One fairly large local dealer told me his business was a third to a half of what it was last year. I follow his and other's sales on ebay, business is slow. At the higher end, coins in the thousands may be a different story.
I can give the names of 50 other dealers who are observing the same thing to varying degrees in various areas. Some are fully thriving. Is this the beginning of the end or the end of the beginning? To me, it's in a stabilized plateau.
It's safe to go into the water again. No riptides likely to sweep us back into another dip.
IMHO the business is alive and well.
My 401K grows too fast within the market segments so to "diversify" I lowered my contribution and started a coin collection a few months ago. I love having those beautiful coins in my possession rather than investing in precious metal / mining stocks.
I kinda thought "Got a phone call from a prominent dealer last night from whom I had never bought just as a "get to know you" call." was sorta forthcoming.
At that level I sure didn't see any reason for going into elaborate detail.
I sure know that my word is good most places.
It always will be ...here.... I can assure that.
@ElKevvo said:
...And I am still waiting for Classic Commems to take off...any day now! Waiting...waiting...and still waiting!
K
.
.
They are sitting on the launch pad, fueled up and ready to go somewhere. I can feel it. It's just where they are going that has me wondering. Oh well, I still like them even if the market doesn't.
I think it depends on what you collect and the degree of access you have to such coins. One problem I have is by the time I can get at a coin I like, it has passed through two or three hands and the price doesn't interest me.
Other problems are gradeflation and many people thinking they can get full market pricing for said grade-inflated coins.
As a result, I'm not in a hurry to buy anything, and what I want to buy is so expensive for me, I might be looking at one purchase a year, assuming I can find the coin(s). I haven't bought anything in at least two years.
"Vou invadir o Nordeste, "Seu cabra da peste, "Sou Mangueira......."
My collecting, for the past several years, has been very specific. I get an interest in a coin...perhaps from a post, perhaps a numismatic book, the spark could come from anywhere. Then I start looking... and I find, that specimens that interest me are a) Not common, and b) Highly priced. When I say highly priced, I mean above what one would expect based on research and general comments. I guess I am getting too selective in my dotage. Cheers, RickO
@ricko said:
My collecting, for the past several years, has been very specific. I get an interest in a coin...perhaps from a post, perhaps a numismatic book, the spark could come from anywhere. Then I start looking... and I find, that specimens that interest me are a) Not common, and b) Highly priced. When I say highly priced, I mean above what one would expect based on research and general comments. I guess I am getting too selective in my dotage. Cheers, RickO
Many nice, historic pieces that I would have snapped up fifteen years ago are just too pricey today. Some of the priciness is 'the eBay effect' (sellers ask the moon and the stars for most everything), and some of it is just getting older (it's harder to pay the freight bill when you can remember when you got as nice or nicer for one-third the price).
The funny part about your statement is the majority of coins have not kept up with inflation. I know this statement will probably open a can of worms but if you look at the overall market(of which there are certainly outliers) I believe it is true!
@ricko said:
My collecting, for the past several years, has been very specific. I get an interest in a coin...perhaps from a post, perhaps a numismatic book, the spark could come from anywhere. Then I start looking... and I find, that specimens that interest me are a) Not common, and b) Highly priced. When I say highly priced, I mean above what one would expect based on research and general comments. I guess I am getting too selective in my dotage. Cheers, RickO
Many nice, historic pieces that I would have snapped up fifteen years ago are just too pricey today. Some of the priciness is 'the eBay effect' (sellers ask the moon and the stars for most everything), and some of it is just getting older (it's harder to pay the freight bill when you can remember when you got as nice or nicer for one-third the price).
In my world I have been purchasing them at smaller and smaller premiums but alas, I am sitting on dead money. Just about any other asset class would have beaten my returns. I still buy them when I get a "deal" relative to the bullion price.
None of my purchases have the CAC label.
What do I think of the coin market? I guess you don't have to be a rocket scientist to analyze my thoughts.
Comments
One fairly large local dealer told me his business was a third to a half of what it was last year. I follow his and other's sales on ebay, business is slow. At the higher end, coins in the thousands may be a different story.
IMHO the business is alive and well.
My 401K grows too fast within the market segments so to "diversify" I lowered my contribution and started a coin collection a few months ago. I love having those beautiful coins in my possession rather than investing in precious metal / mining stocks.
I kinda thought "Got a phone call from a prominent dealer last night from whom I had never bought just as a "get to know you" call." was sorta forthcoming.
At that level I sure didn't see any reason for going into elaborate detail.
I sure know that my word is good most places.
It always will be ...here.... I can assure that.
.
.
They are sitting on the launch pad, fueled up and ready to go somewhere. I can feel it. It's just where they are going that has me wondering. Oh well, I still like them even if the market doesn't.
.
.
"To Be Esteemed Be Useful" - 1792 Birch Cent --- "I personally think we developed language because of our deep need to complain." - Lily Tomlin
I think it depends on what you collect and the degree of access you have to such coins. One problem I have is by the time I can get at a coin I like, it has passed through two or three hands and the price doesn't interest me.
Other problems are gradeflation and many people thinking they can get full market pricing for said grade-inflated coins.
As a result, I'm not in a hurry to buy anything, and what I want to buy is so expensive for me, I might be looking at one purchase a year, assuming I can find the coin(s). I haven't bought anything in at least two years.
"Seu cabra da peste,
"Sou Mangueira......."
Pollyanna lives!
https://en.m.wikipedia.org/wiki/Pollyanna
My collecting, for the past several years, has been very specific. I get an interest in a coin...perhaps from a post, perhaps a numismatic book, the spark could come from anywhere. Then I start looking... and I find, that specimens that interest me are a) Not common, and b) Highly priced. When I say highly priced, I mean above what one would expect based on research and general comments. I guess I am getting too selective in my dotage.
Cheers, RickO
Many nice, historic pieces that I would have snapped up fifteen years ago are just too pricey today. Some of the priciness is 'the eBay effect' (sellers ask the moon and the stars for most everything), and some of it is just getting older (it's harder to pay the freight bill when you can remember when you got as nice or nicer for one-third the price).
The funny part about your statement is the majority of coins have not kept up with inflation. I know this statement will probably open a can of worms but if you look at the overall market(of which there are certainly outliers) I believe it is true!
@amwldcoin
That is a whole 'nuther can of worms, talkin' 'bout 'flation!
People have so many definitions and points of reference.
You gotta specify the time period you're talking about too.
I'm the guy who buys generic $20 double eagles.
In my world I have been purchasing them at smaller and smaller premiums but alas, I am sitting on dead money. Just about any other asset class would have beaten my returns. I still buy them when I get a "deal" relative to the bullion price.
None of my purchases have the CAC label.
What do I think of the coin market? I guess you don't have to be a rocket scientist to analyze my thoughts.