There have been a few threads here about undervalued coins, lets hear the overvalued! IMO, the 1916 SLQ is wayyyyyyy over priced
Over-valued is hard to determine. I mean, if someone is willing to pay a certain amount for a coin, then thats it's value, whether anyone else agrees with the amount or not. That value may not carry over or translate to other similar coins, or even the same one the next time it sells, but at that moment it defines it's value. Personally, though, technical definitions aside, in my collecting I find all US coins minted after about 1880 as being over valued. There are no rarities, only phantom demands. By that I mean, with say 16D merc dimes and 09S vdb Lincolns, the numbers don't by any stretch of the imagination make them scarce, and demand is what supposedly drives their price. But, if demand makes them "scarce", why is it I can walk into any coin shop in any city in any state and see at least one, usually multiple examples of these coins any day of the week? Thats not scarce at all. Guy
This brings to the table , the need for an in-depth research regarding " True Rarities " . Much of what is touted about many many coins in general , especially 19th century coinage and later , is simply a marketing ploy . Ready to capture the " eye " and the money of unknowing and impatient collectors .
The quantity of truly rare coins is somewhat fixed and the market somewhat stealth when they change hands. This leaves the middle and low ground for dealers and buyers to trade in. As rents and overhead keep increasing so do the prices even if the coins are more common. Certainly a hot item will affect the price because of demand, but the prices go up in regards to business cost as well. Now you need two reputable 3rd party graders to fix a good coins value, and if not a store purchase, you can have pass through on final expenses for auction fees, delivery and taxes. That's on top of the coins real value. This will continue to creep into the lower tiered coins until their pricing goes up besides. And the demand doesn't have to change an iota. This is part of the reason why the older collector is more the norm in our hobby. He can afford the unaffordable much easier. IMHO.
Ever watch CoinVault? They always make for a convincing argument at why buying Silver coins at 2012 prices today is a good investment - wait...what??? Oh, and don't get me started with the 5oz hockey pucks!!!
Hey L@@K only $50,000 and free shipping on Feebay !!!! Gotta love the dreamers and its not even a "W". :devil: http://cgi.ebay.com/1995-Silver-Eag...ultDomain_0&hash=item2eb3feb6f6#ht_3725wt_913
Often watch Proof 70's 2010 Lincoln's go for $300? So my next pick is any and all SLABBED LINCOLN PENNIES!
Over priced, why would anyone in their right mind pay 4 figures for a coin that had its dies deliberately altered, when in reality the value should be less than a well struck coin of its equal. Think about it...
An overpriced coin due to demand is the 1909 s vdb but I got my anacs xf40 at $775 so I'm not complaining.
We as collectors can argue until the cows come home about the value of any given issue and why it's warranted or not. The bottom line though is that it's worth what somebody is willing to pay for it. I remember asking my dad years ago what a particular coin in his collection was worth, and that was his answer to me...whatever somebody will pay for it. I've never forgotten that. Bruce
