Comments from CNG on the Byzantine coin market

[Obryzum]

A snippet from The CNG Market Report
Winter 2021
By Mike Gasvoda

"Byzantine coinage ends my discussion on the ancient part of the market. And what a place to end. Byzantine coin interest has literally exploded. Many prices are up 50 to 100% (or more) from as little as a year ago. Byzantine gold is, in general, quite common. Enough so, that it is an easy field to enter and enjoy without breaking the bank. Yet, like Roman gold, completeness of a collection requires the addition of several rarities. It seems we have a broad base of collectors who are in both parts of this process. Common VF solidi that were bringing $300 a year ago now commonly sell for $450 to $500. And EF solidi that were bringing $500 to $700 a year ago are now bringing $1,000 to $1,500. Silver is equally popular. Only the bronzes seem to be lingering near prices from the recent past. Nothing seems to be slowing this part of the market down."

I am not sure I agree with him.  It has been a long time since I have seen any Byzantine solidi as low as $300 -- except maybe for a fluke in a poorly attended auction.  Having said that, I started collecting in the early 2000s when it was possible to buy a decent gold solidus of Justinian for $235, a hyperpyron of John II for $185, a stavraton of John VIII for $95.  And that was retail.  Somehow, because those were the prices when I started collecting, I have it fixed in my mind that those prices reflect fair value.  An interesting vantage point from which to watch the market . . .

[Simon]

I saw that too, the market is very alive for Byzantine coinage.

I am not sure i agree with the observations regarding the coppers, maybe everyday pieces, but high grade coppers and rare types seem to be doing good as well.

[vercingetorix]

It depends what he means by "market". There's a huge difference between what's sold in specialized auction houses and what sells on ebay. Even on ebay there's a big difference between what people ask and what people get. With Best Offer options you can't know what it sold for and therefore you cannot properly evaluate the market.

[Simon]

Ebay is not what it use to be, I really recommend new collectors stay away and stick with known dealers. Know the coin or know the dealer. 

[Obryzum]

I have pretty much given up on eBay both for buying and selling.  I don't mind the scammers and the fakes.  What bothers me is that eBay has become too expensive -- they got too greedy.  It felt like a garage sale back in the day when the fees were low and most listings were auctions with low starting bids and no reserve.  It was possible to stumble across genuine bargains.  Then they ruined it.  The fees are so high now that nobody dares start an auction too low.  Virtually all listings are either retail asking price or "make offer".  And some dealers have ruined it with multiple listings for the same coin.  Fees are so high that it makes sense to stick with reliable dealers.  I would rather the dealer get the buyer or seller commission rather than greedy eBay.   

[Joe Sermarini]

This discussion is about the coins, not the coin market. Some market chit chat is OK, but keep in mind the intent here.