The Collapse Of The 2001-S Sacagawea / Coinweek

I read just enough of this link to "get it."
Given a coin with 100,000 pieces minted
20,000 pieces minted ... or just 5,000.
If ALL of these are held and preserved by the owners, then eventually
100,000, 20,000 or 5,000 buyers must be found in the future.
(These modern coins are held.)
SO ...
Why do people still believe that any "get rich quick" quick plan is going to work?
In a word, GREED!
Those of us who know better will not take the bait.
Those of us who NEED to learn this will not even bother to read and to learn.
I do not feel bad at all about these folks who get burnt.
Maybe then they will listen to the good advice that you provide
after they have made a few, COSTLY mistakes.

(cc99999,
I got off your specific topic to make to more general,
but the principal is the same.
Forgive me my transgression.)

Nice story CC, thanks for sharing. I always wondered why that 2001-S proof was so high when so many years after are lower mintages.

I bought one of these when they were released (not at an inflated price) and now realize I should have sold about 4 years back. Always wondered why the price was so high for this coin in particular. Can't tell for sure on lots of these moderns. Never even knew that some PF70's were selling for over a 1000. Yikes!

I can't help but believe that many of those buyers of the '01-S might not have bought or timed their purchase better if they had just gone out anmd looked at a couple dozen '01 proof sets.

3,000,000 can't be considered a scarce date in this day and age when moderns are a small niche market.

Exhibit C 1973-S brown Ike, issued at $10 lowest mintage Ike it rose to over $150 then fell back down and I bought mine for $15.

Exhibit D 1995 proof set (the regular clad set) issued at $12.50 this set too rose to over $150 at set and held a value of over $100 for ten years. Last night we gave one away as a door prize at the local coin club that the club bought from a dealer for under $10.

Example E 1999-S silver proof set. Price initially jumped and got up to over $300. Now it's a little over $100 and falling.



I've seen things like this happen again and again and again during my years as a collector and I have learned that it typically ten years or so for these items that have a sudden huge price jump right after they are issued to settle down to their long term price level. And in most cases they are unable to support those initial high prices. The next one I'm watching is the 2001 buffalo dollars. It seems to me that their mintages are way too high to support the prices they have been bringing for the past decade. Over the next few years I think we will see if they can support their prices or they will start dropping.

Exhibit G; A 1991 Russian mint set that was worth $4 a couple years back is now $2875.

Exhibit H; A 1954 Indian proof set went from $15 to $2800 in five years.

Exhibit I; My 1976 type I Ike that I paid a whopping $1.50 for would now go for north of $10,000.

The bottom line is if you buy popular coins you'll likely get burnt whether they were minted before 1965 or after. If you buy good quality scarce coins at the right price you might make a large profit no matter how old the coins are.