NERVOUS? Hate your coins now? How about the market?

saintguru · October 10, 2008 10:27AM

Here's an interesting tidbit.

I had a bid from a substantial dealer for a good coin I have 2 months ago. It was a VERY rich bid. I was not really interested in selling bit he'll price a coin with no obligation. I talk to him everyday about things other than coins.

At that end ogf our conversation yesterday, I dubiously asked him, "By the way...what's your bid on that coin now?''

"Exactly the same" he said. WoW!

Coins ain't so bad here.

Edscoin · October 10, 2008 10:32AM

Ask him again in two Months from now!

bidask · October 10, 2008 10:33AM

That is a nice boost in these times!

saintguru · October 10, 2008 10:34AM

<< Ask him again in two Months from now! >>

$50 says it's HIGHER! Ehhh?

adamlaneus · October 10, 2008 10:34AM

<< By the way...what's your bod on that coin now?'' >>

saintguru · October 10, 2008 10:39AM

Hey....I had a few beers after the worst week in Wall Street history.

You should have seen what I typed BEFORE I sdited it.

lasvegasteddy · October 10, 2008 10:39AM

<<<At that end ogf our conversation yesterday, I dubiously asked him, "By the way...what's your bod on that coin now?''

"Exactly the same" he said. WoW!>>>

yeah saint...some have sympathy for me too

saintguru · October 10, 2008 10:41AM

Are you doubting your coins?

If you buy great stuff, any price, just great for the grade, you won't be shocked!

lasvegasteddy · October 10, 2008 10:47AM

<<<If you buy great stuff, any price, just great for the grade, you won't be shocked! >>>

that's what my other dealers always claimed too

saintguru · October 10, 2008 10:49AM

I'm not a dealer.

I am a collector which makes my opinion much more objective.

Mesquite · October 10, 2008 11:19AM

Not nervous - more pissed than anything else. I never have hated my coins.

lasvegasteddy · October 10, 2008 11:21AM

nervous...all the time as something may pop up that i gotta have

hate your coins...i've hated to sell a few

saintguru · October 10, 2008 11:22AM

everyone is nervous.

TwoSides2aCoin · October 10, 2008 11:42AM

More than nervous, I'm coinfused. I've always liked coins. With the news of the past couple weeks, coins are a nice escape.

adamlaneus · October 10, 2008 11:42AM

I only hate your coins now. I love mine. Mine need love.

Boom · October 10, 2008 11:52AM

Nervous? Not me. I got out at the beginning of 08 - and quite nicely at that!

YaHa · October 10, 2008 11:57AM

Hell if you lose everything else and you start living on the streets, you can always buy hot coffee, put coins in your sox and heat them up to keep warm. Coins are good I think. They are good weapons also. Just try to snap flick a silver dollar at someone's head you will hear a ping if it hits them right.

BTW I don't really know what I just said as usual.

adamlaneus · October 10, 2008 12:01PM

<< Just try to snap flick a silver dollar at someone's head you will hear a ping if it hits them right.

>>

Believe me, the NICKEL is the most dangerous coin for snapping at someone. Too heavy and you cannot launch them with enough velocity. Too light and they don't have enough inertia.

The nickel can be snapped with amazing force and can do the most damage.

I studied this long ago in my sophomore year, during the winter, whilst drinking rather alot of Stolichnaya.

smokincoin · October 10, 2008 12:03PM

<< With the news of the past couple weeks, coins are a nice escape. >>

Boom · October 10, 2008 12:06PM

I LOVE the ones I still have!

tightbudget · October 10, 2008 12:28PM

<< that's what my other dealers always claimed too

>>

I gotta get me one of those tokens someday...

Dog97 · October 11, 2008 1:31AM

I "hate" the ones I got sitting on the BS&T Board that everybody's laughing at instead of buying. I love the high priced Morgan keys I just sold to a...dealer...don't tell nobody that I'm dealing with a...dealer...ok? and actually made a little $$$ profit.

rjsriv · October 11, 2008 6:49AM

HISTORY IS REPEATING ITSELF-- look at what happend bfore the crash in 1929!!!! don't play in the "wall street casino" Coins and Bullion will never be worth nothing!! I am making money and have made more money with coins than lost.

Julio · October 11, 2008 7:10AM

My coins are worth more than my stocks.

Plus I get to play with them. Up/down they still fascinate me.

