2019 is here, and we have reasonably good expectations for the coin market this year. Although there is talk about softness in the coin market (and we agree there is), it is still a good market. Collectors are collecting, and dealers are dealing, and as long as prices are in line with the current market coins are selling well and buyers are not hard to find. Some prices are actually higher than they used to be, while others are lower. Good error coins are always in demand, and our customer’s want lists take a lot of work to fill because there frankly is not a lot of error material on the market. Yes, there are some good coins coming on from time to time, but there haven’t been any major influxes in errors, just pockets of coins here and there for the most part.
The reality is, the error coin market is full of affordable although often rare coins. Many error coins that are deemed “common” may only have 100-200 examples known. Rare examples of error coins, which can be had for say $500 may only have less than a dozen examples known. That is an extraordinary level of rarity for the price.
Supply and demand in the error hobby generally results in the supply quickly and easily absorbed by demand. Of course, this can also mean that if only a few collectors leave the hobby, a certain segment of the hobby and drop in price quickly. However, this is always remedied fairly quickly as new collectors enter the hobby (and we do see new collectors coming into the hobby, and/or current collectors changing focus and collecting a new series.)
As an example, a year or so ago we sold a huge collection of state quarters (one of the largest ever assembled), which although most were easily absorbed by the market, there was a “over supply” for a time in the market, and prices dropped. Now that is completely reversed, and all supply is gone, and prices have returned to “normal levels.” We can’t find replacement coins because state quarter major errors are generally rare. Take advantage of opportunities in the error market of “oversupply”, because they tend to be short-lived!
We are very much looking forward to 2019, as the error market is generally good, and there are still fresh errors coming onto the market, albeit at a slower pace than we would like as dealers in errors (good errors are hard to find!).