Message:

<p>[QUOTE=&quot;GoldFinger1969, post: 2097635, member: 73489&quot;]Agreed, GD, I have actual articles saved which talked about Kidder, Peabody putting $50MM - $150 MM into coins.&nbsp; MS-65 Saints went to a 500% premium to gold, or higher !! <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie101" alt=":woot:" unselectable="on" unselectable="on" /></p><p><br /></p><p><br /></p><p><br /></p><p>GD, I have a link to all the PCGS holders through the mid-2000&#039;s above.</p><p><br /></p><p><br /></p><p>But didn&#039;t prices rise FIRST and any loosening happen towards the end of the bubble or after ?&nbsp; I know we are trying to ascertain an overlap of only a few months but I think what happened was this, based on my recollection and also articles I have from the time:</p><ul> <li>PCGS opened her doors.</li> <li>Grading was pretty tight.</li> <li>Wall Street $$$ rumoured to come in.</li> <li>Prices soar, esp. for gold coins and liquid, MS-65 Saints &amp; Liberty&#039;s.&nbsp; Saints go for 500-800% premium to gold content by mid-1989.</li> <li>As prices soar despite PMs being flat, more and more people submit coins and get into the hobby.</li> <li>PCGS needs to hire many more graders and volumes soar.</li> <li>Standards then loosen until volume and quality of graders can reverse.</li> </ul><p><br /></p><p>I&#039;m not even sure they did get involved, at least not to the extent folks thought they would be.&nbsp; <b>I think it was just the promise of them getting involved. </b> A couple of partnerships involving gold jewelry dealers with connections to Wall Street may have bought a few million $$$ worth of coins each month for a few months.&nbsp; <b><span style="color: #0000ff">A coin firm and Merrill Lynch launched a $25 MM partnership but it was the promise of taking it to $75 MM that juiced investors.&nbsp; The American Rare Coin Fund invested $42 MM in 1989 but was promising another $100 MM in 1990. </span></b>It&#039;s possible the lower initial sums never even got invested but rather led to &#039;front-running&#039; and that drove the figures.&nbsp; Many people talked a good game about how much they had deployed but there was no way to find out.</p><p><br /></p><p>But the huge promises of $$$ from Wall Street firms in 1990 and later never materialized.&nbsp; That&#039;s what crashed the market -- that, and the ridiculous spike from 1988-89.[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in