What are your plans for the impending coin market sell-off?

RYK · May 6, 2006 8:46AM

I am not sure whether it will be next month, next year, or next decade, but certainly within one of those time frames, there will be a correction to the current bull market in coins. Are you doing anything in particular now in preparation? Are there certain coins or types of coins that you are avoiding or will avoid in the forseeable future? Are you selling coins now (or do you plan to sell coins when you see certain signs of doom)?

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relayer · May 6, 2006 8:47AM

I'm going to beat the rush and am selling everthing but my core collection.

PerryHall · May 6, 2006 8:48AM

I'll be there to buy up all the bargains.

curly · May 6, 2006 8:49AM

It doesn't matter what the investors do.....I'm gonna keep on collecting. If I can afford it, I buy it, if I can't afford it, I get over it.

OKbustchaser · May 6, 2006 8:50AM

No, no, and no...I really couldn't care less about a "market correction".

Other than it might bring a few more coins back into my reach.

Russ · May 6, 2006 8:50AM

<< I'm going to beat the rush and am selling everthing but my core collection. >>

I already did that. For example, I sold off over 70 rolls of 1964 Kennedys back when silver was about $4 an ounce.

Russ, NCNE

Shamika · May 6, 2006 8:51AM

I'm a collector. If the market collapses, this just means better coins at cheaper prices for me.

MrKelso · May 6, 2006 8:59AM

Sell off?

When did MS63 Morgans become priced so high that they are out of reach to the little guy?

When that happens then i say HEAD FOR THE HILLS!!!!!

lkenefic · May 6, 2006 9:02AM

<< I'm going to beat the rush and am selling everthing but my core collection. >>

Same here... I'm keeping my best stuff and getting rid of the chaff as it were. Decent quality Large Cents are getting harder to find period, so I've kept my best pieces [VF or better with a few exceptions]. I'm keeping my Indian Head Cents mainly for sentimental reasons...OK, I'm a sap for certain things [quite a few of these I got from my grandfather]. I've curtailed upgrades to my 1909-1940 & 1941-1958 Lincoln Collections for the time being. As silver flirts with the $15/oz mark I've sold off most of my low grade 90% halfs and have purchased harder date Morgan Dollars... 1892-S, 1892-CC, etc..

Who knows...maybe I should sell it all and purchase pork bellies...

Leo

DeepCoin · May 6, 2006 9:06AM

I am realigning my type collection to pull back from Uncs to AU / XF. This is more about being able to go buy more coins as I am a collector, not an investor. The other thing is that if you have coins worth $100 instead of $1600 you have no issues with keeping your collection in your office or home. I never want to go to the bank to see my coins. My risk is vastly reduced this way and I can still enjoy the hobby. Just on collectors view on changing perspective of his collection.

LindeDad · May 6, 2006 9:06AM

Load the guns and lock the doors!!!!!

TommyType · May 6, 2006 9:06AM

I read two message boards on the internet. One is this one about the hobby of collecting coins....the other is a stock/bond market investment chat.

I prefer to keep the two concepts separate. I'll stress about whether to put more or less in international stock. I'll stress about wondering if a correction will come to the US market. I'll stress about interest rate rises by the FED.

I don't give a rat's pattootie about the coin "market". It's just for fun!!!!

dizzyfoxx · May 6, 2006 9:09AM

I think I'll be holding on to mine... Bull market times or Bear market times, I like to think of my collection as "one-of-a-kind" treasures that simply cannot be easily replaced. That said, the market can drop like a stone and I'll still enjoy my collection for what it is.

charley · May 6, 2006 9:30AM

RYK, are you selling all Gold coins at this time, before the "market correction"? ( I confess to not having the slightest understanding of what a " market correction" is or is not). In light of your interesting phrasing 0f your question, it follows logically that waiting is to the detriment of the COLLECTOR holding same. Respectfully, John Curlis

beartracks42 · May 6, 2006 9:33AM

It doesn't matter what the investors do.....I'm gonna keep on collecting. If I can afford it, I buy it, if I can't afford it, I get over it.

scher · May 6, 2006 9:35AM

Im gonna buy and keep buying thru it...figure I have a cycle or 2 left in me..Im not even 50 yet...but it will be a hell of a collection when I do sell..
Bruce Scher

saintguru · May 6, 2006 9:37AM

I'll mope arouns saying "I shoulda, I shoulda" but I'll do nothing and watch them rise in the next wave up. I have 14 years before I need to make a potential decision, so anything between now and then can happen.

