How has the coin market looked over the last year? We were discussing a softening of prices the last I had a chance to really look in, right after the election. And we might have seen some softening. Has prices held up? Ruben
I guess it depends on what you buy or sell. It's hard to lump coins as a whole into a single market. I've been buying a lot of large cents lately, and from what I've seen the market for them has been in the dumpster, which is great for buying. Large silver coins have been selling hot, so I've stayed away. Depending on where you're focusing the market is either up or down at any given time. Guy~
I wouldn't say large cents have been in the dumpster. Some of the ones I have been looking for are priced out of this world. At least when I can find them. I think some of the lower grades have held ground or dropped back a little and yet the higher grades have seemed to start going higher. I really can't say about the market in general.
Based on what I've seen, Morgans continue to appreciate, as do most gold coins, if for no other reason than the underlying bullion value continues to go up.
PCGS3000 Index shows prices are down over the last six months. I collect Buffalos and Walkers and believe there has been a general softening, particularly for common date coins in those series. Really nice coins in high grades have held their value a little better but are still down overall. There are exceptions. For instance, higher grade Type 1 Proof Buffalos have gone up quite a bit in the last year.:hatch:
I agree I bought a roll of morgans for $16.00 each common dates and sold them one at a time to people I knew or worked with for $22.00. They were gald to get them and want more. I didn't make a killing but they wanted them knowing Silver was Silver. Ice
Silver Jewelery is pretty cheap right now. The hysterics over gold is overshadowing the silver. Ruben
There is no doubt at all that the market is down, and has been down for 2 years now. Some segments have shown some rebound, or at least stopped dropping, due to promotions. But that is the dealers doing everything they can to save their livelihood. You have to remember, many dealers bought their stock at or near the market peak. And what they didn't buy at the peak they bought as the market continued downwards. So pretty much everything they have was purchased at more than they can sell it for. So they do promotions. They go out and buy up as much of a given type as they can and run numerous ads and have the sales staff really work their contacts, and work them hard. This buying activity tends to slow down the downward slide. And if they can do enough of it, they can even get the graph to move sideways showing some stability. That brings in more buyers. And that allows to dealers to unload their stock. Probably at a loss still, but at least they are selling off what they have which allows to them to buy new stock at current prices. Then they continue their promotions and hope to make a small profit of some stuff - just to stay in the game. That's the key - to stay in the game. For eventually every retail market stabilizes, and along the way there will be small upturns on some stuff allowing them to make a living. I don't know if anyone has noticed, but some things that have always moved upwards, are no longer moving upwards, but downwards. Take the 1995-W ASE. For over 20 years that coin did nothing but go up in price. At the top, that coin raw was selling for $6000 and up. Recently, even graded examples have sold for as low as $1897. Now that should be an eye opener.
At some point, prices will rise due to cheaper dollars after the market realizes you can't just print money without higher production without inflation. Now how long will it take to actually rise in value is something else. Anybody holding debt will be losers. People holding physical commodities will profit. Hyperinflation WILL happen within 7 years. Now coins with bullion value will ride the trend. Numismatic Value will probably take a hit like the rest of the economy. A huge reversal of the trend of high end coins rising faster than low and middle grade coins is what I suspect for a short while as exorbitant numismatic premiums for the highest grades follow general economic trends. Middle and low grade coins just don't have that far to fall. Of course, I could be wrong.
I just assumed the twenty years was about ASE's in general and the 1995-W was a specific example within the broader category. I guess I failed the test.
If that's what you guys want to discuss take it to the GD forum, or the bullion forum. Let's stay on track here.
Ruben, The toned coin market is doing very well to the dismay of all the naysayers who claim that it is a fad. There has been considerable softness in the average toned common date Morgan dollars but higher end Morgans and registry quality toners from other series are doing very well indeed. Eye appeal is always in style. I could provide examples but I think I should do it in another thread since it would most likely highjack this thread. Paul
ROFL... I was waiting for this reply from you. Go ahead...hijack the thread. It is better than it being hijacked for the survivialist movement there are a number of quality people on Coin Talk that make this place worth returning to...and you are one of those people Paul. Ruben
