With inflation skyrocketing and the cost of......
SanctionII
Posts: 12,285 ✭✭✭✭✭
.....goods and services going up dramatically has the market price on modestly priced widget ($50.00 or less) coins followed suit?
Or have the prices of these coins stayed flat?
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Last year's $50 coins are this year's $55-60 coins. I don't know about the $5 or $1 coins, though.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
I think it depends on the widget. I started a Morgan Dollar date set last year in all AU with rim toning... that was the thought anyway. Certified coins could be had in these grades for $40-50. I think they're more like $60-70 now...
I also collect Large Cents so some are more "widgety" than other... the later date 1850's copper can still be had in reasonable condition... ~VF for $50 or so, but you have to look at a LOT of corroded, cleaned, damaged, coins before finding a decent one. Higher grade copper seems to be bring stronger money.
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.
Considering we've had inflation (and interest rates!) at a bare minimum (I think?) for the last 20-25 years I guess the law of averages was bound to catch up with us...
At least it should make roll hunting cheaper?
D's: 50P,49S,45D+S,43D,41S,40D,39D+S,38D+S,37D+S,36S,35D+S,all 16-34's
Q's: 52S,47S,46S,40S,39S,38S,37D+S,36D+S,35D,34D,32D+S
74T: 241,435,610,654 97 Finest silver: 115,135,139,145,310
73T:31,55,61,62,63,64,65,66,67,68,80,152,165,189,213,235,237,257,341,344,377,379,390,422,433,453,480,497,545,554,563,580,606,613,630
95 Ultra GM Sets: Golden Prospects,HR Kings,On-Base Leaders,Power Plus,RBI Kings,Rising Stars
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Please treat this as a rhetorical question, with NO response required, as I insist we don’t bring politics onto the forum. Let’s keep it to coins please.
Regarding the question of the OP, I agree with others that lower priced coins have moved up a bit, but it may not be due to inflation, but due to increases of coin prices in general. A rising tide lifts all boats.
My collecting “Pride & Joy” is my PCGS Registry Dansco 7070 Set:
https://www.pcgs.com/setregistry/type-sets/design-type-sets/complete-dansco-7070-modified-type-set-1796-date/publishedset/213996
You make a political statement and then tell everyone else to avoid political statements...
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I asked a rhetorical question. I did not make a statement.
My collecting “Pride & Joy” is my PCGS Registry Dansco 7070 Set:
https://www.pcgs.com/setregistry/type-sets/design-type-sets/complete-dansco-7070-modified-type-set-1796-date/publishedset/213996
The entire thread has politics imbedded in it, I sure hope nobody gets banned over this thread.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Inflation is economics.
Do you really think that potentially inflammatory political statement is true? Don't get offended, just asking a question!!! And it's rhetorical so don't say anything!!!
Regardless of whether I agree with your statement or not that is a poor method of trying to make a point.
chopmarkedtradedollars.com
The large cent market has been like that for a long time. The reason is that the EAC people have branched out to die varieties and then die states. It used to be that one collector only needed a few examples of each year or less if they were collecting by Red Book variety. Now they have to have 10 or more pieces a year. That takes a lot of coins off the market.
A rhetorical question is a statement, that's what makes it rhetorical. Otherwise, you would want an answer to the question.
How can the topic of inflation be political when it's caused by Vladimir Putin?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Putin is a politician ...
I don't think the average collector has the money to support the hobby at this point. All throughout collecting history the bottom line is priorities and I don't think coins are high on the list of concerns. John Work Garrett railroad magnate as wealthy as he was rebuffed dealers at times as he "had better things to concentrate on" not some rarity. (1)
(1) paraphrased from Bowers book Garrett Collection
Depends on what you mean by "the hobby". There are different segments.
The high end is already driven by wealthy collectors. Unless the financial markets collapse, 8% inflation will not affect them.
At the bottom end, coin roll hunters and folder fillers don't need a lot of money to dabble. They may pull back a little on the $20 coin purchases.
In the middle... it's anyone's guess. If you routinely buy coins in the $100 to $1000 range, you may not be so rich that current inflation is insignificant. On the other hand, you have significant disposable income and aren't just going to stop buying.
I think a lot of it depends on how long it goes on. In the end, coins are just a hobby...well... and possibly an obsession. But it is an expense that one can surrender when other priorities are more important.
One also needs to consider the psychology of it. It is easy to justify the expense when your coins are going up in value. If you see a significant drop in prices in any market segment, you can amplify the drop with panicked selling.
So, because y'all love to hear me repeat myself, I'll give the same advice I always do: consider hobby expenses sunk costs not investments.
And, my more recent advice over the last year: be careful at these valuations. Things that go up quickly tend to correct, often just as quickly.
I would suggest watching the Morgan dollar market. It was a bellwether on the way up and could be on the way down as well.