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<p>[QUOTE=&quot;GDJMSP, post: 1871858, member: 112&quot;]This a graph of the coin market as a whole since 1970 - </p><p><br /></p><p><img src="http://www.pcgs.com/images/graphs/indexallgraph.gif" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /> </p><p><br /></p><p><br /></p><p>- look at 1982 to 1989. It wasn&#039;t just half dimes, it was all coins.</p><p><br /></p><p>As for why it happened, couple of reasons, and one brought about the other. In 1986 PCGS opened its doors, quickly followed by NGC in 1987. And as you can see by the graph nothing too crazy before that, but the TPGs caused and created what some saw as an opportunity. Wall Street stepped into the action. The new concept of slabbing/certifying coins, along with the TPG hype and advertising, gave them the idea that coins could be turned into investment vehicles. So they, Wall Street, created funds based on slabbed coins. Huge amounts of money poured in and prices shot to ridiculous levels. But in &#039;89 the bubble popped. The value of coins fell off a cliff, never to recover - still hasn&#039;t.</p><p><br /></p><p>Nobody could sell their coins fast enough. Tens, hundreds of thousands of people lost fortunes. This was quickly followed by a raft of lawsuits of course against coin dealers, Wall Street brokerage houses, and the TPGs. Many were settled.</p><p><br /></p><p>Wall Street was basically told to simply stay away. The TPGs and dealers were forbidden to ever use the term &quot;investment&quot; again, under threat of further action, when talking about coins. </p><p><br /></p><p>Of course our govt., authorities, and the people, have short memories and the word &quot;investment&quot; used in conjunction with coins, has again become quite popular. Why is it that people can never learn from the lessons that history teaches them ? <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie11" alt=":rolleyes:" unselectable="on" unselectable="on" />[/QUOTE]</p><p><br /></p>

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