What would you do if all US coin values tripled overnight?

MrEureka

All other things being equal, what would you do if (for no reason whatsover) all US coin values tripled overnight? Assume that you know that prices will remain at the new levels for the next year.

Would you sell your collection?

Would you stop buying?

Would you collect something else?

Would you feel richer? Poorer?

Bikingnut

Sell some of my extra's. The rest I would keep.

LucyBop

for that type of return, if I had a buyer, I think I would get out...

Wisconsin

I think I would regretfully have to say sell. I would patiently wait for prices to come back and buy three time the coins I once had.

coinman2182

I would be a rich man because I would sell all my US coins. Than I guess I would have to watch the foriegn coin market.....but than again hypothetically speaking what if the Foriegn Coins dropped down to nothing and than for people like me who have large amounts of both foriegn and american coins we would be up a creek without a paddle.

Jacob

CarlWohlforth

A triple overnight? I would have to sell. Oh, I probably would keep some coins, but I'd have to sell the majority of them. I'm afraid the stock market bubble left a permanent change on my buying/selling habits. After all you can't go broke by making a profit.

NumisEd

I would sell my entire collection and then I would be worth HUNDREDS of DOLLARS!!! I could supersize my lunch, have my shoes shined (I have always wanted to do that) and maybe, just maybe, I could go to the movies AND have pop corn and a pop.

joejeweler

I'd have to agree with Lucy on that one.......the practical side of me would take over! I'd sell the majority of my coins and put some dough into less inflated areas.....such as vintage watches and especially my favorites......18K Omega Constellations from the 1960's running the Cal. 505, Cal. 561, and Cal.564 automatic movements. These are great watches at very reasonable prices currently. 24 jewel chronometer rated with a great looking movement........i just love the look of the "goose neck" regulater on these!

However.....after the next year (where Andy mentions prices would remain about the same).....i would be looking for the type of collapse of 1980 in prices and start buying again.

There are just a few i might hang onto regardless. My 1877 MS64RB Indian would be one of those......as i know i could never replace the super look of that coin in that "grade"......let alone a MS66RB. PCGS messed this one up for sure, and i'm saying that with my wallet even when i would be staring at a 10K plus profit according to Andy's scenario. These in any high grade are just going to be SO hard to replace in years to come......add in super eye appeal and it's a no brainer. (now if i'm homeless and need to eat.........i might be pursuaded to sell! () (<-----notice the huge hoop earrings so popular today?)

The 1915 PF68 Barber half i'm on the fence about........that'll represent a whole lot of dough to a guy like me! Nice down payment on a house for sure......

hughesm1

I would sell nearly my entire collection, but there are a few pieces with exceptional eye appeal that I know would take a long time to replace; it's those few I would keep.

baccaruda

I think I would regretfully have to say sell. I would patiently wait for prices to come back and buy three time the coins I once had.

Wisconsin, you took my answer. Sell em all and buy 3 times as many when they're back to normal.

jbsteven

Andy:

What would YOU do?

I would sell with a big fat smile on my face.

when values came down I would buy again.

CharlieB

I would sell everything in a New York minute, even the ones I am
emotionally attached to today and would not look back. In due time I
I would probably start collecting again. The second time around
I am reasonably certain I would not focus on 20th century coins but
instead take a fresh new look at 19th century coins.

If Reed Hawn could do it, I can too.

onlyroosies

If prices triple over night and we're all selling... Whos buying???

originalisbest

I would have to concede, and sell the majority - but I still would keep a small number that I'm emotionally connected to. Perhaps 5 or 6 pieces.

kranky

I'd probably sell the junky junk (not the good junk ) and keep the nice coins. I would probably quit buying, though.

barberlover

That is tough because 3 x money is not moon money, but it is enough so that anything sold already worth thousands could probably [for me] never be replaced.

