2004 coin market?

GOLDSAINT

2004 coin market?
Well how does everyone feel about the 2004 market now that the year has started? The first two big auctions and the Fun show are done, gold is down some, the stock market is up some, and it appears interests rates are headed up this year. Will we have a hot coin market, a stable market, or a down market?

Cam40

good question

i,m probably wrong but it seems that the buying frenzy of the last few years has dried up the supplies

everyones sitting on what they have and waiting to sell sometime later?

the stuff on Ebay looks like common junk OR super high-end and the seller wants moon money.

depressing.

ladyship

I have no real feel for the 2004 market, but I did think the Heritage auctions went well last week. The prices at least seemed fair, and not over valued. I have bid in several of their auctions and always got out bid, this time I bid on 16 coins and won 6. I did have to pay about retail for 5 but bought one coin for less than wholesale. One other thing I did notice was that many overpriced items, with high reserves, did not sell and are now available at “make offers”. I am also one of those that believe we will see higher interest rates this year and some real inflation in 2005, but I don’t think we will see the inflation until after the 2004 elections. I also agree with Cam that supplies are drying up and perhaps this might slow things down. I for one am not going to pay very high prices just to fill holes.

mercurynut

Its time for the market to take a quick breather. Nothing can go up month after month. I have noticed a big drop in availability of blast white coins.

291fifth

Problem-free coins before 1925 will continue to do well because they actually have some degree of rarity. Dealer inventories seem to be loaded with second-rate material at the moment. Collectors, who are now able to sell their best coins on eBay or thru the major auctions, are just not offering the "good stuff" to dealers anymore.

cladking

In all probability the market is just catching its breath and stabilizing from the
huge tranfers represented by the recent auctions. As these coins are distributed
there will be huge increases in the activity and prices in the market.

This will appear across the entire market and include most all coins to some degree.

Any set back at the current time would simply be short lived and result in larger gains.
later.

Bear

You have to look really long and hard to find quality examples

of coins in the particular grade you are seeking..This will tend to slow down

the frenzy. Published prices are being held down by the tremendous supply of

marginal , substandard and overgraded material overhanging the market. I just wish

I could take all of this silver type and Commem garbage, melt it down and make ingots of it.

Then we would see the good stuff come out of the woodwork for us to buy as price start to go up.

The best kinds of markets for all concerned is slow and steady with gradual increases in prices in

a normal orderly fashion.

OnlyBuffalos

I believe the market for original skin coins will continue "hot". The very large majority of certified early silver coins presently for sale are hairlined and/or lack original luster. Eye appealing coins without the above mentioned problems will continue to be in very strong demand as more collectors come to realize the scarcity of available specimens and the desirability of such coinage in all grades.

More collectors will try to sell their less desirable coins in order to compete for these coins and the market for coins that lack the "original" attributes will be softer.

More collectors will be drawn to type sets as they discover the beauty of diversity in their holdings.

The US Mint will issue more collectible products as they are well aware of the profitability of doing so.

The volume of coin transactions on eBay will continue to grow but the quality of material being offered will further decline.

The problems at PCGS currently associated with economy and modern submissions will be difficult to remedy as the demand for PCGS slabs will increase even more as collectors will continue the trend of buying the slab and not the coin.