Have we entered a robust period for Collectable Coins at this point is world events as they are and the large amount of free time and people have (had) allong with emergency spending the world over? Or has prices been more bearish? (This is NOT a COVID thread and not a discussion on government spending... just the current coin market).
There's a lotta cash sloshing about and rare coins are a good way to move assets (unobserved). I don't see prices coming down for premium coins anytime soon.
Prices are definitely on the rise and have been for some time, especially for the premium quality coins
Image if you had a wealthy client who needed to convert $1 Billion into rare coins...and it was your job to make it happen! Btw, they're selling MS62 1893 Double Eagles on TV for the Low, Low price of just $3250.00 (while supplies last!).
If I understand correctly you have two basic questions. 1 - is stated in the quote above and I believe the answer to that one is a resounding yes ! And question #2 - you want to know why it has. Well, one could speculate and come up with all kinds of different reasons. But in the end I have always believed that when it comes to the sustained movement of any market, in either direction, the biggest underlying reason is typically basic human psychology. In this case I believe it started because simply thought that after 12 years of steady dropping that the market had finally reached its bottom, and they began buying. As you can see from the chart above that had occurred twice before. But the upturn was tentative the first time, moving slowly upward for about 2 years and only a small percentage. Only to fall back again even faster and much further than before. The second time it moved more quickly and more aggressively, only to reverse course and drop yet some more. In both cases it appears that people simply didn't believe that the upturn was sustainable. This time it started off a little tentatively at first, stayed fairly steady direction wise for about a year, and then took off like the proverbial scalded cat. Making a strong and fairly consistent climb. This kind of movement, in either direction, is usually attributable to what is commonly called jumping on the bandwagon. Simply put, after 12 years of sustained drop people are tired of seeing it and will reach out and grab any excuse to jump on board and ride the market up. Again, typically, this kind of movement doesn't usually last very long because usually sooner rather than later people see an opportunity to take profits. And, fast aggressive movement makes people nervous for they fear it cannot last. Couple that with profit taking that is occurring and the market will reverse course. Often for a short time, and then it will reverse again only this time on a slower and more steady rate. Steady and consistent is what people want to see. That is what they have faith in, that is what they believe will last. People's beliefs, their psychology, is driven by two things, fear and confidence, and both are very powerful forces. But, they are also both quite fragile so that psychology can easily and quickly change for any number of reasons. And typically there are quite a few of them - different reasons for different people. And none of them, or even all, of them may be valid reasons. And that is the nature of psychology, that is the nature of humans. And human nature is the single most powerful force there is when it comes to the movement of markets - any market.
that is broadly based on US coins, including a lot of classic commens, and most at high end grades MS65 https://www.pcgs.com/prices/pcgs3000 - quite a collection on one can assemble such a thing PCGS3000® Index List Price Guide PCGS3000 Index Index List edited - just post a link to the list, doing what you did was beyond ridiculous.
I've looked at a number of coins where I compared prices to the spread sheet of what was stolen from the family, and prices for most coins has significantly increased. I can not longer touch some of the coins that had been stolen, especially the ancient Zuzzim. I wanted to pring one of those on my father for Rosh Hashana, but the prices have tripled. SLQs have seeming doubled, and other coins, like high grade mercuries, they have also seemingly doubled. All the Israel coins we had, most of which were purchased from the mint, those are OUT OF SITE. And the one I wanted to really pick up was this these two https://en.numista.com/catalogue/pieces34913.html http://www.mrbrklyn.com/chatam_sofer.html This coin is nearly untouchable. Abba always said the collection was unique, but I didn't realize exactly what that meant. Just trying to replace a few of the coins is teaching me. And the market seems very very strong.
I figured that people hanging around there computers with extra cash in their pockets might be driving a bump.
Up, Down, all around. Ride the wave or stay out of the water. My opinion, stay on the beach and what for the tide to go down. Great question, thanks.
the list might change in the future and so might the link, which would render the discussion difficult to understand. The list is almost all US coins. Perth Mint, medevil German, Ancient greek coins, indian coins etc are not in that representation. For better or worst, that is what this market gage measures.
Well I think it depends on what you're looking for. If you want a MS graded 1921 Peace dollar right now, they're off the charts. I bought a MS61 last December for $300 shipped and just watched a 61 sell tonight for $880 plus $15 shipping. 24 bids This is common now. Have watched many 61s sell for over double what I paid 8 months ago. Last December you could get a really nice 64 for 750 to 900. now they want $1k+ for 62s. $10 gold indians are off the charts. Anything with a CAC sticker is selling for strong premiums. I bought a MS65 Peace for my type set last year for $110 shipped and just saw the same coin same grade at a show for $325. Morgans seem to be up across the board, especially CCs. The new proof ASEs are doubling the moment they hit the market. The new Morgans and Peace are selling strong on the secondary markets as pre-sales. Nobody even has any in hand. During these times it's good to focus on something more obscure if you really have an itch to scratch. Maybe now's the time to look at buffalo nickels Franklin halves or classic commemoratives. I'm not a big collector of commemoratives but I have obtained a few of the classics recently at great prices. Nobody's looking. Need to zig when everyone else is zagging. Where's the extra cash coming from? Who knows? I think the moral of the story is not everyone is unemployed and in fact theres still millions of people doing quite well. You just don't hear about them. The extra child tax credits coming out early are probably helping drive some of it.
Most likely after the last year, many more buyers are looking online than they were before. One of the biggest things is that online all the money you would have spent for a show is now available for the purchase. You also have the fact that most people have more money if they still stayed employed without vacations and everything else.
The list of the coins that make up the PCGS 3000 has never changed, and neither has the link. What I objected to was posting the list in its entirety, all 3000 coins, forcing readers to scroll down the page for 5 minutes just to see the next post. You're correct, the list is composed of only US coins, there are no others. If there was such a thing as a list/chart that tracks the world coin market I would have used that as well - but no such list/chart exist. That said, the world coin market has been completely different than the US coin market. The world coin market has been going up and only up for 18 years now. Such a thing is unprecedented. And it is way, way past due for a correction.
