Anyone want to talk about the survey?

I answered Yes to all 3 but the questions were too vague.

Yes, I've sold coins in the past 6 months.

Yes, I will be selling more in the next 6 months.

Yes, the economy is to blame, but why is it to blame?

With the economy going downhill, my pay went with it. I made less but was still buying coins I wanted so I sold coins I didn't need to help pay for the ones I wanted and I have a ton more that I will be selling but unfortunately, it's not so I can buy more coins, it's so I can pay my bills until I get things going with the business. Once things get going with the business, then I will be back to buying coins again. But with the economic slump, it's going to take me longer to get situated than it should.

So with the way the survey was written, I had to answer Yes to all 3 questions but the reasons why, are different than others. :goofer:

Ribbit

 

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I answered YES to all three so the survey really hit home with me.
As a matter of fact I mailed a package to a fellow CT member today and have mailed a few in the past few weeks.
Now I'm not selling my "big" dogs and have always done some selling but my latest sales were definitely geared toward raising cash.

Will I sell more in the next six months. Most likely and to raise cash. Bills are lower in the summer and it's a good time to get ahead of them. A cushion helps when unexpected things pop up.
I have been buying some stuff, as many of you know, but I am buying right. That is I can sell it at a decent price to the buyer and still make a few bucks. This is in my mind on most of my recent purchases.

Do I sell to raise money (the third question rehashed). No doubt about it.
As many know I work in a coin shop but how many remember how I got there?
For five years I did painting and drywall repair. All subbed to the same guy who basically taught me all I know. I was in retail before that..
Construction came to an abrupt halt. My 60-70 hour weeks and nice checks quickly dried up.
This prompted me to stop at the local coin shop (they hadn't seen me in months) to pick up supplies as I realized I might have to start doing some serious selling.
Gold and silver were both high and my now boss offered me a part time job. I discussed it with my painting boss and he said go for it. I respect both of these guys for looking out for me.
Well, I've been working full time at the shop for 10 months now.
The pay is not as good now but I get by for the most part. Mortgage, utilities, car insurance are all paid. Credit card balance of zero.

Luckily I wasn't out "spending stupid" and ringing up debt when money was good. My mortgage was paid ahead as were my utilities. No credit card balances. I try to maintain this as much as possible even when it's not so good.
Had I not been this way I would have had to sell off a lot more. I know it's really bad when that time comes and tell you all this. I see it EVERY day at work.

 

Come On Spence - you have better tastes than that :goofer:

 

I answered no to all three. My situation is such that I'm actually able to add to my collection. Nothing fancy, or real expensive, but thankfully I'm still able to indulge my hobby.:smile

 

yes,yes,yes. I've been laid off since November, and tore a rotator and won't be able to climb trees for a while. Yes, I am a tree climber.

 

I to am looking to sell in the very near future. And yes to raise funds for covering various expenses. Not from job loss thankfully, but from two surgical aspects my wife had last year. This has stretched our dollar so thin that I haven't bought a coin since April of last year, and I don't see myself buying anything new for a while to come. Things have gotten so out of hand all of the sudden with our cash flow, that we are actually staving off foreclosure by the skin of our teeth.

I'm not looking forward to selling my coins, but I will start with the small ones and work my way upwards if need be. Sadly most will be at a loss since I was not able to hold them long enough. But, tough times call for tough measures. So, keep an eye out for some error and variety stuff coming to a certain website. lol (trying to keep my chin up)

 

I checked no to all three and commented that being of unsound mind and body I've been slowly gifting away my collection to a group of young kids I love and have known since they were basically knee-high to a grasshopper. Well, that's maybe not exactly the way I said that, but in so many words...

 

I answered no to all three, because my collection is not for sale. I did not figure in the other side at all, it does not apply.

I do like the thought of the added exposure tho

 

I have sold some odd stuff that was not core to the collection and my normal bank box finds last year, Not for any expenses really, just did not have interest in it, but this year I am holding and not selling. I will probably sell the horded up bank box finds at some point.

I have bought some odds and ends... but nothing big.

 

I only answered yes to the plan to sell question. I will cash out my roll search bullion to get some .999 fine. I will not sell to pay bills! If it gets that bad, I'd rather have my collection then have 1 more month of a place to live and debt.

