I have been absent from anything with coins for 6 months. just looked at some coins to see how the sellers market is, I was shocked, coins are half the price what they were last year, what is going on?
Back to reality I guess., all the guides have been way off the mark for some time, even allowing for some recent adjustments to their valuations. The only items that have kept pace with the BS valuations are the more scarce, rare and desirable pieces.
It wasn't all that long ago that everyone was bagging Greg McDonald for putting "Revised" prices in his coin guide if I can remember correctly :angel:
The market for good quality coins is quite OK.
The Nobles auction next week will be a good indication.
I reckon there will be some good demand.
Rubbish coins are a totally different market.
Just melt them is what I say.
Quote from: 'trout' pid='93084' dateline='1469185138'It wasn't all that long ago that everyone was bagging Greg McDonald for putting "Revised" prices in his coin guide if I can remember correctly :angel:
Mostly Dealers I think
Quote from: 'stevo1962' pid='93090' dateline='1469187177'Quote from: 'trout' pid='93084' dateline='1469185138'It wasn't all that long ago that everyone was bagging Greg McDonald for putting "Revised" prices in his coin guide if I can remember correctly :angel:
Mostly Dealers I think
Yes I think it was Mate.
Quote from: 'echidna' pid='93085' dateline='1469185435'The Nobles auction next week will be a good indication.
I dunno. I had a look through the cattle dog today, and I wasn't overly excited. A ton of stuff that we'd have to sell an organ or two for, but nothing much for real people.
And $100 estimate for a 10% off-centre that I picked up at the club auction for $10?
Quote from: '5 rubles' pid='93082' dateline='1469183662'I have been absent from anything with coins for 6 months. just looked at some coins to see how the sellers market is, I was shocked, coins are half the price what they were last year, what is going on?
Hi 5 Rubles,
I have started a similar topic a while back and we discussed coin market. Link below for your perusal,
https://www.australian-coins.net/showthread.php?tid=4525
I reckon the coin market is doing what it always does. As 5 cent pointed out, the top end can look after itself. The middle market is difficult for me to pin down as it transitions from chaos to order. And the bottom end is a crazy wild west freak show with rafferty's rules run by ebay and facebook.
Thanks for the great responses. I stopped buying any new coins after collecting them for 55 years. When the alphabet dollars came out I thought, as did many others that now the RAM is just turning numismatics into greedy business.
Oh well, I'll start collecting cuckoo clocks for the next 20 years and give my coin collection to my grand daughter to wait for better times, i guess.
I have sold few minting errors and die cracks on ebay last year and got quite good price. it seems there are collectors ready to pay for rarer coins.
Quote from: '5 rubles' pid='93106' dateline='1469219957'Thanks for the great responses. I stopped buying any new coins after collecting them for 55 years. When the alphabet dollars came out I thought, as did many others that now the RAM is just turning numismatics into greedy business.
Oh well, I'll start collecting cuckoo clocks for the next 20 years and give my coin collection to my grand daughter to wait for better times, i guess.
I have sold few minting errors and die cracks on ebay last year and got quite good price. it seems there are collectors ready to pay for rarer coins.
Sounds like a plan, at times waiting for the right time to sell your coins is the best thing to do. At present, it is a buyers market. When I started collecting coins about 3 years ago, market was crazy. As an example coins sold for $14K now you can buy for $6K or so... however as the new collectors enter the market, demand may go up with limmited supply. This will only drive the prices up.
You may be right ausproofs, Collector numbers hopefully increase so all the limited quantities of the older coins will appreciate better than today's unlimited large issues, maybe?. Does anyone have a spreadsheet and a chart showing mintage figures over the last 30 years of $1 coins? would be interesting to see what is happening to mintage numbers. Maybe that can be used to estimate future rarity values.
Using my humble understanding of investment strategies, when banks pay nothing for your savings and property prices have slowed down and stock market is quite risky, one would assume that followed by gold and silver, rare coins would be something investors would be turning to. Of course there is a difference between collecting coins and investing and at what point does a coin become investment rather than a collection? And could a complete collection one day become an item investors are interested in?
