Posted By:
identify7T-Rex: the following excerpt from your original post were the dates that I referenced as questionable.
"In the late '70s a combination of factors caused the coin hobby
values to "crash". Two major ones are:
(1) The economy was suffering.
(2) Most significant were the very high interest rates (20%).
People were putting their $$$$ into bank CDs instead of coins.
After all, the powerful magic of compounded interest with a 20%
bank CD, you could double your investment in just 3.5 years.
So, why buy coins, stamps or any other collectibles.
By about 1980 large coin Shows nationwide were total busts.
The coin values plummented. And, many of those dealers switched ..."
My specific notation regarding these dates are:
The coin hobby did not crash in the late '70s. Due in part, to bullion values, the coin hobby was alive and well but refocused on to this new profit generator.
Very high interest rates (20%) did not occur in the late seventies.
By 1980 neither were coin shows busts, nor did coin values plummet. Bullion prices peaked and rapidly declined. But those who purchased for example double eagles for their bullion value at about $400, found that their numismatic value supported that price as gold bullion value dwindled. Of course, those who purchased bullion related coins at their peak, lost during the decline.
This is my recollection, Ted.