I think i'd sell everything except my best 2 or 3 pieces and at 3 x money, pay off the house, but just like i did for 10 years after 89, i wouldn't buy any more coins at those levels. Les

{P.S.}
The way things are going right now with the flood of new collectors and some of my generation returning to the hobby both happening at the same time this is a realistic possibility.

coinlieutenant

You know, I really dont know, but if it happened this morning I would probably sell. My wife and I live in an area where a 1000 square foot house costs a cool half million. Needless to say, it is going to take us a long time to save for a down payment of twenty percent (dont want to pay PMI) so if we want to live here for good, it is going to take some money and the collection could be that vessel.


However, even if the market was up 3 times tomorrow, I dont know if I would ever sell at market level. I might want moon money over that 3 times level to part with my coins.

Coulport

Tripled?

I'd be elated if silver went to $5.50.


But yea, I would be an even stronger seller.

1956Quarter

SELL!! Then stop buying/collecting coins.

nwcs

Sell many of my coins. Hold on to the ones I want. Not buy any more.

BAJJERFAN

doubled? sell sell
tripled? sell sell sell
quadrupled? you get the pic

ohbaby

Interesting responses as so many times I hear "I'm collecting for the grandkids" or "In it for the long haul" or "These coins are in strong hands".

Everyone has their price. Everyone.

MrEureka

If I collected US coins and they tripled, AND if I didn't think that the market was going to go back down, I probably wouldn't sell many coins. From my perspective, if I'm a seller at triple, I'm probably collecting the wrong coins today.

For example, if I collected US coins, I might collect the following things, and all would be worth owning at triple:

Colonials: New Jerseys, Vermonts and Massachusetts Silver

Patterns: True experimental pieces like the 1896 cents and nickels

Hard Times tokens

1866 Shield nickels by die variety and die state (Yes, I'm serious.)


I do collect world coins. I'd sell very few of them if they tripled.

boiler78

I would retire!

topstuf

Nay, say I! To SELL a coin is tantamount to TREASON. A slap in the face of our great hobby!

Call my stockbroker! Say :Nyaaah nyaaah nyaaah. Lord it over the neighbors. Call my damn brother-in-law. Start STRUTTING!

Then SELL! To the Chinese who have just used the money we send em boatloads of for gizmos to buy the country.



Actually I ....DID .....that in the eighties. Buyin back a lil now.

Askari

I would build an Ark over on the Dark Side in anticipation of the inevitable Deluge.

michael

sell

baccaruda

Askari,

I'd probably sell out all of my U.S. coins and start on the Dark Side myself. I'm becoming a convert. I'm learning that foreign issues just plain beat the pants off of ours for beauty.

1jester

I don't have many US coins anymore (except for hundreds and hundreds of error coins, which I'd sell). If I had many US coins, I'd sell virtually all of them. I'd not sell the Darkside coins at that point, because you haven't said anything about their price gains. If they went up 3 times, I'd still not sell, because I'd figure they'll go up much more.

DennisH

I'd sell everything in a heartbeat, pay off the house, send the kid to a better college, and still be debt-free.

I enjoy my coins to no end, but I also have a VERY clear financial perspective about them.

-- Dennis

zenny

<< <i> if I'm a seller at triple, I'm probably collecting the wrong coins today.

>>




so what would be the magic multiple for you?



and yes, i'd sell out so quick my head would be spinning.


z

Conder101

It probably wouldn't change me much at all. I'd probably stop buying US, but I've purchased almost no US for over three years now. I'd concentrate more heavily on my Conders. The real problem would be that it might chase me out of the slab reference set as well since they would go up as well. Or since I don't care too much if I over pay for those pieces it might not matter there either.

Sell?? Why, they aren't eating anything and if I did sell then I wouldn't have them. Nope, I want my coins not the money.

ANACONDA2

SELL!

