Thought this article from CoinWeek had some really good POV's and opinions....thoughts on various markets....coin collecting in general...etc. Figured some points would be of interest to debate in a thread. I highlighted some key areas in blue. https://coinweek.com/dealers-compan...ognani-ninth-annual-numismatic-market-review/ Jim Bisognani: Ninth Annual Numismatic Market Review edited - copyright
Quick point: CoinWEEK is not CoinWorld Not sure if you can edit it, or maybe a mod can. Either way, that article is full of excellent insight. Jim does the annual review every year, and has for several years. It is always a great read.
Some interesting tidbits that caught my attention... Bob Green – Owner, Park Avenue Numismatics "The current base of rare coin collectors has diminished significantly in the last few years due to the release of all of the US Mint products and all the companies marketing that segment." I'm not sure I fully agree with that. People have been complaining about the US Mint and it's multitude of products for over a decade now. The limited releases do draw in the flipping crowd-which can be detrimental to the hobby. However, some of those people might become new collectors. Plus the variety of mint products can help new collectors. For example, the State Quarter series that started in 1999 was something that helped bring in new collectors. I would think the diminished rare coin collector base has more to do with economics and changes in society (yes the good 'ol millennial vs baby boomer argument).
John Brush – President, DLRC “.... But the biggest challenge that I can foresee that really began this year was the added South Dakota versus Wayfair tax issue...” That is something I agree with. I've already seen plenty of threads that people are buying less (particularly on eBay) now that tax is added. Adding in an extra 5%-10% for coins, especially bullion, can often turn a good deal into no sale. To make things even more complicated, eBay does not always correctly apply the tax. Some states have no sales tax on just bullion (or most coins), but the system automatically adds the tax. One person that mentioned this said he was able to get a refund from his state. It's good that his state does that, but I can foresee many collectors just scrapping a purchase rather than having to go through the process of paying tax, filling out forms, and then waiting for the money to be returned.
Ira Goldberg – Co-Owner, Goldberg Coins & Collectibles “We have witnessed some dramatic changes in the coin market this year. The most significant change is the rise of social media retail." I've seen this too. Instagram has become a big platform for coins (it has its issues but also many positives).
Kevin Stoutjesdyk – Price Analyst, Numismatic Guaranty Corporation “I am not the biggest fan of ‘Type Coins,’ and I believe there are better options to explore when buying.... [He then goes on to explain that he would rather spend $500 to purchase an 1888-O Morgan in MS 65+ which is a pop 15 with only 58 higher as opposed to an 1881-S in MS 67 for $600, which is much more common] I see what he is saying and it does have some merit. To me, eye appeal would still be key. The 1888-O in the example might be a lower pop coin, but if the 1881-S has better eye appeal (nicely toned or semi-pl or bright white with great luster) then I would lean towards that one. And I would predict that a majority of collectors would also pick the nicer looking of the two coins as opposed to the less common one (especially if they only want one example).
Ian Russell "A dealer was just telling me at the Baltimore show his suggestion to the US Mint about producing 2020 Buffalo Nickels in the original design/style/metal that looked like they were from 100 years ago — and putting those in circulation. That would make major headlines and new collectors of coins.” This sounds interesting to me. Some would say it's too much of a gimmick, but I think it could be pretty cool and help gain new collectors.
The comments regarding sales via social media caught my attention. If that catches on I could see venues like eBay and Heritage getting a run for their money. Heritage especially has been aggressive at raising their fees as of late, first by increasing their buyer fees and then by eliminating the 1 percent discount for e-check which in effect amounts to a stealth price increase. Therefore it would be good to see more competition that will hopefully drive some of the margin out of the business.
Hey Mod....how come you took out my highlighted sections cut-and-paste ? I posted the link, I don't think I violated any copyright laws.
Really ? What kind of stuff is sold there and maybe on Craigslist ? I would think it would be more low-brow stuff ? I just got into GC and HA in the last year or two and I can't believe quality stuff would move better on those other platforms. Totally different viewerships.
I guess I'm a Type Collector in that I go for what I like among many different types of coins (and bills). Money willing, I do buy more commemoratives, Saints, Morgans, and a few others. For eye appeal, I go with looks but when I want to at least give myself a shot at higher appreciation or scarcity value, the population census is good to check. I have to admit I have NOT done much of that in the past. Will do more in the future. Checking both the PCGS and NGC registries is the way to do it I take ?
Their 20% buyers premkium is excessive. I know they have lots of professional staff but I question given their volumes how much they need to charge to cover their salaried employees and expenses.
Instagram has lots of quality stuff the issue is just finding the right places/people to follow and hashtags to check/use. It takes some effort to build up your account You'd probably be surprised at the user crossover from GC, Instagram and Heritage. Yes you probably wouldn't make a 5 or 6 figure sale on IG over Heritage, but there is plenty you could especially under 1k and really especially under $500. You still have paypal protection and cutting out the auction fees especially on cheaper stuff is attractive. I would expect the IG market to keep growing
Craigslist I haven't used; I haven't heard much positive from those that have. As far as Instagram, there are many younger/newer collectors on there combined with some more experienced collectors (including the same people you see on here and other forums). While there isn't a ton of high end material (compared to the big auction houses), there is plenty of items in the under $1k range. Also, there are plenty of people that will buy on Heritage, GC, or eBay and resell on Instagram. Some items can slip by at any venue (or not be viewed by the right person at the right time) and have potential to be resold.
I'm not a mod but I believe there has been a longstanding notion against quoting large parts of articles. You can quote smaller parts.
The population reports will give you the numbers. If you enter the cert number in the cert lookup tool at PCGS or NGC, it will give you the population numbers for that coin and you can usually click the links on those pages to get more details. I would say to use some caution with population numbers. They can be skewed with crackouts and multiple regrades. Still it is a good tool for a relative idea (especially with coins like Ms 63-67 1881-S Morgans where crackouts don't really skew the population that much).
Very interesting and I agree...eliminate the fees and BS S&H sales tax etc..... and folks buying repeatedly save serious $$$ over time. I'm tired of winning stuff on HA for $75 and final payment is closer to $120.