Has the coin market cooled off?

Confirmed....

They went after lower-priced stuff....they weren't buying a semi-rare MS-65 CAC Morgan for $1,000. Or a Saint tracking gold that is gonna cost them $2,500.

They went after the lower-priced stuff so they could afford it and buy lots of them. They like to buy 10 items costing $100 instead of 1 quality exclusive piece costing $1,000.

Also Popular: Lower-grade Large Denomination U.S. bills ($500, $1000).

 

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So U.S. Small Denomination coins are strongly bid...do you know WHO is buying, young or old ? I thought by now you might see a demographic headwind for that kind of stuff.

Of course...it only takes 2 bidders to drive up the price of something.

Silver and gold stuff I figured would rise as you can always find stuff there in lower-grades that tracks the metal price.

 

I was the one who originally started this thread two years ago. This year I actually did really well. Anything silver sells for strong prices and overall I've had consistent sales. I sell mostly coins ranging from $2 to $20.

 

No idea. When I look at the auctions I’m usually out bid as the prices are too high and then you have to add in the commission. My LCS is busy every time I go in the store, mostly men younger than me but not by a lot.

 

John Albanese talks about how in 1985 the Type-2 $1 Gold Coin Market got "infected" by market grading not because of nefarious intentions but because the market dictated (interview from late-2022 so the price quoted for the $1 Gold Dollar was 2+ years ago):

I remember going back to 1985 when the hottest part of the market, the white-hot part of the market was the gold type sets. Marketing companies were selling them as MS63. And there are certain coins in gold type sets, certain coins that were really the toughest ones, like Type-2 $1 gold pieces, and five Indians, for example.

All of a sudden, literally, what is today’s $800 to $1,000 super slider Type-2 $1 piece was an MS63. It was $15,000 and people are paying $12,000 or $13,000, selling them for $15,000. To me, it was a head scratcher.

I remember sitting down with a large group of– it was probably the 32 original guys that made markets– and the guys at PCGS. We talked about grading status. I remember saying, "Hey, these are 58." And some said, "You can’t call those 58. They’re worth $15,000. They’re selling at 63." I said, "Yeah, but that’s now. There could be a day when they’re going to be AU again."

Fortunately, I think that the more technical rules prevail because PCGS never got into that trap in 1986 upgrading AU Type-2 ones 63. Fortunately by then, that market had collapsed. For those dealers, sales came way down and then all of sudden, grading got conservative.