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If coins declined in value...
MrEureka
Posts: 24,415 ✭✭✭✭✭
...would it be in the national interest for the government to do everything in its power to prop up values? Or would it be best for them to allow coins to fall to levels at which the next generation of collectors could more easily afford them?
Yes, I'm serious. And please don't let this thread get OT. Thank you.
Yes, I'm serious. And please don't let this thread get OT. Thank you.
Andy Lustig
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
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<< <i>...would it be in the national interest for the government to do everything in its power to prop up values? Or would it be best for them to allow coins to fall to levels at which the next generation of collectors could more easily afford them?
Yes, I'm serious. And please don't let this thread get OT. Thank you. >>
Very silly question Andy. A fall in coin values wont put millions of people out of work. You just might have to finance your next car instead of paying cash in full.
I said "No OT"!
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
It seems to me that the coin market may/will only get soft in relation to the economy as a whole. Given that, if the government is able to enact legislation that can help to boost the economy in general, that should be all the "outside" support that the coin market should need.
Of course, we "insiders" would need to step up and continue to attract newcomers to the hobby/market in order to keep it fresh and to continue the interest in the hobby. Otherwise, we run the risk of evaporating into historical obscurity...
(Is that a serious enough answer for you?
It (the coin market) should be regulated by nothing other than supply and demand. If it tanks, it tanks and that is that.
Collector of Early 20th Century U.S. Coinage.
ANA Member R-3147111
I would like these prices fall, just like gas, and oil. A bargains paradise for those who want to acquire the best coin collections out there.
well, i'll put it this way...........the value of common pocket change is falling (i.e. buying power of the dollar), and they seem to care less. Heck, they are even happy to devalue it further by printing more!
But, I'm assuming you're talking about vintage collector coinage. I think that most non collecting folks have, in their minds, de-monitized collector coinage, instead relegating it to a collecting niche such as art or anything else that someone collects in their leisure. Most assume (and rightly so!) that the value is not in the face value itself, but in the scarcity value and age of the coin; it's inherent collector's market value if you will.
Because of this, I believe that the government won't even consider propping up things that appear as simply disposable income type collector's vices. Also, one has to consider that coin collecting as a whole was here LONG before the US was even a country, and will thrive world wide long after the US sees it's numismatic bull and bear markets. I know many around the world would like to own US coinage too, but feel the current prices are overinflated for what the coins truly are. A subsequent drop in price here (i'm assuming you're talking a dramatic price drop) would mean that many more folks worldwide would buy up US coins at a faster rate then they do now.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
<< <i>There are so many people that have invested some of their retirement money in coins. How can we possibly let them lose their retirement money? >>
every investment has a certain degree of risk, collectables included (especially?)
<< <i>There are so many people that have invested some of their retirement money in coins. How can we possibly let them lose their retirement money? >>
OK...now I am beginning to question just how serious you were being when you began this thread...
<< <i>There are so many people that have invested some of their retirement money in coins. How can we possibly let them lose their retirement money? >>
I would LOVE to see the data on this statement Andy. Im going out on a limb and im gonna say that less than 1/10th of 1% of ALL "retirement money" nationwide is in collector's coins. Im not talking about bullion related coins, but strictly numismatic pieces.
If you're right, then it should not cost much to save these people.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
The OP's question is ridiculous...
Collector of Early 20th Century U.S. Coinage.
ANA Member R-3147111
<< <i>Maybe the government should prop up the vintage car collecting market? Or perhaps give amnesty to those that have more than $10K in credit card debt. No wait, lets just forget about capitalism altogether and become a socalist society...
The OP's question is ridiculous... >>
...and you sir, are taking the OP's serious question way too seriously...
OneCent - Which part of "OT" don't you understand? "O" or "T"? This is a coin forum, and we're talking about saving coin collectors here.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Now you've hurt my feelings.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
<< <i> I would LOVE to see the data on this statement Andy. Im going out on a limb and im gonna say that less than 1/10th of 1% of ALL "retirement money" nationwide is in collector's coins
If you're right, then it should not cost much to save these people. >>
If I am right, then the amount is so insignificant that it wouldnt affect enough people to warrant any type of bailout. And for those who are HEAVILY invested into collector's coins as a large part of their retirement portfolios, they didnt heed the advice even a 5th graders knows.....DIVERSIFICATION!
<< <i>
<< <i>Maybe the government should prop up the vintage car collecting market? Or perhaps give amnesty to those that have more than $10K in credit card debt. No wait, lets just forget about capitalism altogether and become a socalist society...
The OP's question is ridiculous... >>
...and you sir, are taking the OP's serious question way too seriously...
Collector of Early 20th Century U.S. Coinage.
ANA Member R-3147111
It looks like everyone wants to hurt my feelings tonight!
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
<< <i>and you sir, are taking the OP's serious question way too seriously
Now you've hurt my feelings. >>
I'm sorry...I was trying to help you (not that you need any help...or do you)...now what have I gone and done?
Folks...for the record...if anyone has spent more than extra $ on their coins, I suggest you get yourself some display cases and lites and start selling off that stuff...after all, this is a hobby...unless, of course, it is your business...
Remember...time flies so mind your business...
edited to add --- Can your hobby be your business and can your business be your hobby? And whose business is it anyway?
<< <i>And for those who are HEAVILY invested into collector's coins as a large part of their retirement portfolios, they didnt heed the advice even a 5th graders knows.....DIVERSIFICATION!
It looks like everyone wants to hurt my feelings tonight! >>
<< <i>
It looks like everyone wants to hurt my feelings tonight! >>
You might not be in the mood for this then.
The only viable way for the government to prop up coin prices would be
to buy them on the market. And then what? ...Relegate them to muse-
ums, smelters, the ocean deep?
People don't want to go to museums and see row after row of cases full
of coins.
A bailout of coins directly is improbable even if they need it. But fear not,
inflation should at least prevent any excessive drop in demand even if it
erodes the purchasing power of the dollars in which they are valued.
'dude
<< <i>I would be willing to fly to Washington in my corporate jet to testify on behalf of the coin lobby to explain why numismatists are fully justified in receiving a federal bailout. I'd then rent a resort for a week to entertain business contacts and as a show of appreciation for company employees.
'dude >>
Hey, you shoulda run for President! I mean, with coins like that one in your sigline... that is what I call "Change we can bank on!!!"...
<< <i>I would be willing to fly to Washington in my corporate jet to testify on behalf of the coin lobby to explain why numismatists are fully justified in receiving a federal bailout. I'd then rent a resort for a week to entertain business contacts and as a show of appreciation for company employees.
'dude >>
Cool.
Will there be plenty of women?
<< <i>
<< <i>I would be willing to fly to Washington in my corporate jet to testify on behalf of the coin lobby to explain why numismatists are fully justified in receiving a federal bailout. I'd then rent a resort for a week to entertain business contacts and as a show of appreciation for company employees.
'dude >>
Cool.
Will there be plenty of women? >>
... And Patron on ice - baby, you can have whatever you like...
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1