So here's a good read on how two bad apples can ruin a love of collectables- silver/silver coins

So I 'll shorten the story a little began collecting coins on/off 50+ years. Had 3 trade dollar proofs and my Dad had 3 we bought a 1877 to fill 1887-1883 proofs and when Hunt's were trying to corner silver in 1979 sent to Christies and had graded they bought $9000. each worth now maybe $3000. we were in at $750 each. They ended losing billions article and good read attached. https://priceonomics.com/how-the-hunt-brothers-cornered-the-silver-market/
Now retired spend 1 SS /pension check a year buying Am. Eagle proofs/proofs set and filling 90% complete books of Lincolns, Rosie's and Quarter book for grandson and loving it and this site!
Motto of this story: Pigs get fat/ hogs get slaughter and a couple of bad apples ruin a pie Thanks all.

 

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Interesting times in the U.S. back then... the end of the gold standard, the oil embargo, runaway inflation, and the Hunt brothers buying all the silver they could get.

I was a poor college student and not part of the financial landscape so it mostly went over my head .. but it sounds like you made a bit of money on your coins, no?

 

I must be missing something. I really don't see a relationship between Hunt running silver up to $50 an ounce and its subsequent crash and the price of proof trade dollars.

 

With the exception of rare and unique coins I don't have anything to worry about collecting raw higher mid-grade circulated. Slabbed primarily for authenticity prior to cracking them. Even so, I like your analogy on the former market as it relates to the current. These sort are not collectors, they are investors. It's deja vu only with toned moderns, special plastic and fancy stikers.

 

The Hunt brothers activities in 1980 was the cause of me stopping coin collecting and returning to stamps.
By 1990 I had gotten my stamp collection pretty much where I wanted it and started looking at coins again.
Shortly thereafter is when I decided that I wanted to do a type set.
I sold the important parts of my stamp collection and was able to buy a 1907 High Relief St. Gaudens in AU-50.
Since then I've been steadily filling in my type set (almost done) and have branched out into other areas (my FE/IHC set is complete).

So I have the Hunt brothers to thank for causing me to get focused even though it was a bummer for a while.