Is the US coin market nearing a peak?

With prices to crash in the near future? Some speculation on the PCGS message
board about this with someone claiming that a number of dealers have invoices
due for recent auctions that haven't been paid yet and high inventory levels.
Shades of 1989 perhaps.

John Stone wrote:
With prices to crash in the near future?

I hope so. I got a lot of coins to buy, and limited fundage.

--
Bob

I know there's been a run-up, esp. on some series. But does it really
compare to 1989, w/ generic MS-65 morgans going for $1,000 (or so I've
heard..). I am curious about what others think. I do have some coins I've
been thinking of selling ... not my favorites of course ...

--K

"John Stone" wrote in message
om...
With prices to crash in the near future? Some speculation on the PCGS
message
board about this with someone claiming that a number of dealers have
invoices
due for recent auctions that haven't been paid yet and high inventory
levels.
Shades of 1989 perhaps.

I know there's been a run-up, esp. on some series. But does it really
compare to 1989, w/ generic MS-65 morgans going for $1,000 (or so I've
heard..). I am curious about what others think. I do have some coins I've
been thinking of selling ... not my favorites of course ...


There is probably a lot more speculation going on in modern
US mint stuff these days than in
1989 and less money going into
generic Morgans.

(JSTONE9352) wrote in message ...
I know there's been a run-up, esp. on some series. But does it really
compare to 1989, w/ generic MS-65 morgans going for $1,000 (or so I've
heard..). I am curious about what others think. I do have some coins I've
been thinking of selling ... not my favorites of course ...


There is probably a lot more speculation going on in modern
US mint stuff these days than in
1989 and less money going into
generic Morgans.

In 1989 and in 2004 you can find ads for Morgans everywhere. There
are articles about how to store, buy, find, tone, clean, and invest in
them. They lead everyone's list of the best buys. In 1989 there was
no such thing as moderns. They were mere pocket change. There was a
small market in Ikes, but almost no one in mainstream numismatics was
aware of it. Today there are large numbers of people who are finding
the advantages of moderns, but they are mostly newer collectors who
spend very little on coins. Most dealers won't stock them. Most of
the time collectors talk about moderns it's only to mention how
over-priced they are. There may be some similarities to '89.

(cladking) wrote in message . com...
(JSTONE9352) wrote in message ...

In 1989 and in 2004 you can find ads for Morgans everywhere. There
are articles about how to store, buy, find, tone, clean, and invest in
them. They lead everyone's list of the best buys. In 1989 there was
no such thing as moderns. They were mere pocket change. There was a
small market in Ikes, but almost no one in mainstream numismatics was
aware of it. Today there are large numbers of people who are finding
the advantages of moderns, but they are mostly newer collectors who
spend very little on coins. Most dealers won't stock them. Most of
the time collectors talk about moderns it's only to mention how
over-priced they are. There may be some similarities to '89.

I think the coin market is at an all-time high and I that
a lot of the hype cannot be separated from coin investment
analysis. Let me tell you a story:

One of the charming things about New England is its
autumn colors. The merchants of New England know that
there are perhaps hundred's of thousands of tourists
that will drive to these Northern states, spend their
money and perhaps spend the night.

One year all the leaves fell off the trees early. Those
leaves that didn't, looked ugly.

My point is that even tho' THAT year of Autumn colors
was called "the twig festival" (by people that knew better),
it didn't stop 1,000 bed and breakfasts from hyping the
wonderful Autumn colors of New England (!)

Moral of the story: Good times or bad, you still have
to feed the merchants who promote their stuff.

Moral of the story: Good times or bad, you still have
to feed the merchants who promote their stuff.


Yes. I have seen many dealer
ads saying "now is the time to buy"
and "this series is underpriced,
buy now!!!". You don't see them
saying "avoid these coins as they
are overpriced" (especially if they
are selling said coins) or "the market is overheated, stop buying
coins for the time being".

(JSTONE9352) wrote in message ...

Moral of the story: Good times or bad, you still have
to feed the merchants who promote their stuff.


Yes. I have seen many dealer
ads saying "now is the time to buy"
and "this series is underpriced,
buy now!!!". You don't see them
saying "avoid these coins as they
are overpriced" (especially if they
are selling said coins) or "the market is overheated, stop buying
coins for the time being".

You have reminded me of something else
that is scary; coin publications won't
sound the alarm either.