Economic Affects of Numismatics?
So I have a very different blog today. I was curious if anyone knows the economic affects, coin collecting has on silver and gold prices. Also did silver coins (90%) have an affect on the economy? If so how significant was it?
Comments
CoinLady
Level 6
I'd love to see more on this, esp in light of the recent stock market news. I did some research for my clad coinage book, but these events were over 50 yrs ago.
user_74781
Level 3
It would be an interesting topic to do research on, just for curiosity's sake.
Conan Barbarian
Level 5
that is a great topic to research and maybe you can write a paper on it
user_55599
Level 4
I think I will research it to the fullest on do something in regards to that. Thanks for the idea
"SUN"
Level 6
Yes it does in the long term. There was a down turn in 2009, less coins minted that year. Same way in the early 1930's.
user_55599
Level 4
Thanks for your comment! Always appreciated:)
Mike
Level 7
The reason silver didn't go up was because the market has Been breaking records now for a while. It could be one bad day. My secret is to have some stocks and collect metals. But when people lose faith in the market and banking they run to metals. When the market went bad a few years ago silver hit I think 38.00. People lost faith in the system. If you have a nice balance in the market and collecting you should be ok. Well asked question. Just remember if silver does go up on the market that 34.00 eagle is going to cost a lot more!. Mike.
user_55599
Level 4
Very true, I've been buying a few punches of silver coins for the pst 4 months, trying to add to my silver collection.
Kepi
Level 6
That was pretty shocking today with the Dow dropping so much! I have heard that when the Dow drops, gold and silver benefits?? It's kinda a mystery to me... not too concerned at this point. ; )
Well worn Copper
Level 5
I was surprised what with the Dow dropping 1,175 points that gold and silver hardly moved. Guess thats good news.
user_55599
Level 4
That's what i was thinking. I saw it drop and it got me curious.
Mike
Level 7
It's all based on the economy. If the market is doing well gold and silver drop. It's the other way around . The market is doing well silver I don't think can get any lower. It doesn't have any effect on the economy. We owe over twenty trillion dollars. I wouldn't worry about gold and silver. Thanks for the blog. We should path what we owe first. Not worry about the banks and stocks. Mike.
user_55599
Level 4
That's true. I was just curious because I know that there is a lot of bullion being held in numismatics, so I was curious in whether or not numismatics has any significant role in swaying the market. Thanks for the clarification