Guild Wars 2

http://www.gw2spidy.com/item/19976

Mystic coins. For pretty much the entire games lifespan, mystic coin prices were stagnant from a few copper to 3 silver. Then, around the time HoT launched, the prices skyrocketed. I remember making my first legendary Incinerator about a year ago and the coins were around 8s a piece. Then I made my 2nd legendary, Chuka, about 4 months ago and the coins were around 50s. Now, they’ve spiked to over 80s. This simply goes to show that the supply for the coins is simply not enough. At this rate, by the time Legendary Armors release, I would not be surprised if the coins would be 1.2 gold a piece.

https://forum-en.gw2archive.eu/forum/game/gw2/The-Mystic-Coins-Inbalance/first#post6315388

According to a quote from Chris Cleary on that thread supply is actually greater than demand.

The price jumped up because HoT introduced many more uses for them.

The new legendaries need something like 500 mystic coins each, and they’re also used for guild halls. This lead to a sudden jump in demand (although some of that may have been temporary, for example many guilds have maxed out their hall now, and others are more willing to take their time).

But it may have also encouraged some people to release more for sale. I know before HoT I never considered mystic coins worth selling unless I was literally selling off everything I could to make gold in a short space of time. After I heard about the new sinks I donated about 1/2 the ones I had to my guild and sold most of the rest, I left myself about 50 just in case I did want them. I doubt I’m the only one who did that.

With any of these discussions it’s worth remembering that most of the supply of any item is “invisible” to players because they’re not listed on the TP for sale, they’re sitting in players banks and inventories where only that person and Anet can see them.

When they introduce new sinks for an item I tend to assume it’s because either it’s worth less than they think it should be, or they see a lot simply sitting in banks never being used and they want to change that. It sucks for buyers when it happens, but it’s good for sellers and especially for ‘casual’ players who don’t normally have ways to make a lot of gold but may then find an item they’ve been saving (simply because they’ve never had an opportunity to use it) is now worth a lot.

And in this case one advantage is that if you want mystic coins without paying the TP price it’s just a matter of time. Log in once a day and you’ll get 20 a month.

Ok, apparently I misunderstood. Here’s the quote from Chris Cleary:

Mystic coins
Chris Cleary writes….

Most of this price increase revolves around players that are pushing the value up due to the players willingness to pay more. If players are willing to pay more for an item, it’s going to keep increasing until eventually it hits a ceiling for the commodity. We’ve seen the same thing occur with numerous commodities over time.

Right now there is a consistent supply of mystic coins entering the game (way more than are being consumed) and churning through the trading post at a very slow rate. Most of the coins on the market are ones that have been flipped.

In retrospect, this is actually causing the daily login reward to be worth significantly more to players who wish to convert mystic coins to gold.

So the new sinks are increasing demand, but most of the price hike is actually due to people buying them up in order to make a profit from the increased demand.

Either way though the outcome for most people is the same: If you’re able to wait the price will almost certainly drop again over time.

Alternatively maybe talk to people in your guild/s and see if any of them would be willing to sell coins to you for a lower price? (Note: this will have to be done by mail so there is a risk of being scammed, but I assume you can trust your own guild mates, or use an intermediary.)

I know a lot of people who never use mystic coins and are often quite happy if they can do something useful with them instead of just selling them off when they no longer fit in storage. (When I’m not making legendaries I’m one of them. I’ve recently run out of coins for the first time in 4 years, and even then it’s mostly because I gave away or sold most of them. Didn’t know I’d be making a legendary so soon.)

Danikat.8537:

Ok, apparently I misunderstood. Here’s the quote from Chris Cleary:

Mystic coins
Chris Cleary writes….

Most of this price increase revolves around players that are pushing the value up due to the players willingness to pay more. If players are willing to pay more for an item, it’s going to keep increasing until eventually it hits a ceiling for the commodity. We’ve seen the same thing occur with numerous commodities over time.

Right now there is a consistent supply of mystic coins entering the game (way more than are being consumed) and churning through the trading post at a very slow rate. Most of the coins on the market are ones that have been flipped.

In retrospect, this is actually causing the daily login reward to be worth significantly more to players who wish to convert mystic coins to gold.

So the new sinks are increasing demand, but most of the price hike is actually due to people buying them up in order to make a profit from the increased demand.

Either way though the outcome for most people is the same: If you’re able to wait the price will almost certainly drop again over time.

Alternatively maybe talk to people in your guild/s and see if any of them would be willing to sell coins to you for a lower price? (Note: this will have to be done by mail so there is a risk of being scammed, but I assume you can trust your own guild mates, or use an intermediary.)

I know a lot of people who never use mystic coins and are often quite happy if they can do something useful with them instead of just selling them off when they no longer fit in storage. (When I’m not making legendaries I’m one of them. I’ve recently run out of coins for the first time in 4 years, and even then it’s mostly because I gave away or sold most of them. Didn’t know I’d be making a legendary so soon.)

