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

"What's coming is different than a recession" Very true, mkb.
Few people grasp the scope of what is really happening right now.

As an example, the notional value of outstanding derivatives has been quoted at or above one thousand trillion dollars, more commonly expressed as one quadrillion dollars. The DOW has lost of 50% from it's peak. 31.8 million Americans are on food stamps. One in three doesn't have a health plan. This is the "perfect financial storm".

I have a few of those!

Notice that the example of "anything else" is also a 'numismatic' item!

I have been doing less impulse buying and trying to adhere to my budget more. This is motivated more by my desire to build an addition onto my house than the economy though.

Don't feel too bad, 1cent, a computer is like a car. Not a 'smart investment' per se, but a tool of everyday life. If you get a long useful service life out of either one after you paid for it, that's the best way to get 'your money's worth' out of a 'necessary' expenditure....

I'm also a 'BYOPC' (build your own PC) person.

My big tailfinned collector car sure isn't holding its value nearly as well as coins have, but it's still doing better than the Dow(n) Jones Ind. Avg. and I still have fun driving it on sunny days! (PS: Now that the economy's in the tank, people aren't making unsolicited offers to buy it from me anymore...)

I'm selling a lot more these days...

If I'm older I would stock up on some ammunition... I would really like a K31 but... erm... I guess the cheap way for a good looking, reliable, cheap and accurate wood rifle would be a M44... with lots of milsurps...

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.