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How are your coin buying habits going to change when Gas hits $7.00 a gallon??
Tiny
Posts: 2,598
I know mine will certainly slow down as I think a lot of ours will. What happens if gas goes
higher than 7 Bucks, will we be selling our coins to pay for things?
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Nothing will change (maybe fares will go up, but that's it)
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Ron
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Attendance would plummet.
I can think of no good reason for fuel to hit 7 bucks a gollon, natural gas is tanking and.... 7 bucks a gallon will really take a bite out of my renters that are barely making ends meet now. It will just dig them a deeper hole, they will miss car insurance payments, fail to inspect vehicles, let the tags expire and then end up with 1000 dollars worth of tickets they can not pay.
It will not affect my gun, coin or collectible budget at all, i will still buy what i think i need and want within reason. My collection budget is only affected by the amount uncle sam demands out of me.
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Reminds me of the sky is falling thing.
But heating oil might!
Our beloved President will courageously stand up to "Big Oil" and champion the cause of every American to have the price at the pump for gas never climb above $6.99. However, if the price does reach $7.00 per gallon, we all know it is W's fault.
Ron
Lance.
My coin buying will only be affected by how comfortable I feel about this country, not by prices on collector coins.
To purchase bullion one would hope.
<< <i>As a guy who either walks or take public transportation...
Nothing will change (maybe fares will go up, but that's it) >>
Think again friend.
If automotive gasoline goes up, diesal will follow.
Diesal is whats used to stock grocery store shelves and dang near everything else.
Diesal is used by FeDex and UPS. Gasoline is used by the USPS. Shipping costs will most certainly skyrocket to cover the extra expenses.
IF gasoline goes up to $7.00 a gallon, the overall economy is going to hurt real bad and IF the oil companies post MORE record setting profits, I will email my congressman, senator, and president on a daily basis asking for Federal Regulations.
Gasoline is the lifeblood of the economy and regardless of what some city folks believe there are millions of folks that rely upon gasoline to put food on their tables and paychecks in their pockets.
This isn't Europe where another country is within hours and a big metropolitan area is just 15 minutes away. The United States of America is spread across the entire continent and was built on the back of gasoline and long commutes. Gasoline to most American families is as much a requirement as electricity and natural gas. Its danged near a public utility to feeds local, country, state and national needs.
The name is LEE!
<< <i>Well then i would buy a electric car
We will not run out of any fossil fuels anytime in any of our lifetimes.
There have been predictions by many folks for the last 150+ years that the World would run out of coal or run out of oil in the next 10-50 years. But it didn't happen and those predictions did not come true. And it will not happen. The predictions of doom always fail to account for new finds of fuels which future technology lets us discover, better use of existing finds because of better technology and more efficient use of existing fuels in the future.
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<< <i>Thankfully my 10 minute commute doesnt take much gas. >>
Probably not but the groceries you feed your family with are still reliant upon fuel to get to the grocery shelves.
Food suppliers will either have to absorb the costs or raise prices to cover the additional overhead.
I'm thinking they won't absorb the costs. What do you think?
The name is LEE!
I kept "tips" from my paper route, for a long time. Those quarters and dimes back in those days still had silver in them. "Wow" , I thought about how my dad would look for a bargain on a gallon of gas and I remembered those words. Fast forward to the Bush years and the Iraq war. I told my daughters then : " See this quarter ? Now this silver quarter has gone up in value and it will take the value of 2 silver quarters to purchase a gallon of gas". The girls weren't impressed. ( I was paying for the gas). Now gas is what ? $3.75 per gallon and going up ? I can get almost 2 gallons for that silver quarter.
My daughter called the other day to say it cost her $75. to fill up her tank. I said, "oh ? That's like 11 silver quarters"
One of these days they might act on what they hear, but I doubt it.
``https://ebay.us/m/KxolR5
I figure higher gas prices will move some people back to buying online.
<< <i>"sold his entire gold collection"
To purchase bullion one would hope. >>
actually twas a beach house.
<< <i>
<< <i>Well then i would buy a electric car
We will not run out of any fossil fuels anytime in any of our lifetimes.
There have been predictions by many folks for the last 150+ years that the World would run out of coal or run out of oil in the next 10-50 years. But it didn't happen and those predictions did not come true. And it will not happen. The predictions of doom always fail to account for new finds of fuels which future technology lets us discover, better use of existing finds because of better technology and more efficient use of existing fuels in the future. >>
We should be thankful that the overpopulated third world countries aren't as adept at squandering it as we are.
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<< <i>
<< <i>Well then i would buy a electric car
Where do you think electricity comes from? In most cases an electric car burns more fossil fuel than a gas powered car. To power an electric car you generate electricity in a power plant at about 30 to 40% efficiency. 80% of us electricity is generated with fossil fuel. Transmit it to your location. charge your batteries, then power electric motors. After all those losses you're down to about 10 to 20% efficiency. So you have to have 5x to 10x as much fossil energy as you deliver to the axles of an electric car. Physics always wins. --Jerry
Amen to that, from a guy with oil wells!
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The price of gasoline will probably not affect my coin budget yet, but if it gets to close to $10 as it is in Europe, it will put on a bite.
<< <i>Well then i would buy a electric car
I would buy an electric car now if somebody would get a decent battery for them on the market.
In the meantime I will keep driving a TDI Jetta.
And no, it would not deter me from buying coins. I mostly walk. I spend like 30-40 dollars a month right now on gas. I am not a commuter. I love where I live and there's so much beauty here that I don't need to go far for a vacation. A bike ride away and I am in paradise.
That would lead me to believe that it would be one of two things
Short hike in price due to a oil related issue.
Long term rise in price in, that case we would likely see most commodities rise a similar amount in the same time.
In the second scenario we would see increases in the already growing disparity from the rich to the poor.
How would that affect coins?
The increased selling of lower end common items(bulk silver/gold) with the prices of the top end coins rising as those with cash are looking to reduce cash holdings.
So in summery as the world wide econ moves away from the middle class so would the coin market.
More and more “low” end items will be sold for melt as less and less people are willing to buy those items for more then melt, the top % of coins will go up in value as the wealthy look to invest.
I don't think oil will ever run out. In fact, we have larger oil reserves in the United States than the entire Middle East combined. The oil in America is in solid form i.e sand, rock. The US gov't can bankrupt the Middle East overnight if it decides to tap into its own oil reserves.
As far as coins go, those of us that have gold & silver coins will continue to reap profits if oil goes up.
Just my two cents.
<< <i>Thank you everyone who cast a vote for obama!! >>
What does he have to do with the price of oil?
Rhetorical question, the answer is nothing at all.
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