Are sky-high prices causing you to lose interest?

291fifth · January 10, 2008 4:32AM

The top end of the coin market seems to be out-of-control. Are you feeling that:

1. Nothing is a good value for the money.

2. You are priced out of the market for quality coins.

3. Your interest is faltering as a result of 1 & 2.

tmcsr69 · January 10, 2008 4:35AM

Only in gold coins.

BigRed · January 10, 2008 4:49AM

You are correct, I don't buy much anymore, just read the forum for entertainment.

Rarity · January 10, 2008 4:52AM

You're correct. As a result, I only bought from the Mint in 06 and 07 but probably not anymore

RYK · January 10, 2008 4:52AM

1. Yes

2. Yes

3. To some degree

ziggy29 · January 10, 2008 5:00AM

My interest is as high as ever. But the "satisfaction quotient" -- which I could define mathematically as interest divided by affordability level in the quality stuff I want to collect -- is steadily dropping as the denominator goes to infinity.

It's frustrating as a collector to feel shut out of a larger and larger piece of the market each month, but at least places like this let me live vicariously through the coins of others which they generously "share" virtually on this and other sites. I suppose if I didn't have a place like this to keep talking about coins and looking at the cool new acquisitions of others, I would have probably burned out completely by now.

moonshine · January 10, 2008 5:02AM

*nod*

Joe26 · January 10, 2008 5:11AM

With the US in or heading for a recession, I'm just stashing cash and waiting for the coin market to come back to earth like the housing market is doing now.

ziggy29 · January 10, 2008 5:13AM

It's amazing how once you get enough people to believe a recession is coming, it's almost unavoidable. It becomes a self-fulfilling prophecy.

BobGreene · January 10, 2008 5:14AM

My favorite collecting area is U.S. type, but I haven't been able to afford a decent addition to my set in about 2 years. I keep thinking that the coin market will soon top out and things will turn around for me, but prices only keep going up and up and up. It's quite frustrating! As a result, I've had to revert to working on EF-AU Lincolns and Indian cents for a Dansco. I would sorely love to be able to get back to my type set.

ricko · January 10, 2008 5:21AM

"Are sky-high prices causing you to lose interest?"

Only on sky high priced coins. The others are fine.

Cheers, RickO

northcoin · January 10, 2008 5:25AM

I've convinced myself to enjoy more the possession rather than the acquisition.

DeusExMachina · January 10, 2008 5:47AM

<< <i>The top end of the coin market seems to be out-of-control. Are you feeling that:

1. Nothing is a good value for the money.

2. You are priced out of the market for quality coins.

3. Your interest is faltering as a result of 1 & 2. >>

I guess it depends on what you consider to be the "top end." I have picked up some very interesting coins over the past few months. As a result, my interest is gaining momentum.

doh · January 10, 2008 5:52AM

I buy coins I like and want to keep for the long haul. While I want to get as much for my money as possible, higher prices bother me less because I know I'm going to own the coins for years. I'm not a dealer or a flipper. Yes, prices are higher, but if I really love the coin and plan to keep it, it doesn't really matter that much. Except that a PCGS AU58 1955 Double Die is about $2k. That blows my mind.

Edited to add: "I've convinced myself to enjoy more the possession rather than the acquisition." I like that thought. Good call!

mercurynut · January 10, 2008 5:53AM

3. Your interest is faltering as a result of 1 & 2. and a couple of other reasons based on slabbed coins.

BECOKA · January 10, 2008 5:58AM

Yes
Yes
No, just more work

SmallEagle · January 10, 2008 5:59AM

1. No.
2. No.
3. No, my interest is keen.

Tonedbuff · January 10, 2008 6:02AM

In some areas, I have lost interest due to inflated prices...

However, I have just picked up elsewhere. I am currently very interested in acquiring non CC DMPL morgans, especially toned DMPL's.
Tremendous rarity, great eye appeal, and some bargains still to be found (though geting harder really quickly!).

Every market presents oppotunities, you just have to find them.

tmcsr69 · January 10, 2008 6:04AM

<< <i>It's amazing how once you get enough people to believe a recession is coming, it's almost unavoidable. It becomes a self-fulfilling prophecy. >>

notwilight · January 10, 2008 6:15AM

No. It's a free market. adjust your expecations. last year's prices don't look good compared to 10 yrs ago. This year's prices doen't look good compared to last year. --Jerry

cmerlo1 · January 10, 2008 6:20AM

I mainly cherrypick, so as far as I'm concerned, the price is great on almost everything I buy!

DarkStar · January 10, 2008 6:33AM

1) not really
2) no
3) no

itsnotjustme · January 10, 2008 6:37AM

Yes
Yes
No - Only auctions!

I put in a real bid on a DB half in the Heritage auction. I guess it was a scarce die mariage, as it went for double what I would have thought was a competitive bid. Thus I bought another off e-bay that had a BIN I could swallow.

