General Price Changes in the Market

All,

I don't know about you other C4OA members but it's been my experience of late that the value of all rare coins has dropped much more considerably during this last recession than any of the major publications are reporting.

Yes, a good number of the coins I have sold were not the best of the best and i expected to take some losses...but I got SLAUGHTERED!

These were some of the final bunches of coins acquired before I learned a thing or two about Knowledge Based Coin Selection. Be that as it may, it's a tough lesson to watch a dozen MS64, 65 and 66 PCGS and NGC graded coins sell at auction for 55% of what I paid in the same damn auction four or five years ago!

The good news is that the net funds have gone to acquire several very special Carson City coins who's value is unquestionable.

Belay Off

I believe that's called cutting your losses!

Be glad you bailed and did the right thing!!

bob:)

Hi Belay, So which Caron City coins did you become custodian of?


Loosechange

Bob,

Yo're right, of course, it's just hard to swallow sometimes. For ,me, the key to selling off my average and below average coins over the years has been to repurchase with patients and a focus on sticking to what I've learned about "knowledge based collecting". Ultimately, I must have the discipline to re-acquire the very best examples of whatever coin and grade I can afford. In this way, my coin collecting (and investing) dollars will work hardest.

It's good to hear from you Bob...it's been awhile. We missed you at last August's C4OA meeting by the way.

What have you been doing in the world of CC coins recenttly?

Belay Off

Loosechange,

I've been working on completing a full set of CC Eagles and was able to acquire a couple of important dates recently.

Belay Off

I think it's been a mixed bag all around. The bull bullion market is taking lots of energy, money and time away from the numismatic market.

For example, I've noticed that there are two of the 1881-CC Morgans graded MS65 DPL in the original GSA holders for sale right now. The dealers have had the different coins available now for at least 3 months. Now consider that this is a pop 14 coin. The question then becomes are the list prices too high and at what level the pricing needs to fall before there purchasers come out? Or are 14 coins too many??? Or has the much touted GSA premium outrun their conventionally slabbed brethren? Many questions and too few answers.

Having watched the GSA market for more than twenty years with more than a passing interest, I am astonished to see these two coins languish on their respective dealer's stock list. Original DPLs in GSA holders are scarce and both coins have considerable eye appeal.

Nevertheless, it's a good time to be a buyer in rare coins and not so great of a time to be a seller. The market has moved in cycles and there will be a good time to be a seller.

Belay-Off: it'll be fun to see pictures of your set. I'm sure it'll be amazing.

Mitchell