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Pillar of the Community
United States
5318 Posts |
 yes...keep your 1856 FE if you can. |
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Pillar of the Community
 United States
1130 Posts |
The FE is a big decision. Financially, it represents the biggest piece of the pie but it's also the one I'm most attached to (thus my avatar). Maybe I can get by without selling it. I'm also holding on to the Fugio. I just made a list of coins and it looks like the holy grail of classic US coins. It is virtually the key dates of several series in all denominations. No fire sale...I plan to consign them at the next major local coin show. |
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Pillar of the Community
United States
4541 Posts |
Maybe if you had to you could string a deal with someone that if you had to sell it they would hold on to it and sell it back to you when things got better
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Valued Member
United States
164 Posts |
Is it possible that you could use the coins as collateral for a loan? Just a thought. Good luck. I have the feeling that a lot of us are going to be in for hard times.
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Pillar of the Community
United States
1130 Posts |
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Is it possible that you could use the coins as collateral for a loan? Just a thought. Good luck. I have the feeling that a lot of us are going to be in for hard times. The point of raising the cash was to get out of loan debts  I'm still holding my positions on gold/silver bullion for now, just in case the overstretched dollar decides to crash. |
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Bedrock of the Community
United States
20753 Posts |
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The point of raising the cash was to get out of loan debts I'm still holding my positions on gold/silver bullion for now, just in case the overstretched dollar decides to crash.
WHAT? You would rather save a bunch of metal rather than specific coins? If I was in need of cash, I'd ditch stuff that is easily replaced and keep something I like for last possible get rid of. Just me maybe but I'm a coin collector and not big on a pile of metal. |
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Rest in Peace
United States
2668 Posts |
What he said, but sell me some coins anywho.  |
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Bedrock of the Community
United States
19963 Posts |
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WHAT? You would rather save a bunch of metal rather than specific coins? If I was in need of cash, I'd ditch stuff that is easily replaced and keep something I like for last possible get rid of.
Just me maybe but I'm a coin collector and not big on a pile of metal.
I agree, but spot metal prices have declided dramatically. Selling your metals stash right now would probably result in a loss. However, coin prices have not gone down, in fact, they continue to rise, so, from a financial standpoint, selling the coins would be the obvious choice. Lincoln Cent Lover!VERDI-CARE™ INVENTOR https://verdi.care/
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Pillar of the Community
United States
1130 Posts |
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Selling your metals stash right now would probably result in a loss. However, coin prices have not gone down, in fact, they continue to rise, so, from a financial standpoint, selling the coins would be the obvious choice.
Bingo ! I may sell them in stages, instead of all at once...stopping when I have reached my intended purpose. It does sicken me to know how hard I've searched to acquire some of them. |
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Pillar of the Community
United States
1179 Posts |
Sorry to hear this. I hope everything works out the best for you both ways. Good luck!
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Moderator
 United States
189115 Posts |
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May have to liquidate some of my collection in these tough times. Personally, I would go back to ramen, rabbit-ears, and dial-up before selling a single coin.  It is easy for me to say that becuase I do not know your situation. Everyone has their own reasons. I can almost guarantee that your reasons are probably family motivated. That is a good thing.  Quote:
I may sell them in stages, instead of all at once...stopping when I have reached my intended purpose. In my opinion, this is the best idea. If I recall correctly, you collected key dates knowing they would be the easiest and most profitable to liquidate in the event you had to. They have probably appreciated some since you bought them, so you probably have more value in them than you think. Quote:
It does sicken me to know how hard I've searched to acquire some of them. I guess the bright side is that when you are able to, you will have the thrill of the hunt all over again! No matter what you do, I hope you the best and remember you are always welcome here! Edited by jbuck
01/08/2009 11:00 am
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Member
United States
917 Posts |
Im quite curious as to thoughts on the aforementioned hard times and possibile dollar crash. Bullion prices ive seen remain steady yet coins have noticably dropped in value from what ive seen. I watched a 1917 gold dollar go for 355 when the Red Book says 800 in AU which it appeared to be. An Isabella Quarter went for 168 when Red Book says almost a grand , commemoritive halfs seem to be going for half of what the Red Book suggests. It all seems to tie in with the hard times theory and people selling collections,but what I'm thinking is if the dollar does crash its not going to matter one iota whats embossed on a silver piece or gold or any other precious metal.Itll be the weight thats important and of value. In that light it makes much more sense to keep bullion rounds than much more expensive and less weight coins. Im a fence sitter and decided this year to halt major coin purchases unless the price is ridiculously low and buy only Canadian maples. It appeared to be the one coin that had it all , beauty and mint unc issues , value for money and recoqnised weight and purity. |
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Pillar of the Community
United States
1130 Posts |
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what I'm thinking is if the dollar does crash its not going to matter one iota whats embossed on a silver piece or gold or any other precious metal.Itll be the weight thats important and of value Agreed. If financial armageddon ever comes, bullion is more liquid than rare coins. Easier to barter a sack of rice and some batteries for ounces of silver or some gold instead of a 1916-D dime or 1909-S VDB. |
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Member
United States
917 Posts |
To be honest I think a meltdown of the dollar is almost expected now.Almost everywhere I read theres talk of it and what people are doing in preperation.
Some talk more educated than others but always the same idea.
Personally I dont believe the dollar will crash , not anytime soon anyway.Then again I wouldnt know so hedged my bets with buying the maples,a roll per 25 @ $405 wasnt bad.
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Moderator
United States
16679 Posts |
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Agreed. If financial armageddon ever comes, bullion is more liquid than rare coins. Easier to barter a sack of rice and some batteries for ounces of silver or some gold instead of a 1916-D dime or 1909-S VDB Again 1sikevo, we all wish you the very best. Not to get overly political here but who knows where the economy will be over the next four years? Owning physical bullion is a smart decision even though it has experienced a decline recently. As BadThad mentioned, it's an obvious choice to realize the most profit from rare coins over bullion with present market conditions. I'm glad to hear you are paying off some loans. It's obvious to be as far from debt as possible, especially now. I talked this over with my fiance the other night as to what coins I would liquidate if ever the need arises. It's tough. Remember, they are replaceable. Hang in there my friend and hope everything works out swcoin.ecrater.com
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Posted 01/07/2009 01:16 am
