Has the bad economy caused you to sell any of your coins? And have you bought any collections from..

SanctionII

.............. persons who have been forced to sell to raise money?

If so on either count, how dd the transaction go?

In April I sold some junk silver and used part of that money to buy a few coins and used the rest for some household expenses.

stinkinlincoln

I sold off all of my slabbed coins when the market was starting to slow. I havent bought anything due to the new baby boy on his way.

I am looking though for some nice N.O. material for my 'wish' set.

The economy didnt really factor into my selling , more the breakup with the wife. I would have been forced to sell them, but I beat her to the punch.

silverpop

Nope

Steve27

I've actually increased my purchases due to the lower prices.

yellowkid

No, have been buying when possible.

Coinosaurus

I've been selling, not necessarily because of the economy but more to right-size my asset allocations. Results are mixed - coins under $1000 seem to sell better than others.

BillJones

I made an effort to blow off inventory at the FUN show because I was retiring, and I knew the ecomomy was headed down. Beyond that I have not dumped anything because of the economy. I even bought another piece of deck chair on the Titanic when I purchased this piece recently at auction. Maybe I'm nuts, but my "collector addiciton" is continuing.

tahoe98

.......i've bought some stuff. sorta sharing my wealth with a fellow collector.

golfer72

If I needed to sell coins to raise money I have way too much tied up in coins. My coins represent maybe 1% of my net worth.

RedTiger

I haven't sold, though my buying has slowed, not necessarily tied to the economy.

When doing these surveys, keep in mind, those that are experiencing truly hard times, such as home foreclosure, and/or cars repossessed, may no longer even have Internet at home, or may be so sour on coins that they no longer visit the forum. For example, a poll on home foreclosure would likely have a near zero response rate. That wouldn't mean there are no collectors that had that happen, but those that did have it happen, may no longer have Internet, and/or no longer visit coin forums. Same with those that had to sell their entire coin collection due to financial hardship. The Internet connection may have been cut to save money, and/or interest in the hobby is now gone.

silverdollarfitz

What do you guys think the percentage is of coin collectors who do it for money vs. those who do it for the coins?

BBQnBLUES

I _HOPE_ I don't have to be put in that position of selling off coins, but got some Bad news yesterday that'll affect my monthly income drastically

<keeping fingers crossed>

DHeath

I'm buying the stuff I always do. Take a peek at the 65 half. It's a nice cameo. The surprise was the 59 PF Franklin. It is a moderate cam as well.

Last purchase

Edited to add: Haven't sold anything in a year. I think I'll clean out the closet this weekend.

ambro51

I think thats its pretty normal for a lot of coins to be held two years, and then sold. I have sold a lot, but only to change series.....so for all my selling, I have equally been buying. Copper OUT Gold IN

TwoSides2aCoin

I felt cheap before, now I feel cheaper.

Signed,

~A Coin~

tmot99

I'm selling stuff off that I am not interested in as much, like my Columbian Expo tickets. I am also looking to sell off dupicate medals. But the heart of my collection grows as I attempt to acquire other new medals that I don't have.

rbf

I'd say definitely the latter. I've seen a LOT of fresh material coming on the market lately... people saying "must sell to pay bills," etc. I've been snapping up bargains just as fast as I can find them. In fact, my transaction volume has never been higher!

JCMhouston

Haven't sold anything yet, don't know if I've bought any being sold due to the economy but I have bought quite a bit this year.

lkenefic

I did most of my selling a couple of years ago. My buying has slowed considerably but mainly due to relocating for a new job and not "the economy" per se.

topstuf

<< <i>What do you guys think the percentage is of coin collectors who do it for money vs. those who do it for the coins? >>



Of those who purchase coins over $50, ALL! One hundred percent!

Even those who deny it. Even the whales. ESPECIALLY the newer whales. Coins are bought for the prestige and lower value = lower prestige.

I'd bet money on it if I could use a voice stress analyzer when asking.

MAYBE .......an exception for those who have less than a couple % of net worth in the coins.

In my opinion.




Edited to add that this applies when the coins drop DRASTICALLY, and the 100% is if the coins drop to melt or face value.

ProofCents

When things started to slow i bought alot but the really nice stuff has dried up a little bit

mrearlygold

I've received and/or have been a part of a couple million dollars in liquidations in the past 90 days. That's quite a bit more than what I'm used to getting.

FullStepJeffs

<< <i>I've actually increased my purchases due to the lower prices. >>






But, I've seen alot of higher end material end up in auctions. Like early Jeffs in MS67FS have been out there occasionally..

The wild part is... I don't see any of the middle of the road stuff. It's all disappeared.

I used to track 100 lots on the bay all the time... now, I'm lucky if I have 20 being watched, and even fewer being bought off that venue.

At present, there is only one coin out there I'm considering purchasing. There used to be 20 all the time.

But, no worries... this too shall pass.

Steve

ArizonaJack

I had a retired Scottsdale gentleman sell me his entire collection. I tried to buy just the copper, but he would not do it. All or nothing, thus all the Morgans I have ben posting. That is just the beginning. There are over 175 more slabbers, Mercs, Buffalos, Standing Libs,etc etc I have to log and ready for sale.

I asked this person if it was a financial need to sell or merely a loss of interest, what was the reason for the sell off?

Lack of interest and the stock market and everything involved. I had to take a bank loan to buy it all, but I paid him much more than teletrade/ heritage would have, or another dealer. Cash on the spot worked. SOme of these old west types like hard money, but I am thinking that gold may be the best hard money instead of paper.

My first big transaction as a dealer, nearing 6 figures. I too have my fingers crossed.

sebrown

I haven't been forced to sell anything due to the economy and I feel for those that have. Great coins can always be repurchased when a individual's financial situation improves, but it still must be a tough decision to make. Family comes first though, and I would easily sell if required.

jdimmick

I have been getting a lot more folks bringing in coins to sell over the counter, some nearly scrape up anything trying to get some money to live. I am still buying as I have too to keep the business going. But buying prices I have had to lower in order to re-sale in current market conditions.

TwoSides2aCoin

<< <i>I have been getting a lot more folks bringing in coins to sell over the counter, some nearly scrape up anything trying to get some money to live. I am still buying as I have too to keep the business going. But buying prices I have had to lower in order to re-sale in current market conditions. >>




That's a relief to see after reading what "keets'' has gone through in another thread.

topstuf

<< <i>

<< <i>I've actually increased my purchases due to the lower prices. >>




The wild part is... I don't see any of the middle of the road stuff. It's all disappeared.

Steve >>



Bingo! The TRUE "collector" coins have NEVER been around in any quantity. True, original XF-AUs are TOUGH coins. No vig for the "placement houses" and no room for Coin Vault.

MOST of the detail at a FRACTION of the "action."