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The coin industry as a whole should try
packers88
Posts: 558
and get the word out to the media on just how large the coin collecting industry is and how often it is thought of as a safer place to put ones money as opposed to the banks or stocks. With millions of people withdrawing money from brokerage accts and banks I can bet if alot of people knew of the returns coins have experienced over the years we would see an influx of new collectors coming in. For example, joe schmo goes to his washington mutual branch and withdraws $20000 out of fear of losing his money to a collapse, yes it is fdic insured, but he is still worried, and not wanting to put his money in another bank out of fear of the same thing happening he decides to just sit on his money and hide it in his house. Yes, he would like somewhere to put his money, but where? The stock market, that has basically scared the crap out of everyone? The banks where you might go to the branch one day and the doors are locked? As you can see I bet there is alot of people who if they were educated on the coin market and the historical returns wouldn't mind putting some money into coins and with all of this money being withdrawn from banks I bet there is alot of cash sitting in houses right now. Now all we need is to get the word out to the media, that hey why not put some of your money into coins as opposed to stocks. The ANA or some other organization should take some sort of publicity campaign into consideration and especially at this time of crisis where stocks are no longer appealing and hoards of people likely sitting on hoards of cash in their houses.
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www.brunkauctions.com
But if someone wants to diversify into coins, I'm all for it.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
<< <i>i havent seen a post that i disagree with more strongly than this one in quite some time......this hobby (and remember that it is just that, a hobby) is thinly capitalized and any money that comes in will at some point pull out......i dont know about you but i dont like volatility in my hobby >>
I agree completely. It's been tried before, coin funds as an alternative to stock mutual funds, Mr. N. could give you some good advice on that if he were around to discuss it on the forum. Ask anyone who was around in 1989 when TPG's were thought to be the answer to standardizing coins in a particular grade as a commodity so they could be traded much the same way as stocks. It didn't work.
john
<< <i>i havent seen a post that i disagree with more strongly than this one in quite some time......this hobby (and remember that it is just that, a hobby) is thinly capitalized and any money that comes in will at some point pull out......i dont know about you but i dont like volatility in my hobby >>
I agree.
Speculators are the bane of the hobby. They are NOT WELCOME so far as I'm concerned. I'm very willing to help new collectors and young numismatists. BUT if you attitude is. "How much money will I make if I buy this coin, and how long will it take me to make?" you can go find another "investment medium."
The mind set of this post reminds of the now screwed housing market. People thought that real estate values would keep increasing by as much as 25% per year forever. They were wrong. I've been a coin collector for almost 50 years, and I've seen at least four major crashes in that time and few smaller ones. This bull market will not last forever. In fact some parts of it are already finished.
<< <i>I agree.
Speculators are the bane of the hobby. They are NOT WELCOME so far as I'm concerned. I'm very willing to help new collectors and young numismatists. BUT if you attitude is. "How much money will I make if I buy this coin, and how long will it take me to make?" you can go find another "investment medium."
The mind set of this post reminds of the now screwed housing market. People thought that real estate values would keep increasing by as much as 25% per year forever. They were wrong. I've been a coin collector for almost 50 years, and I've seen at least four major crashes in that time and few smaller ones. This bull market will not last forever. In fact some parts of it are already finished. >>
Exactly. The coin market crashes just like any other market. Pretty much any investment medium is like that: collectible cars, collectible historic artifacts, collectible minerals, baseball cards, etc.
The panicked guy in the OP's hypothetical situation would probably be better off with PM's if banks and stocks scare him.
Welcome to the human one !
``https://ebay.us/m/KxolR5
I agree with lkeigwin that PM's would be a better venue for an investor in this situation.
-Randy Newman
You guys need to get a life.
I agree with the OP and with diversifying. Maybe the OP should try the precious metals forum with the premise.
<< <i>OP's post is the stupidest post I've read in some time -- but made for a great morning laugh!
i agree
K S
<< <i>you know what, coin collectors are a wierd bunch. This is why it isn't more popular as a hobby. What kind of warped, twisted soul does not want new blood entering the hobby?
You guys need to get a life.
I agree with the OP and with diversifying. Maybe the OP should try the precious metals forum with the premise. >>
if you like competition so much, why do'nt you try out for special olympics? JEEEEEEz
less competition for coins means more coins for me. THAT'S what i care about!!!
K S
Invest if you want to invest
Speculate............buy an old gold mine and pray
1-Dammit Boy Oct 14,2003
International Coins
"A work in progress"
Wayne
eBay registered name:
Hard_ Search (buyer/bidder, a small time seller)
e-mail: wayne.whatley@gmail.com
``https://ebay.us/m/KxolR5
Unfortunately, those doors can get pretty narrow and be blocked with lots of obstacles. Speculators and investors have been trapped in the exits before...
One cannot tell people what to do with their money, but I for one would be amongst the last to recommend this hobby to anyone that didn't have a true appreciation for the beauty of, and history that coins represent.
Just one mans humble opinion.
