I think you're on to something here, Bill. I've also noticed this market distortion between auctions and shows. It makes sense that the tens of millions being saved for, spent on, and taken away from these sales has an impact on the market. It also makes sense that we would see more money leaving the coin market than coming in as the baby boomers or their estates start selling their collections.
This leaves me unwilling to get into bidding wars on the popular material I've enjoyed for so long. However, like your interest in British coins, I've started collecting medieval Iberian coins which has rekindled my interest in coins. It's fun to be able to buy truly rare coins for under $50, not be blown out of the water at auctions, and be able to apply all the things I've learned with US coins to my new interests.
<< <i>There has been a lot of talk about how dead the bourse floors are, and how so many coin series seem to be in doldrums. Back in 1980 the Garrett Collection sales set all kinds of price records, and many dealers thought they sucked a lot of money out of the coin market. The result was that there was huge market correction that did not revive for almost a decade.
Is that what we are seeing now with sales like Pogue and Gardner? It seems like it. Those sales take money out of the coin market, because the Pogue and Gardner are picking up their chips and leaving the table. >>
Where are the coins going? Are they going into new up and coming collections with new money that is coming into the hobby?
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This leaves me unwilling to get into bidding wars on the popular material I've enjoyed for so long. However, like your interest in British coins, I've started collecting medieval Iberian coins which has rekindled my interest in coins. It's fun to be able to buy truly rare coins for under $50, not be blown out of the water at auctions, and be able to apply all the things I've learned with US coins to my new interests.
<< <i>There has been a lot of talk about how dead the bourse floors are, and how so many coin series seem to be in doldrums. Back in 1980 the Garrett Collection sales set all kinds of price records, and many dealers thought they sucked a lot of money out of the coin market. The result was that there was huge market correction that did not revive for almost a decade.
Is that what we are seeing now with sales like Pogue and Gardner? It seems like it. Those sales take money out of the coin market, because the Pogue and Gardner are picking up their chips and leaving the table. >>
Where are the coins going? Are they going into new up and coming collections with new money that is coming into the hobby?