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Last Post Nov 4, 2009 10:45 PM by: glocmt12
Replies: 29
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garye541
Posts: 2,524
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Re: Is The Recession Affecting the Rare Coin Market?

Nov 3, 2009 9:38 AM
Very true Glo

I bought A 1938 Pr-66 mercury dime for just $230.00 and she is a babe.
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glocmt12
Posts: 11,782
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Re: Is The Recession Affecting the Rare Coin Market?

Nov 3, 2009 9:43 AM
The latest example that I've read about is a coin that was discovered by New York contractor, George Williams, in mid-2005 while raking a load of fill dirt.

It made quite a splash when it was reported in the numismatic press.

The coin was sold by Heritage on 1/5/2006 to a mail bidder for $253,000 with the buyer's premium.

This year it was resold at the Central States Numismatic Society convention auction by Heritage for $109,250!
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glocmt12
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Re: Is The Recession Affecting the Rare Coin Market?

Nov 3, 2009 9:46 AM
While researching the above 1817/14 Bust half, I found this by Steven Roach on CoinValues site:

"The recent Central States Numismatic Society convention sale by Heritage featured a large and important collection sold under the name "Joseph C. Thomas."

The results are illustrative of the new reduced prices at the high end of the market. Many of the coins were purchased at auction during the past five years, and were offered without reserve.

Caution should be taken in drawing broad conclusions from these results. The prices are reflective of both a general softened demand, as well as absence of the consignor as a bidder on these lots. For example:

Lot 2208, a 1796 Draped Bust dime graded Mint State 67 H by Numismatic Guaranty Corp. sold for $253,000. It was sold previously as part of the Ed Price Collection by Heritage in 2008 for $299,000. In 2003 it was sold in an Ira & Larry Goldberg Coins & Collectibles auction for $120,750 while housed in a Professional Coin Grading Service MS-66 holder.

Lot 2224, an 1807 Draped Bust dime graded MS-66 by PCGS with a curved planchet clip sold for $25,300. In 2008 Heritage sold it for $69,000 and in 2006 it sold at a Goldberg auction for $27,600.

Lot 2332, an 1827/3 Draped Bust quarter dollar restrike graded Proof 66 by NGC sold for $63,250 – a significant reduction from the $126,500 it realized at a 2007 Heritage auction.

Lot 2354, an 1854 Seated Liberty, With Arrows quarter dollar, graded Proof 66 by NGC, realized $48,875. The consignor purchased it in 2007 for $138,000.

Lot 2370, a 1913-S Barber quarter dollar graded MS-68 by PCGS realized $86,250. It was purchased in 2005 for $172,500.

Lot 2418, a rare 1817/4 Capped Bust half dollar graded by ANACS Extremely Fine details, corroded, sold for $109,250. The same coin sold at auction in 2006 for $253,000 although that high price was no doubt in part because of the publicity it received as a newly unearthed discovery.

Some coins held their value throughout multiple auction appearances, and a few even went up in price. However, the dominant trend at this auction was that expensive coins sold for less than their acquisition price when previously sold at public auction."
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glocmt12
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Re: Is The Recession Affecting the Rare Coin Market?

Nov 3, 2009 9:47 AM
$230, Gary? That's amazing! Is it certified?
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maha-sam-atman-1987
Posts: 90
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Re: Is The Recession Affecting the Rare Coin Market?

Nov 3, 2009 10:40 AM
The recession is hurting everything, but especially thing that are normally paid for out of disposable incone, like rare coins and collectibles. :-( . Precious metals that have intrinsic value are still holding their value, though, so bullion quality coins are a better investment than mint.
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glocmt12
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Re: Is The Recession Affecting the Rare Coin Market?

Nov 3, 2009 10:43 AM
During the Carter years, collectibles did very well because of inflation.

Any chance that the trillions of dollars of deficit spending will lead to inflation similar (or worse) than during that era?
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garye541
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Re: Is The Recession Affecting the Rare Coin Market?

Nov 3, 2009 11:08 AM
$230, Gary? That's amazing! Is it certified?

Hi Glo my scanner does this coin no justice of the image;)



Mercury dime 1938 PR-66
Mercury dime 1938 PR-66 reverse
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glocmt12
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Re: Is The Recession Affecting the Rare Coin Market?

Nov 3, 2009 11:21 AM
Well done, Gary!

A beautiful 66 coin at less than 65 bid.
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glocmt12
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Re: Is The Recession Affecting the Rare Coin Market?

Nov 3, 2009 11:21 AM
Did you get it here?
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garye541
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Re: Is The Recession Affecting the Rare Coin Market?

Nov 3, 2009 11:53 AM
Yes about 2 months ago.
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glocmt12
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Re: Is The Recession Affecting the Rare Coin Market?

Nov 3, 2009 11:57 AM
Definitely a bargain.
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garye541
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Re: Is The Recession Affecting the Rare Coin Market?

Nov 3, 2009 3:28 PM
Definitely a bargain.

Why thanks Glo I also got A Mercury dime 1939 NGC PR-66 for about the same price $225.00 now if I just could get my hands on A 1936 PR-66 for $250.00 It would make my day;)
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glocmt12
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Re: Is The Recession Affecting the Rare Coin Market?

Nov 3, 2009 3:34 PM
Get two. ;)
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hockeyhillbilly
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Re: Is The Recession Affecting the Rare Coin Market?

Nov 3, 2009 3:46 PM
Gary-I remember buying proof 66 mercs at $500 and selling them for $600 in the late 80's.I never had any problem turning over as many as I could find.Proof Mercs and walking liberty halves are both steals.

Glo- It is very much a buyers market.I have been buying early commemoratives at about 10 cents on the dollar from what was the high water mark the last time we had an inflation fueled bull market in 88/89.We are absolutely headed for another period of extreme inflation.You can't just print money like it is going out of style and run up mountains of debt without a reaction.
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