 

Yes to all three... but not because of the economy. I am "spring cleaning" while the market is still pretty good (lots of minuses in the gray sheet lately)
I am getting rid of my white coins, lower grade coins, problem coins, etc.
I am also getting rid of a lot of unfinished collections I never plan on finishing, in order to direct funds to sets I want to finish.

 

Yes, Yes, No. Selling duplicates when I can upgrade.

 

As a dealer we are getting more and more offers to buy coins. Both from individuals and dealers. Many inherited coins being offered and it seems to be growing every week. I do believe the economy is having an effect on people in trying to make ends meet.

On the other side I am finding a lot more sales to wealthy people as they see a buying opportunity here. In the last 6 months I have gained 9 customers living on Park Avenue, in New York, in the Leona Helmsley condo building. Remember her as the "Queen of Mean".:goof:

I monitor the market pretty well and find lots of the stuff coming on the market is sort of generic merchandise. Proof sets, Mint sets, etc. Not too much in quality older choice coins which I believe means the coins are not really coming for true coin collector estates ... just the novelty buyers.

Anyway, that's my opinion for what it's worth. :kewl:

 

I mentioned in the survey, that I have actually branched out. I can't presently continue collecting my remaining higher priced and older silver Canadian decimal coinage, so I am collecting Lincoln cents, AU or BU bright examples starting with the most recent. (With the exception so far of the 2009. UGH!! Why the big premium on this thing??).
I love to collect and thought this would be a cheaper mode of collecting while still being provided the thrill of collecting and learning something new.
I must have acquired 160 so far in that grade, all 3 mint marks if issued, and haven't spent more than 100 bucks. All my known dealers in the Toronto area have been cleaned out, and now I have turned to ebay and am taking advantage of S&H incentives to minimize the premiums you pay.
EDITED--Sorry, but no offers to buy/sell/trade please. That is what the OPEN forum is for.

 

Sell my coins to someone else; never; they would stay up all night crying and asking where's daddy

 

I think the econony has affected everyone in one form or another. The job market is the worst its ever been. If it come to the point where I have to sell coins, so be it. I won't hesitate.

 

While I participated in the poll, I did not leave any comments there. So let me add them in () here.

Question 1 - No. (Apart from selling a few doubles and swapping, that is.)
Question 2 - No. (Currently I have no such plans, that is.)
Question 3 - n/a (And thus not answered.)

My personal situation has not changed much, or maybe not yet; I'm in Europe. Also, I have never considered my collection to be an investment, and what I have in my collection is not really worth being taken to a dealer. Since I do not spend a fortune (not even a small fortune ) on coins, I hope that I won't have to change my collecting habits due to the economic situation ...

Christian

 

No, No, and No!

I collect mostly Australian coins, tradesmen's (and some other ANZ) tokens and selected attractive world silver. I did take an opportunity last year to stock up on duplicates of several aluminium bakery tokens, and also a bunch of early silver kangaroo dollars, both with a view to resale. But the tokens show such interesting varieties, and the roos are just so damn beautiful, I really doubt I'll part with any of them! ;-)

Luckily, my enforced retirement (due to chronic illness) is funded by income insurance which is indexed to the CPI, so I haven't really been affected by the current economic conditions. However, I expect a lot of the commoner coins will continue to lose value for most of 2009, so some judicious buying could be in order. Oh, for the days when I paid more for my daily coffees than I now allow myself in pocket money! Then I'd really go to town ...

My sympathy to those who are forced by present circumstance to part with some of their dearly-loved friends. I know how much it hurts - in past decades, I've already had to part with a specialist Australian stamp collection and a solid Australian pre-decimal coin collection, both of which I'd been building all my life to that point. My advice - if you need to, go the whole hog and get the best possible deal for an entire collection. That way, you can stop worrying about what you may have to sell next - and you can start to build your next collection, in happier times, with a clean slate and the benefit of your accumulated wisdom.

 

I'm not selling the better stuff, but I have dumped a bunch of junk silver in the last month.

Unusual for me, since I would have hoarded it before.

 

I am always selling and buying but that is mainly because I change my mind I like I change my underwear!!

I like the challenge of finding new coins for my collection!!