Coin sales/auctions seem to be picking up
I have been seeing an increase in coin sales and auctions on the web lately, with very high prices paid for common coins, ie:cents, nickels, quarters, etc. Many of the reporters are new to the coin collecting hobby. Do you think the high prices paid for these common coins are going to increase the value for the rest of the collectors out here? The coins are all graded by third party graders.
Comments
The Coin Student
Level 5
The more that coins sell at higher prices the more it will drive the prices up over time. Thanks for sharing!
CoinLady
Level 6
A rare coin is a rare coin. A common coin is a common coin. I see that some of these stories mention the common coins in super-high grades. Regular people think the beat-up cent they got in change is worth the same as the touted cent in the auction. So they take their common cents to a coin shop & are told to spend them. People get angry & think that numismatics is not on the level. I actually read in an investment book that numismatics is a scam. I wrote to the author but he never responded.
user_9894
Level 4
Thanks for the reply
user_9073
Level 5
I think there are a couple of things that you might me noticing. First the general economy is improving. If people have more money or feel they have more money ( i.e. unemployment is low and stock market is up), then prices tend to increase. Second, there is always market rotation. The hot series currently favored changes. If you are watching a series that is out of favor rotate into favor you will notice price going up.
user_9894
Level 4
Thanks for the reply
"SUN"
Level 6
I think sometimes collectors get carried away bidding on the internet. I bid on items, and set a limit, if it goes higher, so be it. Hopefully, some day I will acquire the coin/token at my price, if not. I have a lot of coins/tokens to enjoy already.
user_9894
Level 4
Thanks for the reply
Longstrider
Level 6
I think high prices for common coins usually happens on T.V. coin shows and eBay. I watch a few major auction houses and "usually" they don't get the high dollar for common stuff. As Mike says, they must have a rarity of some kind. Sometimes and I look for it. Higher end coins go cheaper than normal. It seems this is happening now. I believe it is because of the glut of auctions at this time. I guess, respectfully, I don't agree with your supposition. At least not in my experience. Thanks!
user_9894
Level 4
Thanks for the reply
Mike
Level 7
It all's depends on what coins your talking about. Are the rare? Do they have varieties? Auction prices go high based on the coin. I dont think high prices will be bid for a common coin. It also doesn't have to be a third party grader coin. It can be raw also. Are you talking about eBay or the big auction house's.? You can get a 1909 s vdb in red in a high MS that would bring very high prices. The same with some nickels dimes it all depends on the coin. No one can predict how high a coin will go or drop. They also go down. Supply and demand. I hope I have answered some of your questions. Thanks . Mike
user_9894
Level 4
Thanks for the reply. The auction that keeps coming up, is Great Collections and also the big one in NY that begin with an "S" I think.