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Keeping Numismatics Alive During The Pandemic

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USSID18's Avatar
5464 Posts
 Posted 04/13/2020  10:45 am  Show Profile   Bookmark this reply Add USSID18 to your friends list Get a Link to this Reply

Quote:
I think I see more coins on the horizon.


I guess that's because you're getting a stimulus check, right?
Edited by USSID18
04/13/2020 2:08 pm
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jbuck's Avatar
United States
188660 Posts
 Posted 04/13/2020  1:59 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
I guess that's because you're getting a stimulus check, right!
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Joe2007's Avatar
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3843 Posts
 Posted 04/13/2020  6:22 pm  Show Profile   Bookmark this reply Add Joe2007 to your friends list Get a Link to this Reply
Some thoughts I've been pondering;

Just curious what impacts the Coronavirus pandemic is having on the numismatic community with almost all the local coin shops closed down for the foreseeable future and with coin shows not occurring. A few of the bigger auction firms like Stacks seem to be still selling currently but who knows for how long.

I would expect that it would be much harder to sell a collection or hoard of precious metals right now especially for those not in the hobby, not knowledgeable about what they have and who rely heavily on coin shop and cash for gold type buyers. The numismatic logistics chain of buying wholesale and then selling it up the ladder and then finally to retail buyers is broken when local coin shops are shuttered. What happens now to the collections in the "estates" of the deceased? Hopefully they just don't get turned into the nearest CoinStar machine or thrown out by heirs impatient to clear up the real estate.

Are the refineries still open and if they are not what problems is that causing for those that need quick liquidity. Anyone know if the big online precious metals buyers/sellers like APMEX/Provident/etc. are still open in a time where only "essential" businesses may operate in many states.

With the shows on hold, the place where lots of dealer-to-dealer activity occurs I wonder what happens. What percentage of coin shops will be able to weather the Coronavirus pandemic and how many will have to close their doors permanently? As we spiral towards 30% unemployment will collectors have the discretionary funds to continue to collect?

Your thoughts please -- stay safe out there!
Joe
Edited by Joe2007
04/13/2020 7:13 pm
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tdziemia's Avatar
United States
7941 Posts
 Posted 04/26/2020  09:30 am  Show Profile   Bookmark this reply Add tdziemia to your friends list Get a Link to this Reply
I can't comment on dealers, but most auction houses I follow are maintaining something close to their planned schedules. Some in Italy have delayed auctions, but most elsewhere seem to be staying on schedule, only cancelling the "floor" part of the auction, and moving to 100% online bidding for now.

FOr the narrow places I collect there is no evidence of price drops, and I am pretty sure that spring auctions have yielded record prices on certified examples of many types.

While empathizing with those CCF members whose employment has been affected, I am a little curious if anyone specifically earmarked a part of their 2020 stimulus payment (so .. we are talking U.S. members) for coins, since many of us have already received it.
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