How can I buy more coins at present prices if my stock portfolio's been demolished?

bidask · July 15, 2008 8:28AM

Or I have to worry about where I keep my bank deposits.

Or if I will have a job in the future.

Or the value of my house.

Hmmmmmmm..

adamlaneus · July 15, 2008 8:31AM

How can I buy more coins if TeleTrade, David Lawrence, Stacks and Heritage don't have any auctions ending today?

Stocks go up and down.
You have less than 100k in the bank.
You have a good trade and are very employable.
You own equity in your house and pay a mortgage on a schedule.

Honestly, some folks are born to worry.

On the other hand, I think my Visa is getting close to being maxxed out. ***PANIC***

CLCT: +4.46%

rgCoinGuy · July 15, 2008 8:32AM

notwilight · July 15, 2008 8:37AM

Have you been following the PM threads here?

MrEureka · July 15, 2008 8:53AM

How can I buy more coins at present prices if my stock portfolio's been demolished?

Or I have to worry about where I keep my bank deposits.

Or if I will have a job in the future.

Or the value of my house.

I guess it would still be OK to buy coins if you enjoy them.

ambro51 · July 15, 2008 9:04AM

.......and then theres that darn pesky Mayan prediction.

December 2012

Maybe you wont have to worry about anything. A great huge comet will take care of it ALL

timcoin · July 15, 2008 10:05AM

Sell all of your stock which you have lost money on, wait 31 days and buy them all back. By law you can deduct up to $3,000 per year in net loses. Your loss is more than $3,000 you say? No problem. Anything over $3,000 is carried over to the next year. Better yet, if there are some stocks in your portfolio that you made money on, you can cash out of those and offset your gains with your loses. See there, I just made you $840, assuming you are in the 28% tax bracket.

<< Or I have to worry about where I keep my bank deposits.

Or if I will have a job in the future.

Or the value of my house.

Hmmmmmmm..

>>

21Walker · July 15, 2008 10:59AM

Stocks go up and down.

Yes they do, and if you hate airline stock.....here's a secret. In September, Northwest & Delta are supposed to meet about exchanging stock in the merger. Delta is offering 1.25 shares to Northwes shareholders. Delta is predicted to post a profit for the 2nd quarter. Northwest shares a are pretty cheap right now at under $3.00. Great opportunity, then dump.

You have less than 100k in the bank.

Not a problem, if you have more, break up the account so you don't have that much or more in the account....

You have a good trade and are very employable.

Well, on this one it is very individualized. I just happen to be a manager of an engineering department for a mojor viable airline. To all others....good luck.

You own equity in your house and pay a mortgage on a schedule.

Lookin' good here. only owe 40K and paying 1K extra a month on the principle. Not everyone can or would do this, but I am 55 and plan to be totally debt free at 60 and retire. (did I say I am can retire today/).

Everything said above, it is up to every single person to insure they have a backup plan and not over extend.............Rick

To keep it coin related, here is one that has been at PCGS since 7/20...........

ziggy29 · July 15, 2008 11:23AM

I'd say coin money and long term retirement investment money should be pooled separately.

I put a fixed amount into retirement accounts each month, and with some of the discretionary income I have left, I can buy coins and bullion.

Gemineye · July 15, 2008 11:28AM

They should change that "VISA" name to " Visa-Viagra" because it keeps on growing..!!!!.......

21Walker · July 15, 2008 11:35AM

They should change that "VISA" name to " Visa-Viagra" because it keeps on growing..!!!!.......

Agree with you 100%. I have 1 CC that is only used on vacations for the hotel & possibly a rent a car. When we get the bill........payoff........Rick

Barbercoin · July 15, 2008 11:39AM

Live for today!

No, just kidding...... My financials are "sucking canal water" right now too! No telling what tomorrow will bring, let alone 2012.

