What's up with these eBay buyers?

After reading comments about the going price of the Westward Journey
Nickel Series & Medal set, I decided to check it and some other items
out tonight. I saw ...

Westward Journey 6 coin nickel set going for $25 to $31
Westward Journey Nickel & Medal set for $76 to $84
2004 uncirculated mint set going for $46 to $51 !!!!
2004 Silver Proof Sets around $50

These are all quite a bit more than their issue price. Although I
haven't been to my coin shop to check, I would assume these prices are
higher than what I would find there. No?
Are these eBay buyers caught up in a frenzy and paying too much?

"Vector" wrote in message
...

After reading comments about the going price of the Westward
Journey
Nickel Series & Medal set, I decided to check it and some other
items
out tonight. I saw ...

Westward Journey 6 coin nickel set going for $25 to $31
Westward Journey Nickel & Medal set for $76 to $84
2004 uncirculated mint set going for $46 to $51 !!!!
2004 Silver Proof Sets around $50

These are all quite a bit more than their issue price. Although I
haven't been to my coin shop to check, I would assume these prices
are
higher than what I would find there. No?
Are these eBay buyers caught up in a frenzy and paying too much?

By definition, an informed buyer and an informed seller in a open
free market
cannot sell too cheaply or pay too much.

--
RARE COIN AUCTIONS NO MINIMUMS http://www.frankcoins.com
Ebay Powerseller FRANKCOINS Texas Auction License 11259
Board member of Texas Coin Dealers Association,
Member: Texas Numismatic Assoc, American Numismatic Assoc.

Vector wrote:
After reading comments about the going price of the Westward Journey
Nickel Series & Medal set, I decided to check it and some other items
out tonight. I saw ...

Westward Journey 6 coin nickel set going for $25 to $31
Westward Journey Nickel & Medal set for $76 to $84
2004 uncirculated mint set going for $46 to $51 !!!!
2004 Silver Proof Sets around $50

These are all quite a bit more than their issue price. Although I
haven't been to my coin shop to check, I would assume these prices
are
higher than what I would find there. No?
Are these eBay buyers caught up in a frenzy and paying too much?
supply and demand wait and see what happens with the new buff nickels

How does one find out the number of sets minted and distributed by the
Mint? Is that a secret, kept until after the series has been sold out?
Does the Mint just decide mintage figures on an arbitrary basis?

Aw heck....

I went to bed before the contest was posted...
However, if you will remember, in the earlier thread I picked "7" as the
answer. Since 7 coins were involved in the contest I believe I should
win.....

;-)



"Vector" wrote in message
...
After reading comments about the going price of the Westward Journey
Nickel Series & Medal set, I decided to check it and some other items
out tonight. I saw ...

Westward Journey 6 coin nickel set going for $25 to $31
Westward Journey Nickel & Medal set for $76 to $84
2004 uncirculated mint set going for $46 to $51 !!!!
2004 Silver Proof Sets around $50

These are all quite a bit more than their issue price. Although I
haven't been to my coin shop to check, I would assume these prices are
higher than what I would find there. No?
Are these eBay buyers caught up in a frenzy and paying too much?



---
Outgoing mail is certified Virus Free.
Checked by AVG anti-virus system (http://www.grisoft.com).
Version: 6.0.813 / Virus Database: 553 - Release Date: 12/13/2004

Oops, wrong thread....

sorry
"Wes Chormicle" wrote in message
. net...
Aw heck....

I went to bed before the contest was posted...
However, if you will remember, in the earlier thread I picked "7" as the
answer. Since 7 coins were involved in the contest I believe I should
win.....

;-)



"Vector" wrote in message
...
After reading comments about the going price of the Westward Journey
Nickel Series & Medal set, I decided to check it and some other items
out tonight. I saw ...

