IT IS CRAZY OUT THERE
Sorry for no Hot Topics in while. Running two two companies has allowed me little time to even think! I am still trying harder then ever to semi retire!
The coin market over all IS good. BUT its a stop and start overall which is not good. The severe lack of product is hurting far more then any one knows. There is another very damaging culprit that could curtail the rise in prices that has to happen at this coin: price guides. We can not find ANY reliable guides. I am going to step out and say most guides only copy auction prices. Most guides lack CAC. One bad coin sells and every one dies. And heaven forbid its a coin that few exist in.
My plea to collectors has been to not use most pricing guides. They are NOT reliable. Dealers of my caliber use their “systems” and know how to read auction pricing. That can bite you too. How about if a coin last sold in 2012 and was not CAC?
If you are trying to build any kind of GEM collection, all you can do is estimate a value and step up and buy the coin. You can’t even try and figure a % to pay. If a coin is CAC you might even get a shot at another! You have to really seek a good dealer to work with and know what feels like pain really is not-its just the current market. I’ve seen too many people miss great coins lately. Even worse, the lack of accurate price has also caused this great drought.
I have said my 2C to PCGS-who does care very deeply about its CU pricing but is off key on reacting. You still need to beware that a rag like CDN is WHOLESALE pricing. Try and follow auctions as best you can. The reason why you need a dealer is so you know if the coin sold was good or bad which makes a huge difference. Right now I am selling a coin for a collector that he ripped in 2013. Sadly, people don’t understand that since no others have sold since. So we can’t get the money we should for the coin out side of auction.