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Message:: [QUOTE="World Colonial, post: 2510717, member: 78153"]I don't believe those changes are the result of demographics at all.  US prices for expensive coins have a substantial "investment" component versus collector buying. The inflated US price level is substantially and in many instances mostly the result of financial buying. There is or may be some shift from US to world coinage but the financial flows are so minimal I don't see that it is measurable. Though the size of the coin market (even the US coin market) is a pittance compared to other asset classes, most asset prices have been falling since at least 2011.  This includes most world stock markets, foreign currencies versus the dollar and commodities.  Its only because a few highly visible ones such as US stocks, sovereign and corporate bonds with negative yields from ZIRP and NRP and real estate in many markets have not that most people aren't aware of it. Silver and gold  are also in a bear market since May 2011 and YE 2011.  Many coins are bought as substitutes and with the metals performing poorly, there are presumably fewer buyers paying less.[/QUOTE]