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<p>[QUOTE="Gregg, post: 2928753, member: 90419"]I think that it is very possible that coin collecting is falling out of favor.</p><p>This has happened with other types of collectables - it certainly can happen to coins.</p><p>I cannot say that you're wrong.</p><p><br /></p><p>That aside, I'd like to offer a different theory for your consideration.</p><p><br /></p><p>I think the <i>downward correction </i>may be better explained by the rise of the internet - collectors are no longer held hostage by local coin shops. I can visit a local coin shop and they may not have a key date available (and they don't have to negotiate) - but I can find hundreds of that key date on eBay 24/7.</p><p><br /></p><p>The past 10 years is the first time in history these coins have been subject to actual market conditions - that is, where the entire population of a given key coin is put on the market in front of thousands of collectors. There are no geographical barriers anymore.</p><p><br /></p><p>My local coin shop wouldn't sell me cull Peace Dollars for anything less than $23.00. I logged onto eBay and bought 6 uncirculated Peace Dollars for $22.00 each - did the price drop there because culls are worth $22.00 and the number of collectors is shrinking <b>or</b> because cull Peace Dollars were never worth that much and the coin shop had artificially high prices that the internet has unmasked?</p><p><br /></p><p>Look what the internet has done to retail shops of every description. Amazon is killing them - it isn't because people are buying less stuff; but rather, they're just buying it smarter and the costs have gone down. (I can buy some stuff on Amazon for 1/3 what it costs locally - 1/3 less even with the cost of shipping - I'm buying more than ever and spending less doing it.)</p><p><br /></p><p>The downward correction may be showing us the actual value of these coins on the open market once the mask of 'rarity' as imposed by the local dealer monopoly has been removed.[/QUOTE]</p><p><br /></p>
[QUOTE="Gregg, post: 2928753, member: 90419"]I think that it is very possible that coin collecting is falling out of favor. This has happened with other types of collectables - it certainly can happen to coins. I cannot say that you're wrong. That aside, I'd like to offer a different theory for your consideration. I think the [I]downward correction [/I]may be better explained by the rise of the internet - collectors are no longer held hostage by local coin shops. I can visit a local coin shop and they may not have a key date available (and they don't have to negotiate) - but I can find hundreds of that key date on eBay 24/7. The past 10 years is the first time in history these coins have been subject to actual market conditions - that is, where the entire population of a given key coin is put on the market in front of thousands of collectors. There are no geographical barriers anymore. My local coin shop wouldn't sell me cull Peace Dollars for anything less than $23.00. I logged onto eBay and bought 6 uncirculated Peace Dollars for $22.00 each - did the price drop there because culls are worth $22.00 and the number of collectors is shrinking [B]or[/B] because cull Peace Dollars were never worth that much and the coin shop had artificially high prices that the internet has unmasked? Look what the internet has done to retail shops of every description. Amazon is killing them - it isn't because people are buying less stuff; but rather, they're just buying it smarter and the costs have gone down. (I can buy some stuff on Amazon for 1/3 what it costs locally - 1/3 less even with the cost of shipping - I'm buying more than ever and spending less doing it.) The downward correction may be showing us the actual value of these coins on the open market once the mask of 'rarity' as imposed by the local dealer monopoly has been removed.[/QUOTE]
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