If you had a magic wand...

...what would you change about the rare coin market?

 

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Fantasy land? Lets see... First get rid of youtube. Second, quicker turn around times at the TPGs.

 

I'd get rid of, both, customer-wrapped rolls and machine-wrapped rolls!

Chris

 

Deeper pockets....with money in them!

 

Free scooby snacks with each and every coin!

 

i would encouage people to learn to grade coins and stop being so dependent on slabs and stickers, especially stickers.

 

+1

 

Firing squad or immersion in fire ants colonies for false or misleading coin/precious metal advertisements intended for anyone under 30 or over 55 years.

 

Rare coins? Make em realistically priced. Anyone shelling out five-six figures for any Franklin that ain’t washing dishes and cutting grass should be sent out for forty lashes.

 

To eliminate collector jealousy. It gets old constantly seeing collectors bash people out of jealously that they can afford something they can't, or for liking something different, or because it's modern, or because they don't understand the grading of that series etc

 

I’d make current circulating us coins attractive again. No more dead presidents. Back to miss liberty. And better composition than the current clad

 

I'd have the US government abandon the current fiat currency and return to either the gold or silver standard. BAM!!!

 

I'd make error coins less desirable and set completion more desirable.

 

Sorry, but this is recipe for hard times and poverty. Why should the amount of gold or silver in a county set the money supply? Even in the good days, the gold standard caused more than its share of economic headaches. The Panic of 1893 was driven in part by bad legislation caused a drain on the United States gold reserve.

Furthermore, if you went back to a Gold Stardard, what would be your gold price? Given the size of the global economy it might need to be $500,000 an ounce or more. There simply is not enough gold in the world to re-start the gold standard. The world economy has grown way passed that.

The right monetary policy is to set the money supply at a level that keeps the economy humming. Not too much because that leads to inflation and not too little because that will cause economic recessions and depressions because of a lack of liquidity.

You can I can have debates about mistakes that the Federal Reserve has made. I won’t dispute that fact that it has made things worse at times by making the wrong call. But it’s made the right call most of the time, and that’s why the economy has done, on average, fairly well since the depression of the 1930s.

 

I mentioned a silver standard as an option too. Not just gold.

Having the US dollar as a fiat currency backed by nothing other than a wish and a prayer can only be bad in the long game. As the federal deficit continues to skyrocket and grow virtually geometrically inflation is built in to the equation before taking into account the consumer price index.

As you stated, we can discuss this ad infinitum. It's most likely a lost cause. Future generations are going to be stuck handling this mess.

 

You mean nothing other than the federal government and the strongest military on the planet. But sure somehow silver is supposedly more important

 

The biggest financial problem that future generations will face is the national debt. There we are in agreement.

Fiat currency is not the problem. If you have ever had a macro economics course in college one of the concepts that you should learn is that the "commodity theory of money" is invalid. If the paper money can buy the same or more goods than the precious metal that backs it, few people will redeem their paper. If the precious metal becomes more valuable that the paper, people will rush to redeem the paper, and the system will collapse.

One of example of this ocurred during the Civil War for the Union side. The Union could not re-establish the gold standard for two decades after the war.