Has your coin purchasing been affected by the great recession?

I just started collecting about a year ago. I started with Peace Dollars because I love the young, hot depiction of Lady Libery on them. I also think its cool to imagine one of my coins in Al Capone's pocket as he entered some speak easy in Chicago....

Over the past six months I have bought about 1000 oz of silver as a hedge/investment. That's enough for me and I'm starting to look at higher end Peace Dollars and key date coins of other series as an investment.

I'm not one of those guys that wants to collect all the coins in a particular series. A few very nice, gem quality, examples of a series is plenty for me.

 

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Yep! Even though I have a few bucks to go out and buy, I feel as though my money is better kept under the mattress so to speak. I work in construction which means that I work to work myself out of a job. So I will play it safe and wait until the economy picks up and coin prices level off.

 

My purchasing is about the same I guess. Haven't been effected by the supposed recession, but I see my own recession about to start as I have two kids getting ready for college.
Guy~

 

What I have noticed in the currency (Paper Money) market is that fewer high grade small size notes of Series 1928 thru 1934D are staying in a state of low frequency. Perhaps this is due to a correction, however, the really high grade pristine articles show up only at Major Auctions where the $$$$ flows freely.
For Large Size Notes.. the really nice pieces still retain their elevated levels with small upward movements as well. Depending on what you are after, the quality of grade and scarcity (as with coins) greatly ascends the upward price point.

In an effort to add some missing small size note to my collection I have purchased only 2 Large size this year....so my spending has been less than years past and I have 3 target notes (Large Size) hanging in the balance.

RickieB

 

Not so much by the recession but I am being more selective of the coins I purchase as I am leaning more. Would rather have a few real nice coins than a bunch of not so nice coins.

 

I am purchasing about the same as I was before the recession. Since I don't buy gold coins, because I can't afford them, it's not much a problem with the recession.

I buy proof sets, and individual proof coins mainly, but do like to add raw older coins such as Morgans and Peace dollars.

 

Less because money is needed elswhere. The company has cut way back on the OT so my hobbies have paid the price due to the income decrease.

 

My coin budget from last year is about the same for this year.

 

I just started last year so I can't really say that I've increased my spending. However, the recession hasn't slowed me down. I am still employed and I feel more secure in my job than I did a few years ago. Now, if I was nervous about my job, then yes I would slow down.

Also, I see my coins as a hopefully appreciating asset. If things really fell apart, I could sell them.

 

DEBT DEBT DEBT DEBT DEBT DEBT. and then MORE DEBT. This just gotta end, these ten year runs, and NOW five ounces of silver a pop. Holey Moley.

 

I have had to totally stop buying because of the financial issues my family is having. I don't think I'll have to sell what I have, but if ANYTHING unexpected comes up, I will have to sell something. (I actually have an autograph of NASCAR legend Dale Earnhardt that would probably bring me $700, that is what would have to go first, before the coins or currency...but some of my redundandt Star notes are possibly going to have to be spent)

By literally not buying ANYTHING I hope to be able to get through and not lose anything.

 

I've been watching a plethora of better date/condition coins come through the local stores where I am at, so I know that if I don't buy it now while it is on the market it could be years before it gets back onto the market.

 

I am purchasing more because I have the time. I am not working right now (I do consulting work). I have bought a few things for my collection but I have quite a bit tied up in coins pullled from circulation. I am hoping to profit as the economy improves. I have a feeling that tying up thousands of dollars in coins that I pulled from circulation at face value will yield more than the stock market will.

 

When I first started collecting coins again around a year ago, I was buying coins like gang busters!! Now that I have been able to realize that I was moving way too fast for my income bracket, my waiting period before buying another coin (off my wish list) is alot longer than it used to be.

 

Hard to say really. I finance all purchases through sales of my stuff as well as supplies, etc. I know the disability does not stretch as far as it did and items I sell don't bring quite what I think they should sometimes. But items I chase cost less. As a hobbyist, I don't think it (recession) has made much difference.

 

At the time the ban on melting copper is removed, you will likely triple your investment in cents anyway, possibly more depending on copper production costs. IMHO

 

I'm purchasing less for a couple of reasons not listed. I buy more when I think coins are underpriced and sell when I think they are overpriced. Right now, I think prices are pretty close to where they should be, so I'm being more selective.

Second, I don't really collect! I accumulate "stuff" that I find interesting rather than trying to assemble registry sets or obtain all types. Right now, I don't own a significant complete set of anything. Instead, I buy what interests me.

Over the years, I've gotten some pretty decent examples of the issues I want. Yeah, there are always nicer examples available for purchase, but those "holes" are filled. I'm in no real hurry to trade up. For example, my 1804 "dollar" is only in EF and has a bit of weak strike ...

 

Many interesting situation being expressed here. Some doing well, some hurting and some hanging-in-there, waiting-it-out. The message coming through is that most are finding their cup to be at least half full. That's encouraging.

The returns being realized from money market funds is below the inflation rate. Therefore, as investments they are losing money. Dumped enough of them to fund installing a solar hot water and 30-photo voltaic panels on our roof. The system generates and pumps enough KWHs into the grid during sunlight hours, so it more than offsets what we use during hours of darkness.

The Hawaiian Electricity Co burns both trash and oil to generate our power. The additional 2500-mile trip from the west coast to HI adds extra $$$ to HECO's operating expenses. Therefore, our monthly billing approaches that of a car payment. Both of my sons run their businesses from our common home, explaining our car payment-type utility bill.

Since I covered the up-front cost of our owner-generator system, I get to use our former payment to HECO as I see fit. My most trusted coin dealer will, indeed, do well.

 

I'm addicted to buying from provident metals...kind of bad, but i've made an order like once a week for the past couple weeks

 

I'm buying more especially from the mint. The recession is lowering mintage and I'm thinking that the 2009 and 2010 coins will have some value in the future.