@Lakesammman said:
Here's the CU3000 - don't see much downward movement in 1986. I started buying coins in 1995 simply because that's when I had the money to do so, rather than good timing of the market.
the problem with the PCGS index is it uses many common coins to track their data points based off of homerun halls business model form the 80s. I suspect if it tracked rarities, scarce type, gold and obsolete branch mints it would look completely different. chart ) O,D,C,CC gold or non-morgan CC silver and you will see a market more indicative off what current specialists encounter
I don't know what people bought after 1989, but I do know that a lot of incompetent, so-called dealers bought the farm. It was survival of the fittest when the hot air went out of the balloon.
In the crash of 1980, I remember "collector coins" like circ early type and S-VDB's plussing on the CDN for a number of months after the "investment coin" boom crashed. The collector coins seemed relatively cheap because they had not increased as much as the investor coins, and people who still had money to spend on coins must have seen them as something of a safe haven.
Andy Lustig
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Just to add in... remember, in 1989 there was also the collapse of the former Soviet Union that affected gold prices... and I'm assuming along with it... prices on more common date bullion gold. It's sort of quaint seeing a price for an ounce of gold at just over $400/oz, but I also recall buying 1 oz bullion pieces for ~$275/oz in the late 1990's...
The '89 Pittsburg show was weird. There was one dealer selling piles of mint sets and people were pawing through them like they were going out of style. The '69 set at suddenly climbed to a wholesale price of $20 up from about $3.50 and they were even grabbing them. They were just all spread out over several tables with a dozen buyers poking through them at a time.
I had never seen any excitement over mint sets before and haven't seen it again since.
This might have been the pre-show but I also saw an Indian dealer with a huge stock including the '60's era mint and proof sets. He wasn't swarmed but these were sets that were never seen and I neglected to buy any. Some of these go for thousands of dollars now and I passed them because he wanted around $10 which was 4x catalog.
It was one of the strangest shows I've ever seen. The whole drive out there was an experience. There were lots of Morgans and walkers for sale.
Comments
the problem with the PCGS index is it uses many common coins to track their data points based off of homerun halls business model form the 80s. I suspect if it tracked rarities, scarce type, gold and obsolete branch mints it would look completely different. chart ) O,D,C,CC gold or non-morgan CC silver and you will see a market more indicative off what current specialists encounter
11.5$ Southern Dollars, The little “Big Easy” set
I don't know what people bought after 1989, but I do know that a lot of incompetent, so-called dealers bought the farm. It was survival of the fittest when the hot air went out of the balloon.
In the crash of 1980, I remember "collector coins" like circ early type and S-VDB's plussing on the CDN for a number of months after the "investment coin" boom crashed. The collector coins seemed relatively cheap because they had not increased as much as the investor coins, and people who still had money to spend on coins must have seen them as something of a safe haven.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
A lot were still "coming down" from the silver madness.
Just to add in... remember, in 1989 there was also the collapse of the former Soviet Union that affected gold prices... and I'm assuming along with it... prices on more common date bullion gold. It's sort of quaint seeing a price for an ounce of gold at just over $400/oz, but I also recall buying 1 oz bullion pieces for ~$275/oz in the late 1990's...
https://www.latimes.com/archives/la-xpm-1989-12-14-fi-483-story.html
Successful BST transactions with: SilverEagles92; Ahrensdad; Smitty; GregHansen; Lablade; Mercury10c; copperflopper; whatsup; KISHU1; scrapman1077, crispy, canadanz, smallchange, robkool, Mission16, ranshdow, ibzman350, Fallguy, Collectorcoins, SurfinxHI, jwitten, Walkerguy21D, dsessom.
The '89 Pittsburg show was weird. There was one dealer selling piles of mint sets and people were pawing through them like they were going out of style. The '69 set at suddenly climbed to a wholesale price of $20 up from about $3.50 and they were even grabbing them. They were just all spread out over several tables with a dozen buyers poking through them at a time.
I had never seen any excitement over mint sets before and haven't seen it again since.
This might have been the pre-show but I also saw an Indian dealer with a huge stock including the '60's era mint and proof sets. He wasn't swarmed but these were sets that were never seen and I neglected to buy any. Some of these go for thousands of dollars now and I passed them because he wanted around $10 which was 4x catalog.
It was one of the strangest shows I've ever seen. The whole drive out there was an experience. There were lots of Morgans and walkers for sale.