
Stay logged in
Coin Talk
Home
Forums
>
Coin Forums
>
Coin Chat
>
High prices of US coins due to greed?
>
Home
Home
Quick Links
Search Forums
Recent Activity
Recent Posts
Forums
Forums
Quick Links
Search Forums
Recent Posts
Competitions
Competitions
Quick Links
Competition Index
Rules, Terms & Conditions
Gallery
Gallery
Quick Links
Search Media
New Media
Showcase
Showcase
Quick Links
Search Items
Most Active Members
New Items
Directory
Directory
Quick Links
Directory Home
New Listings
Members
Members
Quick Links
Notable Members
Current Visitors
Recent Activity
New Profile Posts
Sponsors
Menu
Search
Search titles only
Posted by Member:
Separate names with a comma.
Newer Than:
Search this thread only
Search this forum only
Display results as threads
Useful Searches
Recent Posts
More...