General discussions about canadian coins.
9 posts • Page 1 of 1
Hi I am seeing this over and over again, for the last few years. What are everyone's thoughts on values. A picture attached of a coin that appears ms 60 at best.
- 20210126_111243.jpg (218.2 KiB) Viewed 1406 times
If people are dense enough to bid $24 US for a scrap silver coin worth half the current bid, then they deserve to be taken advantage of. I have no idea how you can come even arms-length close to seeing what grade the coin is. With each face dollar containing .6 troy oz of silver, a 50 cent piece would have .3 oz ... with silver at $25 US, that makes the scrap value of it at $7.50 US. There are millions of '67 halves out there and very few collectors. Looks like someone is fishing with th auction and got some bites.
Bill in Burl
I still don't understand your concern about the auction. Do you feel that the auction house is misrepresenting the coins or that people are just way overbidding? To me, the bids are too high for a common coin. I still can't see a decent photo .. only the arm's lenth one where you can't see the writing because it's so small.
Bill in Burl
Just saying that it is shocking to see this coin, value say 13.00 now at $26.00 And a pl 1964 dollar (it was advertised as pl) and sold for $49.00! And a 1 pound bag of unsorted pennies $2.00 worth, sell for $19.00. Maybe the trending values, based off ebay sales are very low.
Well, I think that there are some auction bidders who have taken the phrase "I couldn't believe my eyes!" way too literally. Even 25-30 years ago, you would never have seen this happen. I think much of this affliction is due to the fact that TPG's have managed to propagandize new and middling collectors into believing what's written on a description or piece of paper under plastic rather than what you can see with your own eyes. And the publishers of price guides are as guilty as TPG's. You have grading creep that have raised 60's to 62-63 or 30 to 40 or worse and guide publishers inflating prices by 20-30%. It has gotten so bad that there are over 50% of collectors who think that you HAVE TO HAVE your coins graded by a TPG or it's not worth having. Granted, high end collectors or current collectors who know that their coins will be sold upon their demise, rather than handed down to heirs. People who believe words or numbers that are written somewhere without due diligence have set themselves up to be brainwashed and lighter in the pockets. Every collector who doesn't know that each face dollar, regardless the denomination contains .6 oz of silver for coins after 1920 and before 1968. and that the scrap silver price is $xxx, shouldn't be considered a serious collector.
Bill in Burl