The collectors have been in hiding for the last 1-2 years, most of the transactions these days are going to investors or dealers similar to 2009. Many collectors are licking their wounds from peak prices of 2011 and have been shy to invest more money in high value items.
Most of my business these days is in 1oz gold pandas, with prices down investors have been buying these bigger pieces up as play on higher gold and higher numismatic premiums.
Currently my most disappointing sales are in 1/4oz coins, simply no buyers of that size at the current moment. Which is strange because 1/4 for many years are actually very hard to get and often hard to find when completing a set. It is only a matter of time before someone seizes on this opportunity, unfortunately like the 1/2 the 1/4 are hard to buy in bulk, so one has to do many small transactions.
The second most disappointing sales is proof sets, the prices for these just keep dropping (mostly due to lower gold), only long term investors are buying these and only if they can get 10-20 sets one shot.
