The effect of the economy on the coin business

dan1ecu

How is the current economy affecting the coin business? I, personally, have pushed back my goals of buying certain coins that I want because I’m being more careful with my money in general. Maybe as unemployment inches higher, fewer people will be comfortable spending money on coins.

On the other hand, more people might be looking for alternative investments and are turning to coins instead of stocks.

What’s your opinion?

Dan

nwcs

Personally, I have spent a bit more during the downturn because the prices have been more reasonable. But I suspect the coin business reflects the general economy.

truthteller

I guarantee you this. If there is war in Iraq, the economy will suffer. I will STOP buying high end coins and keep the money in the bank.

TRUTH

michael

yes the economy will suffer in the short term but unfortunately like lost every other war the economy will race back in the longer term like gangbusters and i think the right coins will do extraordinarly well

the big problem is knowing the "right" coins to buy which is less than 1 percent seen at current shows

sincerely michael

MrKelso

<< <i> yes the economy will suffer in the short term but unfortunately like lost every other war the economy will race back in the longer term like gangbusters and i think the right coins will do extraordinarly well >>



I would like to echo what Mike just said and add that at the current levels Gold is a great place to put some cash. I started buying gold bullion again at the 240 levels. I mixed it up this time with a little
raw bullion from credit suisse bars to gold canadian maple leafs and a couple 1908 no motto's. The stock market is not done correcting yet and won't be for the next 18 months or so. We may see some fools ralleys
along the way but i think the current state of affairs shows us that gold may just go to the 400 level or higher. To many big name companies are in trouble for me to invest in there stock. Buy the best coins you can afford
buy Gold, play with your kids, Hug your wife and be Happy.

Outhaul

Personally, I've always been of the opinion that most of the "right" coins change hands privately or during pre-show trading amongst dealers. Not that I have the wherewithall to delve into them to begin with. Just my humble opinion.

Cheers,

Bob

michael

i think gold is being purposely held down to the 320 level but like water you cant keep it bACK IF IT WANTS TO RISE and no man made thing can do this if gold gets to 330 watch out 400 is easy and the ms 63 64 65 saints are great buiys now and the 63 64 are the best iof the best buys slabbed ngc pcgs

also the right coins do change hands at shows between dealers and rarely get seen by many but if you align yourself with an inside dealer you can work with who also searches the bourse you can get better coins at fiarer prices then all the auctions out there for the most part nothing is 100% but from my expeience in the coin game working with a honest dealer with intergirty and who is extremely knowledgable and a go getter he or she can get you great !! coins those under 1% of the coins oyut there THAT ARE WORTH BUYING and the price doesnot have to be high like say from a few huindred dollars to six figurse or more with the 1000 to 5500 range to 7500 the biggest most popular of these coin prices well lets say 500 to 3500

sijncerely michael

MrKelso

I was just listening to the radio and the business announcer says that gold is up 16 percent for the last 12 months. Very nice

cladking

There is a strong tendency for the coin market to run countercyclically to the
overall economy. Even in the unlikely event of a severe downturn, there is
likely to be a great deal of base building in the hobby as people find they have
more time to pursue an inexpensive hobby. Obviously the hobby is dependent
on the behaviour of the larger markets and if they should stumble because of
war or any other reason there will be some impact.

LucyBop

Lets see, during this economic downturn I have tried to do my part to help the economy. Within the last year I have botten a LapTop, new gun safe, new Dell computer, around 200 cd's, a new 2002 Turbo S to sit next to my 2001 Monte Pace Car, boxes of comics, lots of clothes, go on vacation to Vegas, Phoenix, Portland, California, Mexico, oh yeah, started and have almost completed my Franklin Registry set amongst other things. It really is a drag, can't wait till the economy picks up so I can spend alittle cash. I mean I have completely ignored my Crosley vintage radio collection.

truthteller

Hmmmm? Didn't congress tighten those bankruptcy laws?

TRUTH

agentjim007

Lucy Bop has "botten a Lap Top". I think that is illegal in 47 states.

DCAMFranklin

With things settled in Congress, we can now expect some very significant tort reform. That will have a very significant impact on our economy. Immediate impacts will be felt by every business and those saved dollars can be used to hire new employees and expand operations.

Trial lawyers can begin to look for real work.

ldhair

DCAMFranklin makes a good point. Things are lined up for a great improvement if we can just keep the terrorist off out tail long enough. Right now many are holding on to there bucks. Retail sales are bad news.