With Ecomony down, Will Coin-Prices Go Up ?

Hoggman, you're a wise person. Hopefully you can help spread the word about what the real issues are and what's non-issue. You hit the nail on the head.

"No man is more enslaved than he who believes he is free."

That's where we're at. Most people don't know, don't care or both. The next great depression will not be fixed by taking away gold and inflating what a dollar's worth. Already played that card!! What pulls us out this time? We're already in so-called wars/occupations costing into the trillions now. So unlike WWII, war isn't going to help pull us out. So how do we get out the next time?!

Yeah, the guy I work with.. his brother works for one of the federal reserve banks. He didn't know the federal reserve (Fed) was not a government agency.

The average American thinks the Fed is our best buddy. "Always trying to hold things together and help Americans out." When in reality it's our worst enemy from within.

The U.S. was begun as a Republic governed by laws, not to be deviated from. The forefathers never wanted it to slip into a democracy, which is well known, over thousands of years, that it is only a temporary form of government, which eventually has to transition into something else.

It only lasts up until and to, the point at which everyone begins voting for the candidate that will GIVE them the most out of the public treasury. In turn they vote for said candidate(s) over and over until the public treasury is gone. Democracy fails. You wouldn't know from listening to our politicians or the news though. They won't teach you that in school.

If people would just dig a little deeper than CNN....

 

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i say give me the lock. i havent locked a thread in a while. we dont get a lot of visitors on timeless coins

 

Where would I rather have my money???

Ok... I think that most people believe the coin collecting market will suffer somewhat during a recession or a depression, but what happens in a deep long drawn out major economic downturn?

Where would you rather have your money?

Personally I would not mind storing wealth in the form of rare coins. In this case I would not be talking about circulated type sets or date sets of a certain type. In this case I would be talking about scarce MS coins. This would of course mean that I would not plan on liquidating these assets. This might mean "long term wealth" or "family wealth".

For preserving savings or for storage of wealth that may need to be liquidated I think gold and silver is the way to go.

Depending on whether money is inflating or deflating in an economic downturn owning gold may or may not be a wealth builder, but either way it is safer than holding Dollars.

Coins are money, but coins have the unique property of being metal. So they could be useful in other ways than just being "money".

For example... lets say the poo poo really hits the fan. Would you rather have $50,000 in greenbacks or presidential dollars?

I would rather have presidential dollars. Maybe I could turn them into spears, knives, bullets, or whatever.

Paper money really is worthless. Paper money started out as a "promise", but has devolved in to "paper". Paper money is a faith certificate. The true asset behind paper money is "consumer confidence".

Notice people do not really hoard greenbacks for their intrinsic value, although they do have some intrinsic value..... they are paper. Paper can be burned, and you can make things out of it. It isn't totally useless.

I would not say rare coins are a great place to hold wealth, but if the "dollar" becomes worthless, I would definitely rather have possession of copper, silver, gold , zinc, nickel, or just about any other metal coin.... because unlike a broken promise metal is an asset that can be used to your advantage.

 

i am going to see a the oracle at delphi. for a 100 quid i will take one question on your behalf

 

Please ask her if my modern commemoratives will melt under 2000 F*.

 

sure 100 quid please

 

I have emailed the Oracle... she owes me a favor, so she will be paying you in full.

Nothing to worry about. She is very honest, and knows herself well.

She's always babbling about that as a matter of fact "know thyself"....

 

The Westward Journey Proof nickels in PF-70 may increase in time. Some had mintages of under 3 million, but much lower in the proof 70 grade. All the proofs(not just Westward Journey) might be a good hold in proof 70 grade. My Ebay auctions have been steadily lower over the last year. Prices and bids seem quite low compared to one year ago(except for bullion priced coins, which have risen with the metals price).

 

oh then she will email you the answer too. all your worries are over