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<p>[QUOTE="Juan Blanco, post: 1676237, member: 41665"]I'm curious about Mark Yaffe. </p><p><br /></p><p>Bear in mind that in 1988, $8,000 bought about 18 ozt Au so $16k was <b>36 ozt of Gold (in 2012 worth @$1669/ozt: ~$60,084.) </b></p><p><b><br /></b></p><p><b></b>In 1989 that Morgan $1 MS-66 1902-S Bid 8 grand and flipped for 16 grand is now worth.... <b>8 grand </b>(maybe LESS!) </p><p><a href="http://rover.ebay.com/rover/1/711-53200-19255-0/1?type=3&campid=5335874456&toolid=10001&mpre=http%3A%2F%2Fwww.ebay.com%2Fitm%2FRare-Bella-1902-S-1-MORGAN-PCGS-MS66-Gem-grade-San-Francisco-Silver-Dollar-coin-%2F221194816069" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://rover.ebay.com/rover/1/711-53200-19255-0/1?type=3&campid=5335874456&toolid=10001&mpre=http%3A%2F%2Fwww.ebay.com%2Fitm%2FRare-Bella-1902-S-1-MORGAN-PCGS-MS66-Gem-grade-San-Francisco-Silver-Dollar-coin-%2F221194816069" rel="nofollow">http://www.ebay.com/itm/Rare-Bella-1902-S-1-MORGAN-PCGS-MS66-Gem-grade-San-Francisco-Silver-Dollar-coin-/221194816069</a></p><p><br /></p><p><b>In Gold, that's a stunning -87% numismatic LOSS on a rare Morgan. </b>So much for the "value" of rare US coins over time, eh?</p><p><br /></p><p>This was from a 1989 interview: <a href="http://www.nationalsilverdollarroundtable.org/?p=1162" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.nationalsilverdollarroundtable.org/?p=1162" rel="nofollow">http://www.nationalsilverdollarroundtable.org/?p=1162</a></p><p>>>BAIR: How do you see institutional money influencing the rare coin market?</p><p>Highfill: It can control us, but we can’t control it. The coin market can be taken away from us – at least we know it now – and the coin dealers will become the dinosaurs. The only people who will survive will be the ones who know the most. Expertise will still be needed, of course, so I can see John Dannreuther of David Hall on a one million dollar a year retainer. There can’t be an actual yuppie market. Do you know what a “yuppie market” is? That’s the idea a lot of beginners have. Give me a population report and an ANE machine and I-are-a-coin-dealer. Many people think it’s that simple.</p><p>Here’s what happens with that kind of thinking. If they don’t know coins and only know the bid prices of coins, they miss the whole market. The rare coin market, anyway. Mark Yaffe bought an MS-66 1902-S Morgan for $14,000 and sold it to another dealer for $16,000. Bid was $8,000. Try to explain that transaction to someone who doesn’t know rare coins. The other 1885-CC dollar and the 1883-O dollar have about the same population in MS-65. Yet, the 1885-CC sells for three times as much. I don’t pay three times as much because I’m stupid. I pay it because 1885-CC dollars sell. 1883-O dollars don’t sell. Popularity of the coin isn’t written into the population reports.</p><p>As I said the ones who know the most will survive. <b>The multi-megabucks are coming, and with it is the $5,000 1881-S dollar in MS-65. <u>By the year 2000, that coin will be $5,000.</u></b> A constant supply and an increase in demand equal UP. It will happen because the whole world will be involved in rare coin investment, and the best bet in that whole world is United States coins.</p><p><<</p><p><br /></p><p>A decade later? Try more like <i>$172</i>. SOLD on via a nearlytransparent & fair mkt you couldn't even imagine back then, something called "eBay".... <b>172 bucks, chief! </b></p><p><b></b><a href="http://rover.ebay.com/rover/1/711-53200-19255-0/1?type=3&campid=5335874456&toolid=10001&mpre=http%3A%2F%2Fwww.ebay.com%2Fitm%2F1881-S-Morgan-Silver-Dollar-PCGS-MS-65-superb-Gem-BU-OGH-SPARKLING-LUSTER-%2F360619232041" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://rover.ebay.com/rover/1/711-53200-19255-0/1?type=3&campid=5335874456&toolid=10001&mpre=http%3A%2F%2Fwww.ebay.com%2Fitm%2F1881-S-Morgan-Silver-Dollar-PCGS-MS-65-superb-Gem-BU-OGH-SPARKLING-LUSTER-%2F360619232041" rel="nofollow">http://www.ebay.com/itm/1881-S-Morgan-Silver-Dollar-PCGS-MS-65-superb-Gem-BU-OGH-SPARKLING-LUSTER-/360619232041</a></p><p><br /></p><p>Factoring 'target GAIN' as anticipated (promised) investment return, <b>that Morgan lost a whoppin' -97% of its value.</b> OUCH! "Rare Morgans" have proven a disastrous investment for those who drank the KoolAid then.</p><p><br /></p><p>Please don't believe coin-hustlers and other numismatic liars.[/QUOTE]</p><p><br /></p>
