Nice little coin story from Westminster, MD....35 minutes from my house, and 1 1/2 hours for Tootawl
Goldbully
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I love 12 year old Brandon Locke's story at the end of this article........
From the Carroll County Times October 13, 2008
Market turmoil makes coins hard to price
By Bryan Schutt, Times Staff Writer
With Wall Street in a funk and the global economy in turmoil, collectors say the market for coins and precious metals is complex and bizarre and pinning down prices has proved to be elusive.
At the Coin and Currency Show at the Westminster fire company Sunday, most of the regional traders, collectors, buyers and sellers said the tumultuous economy and fluctuating metal prices make buying and selling coins and currency an ever-changing environment.
Rick Henderson, owner of RNH Collectibles in Glen Burnie, said usually when the stock market goes down, metal prices go up. But now, the market is bouncing up and down, day by day. Right now, silver is down in price, and gold isn’t as valuable as it was in the spring and early summer, according to Henderson.
He said one of the only certainties is you can always trade any aged American currency to banks.
“All this stuff has some value,” Henderson said. “You may not get what you bought it for, but it’s pretty liquid.”
Westminster resident Henry Shrewsbury said he was looking to sell silver dollars but he was doing his homework before he made a decision.
“You’ve got to shop around,” he said. “I might sell, but if the price is right, I might buy, too, with the way things are going.”
And even though he said he was in a good situation, he was sympathetic to people who’ve been forced to sell because of the economy.
“The economy is so bad right now, people are hurting,” Shrewsbury said. “People are selling everything like cars, homes and jewelry, and it’s sad because they’re not getting much back either.”
Bob Bell, owner of Catonsville-based Buying U.S. Coins and Currency, said he was surprised many people came to the show.
“People are more cautious with discretionary spending,” Bell said. “But some people are seeking to buy … because [precious metal] holds its value.
“It’s a strange time.”
Carl Ostiguy of CEO Coins, Currency and Treasuries in Savage, said some people are panicked by the market and resorting to precious metal to secure their wealth. Others are selling their valuables to get by.
“Some people are taking their cash from banks and buying gold and silver,” said Ostiguy, who organized the show at the fire company. “Other people are just trying to make ends meet, and they’re selling silverware and jewelry.”
But among all the uncertainty, 12-year-old Brandon Locke of Westminster was at the show fueling his passion for coin collecting.
“A few years ago, my mom showed me some old coins, and it really interested me,” Locke said. “So I got into it, and now I’m always looking on the ground for coins and [at shows] I come out to see what people have.”
He said because he is young he can’t afford some unique, older coins, but he saves up and has been steadily building his collection.
“I’m most proud of the coins I have at my age … I have thousands,” Locke said. “When I’m older I want to open a trading business, even though people doubt me now.”
Reach staff writer Bryan Schutt at 410-857-7886 or bryan.schutt@carrollcountytimes.com.
The Times of CC
From the Carroll County Times October 13, 2008
Market turmoil makes coins hard to price
By Bryan Schutt, Times Staff Writer
With Wall Street in a funk and the global economy in turmoil, collectors say the market for coins and precious metals is complex and bizarre and pinning down prices has proved to be elusive.
At the Coin and Currency Show at the Westminster fire company Sunday, most of the regional traders, collectors, buyers and sellers said the tumultuous economy and fluctuating metal prices make buying and selling coins and currency an ever-changing environment.
Rick Henderson, owner of RNH Collectibles in Glen Burnie, said usually when the stock market goes down, metal prices go up. But now, the market is bouncing up and down, day by day. Right now, silver is down in price, and gold isn’t as valuable as it was in the spring and early summer, according to Henderson.
He said one of the only certainties is you can always trade any aged American currency to banks.
“All this stuff has some value,” Henderson said. “You may not get what you bought it for, but it’s pretty liquid.”
Westminster resident Henry Shrewsbury said he was looking to sell silver dollars but he was doing his homework before he made a decision.
“You’ve got to shop around,” he said. “I might sell, but if the price is right, I might buy, too, with the way things are going.”
And even though he said he was in a good situation, he was sympathetic to people who’ve been forced to sell because of the economy.
“The economy is so bad right now, people are hurting,” Shrewsbury said. “People are selling everything like cars, homes and jewelry, and it’s sad because they’re not getting much back either.”
Bob Bell, owner of Catonsville-based Buying U.S. Coins and Currency, said he was surprised many people came to the show.
“People are more cautious with discretionary spending,” Bell said. “But some people are seeking to buy … because [precious metal] holds its value.
“It’s a strange time.”
Carl Ostiguy of CEO Coins, Currency and Treasuries in Savage, said some people are panicked by the market and resorting to precious metal to secure their wealth. Others are selling their valuables to get by.
“Some people are taking their cash from banks and buying gold and silver,” said Ostiguy, who organized the show at the fire company. “Other people are just trying to make ends meet, and they’re selling silverware and jewelry.”
But among all the uncertainty, 12-year-old Brandon Locke of Westminster was at the show fueling his passion for coin collecting.
“A few years ago, my mom showed me some old coins, and it really interested me,” Locke said. “So I got into it, and now I’m always looking on the ground for coins and [at shows] I come out to see what people have.”
He said because he is young he can’t afford some unique, older coins, but he saves up and has been steadily building his collection.
“I’m most proud of the coins I have at my age … I have thousands,” Locke said. “When I’m older I want to open a trading business, even though people doubt me now.”
Reach staff writer Bryan Schutt at 410-857-7886 or bryan.schutt@carrollcountytimes.com.
The Times of CC
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