Nysoto

This is actually happening with flowing hair half dollars, just like the ED's the last few years. Not triple, but some have doubled in value, like the 1795 PGCS VF25 that just realized $5750 at Heritage, two years ago would have sold for $2500. I still collect these, not as an investment, but because I am fascinated with early half dollars. I will now just buy fewer coins, probably at lower grades.

Bear

If everyone who owns coins is going to sell,

who is going to buy the available avalanche of coins.

Increased supply , decreased demand equals lower prices.

This is a hypothetical question that is impractical, improbable

and impossible. The only way this could happen would be in the case

of hyperinflation which would rapidly devalue money and inflate

the price of hard assets in a zero sum game.

CLASSICS

take a very long vacation in the south pacific, where the waters are deep blue, the warm winds blow, and hoola girls feed me grapes, and dance before me...while playing beautiful music........

MrEureka

so what would be the magic multiple for you?

Depending on the coins, some as low 3X, most around 5X, and some around 10X.

Higashiyama

I would pare back my collection, aggressively selling duplicates. But I would not sell any of my "core" collection.

ursabear

I would sell, wait for the inevitable price decline and rebuild.

cladking

Most moves in collectibles prices appear to occur very suddenly. This is not
usually what is actually the case. Pressure builds on prices for years before
there is a responce in the price guides and to the uninitiated the prices appear
to have exploded. In actuality what happens is that coins bring increasing
percentages of bid and eventually increasing premiums to ask. Then when the
price guides begin upping the retail prices to reflect this, it will look like prices
soared.

Coin world listed an '83-P quarter in MS-65 for $5 back in '99. At the time there
weren't many of these trading but virtually all buyers and sellers knew that this
was not a $5 coin. Prices tended to be set by negotiation and at higher levels.
Today they list it for $63. Todays coin would have to be slabbed to bring this mon-
ey and could again actually sell for more if a pleasing example. While this coin may
have actually increased more than 10x since '99, its true increase has been much
more uniform than any price guide would indicate.

Just a couple more doublings in prices, and it may be time to start dabbling with sell-
ing this type of material. (if not this particular coin)

BAJJERFAN

Actually I mite also be inclined to sell off the common and semi-common Morgans and dupes and maybe get more into collecting key and better date coins.

oreville

Eureka: You something we don't know?

khayse

I agree that most people collect coins with a certain relationship to their income.
So unless they are super rich and money no longer matters (or they are retired and have "everything they need"),
they would sell most coins if the coins appreciated far beyond the range they usually buy in.

I would definitely sell most coins if they all tripled in value en masse.
If just a few tripled I would probably let them be exceptions in my collection.

How could you not take advantage of the piece of mind of not having a house payment if you had the opportunity?

Also I would keep collecting if I could. That is if I could still buy what I think are attractive coins for the price range I have
established I probably would. I've been spoiled by collecting mint state pieces so if all I could afford is EF45 then I probably
wouldn't collect. If I went from MS65 pieces to MS63 that might be OK. Maybe I would find a new series that is less expensive.

-KHayse

haletj

I would sell all my 20th century mint state coins (with the possible exception of my 14-d and 19-s pennies), and start going for a complete 20th century set in Fine.

fishcooker

I guess you mean pre-1964 US coins. Otherwise, there is no gain

If my coins rise in value, but every other coin does also, I certainly can't take profit and then collect a better quality of coin or a key date. My collection is not benefitted at all.

MyWorldCoinTypeSet

I would cry, as all of my coins are Canadian (except for some change in my pocket).

Askari

<< <i>I'd probably sell out all of my U.S. coins and start on the Dark Side myself. I'm becoming a convert. I'm learning that foreign issues just plain beat the pants off of ours for beauty. >>

Shhh-h-h-h!!! You'll start the rush early -- and I don't have any Cedars of Lebanon in stock yet!

cosmicdebris

Sell Sell Sell. I have not brought any US coins except for the yearly Mint and Proofs in over a Year and a half now anyway.

Then I could take a trip to the UK and Buy Buy Buy.