Coin Flip Prices Gone Wild!

Discussion in 'Coin Chat' started by tommyc03, Jan 1, 2022.

  1. ToughCOINS

    ToughCOINS Dealer Member Moderator

    No, it is not surprising if you examine the facts. I didn't say fish farming was responsible for the increase in cod prices.

    Seafood is much higher across the board as the result of both reduced fishing activity and supply chain issues this past year . . . nothing to do with cod in particular. The only thing that has gone up less is salmon. Were it not for fish farming, the price of salmon would still be higher than that of cod. Salmon, because so much of that market volume is farmed, is far better insulated against the price increases recently experienced for wild-caught seafood, cod among them.
     
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  3. baseball21

    baseball21 Well-Known Member

    It is surprising for cod to be significantly more expensive than salmon. It's not surprising the prices have increased, it is a bit surprising that one has doubled in price in basically 3 years and almost tripled in under a decade.

    Cod prices absolutely without question were pushed higher from popularity prior to the last year. There absolutely is something particular with that fish in terms of pricing.

    More expensive fishes have seen smaller increases percentage wise during the same time including wild caught ones.
     
  4. ToughCOINS

    ToughCOINS Dealer Member Moderator

    Based on the evidence, I beg to differ with you, although I'll admit that I'm shocked at how much less cod is being caught recently, compared to decades ago. I don't know if the fisheries are dying off, or if fishing restrictions are to blame.
     
    MIGuy likes this.
  5. baseball21

    baseball21 Well-Known Member

    As someone that loves fish and ate it almost exclusively until the last 18 months I can assure you this started with cod long before covid. Even small things like up charging for the body and having the tail as the base price started a few years ago when it got popular. Its been accelerated but it is the fish that has seen the biggest percentage increase in the last few years and until recently it was because they can. It's the same thing with flank steak, it was considered trash cut that was cheap forever then got popular and became expensive because people love it. People figured out they're good and stores started charging what they could get away with because of it
     
  6. ToughCOINS

    ToughCOINS Dealer Member Moderator


    I’m not getting what you are seeing. The only salmon that’s less expensive than cod is farmed.
     
  7. baseball21

    baseball21 Well-Known Member

  8. ToughCOINS

    ToughCOINS Dealer Member Moderator

    Cherry-picking? Two can play that game.

    Try finding me any cut of any cod that’s pricier than the belly cut of a wild caught King Salmon.

    When you’re ready to admit that the lower cost salmon you were comparing cod against was almost certainly farmed, this discussion might be worth continuing.
     
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  9. baseball21

    baseball21 Well-Known Member

    Bringing in King Salmon would be cherry picking. Anyone that knows fish knows theres multiple types of salmon including some that are very expensive, but you know best why let prices matter right when cod loin is more expensive than salmon loin.

    In your words "this discussion might be worth continuing" when you can address why cod has increased at a significantly higher rate than other fish or other wild caught ones.
     
    Last edited: Jan 2, 2022
  10. ToughCOINS

    ToughCOINS Dealer Member Moderator

    You are one stubborn pain in the backside. Comparisons are below with supporting ads linked (today, 1/02/22) from the three sources you cited in your earlier post.

    Costco cod $13/lb
    Costco salmon $18/lb

    Whole Foods cod $15/lb
    Whole Foods salmon $17/lb

    Wegmans cod $16/lb
    Wegmans salmon $19/lb

    If you look in detail at each description, and at the selections I chose not to include, I omitted farmed fish in order to reinforce my point. Cod is not more expensive than wild salmon.
     
    Last edited: Jan 3, 2022
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  11. Publius2

    Publius2 Well-Known Member

    Does this mean we should store our coins in fish? If so, which type-wild or farm? Cod or salmon?
     
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  12. ToughCOINS

    ToughCOINS Dealer Member Moderator

    Sorry for going off on that tangent. I can’t remember if I got dragged into that one or if I did the dragging.

    Storing coins that way? I dunno . . . The fish would probably get heavy metals contamination.
     
  13. WashQuartJesse

    WashQuartJesse Member Supporter

    A quick reduction in quotas, fleet size, and overall stock in an environment where there’s increased enforcement, demand, fuel, labor, & supply chain related costs w/ little to no farming, would be my guess as to why the Atlantic Cod prices have risen (have not confirmed). The Cod “fishery” never seemed to be on the radar, until recently. My “guess” is that the entire Northeast price (for many decades) was offset by a large underground presence… I’d say that there have been relatively/more consistent quotas, fleet sizes, stock and enforcement/monitoring for the Pacific Salmon. Modern day supply cost increases would equate to the less drastic increase in a more stable market. Not taking any stance here, but definitely intrigued by this thread.
     
  14. Publius2

    Publius2 Well-Known Member

    Sorry, couldn't help the snark. Watching Seinfeld tonight and it's rubbed off.
     
  15. Marsden

    Marsden Well-Known Member

    Depends on what toning effect you're going for, of course.
    The King Salmon mentioned upthread delivers a rich, saturated color with an emphasis on rim toning.

    Yes of course it must be wild-caught, and the main problem I've noted is that the fish starts to smell some while before the toning is complete.

    For my next experiment I'm going to try the skillet method.
     
  16. cladking

    cladking Coin Collector

    And herein is the real key to everything and even life itself; do the opposite of what everyone else is doing. If everyone runs to starboard you run to port and when the ship capsizes at least you'll be on the top. If everyone is selling IBM or cobalt then buy. If everyone is collecting moderns and slipping them into flips then sell.

    That'll be the day.
     
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  17. charley

    charley Well-Known Member

    All I know is Loks and toasted Bagels with Cream Cheese and a slice of tomato for the win. I don't mind paying for the extra labor to cut it thin. So it is brine salmon. And.....? Still a win, especially the Scandinavian stuff. Smoked is better.

    I know stuff, and eat stuff.

    Then there is a good old Mackerel......
     
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  18. baseball21

    baseball21 Well-Known Member

    I'm not the stubborn one, I speak of which I know. It's really not hard to find weird ads that no one buys for shipping to try and fit a narrative. Or we could look at actual prices from stores

    Costco Salmon is 10.52 on instacart Cod is 10.51.

    Whole foods salmon is 10.99. Cod is 14.99

    Wegmans Salmons is 11.49 cod loins are 19.59 and cod tails are 14.99

    Those all have the same delivery markups for the price from the local stores. The price obviously varies a little bit by area you live in but given that I live in one of the most expensive parts of the country yes those are accurate representations.

    Anyone that doesn't believe just go to the store.

    PS you should try eating fish, its super healthy and delicious. You were right though it's clearly not worth continuing this
     
    Last edited: Jan 3, 2022
  19. baseball21

    baseball21 Well-Known Member

    Lol lot of truth to that, when people are panic selling stocks thats when you generally want to buy as we have seen, when people are flooding into PMs thats when you want to sell.
     
  20. Cherd

    Cherd Junior Member Supporter

    You mean, we can't just print $13 Trillion (Covid, Quantitative Easing, Infrastructure) and dump it into a $20 Trillion economy and not expect strange things to happen? Who would have thought!!?? :banghead:
     
  21. tommyc03

    tommyc03 Senior Member

    Truth to tell, outside of local New England news, cod gets little attention. Big news outlets do not seem to cover the cod industry so much. Off and on and off and on regulations and catch limits do affect cod. Ma., R.I., & Maine fishermen can vouch for this. As far as salmon goes, after watching a Netflix documentary of farmed fish I have stayed away from salmon. So much waste plus add in the diseases from close quarter farming and I've lost my appetite. And I love salmon.
     
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