Where the smart money is heading in today's coin market.
bidask
Posts: 14,052 ✭✭✭✭✭
I manage money. I earn money. I save money .
I give away money. I collect money.
I don’t love money . I do love the Lord God.
I give away money. I collect money.
I don’t love money . I do love the Lord God.
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and also
'If you're not passionate--why bother?'
Those two tips from the interview kind of sums it up for me.
Interesting little video.
Thanks for posting.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
``https://ebay.us/m/KxolR5
Joseph J. Singleton - First Superintendent of the U.S. Branch Mint in Dahlonega Georgia
Findley Ridge Collection
About Findley Ridge
Great interview! David is a great guy who will share his knowledge till the cows come home. It's a shame he doesn't post here much anymore.
totally agree. he always takes time to talk with me about pioneer gold and has evaluated my pieces at shows. he's very knowledgeable and always has great coins on display/for sale.
The hobby of kings ... unfortunately.
You don't have to be a king to enjoy this hobby or to own rare and exciting coins.
Latin American Collection
The hobby of kings ... unfortunately.
You don't have to be a king to enjoy this hobby or to own rare and exciting coins.
There's a jester in every court.
And, a wild kingdom, it can be.
``https://ebay.us/m/KxolR5
Latin American Collection
The hobby of kings ... unfortunately.
You've said that you no longer collect, but like to keep learning. So why do you see fit to throw acid p*** on any glimmer of sunshine or a post that actually shares some knowledge or opinion. SMH.
10-4,
My Instagram picturesErik
My registry sets
The hobby of kings ... unfortunately.
Not if you are smart.
The hobby of kings ... unfortunately.
You've said that you no longer collect, but like to keep learning. So why do you see fit to throw acid p*** on any glimmer of sunshine or a post that actually shares some knowledge or opinion. SMH.
Some people have nothing to do.
I'm struck by your use of the word "unfortunately".
You know, there are a million things that people collect that are inexpensive, downright cheap or even free. Would collecting these be considered "fortunate"?
Coin Rarities Online
collect what gets my notice as i'm a simple collector
graded coin sale at link below
https://photos.google.com/album/AF1QipNItjHsIF_1nPvk5MqennKhv-5_TZcOr7ac9jB0
Truer words have never been spoken. Seeing reality through the lens of coins is very fundamental to my perspective and helps allow me to seek other perspectives and vantages. Perspective is not important in seeing reality but the ability to understand it is critical.
The day that collectors become interested primarily in rarity is the day the hobby will change forever. Far too many people are looking for the quick buck and the upgrade candidate while the real profits lie in the passion of which the intervuee speaks. If he's right then the monetary profits will not only continue to flow to the passionate but the trend will greatly accelerate.
I believe he's correct about rarity becoming more important and I believe the reason it will become more important is the existence of the internet and third party grading which bring the knowledge of, and the ability to buy to all people right in their homes. People who aren't familiar with a rare item simply aren't in the market for it. People who aren't passionate about collecting usually can't tell rare from common unless the Redbook tells them.
mark
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
mark
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Today, Coin Collecting extends well beyond the traditional view of rarity. Look at condition rarity across the spectrum, surviving populations and how collections are being assembled. We are in a collecting environment of change. And the world is a much smaller place with opportunities that are easier to overlook. Taking the time to explore in an effort to appreciate the world coin market seems to be better use of time. Look at the rising middle class in various countries and the history of those countries with an eye on what coins have an appeal. Seems this strategy has worked well for those that chose to collect coins from Poland, China and among other countries.
Experience the World through Numismatics...it's more than you can imagine.
You heard it here 1st - buy a computer before a coin.
Sophisticated buyers looking for sophisticated coins. It's always been that way at the upper levels. He wants coins with interesting stories, undoctored, not messed with, etc. That's probably not a CAC MS66 1881-s Morgan dollar. Personally, I don't agree that there has been a major change in top level buyer's logic. They've been trying to buy the most sophisticated coins all along, well before TPG's came along. It's not as easy as looking for a CAC sticker, checking pop reports and price guides, and auction results to "ensure" you get a great coin. But I think a lot of people believe that today. The hard, boots on the ground research is done outside of those sources. Yes, buy a computer before the coin...but, you still have to pound the pavement regardless.
You can't become a top level buyer/collector/investor just by reading and researching on the internet. "Stretching" for something really doesn't guarantee anything. We saw a number of great Newman coins that went for huge numbers as bidders "stretched." And next time out, some of those dropped 30-40% in just 1 year, for up to 6 figure losses. So much for stretching. The one time I "stretched" at a major auction (1982) I exceeded my pre-auction bid by 50% to ensure I didn't miss this possible once in a lifetime opportunity. Because of that stretch, that coin well under-performed the overall market over the next 8-20 years. I'd have been better off buying a plain old generic/slabbed type coin. And that coin is still the finest known 34 years later.
Is sophistication in today's coin market a +, star, green/gold football, secure holder, ogh/rattler/old fatty, etc? To most it is. To others it's just eye appeal. The smart money in the coin market is doing what it always has done. Today is really no different than the logic used in the 1980's.
If the author is correct that we're at another 20 year generational low point in the coin market (ie 1995-1996), then most boats will get lifted as the sophisticated coins take off. Choice and gem nickel, silver, and gold type coins that have been languishing for the past 7 years will also do well. It's reasonable to assume that a lot of investor/collector money left the market in 2006-2009 and hasn't come back yet. There's not enough "great coins" for them to buy if they all chose to do so. Good and ok coins will have to do for 75-90% of the market. Watch the bullion, commodity, stock and currency markets to see if this is indeed a once in a generation move beginning.