Assuming we go into a significant recession, followed by a depression....
coinlieutenant
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coinlieutenant
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<< <i> I own a lot of ammunition. I will need it for the doom and gloom being forecast that everyone will be out in the streets fighting to survive. >>
And you can melt your silver to cast more bullets. Which'll come in handy if there's an outbreak of lycanthropy and werewolves roam the streets along with the rest of the dispossessed mobs.
Brothers, Mrs curly thinks ol' curly is the greatest thing since sliced bread. If my coin spending gets outta hand, I'll just put her to work.
I married a filipna, so I can just immigrate to the PI and ride out the storm
Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."
But if you live by what the liberal mass media tells you everything is black!
<< <i>...what do you think will be the positives for you as a coin collector? >>
I would guess cheaper coin prices for those that will have any money to spend on luxury items such as coins.
<< <i>Well, all the signs are there. GDP growth of 4.9% in the 3rd quarter, low inflation, low interest rates, job growth every month, federal deficit declining...It's terrible. Sell, Forrest, sell. >>
And rigged figures put out by the fed that have taken all the real stuff out of the equation long ago to make there math look good. My friend you lose your $30 an hour job and have to take a $10 job to replace it all that data means squat your not better off and if you can't find a job in 6 months they just drop you off the calculaction. Any one paying Utilities, buying food, or medical insurcance should figure all these numbers out very quickly unless your slow IMO. They've also came out with 50% of Americans are way in over their heads in debt so the little game will come to an end just wait and see. I think the Fed likes to devalue the dollars so they can pay all their debt with paper worth far less then when it was purchased.
<< <i>...what do you think will be the positives for you as a coin collector? >>
Since we'll all be homeless hobos, I'll have something to trade for food and clothing.
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There is always opportunity in chaos.
J
siliconvalleycoins.com
<< <i>
<< <i>Well, all the signs are there. GDP growth of 4.9% in the 3rd quarter, low inflation, low interest rates, job growth every month, federal deficit declining...It's terrible. Sell, Forrest, sell. >>
And rigged figures put out by the fed that have taken all the real stuff out of the equation long ago to make there math look good. My friend you lose your $30 an hour job and have to take a $10 job to replace it all that data means squat your not better off and if you can't find a job in 6 months they just drop you off the calculaction. Any one paying Utilities, buying food, or medical insurcance should figure all these numbers out very quickly unless your slow IMO. They've also came out with 50% of Americans are way in over their heads in debt so the little game will come to an end just wait and see. I think the Fed likes to devalue the dollars so they can pay all their debt with paper worth far less then when it was purchased. >>
There are plenty of message boards to debate politics....oh wait, Yahoo closed their boards...Raging Bull died, and PCGS pulled the Open Forum. What are the disinformation loons to do?
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then again, I'd be poor and not able to afford them.
oh, woe is me!
Liberty: Parent of Science & Industry
<< <i>
<< <i>...what do you think will be the positives for you as a coin collector? >>
Since we'll all be homeless hobos, I'll have something to trade for food and clothing. >>
I'd say the last couple of generations that's bought into the banks/Wall Street glee to take money out of your home because you can make more in the market are in trouble. But me being 50 I can tell you the older folks that lived off what they made or those of us paying off our house and debt will be fine. Even Susan Orman that's big on investments say you have to live somewhere pay your house off and worry about investment secondary. Smart Americans plan for the worst because there really not any downside other than leaving a little more money to your kids. Greed and created Wealth seem to be running rampant in American today and people want more money than they can ever spend in their lifetimes. I've never understood that.
Here in Tulsa we have 250 thousand house without power, it looks like a war zone and maybe 7 to 10 days before it comes back on. I now hear a lot of people that are thinking a little different after this event. Me I got my fireplace, an old free standing propane stove, latterns, food, water, ammo and guns if you insist but I'm a big shooter and gun collector. I'm good for a couple months but it's not as warm as most would like. New Orleans should give you a clue of what can happen in some parts of the country but here even though it's pitch black at night everything is calm and everyone is working though this together just like our parents in the past. Now the kids that can't want TV and Video games their going crazy.
