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.
Holes in the Coin Market
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?