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Have You Cut Back On Your Coin Spending?

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Pillar of the Community

Canada
798 Posts
 Posted 03/13/2020  10:07 pm Show Profile   Bookmark this topic Add JGG to your friends list Get a Link to this Message
Have you cut back on your coin spending because of the Coronavirus pandemic?
Pillar of the Community
United States
2147 Posts
 Posted 03/13/2020  10:13 pm  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply
I've cut back because I spent a small fortune (to me) in late February. I'll revisit my spend in a few weeks, but these weeks in March were going to be lean for me anyway.
Pillar of the Community
Canada
1229 Posts
 Posted 03/13/2020  10:23 pm  Show Profile   Bookmark this reply Add Dcadon to your friends list Get a Link to this Reply
I think it would be more relevant to put a stop to cash sales - maybe that's the ultimate goal of this virus media scare conspiracy. Buying pristine coins from the mint is a lot less risky then coin searching though a local grocery store cash drawer.
Valued Member
United States
223 Posts
 Posted 03/13/2020  11:40 pm  Show Profile   Bookmark this reply Add freddo30 to your friends list Get a Link to this Reply
No,not the virus, but I have cut back because of the sales tax epidemic.
Pillar of the Community
United States
3359 Posts
 Posted 03/14/2020  12:53 am  Show Profile   Bookmark this reply Add Greasy Fingers to your friends list Get a Link to this Reply
The question I'm asking myself is with silver closing at 14.75, should I buy more?
Pillar of the Community
Canada
5352 Posts
 Posted 03/14/2020  09:12 am  Show Profile   Bookmark this reply Add mcshilling to your friends list Get a Link to this Reply
I have cut back on US coin because of the exchange, in the last 2 weeks it's gone from 33% to 38.5% now add what the bank fees are and you are at $1.43 for $1.00 US
Pillar of the Community
United States
2147 Posts
 Posted 03/14/2020  09:55 am  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply
The price of silver is very tempting!
Pillar of the Community
United States
1026 Posts
 Posted 03/14/2020  10:13 am  Show Profile   Bookmark this reply Add CitationSquirrel to your friends list Get a Link to this Reply
I have a little, but mainly because I'm currently in education mode.
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United States
3734 Posts
 Posted 03/14/2020  10:23 am  Show Profile   Check chafemasterj's eBay Listings Bookmark this reply Add chafemasterj to your friends list Get a Link to this Reply
Nope. Not at all. Just hope they don't cancel the coin show I'm planning to attend in a couple of weeks.
Check out my counterstamped Lincoln Cent collection:
http://goccf.com/t/303507
Pillar of the Community
Canada
6634 Posts
 Posted 03/14/2020  6:12 pm  Show Profile   Bookmark this reply Add Silveroid to your friends list Get a Link to this Reply
Wouldn't do it because a virus at this point.

Got a mail from the Mint, says, that the boutiques in the Ottawa and Winnipeg will be closed.
Pillar of the Community
United States
1773 Posts
 Posted 03/14/2020  7:02 pm  Show Profile   Bookmark this reply Add Alpha2814 to your friends list Get a Link to this Reply
Nope. I'd been buying more expensive things less often already, but haven't changed my spending habits because of the virus at all.
Working on: Indian quarter eagles, Chinese pandas, and San Francisco tokens; upgrading my Peace dollar and US Type sets

"Fear is the enemy of will. Will is what makes you take action; fear is what stops you, and makes you weak."
-- Sinestro to (my avatar) Hal Jordan, "Green Lantern" (2011)
Pillar of the Community
United States
2343 Posts
 Posted 03/14/2020  7:27 pm  Show Profile   Check canadian_coins's eBay Listings Bookmark this reply Add canadian_coins to your friends list Get a Link to this Reply
I think the pandemic is certainly affecting a lot of people's behavior. This is not just an economic problem that the central banks can fix. Justified or not, people are scared of getting sick and dying.

Not to be an alarmist, but I'm personally taking steps to protect my cash assets right now more than anything else. When stocks, bonds, treasuries, metals and interest rates all fall at the same time I think this is cause for concern.

So yeah, I'm pretty sure NCLTs will take a beating.





A picture is worth a thousand words.
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United States
1501 Posts
 Posted 03/14/2020  8:47 pm  Show Profile   Bookmark this reply Add fortcollins to your friends list Get a Link to this Reply

Quote:
Have you cut back on your coin spending because of the Coronavirus pandemic?


Yes. The pandemic is affecting travel, permission to hold shows, crowd size restrictions, and spending priorities for many people. I have enough inventory. I need to sell it, and the cancellation of shows and lack of buyers is having a significant impact.

I'm expecting significant downward pressure on many coin prices for at least the short term. I have no interest in selling at a loss in a down market, so I'll be on the sidelines for a while.

On a more personal level, my wife and I are in the high risk age category, and we are taking precautions.
Valued Member
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United States
334 Posts
 Posted 03/14/2020  9:21 pm  Show Profile   Bookmark this reply Add Sharkman to your friends list Get a Link to this Reply
No. I am still unable to control my impulse to buy too many coins.
Pillar of the Community
United States
2343 Posts
 Posted 03/14/2020  10:24 pm  Show Profile   Check canadian_coins's eBay Listings Bookmark this reply Add canadian_coins to your friends list Get a Link to this Reply

Quote:
On a more personal level, my wife and I are in the high risk age category, and we are taking precautions.


Same here.

Stay safe.
A picture is worth a thousand words.
Pillar of the Community
United States
4784 Posts
 Posted 03/14/2020  11:15 pm  Show Profile   Bookmark this reply Add kanga to your friends list Get a Link to this Reply
Heck, no!
I can't physically attend the Stack's & Bowers auction since it's been canceled at the Baltimore Whitman Show.
But I can sure make bids online since they are holding the auction in California.
So if I win I'll be continuing my spending ways.
Describe it as if there were no picture.
Picture it as if there were no description.
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