Is the COVID-19 scare causing people to cash in their stashes?
PipestonePete
Posts: 1,957 ✭✭✭✭✭
Picked these up today at one of the local banks. I was told someone brought in a TUB of coins. 36 Ikes of which 14 are Proof issues and two of those are 40%. 3 90% silver halves including a 1951 Franklin. 12 40% silver Kennedys.
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Good find. I don't see people cashing out now, unless they're hurting for $$$ and needing to stock up on toilet paper.
Wow, big gain for you and big loss for the depositor. I suspect it was an inheritance related situation and the depositor had no clue.
It's a hobby business, coins aren't as liquid as straight precious metals and stocks.
Nice!
Don't know about coins but an art dealer friend said he's getting a torrent of calls recently from his customer base wanting to sell art.
I just did
Running to Costco with the C note
"Inspiration exists, but it has to find you working" Pablo Picasso
People are over reacting BIG time!
Sales brisk 1oz silver coins from online store.
I sold a lot of physical gold last week at $1619. Several days I beat myself up as it went straight for $1700. Today I pat myself on the back. Who knows what next week will bring.
mark
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Nice haul at the bank!
I am not even considering selling.... My AU and AG are very happy here. This is a temporary situation, and those who have seen these market swings will hold (some may acquire) because it will be back up in a reasonable time frame. Cheers, RickO
Face value silver, doesn't get much better than that, good for you.
I think Mark is wise it is good to have some cash right now. And by some I mean a really good amount.
prepare for the worst, hope for the best
No Way Out: Stimulus and Money Printing Are the Only Path Left
Some say people are under reacting Big Time!!!
wed and thurs was slow, but bought a sht pile today , from people raising cash
Lot of bills to pay and people are loosing their jobs and saving in fear of the virus. A friend in a nation wide company that deals with traveling told me her company laid off 40% of the staffs and the ones who stayed got a huge pay cut. The manager for a premium cosmetic brand in Terminal 1 JFK airport had complained to me that her sale dropped 70% last month. And I bet it is worst now.
How about the rest of us? I am too afraid to even check my IRA account
Yes. For most people it's always buy at the wrong time and sell at the wrong time. PANIC! PANIC. PANIC! The cooler heads sit back and rake in the dough. Nothing ever changes......just the date on the calendar. Same old same old. Here we go again......
By the way prices on Gold and Silver went today I would say yes.
The average persons "STASH" consists of clad Kennedy Half Dollars and Eisenhower dollars. Many a widow weeps.
Don’t look
I think CoVid 19 a catalyst pushing many sell out. Don’t blame them. Not many people even before this have the money buy a $1500 coin (poster in forum recently displayed) let alone make a weeks check that equals that. Now who is going to buy these expensive coins when lots of jobs dry up / economy tanks. There will be a lot of bankruptcy filings. Don in coin club said “not to worry well if the bill collectors can’t go to work they can’t call or sue me those cards I defaulted on buying coins bullish on market couple years back so can keep my coins. Is show still on - can hardly wait setup.”
Coins will at least trade at or near their basal value.
I am scared this is just the beginning I would sell it all in a heartbeat if get even 95 pct of my cost. It’s shaping up about like one of those air disaster shows I occasionally watch / the intimidating uppity not on the ball pilot, the green first officer afraid to question him, 200 people on board in hurry get home (camera zooms in on passenger oblivious to situation), crew can’t see the runway they supposed to land on due to the weather, they are hurriedly preparing to land (sch pressure from airline), and the message from the tower garbled 1st officer mistakenly sets incorrect course heading towards a mountain they can’t see.
I am pretty confident that If I had to sell my investment grade collector coins(the blue chips) right now in a hurry, I would face a brick wall in trying to unload them. But fortunately, I don't have too. I am not a bullion guy at all, but even with a large price drop, its still easier to get rid of then finding buyers for collector stuff in times like this.
Did Costco have any TP or flats of water on their shelves?
- Jim
seasoned collectors have seen this ride several times already, and the ending is always the same, hold your gold, if you don't have much or many, buy some, because this story has a happy ending
Lucky to find a bank that will even accept the Eisenhowers.
No TP to b found in towns. People will have to do their duty at the gas stations, but wait, someone stole the roll of TP:(
I had a nice numismatic online retail sale last nite so mood not all that bad. Certainly some still buying. Life goes on. Certainly not replacing inventory but trying maintain decent bullion position.
