I was able to pick this coin up the other day. I went and checked the Cert and seen it had sold way back in 2008 for $460! I didn't even pay 50% of that. Low 25K mintage. I'm hoping the toning looks better in hand. Can these prices keep falling even more? Even the Oregon Trail has fallen quite a bit from where I use to see prices at. What gives on this once popular series of coins?
Commems are in the toilet right now. That's good for me, because it means I can afford them. http://www.pcgs.com/prices/graph.aspx?range=10 years&filename=slvgld
I've noticed that condition rarity 1950-1967 high grade proof-SMS cameos are selling about 2/3's pcgs price guide. eBay Lincolns, Franklins and Kennedys.
Early Commemoratives have been a stale market for a couple years. And a stale market often results in falling prices. EXCEPTION: Prices are high on eBay. I suspect dealers trying to at least get their money back. Trying to take advantage of the newbies on eBay.
The one exception would be ones with great toning, but I am not even sure those are doing better than a few years ago.
I don't think it has anything to do with the series. It's the coin market as a whole. As I have posted numerous times over the last few months values in the US coin market as a whole have dropped to where they were in 2004. And yes they are still going down. Back in '08 when the market fell off the edge of a cliff I predicted that it would drop, at least, to where levels were in 2007. Which was considerably lower than where it was at the peak in '08. Well it blew through that level like it wasn't even there and kept on going. Where will it stop ? Who knows, but it's quite possible that it could go back to where it was in 2001, when the last bull market started. And maybe even lower. To be honest with you I think it goes back to what started the bull market to begin with - the stock market bubble popping. People were looking for someplace to put their money back then, and they found it in the coin market. And for 7 years it worked out great. But then 2008 came along and most know the story from there. The stock market and other investments, they recovered, the coin market didn't. And it's still dropping.
Looked for comps in inflation-adjusted dollars, 2000-2014, but couldn't find any. Nevertheless, there's a lot of ex-buyers on this chart. Household* incomes in 2014: *Census definition: Two or more persons related by blood, law, or marriage, occupying a single housing unit. (law=adoption or guardianship).
And I, for one hope the market does continue to fall. 1993 prices wouldn't bother me at all. 1973 prices would be even better.
Watcha mean right now? Commems have been unloved forever unless top pop and colorful or you are @green18
That would likely be a careful what you wish for scenario though. If prices fell that much you would like see the majority of nicer stuff pulled/held back from the market, maybe even the average stuff as well with that type of hit
For a while, sure. After a few years, people will give up holding and start selling anyway, realizing prices are never coming back. Either that or they'll start dying and their whole collections will come back to market.
After all "the sky is falling; I've gotta get out of here RIGHT NOW!" investor types dumped their holdings you are right--collectors would hold on to their nicer stuff. Eventually, however, just as PaulM says people would just accept the new market and start selling again if only to be able to take advantage of the lower prices themselves. Coins have always been a "boom or bust" market. I'm merely pulling for a deep round of bust... especially on busts.
Not to be morbid or anything, but ya gotta die some day. Your coins will probably come on the market soon afterward, unless there's another collector in your family.
if one collects coins to make money, news like this is distressing, but if one collects coins as a hobby this is good news, indeed. I invest in mutuals and bonds, not something I especially enjoy doing. I collect coins because I enjoy handling history and admiring beauty. For me trying to make money out of numismatics is like trying to make money out of having kids.
Commens market is flat I know dealers who even if the show isn't that great but they sold a comment or two they are happy to have reduced their inventory . It's a buyers market on them for sure....
It's anyone's guess what will happen to the coin market in the next few years. The political turmoil in our country today won't be good if you expect a resurgence in coin values. Since retirees are a big group in numismatics I doubt if they will be spending a lot of money in the coin market given the uncertainty in Social Security and Medicare. In fact, you may see more collections being sold off with a net effect of lower coin values.
Yes there are my son and my daughter. We're not desperate for money so my coins for sale are not distress sales.
I dunno. There are still some people holding coins that they bought between '87 and '89. But for the most part, I agree.