Are Classic Commems the poster child for a much larger portion of the rare coin market?

MrEureka · March 16, 2012 12:00AM

Classic commems have been dead so long that you have to ask "What went wrong?" (Yes, I know that wildly toned coins are a completely different story.) I would argue that commems have become so easy to find, to grade and to price that they're just not that interesting to collect.

Do you agree with my explanation? What other segments of the market have the same problem? What will it take to breathe life into the market?

TwoKopeiki · March 16, 2012 1:08AM

What would be considered a "classic commem" of Darkside coinage?

WorldTypeSet · March 16, 2012 1:17AM

I think the "easy to find" is the biggest downside.

As an example ... I've always liked the Hawaiian 25 cents design, and would like to purchase one for my type set one day. But, there's no rush, as they are always available online, in a variety of grades. So, years go by while I spend my cash elsewhere.

ajaan · March 16, 2012 1:21AM

Classic Canadian commems?

MrEureka · March 16, 2012 2:08AM

Interesting. Obviously (I think), I posted this thread to the wrong forum. But now that I think about it, I can't think of any similar situations in non-US coins.

WWW · March 16, 2012 2:31AM

I wouldn't call it dead, but Canada has cooled off considerably.

coinkat · March 16, 2012 3:40AM

How about some of the German Commems?

bosox · March 16, 2012 5:17AM

Canada has cooled off, but I expect the older stuff to come back in a rising economy. By older, I mean Victorian, Edward, George V. A lot does depend on how many younger collectors there will be to fill the shoes of us old farts and how many lite-siders defect to the greyside in the future.

From my perspective, right now there is no firm top end to the market. The best coins are locked up and probably will not come out until the market rises, or the owners die. Lots and lots of mediocre 65 (no eye appeal, ICCS stuff that will not cross, etc.), as well as 64 and 63, material on the market now. Very little of the known very nice high 65 and 66 stuff is available in open sales (those without very high reserves) over the past couple of years. The Canadiana sale was the last time and $5 million in great coins got sucked up in a heartbeat and disappeared.

Without that available supply to create demand and excitement at the top, I suspect the entire greyside market will languish for a while longer. At the post-Belzberg sale peak of the market in the 2003 to 2006 time frame, five or six high grade collectors were killing each other at the top and, to a large extent, floating the rest of the market higher. It can and probably will happen again. If you do not believe me, put a top two or three census Victorian coin in a no reserve auction and see what happens.

As for the "classic commem" analogy, look at high end George VI and Liz. Except for a few key George VI dates, the prices went wild five or six years ago because the pop reports didn't have many high 65's or 66's, then quickly deflated as many cracked open their rolls, had them certified, and cashed out.

JamesMurray · March 16, 2012 5:29AM

<< What would be considered a "classic commem" of Darkside coinage? >>

Genuine Maundy sets

TwoKopeiki · March 16, 2012 8:04AM

<< 

<< What would be considered a "classic commem" of Darkside coinage? >>

Genuine Maundy sets >>

I was thinking proclamation coinage.

SYRACUSIAN · March 16, 2012 9:46AM

<< Classic commems have been dead so long that you have to ask "What went wrong?" (Yes, I know that wildly toned coins are a completely different story.) I would argue that commems have become so easy to find, to grade and to price that they're just not that interesting to collect.

Do you agree with my explanation? >>

As far as the US Classic Commems are concerned, I don't. To me, they are Darkside coins anyway. There was a time that I've started doing the 50 type set in a Dansco album and in a decent MS63 condition for the easiest one third of the set to purchase. Even though I'm no big fan of the readily available coins, I find this series to be a very interesting set to assemble. Evidently, I've stopped around halfway, when each addition of a new piece, would have started competing with my main collection, and it could no longer be a side collection.

But I remember them with fondness, and I'm always attracted and tempted by nice examples. The Stone Mountain design for instance, is among the quintessential US coins for me. The way I understand it, these coins were minted for collectors and sold at twice their nominal value anyway, and therefore the availability in various unc grades never hit me as something strange. It was only recently that I was informed that some of the 1920s issues were used in circulation during the Great Depression, otherwise I couldn't understand why some of them show up so worn sometimes.

worldcoinguy · March 16, 2012 1:44PM

<< What would be considered a "classic commem" of Darkside coinage? >>

In terms of german states I would argue that the "death issued" coinage would qualify, which might include death of an emperor, state leader, or church figure (sede vacante). Proclamation coinage is a good example also.

Are Classic Commems the poster child for a much larger portion of the rare coin market?

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