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Who was the "smartest" dealer in the mid 1990's in predicting the current coin market? Hi
oreville
Posts: 11,795 ✭✭✭✭✭
I observed all of the dealers back in the 1990's.
Jay Parrino had the most incredible inventory in the mid 1990's. He had the most outlandish predictions in the mid 1990's. Everyone laughed at him.
It seems that nearly all of his predictions came true.
He was the "smartest."
In my opinion, he still is. He has an uncanny understanding of how this coin market works. I have yet to meet anyone that has quite his complete insight.
Flame away!!!!!
Jay Parrino had the most incredible inventory in the mid 1990's. He had the most outlandish predictions in the mid 1990's. Everyone laughed at him.
It seems that nearly all of his predictions came true.
He was the "smartest."
In my opinion, he still is. He has an uncanny understanding of how this coin market works. I have yet to meet anyone that has quite his complete insight.
Flame away!!!!!
A Collectors Universe poster since 1997!
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<< <i>Not too many flame throwers at 3 o'clock in the morning, Oreville! >>
It is only 1 am on the west coast.
Ask me no questions, I'll tell you no lies.
******
He believed very much in "famous coins."
siliconvalleycoins.com
<< <i>Hey, it is past 5 am where I am at right now. At a client in Canada >>
Ohhhh, is that why you don't anwer your email? This Warrior has had about enough for one day. There will be battles to be fought again later today. Peace all....and Good Night....you too Smitty!
Last one out, please turn out the lights!
which could keep this trend in place permenently or at the very least make it
a niche in the hobby permanently. The trend toward collecting the best was
growing even before the internet and the start of third party grading. While
it may well be just another bubble it will leave behind much more than previous
bubbles if so. It will leave many coins recognized as the finest or among the
finest, it will leave the registries and it will leave some interest in a wider array
of coins.
This is not to say I believe that high grade coins are just the current fad in the
hobby and will collapse without warning. Since this "fad" strikes at the very
core of why people collect, this time it's different.
Those wanting to get into high grade coins would be well advised to tread cau-
tiously and remember only a generation ago even the old rarities had very little
price spread from typical to superb and very few desired to pay up for even the
choicest coins. If one studies and looks at coins while doing a little buying and
selling he may protect himself from even the most subtle effects of mass behavior.
Collecting what you enjoy rather than what's hot is even more effective.
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)
I have to pull out the old article with the Rosen Advisory magazine in which he put his predictions right on the line back in 1996. He was very big on key date coins and condition rarities.
They were real head turners back then.
One of his favorite coins back then was the Brasher with stamping on the breast.
He owned JHF's 1894-S dime back then. He owned TDN's 1885 Trade Dollar back then. He owned the 1927-D $20 Saint back then. He owned the 1913 nickel back then. He owned almost everything with his backers at the same time.
I do not recall any dealer ever having so much inventory of different coins at any one time in the past 50 years.
His prices were very high at the time. But he had the stuff! he knew what his stuff was going to be worth.
Heck, he even owned half of the 1933 $20 Saint before the Feds tried to pull the goods on him. Who ended up being right on that score?
He was the closest to pulling off an "Eliasberg" as any dealer I had ever seen in the past 50 years.
-Daniel
-Aristotle
Dum loquimur fugerit invida aetas. Carpe diem quam minimum credula postero.
-Horace
<< <i>What were his predictions? >>
Haven't you been paying attention?
With specifics like that, we will all be rich.
Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."
Tale of two trade dollars ... one each route:
1885: purchased by Jay at Eliasberg for a bit over $900k. Advertised at $2M+ for several years. Made several offers in the $1.1-1.25M range and finally bought it at $1.5M the day of the Childs 1804 sale.
1884: upgraded [from NGC64] and crossed by Jay. Advertised for several years in the $425-450k range. Finally placed into auction where it was purchased at around $260k. Traded in when I bought the Eliasberg 1884 ... fulfilling a promise I made to myself to reunite the pair!
Yes. It's twice as big. That's why they were only able to make half as many coins, of course.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
roadrunner
has he made his millions in coins? and retired?
if only i would have........................................
He does not see the coins having quite the value they did 5-10 years ago.
ttt