Vcoin sellers..

[Spaniard]

@John Conduitt...

Thanks John..."Nail on the head"!

[Prieure de Sion]

37 minutes ago, John Conduitt said:

The question is - will they really sell for that? If so, what is everyone else doing missing out on that opportunity? 😂

If not, they just took a load of coins off the market for a lengthy period of time while they wait for miracles. Surely, this dealer is not your usual 'person trying to make a living'. They are taking a punt on rich returns.

It's all very well appealing to capitalism, but coins are not the best candidates for a perfect market. This dealer hopes to benefit from demand elasticity. They want to become a monopolist. They're hoping Spaniard will have no choice but to buy the coins even though he can see the prices have risen 300%. But he won't. He also won't be able to buy any of the coins while this dealer gambles, making his hobby less enjoyable. This is what's annoying.

I absolutely understand what you mean. 

But with so many freely available coins from hundreds or thousands of dealers - can this (one) dealer ever become or be a monopolist? To negatively influence the market - he would have to have thousands or tens of thousands of coins in stock. Maybe he has two or three coins I would like to have - but does that affect a collector's collection or opportunities? 

As I said. I understand what you mean and can sympathize with your fears. But with the "size" of the one dealer and the impact on the market, I think - that (if you are unhappy) you can just leave him on the left.

[Spaniard]

@Prieure de Sion....

I understand where you're coming from but what happens if all the sellers on vcoins who only put on around 30 / 50% are bought out by vcoin sellers who say up their prices around 100 / 300%....Then we can say ok I'll go direct to the auction houses even though I don't really enjoy it but I'll get the coin cheaper...Will you?....The auction houses are consigned their coins from sellers/ dealers who are aware of market prices.....

All I'm trying to put across here is that the small time collector will be priced out if this continues...And naively feel what I'm seeing from dealer B is just the start.

 

[John Conduitt]

2 hours ago, Prieure de Sion said:

I absolutely understand what you mean. 

But with so many freely available coins from hundreds or thousands of dealers - can this (one) dealer ever become or be a monopolist? To negatively influence the market - he would have to have thousands or tens of thousands of coins in stock. Maybe he has two or three coins I would like to have - but does that affect a collector's collection or opportunities? 

As I said. I understand what you mean and can sympathize with your fears. But with the "size" of the one dealer and the impact on the market, I think - that (if you are unhappy) you can just leave him on the left.

I don’t know for these dealers but it depends on the coins. I collect medieval English coins and there are maybe 3 or 4 dealers who regularly add coins to their stock - say a dozen every month. 90% are common coins I don’t want (or the appeal of their rarity is somewhat niche) and 9% cost well over $1000, so I’m waiting on the 1%.

For English Celtic coins there are perhaps only 2 such dealers. Even auctions only have a couple of English Celtic coins each month that aren’t gold staters for over $1000. Saxon coins aren’t dissimilar, outside of Series E. (You can always get a Series E).

With those dealers it’s a race to buy interesting new stock ahead of other collectors. Such coins go in hours or even minutes.

If someone decided to essentially sweep up all the new coins from one of those dealers and try to sell them for prices few will pay, it could remove half the supply from the market. That in itself might push up prices at auction, even though true demand hadn’t changed. And I'd have nothing to collect.

Edited September 11, 2022 by John Conduitt