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<p>[QUOTE="doug444, post: 1504884, member: 38849"]I believe that there's a time coming when a lot of wealthy people will have to dump their collections (of all kinds) in order to maintain their standard of living, accepting fire-sale prices.</p><p><br /></p><p>That sort of casts a pall over "investing" in coins, although I'd certainly want to be holding coins instead of baseball cards, Longaberger baskets, NASCAR stand-ups, or bobbleheads, etc., etc.</p><p><br /></p><p>Everybody's going to head for the Exits at the same time, in the frantic search for liquidity. The amount of household wealth ALREADY lost in this country is staggering, but there's more downside to be dealt with.</p><p><br /></p><ul> <li><ul> <li></li> </ul></li> </ul><p>"WASHINGTON — The typical American family lost nearly 40% of its wealth from 2007 to 2010 as the Great Recession reduced household net worth to a level not seen since the early 1990s.</p><p><br /></p><p>The net worth of the median U.S. family — one with an equal number of families richer and poorer — fell to $77,300 in 2010 from $126,400 three years earlier, after adjusting for inflation, the Federal Reserve said in a new report Monday."</p><p><br /></p><p>This lost wealth is never coming back. We blew it.[/QUOTE]</p><p><br /></p>
[QUOTE="doug444, post: 1504884, member: 38849"]I believe that there's a time coming when a lot of wealthy people will have to dump their collections (of all kinds) in order to maintain their standard of living, accepting fire-sale prices. That sort of casts a pall over "investing" in coins, although I'd certainly want to be holding coins instead of baseball cards, Longaberger baskets, NASCAR stand-ups, or bobbleheads, etc., etc. Everybody's going to head for the Exits at the same time, in the frantic search for liquidity. The amount of household wealth ALREADY lost in this country is staggering, but there's more downside to be dealt with. [LIST] [*] [LIST] [*] [/LIST] [/LIST] "WASHINGTON — The typical American family lost nearly 40% of its wealth from 2007 to 2010 as the Great Recession reduced household net worth to a level not seen since the early 1990s. The net worth of the median U.S. family — one with an equal number of families richer and poorer — fell to $77,300 in 2010 from $126,400 three years earlier, after adjusting for inflation, the Federal Reserve said in a new report Monday." This lost wealth is never coming back. We blew it.[/QUOTE]
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