Where Do You See the Coin Market by This Fall?

dragon

Here's a post I recently made in another thread with my opinion:


" As I see it, the coin market is overbought, over-hyped, and over extended, and prices have already met resistence levels in most areas and are probably headed lower. We are also entering the typical summer slowdown. Yet.....Heritage continues to send me 5 lb. boxes of their upcoming auction catalogs. I think a LOT of people also feel this market is way over extended and overpriced, hence the massive amount of auction lots being offered recently by Heritage and others. I've got a 3' tall stack of auction catalogs just in the past 4-5 months.......who the hell is buying all these coins ??"

What is your opinion, and do you see coin prices (in general) leveling off, going higher still, or going lower??

LincolnCentMan

I think a lot of people are making the same observations as you. I'm very concerned about it and have possitioned myself accordingly. I put a poll up about a week ago. The consencous seemed to be that the market would hold it's own or grow a little over the next year. Interesting...

David

Darkmane

just my newbie opinion but:

although things have been sold like mad.... they have also been bought like mad..... and at ridiculous prices! i think this is a GOOD sign, not a poor one. all i know is that this early in my collecting career, i would love to see prices go down if prices go up, however, it will help me sleep at night

i guess im just easy to please

mrearlygold

I've specialized in early gold for a long long time.

You won't see me reaching out and buying any 1799 eagles in AU for over 20 G's as a case in point, that's for sure. I sure enjoyed selling ( more than a dozen of just that date) for way less though with the highest being 17G's and who I just got him OUT after 3 months to a sharp dealer for 20+ and took the money in on trade against the least likely type of gold coin people who know me would expect me to be trading.

That's not to say there aren't some genuine bargains in the early realm as there are and most collectors as well as investors don't even have a clue except what the giant companies write. And in that case you have to think, they have a giant overhead to match. Somebody's gotta pay for that.

People who are careful and who know this business will make money, and people who aren't and who don't will get slaughtered. And it'll happen fast too.


Tom