Featured Two Byzantine Solidii from Heritage Auction 3085

I agree 100%. When I first started collecting again, I was purchasing exclusively through dealers. However, in pursuing higher calibre coins I realized that I would only find what I was looking for in auctions (i.e. Heritage, CNG...etc.). This is not to say that there are no dealers with higher calibre coins, but more often than not, their selections do not rival those of larger auction houses.

 

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I would say dealers USED to a large percentage of highest quality coins. I have some friends who are very high end. They used to buy 80% through dealers, but they say the NYINC show every year has fewer dealers and fewer high quality coins, all of the best coins are migrating to the auctions. I think its simply what is happening in real life, fewer people have the ability to attend large shows, but have the money to pay the most for the coins, so the coins are going where the money is.

 

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I have noticed very high auction prices as well. The number of people who collect ancient coins seems to have dropped significantly - I have noticed that too, but the ones who remain are willing to pay high prices. And there are a large number of large lots for sale too and these go for huge numbers for the most part . Blake

 

I am just curious, what are you basing "fewer ancient collectors" idea on? I think the collector base is changing, more on their own using internet resources, and less attending shows and clubs. However, I do not have any data proving numbers of collectors dropping.

 

Not OP but since most auction houses show the paddle or handle of the bidders, I have noticed that most bidding is done by a small number of the same paddle or handle. I wonder if that is why CNG stopped showing that information in their Electronic Auctions, as it’s quite a deterrent.

 

I would be careful. The owner of CNG was actually on here and explained how a lot of this you see on auctions is dealer-buyers, where the dealers are buying for clients because the dealer can be there live and the clients cannot. So, you will see one paddle, but there might be 35 collectors driving the buying for that one paddle.

Many people who spend a lot of money on coins simply do not want to be known due to security, or are busy professionals who cannot be bothered sitting around a computer for an auction. The pay dealers to do this and look at the coins for them to ensure quality. I know a few dealers who do this for people. I have actually used two different dealers over the years for the same purpose.