Sold 46 Oz of gold between $1625- $1655 in the past week. Ordered more at $1588., yesterday.
``https://ebay.us/m/KxolR5
Hell, I’m buying. Deals that is. My specialties are already at lows so I just have the lines out, bobbers floating and fresh shiners on the hooks.
There’s so much to be reinforced from all of this nonsense. First, who’s laughing at preppers and savers now? Second, have a job in a field that pretty much has to keep going no matter what. I’m a mechanic. Crap always breaks down. Tires, brakes, oil, etc.... always needs replacing.
Now my brother, no joke, he works at one of those ED clinics. He makes about 50% more than I do however most is commission. For the last month they’ve been dead and nothing looks to be changing. Oh, and his girlfriend who he JUST got a new apartment with, worked for carnival cruise lines. Yup, WORKED. She was laid off yesterday. I hope they get through it. I really do.
But EVERYONE needs to learn that the relative peace this world has enjoyed for many decades can be shattered in an instant. When it comes down to it it’s God, family, firearms, ammo, more ammo, even more ammo, water, food, shelter, tangible assets, and then friends. In that order to me. I thank God at least we have Trump to steady the ship.
"Today the crumbs, tomorrow the
loaf. Perhaps someday the whole damn boulangerie." - fictional Jack Rackham
This like War of the Worlds.....except the virus is invading and wreaking havoc on humans and their institutions rather than aliens..
Yes I think EVERYTHING we thought was worth something is dropping in value.
I wont be paying premiums on numismatic coins like I us too. Prices going lower .....
I give away money. I collect money.
I don’t love money . I do love the Lord God.
I really hope they did not trade in their $43.50 face value in Ikes/Kennedys for 43.5 sheets of toilet paper!
https://www.ebay.com/itm/Toilet-paper-sold-per-square-2-ply-limited-quantity-New-unused/372983571989?hash=item56d78da615:g:MlMAAOSw0vpeaToZ
People who horde toilet paper and water = covidiots
People who horde toilet paper and water = covidiots
Have you ever been without it?
I knew it would happen.
The outdoor hose will work for both
JEEZE LOUISE, now there will be run PI on garden hoses.
My mother used to talk about TP shortages during WW2. Public places were required to have it but a lot went AWOL. Being PG with my older brother it was something of a necessity for her.
I can attest to the fact that being in the bathroom with no TP is, uh, pretty inconvenient.
I knew it would happen.
The only way they'll get my toilet paper is to pry it from my cold dead hands!
Do people really need six months worth though?
Do people really need six months worth though?
Depends, lol.
I knew it would happen.
No Toilet Paper in Kenai Penninsula Alaska for over 2 weeks now. Everything comes up by SLOW BARGE SYSTEM takes about 2 weeks to navagate the Alaskan waters.
Don’t know how long I can last is there a way to save the other side for use later?
A man once told me that during World War II he and his brothers would rip pages out of the phone book at the movie theater and elsewhere
"Inspiration exists, but it has to find you working" Pablo Picasso
Hope the river pirates don't rob the barge.
Can't agree more about the water part. Reminds me of the neighbor lady who called on the telephone because the electricity was out during a storm......... She wanted to know if the phones were down too because her lights wouldn't turn on.
Stranded…..Stranded....STANDED ON THE TOILET BOIL! WHAT DO YA DO WHEN YOUR STRANDED........STRANDED WITHOUT A ROLL!
BE A MAN! USE YOUR HAND!
Edit to add...for you old foggies like me...think the theme song from the old western "Branded" starting Chuck Conners of rifleman fame.
Every time I think of this toilet paper usage I can’t help but think of Yakov Smirnoff and jokes about Soviet Russia. Maybe they can send us some cheap toilet paper?
Ya mean their sandpaper?
When I was over there I would've preferred a brown paper sack over their toilet paper. Ya also had to pay a babushka if ya wanted paper at the airport!
Lol, yes! I was trying to remember some of them.
In Soviet Russia, Waldo finds you
When I was a young child, my grandparents used to keep newspapers and/or a magazine inside their farm's outhouse for the aforementioned use. Rough, but it worked in a pinch.
I suppose a more expensive but numismatic approach would be to use a few AG - G06 $1.00 bills.
- Jim