Bochiman · January 10, 2008 7:04AM

Skyrocketing prices made me continually adjust what I wanted to spend money on.
A few years back, it was Morgans.
Those kept going up.

Then, it was Franklins and ASEs. Silver goes up, milkspotting becomes news, I get out of ASEs except for some 2006 3pc sets, nicely toned ones, or raw sets for the kid and myself. Franklins get the book filled and then just a few upgrades. Prices are still ok on them.

Coppers came to play for us after that. Prices keep going up. Got most of what I want and now only get the occassional due to prices.

Son got hooked on toned silver roosevelts, for some strange reason

. Prices are still ok on those so we play there for him.

My interest in coins hasn't faltered but depending where the prices are, I will move series to series.

Longacre · January 10, 2008 7:20AM

I am finding less value in my area of interest.

joecopper · January 10, 2008 5:22PM

Nice XF and AU Lincolns and Indians are really challenging -- I think that there is still money tb be made there in the long term.

veryfine · January 10, 2008 8:34PM

I definitely had to rethink my coin collecting strategy. For example, there are several date/mintmark sets I wanted to complete. But the keys and semi keys have skyrocketed to a point where I had to give up hope.
But, one can adjust and still acquire some great looking coins. For example, MS 65-66 prices might be out of control, so why not "settle" for a 64 or 63? Perhaps the whole mint state goal is beyond your budget, so why not go for some beautiful AU-55 or AU-58s?
Maybe those "S" "D" and "O" dates stop you in your tracks, but a nice date set of your favorite series can still be challenging and fun.

TheRaven · January 10, 2008 10:07PM

Not really.....

I started VG Barber Quarters and Halves because minus the monsters in the quarters everything else is very reasonable, when good stuff can be found.....

Working on gold type and other then the annoying $3 coin I just have to work on the $1 coins for a 12 piece set, I started with the big coins because of concerns about gold going up.....

If something is expensive put off collecting it for awhile the prices might drop after the coin market cools.....

Sunnywood · January 10, 2008 10:16PM

1. YES
2. YES
3. I'm getting there.

Look at the prices fetched by the proof seated quarters ex Kaufman. Something's wrong here ... a confluence of several bidders representing the worst mix of runaway CEO compensation and runaway Wall Street compensation ... a demonstration of the extreme divergence of wealth at the high end from everyone else. I can no longer afford to start new high-end collecting projects.

BECOKA · January 11, 2008 3:00AM

<< <i>1. YES
2. YES
3. I'm getting there.

Look at the prices fetched by the proof seated quarters ex Kaufman. Something's wrong here ... a confluence of several bidders representing the worst mix of runaway CEO compensation and runaway Wall Street compensation ... a demonstration of the extreme divergence of wealth at the high end from everyone else. I can no longer afford to start new high-end collecting projects. >>

So why not try a quality low end collection, that can be quite challenging finding the right XF45 look.

ModernCrapNut · January 11, 2008 3:07AM

Yes, I'm losing interest in buying fuel for my car. Think I'll just stay home and quit spending money on entertainment and restaurants.

SmallEagle · January 11, 2008 3:21AM

<< <i>a confluence of several bidders representing the worst mix of runaway CEO compensation and runaway Wall Street compensation >>

Unfortunately we can't all be doctors and dentists.

lkenefic · January 11, 2008 3:29AM

1. Yes
2. Yes
3. ...in some areas...

I've definitely scaled back in my expectations for the short term on most of what I'm interested in.

Leo

jmski52 · January 11, 2008 3:59AM

1. Nothing is a good value for the money.

That's how I felt 20 years ago.

2. You are priced out of the market for quality coins.

That's how I felt 20 years ago.

3. Your interest is faltering as a result of 1 & 2.

That's why I got interested in American Eagles 20 years ago.

I have No Regrets.

Cameonut · January 11, 2008 5:07AM

I guess I gotta say that I will not be buying cameos at these pricing levels. I do feel fortunate I finished my set a couple of years ago and went into 'upgrade mode'. So this year I will be a net seller instead of a net buyer.

There is still hope of finding raw cameos out there even if they are much tougher to find. So the hunt will keep me going to coin shows.

However, I have been able to find a few series that appear to be overlooked and have been accumulating those pieces. (don't ask what I am buying - my secret)

ILikeMercs · January 11, 2008 5:09AM

yep..the gem short set of Mercs is gone as are the Proof 67 Merc set.

Gemineye · January 11, 2008 5:25AM

While my coin collecting interest is not my only interest and my budget must in encompass all of my interests I do have be selective in my purchases.Coin collecting does not consume a large portion of my spending as does other interests.More likely this year I will probably spend more than last year.I hope not....But I'm sure that's gonna happen...

Are sky-high prices causing you to lose interest?

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