The Christopher Collection features many CAC coins and has plenty of opinions on the subject but first let’s dispel some misconceptions…
“Where do the numbers take us?” is a phrase often used in finance. Where do they take us today in the world of coins? The laws of economics apply even in our hobby, but are we paying attention? Many say the market will recover, but the numbers tell us otherwise.
I started collecting by buying coins at auction with abandon. I had no concept of coin populations or differences between MS grades. I bought what I liked. I thought any coin I bought for less than the PCGS price guide was a “deal”. It was a expensive introduction to collecting. I bought quantity instead of quality.
Coin collecting combines history, a connection (for many of us) to some wonderful childhood memories and the opportunity to apply multiple disciplines and skills. Introvert, athlete, nerd, super model - all are welcome in coin collecting. A successful collection can be built by bulldozing your way through auctions or spending years patiently looking for the best coin at the best price.
Despite all the auctions each month the coin market is actually very thinly traded which creates all manner of pricing anomalies. As I revisit this post in September 2018 Heritage and Stack’s Bowers realized over $20 million each at the ANA show. How can a market generating such auction results be thinly traded?