Who was around during the last bear coin market?
Longacre
Posts: 16,717 ✭✭✭
Was anyone actively in the coin market during the last bear market (I think it might have been late 1990's through 2000)?
1. If so, how easy was it to purchase higher quality coins, or did everyone hold onto them (or did everyone try to sell to stem their losses)?
2. How much less were the prices?
3. Do you think today's market is overpriced, or will the bull trend continue?
Thanks.
1. If so, how easy was it to purchase higher quality coins, or did everyone hold onto them (or did everyone try to sell to stem their losses)?
2. How much less were the prices?
3. Do you think today's market is overpriced, or will the bull trend continue?
Thanks.
Always took candy from strangers
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
0
Comments
like high grades that got a little attention but most everything else had to be severely discounted to get much
interest. Lower priced, collector type coins were the roughest. G indians would sell for as little as $10 per roll
and even better dates weren't much better sellers. The major rarities, of course, were mostly unaffected but
other coins were very slow. This had the result of stopping many coins from even getting on the market, since
the owner knew they'd do poorly.
Moderns started picking up in '95 a little and this seemed to help everything. By '98 there was a definite recovery
underway though many prices weren't much affected until a couple yearts later.
There doesn't seem to be a lot of speculation in most of the market and demand is continuing to increase. It
seems there could be a lot of price pressure left that could affect broad spectrums of the market.
As I recall, at about that point, most of the "ordinary" collectors who had to cash out had by then. I remember going into a coin shop and watching the dealer pick the coins out of a stack of Dansco albums from a collection he had just bought (very cheaply, he said).
Going to our local 80-dealer coin show was a bit depressing: dealers had small inventories and there was almost no floor traffic. Most dealers would use any excuse not to buy a coin from a collector - it's got a rim ding, it's got a spot, etc. - almost everything was a "problem coin". At one show I went to, there was almost no floor traffic and dealers were listlessly trading inventory with each other.
Nicer coins were very hard to find - both "nice for the grade" and better dates. Anyone who owned a nicer coin would rather hold on to it than sell it into the depressed market, unless they were forced to sell it.
On the other hand, if you were interested in buying a coin from a dealer, they were very willing to sell it cheap, just to get some cash flow!
Check out the Southern Gold Society
There's always plenty to buy, even in the worst market, unless you're spending millions or restricted to a small market segment. The overpromoted coins got much cheaper in 82 and 92, as much as 90% less than the peaks. Other coins held firm or even increased. As far as the future goes, I'm still bullish, but SOME prices today seem unsustainable in the long run.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
<< <i>I'm still bullish, but SOME prices today seem unsustainable in the long run. >>
Care to be more specific, Andy?
Of course not. People own those coins. I don't need any enemies. Got enough already.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Camelot
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
<< <i>Of course not. People own those coins. I don't need any enemies. Got enough already.
Nice diplomatic answer! If you've got those customers, you kinda want to keep them...
Not exactly. The people that own those coins aren't customers. They're colleagues and THEIR customers.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Camelot
Yes.
Yes.
Yes, if I don't mind an early retirement.
I'm afraid so.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Huh?
Sure; nothing for sale in the first two years of the bear market between 1990 and 1992 except pleanty in the auctions.
I remember the 1996 B&M Norweb auction of Canadian coins. They gave the stuff away. People were so spent out on the previous few days auctions that they had no money left to spend.
I thought the bottom was also 1995. Supply was growing once prices firmed and sellers felt more comfortable selling their coins even at low prices since the stock market was starting to really skyrocket back up.
By 1996, sellers of large collections really started to saturate the market like never before. kept prices stable since the supply was so great. The allure of the stock market was that strong and a few untimely deaths of great collectors caused some of the sales.