The price won’t come down anytime soon unless supply is bumped up dramatically. Too profitable right now to place buy orders and wait a week to resell.

sephiroth.4217:

The price won’t come down anytime soon unless supply is bumped up dramatically. Too profitable right now to place buy orders and wait a week to resell.

That doesn’t appear to be true: when the current events first started, the price dropped dramatically, even though there was little change to the supply — people feared a change to the supply and hoarders were willing to sell much more cheaply.

Right now, regardless of any faucets or sinks, buyers are willing to spend much more on the coins. As long as that remains true, the prices will continue to rise.

Put another way: buyers are much more impatient right now than sellers. However, sellers are still impatient: any small change could set off another set of panic selling.

Illconceived Was Na.9781:

sephiroth.4217:

The price won’t come down anytime soon unless supply is bumped up dramatically. Too profitable right now to place buy orders and wait a week to resell.

That doesn’t appear to be true: when the current events first started, the price dropped dramatically, even though there was little change to the supply — people feared a change to the supply and hoarders were willing to sell much more cheaply.

Right now, regardless of any faucets or sinks, buyers are willing to spend much more on the coins. As long as that remains true, the prices will continue to rise.

Put another way: buyers are much more impatient right now than sellers. However, sellers are still impatient: any small change could set off another set of panic selling.

I don’t understand why you say not true, then proceed to agree with what I said?

sephiroth.4217:

Illconceived Was Na.9781:

sephiroth.4217:

The price won’t come down anytime soon unless supply is bumped up dramatically. Too profitable right now to place buy orders and wait a week to resell.

That doesn’t appear to be true: when the current events first started, the price dropped dramatically, even though there was little change to the supply — people feared a change to the supply and hoarders were willing to sell much more cheaply.

Right now, regardless of any faucets or sinks, buyers are willing to spend much more on the coins. As long as that remains true, the prices will continue to rise.

Put another way: buyers are much more impatient right now than sellers. However, sellers are still impatient: any small change could set off another set of panic selling.

I don’t understand why you say not true, then proceed to agree with what I said?

You said: “The price won’t come down anytime soon unless supply is bumped up dramatically.”

I said: It seems to be more about patience rather than actual supply. When there was an event that barely touched the supply, people sold at much lower prices.

Shovel Face.4512:

Someone explain this to me

http://dictionary.cambridge.org/dictionary/english/cartel

Illconceived Was Na.9781:

sephiroth.4217:

Illconceived Was Na.9781:

sephiroth.4217:

The price won’t come down anytime soon unless supply is bumped up dramatically. Too profitable right now to place buy orders and wait a week to resell.

That doesn’t appear to be true: when the current events first started, the price dropped dramatically, even though there was little change to the supply — people feared a change to the supply and hoarders were willing to sell much more cheaply.

Right now, regardless of any faucets or sinks, buyers are willing to spend much more on the coins. As long as that remains true, the prices will continue to rise.

Put another way: buyers are much more impatient right now than sellers. However, sellers are still impatient: any small change could set off another set of panic selling.

I don’t understand why you say not true, then proceed to agree with what I said?

You said: “The price won’t come down anytime soon unless supply is bumped up dramatically.”

I said: It seems to be more about patience rather than actual supply. When there was an event that barely touched the supply, people sold at much lower prices.

I also said “Too profitable right now to place buy orders and wait a week to resell.”…

*was lol

“Right now there is a consistent supply of mystic coins entering the game (way more than are being consumed) and churning through the trading post at a very slow rate. Most of the coins on the market are ones that have been flipped.”

What’s funny about the statement from Chris is that this is the exact thing Anet was saying couldn’t happen because there were too many people playing the game. And yet, time and time again, we see a handful players artificially inflating the price of something, sometimes by several factors.

There were several points of time where the price of mystic coins changed. The first was Dec 10, 2014 which accompanied a drop of supply from 356K down to 191K in a day. It recovered slightly until HoT was announced at PAX South. The price spiked everytime the TP supply hit a new all time low, followed by a recovery, followed by another draw down to a new low.

Actually the launch of HoT didn’t spike the price but actually went down for a few weeks after launch from 12s to 10s. As the price climbed people bought down the supply and hoarded any they got from the dailies/login rewards. Saving them in case they ever needed them. Now with TP supply at only 25-28K, it’s a sellers market. With the price now over 80s, the hoarding urge is even greater. It also looks as if at least 15K are sold everyday at those prices.

He may be correct but for most people I doubt it’s from any malice or wanting to work the system. Me for example. I’ve been getting Mystic Coins through the daily thing for awhile and I just stash ‘em. I never really knew what they were for I just know they went into my material stash so that’s where they went… and stayed. I’m most likely not the only one who doesn’t really give them a thought and just stashes them away.

Ive got a huge number of mystic coins in the bank, which Ive been slowly collecting over the years Ive been playing, and as I dont know what they were for, Ive simply held on to them until I find out.
I suspect theres lots of players like me who find things in the game , dont know what they are for, but hang on to them in case they are needed later.

I looked yesterday and I have over 1300 mystic coins. Figured someday they could be useful.