I will consider selling if the coins I hold go up another 33% in this run, but I'm not counting the days. It could happen, though.

roadrunner · May 6, 2006 10:44AM

My intentions would be too move into areas that have not yet experienced crazy price increases, tend to be collector based, and rare enough so that they fall far less than the general market. Then again I'm not sure if there is such a thing unless you go into peripheral areas like patterns, early circs, 1794 dollars, chain cents,
colonials, etc. The thought of trading everything in one fell swoop for 1-10 nice coins has me thinking also..........hmmmm.

roadrunner

CharlieB · May 6, 2006 10:55AM

My whole collection is going to be up for grabs at my yard sale tomorrow.

Barndog · May 6, 2006 11:01AM

I could not care less about where the market (money) is headed. I'm going to keep plugging away on half dimes in better circulated grades.

Elcontador · May 6, 2006 11:04AM

As I see it, if you have really nice coins, these are the ones people are buying for IMO stupid money right now. Unless you're strapped for cash, I'd hold onto them, unless they are not the core of your collection.

However, if you want to unload mistakes, ie., marginal for the grade, overbought coins, etc., many of these coins are not bringing strong money, or are not meeting reserve at current auctions.

I'm not doing much of anything now. My main focus is not to IMO pay too much $ for a nice coin, not to get into a pi$$ing contest over an auction coin, etc. If that means I don't buy anything, or get outbid at auctions, so be it.

carl · May 6, 2006 11:05AM

I agree that this latest coin collecting craze will come to an end in the next 100 years or maybe 150 years. Not sure which but when it happens I'll let you know then what my plans are.
Sort of reminds me of the people that worry about the sun burning out in 5 billion years.

JrGMan2004 · May 6, 2006 11:05AM

Hold and buy as many R.5+ Capped Bust Half-Dimes as I can afford and get my hands on...

Cladiator · May 6, 2006 11:18AM

Market makes no difference to me. The half dimes that are in my core collection will be there for a long time, God willing. Would actually be nice not having to pay so much for new coins.

Murphy · May 6, 2006 11:38AM

I'll continue to invest in ugly pennies. They're not as susceptible to market swings as the perty gold & silver coins.

Pushkin · May 6, 2006 11:54AM

<< What are your plans for the impending coin market sell-off? >>

We're moving deep into the Maine wilderness with our cats and a few favorite coins. We're building a bomb shelter there protected by anti-aircraft batteries, land mines and swarms of giant blood sucking mosquitoes. I'm looking forward to a diet of wild radishes, tree bark and grubs. We'll come back to civilization when the next boom starts - unless the bird flu wipes everyone out first.

HonoluluDude · May 6, 2006 12:00PM

What sell off? Doesn't it have to be considered a bubble first before it "sells off"?

jabba · May 6, 2006 12:03PM

I will be ready to buy when the end come's

Stuart · May 6, 2006 12:04PM

I always look forward to being able to purchase quality coins for lower prices.

Coindexter · May 6, 2006 12:10PM

By the time I got in to collecting the market had just begun its rocket ride through the stratoshpere. I look forward to a "correction" so I can buy some of the things that have always been beyond my reach.

<< I already did that. For example, I sold off over 70 rolls of 1964 Kennedys back when silver was about $4 an ounce. >>

- Russ

Ouch. No matter. Odds are you made a profit regardless.

goldisgood · May 6, 2006 1:05PM

No plans yet but I'll be dumping my common stuff if things get really heated. In the meantime I'll keep looking for real rarities.

coinlieutenant · May 6, 2006 1:21PM

My collection goes through pruning with or without a bull market. It will continue. My problem is sometimes trimming too closely.

