Purchases During Hard Times? Vote

IMO, If you have the money, hard times should create buying opportunities. Alsom I would think those who buy/check rolls from banks would see an increase in older varities too.

I agree with a lot of what has been said. I have found that the value of my collection is somewhat stationary. Mainly because, although numismatic premiums on coins are going down, the coins valued heavily on their precious metal content have gone up in value. I agree with what DNA just said, that it is wise to purchase coins that are better dates, but still influenced heavily by their precious metal content. Instead of Morgans, I lean towards high AU pre 1933 gold with my collection, and I feel more confident purchasing numismatic coins that are highly collectible, but retain a strong precious metal backbone.

I would like to add an additional, to this discussion. I was at my favorite coin dealer yesterday and for the first time in my life there was a sign on the door indicating where the line to sell silver and gold was to form.

I was there to purchase a 1987 $50 Eagle and at that time it was very quiet. After spending about an hour discussing, metals and paper products of the financial nature we had both realized that hard times are still to come but there was a larger lesson learned!

My dealer informed me that many people have come and because of poor financial conditions wanted to sell their collections. Unfortunately, he was only buying a few things as many did not want to sell for what he was offering!

The man I deal with is about as fair and accurate on pricing as anyone I have ever seen. However, 60% of the people that were coming in were bringing things as such as the new clad Buffalo being advertised currently all over the TV and things through the Morgan mint, among others. Many received a rude awakening to the realization that what they purchased was junk!

So I guess what I'm trying to say (not many on this board would ever purchase crap like this) is make sure that you have considered the base metal value along with other factors when purchasing collectibles.

PS on my way out the door three separate people were on their way in with bags full of coins and I even saw some Confederate paper that I'm sure they were going to sell. Makes me sad!