How Is The Current Rece$$ion Effecting The Way You Buy Coins

1cent - I read the article you posted. Its a good one and also a good site. Thanks.

The article describes the problems quite well, and what is happening. What is not mentioned and you rarely find it in any commentary is that the only way to restore an economy is to have it create wealth - which can only be done by manufacturing. This is what brought the US out of the Great Depression. WWII forced the US government to ramp up manufacturing on a massive scale. After the war, much of the war related manufacturing converted to producing consumer goods. Little of the Government's current stimulus efforts will be directed in this way because it involves protectionist policies. Worse yet, almost everyone is arguing against protectionist policies - since they were bad in the past. This is only making things worse. That may have been true in the 1930's, but its not true today. And even with a concerted effort at restoring manufacturing, it will take in the area of 10 years or so to bring things back to a reasonable standing.

Here's another one from Gerald Celente (and this is not for the faint of heart):

http://www.infowars.com/celente-pre...ons-by-2012/

I expect commercial real-estate to be a major shoe to drop in 2009. Already there are reports of massive over capacity in former hot markets such as Beijing and Dubai. I am aware of a major commercial development that was completed in 2001 - about a year after the dot.com bust started. Most (or all?) of it is still vacant - 8 years later.

I have had to put my Canadian collecting on hold, as all I need now to complete it are the expensive silver low mintage key dates pre-1899. I've starting collecting something a little less expensive, United States Lincolns (Wheat and memorials all mint marks)in BU, or AU condition.(Red Only) I've got all the cheapies from 1952 to 2008, and have just been plugging away and the earlier ones. What I do got looks sweet, they just scream shine and luster as they are all lined up in their 2 x 2's . Granted, I know things are going to get more expensive as I work backwards, and may need to slowly lower the grade down starting at EF to accommodate my budget. I did nail a 1936P, and 1941P BU, for a buck each.
I've been cleaning out the Canadian dealers here in Toronto of all the BU/AU small cents,(believe me, they don't have much) and have been taking advantage of S&H incentives on ebay from the U.S sellers to help minimize the other collecting costs.
The way I feel, I know its not going to make me rich and if I don't over pay for too much of anything, I can't really never loose my money.
I never thought I would branch out into foreign coins. I even bought the complete US Red Book, and the Lincoln Cent Red Book to read up on all of it. (Looks like I may need to nail down the small and large date varieties-double die?..I dunno)
On another note, I'm just amazed at the premium these old small cents obtain, considering the very high millions that were minted. I think its much more invigorating than the Canadian.
April 17-19th, has a large coin show in the Buffalo N.Y area, so I think we are going to drive down there and have a look see. (Just trying to come up with a believable story to tell Canadian boarder guards what I did down there for a few hours without having them suspect I was shopping. (Ya know, duty and all that crap)Looking at Niagara Falls from the American side? From what I recall there really isn't much else down there.

It's true Steve, and I think most people have seen it. Coins that would normally be tucked away are being shaken loose. Lots of top 10 census coins have been available, and as you mention, not just one example, but often multiple examples. For those that still have a steady stream of income, this is a good opportunity.

I just got my new ICCS pop report in the mail today. Wow - no wonder so many coins have been available at top grades. Many, many modern coins have had dramatic increases in population! The 1944 1 cent obviously remains the toughest KGVI 1c coin in MS-65, but the 1945 is the new #2 in the '41 to '45 run, displacing the 1942.

I'm hoping to finish off some sets with the new population-revised pricing!

I still go to the dealers and shows when I can. There are still bargins to be bought. Many USA dealers are just not very knowledgeable about Canadian coins. I tend to take advantage of that situation. Can't tell you how many times that I have walked away with a small fortune in coins for very little expense on my part. Go through the junk boxes, ask questions, don't just limit yourself to coins, ask about paper as well. Do they have common coins, junk foreign silver? Next time you go on vacation to the states, pick a city and canvas all of the coin dealers. You will find bargins. If you can grade and know the varieties that exist and are aware of values, you will have success.

I buy coins when I can. I am finding good deals on coins lately and I think the prices are only going to move up once all the stimulus money hits.

"I've little choice but to reduce my purchases"

One option when cash is limited is to find (an buy) undervalued coins and then resell them. This way you still can be active in collecting and actually increase the the amount of discretionary cash available for purchases. And there are good buys out there, but you have to search for them.