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<p>[QUOTE=&quot;GoldFinger1969, post: 4030777, member: 73489&quot;]But we didn&#039;t have the bubbles of the 1970&#039;s and 1980&#039;s in previous decades.&nbsp; The untethering of gold and the international monetary system led to a 20-fold rise in the price of gold and silver.&nbsp; That is unheard of.</p><p><br /></p><p>Bear markets ARE usually shorter than bull markets -- mostly because fear is a stronger emotion than greed (Fear won an armwrestling contest <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie8" alt=":D" unselectable="on" unselectable="on" /> ).&nbsp; It takes time to wring out the emotion that led to the bubble.</p><p><br /></p><p>Ultimately, this is a supply and demand issue wrapped around the price of the metal.&nbsp; Dealers and the hobby can&#039;t control the price of gold or silver, but dealers should be able to give good evidence of demand for coins now relative to 10 or 15 or 20 years ago.&nbsp; If an LCS used to sell 50 Morgans a week for both numismatic and bullion appeal and today only sells 20...well...multiply that by thousands and you explain alot of price weakness.</p><p><br /></p><p>I focus on the macro for coins because I am not an expert on the micro like vets like you, Doug.&nbsp; It would be good to hear honest opions from veteran dealers about supply and demand trends over the years -- and NOT from folks talking their book.[/QUOTE]</p><p><br /></p>

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