FUN hits speed bump

"I really did expect to see weaker prices for coins," said Greg Rohan,
president of Heritage Auctions. "On a scale of 1 to 10, I expected a
6, was afraid of a 4, but I'd say it was (at least a 7 ½ or even) a
solid 8."

Maybe he should crack it out and send in again.

Why do we not hear from all the buyers, large and small, who were
thrilled at the low prices and willing dealers?

We all want the impossible: We want coins (and all the dusty corners
of numismatic collectibles) to be cheap enough for us to buy our fill
but then to rise in price so that we can sell to others at a profit --
or at least to enjoy the feeling of an inventory appreciating in
value.

But this is, at root, a collecting hobby, not fast foods or instant
oil changes. In other words, our markets do not depend on the sales
of consumables. All the coins (banknotes, medals, etc.) in the world
still exist and are being well cared for by numismatists who pursue
them.

With Bernard Madoff in the news, it is a cliche to say "Ponzi scheme"
but that is what it would take, bringing everyone on Earth into
numismatics one new buyer at a time in a century long crescendo of
selling ... and then, in 2019 ... the FUN Show would be a
disappointment.

Mike M.
Michael E. Marotta
"I mean, they did call it _Bear_ Stearns. What would you expect?"