For the dealers-- after the last market downturn, did you diversify your inventory or do business di

Longacre

This is a question for the veteran dealers who survived the last market downturn (it seems like eons ago, but I am sure there are some verterans on these boards who were around back then). After the downturn hit, did you do business differently afterward? In what way? For example, if you tended to specialize in Ike Dollars, did you decide that you were too concentrated in Ikes, and you should have a broader inventory selection so as to lessen the blow if a particular series went south? Or did you just weather the storm and remained specialized? What is the secret that you would give a wannabe as an inevitable correction approaches?

roadrunner

Many dealers just did not survive that downturn. A number went bankrupt and went to work for other dealers to pay off debts. I don't think a lot of them saw it coming. While one could hope they could have switched to moderns or key dates or Lincolns in 1991-1993, I doubt many did. For classic coins in other than circ grades, the 1990-1995 period was a long downturn that nearly convinced many long time players that coins might not come back.

roadrunner