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Posted By: Ted Zanidakis

Barry

I did not say Coin grading started in the '70s. If I recall correctly, you
were into Coins before Cards; do you recall Coin values dropping in the late
'70s ?

Gil

I am not sure where we differ. If you recall, the economy was in trouble
by 1979 with high inflation (near 15%), high unemployment (over 8%), Stock
Market down (Dow Jones under 900), and do not forget those contentious long
gas lines (oil embargo). Jimmy Carter's famous "malaise" speech pretty well
summed up our national situation at that time.

And, you are right, when such conditions prevail investors turn to Gold and
Silver and other rare metals. By, the mid-'80s the economy turned around. And,
we enjoyed lower inflation, lower interest rates, the Dow Jones was up over
2000 and climbing. I remember re-financing my 14% mortgage to a mere 7% in 1986.

Meanwhile, our BB hobby was booming, people were no longer investing their
money into bank CDs (interest rates had dropped to 5 -6%). Instead they were
putting their $$$$ back into collectibles. Coins, Stamps, model Trains, BaseBall
cards were flourishing by 1985 and into the '90s. You could no longer buy
T206's for $10 a common card, or 1952 Topps High #s for $25 a card.