Since we'll all be homeless hobos, I'll have something to trade for food and clothing.
There are plenty of message boards to debate politics....oh wait, Yahoo closed their boards...Raging Bull died, and PCGS pulled the Open Forum. What are the disinformation loons to do?
LMAO, didn't bring it up but I wonder why if you feel this way you enter into the talk.
In 2000, when the stock market tanked, $8 trillion was wiped out. By all measures, that should have been deflationary. It was not. Prices of everything went up. The Fed printed more money which caused debasement of the currency and the prices of 'things' to increase.
The same thing is happening now. Houses are still going down and could erase $8 trillion in the next few years but the Fed is creating more and more money to ease the pain. The prices of 'things' will go up. Coins are 'things'. Coins made of gold and silver have tangible intrinsic value and will continue to do so.
Some coins will go down, some up. The same for any market.
The premium to melt value on many gold coins now is the lowest it has been in years. You can still buy nice au58-ms62 gold coins at little over melt. I suspect that those coins will have a huge surge if the Fed keeps printing money and gold keeps going up. I have been a buyer of these coins for the past few years.
Modern MS70 coins which go for 2X or more over melt, will probably decline. I have been staying away from these
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
<< <i><<...what do you think will be the positives for you as a coin collector?>>
I married a filipna, so I can just immigrate to the PI and ride out the storm
Most depressions are a world wide event so there will be no escape.
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
<< <i>It would take more than a depression to get me to change my collecting habits. >>
That is what I like about you Andy...collector til the end!!
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For the most part, collector status won't be of much help.
Well, all the signs are there. GDP growth of 4.9% in the 3rd quarter, low inflation, low interest rates, job growth every month, federal deficit declining....
Now that's the funniest thing I've heard today!
Helicopter Ben would be proud of you.
roadrunner
How about if the earth fell into the sun?
Would my coins be worth less??
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Basically the rich get richer and the poor get poorer.
Knowledge is the enemy of fear
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<< <i>
<< <i> I own a lot of ammunition. I will need it for the doom and gloom being forecast that everyone will be out in the streets fighting to survive. >>
And you can melt your silver to cast more bullets. Which'll come in handy if there's an outbreak of lycanthropy and werewolves roam the streets along with the rest of the dispossessed mobs. >>
No, no...silver worked in Victorian England, but after the inflation during the 20th century, werewolves now refuse to die from anything less than a gold bullet. It's simple economics.
grits - there is no global warming - it is another of the big hoaxes.
As far as what the recession would do for me - well if I am able to make it and not spend my collection, I would hope to find some great deals - unfortunately taking advantage of those who need to sell cheap to make ends meet. I would also hope to probably find some good stuff in change, as people spend bullion junk coins, and thieves sell or spend coins they steal from other people to survive. Unfortunately, if things got bad, all of that would be true.
"Seu cabra da peste,
"Sou Mangueira......."
Funny I hear people saying they now know what the people in Iraq are going though everyday. You don't realize how worthless somethings are until something like this happens. We have crew coming in from all over the nation since there's about 500,000 homes without power in Oklahoma. I live at the lake so I'm going to be one of the last I'm sure. In a way this is a blessing since I can see what I need to do better. We had a major ice storm that hit a town here last year that didn't have power or water for 2 weeks. Everyone was laughing that I had water and food for at least a month for 2 and means (shotgun, fishing equipment to got much longer and could make clean water if needed).
If the bird flu or something like this happened many people will find that there won't be any stores open. We had long line at the few gas stations that were open and fighting by some. We have tree crews coming in from everywhere and one company that works hurricanes said on the radio that this is like a Cat 5 Hurricane and they haven't seen anything worse. One thing I can say all of us are working together to get things done. It was very scary for 2 days with cracking trees some hitting so close to the house with no where to go. But it's all good everyone is taking it in stride for the most part it hasn't been like New Orleans but it could be since everything is pitch black and no alarms.
