trade in coins for stocks???

route66 · October 9, 2008 6:25AM

Since the coin market is in kind of a downturn, do you think it is a good idea to sell some or all of your coins in order to buy stocks that have plummeted?? Even ebay is down to about 17 [even tho most of you don't like it]. It seems like it is a buying opportunity in the stock market. Steve. PS. I don't have a lot of extra cash, but do have over $20,000 in coins [mostly slabbed]

GoldenEyeNumismatics · October 9, 2008 6:27AM

Stocks are essentially on sale right now. Sure doens't seem like a bad idea to put some money in them.

ambro51 · October 9, 2008 6:41AM

Yup. Great Advice. Two days ago Circuit City was $1

so, ya buy ten thousand shares. You sell that coin that hasent lost a cent in value

Then, circuit city is fifty cents by close of trading at four PM. Now, ya got five thousand dollars.

Yup, very sound advice.

Stick with the coins.

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Longacre · October 9, 2008 6:44AM

General Electric is $19 per share. It is a bargain at that price. I would stop this silly talk of buying generic gold and put some cash in that stock.

[note: I am not an insider]

MrEureka · October 9, 2008 6:47AM

If you don't already have a position, now seems like it would be a good time to diversify into stocks. But sell coins? Surely, you jest!

coinkat · October 9, 2008 6:54AM

Not yet

drwstr123 · October 9, 2008 6:58AM

The "Blue Light" is on.

19Lyds · October 9, 2008 7:07AM

<< <i>Stocks are essentially on sale right now. Sure doens't seem like a bad idea to put some money in them. >>

Only if your in the mood for throwing your money away!

It doesn't matter if you buy at $5.00 a share, if its worth $3.00 a share tomorrow, you'll wonder what in the heck you could have been thinking?

I would not even consider buying the cheapest stick available until things start moving in the "other" direction!

roadrunner · October 9, 2008 7:11AM

The value of stocks has been continually pumped since 1995 with trillions of extra dollars. Most of that was hot air as the current deleveraging has shown. It's probably ok to play a dead cat bounce rally from here, but longer term we're heading a lot, lot lower than 8,000. I think you'd do better in coins or bullion. Numismatic gold has been an exceptional safe haven over the past year and past several years. Why many might call slabbed generic gold "widgets," their performance has been purely blue chip. This is now more about keeping what you have.

MS64 $2-1/2 and $5 Liberties are still cheap, I recommended them both as top plays a week or so ago when they were $950 and $1175. They are now 10-20% higher....and still well below their March highs. They were beat so far down that it was laughable.

roadrunner

robkool · October 9, 2008 7:29AM

That was what my wife has been thinking...

TwoSides2aCoin · October 9, 2008 8:20AM

Coins are my pleasure, while the market is a pain.

Trading my pleasure for pain doesn't seem like a very good way to have fun.

originalisbest · October 9, 2008 8:30AM

& I highly doubt sub-8000 dow, in the LONG term, is any more a "guarantee" than the MS-65 Ct. Half I remember as being about $1500 in 1988, and surely, it could only keep going up from there....

route66 · October 9, 2008 8:42AM

So, if I take Longacre's advice and buy 1000 shares of general electric, will I be further ahead 2 years from now with the stock or with the $20,000 worth of coins.coins. I got to think the stock. Not something like Circuit City. Steve
PS. Don't say depends on the coins. Just in general.

originalisbest · October 9, 2008 9:06AM

You may well be right -- depends on many unforseeable factors. Markets move with greed and fear in magnification of underlying fundamentals. Right now, with fear rampant, it feels right to be hoarding $20's; then again, there is most certainly a time in the future when you'll feel you've missed the boat on stocks, if you determine right now to "avoid them forevermore."

zeebob · October 9, 2008 9:20AM

I can't decide whether to buy gold or stocks. So I bought some coins from Jack H. Beymer yesterday. I guess its the opposite of what this post is about...

mike92694 · October 9, 2008 9:51AM

I have two sets of savings for discretionary items. One set is for stocks, the other for coins. Should a stock double in price, I sell it and purchase stock in a different company. Should a coin double in price, I sell the coin and purchase a coin of a different type.

GrumpyEd · October 9, 2008 9:53AM

I'd say if that's your plan sell the coins before they drop and wait until you see a steady rise in stocks. You'll miss the absolute bottom but you will avoid buying too early and loosing.

This is a different drop than most people have ever seen, it has strong roots. Other drops were more limited to certain segments but this one is many segments and worldwide. I doubt it can recover anytime soon, lot's of people lost money and confidence. It might stop dropping and stay low for a long time before it can recover.

ChrisRx · October 9, 2008 10:00AM

Probably not a great idea.

I might invest SOME $ into the stock market (only enough that I could still sleep if I lost it)

Coins just seem more stable. If coins get "cold" then its buy buy buy!!

trade in coins for stocks???

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