1) We have an older demographic and a number of collectors, including some big-time collectors, have passed away. That has two effects. First, a slew of chips are added to the market, and one more buyer stops buying.

2) Even amongst those who continue to collect and remain passionate about the hobby, many have reduced their collecting areas, instead of expanding their collecting interests. Before the savings and loan mess sent the world into a downward economic spiral and started this current trend in collecting, I could pick up new chips from anywhere and find plenty of interest, especially if it was something unusual (such as foreign chips). Brian C. and I regularly showed out excitement about Aruba chips and suddenly there were many collectors who wanted the new releases. Now, it's just the same 10 or so collectors (if that) who care about Aruba releases. When people reached the point where they weren't finding many chips in their collecting areas anymore, they branched out. Now, they just stop buying until they lose interest. The economy has substantially rebounded, but the hobby hasn't, at least not yet. Is it a lag? Is it a permanent trend or a temporary cycle? Only time will tell.

I still care and many of us do. Collect what you love, not to invest, and you can still enjoy the hobby.

For what it's worth, I only trade with those serious Caribbean collectors unless someone contacts me because they are the only people who are likely to have something I am looking for. I do enjoy trading, but the raise in postal rates have also made trading less enticing.

Just some more thoughts.

Michael Siskin