From the May 22 Numismatic News E-Newsletter:
Do you think sales of $100,000+ coins help raise values for all collector coins?
Here are some answers sent from our e-newsletter readers to Editor Dave Harper.
No, I don’t think the sale of $100,000 coins raises the value of “collector coins,” however I believe that it’s good for the hobby when the media covers and reports such monumental sales. It raises awareness of coin collecting in general.
People with a passing interest in coins may drag out grandpa’s coins for another look ? They may also purchase coin periodicals/books to learn more. All a good benefit for our hobby.
I hope it’s raining on somebody’s collection. I’m still in a drought.
Dallas-Fort Worth, Texas
I do not believe that high dollar sales help on low dollar coins, other than the fact they may draw some new collectors into the fold.
No, sales of this size, ranging to the sky, produce trophy coins.
The modern, industrialized world is painfully aware of the wealth created by Wall Street and the financial banking/investment communities’ greed.
Seems that there is only so much that you can do with millions or billions of dollars, so it is natural to obtain something that your competitive multi-millionaire partner/associate/fellow CEO does not have.
I think the sale of $100,000+ coins is not good for the hobby, especially young people. They soon loose interest and quit the hobby when they can’t even find the $10 coin they want.
No, I think that coins that sell in those far flung ranges are so out of reach and out of touch for the average person that the average collector just shrugs their shoulders in disbelief and moves on.
Generally, I believe that we are seeing a depressed collector coin market for average collector coins due to the low spot prices. Although the prices of average collector coins are not directly tied to the precious metal spot prices, the spot prices definitely influence where both collectors and investors are putting their limited dollars.
We have seen for at least the last one to two years or so a significant increase in American silver Eagle sales and other government and private bullion coins, with the average collectible coin sitting in dealer showcases without much of a price reduction. Eventually the cyclical cycle will reverse itself, but no telling when.
Robert S. Matitia