Recent Covid Era Price Increases, Has This Happened Before?

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Author	Replies: 15 / Views: 1,294
Low Mintage New Member Canada 13 Posts	Posted 04/15/2022 12:37 pm I haven't been in coins long enough to answer this but in the last 50 yrs or so does anybody remember price increases like we have since over the last couple years? Also did the prices normalize and come back down again? I'm looking for periods when the price increased and then decreased again over time. Regards Report this Post to the Staff

Low Mintage New Member Canada 13 Posts	Posted 04/15/2022 12:40 pm I should have mentioned my post above is in regards to classic US coins specifically. Thanks Report this Post to the Staff
numismatic student Bedrock of the Community United States 11880 Posts	Posted 04/15/2022 1:03 pm Looks like we aren't likely to see the 1982-1989 run-up again in our lifetimes. IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: "It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website:https://fairfaxcoins.com Edited by numismatic student 04/15/2022 1:03 pm Report this Post to the Staff
numismatic student Bedrock of the Community United States 11880 Posts	Posted 04/15/2022 1:08 pm If you look at just key dates and rarities, then the 1994-2008 period was exceptional. We are not yet back to the 2008 levels. IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: "It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website:https://fairfaxcoins.com Report this Post to the Staff
Low Mintage New Member Canada 13 Posts	Posted 04/15/2022 1:09 pm Very cool. So what does the y axis represent exactly? Is it a sum of the database of average coin prices? Thanks for sharing that. I didnt know you could do such things on PCGS. Report this Post to the Staff
numismatic student Bedrock of the Community United States 11880 Posts	Posted 04/15/2022 1:18 pm It is an index of a representative sample of 3000 coins at given grades. https://www.PCGS.com/prices/coin-index/PCGS3000 There are many slices of the 3000 component market index. For example, mint state coins, key dates and rarities, gold, Morgan and Peace dollars, commemmoratives, 20th Century coins, proof gold and silver, each with their own index price series going back to 1970. IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: "It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website:https://fairfaxcoins.com Report this Post to the Staff
Low Mintage New Member Canada 13 Posts	Posted 04/15/2022 1:25 pm I have never seen this before. I thought I knew the PCGS site pretty well. Thanks again Report this Post to the Staff
Spence Moderator United States 34393 Posts	Posted 04/15/2022 4:33 pm That is fascinating data @ns. As I recall, my grandfather ended up selling all his gold coins in the late 1980s and seeing that plot it makes much more sense now. "If you climb a good tree, you get a push." -----Ghanaian proverb "The danger we all now face is distinguishing between what is authentic and what is performed." -----King Adz Report this Post to the Staff
numismatic student Bedrock of the Community United States 11880 Posts	Posted 04/15/2022 5:46 pm I remember the roaring 80s when interest in "investment" coins was sky high but I also remember to 90s when it all crashed and so many coin businesses went under. It was hubris and then the crash. It was first driven by the Hunt brothers' scheme to corner the silver market in 1980. The brothers once owned two thirds of all the silver in the market and were the wealthiest family in the world. Even though their fortune and the price of silver tanked in the early 80's the market for morgans kept rising for the decade when leverage and Wall Street got in on the action. The linked article gives a flavor and maybe brings some memories of this heady time. Many here are likely to remember that time better than I do as I was just a teenager back then. What is happening now is nothing compared to what happened back then, at least so far. https://priceonomics.com/how-the-hu...lver-market/ IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: "It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website:https://fairfaxcoins.com Edited by numismatic student 04/15/2022 5:52 pm Report this Post to the Staff