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
In case you don't know, front page articles for the wisconsin leaf and washington smoothies made it to tthe USA Today and after that happened well the rest is history. I guarantee you thousands were going to eebay who never collected a coin in their life and bought a smoothie or leaf as an investment and if we could do this with the industry as a whole then it could only help our investments. How about an ANA ad in the USA Today once a month with a schedule of coin shows throughout the country and a table showing some of the historic returns of coins over the years or a little synoposis on a hobby that can not only be enjoyable, but also be an investment? It is common for any industry to get the word out about its product. Just like the dairy's farmer association gets the word out, "Got Milk". There is no reason why the ANA shouldn't promote the hobby to mainstream America. Trust me, I've been to alot of shows and this hobby needs new blood and more importantly new young blood because the shows I go to the majority of attendees are 40 or over.
Just my opinion but collecting is just that. If you make a few dollars along the way, or lose a few, your are still a collector.
1-Dammit Boy Oct 14,2003
International Coins
"A work in progress"
Wayne
eBay registered name:
Hard_ Search (buyer/bidder, a small time seller)
e-mail: wayne.whatley@gmail.com
I for one want less big investment/speculative money in the hobby, not more.
This is the new Washington Sky Rat error coin. There is only one known in existence.
Do not mistake it for MadMarty's Rubber Chicken.
``https://ebay.us/m/KxolR5
1-Dammit Boy Oct 14,2003
International Coins
"A work in progress"
Wayne
eBay registered name:
Hard_ Search (buyer/bidder, a small time seller)
e-mail: wayne.whatley@gmail.com
<< <i>i havent seen a post that i disagree with more strongly than this one in quite some time......this hobby (and remember that it is just that, a hobby) is thinly capitalized and any money that comes in will at some point pull out......i dont know about you but i dont like volatility in my hobby >>
If it's just a hobby, why do you even worry about "volatility"? I don't agree with all of the OP, but why are some here so threatened by an influx of new potential collectors? Sure, they would be unsophisticated, but we all started out the same way, and I doubt many of us are experts on stocks, bonds, or anything else we invest in.
Why would we want a bunch of investors to gum up everything and then leave
the field in disgust because they spent their money unwisely and lost it?
Of course I am average guy collector and love all the coins your fellas have.
1-Dammit Boy Oct 14,2003
International Coins
"A work in progress"
Wayne
eBay registered name:
Hard_ Search (buyer/bidder, a small time seller)
e-mail: wayne.whatley@gmail.com
<< <i>We don't even do a good job of attracting collectors. Hell, we barely even try.
Why would we want a bunch of investors to gum up everything and then leave
the field in disgust because they spent their money unwisely and lost it? >>
We have already been though this cycle at least twice (1980 and 1989). The "investors" (speculators) lost a bundle, got mad and some of them when the FTC to whine about how they are been cheated. Some of them had been cheated with over graded coins, but a lot of their pain was caused by themselves. They ran the market up beyond the levels that collectors were willing to pay. They bought into the crap assertion that there was “an investors market” and “a collectors’ market.”
In the long run there is only ONE MARKET, the collectors market. If the collectors are unwilling to pay the higher prices and only “investors” will pay them, you are in a “bigger fools’ market.” When you run out of fools, the market collapses.
And no sticker for you either.
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
<< <i>dbcoin, exactly!! If just a small percentage of the millions of people who have taken out more cash than they would like to go to a coin show and just buy one or two coins, then the next thing you know they take more interest in the hobby and are at the next coin show pumping more money in. My point was 99.9% of americans don't understand the coin collecting industry and how this is a legit investment just like anything else.
Coins are a hobby, bullion is an investment
I mean a teller actually handed me a double edge at a bank last year and said here you might want this coin I heard it is an error. You got to be kidding me.
Did you tell the teller what it was and its value or did you rip it???
I have done quite well with my coin investments and probably much better than the stock market. My point is 99.9% of the people out there aren't going to walk into a coin shop or show out of the blue and say here I have $500 to spend what should i buy, but if these 99.% all picked up the USA TOday tomorrow and there was an article on how different coins have exploded over the years then you would see many new collectors coming in.
In case you don't know, front page articles for the wisconsin leaf and washington smoothies made it to tthe USA Today and after that happened well the rest is history. I guarantee you thousands were going to eebay who never collected a coin in their life and bought a smoothie or leaf as an investment and if we could do this with the industry as a whole then it could only help our investments.
And I will bet that out of the thousands you claim that went to ebay, a good number of them likely got sold a fake washington smoothie. Alot were manufactured by people trying to rip off other people. When they go to sell they will be disappointed.
How about an ANA ad in the USA Today once a month with a schedule of coin shows throughout the country and a table showing some of the historic returns of coins over the years or a little synoposis on a hobby that can not only be enjoyable, but also be an investment? It is common for any industry to get the word out about its product. Just like the dairy's farmer association gets the word out, "Got Milk". There is no reason why the ANA shouldn't promote the hobby to mainstream America. Trust me, I've been to alot of shows and this hobby needs new blood and more importantly new young blood because the shows I go to the majority of attendees are 40 or over. >>
We as collectors welcome other collectors into the hobby. Collectors come into the hobby wanting to learn, most investors just want money and don't care to learn about the coins.