Sanity Check

Discussion in 'Coin Chat' started by Gregg, May 6, 2021.

  1. Dynoking

    Dynoking Well-Known Member

    What grade did Ed Wood give it?
     
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  3. CoinCorgi

    CoinCorgi Tell your dog I said hi!

    Pet rocks?
     
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  4. Mr.Q

    Mr.Q Well-Known Member

    Welcome back to "The Real World." Yes, coin and currency prices have sky rocketed.
     
  5. Mac McDonald

    Mac McDonald Well-Known Member

    So, translate, please: Does this "hot" mean that one selling should NOT expect to get good auction prices for nice coins right now (not like the one exampled on eBay, but much better)...or they WILL likely will see buyers with good prices...? Thx.
     
  6. norantyki

    norantyki CoinMuncher

    @Mac McDonald better material through the major auction houses regularly exceeds all expectations - whether or not it is a good time to sell depends on how you see the coin market / currencies / the economy going. What is certain is that historically unprecedented sums are regularly being paid for premium coins.
     
  7. Gregg

    Gregg Monster Toning

    Hot means that it is a sellers market.
    That is, you can sell a coin for more than it is probably worth.
     
  8. 1865King

    1865King Well-Known Member

    Inflation has kicked in. This is what happens when you keep printing money with nothing backing it up. You know it's bad when you go into Home Depot and they are asking $53.00 for a sheet of 1/2 plywood or in a grocery store and they are selling a common orange at $1.25 each. I've seen the same thing with coins. Just look at what the mint is charging for the silver proof set this year $105.00. 2021 silver eagles are going for $45 to $48. I don't think the prices have gone up as much because of market demand but, more likely because the value of the dollar has dropped.

    As far as coins are concerned it seems like its effecting lower value collector coins more than the high value coins.
     
  9. MIGuy

    MIGuy Supporter! Supporter

    High prices on some commodities =/= inflation. Inflation is currently at 1.25% - we'd probably be a lot healthier economically at a 3-5% range. Inflation is bad for folks who own stocks, real estate and such, but great for regular working people generally. Wages for most Americans have been flat for over 40 years now, but the stock market has, overall, done really well. I don't know why there is this broad misplaced fear / misunderstanding of inflation. I did meet Paul Volcker once, lol, he was not very polite - but dang that guy could put away the shrimp cocktail. https://www.statista.com/statistics/244983/projected-inflation-rate-in-the-united-states/
     
  10. norantyki

    norantyki CoinMuncher

    @MIGuy - I am trained at the university level in the history of economics (among other things) I am sorry, you do not understand inflation or its implications. You can basically reverse what you have just written to get a more accurate depiction of the impacts of inflation - which, by the way, paired with healthy growth and in moderation is a good thing that keeps the whole system turning over.

    Also, I have no clue where your 1.25% figure comes from, unless that 'basket' is chock a block full of flat screen TVs and cars. Real inflation in most 'Western' countries is running around 4-4.5% these days, which, paired with a COVID hampered economy, is definitely way too high. This without mentioning the fact that the giant print runs of FIAT currency have yet to really be felt (typical lag is 6mo-1yr)
     
  11. MIGuy

    MIGuy Supporter! Supporter

    I'm a retired professor of economics at Yale (FYI, internet claims to authority are worth exactly nothing) and if you don't have a clue where the figure comes from you should click the link or use Google to find the answer (the same answer btw - 1.25% is approximately consensus). I know, a lot of folks are afraid of inflation and don't understand it very well, I get it, and I love the concerns about "FIAT currency" [adds several exclamation points]. I am feeling pretty secure in my understanding of inflation, you should do some research on the subject that doesn't involve YouTube videos or Facebook posts. I'm sorry if that sounds dismissive, and I really don't mean to be, but you seem to have a deep fundamental misunderstanding of "Real inflation in most "Western' countries...." and honestly, I hate to see that.
     
  12. ddddd

    ddddd Member

    Damaged pocket change? :p
    ...checks eBay/etsy....nope it is still being advertised for $1 million....:eek:


    I venture into all sorts of coins, and it is hard to find much that is tanking. There are occasional auctions that slip by (bad timing, poor photos, etc) if you search several different places. I have not checked all, but non-silver US proof and mint sets are one area that does not seem to have any meaningful increase (that is often a sector where supply outpaces demand). World coins can still offer opportunities too (though not Crowns or larger silver as those have heated up too).
     
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  13. norantyki

    norantyki CoinMuncher

    @MIGuy - so you are making the claim that underlying assets without a currency peg (usually held by the more affluent) are less damaged than cash savings or those that pay bank-rate interest (usually held by less advantaged persons) - that is absolutely absurd. You are also claiming that unpegged (to FIAT currency) assets are less receptive to inflation in an underlying currency than the currency itself.

    If you were truly a professor at Yale, I can see why they let you go - I am sorry, your claims are complete bollocks, and I call BS. It is shameful that such a disregard for logic should be presented as fact.
     
  14. MIGuy

    MIGuy Supporter! Supporter

    Lol, sigh, okey dokey, so Facebook / YouTube true believer. You don't trust real sources for facts. Got it, thanks.
     
  15. norantyki

    norantyki CoinMuncher

    @MIGuy Ok, so explain to me in your dream world how inflation benefits those with cash savings and bonds - please, the floor is open.

    By the by, I use youtube for listening to music, and facebook for selling coins, pretty much nothing else - I read, follow govt outputs, and look to historic example... I really hope you are a troll, because you clearly are not a professor (judging by how you speak / write).
     
  16. MIGuy

    MIGuy Supporter! Supporter

    Very happy to oblige - https://www.economicshelp.org/blog/315/inflation/inflation-advantages-and-disadvantages/ Have a nice day!
     
  17. norantyki

    norantyki CoinMuncher

    @MIGuy That link just proves my point (especially the spending power grafic) - if you actually read it - please, show me a quote that contradicts me. Also the fact that you are linking to that site indicates to me that you have little grounding in economics - this is what finance bros occasionally use in their BS drunk and cocaine fueled arguments - this is not academic fact (don't ask me how I know).
     
    Last edited: May 7, 2021
  18. MIGuy

    MIGuy Supporter! Supporter

    Sigh, sure champ, have a nice day, but up will never be down. Facts matter.
     
  19. norantyki

    norantyki CoinMuncher

    BWAHAHAHAHAHAHA, also just checked your 1.25%, and that is taken from the headline of google search - not fact. Jesus, @MIGuy you really don't create very deep profiles. This is a projection, and not a reality. It would seem that the facts are against you.
     
    Last edited: May 7, 2021
  20. MIGuy

    MIGuy Supporter! Supporter

    Do you have any cites? Do you know what cites are? How about this - I'll give you 1.8% https://www.clevelandfed.org/en/our-research/indicators-and-data/median-pce-inflation.aspx I'm loathe to bother to explain averages and the difference between monthly, annual and forward looking projections. So yeah. 1.25%. You seem to think that's a headline of a Google search. Wow. Maybe it is, but you might want to read the material that comes up with regard to same, if you're interested in understanding inflation that is.
     
  21. norantyki

    norantyki CoinMuncher

    Aight, Im done with you... you have clearly demonstrated my point for me. All I can say is that you are clearly not an economist, and certainly are not involved with the education system (or at least I hope you aren't, or the the USA is farther gone that we all thought).
     
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