From the November 9th Numismatic e-newsletter: Will the coin market improve now that the election is over? Here are some answers sent from our e-newsletter readers to Editor Dave Harper.
The stock market may decline temporarily due to new regulations, but that will be short. I feel metals will rally and reach new heights.
Samuel D. Causey
Who knows? A lot will depend on the handling of the fiscal cliff. Will people have enough disposable income after taxes to further their collection efforts?
Some will continue to accumulate bullion until things settle down, others may find an opportunity to pick up affordable coins while there is still uncertainty.
No matter what happens, my personal belief is that silver and gold numismatic coins will always be valued.
Palm Coast, Fla.
No, it won’t improve. What will improve the coin market is a change in the politicians in Washington, i.e., throw them all out and start over. I stopped my subscription to NN because you guys are located in Wisconsin, a state that voted for Obama.
If others are like me – we are afraid of the fiscal cliff.
The last coin I bought was in March and I used to spend $4,000 to $5,000 a year. This year I spent less than $600 and do not plan on spending anything for the next several months until I can figure out how all of the new laws, taxes, and regulations will affect me.
The sales of gold, silver and platinum coins and raw metals will probably increase but at a slow pace for a while.
If the two political parties cannot get together and start working on getting the economy aback on track then the precious metals will continue to rise fairly rapidly.
It all depends upon what our elected officials in Washington do. Let’s hope that they can finally put their petty attitudes aside and start doing what is best for and country.
It is not what the parties think that is important but what this country needs that matters. We need to stop thinking as a two-party system and begin to work on what is important to the country as a whole.
John T. Tinney
Personally, I am holding on to what I have. My answer is no.
There is still the fiscal cliff to climb.