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fishcooker
Posts: 3,446 ✭✭
Local news radio this morning reported on the rising "rare coin" market and how all the rich people were buying there. This was not an info-mercial, it was the actual morning news.
Is the shoe-shine guy on to it yet?
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Comments
<< <i>Definitely time to start preparing for the big sell off. >>
What is it exactly that we should do to prepare for a big sell off? And why would rich people coming into the market cause a sell off? How soon will the sell off begin?
Jerry
Also, the rich dudes are not in the market for daytrading. They are in it for the long haul.
will have a buyer buy coins for him what will move this market is the common buyer getting in
he will buy any thing if it looks good with a slick seller
then the end will be awhile just like the stock market in the late 90's
i think theirs a few years on this market yet
but never say never
<< <i>The "unknowledgeable people" have top guns in the business advising them. >>
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Yeah, just like they did when they were loading up on tech stocks in the late 1990's. Bubbles don't care about "experts." They burst of their own volition.
Russ, NCNE
<< <i>Yeah, just like they did when they were loading up on tech stocks in the late 1990's. Bubbles don't care about "experts." They burst of their own volition. >>
I believe they sold when the small fish were buying. In the end the 9-5 person got fried.
it that a crash is set up. When you think about it though, it's hard for gains in the thousands
of percent to go unnoticed indefinitely. Watch for speculation and when you think you see it
either sell or try something else. It's possible to miss the crashes if you watch what's going on
around you. When speculation is seen don't be greedy. Yes, you'll miss the up trends too, but
it is always the crashes that are most destructive.
<< <i>I believe they sold when the small fish were buying. In the end the 9-5 person got fried. >>
I know several very wealthy people who lost boatloads of money. I also know some small fry that got out in the spring of 2000 - the ones who listened to me.
Russ, NCNE
<< <i>Every market has to run its course. In the stock market, the shoe shine boy got in 5 to 6 years before the large correction. Give the coin market a little time will ya. Its almost as if some folks on this board want the coin market to crash. Maybe they want to buy coins cheaper. I guess everyone is self serving in some way.
As a collector who doesn't sell, I'd love for the coin market to crash
Self Indulgence | Holey Coins | Flickr Photostream
On the contrary, I think, these "rich dudes" are in it for the short haul. Most will want to buy, hold for a short period of time, not on a "daytrading" basis, but definitely on a defined time period like a year or two, and then unload. By definition, "investor" buys in order to sell for a profit. Folks who do this, particularly on the advice of a "financial planner", are not going to be "into" coins, and will not want to hold for the long term. They are trying to make money, pure and simple.
Once the popular media gets full swing into promotion of coins as "investment", prices will rise fast, and crash faster (sooner or later) and no, it's not "different this time"
the only questions in my mind are: 1) how long the bull market will continue, and how high prices will go, before the inevitable crash, and 2) how low will the crash take the market? to currrent levels? below? or still above current levels?
Liberty: Parent of Science & Industry
I don't expect a crash, but I am prepared for one. It is extremely unwise to invest in anything without preparation, regardless of what the Advisors (sic) say..
The various markets do not behave that differently, given long enough timeframes. Basically, people react the same. I suspect the coin market being reported within the morning business news segment portends higher, more insane prices.... before the crash inevitable to such a thin, illiquid market. The ice is think so come on out.
<< <i>Is the shoe-shine guy on to it yet? >>
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since 8/1/6
<< <i>Where would a declining market first show up? Would it be in auction results, lowering of retail sails prices, seeing the same coin in inventories for long times? I mean, what is the best indicator that the end is near and prices are reversing? >>
When the coins you bought at wholesale prices start selling for a lower than you paid.
What part of the country had this as news?
What part of the country had this as news?
I'm in the Houston Galleria on business this week.
The big buyers whether they bought for the "long haul" or the "short haul" will dump when it looks like things may continue to drop for years....a la the 1990's. They can buy back all those same nice coins, and nicer ones, as the market sinks to the bottom as it always does.
But on the good side, our inflation register has only started to gather attention. Until the shoe shine guy starts screaming "INFLATION" along with everyone else, we have plenty of time to watch the up cycle. Inflation (via our weak dollar policy and the returns of trillions to our shores) will take the market up (in depressed dollars of course) and then a stronger dollar will take it down. Hang on.
roadrunner
to spend 3 months on this Forum before being allowed
to buy a coin. Sort of like getting a Learners Permit, before
being allowed to drive a car.
Camelot
Hopefully, the market will readjust of it's own volition within a reasonable time frame...I am concerned about the price of gold and silver (which went over $8.00 today). In the interim, I'll just take it a day at a time.
How did you get such a large icon picture in your post? That's neat !!
Paul
My guess is that we are at the start of a bubble. I think it will inflate for a while to come. Prices for many coins haven't inflated much yet. I am in no rush to sell everything.