The end is near, I will collect cash, thank you..

And let me tell you why...
Most of you know I have collected Lincoln cents for a while now,...And even some silver along the way, meaning silver state quarters, a roll of american eagle's., franklins, silver ike's. etc..., oh and even morgan and peace dollars...even maple leaf's dollars...

So , I was thinking, if the shtf (stuff hits the fan), or if silver/gold takes a dive, or coins in general, I don't want to be holding the bag. I think it is time to sell, sell, sell....

I want to collect cash, and isn't what we all want? why do we hold onto silver? or gold for that matter? Or our coins? Is it really for the purpose of collecting? regardless of what prices do?

Like it or not we are ALL in the precious metal business to an extent. I mean, Yes, we collect, But we ALSO want a somewhat return for our investment...

Don't even try to say, "I collect to collect", Because, if you have ever consulted a price guide for any coin, you are concerned about price in some fashion....meaning you are concerned about investing a sum amount of money...


So, why do we collect? I collect to hand down to my children, it's also a passion of mine...
but I am concerned about return on investment as well...

Let me ask you this, If you knew you could sell your collection today for a 40% profit for what you bought it for, would you sell it...???, and then just give the proceeds to your children or significant other??

Or if you knew in 1 year, that your profit would be just 10% , would you just hold on?

And keep holding on? Letting things drop where they may ?

 

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Well, to be honest, I really don't care what kind of money my collection would bring: will bring: could bring. I am currently in a transaction with another member for a coin that gave me shivers when I saw it. Of course I looked at price guides. I dont want to pay moon money for something that isn't worth it. And that is just because I can't pay moon money. If I could, a price guide would be worthless to me. I don't plan on my coin collection paying for my retirement or some fancy boat when I'm 50. I collect because I look at a coin and it reminds me of history, past lives, a building block to our country. My collection will be passed down. If a descendant makes moon money for my collection, then so be it. But it won't be because I meticulously invested that way.

 

Considering the fact that I just got started collecting a 40% profit wouldn't be much for me . I generally tend to stay in things for the long run anyway.

If I was in this just for the profit that 40% would need to be a rather large sum of money to entice me. Im one of those who walk when everyone else runs and run when others walk.

 

Maybe you should sell all your coins and collect guns.

 

Cash is an investment too.

It might just be one of the riskiest investments right now. One always needs at least some diversification.

 

So what happens with inflation when one has all this cash and it goes nowhere with silver and gold

 

I collect for many reasons. (No particular order):

I love to shop for them
I love the history behind them
I want to pass them on to my children
I like possessing something real. That cash your holding will be almost worthless at some point in time(IMO). Silver and Gold will most likely always be worth something. They can make all the cash they want, they cant produce more gold and silver!

 

Lol...... I DO!

 

Did someone say guns? :devil:

If the SHTF I'm very very well off! More so than the silver I own!

 

I agree...

 

I must say, that people don't invest in cash. Cash will never appreciate in value. Cash is only a tool and any excess should be placed in a position to at least keep up with inflation. Paying off debt first is best but people on this site tend to like to invest in collectable coins and bullion and study it so they understand it well.

Example: lets say one had 1000 bucks in 2000 and saved it until today. They would have about 700 with todays inflation rate. That happened whether you bought gold or not and that trend never changes. If that same stack purchased gold, you would have 5000 bucks today. So take a position in something you understand and get out of cash. Turn in that change jar too and buy some silver or gold or that coin you have been wanting. You will not have a problem turning it back to cash when you need it at the current exchange rate.

 

I can say with 100% honesty I don't collect to invest. Coins are the worst investment I can think of. It's purely a hobby for me. I expect no return on my collection. If I wanted a hobby with a return, I'd collect rare art. It's not based on anything other than what rich people will part with. And I don't think "money is what everyone wants". Theres more to life than money. Of course, if you don't have any I guess it might be different.
Guy

 

Coppermania, Let's snap into reality for a second,....The SHTF, the dollar drops in value to what ever level, Do you think you are going to take your gold or silver to the grocery store to trade for bread and eggs?? LOLOL, NO, it will be for cash..!! CASH is ALWAYS KING.!!

Best Buy, Wal-Mart, Target, Ralph's, Giant, Harris Tetter, or any retail location will only except cold hard CASH...

They are not set up to take gold or silver, your local Pawn or gold /silver person will know this and give you pennies on the dollar to convert your silver/gold into cash...

They know you cannot go anywhere else to convert, no Bank, nothing...
So, who knows how much its worth, but it will be far less than you think...
IMHO, I am cashing out now..

 

Hey AG, did you bury your lincoln cents yet?

 

Respectfully AG, I cant imagine ever taking gold to a wal mart and if you would take any to a pawn shop to redeem it for cash, them maybe you should get out of metals.

 

Tell that to the people of Zimbabwe

This would not even by you Dinner and a cab ride.

 

Well AG, to me you sound more like an investor than a collector. If whatever stuff hits whatever sized fan you are picturing, I'll still have my coin collection. If my Franklin set is worth $600 or $6,000 dollars, it won't matter as long as I'm alive. I have a collection, and I have investment silver. The collection isn't for making money in my eyes.

 

I think the point was that if you are holding cash and think you aren't investing you are wrong, you often are making a bad investment but it still is an investment, you have your "wealth" tied up in an instrument that goes up and down in value, that is the very definition of investment. Cash appreciates all of the time, don't believe me? Take a look at how much currency traders make.

 

By saying if the SHTF I assume you mean the dollar would be pretty much worthless. In that case I think I would invest in chickens. We would be back to the old barter system. Ill trade this chicken for a bag of flour type of deal. I cant eat gold or silver. I could use all that paper money to start a fire.

 

Good point. I could see investing in foreign currencies if you feel the dollar may become worthless, but stockpiling the dollar as it tumbles doesn't make much sense to me.