RYK · May 6, 2006 2:05PM

I have trimmed my collection to the core (with a few exceptions). This is probably a good strategy for any market. The coins that remain are those that I am happy holding through thick and thin. I continue to buy "keepers" and will do so in any market environment.

My intentions would be too move into areas that have not yet experienced crazy price increases...

I like what I like and am not interested in changing my tastes to accomodate "the market". If I cannot have what i want to have at a price in which I feel comfortable, I would prefer to buy nothing at all.

jdsinva · May 6, 2006 2:06PM

<< I am not sure whether it will be next month, next year, or next decade, but certainly within one of those time frames, there will be a correction to the current bull market in coins. Are you doing anything in particular now in preparation? Are there certain coins or types of coins that you are avoiding or will avoid in the forseeable future? Are you selling coins now (or do you plan to sell coins when you see certain signs of doom)?

This thread is sponsored by 291fifth.

>>

This sounds more like an earthquake prediction "I don't know when but there will be one". . .

RYK · May 6, 2006 2:17PM

This sounds more like an earthquake prediction "I don't know when but there will be one". . .

I was not attempting to predict anything here, but there are several threads each week forecasting the end of the bull market in coins. I thought that the exercise of what to do in preparation for the next decline in coin prices would be more fruitful than trying to actually predict it--something that few if any of us would likely achieve with any accuracy.

Bear · May 6, 2006 2:19PM

Selling off all my fringe coins

slimming down to my core collection

Weeding out all weak coins for the grade

Intend to hunker down and ride out the storm
that is to come.

mozin · May 6, 2006 2:26PM

I can't believe there will be a sell-off. By the time the market starts dropping, it will be too late to dump collections.

For me, I will simply bid a little less on each auction lot, and win a few more.

I only sell parts of my collection whenever I feel I don't any longer want it. I suppose I should sell some of my gold coins since the market is so high, but then, why bother? When my eyes go bad, or my doctor gives me a short time to live, my entire collection will be sold.

fishcooker · May 6, 2006 3:31PM

When something doubles in price and I own 2 of 'em, I like to sell one and keep the other 'free' one. Free stuff is cool! Ya'll can ride the market down if you want to....

Bochiman · May 6, 2006 3:34PM

Keep what I can't sell, give it to my son.
Keep what I could sell, give it to my son.
Buy what I can, that I like, as long as other things don't tank badly as well (ie...jobs, etc).

If the coin market falls, on its own and nothing else falls, then I will be a buyer. If everything else is crumbly, then my money will go to make sure my family is well taken care of before I indulge myself further.

BECOKA · May 6, 2006 4:00PM

I figure that might be the time to buy the one coin I need to finish my collection at half price.

Otherwise since the price of just about everything I am interested in has more than doubled in the last year I am taking a break in the hopes of some major dip before the next bull.

construct · May 6, 2006 4:25PM

Well, there are a few things that I don't think about right now--Indian gold, eagles and double eagles, circ. modern silver, etc.

I'm dollar cost averaging. I am spending the same amount and buying less in areas of the market that haven't heated up so much. Since I'm only 47 years old, I'm planning to live through the next market slump and sell when it heats up again and I'm an older an shrewder man.

TwoSides2aCoin · May 6, 2006 5:02PM

I'll be winning because it's what I like to do

michael · May 6, 2006 5:12PM

My intentions would be too move into areas that have not yet experienced crazy price increases, tend to be collector based, and rare enough so that they fall far less than the general market.

go into peripheral areas like patterns, early circs, 1794 dollars, chain cents,
colonials, seated and barber proof material sexy really early proof copins pre 1835 etc. monster colored gem mintstate and proof type

The thought of trading everything in one fell swoop for 1-10 nice coins has me thinking also..........hmmmm.

As I see it, if you have really nice coins, these are the ones people are buying for IMO stupid money right now. Unless you're strapped for cash, I'd hold onto them, unless they are not the core of your collection.

What are your plans for the impending coin market sell-off?

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