Effects of Higher Gas and Oil on Coin Dealers and Shows
vinman
Posts: 320 ✭
How much will the hobby and business of coin collecting be affected by the high gas and oil prices. Do you think it will affect shows? and how much?
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<< <i>How much will the hobby and business of coin collecting be affected by the high gas and oil prices. Do you think it will affect shows? and how much? >>
It will vary, each person has to evaluate where they stand financially.
It won't be just high gas prices but the spinoff effect of higher prices for nearly everything else.
Hurricane Katrina might have an effect as well with people donating money to help in recovery
efforts instead of spending it on coins.
Dealers would be well advised to become expert coin photographers.
Higher gas and oil prices can significantly impact coin dealers and shows in a few ways. First, increased transportation costs can make it more expensive for dealers to travel to shows or ship coins, potentially leading to higher prices for buyers. Additionally, if consumers feel the pinch at the pump, they may have less disposable income to spend on collectibles like coins. This could result in lower attendance at shows and reduced sales for dealers. On the flip side, some collectors may view coins as a safe investment during economic uncertainty, which could keep interest alive in the market despite higher fuel costs. Overall, while there are challenges, the market may adapt in various ways depending on economic conditions.
Thanks ChatGPT. Now that AI also knows how to dig up 20 year old threads surely we are all doomed!
And here we are nearly 20 years later and current gasoline prices are still in the same ballpark, though with fluctuations along the way.
Mustard prices however...
Four years ago, gas was a little over $2 per gallon. Now it's a little over $3 per gallon or close to a 50% increase. I don't consider that to be the "same ballpark". Don't get me started on the rise of the cost of auto insurance.
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It would not change anything but put more pressure on the business cost structure. Perhaps some other areas budget would be reduced.
Yeah and the country was locked down and no one was traveling 4 years ago. And I also mentioned fluctuations over time.
I paid 2.87 last week, about the same as s 2006 avg prices. There was a lengthy thread a couple weeks ago where someone paid 2.50.
And thanks for pointing out insurance costs. The original points were that higher energy prices were going to drive up costs of everything. Anyone want to sell me a house, a car, or a chain cent at roughly 2006 prices??
Recall oil going to negative $37 a barrel on futures expiration in 2020.
Good time to own an empty tanker ship.
When I first moved to Florida near the beginning of 2021, gas was $2.02. Now it averages about $3.20.
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Why do @vinman and @Nocerino18 both have the exact same profile picture?
God bless all who believe in him. Do unto others what you expect to be done to you. Dubbed a "Committee Secret Agent" by @mr1931S on 7/23/24. Founding member of CU Anti-Troll League since 9/24/24.
Oil is at roughly the same price that it was in August of 2006. Not sure what correlation there is between the oil prices and the coin market.
I have a similar experience. An increase of over 50% is not anywhere near to being in the same ballpark.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
JetBlue not flying into Long Beach makes Long Beach more expensive and difficult for lots of folks.
It is consistent with the rate of inflation over the same period. But of course oil fluctuates dramatically, Recall $150 a barrel in 2008. $5.00 a gallon at the pump.