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Do foreign exchange fluctuations influence the prices you're willing to pay for coins?

For example, if you're living in the USA and interested in bidding on a British coin, and if the British Pound is up 20% against the Dollar, will you shrug your shoulders and up your dollar bid by 20%? Obviously, you're not likely to win the coin if you don't adjust to the market.
Andy Lustig

Doggedly collecting coins of the Central American Republic.

Visit the Society of US Pattern Collectors at USPatterns.com.

Comments

  • ajaanajaan Posts: 17,075 ✭✭✭✭✭
    Yes. I have a set price in US dollars that I'm willing to pay. An increase in exchange rate just means I'll probably buy less coins from that country. Economic reality in my case.

    DPOTD-3
    'Emancipate yourselves from mental slavery'

    CU #3245 B.N.A. #428


    Don
  • SaorAlbaSaorAlba Posts: 7,466 ✭✭✭✭✭
    Uh, I cringed when I bought a coin when the pound was about $1.80 a couple of years ago. But a coin I had to have, and when it is something you really want, price is no object.
    In memory of my kitty Seryozha 14.2.1996 ~ 13.9.2016 and Shadow 3.4.2015 - 16.4.21
  • wybritwybrit Posts: 6,952 ✭✭✭
    I agree with Saor as well. However, usually that is a good time to sell.
    Former owner, Cambridge Gate collection.
  • pruebaspruebas Posts: 4,302 ✭✭✭✭✭
    The same coin can be valued differently in two different markets. If one wants the coin, one must bid with local custom. For me, foreign exchange rate fluctuation simply affect the amount of regret for overpaying for said coins (or not).

    I bought several medals from European auctions that I thought I overpaid for at the time (bidding excitement), but later found I got them cheapy from the perspective of their home market.
  • bidaskbidask Posts: 13,834 ✭✭✭✭✭
    no...I think it evens out over the long term....sometimes I pay more, sometimes I pay less....
    I manage money. I earn money. I save money .
    I give away money. I collect money.
    I don’t love money . I do love the Lord God.




  • SaorAlbaSaorAlba Posts: 7,466 ✭✭✭✭✭
    Some of the Scottish I buy are near unique coins that don't come up for sale very often - I have three of them that are less than five known examples. With those it is not how much is it, but rather how much do I write my cheque for. I buy of course a lot from Britain. It does even out, because when the sterling took a tumble I bought lots of later English and British materiel including banknotes. So yes, it does all even out in the mix. Besides, I am a collector, not an investor- so money is not the object.
    In memory of my kitty Seryozha 14.2.1996 ~ 13.9.2016 and Shadow 3.4.2015 - 16.4.21
  • JCMhoustonJCMhouston Posts: 5,306 ✭✭✭
    For common coins yes, they'll show up sometime in the future. For rare things no, I pay no attention to the exchange rate and bid what I can to try to win it.
  • wildjagwildjag Posts: 1,335 ✭✭✭
    I am constantly overbid on the German auctions, due to the weakness of the dollar vs euro. Very hard to compete and you risk overpaying.
  • SYRACUSIANSYRACUSIAN Posts: 6,445 ✭✭✭✭


    << <i>Yes. I have a set price in US dollars that I'm willing to pay. An increase in exchange rate just means I'll probably buy less coins from that country. Economic reality in my case. >>



    In other words, from all other countries except China:
    The dollar's abrupt decline has been 12%-14% against most major currencies (euro, yen, Brazilian real etc) since June.The basket of currencies does not include the remnimbi, which has also declined as a consequence to its link to the dollar.

    Even as Washington chides Beijing for the remnimbi, critics accuse the US and other rich nations of waging an international currency war that harks to the protectionist policies of the 1930s, when nations looked out for themselves, rather than working together. Everyone in global markets is now expecting another round of so called quantitative easing* by the United States. In the next few weeks, the Fed is expected to inject vast sums of money into the economy, in another attempt to spur growth.

    *quantitative easing: the creation of money by a central bank to purchase assets, thus increasing liquidity.


    (from the NYT article by Graham Bowley: "As the dollar declines, it's each country for itself")


    In answering Mr Eureka's OP, of course yes. For those with the necessary cash flow, it's an excellent time for purchases,and for those without, a bad time for selling in USD.
    Dimitri



    myEbay



    DPOTD 3
  • HussuloHussulo Posts: 2,953 ✭✭✭
    Yes and no. I was happy when the Pound was strong against the dollar a few years back. Gold prices weren't as high either so I was buying and winning more coins. I tend to be able to win less and bid less nowadays. I still go in high if its a coin I REALLY want though.



  • Silvereagle82Silvereagle82 Posts: 1,219 ✭✭✭
    Sometimes. I always think of it in conversion to $$ and bid accordingly. The Euro vs the $$ has been strong for several years.
  • SaorAlbaSaorAlba Posts: 7,466 ✭✭✭✭✭
    Right now I want something on a London coin dealer's website, but at £3500 and times 1.6 it just bites me wallet ta much.
    In memory of my kitty Seryozha 14.2.1996 ~ 13.9.2016 and Shadow 3.4.2015 - 16.4.21
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