Are the grading services ruining coin collecting?

Simple answer - no. But given the original question Mike, you must think something is. So who or what is ruining coin collecting then ? Again, the simple answer - collectors. Yeah that's right - we are. Now before ya get started with the cries of righteous indignation you need to stop and think about what I just said, and then think about it some more.

Ever hear the saying - Burn me once and shame on you, but burn me twice and shame on me. Well, it's true, and it very appropriately lays the blame squarely where it belongs - right on us. But people are never willing to admit that to themselves let alone others. They would much prefer to lay the blame on somebody else - it always has to be the bad guy's fault. My fault ? It can't be. Yeah, well, it is your fault. It's your fault because you allowed it to happen. You had the control, you had the money, you had to be the one say yes and hand the money over before anything could happen. But happen it did - so how can it not be your fault ?

Let me ask a question - when a person sitting at home watching their TV agrees to pay $99 for a Morgan dollar to the company selling them on TV - whose fault is it ? On whom does the responsibility lie for paying $99 for something that is only worth $20 - on the seller or the buyer ? If you have trouble answering that question correctly then you are among those who would blame the grading companies.

Grading companies don't set the prices - we do. Coin dealers don't set the prices - we do. We the buyers are the ones in control, we have the money. We are the only ones who can say yes and hand the money over or say no and walk away - we make the decisions and nobody else. And because of that the responsibility for our actions and decisions lies squarely on us and nobody else.

Now you say oh that's not true, we don't set the prices - they do. But your wrong. Want proof ? What happens at car dealerships when the economy slows down ? Sales slow down, right. And what happens then - prices go down. Why ? Because nobody was buying cars. The car buyers were in control because it's their money and they weren't spending it. It happens every day in all facets of life. And the very same thing is true with coins.

Prices only go up on coins because we, the collectors, continue to pay them. When we stop paying them, prices go back down - every single time and without exception. So when it comes right down to it, who's ruining the hobby ? Well to me the answer is obvious, but most will deny it. To me a better question would be why ? And to me, that too has a simple answer - greed. I think that pretty much says it all.