Coin Flip Prices Gone Wild!

A friend and I split a case of 1000 of the Meghrig. Yes, they have some PVC
content, but by the time it effects my coins I will be long gone from this sweet
earth. By the way, I'm 64 years old. Picture to keep on topic.

Dealers photos. Wizard Coin Supply

 

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That's a common misconception, in fact some inflation is healthy, which is why the Fed has a target rate of inflation between 2-2.5% What is dangerous is deflation or stagnation. A moderate amount of inflation is generally considered to be a sign of a healthy economy, because as the economy grows, demand for stuff increases. This increase in demand pushes prices a little higher as suppliers try to create more of the thing that consumers and businesses want to buy. What worries me is whether we're going to face a serious problem with an end to quantitative easing and the consequences of same since Bernake initiated it. It's still not clear whether it will be a net benefit to the economy. His quantitative easing scheme involved the unconventional purchase of Treasury bond securities and mortgage-backed securities (MBS) in order to increase the money supply in the economy. More info - https://www.stlouisfed.org/publicat...ntitative-easing-how-well-does-this-tool-work

 

Healthy no, tolerable yes. Economics are a completely human created construct and no there’s not really any world where it’s healthy or preferable for your purchasing power to be devalued. It’s part of life but no it’s not healthy or ideal

 

I grew up in the 1970s, with "inflation BAD" as the universal assumption -- and when inflation was stubbornly in double digits, it was bad.

Since then, I've seen many claims that stable money just gets hoarded, instead of being put to work. (Deflation makes this much worse.) It's apparently a societal good for your money to be invested and put to work in ways that generate returns, rather than just sitting in a vault. Mild and ongoing inflation encourages this.

Of course, there's a powerful streak of "to heck with society, I've got mine" running through the American psyche.

 

Was that from Ed Woods University?

 

When we moved from the SF Bay area to So Cal, we had a CD at 14% and our first house loan was at 10.5%. Since I have money in the bank, I hate to see loan rates at 2% and CD's at 0.5% (if you can even find that). Somewhere in between seems rational to me, but what the heck do I know, I'm a chemist taking lessons from @GDJMSP

 

I read somewhere that DANSCO is having trouble with staffing, thus the backorders on most of their products. Adding to the backorders is the pandemic which I think has increased collection efforts by "stay-at-home" collectors who haven't gone out and about, just purchasing online (which translates to more albums needed). Third, many coins shows have been cancelled or postponed so that collectors, rather than being able to sell their coins/collections (or buy different ones) need storage provided by albums ordered online. JMO. All the above conspiring to create a "shortage" of albums although it doesn't seem to have translated into much higher prices for said albums. They're just not available until staffing problems are alleviated at DANSCO. There, I've just solved the conundrum! lol

 

I'd agree that money production should keep up with population increases but it should probably lag it since few babies have income. Any more than that is just another tax and more wealth being transferred to government.

Right now longevity is decreasing and every indication is population is soon to start decreasing.

There's no such thing as "idle money" unless you're sleeping on it. If you put it in the bank your dollar will be loaned to twenty different people who all pay 3 to 20% interest on it while you get .05%

Savers have gotten a bad rap. In such a complex financial system as ours it's rather difficult to say where money does the most good but we've created a juggernaut of a banking industry that loans money at 20% and borrows it at .05

When I was child it was illegal to loan money at over 7% and it was enforced.


I think the day will come that people appreciate coins from this era. Nostalgia and history are a couple of the strongest motivations to collect anything and these are interesting times with interesting coins. They have interesting reasons to be produced, interesting distribution patterns, and interesting attrition. Imagine making a coin (penny) that must cost four times what it is worth and even costs more to count than its value. This certainly says a great deal about our economy. I believe the main reason this madness continues is that the FED is afraid the perception of inflation will get out of hand if the worthless ugly little slugs are withdrawn for proper disposal.

 

And in a deflationary or flat environment, lots of people will do exactly that. My mom's parents had (for the time) a nice nest-egg at the beginning of the Great Depression. They were wiped out when the bank failed. For the rest of their lives, they always had greenbacks stuffed under their mattress. They literally slept on it, and misguided though that choice may have been, it let them sleep easier.

 

A local store had a special on crab legs this week-only $65.00 a pound. I don't know much about fish except that I like cod now and then. I got spoiled on it at $5-6 a pound. Now it's $16.00 a pound and not a captains cut. I live in Mass. and wonder how hard can it be to get these to market less than 150 miles away from their source that would justify these prices.

 

Good lord that is INSANELY expensive from the national average. It's true cod got popular a few years ago and was at like 7-8 most places, but now its 10+ and a lot of places more expensive than salmon which makes no sense. Salmons gone up like 2-3 dollars a pound in the last year.

I love crab but its just to expensive for what it is. It's like 40 a pound at costco for crab legs. Crab is one of Gods jokes on the world. It's delicious but you never get full it takes so long to open them lol. For 65 a pound that better be a lobster that cooks itself and does the dishes after you eat it.

If this keeps up I'm moving to Mississippi or Alabama and just hunting and fishing everything. It's all almost doubled in price in the last year

 

I read somewhere that 40% of all the dollars in existence were created in 2020/2021, it's impossible for prices to do anything but go up.

 

Salmon has always been more expensive and until the last few years was always significantly more expensive. It is surprising for a fish that was half the price of salmon a few years ago to now be more expensive most places even with salmon adding several dollars a pound to its price.

A lot of the cod price increase is because they can. A ton of it gets wasted now from now selling at the inflated prices and has been the case for a year or so because it got popular for being very healthy and tasting however you season it. The cod price spike has been happening long before supply issues and started with because they can. It's obviously exaggerated now by actual issues, but it's been happening for years and you would see wild price differences for the same thing at different stores.

Costco went from like 8 to 11, whole foods 9 to like 15, wegmans if you live on the east coast was 8-9 to 13ish now. There's much more at play than farming

 

Does this mean the senior meal at Captain D's will be more than I can afford?!

 

I was buying lake perch for 9c a pound when I moved out of my parents house. Fish was always the least expensive meat so I ate a lot of it. All the time growing up we ate halibut regularly along with cod (frozen 69c/ lb), and smelt which the stores almost gave away. We literally got a lot of free food but most of it was fed to the animals.

In those days you could wrap the left overs in silver foil if you would pay about five times as much as aluminum foil. I've always wondered how much they sold right out of the grocery6 stores.