7over8 · July 15, 2008 11:42AM

whether you pay it off or not

many analysts forsee in the near future large percentages walking away from unsecured debt

ruin your credit? sure, but only until our lawmakers decide that "this was an unusual scenario of events, credit crisis, etc. " and those very same people are absolved of thier debts and thier credit is restored within a couple years

same old story

the financially sound and reasonable people will be paying the bill for all of the stupid sheeple that go belly up.

timcoin · July 15, 2008 12:10PM

<< 

the financially sound and reasonable people will be paying the bill for all of the stupid sheeple that go belly up. >>

Punish the successful and responsible... It is the American way.

Coinosaurus · July 15, 2008 1:24PM

Everyone was asking the same question after the tech bust in 2001. And it turned out to be a quite good time to be buying.

BECOKA · July 15, 2008 3:16PM

I'd love to buy right now but I can't find anything worth buying.

Oh and I am just about out of money. My stock are also down quite a bit.

FilamCoins · July 16, 2008 12:32AM

<< Delta is predicted to post a profit for the 2nd quarter. >>

"NEW YORK (Reuters) - Delta Air Lines Inc (DAL.N) on Wednesday reported a $1 billion quarterly loss after special charges, as the airline industry continues to struggle with sky-high fuel prices."

Cool call, Rick!

(Just kidding, they actually would have made a small profit if they didn't have the goodwill write-off. However, I would stay far, far away from airline stocks right now unless you're in it for the long-term).

RYK · July 16, 2008 1:06AM

<< Everyone was asking the same question after the tech bust in 2001. And it turned out to be a quite good time to be buying. >>

No kidding. I am pondering selling some big coins to invest into the stock market.

lkrarecoins · July 16, 2008 1:11AM

don't get nervous...

my 401k has to be down at least 10-15% in the last couple of months....I refuse to day trade my retirement (heck im only turning 40 this year).

I will still buy coins as long as the value is still there.

Jcarney · July 16, 2008 1:33AM

<< 

<< Everyone was asking the same question after the tech bust in 2001. And it turned out to be a quite good time to be buying. >>

No kidding. I am pondering selling some big coins to invest into the stock market. >>

At this juncture, I don't think you would regret it longer term.

I'm starting to see some real solid value out there. i.e. big global industrials like GE, INTC and such. IBM could set the market in motion later this week.

charley · July 16, 2008 1:42AM

The answer might possibly be your sig. line. Respectfully, John Curlis

fc · July 16, 2008 1:45AM

just stop buying coins. it is liberating when you do that because frankly,
many coins are not worth the money and when the hobby becomes more
about buying then enjoying what you already have... it is time to take a break.

i am glad i am out of the must buy phase... and into the do not care phase of
having to feel the need to buy more material objects to be "happy".

jmski52 · July 16, 2008 1:48AM

How can I buy more coins at present prices if my stock portfolio's been demolished?

So, what's your plan? I know what my answer would be, and I've expressed it in numerous other threads, but I'm interested in what the OP is planning to do?

What types of coins are you involved with?

7over8 · July 16, 2008 1:49AM

the writing on the wall about this crisis in the markets has been there since mid 2006 when analysts sentiment started to go sour

I moved ALL 401K assets to a MM fund then and havent regretted my decision since........no option for SLV or GLD, otherwise a big chunk would have been there.......outside of that, 4.3-4.7 annualized return since then beats about anything anyone else is holding with no risk.

You still have time to move your money, IMO we are far from the floor

Jcarney · July 16, 2008 1:49AM

<< The answer might possibly be your sig. line. Respectfully, John Curlis >>

My sigline IS the answer. No doubt about it.

charley · July 16, 2008 1:53AM

One could interpret that both sig. lines are in agreement. Respectfully, John Curlis

bidask · July 16, 2008 3:55AM

<< How can I buy more coins at present prices if my stock portfolio's been demolished?

So, what's your plan? I know what my answer would be, and I've expressed it in numerous other threads, but I'm interested in what the OP is planning to do?

