Is the economy affecting your coin purchases?

[4to2CentBCphilia]

A pretty simple question. I know that the collecting community has a wide variation in buying abilities. I want to see how the global economy is affecting buyers.

[Will Hooton]

A students life combined with a tight economy has pretty  much forced me to go cold turkey coin spending wise........but I expect I'll survive for the next 6 months. In the meantime, I'll have to be content drooling over Forums catalog! 

[areich]

I'm not really affected by the economy, whether it's supposed to be good or bad.
To me, economy, like natural disasters, is something that only happens on TV.
I did, however, increase my coin purchases in the short time when the dollar went down and
the prices had not yet risen accordingly.

Andreas

[Potator II]

Hi, I ticked " I am buying as usual, but only good deals" which is not completely the right answer.
The total amount of my purchases along a year has not changed, but my habits have changed. As stated by Andreas, as the USD was very low compared to euro, I've bought consitently from US dealers instead of european. Probably in a short future I will go back to european dealers as things are changing one more time

Regards
Potator

[maridvnvm]

I ticked "I have greatly reduced my buying" as I have all but stopped buying coins for the moment and have in fact started to part with large chunks of my collection due to the economic downturn and my employment situation  .
Martin (Still in employment but only just... it's a long story!)

[larry c]

I'll echo Potator, I've been more selective lately with the same dollar amounts, but it does seem bidding is a bit slower lately.
There have been some very good deals out there, people are not just
bidding outrageously on every coin offered.
With the economy slowing and cost of goods & services going up
there's less competition between buyers in the market.
How bought our dealer friends, have you noticed any impact?

[Jochen]

I think my interests in ancient coins are spread so wide that economical conditions - as far as there are not dramatic changes - will not affecting my buying behaviour.

Best regards

[silvernut]

Happily, I'm not too affected by the global economic downturn, even though I work in banking! (Fingers crossed...). My spending levels are similar or slightly north of last year's. What I have noticed, however, and has me baffled a little, is that prices have been going up steadily over the last few months! Have you all noticed the same thing? I mean, it would appear that with less bidders and buyers, prices would suffer!

Regards,
Ignasi

[Bacchus]

The general economic conditions have not affected me but personal ones certainly have.  Houses are not cheap to build, and children do seem to want fed EVERY day so something has to give 

Malcolm

[romeo]

living in the uk i have found i have been buying a lot more from the us because of the good exchange rate

[Sylvianus]

Sadly the Aussie dollar is heading south after having been at near parity with the $US a few months ago. If this slide keeps up I will doing a lot more bargain hunting and taking advantage of FORVM's generous layaway scheme!

Regards,

Leigh

[Brian L]

The economy has not affected my coin budget.
I just cut back on food,gas and other non essentials.

[casata137ec]

What I have noticed, however, and has me baffled a little, is that prices have been going up steadily over the last few months! Have you all noticed the same thing? I mean, it would appear that with less bidders and buyers, prices would suffer!

Regards,
Ignasi

I have noticed the same thing, one the problems is that the dollar is so freakin weak. As for changing my spending habits, no, they have not changed at all. What I tell my wife is this: either a) the economy will collapse, and if that happens it won't matter if I want to buy coins or not, it will be nearly impossible to justify a hobby over family food or b) the economy will get better and this "bad economic time" will be nothing but a memory. Either way, I can't do a thing about it so why worry.  I've eaten government cheese before and am not above doing it again! 


Chris

[4to2CentBCphilia]

So................................anyone want to change their votes?

[aj]

Not at all. It has been crystal clear for a considerable period of time what was going to happen.

That fact that Congress adjourned for a 'holiday' before taking at least some action no matter how token rather smacks of either supreme arrogance or supreme stupidity.

Time will tell which it is.

[AlexB]

A deal will come, banks will lend again albeit in much reduced tentative form for a while. However Im not sure there is enough money in the world to sort out the toxic debt..at least not over a short period. If you have a healthy personal balance sheet, you will get credit. If not, you will not or will have to pay punitative rates. The thing noone talking about is insurance companies. Banks get found out as they mark to market..insurance companies do not for their large holdings of debt and structured products. AIA came out because they invest in and manufacture product. Majority just invest into them. Now, mark to market or not, the auditors who sign off on accounts will be wanting to keep their reputations clean(er). Expect bad news I think from insurance and therefore for us all.

