Effects of Higher Gas and Oil on Coin Dealers and Shows

vinman

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?

Longacre

I'm not quitting my job because of high gas and oil prices. Even if gas went to $20 a gallon, I would still need to drive to go to work for The Man. I don't think it will have any effect on coin dealers and their travels to pursue their livelihood.

vinman

I will do the same

Steve27

It will affect the amount of cash that hobbyists have to spend on coins, but for dealers, it's just another cost of doing business.

agentjim007

I talked to a dealer at our last show and he told me the cost of Long Beach (more than just gas) will keep him from going.

vinman

IMHO i think you will see alot of selling

Nocerino18

Vinman stop being so cheap. If you don't have the inventory I guess gas prices will hurt people like you vinny.

vinman

HAHA

vinman

What do I care about gas prices. I just bought a V-8 SUV

Michigan

<< <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.

291fifth

On line dealing is likely to become more important. Attendance at shows will decline for both dealers and collectors.

Dealers would be well advised to become expert coin photographers.

vinman

hopefully this Christmas season will still be good for both coin dealers and collectors

MineralView

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.

david3142

@MineralView said:
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!

Walkerguy21D

And here we are nearly 20 years later and current gasoline prices are still in the same ballpark, though with fluctuations along the way.

TxCollector

Mustard prices however...

PerryHall

@Walkerguy21D said:
And here we are nearly 20 years later and current gasoline prices are still in the same ballpark, though with fluctuations along the way.

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.

Cougar1978

It would not change anything but put more pressure on the business cost structure. Perhaps some other areas budget would be reduced.

Walkerguy21D

@PerryHall said:

@Walkerguy21D said:
And here we are nearly 20 years later and current gasoline prices are still in the same ballpark, though with fluctuations along the way.

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.

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??

DocBenjamin

Recall oil going to negative $37 a barrel on futures expiration in 2020.

Good time to own an empty tanker ship.

CRHer700

When I first moved to Florida near the beginning of 2021, gas was $2.02. Now it averages about $3.20.

CRHer700

Why do @vinman and @Nocerino18 both have the exact same profile picture?

jedm

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.

PerryHall

@CRHer700 said:
When I first moved to Florida near the beginning of 2021, gas was $2.02. Now it averages about $3.20.

I have a similar experience. An increase of over 50% is not anywhere near to being in the same ballpark.

skier07

@agentjim007 said:
I talked to a dealer at our last show and he told me the cost of Long Beach (more than just gas) will keep him from going.

JetBlue not flying into Long Beach makes Long Beach more expensive and difficult for lots of folks.

DocBenjamin

@PerryHall said:

@CRHer700 said:
When I first moved to Florida near the beginning of 2021, gas was $2.02. Now it averages about $3.20.

I have a similar experience. An increase of over 50% is not anywhere near to being in the same ballpark.

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.