What types of coins are you involved with? >>

I collect primarily type coins, key dates, some gold and some dollars. Like everybody I have paid up in recent years for high quality condition census coins and rarities.

If you read carefully my question, I am implying that the present prices for these coins are sufficiently high that I would expect some sort of correction in their prices too.

Why? I am only speaking from my own collecting experience. But since I am feeling poorer I expect my purchases to slow down, unless prices adjust.

If that feeling is being felt by enough other collectors as well it may have an impact on present prices of certain coins.

Simply put there has been so much damage out there it is hard for me to believe it won't have an impact on coin prices.

And I am an avid collector.

BECOKA · July 16, 2008 4:06AM

<< just stop buying coins. it is liberating when you do that because frankly,
many coins are not worth the money and when the hobby becomes more
about buying then enjoying what you already have... it is time to take a break.

i am glad i am out of the must buy phase... and into the do not care phase of
having to feel the need to buy more material objects to be "happy". >>

I am in the same mode with the slight change of when I see something I really like I will get it. Otherwise I won't bother. Having learned the hard way, what I like and don't like I fell I can finally take advantage of my experience.

saintguru · July 16, 2008 4:46AM

Oh quit whining.

You can buy WHATEVER you want and Heritage will carry you for 1% a month.

Get those buying hats on. You're on the air!!

ColonialCoinUnion · July 16, 2008 4:51AM

<< How can I buy more coins at present prices if my stock portfolio's been demolished? >>

So don't buy anything. It's not complicated.

adamlaneus · July 16, 2008 4:56AM

I heard that PCGS has a way for you take a loan out against your coins. You could use that cash to buy more coins.

doh · July 16, 2008 4:57AM

Don't waste your money on stock

dac076 · July 16, 2008 4:57AM

<< I heard that PCGS has a way for you take a loan out against your coins. You could use that cash to buy more coins. >>

Gulp. That sounds like taking out a home equity loan to buy more real estate.

bidask · July 16, 2008 5:15AM

<< I heard that PCGS has a way for you take a loan out against your coins. You could use that cash to buy more coins. >>

hey thats a good idea!

MrEureka · July 16, 2008 5:17AM

<>

hey thats a good idea!

BidAsk - I'll be at your door tomorrow morning with a suitcase full of coins!

cladking · July 16, 2008 5:26AM

Coins are a hobby and it's probably never a good time to invest in collectibles.

However, don't write off the ability of coins to continue to increase in value. There
are tens of millions of Americans who aren't hurting in the least and some of these
will move into coins because the stock market is doing so poorly. There are many
hundreds of millions of roreigners who are doing very well and expect to have even
better performance in the near future. People in this country will have more time on
their hands for hobbies if the economy turns sour.

Everyone should be looking at his own situation and making financial decisions on this
basis and on what they expect the future to hold.

fc · July 16, 2008 5:47AM

<< Coins are a hobby and it's probably never a good time to invest in collectibles.

However, don't write off the ability of coins to continue to increase in value. There
are tens of millions of Americans who aren't hurting in the least and some of these
will move into coins because the stock market is doing so poorly. There are many
hundreds of millions of roreigners who are doing very well and expect to have even
better performance in the near future. People in this country will have more time on
their hands for hobbies if the economy turns sour.

Everyone should be looking at his own situation and making financial decisions on this
basis and on what they expect the future to hold. >>

i highly doubt even a small percentage of these millions of americans think that
since the stock market sucks they should move more money into coins. the thought
almost made me giggle out loud.

as for having more time on their hands... the older generation prefers TV :-|

BECOKA · July 16, 2008 5:50AM

<< 

<< Coins are a hobby and it's probably never a good time to invest in collectibles.

