We all are governed by emotions even though the very best of us can keep that sort of influence to a minimum in our buying/selling decisions, there will always be some that exhibit irrational behaviour.
There has been a great deal of speculative money sloshing around,which is finding a new home in paper currency, and that has generated short term extremes including the major uptrend that we are currently in. It is normal and part of the cycle. I do not believe that a multi year bull market can end with a couple of years of strength. The people who quote that pricing is getting beyond the hobbiest, and therefore we must be mature in this round,and set the clock back to an earlier stage of the cycle are valuing their own interests ahead of the strong fundamentals that drive the sector. There is no running clock on a market, and no fixed rules on how a sector must and will trade. Those who choose to believe such silliness will get served up.
We are not at the end. We are not even at the end of the beginning. The experts?? :-/ have done a disservice to those who are sellers today but they have handed the best opportunity to the buyers, to accumulate the very best notes so early in this cycle, so cheaply. If graded notes become the norm for higher valued,scarce notes,this is but an opportunity to seize the "bull by the horns"
I for one will not throw in the towel,have temper tantrums of "a grade schooler",walk away from the big bad bully, but rather will embrace the hobby and its future.
What will we say about houses 40 years ago? Have they not increased 1000% and more since the mid sixties? Do we yell, holler, and scream"NO!,That is it.I will not take it anymore! These prices are outrageous,as for me and my family,we will live in a park tent for the foreseeable future". Absurd,yes. Reality,No.You wanna house,a good one,you pay up,or you buy lesser quality.
It amazes me that sound logic is inserted into all other markets except this one when it comes to increasing prices.Speculation is only rampant because of one thing----DEMAND!.With no demand speculative price increases can not sustain itself.From my observations ,demand will continue strong as money seeks other opportunities.
I think the biggest inflow of capital to the paper money collecting is ahead of us. Even the most pathetic, poorly stored notes will become hot , and the truly exceptional graded paper money will climb to valuations that most people cannot believe at this current time. In the years ahead, Graded Paper Money is going to be one of the hot topics that people talk about in hushed tones at cocktail parties, and how they will wish they could have been buyers before grading became the norm.I remenmber when..........
Again,I loathe Graded Paper Money that is slabbed or in sealed holders.But I can not fight money flow,demand,expanding markets,or the speculative nature that comes with all the above.
Of course you can sit this one out....Man oh man,my parents declined a 1968 3 bedroom home in Vancouver,brand new,for a total of $26,000! Reason? Too much money!! Surely the market will come back if we just sit this bull out they thought! HAH! They are renters to this very day,can't go back,either live with change or sit out and watch it pass you bye.That's what Mom and Dad did...
I do not think anyone is suggesting you must buy graded notes because someone else is buying graded notes.Did I miss something? If not,that is a conclusion as far fetched as buying Osbourne/Towers $2.00 for $500 dollars,ungraded. As you ponder the unlikely chance of that,remember the price was indeed $500 for this note just 3 short years ago.My,how times change.If only I had........You are free to sit out what I consider to be an explosion about to take place in Paper Currency from Canada,Graded Rare Unc Notes.
Just fyi-I have not bought a graded note to date, my wife has several.Now where is she...Ive just convinced myself lol!
