TOPIC: Kentucky prices dry 10/13/14

Some states allow anyone to certify ginseng. Others allow only dealers to certify. In pretty much every state, you cannot possess uncertified past March 31 though.

I don't think anyone is trying to scare anyone here either. I\"m just providing my opinion based on what I know is going on in the market. I think the other dealers are doing the same thing. It is beyond our control what happens in China and if one or a dozen large importers who handle 50% or more of the ginseng harvest in a given year decide they want to get together and restrict prices, they likely could do that. However, that doesn't make any US dealer dishonest or mean they are trying to scare diggers into selling cheap or otherwise trying to take unfair advantage.

Right now, the market is VERY dangerous for dealers and many are quitting for the year already rather than risk taking a loss or a greater loss than they already have.

Few simple words to go by.....
The more diggers that hold there sang the less that's goin to market... The less goin to market they raise price to bring more to market.... Simple as that its not rocket science!!!!
Hold it they will open up there wallets BLACK FRIDAY!!!

xl seng wrote:

Few simple words to go by.....
The more diggers that hold there sang the less that's goin to market... The less goin to market they raise price to bring more to market.... Simple as that its not rocket science!!!!
Hold it they will open up there wallets BLACK FRIDAY!!!

Good luck

Is it just me or do some people indirectly try to act as if ginseng has little value, and that few are interested in purchasing. Everyone has opinions i guess soon this newb will see who is right me being the newb. Im gonna call a few dealers tomorrow and post the prices they quote. Hope you all have a great weekend and, good luck to those fellow deer hunters.

Hawk84,

Seng has lower value the farther west you go. A lot of buyers want only seng east of I-75 hwy. Some people don't dig or handle their ginseng properly but expect the higher prices paid they hear about in WV and NC and in the high elevations of KY.
I paid $540 yesterday and that was actually cutting it too close but I was trying to help my diggers.
When you post prices quoted also post the lows not just the highs and what location so as not to misinform diggers.

rootman wrote:

Hawk84,

Seng has lower value the farther west you go. A lot of buyers want only seng east of I-75 hwy. Some people don't dig or handle their ginseng properly but expect the higher prices paid they hear about in WV and NC and in the high elevations of KY.
I paid $540 yesterday and that was actually cutting it too close but I was trying to help my diggers.
When you post prices quoted also post the lows not just the highs and what location so as not to misinform diggers.

i have been posting the lowest quote to the highest quote but have not posted the counties. Seems the further south i call in ky the lower the prices, the highest the last three times i have called around was in carter county and lewis county both right next to me im in greenup.

Hawk84 wrote:

Is it just me or do some people indirectly try to act as if ginseng has little value, and that few are interested in purchasing. Everyone has opinions i guess soon this newb will see who is right me being the newb. Im gonna call a few dealers tomorrow and post the prices they quote. Hope you all have a great weekend and, good luck to those fellow deer hunters.

No, not that it has little or no value, just that its value is relative to the market in which it trades. For instance, gold will likely never be of no value and an ounce of gold will likely always buy a loaf of bread. Right now, gold is around $1200/ounce. That is the price at which one can sell and one can buy. That doesn't mean you can't pay more, or even less. However, you won't buy much if you try to pay less, and you won't sell any if you try to sell for much more. I am not overly familiar but I don't think gold has grades of value like ginseng does which makes some worth more than other.

Now, if we accept that gold has value at some point, we parallel it with the ginseng market in theory. I know that gold is valued about $1200/oz today, so I would never pay $2000/oz to buy it, especially if I thought I wanted to sell it in the very near future for a modest profit. The same with ginseng. Its not that ginseng has little or no value, but that its value is relative to the market which right now is around the $500-600 mark with some local/regional markets higher and some lower, all depending on and subject to quality. It would be silly for anyone to pay $1000/lb for average run ginseng right now if they anticipate selling it for any profit in the next few months.

To add to that, ginseng's value to me might not be the same value it has to you. For instance, most every digger who walks in my door tells me how good their ginseng is. Unfortunately, many of them really don't understand how bad some of their stuff also is. Boney root has no value to me right now. Low quality root has only marginal value to me right now because I know that I will likely end up stuck with it or take a bath trying to get rid of it. So not only is ginseng's value subject to market conditions, but it is also to me personally (and every other dealer out there) subject to my estimation of the risk I will take trying to make a slight profit when I sell it.

I thought this thread was on ky. Dry ginseng all I see is page after page of bullshit...

prices in ky at paintsville stockyard 550 to 625 for good seng,,5 ginseng dealers was buying,2 dealers say its going up but slow

I just talked to one local dealer in grayson kentucky who is at 600 and he told me he was talking to a new buyer and stated he may be ablebto pay a little over 600. All others i called didnt answer, being sunday thats about what i expected.