However, don't write off the ability of coins to continue to increase in value. There
are tens of millions of Americans who aren't hurting in the least and some of these
will move into coins because the stock market is doing so poorly. There are many
hundreds of millions of roreigners who are doing very well and expect to have even
better performance in the near future. People in this country will have more time on
their hands for hobbies if the economy turns sour.

Everyone should be looking at his own situation and making financial decisions on this
basis and on what they expect the future to hold. >>

i highly doubt even a small percentage of these millions of americans think that
since the stock market sucks they should move more money into coins. the thought
almost made me giggle out loud.

as for having more time on their hands... the older generation prefers TV :-| >>

Maybe so but fore every 1 new collector that is several less coins in the pool to choose from.

shirohniichan · July 16, 2008 5:56AM

If you amassed a huge collection of Euros at face value 5 years ago, your collection is currently worth a lot more than you paid for it.

OPA · July 16, 2008 6:05AM

<< the writing on the wall about this crisis in the markets has been there since mid 2006 when analysts sentiment started to go sour

I moved ALL 401K assets to a MM fund then and havent regretted my decision since........no option for SLV or GLD, otherwise a big chunk would have been there.......outside of that, 4.3-4.7 annualized return since then beats about anything anyone else is holding with no risk.

You still have time to move your money, IMO we are far from the floor >>

In my opinion, you made the move to soon & missed out on double digit returns produced by most top ranked Mutual Funds in 2006 & 2007 .. I'm guessing that your MM fund is probably paying less than 3% & last year was not paying more than 5%. History has a tendency to repeat itself and the pendelum will swing back.

CLCT + $.14..$7.17

dorkkarl · July 16, 2008 6:10AM

<< How can I buy more coins at present prices if my stock portfolio's been demolished? >>

pocket change is available at face value

K S

stckplunge · July 16, 2008 6:15AM

Join my small investment group - we are up 4% on the year so far and WELL WELL positioned for any upcoming rally!!!

Jeff

7over8 · July 16, 2008 7:25AM

opa

double digit returns in late 06 and most of 07 were few and far between. more like 8-9 percent for most growth and balanced funds.

MM returns for investment directions available to my plan yielded close to 5 percent in that period......again risk free

then take into account this year and others are NEGATIVE.

i'm just chuggin along at 4.37% annualized based on the first 6 mo of 2008.......just got my stmt today......

when we hit bottom, i'll be back in equity funds, but IMO, we arent there yet.................

OPA · July 16, 2008 8:08AM

Successful Market timing is great when you are correct. Good luck.
I myself, try to keep at least 20% of my $$ in a good, moderate risk, stock mutual fund.

RedneckHB · July 16, 2008 8:28AM

<< 

<< Delta is predicted to post a profit for the 2nd quarter. >>

"NEW YORK (Reuters) - Delta Air Lines Inc (DAL.N) on Wednesday reported a $1 billion quarterly loss after special charges, as the airline industry continues to struggle with sky-high fuel prices."

Cool call, Rick!

(Just kidding, they actually would have made a small profit if they didn't have the goodwill write-off. However, I would stay far, far away from airline stocks right now unless you're in it for the long-term). >>

Delta up 27% today.
United up 42% today.
Continental up 38% today.
Us Air up 26% today.

With returns like that you dont need to hold long term.

Peaceman · July 16, 2008 8:28AM

I'm making a killing in trading ABK for the last week or so... 10% swings daily...

bidask · September 9, 2008 8:33AM

I am going to go back to collecting lincoln pennies in a whitman folder.

SanctionII · September 9, 2008 8:34AM

Get another job or two on the side.

bidask · September 9, 2008 8:35AM

<< Get another job or two on the side. >>

They are not hiring....

seemyauction · September 9, 2008 8:45AM

"Just Do It"

ambro51 · September 9, 2008 11:01AM

BOOYAH!! BUY VM Ware! BUY AAPL! GO BROKE!! (repeat after me...Margin Call. Margin Call. Margin Call)

How can I buy more coins at present prices if my stock portfolio's been demolished?

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