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Author Topic: Scarce or Rare ?  (Read 14652 times)

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Offline Serendipity

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Re: Scarce or Rare ?
« Reply #25 on: June 28, 2021, 09:44:44 am »
Admittedly, scarcity and rarity ratings are often abused by numismatists in order to sell their coins to unsuspecting collectors. I’ve got a coin which was so scarce that it was barely mentioned by collectors until a large hoard of them was discovered. Confusingly, dealers still refer to this now common coin as scarce.

Offline Joe Sermarini

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Re: Scarce or Rare ?
« Reply #26 on: June 28, 2021, 10:55:30 am »
Wow. You apparently don't think much of numismatists or dealers.
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Offline Ron C2

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Re: Scarce or Rare ?
« Reply #27 on: June 28, 2021, 12:08:07 pm »
Admittedly, scarcity and rarity ratings are often abused by numismatists in order to sell their coins to unsuspecting collectors. I’ve got a coin which was so scarce that it was barely mentioned by collectors until a large hoard of them was discovered. Confusingly, dealers still refer to this now common coin as scarce.

A coin is worth what someone will pay, and what someone will pay is dictated by supply vs demand, not what a dealer prices the coin at on coin auction sites or even FORVM.  If a coin is over-priced, dealers need to eat too and the price will come down over time until someone sees the value proposition of acquiring the coin for the advertised rate. 

Nothing nefarious going on, IMHO.
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R. Cormier, Ottawa

Offline Serendipity

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Re: Scarce or Rare ?
« Reply #28 on: June 28, 2021, 02:29:20 pm »
Wow. You apparently don't think much of numismatists or dealers.

I think maybe it was wrong of me to refer to those coin sellers I have in mind as numismatists. They are very different, of course, from the professionally-run FORVM and its fairly-priced coins.

Offline Virgil H

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Re: Scarce or Rare ?
« Reply #29 on: July 09, 2021, 11:37:04 pm »
Just seeing this thread that has been going on a while. Some great conversation and information. Whether a coin is scarce or rare, when I see that in a description, I assume it is more expensive that a similar coin that is not labeled scarce or rare. I may be totally wrong, but those words are used to justify higher prices on so many things and they imply less supply than demand, therefore a higher price. So, all things considered I will pass on coins labeled this way unless there is another reason I want it. I do not care about a coin being rare. I care that it fits into my collection. I am well aware this does not make sense at all probably, but my warped minds looks at it this way. On the other hand, Athens owls in general are anything but scarce or rare, but are expensive because they are popular.

Virgil

Offline Ron C2

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Re: Scarce or Rare ?
« Reply #30 on: July 10, 2021, 09:21:13 am »
Just seeing this thread that has been going on a while. Some great conversation and information. Whether a coin is scarce or rare, when I see that in a description, I assume it is more expensive that a similar coin that is not labeled scarce or rare. I may be totally wrong, but those words are used to justify higher prices on so many things and they imply less supply than demand, therefore a higher price. So, all things considered I will pass on coins labeled this way unless there is another reason I want it. I do not care about a coin being rare. I care that it fits into my collection. I am well aware this does not make sense at all probably, but my warped minds looks at it this way. On the other hand, Athens owls in general are anything but scarce or rare, but are expensive because they are popular.

Virgil

Honestly, if you have a budget, just stick to it. I've seen common coins sell for high prices in average condition and rare coins in nice condition sell for very average prices. 

Rare doesn't always mean high prices. It really depends on how much market competition there is for that coin.

For example, Mark Antony legionary denarii are among the most common denarii in existence, but they are a very popular issue to collect, so even average pieces are selling for inflated prices and lots of fakes are being made to cash in on that popularity.

On the other hand, an obscure denarius issue of septimius severus from Antioch, is likely to not sell at much of a premium over a really common indulgentia/Carthage  coin from the same emperor. In fact, the indulgentia will likely sell higher because a lot of people like the dea caelestis reverse where she is riding a lion.

If you are lucky, you like coins that most of the "herd" is less interested in.
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Offline Virgil H

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Re: Scarce or Rare ?
« Reply #31 on: July 10, 2021, 05:17:18 pm »
Ron C2,
Yeah, I agree and pretty much do that, but all things considered it comes down to condition and price and the best compromise between the two, but those words in a listing will cause me to look for others not labeled as such to compare. I have started moving up in budget a bit to get better quality coins, but will grab a coin from time to time that is out of my area because the price is low for a nice coin. Just recently, I bid on a few coins in an auction and got outbid on all, a few went way higher than I expected and I ended up bailing on all. The auctioneer sent out a list of "coins going too cheaply," so I looked at the list. It seems that Elymais coins are not very popular, so I bid on one very low, won it, and it is the least expensive coin I ever bought, not counting per coin cost for a lot. Plus, it is in very nice condition. To the point I am thinking of starting a collection of these coins because I may be able to assemble a fairly complete group at reasonable cost for my budget. So, I may make it my area because it interests me although my focus has been more on what is today Turkey. Although it fits in with my interest in Alexander's conquests (and I have seen his settlement on an island off Kuwait) and could literally see that part of Iran from southern Iraq across the Shatt Al Arab river. The coins are also quite beautiful and have a Parthian/Persian flavor. There seems to be a lot of these coins from such a small country. Sorry, that was quite a ramble.

Virgil

Offline Joe Sermarini

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Re: Scarce or Rare ?
« Reply #32 on: July 12, 2021, 11:56:42 am »
We like rambles here.
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Offline Dominic T

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Re: Scarce or Rare ?
« Reply #33 on: March 17, 2024, 03:24:25 pm »
An old thread it is, I agree. Just wanna add the latest Frequency Index created by J.Mairat in the new RIC V.4. Very useful for Gallic’s coinage fans, and a lot better than the old « Rarety Table » from Schulzki’s AGK.
DT

 

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