minelabex1000 said:
Leon said:
Anyone know who sets the standerd when it comes to coins prices?
The buyer.
That's correct!
The buyer because, buyers drive the price either up or down based on demand of any given coin/s at any given time. This is effected by many different factors including, the economy, interest rates, gold & silver prices, the stock market, interest in coins by the population at the time, supply of coins, etc. etc. etc.
Common coins (i.e.) common dates, mints, etc. almost never jump in leaps and bounds as do the rare date & mint coins, key dates, etc.
If you want to be a coin collector, put your money in the keys, and tough date/mint coins (otherwise) you're just throwing your money away basically.
Example,
when you go to a coin shop and buy 10 mercury dimes at $1 each, and do it 10 times a year, you've spent $100 in that year-- now go back and re-sell to the coin shop - they will give you fifty cents each (if you're lucky) and you have now lost $50 in a yr.
Buy a "Key date" 1916-d Mercury dime at $450 today and take it back a yr later, you'll get your money back + some, hold it for 5 yrs, and you'll more than likely 2xs your money or maybe more!