I did find that it's upper 20's at night right now and with my fireplace and a free standing propane heater on the porch (I'm on propane) I can get my house up to the upper 40's. Looks like I may get one of the ventless furnesses and maybe a generator next year. When you need this stuff it's really needed.
Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."
<< <i>My friend you lose your $30 an hour job and have to take a $10 job to replace it all that data means squat your not better off and if you can't find a job in 6 months they just drop you off the calculaction. >>
me thinks you were either WAY overpayed or not worth 30 bucks an hour. if you are good at what you do the money is out there.
hi, i'm tom.
i do not doctor coins like some who post in here.
<< <i>
<< <i>My friend you lose your $30 an hour job and have to take a $10 job to replace it all that data means squat your not better off and if you can't find a job in 6 months they just drop you off the calculaction. >>
me thinks you were either WAY overpayed or not worth 30 bucks an hour. if you are good at what you do the money is out there. >>
Not in Oklahoma but I could move to the coast and get way more but pay way more for everything. I think some of you need to get out and see the country. Big city folks seem to think there world is the only thing out there and have never seen their own country much less any third world county. I'd count myself lucky as long as it last. I see Maryland is now wanting to hire "Green Card" LEO's, we in various industy like construction or IT knows this is all about wages and big bussiness cutting benfits and cost. It will come to your area too I'd say so get out of debt while you can. I've been lucky since I'm in a document magament field and have uncommon skills but if your a DB, Sever support, or network guy like some of my friends they know what can happen. I think your just pumping your chest thinking it'll never happen to you.
Go on telling yourself that
<< <i>I thought this thread was about a recession, not an ice storm. >>
With extra added mention of Iraq, New Orleans and hurricanes.
Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."
LOL - Good luck to all those in OK. It really does make you think "WHY didn't I 'do that'/insert many things."
<< <i>They don't say brevity is the soul of wit for nothin, ya know. >>
I thought the saying was "Brevity is the soul of lingerie."
An authorized PCGS dealer, and a contributor to the Red Book.
I really didnt want this to be about the possibility, ludicracy, likelihood or rapid onset of doom and gloom.
Only Elwood and a few others have taken the time to answer the freaking question so I will go ahead and throw my two cents in on both regards.
I believe that during a recession, there will be moderate rarities to be purchased at a significant bargain. Much of the coins that have seen major run ups in the last 5 to 7 years will be on sale given that many of the purchasers of such coins are middle class Americans that will suffer greatly in the event that things go south. Major rarities are in a different class...they will only continue to go up in value IMO regardless of the economy. The rich never really feel the hardships the way the middle class or poor will.
Without dwelling too much on the topic that everyone WANTS to talk about in this thread, I wont offer my opinion. What I do find interesting is all of the people that croon and croak about the "doomsday prophets". IMO, only a fool doesnt at least take some precautions when the minority begans to vocalize concerns. My advice is to take everything with a grain of salt...but act like a boy scout...and be prepared.
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<< <i>Well,
I really didnt want this to be about the possibility, ludicracy, likelihood or rapid onset of doom and gloom.
Only Elwood and a few others have taken the time to answer the freaking question so I will go ahead and throw my two cents in on both regards.
I believe that during a recession, there will be moderate rarities to be purchased at a significant bargain. Much of the coins that have seen major run ups in the last 5 to 7 years will be on sale given that many of the purchasers of such coins are middle class Americans that will suffer greatly in the event that things go south. Major rarities are in a different class...they will only continue to go up in value IMO regardless of the economy. The rich never really feel the hardships the way the middle class or poor will.
Without dwelling too much on the topic that everyone WANTS to talk about in this thread, I wont offer my opinion. What I do find interesting is all of the people that croon and croak about the "doomsday prophets". IMO, only a fool doesnt at least take some precautions when the minority begans to vocalize concerns. My advice is to take everything with a grain of salt...but act like a boy scout...and be prepared. >>
So do you consider that was I one of those who answered your question?
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