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<p>[QUOTE=&quot;cladking, post: 1402835, member: 68&quot;]There were two major blowoffs with the first being in &#039;80 and the second in &#039;89/ &#039;90. Prices were very strong in &#039;86 but retreated slightly before getting extremely strong.&nbsp; </p><p><br /></p><p>The &#039;90 catastrophy hit prices of high grade common coins extremely hard.&nbsp; Most of the damage was in Morgans but it also killed other 2oth century silver obsolete types in high grade (especially late date walkers).&nbsp; Some of this damage isn&#039;t nearly as extreme as the price guides indicate because of changes in grading standards.&nbsp; &quot;Real&quot; collectors didn&#039;t bear the brunt of the drops but is was investors who mostly lost around 70% of their money.&nbsp; Almost all gems were graded as MS-65&#039;s up to &#039;90 so nice hand selected coins were often MS-67 or MS-66 by today&#039;s standards.&nbsp; Investors got stuck with whatever was available after collectors had purchased what they needed for their collections.&nbsp; This is the way it always works.&nbsp; The rules and conditions change but the results are the same; investors lose in collectibles almost without exception.&nbsp; </p><p><br /></p><p>By &#039;95 the hobby was a total shambles.&nbsp; Almost nothing was getting sold at any price other than top end coins and even these didn&#039;t always bring great prices.&nbsp; Nice key dates were salable as well.&nbsp; The modern market began its recovery first in 1996 with the announcement of states coins and the classics recovered in &#039;97 and went gang busters with the actualintroduction of states coins in &#039;98/ &#039;99.&nbsp; Millions of baby boomers returned to coin collecting and were seeking the coins they couldn&#039;t afford as children.&nbsp; They had been chased out of the hobby by clads and their opinion of clad had not changed over the decades in most instances.[/QUOTE]</p><p><br /></p>

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