Westward Journey 6 coin nickel set going for $25 to $31
Westward Journey Nickel & Medal set for $76 to $84
2004 uncirculated mint set going for $46 to $51 !!!!
2004 Silver Proof Sets around $50

These are all quite a bit more than their issue price. Although I
haven't been to my coin shop to check, I would assume these prices are
higher than what I would find there. No?
Are these eBay buyers caught up in a frenzy and paying too much?



---
Outgoing mail is certified Virus Free.
Checked by AVG anti-virus system (http://www.grisoft.com).
Version: 6.0.813 / Virus Database: 553 - Release Date: 12/13/2004



---
Outgoing mail is certified Virus Free.
Checked by AVG anti-virus system (http://www.grisoft.com).
Version: 6.0.813 / Virus Database: 553 - Release Date: 12/13/2004

On Wed, 19 Jan 2005 05:33:27 GMT, "Frank Provasek"
wrote:

After reading comments about the going price of the Westward
Journey
Nickel Series & Medal set, I decided to check it and some other
items
out tonight. I saw ...

Westward Journey 6 coin nickel set going for $25 to $31
Westward Journey Nickel & Medal set for $76 to $84
2004 uncirculated mint set going for $46 to $51 !!!!
2004 Silver Proof Sets around $50

These are all quite a bit more than their issue price. Although I
haven't been to my coin shop to check, I would assume these prices
are
higher than what I would find there. No?
Are these eBay buyers caught up in a frenzy and paying too much?

By definition, an informed buyer and an informed seller in a open
free market
cannot sell too cheaply or pay too much.

I guess I didn't make my question clear enough. What I mean is, is
there something unusual about 2004? I don't see such exaggeration for
the products of 2003, 2002, etc. Although, 1999 has a bit with
regard to SQ products running close to 200% of issue price (but not
300 to 400%). The 1999 Silver Proof Set looks like the sole
exception.

Or is this something that happens routinely at the conclusion of a
minting year ... but a short lived phenomena? If that is the case,
then I would expect that in a year's time the 2004 going rates would
probably drop to half of what they are at present.

Also, as I suggested, right now these buyers would probably get a
better deal at their local coin shops.

===============

www.peacepond.com
High quality environmental recordings

"funken" wrote in news:1106141094.175017.207710
@f14g2000cwb.googlegroups.com:


Vector wrote:
After reading comments about the going price of the Westward Journey
Nickel Series & Medal set, I decided to check it and some other items
out tonight. I saw ...

Westward Journey 6 coin nickel set going for $25 to $31
Westward Journey Nickel & Medal set for $76 to $84
2004 uncirculated mint set going for $46 to $51 !!!!
2004 Silver Proof Sets around $50

These are all quite a bit more than their issue price. Although I
haven't been to my coin shop to check, I would assume these prices
are
higher than what I would find there. No?
Are these eBay buyers caught up in a frenzy and paying too much?
supply and demand wait and see what happens with the new buff nickels


Sometimes things aren't always as they appear. There is such a thing as
"making the market" that dishonest people can do. Lets say you have a
whole bunch of a certain set that's currently selling for $15 but you
want to sell them off at $50 each. How do you do it? You and your
dishonest buddies post a whole bunch of auctions for them and bid on
each other's items for $100 and up. Maybe a little higher every week.
They aren't really buying, it's just for show. When the average Joe sees
this he's amazed at how the market has "heated up" for this item. When
the dishonest dealer then puts his sets up for $50 it looks like a
bargain and everyone jumps all over them. Mission accomplished. I'm not
by any means saying that this is what going on now, just that it CAN be
done so watch your butt. There's a whole lot more than supply and demand
at work sometimes. We've all heard the stories about the auction houses
getting caught shill bidding on their own items. Well... it doesn't just
happen in auction houses if you catch my drift. Another thing to watch
out for. I spent a little time as a fraud investigator and I was often
just blown away at how clever some scams are. If these people used their
brains for good instead of crime they'd probably be millionaires instead
of inmates. Just stay clean, watch your back, and use your head and
you'll be ok. Then again...it could just be supply and demand after all.
Who knows...