WHAT IS YOUR CASH POSITION BASED ON THE CURRENT MARKET CONDITIONS. (POLL)

Peaceman

Up, down, slowing, gathering speed.... some say the sky is falling... some say get on now and watch it go...

Here is a poll for both sides of the market. I'm curious to see where people are at.......

Bear

I have pruned my set and am in a 25% cash position.

I am protected if the coin market goes up or down.

I am out of all short term debt and my credit cards are

all zeroed out. I have secured the hatches, lashed

the cargo in the holds and have rigged storm lines.

Voted Neutral.

TommyType

Didn't vote...

The premise of the question is that I have a "coin fund" that may be in coins, or in cash. I have no such fund!

I think many of us just buy coins as we acquire the spare funds, maybe selling when other priorities or collecting interests strike.

keoj

Great question and well articulated.

keoj

JrGMan2004

<< <i>Didn't vote...

The premise of the question is that I have a "coin fund" that may be in coins, or in cash. I have no such fund!

I think many of us just buy coins as we acquire the spare funds, maybe selling when other priorities or collecting interests strike. >>

I agree, very much so...

nwcs

Same here.

DUIGUY

Thougt I was in fairly good shape untill reading Wise Oll Bears opiniun. Now I feel like stocking up on
boxs of depends

Bear

Tomy

I buy small quantities from the Mint yearly, but this year I am looking to add to Morgan/Peace dollars, only as funds allow.

RYK

The premise of the question is that I have a "coin fund" that may be in coins, or in cash. I have no such fund!

Voted neutral to reflect this. I do not speculate/invest in coins. I buy them because I like to own them.

FatMan

The small amount of cash I hold is positioned in my wallet pocketed on my right butt cheek.

I did not vote. I'm with the others here. I buy coins with entertainment dollars. No position to it.

UncleWiggly

I think it was Henry Ford who said..just buy the right coin and the price will eventually pass you up.. With that said I guess I'm out because I wouldn't know what the right coin is. What market are you specifically talking about?



Jerry

Veep

I've been divesting gradually since Central States when I sold several of my cornerstone pieces for ridiculous amounts. I still have many very nice coins whose day will come. In the meantime, I'm not buying anything rare; just having fun collecting Civil War Tokens and learning about currency.

K6AZ

None of the answers applied for me, so I chose neutral. I sold off most of the key and semi key Morgans I had, which amounted to about 20% of the total value of my entire collection. I believe Morgans are near or at their peak, and it's a matter of time before the prices come back down. As far as some of my other coins, I don't think I ever have to worry about the prices crashing, especially with my early US gold type set. I've put the cash from my Morgan sales into six month CDs, and I'm not sure if any of that money will ever go back into coins.

Bear

K6 and Veep, Both opinions sound most prudent and wise. One can never pick the absolute

top of any market. It seems best to take a little profit now and just wait for a more adventagious

buying opportunity. True classic rarities, will tend to hold their value in any kind of market.

Guess that makes us contrarians.

FrankHKP7

Hmm.... the poll histogram looks alot like the bell curve of standard distribution. I wonder what the distribution for the same poll would have looked like 5, 10 or 15 years ago. I wasn't in the market then, for those of us who were how would you have answered?

MrEureka

True classic rarities, will tend to hold their value in any kind of market.

Nonsense. While it may be true that classic rarities tend to be in strong hands, and it may be true that strong hands often wait out bear markets, those relatively few classic rarities that DO come to market at the "wrong time" are typically discounted mightily.

Bear

Listen Mr E, I have as much right to be wrong

as you have to be right.

solid

Every time I sell a coin for a profit, I manage to find one or more others that catch my eye.

In between coin sales, I manage to come up with the cash to fund my habit...errr, hobby.

morgannut2

I'm finally going to listen to the Wise Old Bear. I put 3 coins in Fun, and will prune 25-35%. My circulated hobby coins
I view as an expense and will add as my monthly budget allows, and interesting stuff appears.

CCNugett

All I have to say is buy every low mintage A/U- M/S slabbed Morgan dollar you can get your hands on.Population of the USA is over 300 million.Population of some of these Morgan Dollars 400 thousand---2 Million.
Hugh run -ups in prices and it's not going to stop anytime soon.
There is just not enough of the more rare dates to go around.Supply and demand at it's best.More and more collectors are placing these coins in their safe deposit boxes,never to be seen again.
Sure some of the higher mintage coins are still easy to aquire,but try some of the New Orleans and CC mints in low mintage,and in A/U to M/S conditon.You better have a hefty bank roll to pull the trigger on some of these babies.
I only lack 7 coins to complete my slabbed set and I've invested a pretty penny to get to this point.I will never sell because I know these jewels will never get any cheaper,besides they will be my daughters and grandchildrens inheritance.
I can't express how great an investment these Morgan are.I've collected coins off and on since childhood,and there is no better place to invest your dollar than in quality rare coins.I've been blessed in having the funds to buy these coins.What a piece of history these coins are.Everyone would love to own them,but not everyone can afford them.Good luck to all. TOM

morgannut2

Actually Morgans are an equal opportunity bankbuster by mint. Try a mint state 95-O, 94-P, 93-S, or 89CC.

Peaceman

Looks pretty even.....

coynclecter

I am planning on moving about half my collection in the next 4 months. The other half I want to keep for the long run (10+yrs). I have pretty much stopped buying except for a couple of pieces I need to complete a set, nothing too extreme.

Now currency is a different story. I think the prices are just starting to move and with the TPG they will rise big time in some areas. I collect gem fractionals and if you total all the unc fractionals in the 25 piece series you wouldn't have as many as the number of 1880-S morgans.

I will still be buying fractionals even as the competition for gems is getting real stiff. There won't be any 200,000 piece shipwreck hoards of these.

BTW your poll ranges from 100% cash to 100% cash. Not exactly opposite ends of the spectrum. It should range from 100% cash to 100% vested in coins.

dimples

Great survey Peaceman. Thanks!

ziggy29

I don't have a "cash position" per se. Depending on my current finances and coin market conditions, though, I may either reduce or increase my rate and level of acquisitions.

Max2

Ther are really a number of coin markets, each with its own vulnerability:

Modern Market - very sensitive to market forces

"Collector Coins" (e.g. 1908-s IHC in f, 1938-D half in VF, circ coppers) - Not very sensitve to market forces

20th Cent Unc - Moderately Sensitive

19th Century (seated, bust) - Less Sensitive

Gold - Moderately sensitive, esp the lowere the grade

Rarities ($20,000+) - Moderately Sensitive

Super Rarities (Headliners) - Not sensitive to market forces, they have life of their own, sensitive to other markets eg. goes up when real estate goes down


Off the top of my head. What do others think

morgannut2

When I thought about selling some coins, the classification that Max mentions became a concern. There's really no reason to sell any of my "standard collector" circulated coins.

Stuart

I feel that now is a great time to sell and trade Morgan Dollar duplicates, which have been created by set upgrades, while the PL/DMPL Carson City (and other mints) Morgan Dollar market is hot.

It never hurts to take some profits into a strong market, especially if those coins are no longer central to your current collecting interests.

BillJones

I always have enough cash around to do a deal of I need it.

I did blow off a couple of pieces from inventory at cost so that I would have a bit more money for FUN. The business is farily liquid. My collection fund is another story, however.