[QUOTE="Juan Blanco, post: 1676237, member: 41665"]I'm curious about Mark Yaffe. Bear in mind that in 1988, $8,000 bought about 18 ozt Au so $16k was [B]36 ozt of Gold (in 2012 worth @$1669/ozt: ~$60,084.) [/B]In 1989 that Morgan $1 MS-66 1902-S Bid 8 grand and flipped for 16 grand is now worth.... [B]8 grand [/B](maybe LESS!) [URL="http://rover.ebay.com/rover/1/711-53200-19255-0/1?type=3&campid=5335874456&toolid=10001&mpre=http%3A%2F%2Fwww.ebay.com%2Fitm%2FRare-Bella-1902-S-1-MORGAN-PCGS-MS66-Gem-grade-San-Francisco-Silver-Dollar-coin-%2F221194816069"]http://www.ebay.com/itm/Rare-Bella-1902-S-1-MORGAN-PCGS-MS66-Gem-grade-San-Francisco-Silver-Dollar-coin-/221194816069[/URL] [B]In Gold, that's a stunning -87% numismatic LOSS on a rare Morgan. [/B]So much for the "value" of rare US coins over time, eh? This was from a 1989 interview: [URL]http://www.nationalsilverdollarroundtable.org/?p=1162[/URL] >>BAIR: How do you see institutional money influencing the rare coin market? Highfill: It can control us, but we can’t control it. The coin market can be taken away from us – at least we know it now – and the coin dealers will become the dinosaurs. The only people who will survive will be the ones who know the most. Expertise will still be needed, of course, so I can see John Dannreuther of David Hall on a one million dollar a year retainer. There can’t be an actual yuppie market. Do you know what a “yuppie market” is? That’s the idea a lot of beginners have. Give me a population report and an ANE machine and I-are-a-coin-dealer. Many people think it’s that simple. Here’s what happens with that kind of thinking. If they don’t know coins and only know the bid prices of coins, they miss the whole market. The rare coin market, anyway. Mark Yaffe bought an MS-66 1902-S Morgan for $14,000 and sold it to another dealer for $16,000. Bid was $8,000. Try to explain that transaction to someone who doesn’t know rare coins. The other 1885-CC dollar and the 1883-O dollar have about the same population in MS-65. Yet, the 1885-CC sells for three times as much. I don’t pay three times as much because I’m stupid. I pay it because 1885-CC dollars sell. 1883-O dollars don’t sell. Popularity of the coin isn’t written into the population reports. As I said the ones who know the most will survive. [B]The multi-megabucks are coming, and with it is the $5,000 1881-S dollar in MS-65. [U]By the year 2000, that coin will be $5,000.[/U][/B] A constant supply and an increase in demand equal UP. It will happen because the whole world will be involved in rare coin investment, and the best bet in that whole world is United States coins. << A decade later? Try more like [I]$172[/I]. SOLD on via a nearlytransparent & fair mkt you couldn't even imagine back then, something called "eBay".... [B]172 bucks, chief! [/B][URL="http://rover.ebay.com/rover/1/711-53200-19255-0/1?type=3&campid=5335874456&toolid=10001&mpre=http%3A%2F%2Fwww.ebay.com%2Fitm%2F1881-S-Morgan-Silver-Dollar-PCGS-MS-65-superb-Gem-BU-OGH-SPARKLING-LUSTER-%2F360619232041"]http://www.ebay.com/itm/1881-S-Morgan-Silver-Dollar-PCGS-MS-65-superb-Gem-BU-OGH-SPARKLING-LUSTER-/360619232041[/URL] Factoring 'target GAIN' as anticipated (promised) investment return, [B]that Morgan lost a whoppin' -97% of its value.[/B] OUCH! "Rare Morgans" have proven a disastrous investment for those who drank the KoolAid then. Please don't believe coin-hustlers and other numismatic liars.[/QUOTE]
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