UNREGULATED STATE OF THE RARE COIN MARKET: The coin market is not subject to some of the forms of governmental regulation applicable to other forms of investment.
In the early 1830's the country enjoyed a wild ride, including intense speculation in Western lands and a fungus-like growth of totally unregulated and frequently shaky private banks.
This era, called the Hard Times, resulted from years of reckless Western land speculation and the growth of unregulated banks issuing a flood of unsecured paper money.
Between 1945 and 1948 145 banks are registered followed by a similar number in the next 4 years. However their growth is unregulated and owing to inexperience, incompetence, nepotism and corruption by 1955 all but 3 indigenous banks have failed.
Not all coin dealers subscribe to industry standard codes of ethics. Find out which qualifications to look for in a coin dealer, and what red flags you should avoid in the mostly unregulated coin dealing profession.
Shopkeepers needed to keep a vigilant eye for inferior wampum and legislation was needed so they would not be required to accept poor quality beads. Further, the amount of wampum produced was unregulated, which eventually caused an oversupply.
 See also: Circulated, Coin, Dollar, Colonial, Trade
  
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