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With rising unemployment when will coin market crash?
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<p>[QUOTE="Derek2200, post: 4599475, member: 106755"]I go by the PCGS 3000 index (evaluate trend) and sometimes drill down on certain sub groups like Classic Commems.</p><p><br /></p><p>The market has been in decline for sometime and the graph confirms this. Declining population of collectors, US coins more expensive vs world (a market many flocking to) and of course the covid unemployment black hole, uncertain outlook.</p><p><br /></p><p>In buying / selling coins market decline can mean more coins affordable. However lack of qualified retail buyers with money will aggravate the situation further. While many went bankrupt from the super nova of the 89 crash, the current situation seems more of a slow flame out, dying star (definitely steady decline per graph) and this has been going for sometime (and concur since 2008). One fellow In coin biz I know (sometimes shared tables with) covid related job loss, cc debt default. He did settle 2 of the largest accts for 40c on dollar. Even with covid situation one acct quick to sue. Another acct he is holding out for statute limitations / hope for debtor covid legislation. He cancelled his greysheet subscription (anger over bids going down plus his desire cutting fixed cost expense “current market conditions”).</p><p><br /></p><p>I am involved in the marketplace both shows and online. Shows can be hit or miss and a real bummer if buyers coming in room broke. In that situation I try make lemonade out of lemons - good buying. Online retail for me lately has done well but can be slow during summer doldrums.[/QUOTE]</p><p><br /></p>
[QUOTE="Derek2200, post: 4599475, member: 106755"]I go by the PCGS 3000 index (evaluate trend) and sometimes drill down on certain sub groups like Classic Commems. The market has been in decline for sometime and the graph confirms this. Declining population of collectors, US coins more expensive vs world (a market many flocking to) and of course the covid unemployment black hole, uncertain outlook. In buying / selling coins market decline can mean more coins affordable. However lack of qualified retail buyers with money will aggravate the situation further. While many went bankrupt from the super nova of the 89 crash, the current situation seems more of a slow flame out, dying star (definitely steady decline per graph) and this has been going for sometime (and concur since 2008). One fellow In coin biz I know (sometimes shared tables with) covid related job loss, cc debt default. He did settle 2 of the largest accts for 40c on dollar. Even with covid situation one acct quick to sue. Another acct he is holding out for statute limitations / hope for debtor covid legislation. He cancelled his greysheet subscription (anger over bids going down plus his desire cutting fixed cost expense “current market conditions”). I am involved in the marketplace both shows and online. Shows can be hit or miss and a real bummer if buyers coming in room broke. In that situation I try make lemonade out of lemons - good buying. Online retail for me lately has done well but can be slow during summer doldrums.[/QUOTE]
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With rising unemployment when will coin market crash?
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