I didn't start collecting to make money but right now I sincerely wish I had ignored my stock broker and bought more coins. I would hazard a guess that my broker wishes he had purchased coins vs the stocks he sold me. Take Care, jws

Elcontador · October 11, 2008 5:07PM

I'm not nervous, because I'm not afraid of what is happening in the markets. I actually understand this stuff. I'm a bit annoyed because it is going to take awhile for my portfolio to recover. But it will recover, because I have quality securities. Note - the S & P high reached in March of 2000 was not eclipsed until this summer.

This has nothing whatsoever to do with my coins. Just remember, however, that a coin is worth what someone else will pay for it, and unless you're dealing with widgets, the market is thin. If people / dealers don't have the disposable funds for coins, there will be fewer buyers interested in them.

saintguru · October 11, 2008 11:14PM

<< HISTORY IS REPEATING ITSELF-- look at what happend bfore the crash in 1929!!!! don't play in the "wall street casino" Coins and Bullion will never be worth nothing!! I am making money and have made more money with coins than lost.

>>

History doesn't repeat itself. that's a cliche'.

That said coins are a great thing to own. They cheer you up and the money thing, yeah, yeah, yeah. Gimme coins over paper.

jmski52 · October 11, 2008 11:43PM

SG, as one who deals in the markets every day - do you think that the drop in the pog is due to the general selloff, people trying to raise capital and exiting the markets, or do you think something else is afoot?

saintguru · October 11, 2008 11:50PM

yes.

I'm a buyer right now. Look at the pipeline stocks: EEP, EPD, TPP, OKS....yields through the roof! Major oils: CVX, COP, BP. Big multi-national guns: IBM, DE, CAT, MO. Value plays: UNH, CAL. GOLD!: GLD, GG, AUY

We're gonna see a bounce very soon and nothing would surprise me...it could be 1000 pts in a day...back to back 600 pt. days...anyone's guess. We are so grotesquely oversold that when the INVESTORS step in and start they'll find nothing for sale, the shorts will pile and it will be a vacuum. I don;t care about "it's different this time" because it's different EVERY time but the fact that the dollar has been soaring is very telltale to me and as soon as liquidity settles the US will be THE place to put money. I called for $1.20/US:EU months ago and I think it will happen!

veryfine · October 12, 2008 12:03AM

<< I'm not nervous, because I'm not afraid of what is happening in the markets. I actually understand this stuff. I'm a bit annoyed because it is going to take awhile for my portfolio to recover. But it will recover, because I have quality securities. Note - the S & P high reached in March of 2000 was not eclipsed until this summer.

This has nothing whatsoever to do with my coins. Just remember, however, that a coin is worth what someone else will pay for it, and unless you're dealing with widgets, the market is thin. If people / dealers don't have the disposable funds for coins, there will be fewer buyers interested in them. >>

I agree with much of what you say, but I have a different opinion with regard to your last comment. While it seems logical that people need disposable funds to buys things like coins, the obsessive collector always finds a way to feed his addiction. Die hard collectors will buy crazy things like coins in the worst of times. Some people love to shop when times are bad. It's a comforting distraction.

jmski52 · October 12, 2008 12:05AM

SG, you are right about the pipelines, and I know the industry very well, since they are all my customers.

The refiners too. Probably so. Even if the economy gets whomped, we still use fuels.

John Deere had a bit of a bounce Thursday.

Added (after seeing veryfine's remarks):

I called for $1.20/US:EU months ago and I think it will happen!

Whoa, you're even bigger on that than Sinclair himself. But why not? The cards on that one have been dealt.

saintguru · October 12, 2008 12:53AM

The pipelines are the closest thing to the "no lose" thing we have. The only thing that would hurt them fundamentally would be 20% bank rates.

I'd give 500:1 odds on that one.

saintguru · October 13, 2008 1:16AM

AHEM!!!

saintguru · October 13, 2008 9:49AM

<< I'm a buyer right now. Look at the pipeline stocks: EEP, EPD, TPP, OKS....yields through the roof! Major oils: CVX, COP, BP. Big multi-national guns: IBM, DE, CAT, MO. Value plays: UNH, CAL. GOLD!: GLD, GG, AUY

We're gonna see a bounce very soon and nothing would surprise me...it could be 1000 pts in a day...back to back 600 pt. days...anyone's guess. We are so grotesquely oversold that when the INVESTORS step in and start they'll find nothing for sale, the shorts will pile and it will be a vacuum. I don;t care about "it's different this time" because it's different EVERY time but the fact that the dollar has been soaring is very telltale to me and as soon as liquidity settles the US will be THE place to put money. I called for $1.20/US:EU months ago and I think it will happen! >>

OH-ME-OH-MY-OH-ME!!

I did buy a lot for clients last week.

