Collectors: Are you buying, selling or holding?
SanctionII
Posts: 12,603 ✭✭✭✭✭
Just curious.
Last Friday I made a purchase at a So. Cal. LCS, gave a deposit and sent the balance owed yesterday.
Today I am of two minds (Why!!!!!; and Why Not!!!!) about the purchase.
When I receive the purchased item and have it in hand I expect that Why Not!!!! will prevail.
How about you?
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Holding coins/tokens/medals. Actively buying out-of-print numismatic literature---I have a feeling that I will have some time to do a lot of reading during the next 4 months.
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
Last weekend I bought at a small show and also won a nice coin at GreatCollections. No regrets.
I currently feel like holding steady for a bit and see how the upcoming couple of weeks shake out.
Cautiously optimistic.
"If I say something in the woods and my wife isn't there to hear it.....am I still wrong?"
My Washington Quarter Registry set...in progress
I’m on lock down
My checkbook is on lock down
My coins and medals are on lock down
m
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......
Holding.
Absolutely buying - can't wait for the Central States (well, now Dallas) auction - lots of good stuff!
Member ANA, SPMC, SCNA, FUN, CONECA
Holding 100%
I won several auctions last Sunday at DLRC. My plan is to hold at this point unless a great opportunity shows up.
Coins... only if a 100% cherrypick.
Sell to create a little cash flow to pay for grading fees... stuff I was tired of moving around and want gone anyway.
Debating on whether to pull the trigger on a minty medium format camera system or a Minelab Excal 2 metal detector.
Gonna stay busy de-cluttering my life, working on taxes, exercising, and getting healthy.
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Holding tight also. But...if something finds "me"...well? Take care...CC
I’m not selling, but I’m not buying. Hoarding cash just in case my job is threatened.
Which MF system are you considering? Phase One? Fuji GFX? Etc?
I got a Mamiya RB 67 system with 3 Lenes (may put on craigs list) and a Goldbug Metal detector
If something comes up that is a good fit for my collection I would probably still buy... but I might be more picky and looking for a better deal than usual. Not selling anything.
Instagram
Years ago, I had the RB and it was dreamy.
Spent around $300 for a beat up 3 lens setup.
It's a boat anchor... but awesome for... well, a boat anchor.
Looking at a Bronica ETRsi.
Problem is, the darkroom I had planned to build never got built and I have since rented that space.
I already have the new Minelab Equinox and just prefer a dumber machine.
Just give me the buttons and water proofing.
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Not selling, not buying
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Bronica ETRsi
I have owned almost every film system made.
Should have kept my Hasselblad 500(?)
I have dabbled in Large format as well.
What I really miss are the days you could buy a Leica M3 for $600 and a 50mm Summicron for $600...
Leica... literally worth it's weight in gold.
Got a lot of coins to move, some silver, etc... already getting stir crazy.
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Very little spending unless it's a piece I've been looking for for a very long time, and nothing that expesnive.
Mostly it's lock down, because the pieces I would like buy are seldom available.
I'm not doing anything but hunkering down for the long term at this point.
I'm only interested in trading at this point
Postage is the only discretionary expense I am comfortable incurring in light of the current unknown
Correction. Postage and Coffee
Off to BST!
"Inspiration exists, but it has to find you working" Pablo Picasso
Holding and adding a coin or two a year,
But it's been like that for 9 years so SNAFU 😉
Liberty: Parent of Science & Industry
I wanted to look into starting a raw Franklin collection. I am hesitant to visit my LCS if they are awash in bullion seekers.
Holding my jewels tightly
That’s someone else’s job at my house
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......
When Palladium spiked up over $2000, I went to the bank to pick which palladium proof I wanted to sell (I had bought the 2018 and 2019 versions). My wife went with me (her first time to the safe deposit box), and when she saw the other stuff I had in there she said "why don't you sell some of that too?" So I ended up selling to APMEX a bunch of the accumulated gold I had in there. As of now it was the right decision as prices have come down, especially Palladium of course. But the better part was making Mama happy. Always a good call................
• adding back the Doug Winter e-mail
“Oh, great, you’re thinking, yet another email from someone discussing The Virus. I’m personally sick of reading them and I’ve gotten them from sources as diverse as luxury hotels to my local Thai joint.
But I’d like to share some thoughts with you about the trying times we live in.
The first is this virus is serious. If you are over 60, have a compromised immune system, or other health issues, you need to be self-quarantined. This means virtually no trips out of your house except maybe to walk the dog or to hunt for fresh produce; you should be extra careful with what you eat right now. If you can find fruit and veggies, buy a few days’ worth at a time and eat them at least twice a day! Please, take extra good care of yourself right now. (Jenna is currently quarantined on her small urban farmstead.)
The second is that this is going to severely impact every facet of our lives for at least 45 days, and likely much longer. Every day news of more closures and ambiguous reopen dates flood our inboxes, and we too have watched favorite stores lay off their staff.
I feel qualified to discuss the potential impact on the coin market; I’ll leave the impact on other aspects of your life to people smarter than me…
It’s a safe bet that there will be no major shows until June Long Beach, and possibly beyond this. The impact will be quickly felt. For me, this means that I will be buying fewer coins as many of my suppliers sell to me exclusively at shows. You’d think it would be just as easy for them to ship me a box of coins, but it just doesn’t work that way.