Here is an example of a true investment coin.
https://www.sterlingcurrency.com.au/items/new-south-wales-holey-dollar-1813-18029-about-extremely-fine-ex-roth-family
It has paid good ROI in the past.
I call my self a coin collector with secondary interest in coin investment. I love coins, so my primary focus is to collect nice coins to my collection. In the process if I get a good return for my investment, then thats a bonus.
Interesting ausproof, as an example what is the sales price over a period of time for that specific coin? Do you have the sales history?
Quote from: '5 rubles' pid='93151' dateline='1469317347'Interesting ausproof, as an example what is the sales price over a period of time for that specific coin? Do you have the sales history?
Here you go, it is in the writeup by Andrew,
"
Provenance:
Believed to have been purchased by Walter Edmund Roth prior to 1893.
Believed to have been given to Bernard Roth by Walter Roth "between late 1890 and mid 1892."
Attributed by Mira and Noble as lot #461, Sotheby, Wilkinson & Hodge - London (October 1918), ex the Bernard Roth collection.
Lot #749, Spink and Son London, Auction 18 (19th November 1981). Ex H.W. Weeks collection, values unknown.
Lot #789, Noble Numismatics Auction 21 (April 1987). Estimate: $25,000, Hammer: $23,500, Nett: $23,500.
Lot #1428, Noble Numismatics Auction 65 (November 2000). Estimate: $40,000, Hammer: $39,000, Nett: $43,290. Purchased by Monetarium (Australia), and sold by private treaty to an Australian collector.
Lot #334, International Auction Galleries Auction 67 (March 2008). Estimate: $210,000, Hammer: $221,000, Nett: $257,465. Purchased by the Rare Coin Company, and sold by private treaty to a Western Australian collector.
The owners of this coin after it left the Roth collection in 1918 are not "named" collectors."
Andrew Crellin : Citing source [ https://www.sterlingcurrency.com.au/items/new-south-wales-holey-dollar-1813-18029-about-extremely-fine-ex-roth-family ] parra 8 (retrieved 24/07/2016)
I tend to agree with r9453 and 5 cent. However, the top end of the market is out of most budgets. The middle market is hard to call for both investment and collection purposes.
The bottom end, which is mostly for collection purposes continues to pull itself apart. After 5 years of gathering overpriced RAM material, I am now generating more money from postage than I am from the actual items when selling via ebay. Looking forward to being free of the nonsense and possibly dabbling in the middle range of the market or in collecting relatively less ridiculous international currencies.
Quote from: 'ausproofs' pid='93128' dateline='1469261096'It has paid good ROI in the past.
The problem with that mindset (which is very prevalent in investing circles everywhere) is that reality does not match expectations.
Is it a $1.2 million coin today? I rather doubt it.
Quote from: 'Fulvio' pid='93161' dateline='1469334534'Quote from: 'ausproofs' pid='93128' dateline='1469261096'It has paid good ROI in the past.
The problem with that mindset (which is very prevalent in investing circles everywhere) is that reality does not match expectations.
Is it a $1.2 million coin today? I rather doubt it.
43K in 2000 to 257K in 2008. I would be happy with that. Past is not a representation of future return. I said it has done well in the past
The hammer price of $221,000 was a huge jump from $39,000 8 years previously, Probably because of the influence that the Rare coin Company had on the Market at that time.
Since the Demise of this company which caused many investors to get severely Burnt the values of investment grade coins have undergone a period of "Adjustment" due to the many Speculators that have now quit the market.
I think that this has had a trickle down effect on the what I like to call the "ordinary Market" where average to high grade collectable coins are traded amongst collectors that now no longer have to compete with speculators with ultra deep pockets.
I think you are spot on there... most of the heavy hitting buyers are now selling up. This has created a time off opportunity to collect some decent coins in high grade. Like may things it will bounce back, may be not as much as in 2010-2015.