TwoSides2aCoin · October 13, 2008 9:52AM

Nerves of steel and orbs of gold. That's the ticket

MikeInFL · October 13, 2008 9:55AM

Good call Jay.

RYK · October 13, 2008 10:03AM

I had a huge buy of the large cap indices at the close on Friday. Looks good, at least today. Bought some BUD at the open today. For a company that is being bought out at 70 in a couple months, it did not seem right that it was trading in the high 50's.

saintguru · October 13, 2008 10:31AM

That was a smart move and so indicative of how irrationally things got.

How the hell could pipeline stocks that are basically "toll roads" for oil and gas drop so much that they yield 16%? It's insane! I've owned some for almost 15 years and they traded about +300-400bps over the 10 yr. treasury forever. They were +800-1200bps over! I bough so much on T-F I was dizzy..and I knew that sooner or later they had to start getting back to the historic basis. Threw 20,000 CVX in for icing....clients now...not ME!

I'm broke.

bidask · October 13, 2008 10:51AM

I was on the brink in that I was margined, buying down to average cost of DOW 9000, when I saw them puking up XOM and CVX for 16 points and KO and JNJ for 9 points each on Thursday and Friday, I bought more among others. I was in a daze and nervous , thinking well I got my coins.

Today, I unloaded 1/2 my position and felt so good I bought a couple of nice proofs from Pinnacle.

saintguru · October 14, 2008 1:22AM

WoW!

Nice move. Save some $$ to pay for replacing last weeks underwear too.

eCoinquest · October 14, 2008 1:24AM

WOW, you guys really made a good call! Care to share todays predictions??

Meltdown · October 14, 2008 1:28AM

<< 

<< Just try to snap flick a silver dollar at someone's head you will hear a ping if it hits them right.

>>

Believe me, the NICKEL is the most dangerous coin for snapping at someone. Too heavy and you cannot launch them with enough velocity. Too light and they don't have enough inertia.

The nickel can be snapped with amazing force and can do the most damage.

I studied this long ago in my sophomore year, during the winter, whilst drinking rather alot of Stolichnaya. >>

I once received a black eye from a super velocity nickel point blank.
We used to have some wicked wars around the bachelor pad back in the day.

TwoSides2aCoin · October 14, 2008 1:58AM

<< WOW, you guys really made a good call! Care to share todays predictions??

>>

Hospitality

Ya'll come back now... ya hear ?

jmski52 · October 14, 2008 2:22AM

Hey, nice call!

streeter · October 14, 2008 2:38AM

Seems a lot of people are talking about how the economy is in the D word and the stock market is suffering from it's worst ever decline but I have yet to read about any stock brokers jumping out of windows.

Even that guy at Lehman speaking before Congress about how SORRY he was for all the poor soles who got reemed by his POOR assessment of risk---he just forgot about the $480 million he personally reaped the last 8 years. I guess that $480 million is just a little pesky problem he has yet to figure out how to splain.

That 'bailout' seems to have come just in time---didn't it? Hell, a trillion here-a trillion there.....pretty soon it's adds up to real money. Hang on to your hats my friends. 'Our' country is soon to be 'their' country.

saintguru · October 14, 2008 4:56AM

you sell-out.

Grow some testes, OK?

streeter · October 16, 2008 6:43AM

SOOOOOO....................

Monday was dead cat bounce.....

MrEureka · October 16, 2008 6:57AM

I was in a daze and nervous , thinking well I got my coins.

Dan - I've had days like that too. Actually, now that I think about, decades.

streeter · February 24, 2009 6:07AM

you sell-out.

Grow some testes, OK?

I didn't know there was a farming town called Testes, Oklahoma.

Hey Sainty, predict the day SP does 600 and I've got a freebee for you. You'll really like it too.

One thousand shares of Bear Stearns

cut into 4" x 4" squares for emergency use only.

devious · February 24, 2009 9:22AM

<< 

<< that's what my other dealers always claimed too
>>

I gotta get me one of those tokens someday... >>

And then you'll be token with the token that's token

TwoSides2aCoin · February 24, 2009 10:03AM

I sold a Proof 70 George Washington Dollar on ebay for $210. Then paid $211.50 for an AU 50 PCGS 1836
It's a wash.

It's just a hobby. Nothing to be nervous about.

The market ? I should have added to my position yesterday, as RIMM is concernend. But I suck at investments. That's just not my forte.

So how much for the UHR on the open market ?

MORGANHUNTER2 · February 24, 2009 10:43AM

Interesting the way a few months can change life.

NERVOUS? Hate your coins now? How about the market?

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