@shorecoll said:
It's always good advice to keep the best and sell the rest, but when I look at the little innocent things in their boxes and they start talking to me, it's hard to send them off into the dark unknown where I don't know if other people will treat them properly. Your coins talk to you, right? It's not just me?
My coins talk to me too. Sometimes what they say is serene, reassuring.
Other times, well....Idiot! Ha, you're buried in me! Like the scratch you missed? Look at me--I'm turning!
Member: EAC, NBS, C4, CWTS, ANA
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
As mentioned there is no one size fits all answer for this. Some will need to raise some cash either now or in the future. One way to prepare is to slash now on non essentials. I’m not a big fan of breaking contracts so we started on the “others” for now.
For example we have two cars. One is more then enough now and for the foreseeable future so we canceled full insurance on one of the cars. Suspended the satellite radio on that car. The other car we got a 2/3 reduced rate as that contract was up this month. There are lots of stuff you can pare back on
m
Walker Proof Digital Album 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......
@chesterb said:
It's April 4, 2020 and, in many ways, I am lucky that I still have my job with a record 6.6M filing unemployment last week but I am fearful of the economy and impact unemployment (and general consumer sentiment) will have on many industries. No one really knows the long term effects over the next few years. I have some options to sell some of the more valuable coins in my collection to free up cash and to either save the money or pay down debt. It's amazing how quickly my financial outlook changed from overall exuberance to thoughts on this potentially being a Great Depression 2.0.
I love my collection but I am leaning towards selling just because I don't want to be in a worse position later on down the road. I'm sure others feel the same way and, if so, you're not alone!
Nothing more to say on this topic other than I'm scared right now!
It's April 6, 2020 and I'm still scared! I appreciate everyone's responses. I understand the "do what you can to sleep better" argument. It's not easy though. I like my collection and they speak to me too!
For those dealers out there, how is the overall state of the coin market right now?
For those dealers out there, how is the overall state of the coin market right now?
Honestly, I'm not sure. But as far as I can tell, and with the caveat that there are always exceptions to any generalization, anything that's bullion related is on fire, anything that's not too expensive is reasonably saleable at or near the pre-virus levels, and big coins are hit or miss.
As for my own business, most of my usual sources are mostly "taking a break", so things are slow for me. But everything that I am getting is selling pretty easily, so I can't complain!
Andy Lustig
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Comments
My coins talk to me too. Sometimes what they say is serene, reassuring.
Other times, well....Idiot! Ha, you're buried in me! Like the scratch you missed? Look at me--I'm turning!
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
As mentioned there is no one size fits all answer for this. Some will need to raise some cash either now or in the future. One way to prepare is to slash now on non essentials. I’m not a big fan of breaking contracts so we started on the “others” for now.
For example we have two cars. One is more then enough now and for the foreseeable future so we canceled full insurance on one of the cars. Suspended the satellite radio on that car. The other car we got a 2/3 reduced rate as that contract was up this month. There are lots of stuff you can pare back on
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......
It's April 6, 2020 and I'm still scared! I appreciate everyone's responses. I understand the "do what you can to sleep better" argument. It's not easy though. I like my collection and they speak to me too!
For those dealers out there, how is the overall state of the coin market right now?
FWIW> @chesterb said:
Honestly, I'm not sure. But as far as I can tell, and with the caveat that there are always exceptions to any generalization, anything that's bullion related is on fire, anything that's not too expensive is reasonably saleable at or near the pre-virus levels, and big coins are hit or miss.
As for my own business, most of my usual sources are mostly "taking a break", so things are slow for me. But everything that I am getting is selling pretty easily, so I can't complain!
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.