Why stop there? Why not ask what will we do when gas hits $10 dollars a gallon... What about $15?
Here's your answer to all... We will all drive less. If we MUST drive (Going to work, buying food, coins etc) guess what, we'll spend less on other things like Food and coins...
Knock on my granite desk top, I hope it does hit $7 a gallon. Maybe, just maybe there will then be a serious drive to develop alternative energy that is USA produced. Then we can stop funding terrorist supporting governments around the world.
Tir nam beann, nan gleann, s'nan gaisgeach ~ Saorstat Albanaich a nis!
Nice link Hussolo , it reminds me of the dude from around here somewhere in Pa , the actually put him on the telly. He converted his pick up truck to run on manure somehow. I think a good portion of the flatbed area was like a boiler or burner of sorts. People say you smell him before you see him , don't doubt that.
<< <i>What would happen to the attendance at the major coin shows if gas hits $7.
Attendance would plummet. >>
Makes little difference by me. Myself and many I know keep away from large shows since the prices of coins there are high already. The many, many small coin shows by me are less than 15 miles so no big thing for gas prices.
Bingo! Higher gas prices = Less disposable income = Fewer coin/bullion purchases.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
$7 gas will have little impact on my coin buying. However, I expect PM's will be a lot more pricey.
Having a home office means no commuting. 90% of my annual mileage is for business trips. That gives me 25,000+ miles I can treat as a business expense. My 2006 Ford Focus is paid off and still gets 38 mph highway. The 55.5 cents per mile IRS allowance is generous and allows me to shelter a nice chunk of income. When gas hits $7 that allowance will likely balloon to $1.00 or more per mile. It will pay me to drive even more.
Bingo! Higher gas prices = Less disposable income = Fewer coin/bullion purchases. >>
A fair percentage here have said they don't even use a car or it's minimal at best , so it's not an open and shut scenario at all. In fact those paying high gas prices to maintain the vehicle might be the ones selling and at a lesser price as the moneys needed.
At $7 per gallon, all sorts of new energy technologies become attractive. There will be a move away from traditional oil once it's economically reasonable to do so. The transition period will be interesting, but somehow the level of doom and gloom realized seems to fall short of Hollywood's expectations.
If people get nervous and start selling stuff it might make for a great buying opporunity.
edited to really horrible sentence structure fix, spellang, and clarity.
American Numismatic Association Governor 2023 to 2025 - My posts reflect my own thoughts and are not those of the ANA.My Numismatics with Kenny Twitter Page
<< <i>At $7.00 a gallon, I'll be riding my bike to the coin shop to buy Seated material. At least Seated coins will still have some worth in 10 years. >>
So you'll be a seated coin buyer or do you ride standing up?
I'm not at all worried. Mr. President will mandate the Oil Companies to provide Free Gas, just as he has required the Insurance Companies to cover Contraception.
Then, I'll be able to acquire even more coins....
"If there are no dogs in Heaven, then when I die I want to go where they went." Will Rogers
If the gas prices hit that high the economy will fall harder than ever. If things are they way they are still. I feel like the gas hike per gallon a few years ago helped start our whole recession. The day it hits 7 dollars a gallon the government and our whole world will change. We will stop buying oil from other countries most likely and we will rely more heavily on our own resources. Along with it jobs will rapidly return to the US. My coin buying habits have already changed and I'm sure will continue to do so from year to year in comparison to 4 or 5 years ago.
Winner of the "You Suck!" award March 17, 2010 by LanLord, doh, 123cents and Bear.
Comments
Here's your answer to all... We will all drive less. If we MUST drive (Going to work, buying food, coins etc) guess what, we'll spend less on other things like Food and coins...
(I'm so sick of hearing the dooms day hype).
Ray
Proud recipient of Y.S. Award on 07/26/08.
FS:1938-S US PCGS MS66 nickel
https://photos.app.goo.gl/oiJzk63mxvdY77EeA
http://www.youtube.com/watch?v=wjeM2IBhtlc&feature=related
``https://ebay.us/m/KxolR5
cautious and selective
in what I buy !!!
<< <i>What would happen to the attendance at the major coin shows if gas hits $7.
Attendance would plummet. >>
Makes little difference by me. Myself and many I know keep away from large shows since the prices of coins there are high already. The many, many small coin shows by me are less than 15 miles so no big thing for gas prices.
<< <i>Less coins/lessgas/less money >>
Bingo! Higher gas prices = Less disposable income = Fewer coin/bullion purchases.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Having a home office means no commuting. 90% of my annual mileage is for business trips. That gives me 25,000+ miles I can treat as a business expense. My 2006 Ford Focus is paid off and still gets 38 mph highway. The 55.5 cents per mile IRS allowance is generous and allows me to shelter a nice chunk of income. When gas hits $7 that allowance will likely balloon to $1.00 or more per mile. It will pay me to drive even more.
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
<< <i>
<< <i>Less coins/lessgas/less money >>
Bingo! Higher gas prices = Less disposable income = Fewer coin/bullion purchases. >>
A fair percentage here have said they don't even use a car or it's minimal at best , so it's not an open and shut scenario at all. In fact those paying high gas prices to maintain the vehicle might be the ones selling and at a lesser price as the moneys needed.
If people get nervous and start selling stuff it might make for a great buying opporunity.
edited to really horrible sentence structure fix, spellang, and clarity.
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ANA Life Member & Volunteer District Representative
2019 ANA Young Numismatist of the Year
Doing my best to introduce Young Numismatists and Young Adults into the hobby.
<< <i>At $7.00 a gallon, I'll be riding my bike to the coin shop to buy Seated material. At least Seated coins will still have some worth in 10 years.
So you'll be a seated coin buyer or do you ride standing up?
<< <i>$7 gas will have little impact on my coin buying. However, I expect PM's will be a lot more pricey. >>
That's when I will sell some off probably.
60 years into this hobby and I'm still working on my Lincoln set!
<< <i>It will never happen. I never got close to $5 back when that was predicted.
Reminds me of the sky is falling thing. >>
Already over 5 in sou. California.
Then, I'll be able to acquire even more coins....