My supply chain relies on numerous smaller dealers sending me one, two, or three neat fresh coins whenever they are available. With fewer trips being made, this supply chain takes an immediate hit. I’ll still be buying good coins; probably just not as regularly as in the past (and, by the way, if you have some stuff for sale, now is a great time to offer it to me!)
To minimize potential virus contact, Jenna and I are staggering our hours and locations. This means we aren’t as efficient as usual (without bragging, I feel we are the most efficient duo in the US coin market). If you send us coins to buy, it might take two or three days for one of us to get to your package. We won’t be able to list new coins on the site as quickly, and we won’t be able to mail things out to you with our usual rocket speed. And one last point: there is a chance the planes flying our Express Mail and Fed Ex might be grounded. We’ll worry about this when and if it happens, but please keep this in mind.
What will the virus do to the coin market? That’s hard to say. The past week has been decent for us and we’ve spoken with dealers who are still selling coins. But this is a small sample size. The Pogue sale will likely be very strong, but this is also a small sample size. It will take a national coin show to really get an idea of the strength of the market and we won’t see one of these for months. If there is an ANA this summer, my guess it will be spectacular: either spectacularly good, or spectacularly bad.
One other impact you’ll see in the market in the coming months is a severe lack of liquidity among many dealers. Even “name brand” firms will be feeling the pinch. Please be careful who you ship your coins or your check(s) to. And please rest assured that DWN is 100% debt-free, very capable of reinventing itself quickly in a wacky market, and extremely well-capitalized. In other words, we’ve earned your trust and we intend on keeping it.
In closing, remember one of the reasons you’ve chosen to collect coins is because numismatics is really fun and really relaxing. I’m assuming you have a lot more free time today than you did two weeks ago. Can I suggest that you use a little of your free time to become a better collector? Buy some coin books and read them. Go on my site and download articles and blogs in my archive. Call me and ask the questions you always wanted to ask but you were worried I was too busy to answer them. Jenna, Irma, and I are here to make your collecting experience richer and more varied.
We at DWN greatly appreciate each and every one of you and we hope to hear from you in the coming days! Stay safe and be healthy.”
-Doug, Irma, Jenna, and Earl
m
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......
"Are you buying, selling or holding?"
Until supply chain and/or customers disappear, all of the above.
No Way Out: Stimulus and Money Printing Are the Only Path Left
great article by Doug. Look forward to buying and selling more with him in the future.
For now complete lock down. I do not plan to buy anything unless awesome and priced right. My dental offices have been shut for 3 weeks officially but my bank and accountant are telling me 8+ weeks expected. That gets very expensive.
Staff all get 4 more weeks of paid time and then they are done, all vacation used up. When we do open I have had to cancel all summer vacations and fishing trips which will further hurt the economy, but hopefully allow me to make up at least some of the lost income.
Buying what I want.
"Today the crumbs, tomorrow the
loaf. Perhaps someday the whole damn boulangerie." - fictional Jack Rackham
Bought two tough coins today, first in a long time!
Latin American Collection
buy what i like, sell what i don't need
best price coin sale link below (READ CAREFULLY)
https://photos.app.goo.gl/oqym2YtcS7ZAZ73D6
We are on the same exact page. If a coin does come along that is priced well and can sing and dance and take out the trash I might listen
I haven’t left the house in awhile but I’m going to run down to the local coffee shop now to bring some normalcy to my day
m
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......
YES. All the above
A: The year they spend more on their library than their coin collection.
A numismatist is judged more on the content of their library than the content of their cabinet.
+1
A little sell for a little buy
One benefits of being in the food industry is that the ebbs and flows barely impact the business. We are selling everything we can make right now!
Latin American Collection
Heed this sober advise my friends.
Indeed. However, I have been drinking a lot more wine lately. Do as he says, not necessarily as I do.
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
I have been too. Not good.
Be safe....wish we could talk.
I'm locked down indefinitely....no activity in either direction.
Holding the line....
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
Buying. Most of my purchases are from UK dealers and the exchange rate is too good to pass up right now.
No shows until further notice means no new purchases for me as I only buy at shows or coin shops. Right now I am just adding cash to my stock pile for when the shows start up again. I figure I can always use the cash for other things if sh!t really hits the fan.
Stay safe, Donato
Donato's Complete US Type Set ---- Donato's Dansco 7070 Modified Type Set ---- Donato's Basic U.S. Coin Design Set
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We just opened a new stock brokerage account and sent a wire transfer.
Let the day trading begin
I'm standing firm. Things are too volatile right now. Steady your nerves boys and keep your powder dry.
Generally holding. I have been hesitant to pull the trigger on the bigger ticket coins needed for my registry type set. I am prioritizing increasing my cash reserves and shoring up my emergency fund. However, I am still considering smaller ticket items for my secondary sets to satisfy the itch, although as the economy continues to crater even that is beginning to make me uncomfortable.
Nothing is as expensive as free money.
When times are difficult and the future is uncertain IMHO the best thing to do most of the time is nothing. On the other hand if a coin that I have been looking forever for becomes available I would be all over it at the right price.
Good luck!
Same here - but as usual, finding at the right price seems elusive as always....
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