FUN hits speed bump
 

"I really did expect to see weaker prices for coins," said Greg Rohan,
president of Heritage Auctions. "On a scale of 1 to 10, I expected a
6, was afraid of a 4, but I'd say it was (at least a 7 ½ or even) a
solid 8."

Maybe he should crack it out and send in again.

Why do we not hear from all the buyers, large and small, who were
thrilled at the low prices and willing dealers?

We all want the impossible: We want coins (and all the dusty corners
of numismatic collectibles) to be cheap enough for us to buy our fill
but then to rise in price so that we can sell to others at a profit --
or at least to enjoy the feeling of an inventory appreciating in
value.

But this is, at root, a collecting hobby, not fast foods or instant
oil changes. In other words, our markets do not depend on the sales
of consumables. All the coins (banknotes, medals, etc.) in the world
still exist and are being well cared for by numismatists who pursue
them.

With Bernard Madoff in the news, it is a cliche to say "Ponzi scheme"
but that is what it would take, bringing everyone on Earth into
numismatics one new buyer at a time in a century long crescendo of
selling ... and then, in 2019 ... the FUN Show would be a
disappointment.

Mike M.
Michael E. Marotta
"I mean, they did call it _Bear_ Stearns. What would you expect?"

FUN hits speed bump
 

"I really did expect to see weaker prices for coins," said Greg Rohan,
president of Heritage Auctions. "On a scale of 1 to 10, I expected a
6, was afraid of a 4, but I'd say it was (at least a 7 ½ or even) a
solid 8."


I heard that a large number of lots in the Heritage auction did not
sell or went for disappointing prices.

It is not surprising if the president of the company puts a positive
spin on things, saying things did not go
well is not the way to build confidence in people using your company
to sell coins.

FUN hits speed bump
 

"stonej" wrote in message
...
"I really did expect to see weaker prices for coins," said Greg Rohan,
president of Heritage Auctions. "On a scale of 1 to 10, I expected a
6, was afraid of a 4, but I'd say it was (at least a 7 ½ or even) a
solid 8."


I heard that a large number of lots in the Heritage auction did not
sell or went for disappointing prices.

It is not surprising if the president of the company puts a positive
spin on things, saying things did not go
well is not the way to build confidence in people using your company
to sell coins.

For those who prefer facts, Heritage archives their auction results. One has
to register but it's free.

http://www.ha.com/

Steve

FUN hits speed bump
 

In , on
01/18/2009
at 07:28 AM, stonej said:

"I really did expect to see weaker prices for coins," said Greg Rohan,
president of Heritage Auctions. "On a scale of 1 to 10, I expected a 6, was
afraid of a 4, but I'd say it was (at least a 7 ½ or even) a solid 8."

It is not surprising if the president of the company puts a positive spin
on things, saying things did not go
well is not the way to build confidence in people using your company to
sell coins.

That was my thinking when I read the original article.

From my personal perspective, for whatever it's worth, it seemed like every
dealer I approached at FUN was offering to discount the marked prices before
I even glanced at anything. I haven't had that kind of an almost-universal
experience before.

Nick

FUN hits speed bump
 

Nick Knight wrote:
In
,
on 01/18/2009 at 07:28 AM, stonej said:

"I really did expect to see weaker prices for coins," said Greg
Rohan, president of Heritage Auctions. "On a scale of 1 to 10, I
expected a 6, was afraid of a 4, but I'd say it was (at least a 7 ½
or even) a solid 8."

It is not surprising if the president of the company puts a positive
spin on things, saying things did not go
well is not the way to build confidence in people using your company
to sell coins.

That was my thinking when I read the original article.

From my personal perspective, for whatever it's worth, it seemed like
every dealer I approached at FUN was offering to discount the marked
prices before I even glanced at anything. I haven't had that kind of
an almost-universal experience before.

I get regular emails from J.J. Teaparty touting their newps. I just got one
earlier today, in which Gail and Liz fess up to a softer market, along with
a notice that their prices have all been reduced in price. I did check a
couple of them that I remembered from the last time I looked at their
inventory, and they were indeed lower by about 10%.

James