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 Replies: 24 / Views: 2,437 |
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Valued Member
United States
373 Posts |
In light of the three major government bailouts in the last year - Bear Stearns, IndyMac, and Fannie/Freddie, if the dollar does go away, what would that do to the hobby of coin collecting? Would people be stockpiling all the dollars they can find?
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Moderator
 United States
16677 Posts |
I imagine the various dollar coins would increase in popularity as far as collector base. The Morgans have always been a popular series. If you are referring to the new dollar coins, again, collector base. The various plain edge varieties obviously are worth a substantial premium but as far as the others, will never be worth much except for the higher graded coins.
swcoin.ecrater.com
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Moderator
United States
187950 Posts |
I am not sure I understand the complete context of the question. Are you contemplating the demise of the US dollar as a viable currency?
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Rest in Peace
United States
9104 Posts |
Quote:
The Morgans have always been a popular series. Except, of course, for the first century or so. That's why they melted down hundreds of millions of them. |
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Valued Member
United States
80 Posts |
IMHO If the dollar did collapse, at least people would start stock piling any coin that has real bullion value. Ex. Gold, Silver, US nickels, and the lowly pre-1982 penny.
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Rest in Peace
United States
2668 Posts |
The dollar isn't going away. It's a new movie from Texas called 'Honey, I shrunk the dollar!'
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Bedrock of the Community
United States
20753 Posts |
In a realitic sence there will soon be no more monitary systems like ours. Europe has attempted to standardize a monitary system even now. That too will soon be obsolete. With world trade continuously growing, a need for one type of monitary system will become a necessity. The only possible solution I can forsee is all computerized systems with credit or debit types of cards. No more coins or currency. Even now gas stations, stores, restaurants, etc are going more and more towards electronic systems preferibly over money. Even gambling houses are doing away with money as we know it. When my Son was in college he carried very little money and hardly ever used any. Gas stations and stores of any kind were done with plastic. The school cafeteria was set up for plastic primarily. To this day my Son seldom ever carries money anywhere.
No, the fate of our dollar is sealed in a no longer required future.
The next time you go out anywhere, notice how many people do not use cash.
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Valued Member
 United States
373 Posts |
If we go to a cashless society, I suppose coin prices would rise, or am I mistaken?
jbuck... I am contemplating the demise of the US dollar as a viable currency.
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Moderator
United States
187950 Posts |
That is what I thought, but I did not want to assume anything.  So, to give my input to the topic... No matter what the currency is, I am sure people will still collect coins and notes. Of course people like me, the ones that like to collect (mostly) from circulation, will have to shift gears. I am sure collectors will get all of the boxes, rolls, and bags they can, assuming they are still available. Once all of the "US Money" has disappeared from circulation, it will be like any other "dead" currency; probably traded or sold on ebay using PayPal credits or whatever system replaces the dollar. IMHO, the dollar will probably evolve into an all-electronic medium long before it ever ceases to exist. |
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Bedrock of the Community
United States
20753 Posts |
Like I mentioned it is already started and will soon enough be a monitary currency, coinageless society. Eventually all transactions will be electronic so as to eliminate the necessity to transform from a Asiatic, European, Australian, etc type of monitary system. No one will have to wonder if that China Toy with all the Lead is a dollar or what. It will simply have a notation of some sort on it, you use a credit or debit card and the amount is automatically transacted.
Fantastic for coin collectors of today though. Note the stoppage of the Roman Empire's coins did not stop people from collecting them. The stoppage of our 2, 3 and 20 cent coins did not stop people from collecting them. Once all our systems become electronic, our present coins and currency will become more and more valuable.
Of course our Mint will still be making commemoratives for at least another few hundred years.
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Pillar of the Community
United States
2335 Posts |
I wouldn't be at all surprised if we end up with a cashless society like just carl suggests, & think that is inevitable over time.
I seriously doubt the US Dollar will stop being a viable currency at any time in the immediate future. If the US dollar collapsed you might as well crawl into a hole & pull the dirt in after you. At that point steel & lead(guns & bullets) will be more valuable than silver or gold.
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Rest in Peace
United States
9104 Posts |
Quote:
If we go to a cashless society, I suppose coin prices would rise, or am I mistaken? Most US collectors collect Lincolns. Why? Because everyone has a pocketful of them. Certainly people collect 20¢ pieces, but I've never heard of anyone starting their collection with them. If we have a cashless society, where's the seed to get people started collecting coins? |
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Pillar of the Community
United States
3499 Posts |
I have a feeling that rather than immediately switching to a purely electronic format there would have to be something like ta RentenDollar or something of the like just to stabilize the economy.
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Moderator
United States
187950 Posts |
I do not think we will just suddenly switch to an all electronic format. I think that it is something that will happen over time. Everyday, every week, I am using cash less and less; and I pay all of my bills electronically. I am sure I am not alone.
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Valued Member
United States
130 Posts |
JustCarl and Trdhrdr007 - what if that scenario becomes true (I agree, BTW) and the government recalls and melts all coins? Hmmmm. I wonder if we'll put a couple away?
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Pillar of the Community
United States
3294 Posts |
Can the government legally recall coins? Are we just renting the coins from them or something?
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Replies: 24 / Views: 2,437 |
Posted 09/13/2008 9:44 pm
