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Posted 10/25/2012 2:33 pm
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This sounds like to me that one should probably hold on to the extras for the long term.
This sounds like to me that one should probably hold on to the extras for the long term.
Yes. I strongly believe this is true but I've been wrong for a very long time. This time might be different though since there are so many more new collectors and so many fewer of these sets surviving. In the past it would have required a large percentage of collectors (~5%) to start collecting the coins but now a much smaller percentage of a greater number would suffice.
Most coin collectors do not appreciate the just how small the supply is for manyof the components of the sets really is. Sure there are still a million of each of the '68-S denominations but some of these are degraded. But the supply of something like BU '68-P quarters exists almost solely in mint sets and most of these sets are gone. Mint sets had smaller mintages and much higher attrition. The coins are cheap because there's no demand. This will change some day but your guess is as good as mine about when that occurs. It might not happen until the supply of the sets coming to market is too thin even for the very weak demand. When collectors realize that the coins are scarce in nice condition they'll have a new respect for the coins.
An improving economy would put slightly more pressure on demand and a lot of downward pressure on supply. You can think of supply for these as somewhat similar to the way people cash in their change jars when the economy turns sour. With lots of coins flowing into the banks mintages crash. With lots of mint sets flowing into the market, prices crash. When the economy improves there will be fewer 1968 mint sets than ever.
I like holding onto nice specimens especially.
Time don't fly, it bounds and leaps.
