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With rising unemployment when will coin market crash?
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<p>[QUOTE="calcol, post: 4519895, member: 77639"]I agree folks that own a 5-figure coin will likely have enough liquid assets to last a few months. But the economic downturn will last a lot longer than a few months. Until the prevalence of covid-19 becomes very low, my wife and I will not go to a restaurant, theater, sporting event, exposition, bar, museum, etc. nor will we ride any form of public transportation nor stay in a hotel or motel. Mostly we go out for groceries, fuel (and use less of that these days), and to health providers. There are lots of others who will behave similarly. As many folks have said, the virus, not politicians or bureaucrats, will decide when the economy will re-open.</p><p><br /></p><p>There are plenty of unemployed folks who had a 6-figure family income and don't have a lot of savings in the form of cash or equities. But they do have monthly obligations and needs like mortgage, car loan, student loan, food, utilities, etc. Not many of these people live in a double-wide and drive a 2000 Corolla. The cash and non-tax-deferred equities will go quickly. Tough decision on the tax-deferred assets. In some cases, it will be lose the house versus less income in retirement. However, some of these folks do have nice coin collections, including some 5-figure coins ... had to have a '89 to complete the CC Morgan set. Most will elect to sell the collection before they give up the house or tax-deferred assets. That's when increasing supply will depress prices. And I really hope I'm wrong.</p><p><br /></p><p>Cal[/QUOTE]</p><p><br /></p>
[QUOTE="calcol, post: 4519895, member: 77639"]I agree folks that own a 5-figure coin will likely have enough liquid assets to last a few months. But the economic downturn will last a lot longer than a few months. Until the prevalence of covid-19 becomes very low, my wife and I will not go to a restaurant, theater, sporting event, exposition, bar, museum, etc. nor will we ride any form of public transportation nor stay in a hotel or motel. Mostly we go out for groceries, fuel (and use less of that these days), and to health providers. There are lots of others who will behave similarly. As many folks have said, the virus, not politicians or bureaucrats, will decide when the economy will re-open. There are plenty of unemployed folks who had a 6-figure family income and don't have a lot of savings in the form of cash or equities. But they do have monthly obligations and needs like mortgage, car loan, student loan, food, utilities, etc. Not many of these people live in a double-wide and drive a 2000 Corolla. The cash and non-tax-deferred equities will go quickly. Tough decision on the tax-deferred assets. In some cases, it will be lose the house versus less income in retirement. However, some of these folks do have nice coin collections, including some 5-figure coins ... had to have a '89 to complete the CC Morgan set. Most will elect to sell the collection before they give up the house or tax-deferred assets. That's when increasing supply will depress prices. And I really hope I'm wrong. Cal[/QUOTE]
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With rising unemployment when will coin market crash?
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