As for coins, lots of speculation in there for sure. Expect lower prices all round, except maybe the very best stuff. Still plenty of wealthy buyers of that albeit other falling pillars of their empire may force them to think again. Long term quality is always in demand.

Change like this is cyclical. We had it too good for too long, dont even think you can politicise it, whomever was in power would have let it run. However a return to common-sense living and thinking always good in the long-run. Just manage your expectations.

The meek shall inherit the earth they say, so buy a meek

Alex

[slokind]

Anything as serious as in my childhood certainly will affect, shall I put it this way, both supply and demand.  My childhood was economically a wholly different world.
Pat L.

[4to2CentBCphilia]

A deal will come, banks will lend again albeit in much reduced tentative form for a while. However Im not sure there is enough money in the world to sort out the toxic debt..at least not over a short period. If you have a healthy personal balance sheet, you will get credit. If not, you will not or will have to pay punitative rates. The thing noone talking about is insurance companies. Banks get found out as they mark to market..insurance companies do not for their large holdings of debt and structured products. AIA came out because they invest in and manufacture product. Majority just invest into them. Now, mark to market or not, the auditors who sign off on accounts will be wanting to keep their reputations clean(er). Expect bad news I think from insurance and therefore for us all.

As for coins, lots of speculation in there for sure. Expect lower prices all round, except maybe the very best stuff. Still plenty of wealthy buyers of that albeit other falling pillars of their empire may force them to think again. Long term quality is always in demand.

Change like this is cyclical. We had it too good for too long, dont even think you can politicise it, whomever was in power would have let it run. However a return to common-sense living and thinking always good in the long-run. Just manage your expectations.

The meek shall inherit the earth they say, so buy a meek

Alex

Funny thing is as I was reading this response, I was thinking "Wow, what an astute and accurate grasp on the situation".

Then I realized It was Alex's post......................I wouldn't have expected anything less.

I just went out and purchased several thousand meek.

BR

Mark

PS Please get your Asian markets back in line, I have shifted in that direction.

[CzarMike]

coins are like gold(and sometimes are) and don't really loose value, unless a big hord is found. so i buy more

[AlexB]

PS Please get your Asian markets back in line, I have shifted in that direction.

Give it time, give it time. Its also very stock selective!

Brgds

Alex

[CzarMike]

Buy some SHW  its done me well

[commodus]

coins are like gold(and sometimes are) and don't really loose value

Well, it depends on who buys them! They may not lose value as a rule but once something enters my collection it is unlikely ever to leave. Collecting for me is not investing and it would be foolish of me to justify it that way. I think this is the case for a majority of other collectors as well. For me, when I invest in something, it is in order to sell it later at a profit. Coins, however, are my hobby and my passion. I do not intend to sell them -- ever. Therefore they are not an investment in the literal sense. Of course, I take a degree of comfort in the knowledge that I could sell them if need be and, unlike say electronics or even a car, they would have held their value or even gain value.
I will have to be in mighty desparate straits before I would even consider selling my Roman coins, however!

As far as buying goes, I've slowed down slightly perhaps but not too much. Check back with me in a few months after this depression really takes hold; I may have a different answer then.

[Ghengis_Jon]

I have noticed that prices have inched up in the last year or so.  I haven't decided whether its the pounding the dollar has taken or my tastes have become more refined.  I still buy what I collect regardless of price, but I have stopped buying coins frivolously outside my themes just because they strike my fancy.

[Arminius]

Fortunately not.
So far things happen as Emmanuel Todd had predicted about seven years ago.

I expect the stabilizing forces will control this chaos sooner or later. But how many people will have to find out that we can´t eat money, shares, certificates and whatever these financial bubbles might be called.


A.

[Metrodorus]

For me it's a bit complicated.

On the one hand, the dollar has taken a severe pounding, so it's forced me to save more of my money. On the other hand, the supply & demand of ancient coins on the market, the refining of my taste in certain ancient coins, and combined with me being a college student, have also contributed to my financial policy with buying ancient coins.

Result: I've been buying less ancients than I have before.

However, that won't completely stop me from collecting ancients.