Many Selling out - Tired of US Coin Market Losses

Discussion in 'US Coins Forum' started by Derek2200, Feb 19, 2020.

  1. Derek2200

    Derek2200 Active Member

    Have declining bids in the sheet caused you think of selling out? Recently a Lexington Half I have in MS 65 went from $225 to $185 bid in the sheet. I was furious. This series has already had a bloodbath a few months back.

    While it is what it is, I certainly am downsizing my US as desire to buy has fizzled out on my part. Bids have been falling for many issues for sometime.
     
    Last edited: Feb 19, 2020
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  3. -jeffB

    -jeffB Greshams LEO Supporter

    Buy high, sell low?
     
  4. geekpryde

    geekpryde Husband and Father Moderator

    You were furious a coin declined in value? Happens all the time, across all series, and has been happening for a very long time. At least a decade for many series.

    If coin prices are declining, isn't that the time to buy? The coin you want is cheaper now than last year and you are mad about it. :confused: Personally, I like buying things on sale.

    I'm not saying you shouldn't abandon US coins, I'm just not sure I know why your mad or surprised that a decline was possible.
     
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  5. bradgator2

    bradgator2 Supporter! Supporter

    More for me to buy!
     
  6. Inspector43

    Inspector43 72 Year Collector

    When I started collecting I never thought of selling. It is either a hobby, a business or an investment. I don't think you can have all three and be happy with it.
     
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  7. C-B-D

    C-B-D Well-Known Member

    There are nearly 1200 MS65 Lexington halves certified at PCGS. And sales are around $150-$165 over the past year or so, according to CoinFacts, despite PCGS price guide being $250. Bottom line, it isn't that hard to find one, and there aren't a ton of people lining up to buy one.
     
  8. green18

    green18 Sweet on Commemorative Coins Supporter

    Coin collecting is not an investment platform. If you are worried about losing your so called worth on paper, don't collect/invest. A collector does so for the love of the hobby. I like my 'purchases' (additions to collection) to go up in value, but eight times out of ten they don't. It troubles me not..........
     
  9. ewomack

    ewomack Senior Member Supporter

    I also like to collect, and I have for years, but I've found that my tolerance has decreased greatly for collecting things that lose value or that have consistently bad resell values. This goes not only for coins, but collectible books, memorabilia, sports cards, music, autographs, etc. Most of these lose value over time and I'm tired of losing money so, like the original poster, I've greatly reduced, in fact almost eliminated, my spending on coins. This hasn't effected my love of coins at all. I just find that I no longer need to own them. I can still appreciate them at shows, in books, on the internet or anywhere where I won't lose more money on buying them. I actually feel liberated no longer needed to own coins. And I'm not wasting any more money.
     
  10. medoraman

    medoraman Supporter! Supporter

    My main collecting interests nowadays are ancients and bullion. So I haven't really seen declines.

    I still have my US coins from a few decades ago, but will hold onto them. They are all ungraded. I think what is happening in US coins is two-fold. One, TPG numbers are finally showing how common almost all US coins are. Second, watered down grades are having a deleterious effect. If a MS65 10 years ago is now $185, one has to ask if it is still the same grade. Is a freshly graded 65 the same quality as what was once graded a 65? The vast number of crackouts over the last few decades would lead one to believe that grades have gotten looser and looser. If they have, this would naturally lead to lower and lower coin prices.

    A coin is a coin. A TPG can give an opinion, but a real collector will know to look at the coin, not the slab. I bet you there are coins graded 65 years ago still worth $225, its just now the grading services might call it a 65+ or a 66.
     
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  11. Seattlite86

    Seattlite86 Outspoken Member

    I prefer lower prices :) I also prefer the world coin market, because there's so much more variety. I can get a coin older than the US for dirt cheap.
     
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  12. lordmarcovan

    lordmarcovan Eclectic & odd Moderator

    ^This.

    [​IMG]
     
  13. ripple

    ripple Active Member

    @lordmarcovan, I had to do a double take on that post thinking I’ve been up too late reading. That is cool.:eek::D
     
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  14. lordmarcovan

    lordmarcovan Eclectic & odd Moderator

    Phil Arnold (later the PCGS TrueView photography guru) made that animated GIF back in the old days on the Collectors Universe forums. :hilarious:
     
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  15. ripple

    ripple Active Member

    I scrolled right into it thinking this is an odd coin and the face popped up. That is funny.
     
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  16. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    Just be glad that you didn’t “invest” in collector plates.
     
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  17. leeg

    leeg I Enjoy Toned Coins

    I was very lucky to find this MS-64 Lexington at guide price.

    Bob C Lex Combo  1_2.PNG

    Bob Campbell image.
     
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  18. TypeCoin971793

    TypeCoin971793 Just a random nobody who doesn’t know anything...

    For me, it was the entire culture surrounding US coins that made me sell out.

    “Want me to take your coin seriously? Then it must be slabbed.”

    “Greysheet says it is worth XXX, and there is no way you can convince me otherwise.”

    “If it won’t grade problem-free, it is junk, and I will judge you as a collector for choosing such a coin.”

    “It is so rare because it is a key date.” (Overhyped)

    And generally everything is way overpriced for what it is. I can get rarer, more-beautiful, higher-grade, and more-historically-interesting contemporary coins for a fraction of what US ones cost. I see many coins that are expensive just to be expensive, with literally nothing else that makes them more interesting. You are paying for decades of hype that will lead to the downfall of the US coin market as fewer and fewer people can afford them.
     
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  19. SchwaVB57

    SchwaVB57 Well-Known Member

    Or Beanie Babies
     
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  20. Eduard

    Eduard Supporter**

    I have been having so much fun collecting coins over the last 30 years that I almost didn't realise that they have, on average, sextupled (6X more or better) in price v.s what I paid for them.
     
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  21. mark_h

    mark_h Somewhere over the rainbow

    While I wish my coins would always go up in value(or hold the prices) I really do not worry about that. That is what my stock market accounts are for. I like collecting for the fun of it and getting the right coin to add to my collection.
     
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