Market Trending Perceptions?
EDB
Posts: 23 ✭✭
After reading recent diverse topic coin market trending threads, a question or two surfaced. Thought it would be interesting in hearing others opinions.
Question 1:
Based on recent coin market trending threads, should one conclude the coin collector market is on par with other perceived sleazy, treacherous, buyer beware, overly risky related markets, i.e. is it?
E.g., digesting the list of comments related to CAC (pro / con) market influence, TPG over grading, under grading, subjective grading, dealer grading preference suggestions, multiple re-submission coin dynamics, preferred / devalued TPG labels, perceived unscrupulous auction house percentage grabbing / in-house shill bidding, TV marketers, …. the list goes on, and on, and on. All variables describing an environment conducive to financially targeting / disadvantaging the collector.
Question 2:
If such market perceptions are valid, why should any “new” collector / existing casual collector, be compelled to engage in / consider staying on board with funding coin collecting?
Comments
I think you'll need to name some of these markets for a better example. For example, are you thinking of the stock market, real estate market, high yield bond market, rare painting market, classic car market, used car market, etc.?
Because it's fun?
Question 2:
If such market perceptions are valid, why should any “new” collector / existing casual collector, be compelled to engage in / consider staying on board with funding coin collecting?
Because it's challenging to try to "beat" dealers, other collectors etc. at their "game."
There are no reasons given the above parameters all pointing to the profit motive behind everyone's avarice. Let the players play. You? We? wait until the next manipulated rise in coin prices.
In the mean time learn who Carter Glass is/was and why the economy has Dodd-Frank today.
Read about Col Green and Hetty his Mom. Collect for cultural and artistic pursuits, experiential reasons. Visit Philadelphia, go to Christ Church cemetery visit B. Franklin. Bach, see Tadeusz Kosciuszko home and the few coins and possessions. Go to NH and VT cross the Connecticut River transverse both states in/on the covered bridge. Visit Augustus Saint Gauden's home in Cornish NH. See Stockbridge in Mass, Metal Detect in Connecticut.
Go visit Burnside's Bridge at Antietam. Go to Gettysburg, visit the town. Visit Mt Vernon, see the pane of glass Eliza P. Custis scratched his name in 1793 on Christmas in his room. Learn that Fredericksburg is a Colonial town. Visit Stratford house Light horse Harry Lee's home, open the rear doors and see the beautiful view of Va. and the Cherubs in the fireplace and why. See, R.E. Lees home Arlington house. Visit Fort Sumter, Get a blue passport book and have it stamped every where you go by the Park Ranger, collect the colorful stamp. See Savannah, read "Midnight in the Garden of Good and Evil"
Learn why someone likes SLQs and the Roaring twenties. Take pictures, bring the family and friends all these things tie into Coins.
Technology and the rare coin market, heritage auction results and buy prices, CAC, PCGS, NGC, Ebay makes everything visible. I once tried to dump a coin,my own reasons, I had just bought from a "crap dealer" on ebay. The dealer I tried to take the loss with within 5 minutes handed me the coin and said; "You just bought this from So and So Co."
CAC epitomizes the next best thing in an attempt to draw more people into a very flawed "hobby" one dependent upon more players. 50% margins and millennials???? Try and explain it to that generation. No one can afford the over priced, over graded, coin hobby. You see if it doesn't implode there is no next run up and with no run up, all that's left is Art, History and Culture.
I can go on and on. I have done them all and more and if you don't live on the East Coast then do it where you live.
Dang, that's the first time I saw the word avarice in this forum.
The total US numismatic market is too small to have any meaningful "trends" except up, down, and duhhh.
Very nice post . . .
I debated this as a PM, but then thought I would take my medicine here publically . . .
I cannot see how anyone would still look at our hobby as anything like it was 10 years ago, or before. I collect now for passion, and at times really wonder why I buy anything anymore except for educational or personal desires. Local shows are dying with the same tired inventory. Deep pocket collectors are battling still, but auction trends seem to be showing declining prices (with exceptions of course). The overall economy is not supporting discretionary income for many, and the days of 1982-2006 where the average collector cruised the bourse floor with a Dansco or two and filled holes seem to be well over.
I certainly agree with Zoins . . . I have an enormous amount of fun, and the hobby allows me to gain a great diversion from the norm, associate with likeminded collectors, and interact here and elsewhere for information and education. Yes, I collect primarily for the joy of it with 'fun' money, but I notice the overall trends changing in the 'collector' end of things. I just hope I am wrong, but I notice at the several shows I do per year (it is educational to see the 'other' side of the table) where I market collector and eye-appeal pieces, the traffic has been intermittent at best and even pricing coins at very advantageous options for the buyer leads to fewer and fewer sales as each year goes by.
It is still fun. That is why I will visit local shops, pore through stock albums at shows, and spend $800 for a weekend travelling to a show in order to make $150 (like next weekend in Florence, OR). I wouldn't trade it for anything . . . but I regret that the next generation may not have the same opportunity or fun that I have had . . .
Drunner
So many fall prey to the story lines promulgated by the instant, two dimensional electronic medium we all indulge in today. The hobby of coin collecting is alive and well.... the markets have evolved, certainly. Those who limit themselves to the old markets (which are still active) will think the hobby has diminished. Not so. Part of the market - a considerable part - has gone electronic. Websites, ebay, Instagram and others now also market coins - and doing very well. Yes, there are coin doctors, counterfeiters, scam artists etc. out there.. deal with it, they have always been there - perhaps in other forms, but crooks nonetheless. There are plenty of young people in the hobby, lots of all ages... and, actually, a sizeable female sector. Bemoaning perceived issues solves nothing. Learn, indulge, experiment, communicate..... Enjoy the hobby. Cheers, RickO