Murad Baksh: Rupee, Ahmedabad mint, KM 272.1

[mitresh]

Mughals, Murad Baksh, Silver Rupee, AH 1068 RY Ahd, 11.3g, Ahmedabad mint, KM 272.1




See the link here for more coins of Murad Baksh posted by me and other WoC members.

[asm]

Nice one. This is now regularly seen but difficult to get.

Amit

[Coinsforever]

Nice one. This is now regularly seen but difficult to get.

Amit

In this week I've seen 2-3 specimen at various sources prices are going down and down ( silver crashed drastically )


Cheers

[Figleaf]

If there is a connection between the silver price and expensive coins, something is very, very wrong…

More likely, some shady people may have found out the hard way that expensive coins are not a very efficient tax shelter and that a price drop can cost far more than paying tax, so now they are trying to liquidate their illiquid holdings and finding that the price turns against them.

Peter

[asm]

If there is a connection between the silver price and expensive coins, something is very, very wrong…

I think Ajay got it a bit wrong......... the issue is that prices of common coins has dropped drastically.......... Reason (according to me) is that with forums like FB offering platforms of direct trade, eliminating the middlemen. The seller is happy that he gets the prices which is better than  the prices he would have got if he sold to a dealer and the buyer gets the coin much cheaper than he would get from the dealer (the dealers here make anything between 20 - 30%). These includes some scarce and rare coins too. Once the buyer and seller are acquainted, direct sales too are done. Thus we find coin prices on these forums are substantially lower than normal market prices, even for scarce and expensive coins.

Another thing is that with so many auctions and a lot of Shill bidding that goes on, I have seen prices on these FB forums or direct collector to collector trade are at about 50 to 60% of Auction sale prices. Of course, auction prices include a buyers and sellers commission totaling about 25% + VAT on coppers @ 5% (1% for gold & Silver).

I have also seen occasions when, wanting to add a very special coin from an auction, collectors are prepared to sell good coins (which they may have as spares) at a marginal discount to market prices - so that his chest is full when he attends the auction...........

So, it is a combination of a lot of forces that have led to prices falling. Of course, silver melt value (which determines cost of most common types) has also played a big part........ and with silver prices expected to drop further, common coins will be available at fairly low prices.......

Amit

[Coinsforever]

Amit ji

Price in real market has dropped too yesterday one friend who is in touch with you regularly picked rarest coin at dirt cheap price I was also present with him.

Also common one at just above silver price price. Most hard hit is BI silvers.


Fbk selling has merits and advantageous both for seller & buyer.

Cheers

[mitresh]

Never knew about Facebook as a source for coin buy/sell as I do not have a FB account.

[asm]

Price in real market has dropped too yesterday one friend who is in touch with you regularly picked rarest coin at dirt cheap price I was also present with him.

Drop in silver prices is not responsible for this. Just think, what effect will a drop of a few thousand rupees per Kilo of Silver have on a 11.5 g silver coin? May be 100 or maximum 200 rupees. This 100 or 200 will look huge on coins which cost 800 to 900 rupees each but on coins that cost few thousand rupees each, this will be zero effect as prices can sway 500 to 100o rupees depending on the desperation of the buyer to buy the coin & the seller to sell it.

Due to current economic situation and a very tight money market, prices of all non essential commodities have displayed a downward trend. Coins are one of the worst suffers. Dealers who have bought coins and have stacked up large quantities want to liquidate and hence are offering these at rates just above purchase prices. This would easily lead to a fall of 20 to 25% in prices of the scarce and difficult to get coins. I know dealers who have bought on credit and now are looking to liquidate since the payment is due and they have been left with most stock unsold. if he does not pay, he looses reputation and his future business will be effected. It is better not to make profit once than to loose his reputation.

With more and more people having access to information and more help available to attribute coins, more coins of rare mints are now coming for sale...

A small coterie of dealers who had been dictating prices have also lost out to the internet and the information age as people are able look up prices in different parts of the world............ 

Many many reasons for fall in prices of scarce coins........ but silver price is not one of them.

Amit

[asm]

Never knew about Facebook as a source for coin buy/sell as I do not have a FB account.

I too did not have an FB account till I logged in due to persistant pressure from our member Husain Makda. I thank him for that. I have always been skeptical of sharing information on a public platform and even now, do not have either my picture nor any personal info (except date of birth) on FB.

I would recommend you and all others who are not on FB (due to possible invasion of privacy or data sharing of your account on an open forum) to get on to FB but restrict yourselves to just specific forums - especially hobby forums...... without divulging too much personal info. I have gained enormously.

Amit

[Coinsforever]

Due to current economic situation and a very tight money market, prices of all non essential commodities have displayed a downward trend. Coins are one of the worst suffers. Dealers who have bought coins and have stacked up large quantities want to liquidate and hence are offering these at rates just above purchase prices. This would easily lead to a fall of 20 to 25% in prices of the scarce and difficult to get coins. I know dealers who have bought on credit and now are looking to liquidate since the payment is due and they have been left with most stock unsold. if he does not pay, he looses reputation and his future business will be effected. It is better not to make profit once than to loose his reputation.

With more and more people having access to information and more help available to attribute coins, more coins of rare mints are now coming for sale...

A small coterie of dealers who had been dictating prices have also lost out to the internet and the information age as people are able look up prices in different parts of the world............ 

Many many reasons for fall in prices of scarce coins........ but silver price is not one of them.

Amit

I agree with your view points but see from dealers points of view they can't hold inventory for long time now silver dropped create panic liquidity crunch doesn't attract buyer's investors staying away observing the situation.

Long term affect will not be much lucrative unlike yester years.

More over awareness among collectors doesn't permit  dealers to steal from their pockets.

Cheers

[Coinsforever]

I too did not have an FB account till I logged in due to persistant pressure from our member Husain Makda. I thank him for that. I have always been skeptical of sharing information on a public platform and even now, do not have either my picture nor any personal info (except date of birth) on FB.

I would recommend you and all others who are not on FB (due to possible invasion of privacy or data sharing of your account on an open forum) to get on to FB but restrict yourselves to just specific forums - especially hobby forums...... without divulging too much personal info. I have gained enormously.

Amit

I too  enrolled recently 3 weeks ago with bare minimum personal data and information.


Cheers

[mitresh]

Guys, you really inspired me and today I opened a Facebook account in my name. However, I'm clueless as to what to do next? How do I join the various coin forums? Pl help, if reqd, send me PM.