numismatic student Bedrock of the Community United States 11880 Posts	Posted 04/15/2022 6:03 pm Quote: It is an index of a representative sample of 3000 coins at given grades. https://www.PCGS.com/prices/coin-index/PCGS3000 There are many slices of the 3000 component market index. For example, mint state coins, key dates and rarities, gold, Morgan and Peace dollars, commemmoratives, 20th Century coins, proof gold and silver, each with their own index price series going back to 1970. You may have already seen that if you go to the page linked above (I had to copy and paste the link because it was redirecting me somewhere else) and you go to the middle of the page, there is another link to "PCGS3000® Index List." I wanted to provide the direct link again but it kept redirecting to another page. If you click that link you can see the 3000 component coins in the PCGS3000 Index. It should look like this: IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: "It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website:https://fairfaxcoins.com Report this Post to the Staff
numismatic student Bedrock of the Community United States 11880 Posts	Posted 04/15/2022 6:08 pm @Spence - it looks like grandpa sold at exactly the right time. IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: "It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website:https://fairfaxcoins.com Report this Post to the Staff
numismatic student Bedrock of the Community United States 11880 Posts	Posted 04/15/2022 6:16 pm By the way, the Hunt brothers included Lamar Hunt who owned the Kansas City Chiefs and the NFL's American Football Conference (AFC) Championship trophy is named after him. The scheme to corner the silver market was concocted by his older brother Nelson. IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: "It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website:https://fairfaxcoins.com Edited by numismatic student 04/15/2022 6:17 pm Report this Post to the Staff
thq Pillar of the Community United States 3342 Posts	Posted 04/15/2022 7:50 pm I'm a bet skeptical of the generic gold index based on personal experience. Sorry about the problems with creating a table.... Year_______GGI__________Price* 1996_____22,000__________$200 2021_____27,000__________$1000 Gain_______23%___________400% *Retail price of common date gold eagles What am I missing? Aren't common date gold eagles about as generic as gold gets? Here's a 2015 comment about the PCGS 3000, taken from Collector's Universe, describing the response of another average coin collector: "Browsing the PCGS 3000 index, I question whether these coins really reflect the average collector's holdings and is truly a reflection of the coin market on a whole. These coins are outrageous; type 1 double eagles in MS64, a Liberty cap Half Cent in MS63, a 1793 cent in AU55, proof braided hair Half Cents, a chain cent in MS63, a draped bust cent in MS66 red/brown, a classic head large cent in MS65 red/brown, 1856 Flying Eagle cents, an 1877 Indian cent in MS65 red, and the list goes on. I hope you get the point. These aren't typical collector coins. These coins are equivalent to a brand new car, and is some cases, probably a new house! These aren't common collector coins; these are the coins of multi-millionaires. Where is the common date Seated Liberty quarter in fine condition or the 1826 capped bust half in VG? Where is the common date Morgan dollar in MS63? These are the casual collector coins." "Two minutes ago I would have sold my chances for a tired dime." Fred Astaire Edited by thq 04/15/2022 8:15 pm Report this Post to the Staff
hfjacinto Pillar of the Community United States 7273 Posts	Posted 04/15/2022 8:21 pm My local coin shop told me the last time this happened was in 2008-2010 (which the above charts seem to bear out, he wasn't selling on the 80's). The market (to him) is not accurately priced. He said be selective in what you buy. Buy what's well priced, for those of us that have been buying for a while, use your judgement. I also avoid ebay when I can as prices are higher than greysheet, so again use your judgement. My Slabbed Dansco 7070 with Gold Page My Slabbed IHC Set My Slabbed 20th Century Type Set Report this Post to the Staff
Low Mintage New Member Canada 13 Posts	Posted 04/15/2022 8:30 pm In many markets parabolic moves to the upside usually dont hold in the long run. Will be interesting to see where we are in 2 years time. Report this Post to the Staff
psuman08 Pillar of the Community United States 1747 Posts	Posted 04/28/2022 11:19 am Quote: He said be selective in what you buy. To me this is always the case, be it coins, stocks or whatever. As a teenager in '88-89 I was buying Morgans graded at the time as 60 or 63, maybe a 64 (as that grade was just starting to show up) for $12-$17. Those coins are all 63/64 maybe even a few 65s today. The crazy pricing was for "investment grade" coins that were 65s and higher. Report this Post to the Staff
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