High prices of US coins due to greed?

The one thing I might add, is not only does the expectation of an increase in value keep prices up, but every year thousands, if not tens of thousands of collections are started. If only a few collectors stay active, that in itself can increase demand. Now, some coin series that can no longer be found in circulation may level off a bit. But a percentage of collectors will complete a set, then try to expand it backwards in time. Like a collector who nearly completes a LMC set with all the years and mints who stays in the hobby. Where's he gonna go, except Wheats, then Indians, etc.

When the economy improves and people can once again afford frivilious things like coins, watch the prices move then. I doubt it will be downward. IMHO

gary

 

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You've got a long, loooooooongggggggggg way to go yet.

 

I remember hearing something of this sort... I also remember hearing that a US coin dealer in Britain heard the news and almost immediately sold his stock at "discounted" Prices. Funny thing is the next week the news came and the buyers were ticked off.

 

Coins are frivolous things? I think not!

 

Of course they are frivolous! Do you think these things are really necessary? Do you have to have them for your survival? Can you not...get.....along........without...........

Never mind.

 

Oops!

 

I think you've hit the nail on the head! Price guides are useless for determining the amount a coin will be sold for, therefore you must now get rid of all of your price guides (you can keep the red book --- just make sure to redact [that means to mark it all out so you can no longer see it] all the price information!) and actually learn what coins you are interested in are worth, as opposed to looking at a guide and saying "ok, I want one of these, and this guide says It's retail price is 50.00", and expecting IN ALL CASES to pay the retail price the guide says, and not more. :devil: