coin market is going to go bust

here is an article. take it for what you will. its not my problem as i am retired and happy.


here is an excerpt


Are we at the very top? If we knew the exact answer, we’d be on a beach in Hawaii. However, if you are smart, you’ll play it safe and assume we are near the top (as many people are). As we said before, we think the market is actually quietly correcting by 10-20%. Buy ONLY the coins you need for your set. Sell off your inferior coins no matter how much of a hit you’ll take (your first loss is your best loss), buy ONLY true quality pieces. Do not sit on duplicates-when a great coin comes up for sale, dealers frown on trade-ins when they know they can get immediate cash for their piece (you get better deals as a cash buyer).....


here is the link

http://www.numisnews.tv/Who-is-Buying-and-Who-is-Selling.htm

i am going to go on the beach in Hawaii though but that is a different story

 

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Hmmm. There is one positive aspect perhaps...

I have a short list of moderately rare coins that I actively search for in low grades. If I can find a "nice" AG example for an even nicer price.......

Well, in this heated up market, I'll see the same coin change hands over and over again. Everyone is trying to pick up the "crap" or the coin with the questionable mint mark and repackage/resell it at a profit.

If the article is right, these guys will have a lot more competition and I'll have a lot more crap coins to pick from !! Woo Hoo!

 

at least you are happy

 

I'm not particularly concerned.
Numismatics is a hobby for me.
Prices only affect my buying.
If prices go up, I'll won't be able to afford as many or as good coins.
If prices go down, I'll be able to afford more or better coins.
It's unlikely I will ever benefit dollar-wise from my collection.
Whoever gets them in my will will be the beneficiary.
My benefit is the pleasure of collecting and appreciating.

 

I'll just quote Kanga because I could not have said it better myself...

 

Interesting but the majority of people here are NOT in the hobby to live off of it. Filling that tough hole in your set in AG can be extremely rewarding.

As long as there are collectors there will be potential to make money. I'd love to have all of my coins in ultra high grade - maybe. First I'd need the money to purchase same and then kindle a romance with PCGS and NGC.
As it is I own very few slabs, do have some decent stuff and don't see me getting killed on it.

I also have 30 years of junk. If you guys only knew how many times I've said I need to get rid of it but it's still here.

Eventually it will go and I'll most likely take a hit for the junk. Been figuring that for years actually. The good stuff I'll make money on.

Market may well go down. The economy sure isn't helping the average collector but the average collector will never disappear IMHO.

It is, after all, still a hobby.

 

Yeah, I cringe every time people start talking about trying to make a few bucks in coins, I assume that means another person out there effecting the prices. Prices going up, people buying up coins to be resold for a bit more so they eek a few more bucks out of an already high priced coin...these are all things that effect my ability as an end collector to get what I want for a reasonable price. Its just a hobby to me and always will be...I buy for the love of coins, not for how much I can flip it for.

 

Well said!

 

6 months ago, I read so many articles about how platinum was going to jump due to the expected production shortage and the electrical power problems in South Africa. I bought about 5 oz of it ... and then gas hits $4 and people stopped buying cars/trucks. Next thing you know, car sales plummet and so does the industrial demand for platinum (catalytic converters).
What did I learn ? No matter how logical and reasonable the explanation, it's still just an educated guess and you have an almost even chance of being right or wrong. The moment you think you outsmarted the system to make a quick buck is when it comes back to bite you.

 

sorry to hear that man really am.

 

It's ok. I took a risk and it didn't work out. Same thing if I bought stocks. You win some, you lose some (although it seems like more of the latter).

 

Buy in moderation as frequently as your means allow for, and over the long haul you will com out ahead. People are in such a hurry these days to turn a quick tidy profit. If it were that easy we'd all be filthy rich. Want to read a good book on just this approach, read The Snowball by Warren Buffet. I've based my investments on his strategies, and over the past 20 years have come out light years beyond any expectations I ever had. Patience and moderation is the key. Quit trying to get rich overnight and you might just suprise yourself.
Guy~

 

I absolutely agree with this statement.... as some other members on here have already stated.... I couldn't have said this any better.

This should become the coin collectors mantra!

 

But on the bright side, you still have your platinum in hand which is far more rewarding then a peice of paper (or worse still, a computerized statement).

I made sure all my platinum investments were jewelry so I can still look good while I wait for the spot prices to rise again.

 

Good advice Guy, what you say is so true. Man, I wish I had just one share of Buffets' class A stock (LOL).

 

Well . . . FYI: Living on a beach in Hawaii is not all that it's made up to be. You have to stay awake often at night just to see the sunsets. Turtles have taken over the beaches. You have to walk the old fashioned way on sand and grass rather than on modern pavements. The ocean is another factor to deal with. It's wet! And at night all those stars. Couldn't someone just make it black? I mean . . . I gotta get some sleep!

 

Since, at this moment in time anyway, I plan on holding my collection till I die. Monetarily my coins will always be worthless to me. LOL! The question is what will they be worth to those that inherit and sell them.

 

Even the kids have to fight for their place on the beach. There's wild animals every where U go . . . In the ocean and on the shore. We have to write on the sand just to communicate.

Did I mention having to stay up and watch these sunsets every night?

 

Thanks for the post, Spock !

I read the link. Here are the things I took from it :

"the market may be topping out (we do think overall its off 10-20%)."

"The collectors we deal with want to move into the better material and are pretty much cleaning out their closets"

"As we said before, we think the market is actually quietly correcting by 10-20%"

Let's say it does "correct" by 20%. Is that a "bust" ?

In my mind, no.

 

The way I see it you won't lose money if you don't sell your coins. Why would I want to have a fire sale on my "inferior" coins just so I can lose money?



By the way Haleiwa, those pics are very depressing Just kidding (sort of), great pics, very beautifull scenery, I wish I was there.