Sanity Check

Discussion in 'Coin Chat' started by Gregg, May 6, 2021.

  1. Gregg

    Gregg Monster Toning

    I dropped out of actively buying Peace Dollars for like 18 months and upon my return I find myself suffering from a bad case of sticker shock. It seems as if over the past two years several coins in several grade levels have more than doubled.

    I just gave nearly $200 (with fees) for a nice example of a graded 1921 (XF-40) at an auction, which is fully twice what they were selling for in 2019. I feel like I over paid but I see a beat up example on eBay currently bid up to $180.00 and it isn't as nice as what I bought. See: 1921 Peace Silver Dollar NGC XF 40 Key Date US Rare Coin High Relief | eBay

    Is this just Peace Dollars, general inflation, or is this just a new reality for coin prices across the board?

    If this is just a bubble I may sit out awhile.
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  3. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    It's not just coins. It is everything right now.
    wxcoin, Rob9874, Gilbert and 4 others like this.
  4. Gregg

    Gregg Monster Toning

    So you've noticed this in your favorite series as well?
    I was thinking I may need to go find some forgotten, unpopular series to collect.
    I'm saying that as a person that collects Peace Dollars!
    capthank likes this.
  5. norantyki

    norantyki CoinMuncher

    Everyone is avoiding cash like the plague, as virtually all central banks seem to have given up with even the illusion of exclusivity / intrinsic value through all the stimulus - Greenspan's good times forever... This means that virtually all asset classes are at elevated levels right now - no smart stock buys, cars / real estate through the roof, art = insane right now, etc. Whether or not this will settle back down remains to be seen, but this is all to say that coins are hot at the moment.
    Mac McDonald and capthank like this.
  6. Gregg

    Gregg Monster Toning

    I'm doing some work on my house; have you seen the price of lumber?
    I'm selling a Mint State 12' 4x4, treated, bidding starts at $30.00
    It is certified MS65 by the Lumber Certification Authority.
  7. masterswimmer

    masterswimmer Well-Known Member

    Exactly this ^^^^

    We're feeling the cost of wantonly printing money thinking there'd be no repercussions. Time to pay the piper. Not gonna be good nor short lived.
    ToughCOINS, mlov43, Bilbo1 and 6 others like this.
  8. J.T. Parker

    J.T. Parker Well-Known Member

    2021 dollars have lost lots of their 'STREEEEETCH'.
    Are you really surprised?
    Randy Abercrombie likes this.
  9. tommyc03

    tommyc03 Senior Member

    Inflation is certainly a player in this. Has anyone priced a 4'X8' sheet of 3/4" plywood lately. Doubled since the advent of COVID. Groceries the same unless you shop at Dollar Tree but even they are going up.
    Stevearino and Evan Saltis like this.
  10. Dave Waterstraat

    Dave Waterstraat dave700x -1883 O nut

    That is where I was going to go but you beat me to it. I put a project on hold until lumber prices come back down to Earth....
    Randy Abercrombie likes this.
  11. medoraman

    medoraman Supporter! Supporter

    Yeah, most assets are sky high. Its not just any particular series. I am lucky, in ancients there usually is a hoard being dispersed at the time. When stuff starts to get to high in one area I try to simply move to where things are cheaper at the moment due to a hoard. That is what I am mainly doing right now.
    Stevearino and Randy Abercrombie like this.
  12. CoinCorgi

    CoinCorgi Derp, derp, derp!

    @Gregg welcome back...there's been a rodent shortage around here! ;)
    UncleScroge, Gregg, micbraun and 2 others like this.
  13. ddddd

    ddddd Member

    Nice to see you back @Gregg :)

    The coin market has been on an upward trajectory since 2020 with prices up on many series. The 1921 Peace Dollars (and Morgans to a lesser degree) are on their own tier (even outpacing many other coins) in large part due to the hype and promotion associated with the 100th anniversary (including the upcoming US Mint 2021 Peace and Morgan Dollar releases).
    Two Dogs, Gregg and Randy Abercrombie like this.
  14. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    I hadn’t considered this. Good call.
    Gregg and ddddd like this.
  15. William F

    William F Well-Known Member

    Prices on just about everything have jumped by 50-100% in the Covid-era, not just peace dollars although they are definitely on the high end of things with unreasonable prices... :(
  16. Bambam8778

    Bambam8778 Well-Known Member

    Everything that I've had my hands in has had a considerable price increase since we have all been cooped up at home! I think it's pretty normal to date. If you can afford to get a table at your next show I would scrape together every last coin you have and set up there with reasonable prices in regards to current market prices. You may need a brinks truck to set up but you'll be able to leave on a vespa!
    Gregg likes this.
  17. Gregg

    Gregg Monster Toning

    I bought some steel yesterday.

    I asked the retailer about it and he said 6 months ago he could buy it for $0.37 a pound and now it is $1.25 lb. He said they wouldn't sell him all he wanted to buy.

    I bought 1/2 thick 8" x 16" slabs that I now refer to steel bullion.
    I cannot afford to buy silver anymore, I'm a steel stacker.
    LakeEffect and ddddd like this.
  18. Collecting Nut

    Collecting Nut Borderline Hoarder

    Anything silver is going up faster than you can count to one hundred. A junk grade silver dollar 2 years ago was $15.00, now it’s over $25.00.
    Gregg likes this.
  19. Two Dogs

    Two Dogs Well-Known Member

    While I agree with everyone's comments about things such as coins and plywood going up, the 1921 Peace Dollar and Morgans have really shot up as ddddd mentioned. I took a table at a coin show last month for the first time since Feb of 2020. My coins already had price stickers on them from 2020. For last month's show, I changed the price I had on a 1921 MS 63 Peace Dollar from $370 to $625 due to what I saw in Greysheet; it was the first coin I sold at the show. Most other coins, I left the prices as they were labeled for the Feb. 2020 show.
    ddddd, MIGuy and Randy Abercrombie like this.
  20. Gregg

    Gregg Monster Toning

    I may have to find a different series to collect for a spell.
    This has to be a bubble in Peace Dollars.

    That makes me sad - anyone know of a series that is tanking right now?
    MIGuy likes this.
  21. Phil's Coins

    Phil's Coins Well-Known Member

    I just purchased the same coin MS62 (OUCH!!!) but i searched every site I know of prior to purchasing it and was very satisfied but sticker shock set me on my BUTT. The only thing I can say to you is if you go the auction route you are going to very definitely pay much more. Spend time searching. JMO
    stay safe.
    Semper Fi
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