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Posted By: Steve

Made me want to purchase a $20 Double Eagle, but as of now I've resisted the urge.

Sagard
Good idea to resist as Gold is at a 25 year high.

Even before grading of coins a bottom fell out of a rare coin issue.

I think it was a 1904 coin (could be wrong) The story is that for the longest time hardly any one could find the coin in mint state and the price of an example was high. Then one day thousands were found laying in a bank vault. Some dealers found out and bought them all (at face) and the market flooded. This I think happened in the early 60's. The first grading company was called ANACS and it was created by the American Numismatist assoc. PCgs and NGC followed. Q D Bowers also had a company called hallmark that predates the former 2.

When you see an ad that touts coins as the best investment for a period of years it is for SELECTED coins during that period not coins in general.

One of the reasons the card industry boomed in the mid to late 80's was the influx of coin dealer money.


Steve