What impact has the market turmoil on Wall St & Main St had on your collecting?

DBSTrader2

Has the recent free-fall impacted any collectors' "business-as-usual" around here? Or future plans?

Lucky for me, I don't spend a lot on anything expensive, but with 2 kids approaching college age, 2 aging cars, a mortgage, and retirement to plan, these 500, 600, 700 point drops every single day sure don't make me feel comfortable these days!

And with dire predictions for banks, the Big 3, etc, who knows if any car I buy or line of credit I arrange will even be supported by the original provider in a year or two?.......................



- - Dave

theboz11

The drop in the Market has no effect on me, the drop in the Gold Market was a great buying opportunity, as I suspect the market will be someday.

People with credit scores over 800 are having no problem from what I understand from CNBC news, so if your credit rating it top tier, you should have no worries. I suspect that they will eventually raise FDIC insurance to cover full accounts soon. So I would not even concern myself over that

worldcoinguy

Tough to say. I am a bit anxious about a couple of bids I put in Kuenker a few weeks back. If I knew then what I know today, I would have sat on the money instead of bidding. They will not post the winning bids until next week, so I can't get it off my mind. I have kids and I am not in a recession proof job, so I do not want to be frivilous about spending. Coins are something that a truly enjoy for many reasons, but when it is said and done, I have to remember that they are ultimately a luxury in this world.

1jester

I have no money in the stock market, so no worries from that side. However, this situation might usher in a deflationary period, which will have a negative impact on coin prices. In essence, I think it's a good time to not go overboard on unnecessary expenditures, and accumulate cash. On the other hand, it might prove prudent to have savings in the form of hard currency, ie gold and silver bullion or coins.

Definitely a new era awaits us! And I've thought for years that this moment was imminent, and here we have it. I expect conditions to be worse than the last Great Depression.

MrEureka

What impact has the market turmoil on Wall St & Main St had on your collecting?

None. If I need a coin, I'm still going to try to buy it. However, my diet may need to change...

adamlaneus

It's not the stock market that has directly curtailed my collecting.

It's the coming layoffs...
...that the stock market decline has caused...

...that have curtailed my collecting.

If I know my job is at risk, then discretionary funds disappear. Simple as that.

TwoKopeiki

With financial spreads being affected from both sides, there's always a risk of expense cutting. A lot of the times that translates into lay-offs, so I'm potentially impacted as a Bank employee. On the personal investments side - my portfolio is tanking, but it's extremelly small and not well diversified, so I expected it to do as much. Still hurts, though.