Coin Show
panu...@msn.com
so, anything interesting? Like prices down? Seems like the eBay bids
on most coins I follow are way down.
Mr. Jaggers
Do the eBay coins sell, or do they hide behind reserves?
James
stonej
at a loss to get some cash flow moving, closing
their tables and taking the coins around to other dealers at the show
who are better financed.
Frank Provasek
Ebay is not a reliable indication of the coin market, because there is
no longer any trust factor, since buyers expect most of the coins to
be overgraded or counterfeit, and even no longer trust slabbed
coins.
When a PCGS Proof 68 1964 Washington quarter which I paid $35 for at a
show brings $8.49 on eBay, most sellers would be better off
wholesaling their inventory.
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=190282580493
--
RARE COIN AUCTIONS NO RESERVES www.frankcoins.com
http://myworld.ebay.com/frankcoins Texas Auction License
11259, Board member of Texas Coin Dealers Association,
Member TNA, ANA, PCGS, NGC - Full Time Since 1991
Bruce Remick
"Frank Provasek" <fr...@frankcoins.com> wrote in message
news:ccad7b95-0187-47eb...@w39g2000prb.googlegroups.com...
On Feb 5, 9:39 pm, panuli...@msn.com wrote:
> Just wondering if anyone went to the Long Beach coin show today. If
> so, anything interesting? Like prices down? Seems like the eBay bids
> on most coins I follow are way down.
Ebay is not a reliable indication of the coin market, because there is
no longer any trust factor, since buyers expect most of the coins to
be overgraded or counterfeit, and even no longer trust slabbed
coins.
When a PCGS Proof 68 1964 Washington quarter which I paid $35 for at a
show brings $8.49 on eBay, most sellers would be better off
wholesaling their inventory.
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=190282580493
Do you really think you'd do much better with that particular coin at a
show? Factoring in the shipping charge, someone spent $12.50 for a coin
that would have been tossed in the melting pot with circ 1964 quarters a
short while ago. I'm actually surprised that there's still $12.50 worth of
demand for that date in PR68. I'm also surprised that anyone would spend
the money for slabbing fees, shipping, and insurance to have this one
slabbed and still expect to sell it for a profit. I've bought most of the
common date PCGS PR67 & 68 Roosevelts in my set on eBay for half of the PCGS
price guide or less. On the other hand, with choice older coins I am
finding that I often have to pay more than price guide for a raw, choice
1830's large cent for instance. Supply and demand, I suppose. And eBay
doesn't seem to be scaring buyers for these older coins away, whenever they
find a nice one.
I don't think it's a fair or accurate statement to condemn eBay based on
what YOU believe buyers/bidders expect. Do you have special powers that
allow you to determine that buyers no longer trust slabbed coins on eBay as
well?
Mr. Jaggers
>> so, anything interesting? Like prices down? Seems like the eBay bids
>> on most coins I follow are way down.
>
> Ebay is not a reliable indication of the coin market, because there is
> no longer any trust factor, since buyers expect most of the coins to
> be overgraded or counterfeit, and even no longer trust slabbed
> coins.
When an eBay buyer wins an item for X, there is often an underbidder who was
willing to pay X minus Y. Everything else being equal, I would expect to
get X minus Y for an example that I listed, or close to it. In that sense,
eBay is indeed an indication of the coin market. If you want to argue over
the term "reliable," when is the last time that anything in a collectables
market was "reliable"? You can price your coins by any guide that you
wish, including your own whim, but there's no guarantee that your coins will
go away, is there?
> When a PCGS Proof 68 1964 Washington quarter which I paid $35 for at a
> show brings $8.49 on eBay, most sellers would be better off
> wholesaling their inventory.
>
> http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=190282580493
I sure hope you're around when I'm ready to sell my PR68 Washingtons. Since
you yourself just stated that eBay is not a reliable indication of the coin
market, you should be willing to pay me, oh, say, close to $35 for one of
mine, since you have set the precedent. Something tells me, though, that
your 1964 sat in your case for a month of Sunday coin shows, and you finally
got tired of hauling it around. The $8.49 price realized is what you got
for being impatient.
James
RWF
news:ccad7b95-0187-47eb...@w39g2000prb.googlegroups.com...
>no longer any trust factor, since buyers expect most of the coins to be
>overgraded or counterfeit, and even no longer trust slabbed coins.
> When a PCGS Proof 68 1964 Washington quarter which I paid $35 for at a
> show brings $8.49 on eBay, most sellers would be better off
> wholesaling their inventory.
ebay isn't a reliable indicator because you couldn't sell a coin for
more than you paid for it, is that your position?
I'm generally pleased with my ebay transactions and basically trust
those seller that have good feedback.
Did it occur to you that you wildly overpaid for said coin?
Furthermore, does it occur to you to set a minimum price that ensures
you won't take a loss on a deal?
ebay keeps kicking you in the ass but you keep going back, what does
that say about you?
RWF
news:gmi6n...@enews4.newsguy.com...
> When an eBay buyer wins an item for X, there is often an underbidder
> who was willing to pay X minus Y. Everything else being equal, I
> would expect to get X minus Y for an example that I listed, or close
> to it. In that sense, eBay is indeed an indication of the coin
> market.
That doesn't take "auction fever" into account.
Over the years I've seen many items go for wildly high prices and a
similar item sell for a fraction of that just days later.
Auction fever is the main reason I snipe at the last possible second -
not only does no one else get to bid up the item but, if my bid isn't
high enough, I also don't have time to up my bid. That's saved me a
homely penny over the years
Anyhoo...
One has to wonder why Frank sells on eBay.
According to him they've booted him off and cancelled his auctions
almost innumerable times.
Now he claims eBay is at fault because his coins don't sell for more
than he paid for them.
Seems to me that is more a reflection of his abilities as a coin dealer
than a fault of the auction site.
Every day 1000's of folks buy and sell stuff on eBay, the vast majority
of them happy as clams.
So why is Frank always whining?
Mr. Jaggers
My problem with all this rears its head whenever someone sez that
such-and-such a price oracle is wrong, wrong, wrong. I've yet to see one
that is right, right, right. In the area of early copper, for instance, I
can almost always gather together six or seven "price guides" and find a
range of 3X for the exact same coin. So, who is right, and who is wrong?
Or should I just trust the dealers at shows to teach me the correct prices
for coins? They are hardly impartial guardians of Truth. Most any
disquisition on coin prices ends up being a load of BS anyway, including
this one of mine.
James
RWF
"Mr. Jaggers" <lugburzman[at]yahoo[dot]com> wrote in message
Ultimately the price of any object is that which someone is willing to
pay at a given point in time.
Today's paper costs 50 cents, tomorrow it's worthless, 100 years from
now it may have collector value.
(Unless, of course, Fwankie goes to sell it on eBay, in which case he'll
lose money - poor baby!)
sgt23
Holy shit RWF, I actually agree with something you said for once.
However, do not let it got your head I still think you are full of
shit.