The Economy and Geocoins

[+ThePetersTrio]

So I've found myself being less impulsive with geocoin buying lately. Maybe that's just because the newness of collecting is starting to wear off. Maybe it's because my taste is more discriminating now. But I have to admit honestly that the doom and gloom of the world-wide economic melt down has caused me to stop and pause before I hit that "purchase" button.

 

I'm in process of having some art put together for our first personal coin. At this time, I don't see a problem with going through with the minting but I gotta admit to being concerned that at some point people are going to stop buying coins simply because of the economy.

 

I'm wondering if the economy is impacting your purchasing and/or minting habits/plans?

 

Are we as a community going to be seeing less coins minted overall?

[+WRITE SHOP ROBERT]

We probably will. For me personally, it hasn't made a big difference yet, but then I have no investments like many others. I also am doing this on a smaller scale I think.

[+BrierPatch]

People have always doomed and gloomed the economy, but in this country we tend to keep working and find cheaper ways to do the same things which always causes the economy to bounce back provided the government doesn't take too much of our money. I think you answered your own question you are probably alot better aware now of what you like and what you want. After all having is not the same as wanting. The economy has had no effect on me personally except that gas prices are dropping allowing me to drive a little more. Where I work I still put in 50 to 60 hrs each week.

I look forward to seeing your personal coin and pics?

[+Renegade Knight]

I'm hoping it causes the factory in China to finally admit they can do a coin that is in the works instead of fighting us over not being able to what they have alreay done.

[+burgessfour]

Nothing has changed for me, I am still hopelessly hooked on them. What might be the final straw for the economy is if I quit buying them

[+CBT69]

If/when I can find them made in the USA, I will buy. I won't send any money overseas to aquire them, though.

[+ECplus3]

I've had to cut back on my coin purchases -- not because of the economy, but because I was buying too bloody much!!

 

On the minting side of things, however, I've had to postpone all new projects indefinitely. I'm heavily invested in energy and precious metals. I've seen half my savings melt away in the last two weeks. I think my coin minting funds will be used to buy heavily once the market turns around -- buy low, sell high, and all that

 

I'll have to wait until I build up a new nest egg before I can think about minting any new coins.

[+Renegade Knight]

If/when I can find them made in the USA, I will buy. I won't send any money overseas to aquire them, though.

 

The Alaska Mint will make coins. They are reasonable for a State Coin run, though maybe not so much for a personal coin run unless you are going to make 1000 coins.

 

Most other US mints won't even bother wiht such a piddly amount of coins. I never did find any American mints that can do much more than basic metals and 3D art. Most of that is overseas.

[+Droo]

I'm retired and heavily invested in the market so I cringe at opening my statement this month especially since I just moved into to a new house. Something told me it was going to go bad but as I sit here listening to the wind howl at the mountains unobstructed in my face I don't care if I end up in the poor house next year. I'm a happy man today.

 

Coins? More discriminating, only buying singles any more maybe a couple of different finishes but not spending money on travelers or traders.

 

As for not buying coins made outside the US.... have you checked your underwear lately?

[+WRITE SHOP ROBERT]

I'm retired and heavily invested in the market so I cringe at opening my statement this month especially since I just moved into to a new house. Something told me it was going to go bad but as I sit here listening to the wind howl at the mountains unobstructed in my face I don't care if I end up in the poor house next year. I'm a happy man today.

 

Coins? More discriminating, only buying singles any more maybe a couple of different finishes but not spending money on travelers or traders.

 

As for not buying coins made outside the US.... have you checked your underwear lately?

I wonder if some people think that a US vendor means a US made coin? One thing I have wondered is why the coins do not carry the country of origin label. I thought those were required. Mybe they fall under some exemption.

[+forthferalz]

there's always an upside- Huzza to the price of metals falling as far as minting goes.+ teh weak aussie dollar might mean i can make next coin here and sell at a reasonable price to you lot.

If/when I can find them made in the USA, I will buy. I won't send any money overseas to aquire them, though.

ha you are in luck - i had to move my glass coin stateside. even the glass technology is made in USA NASA developed the special coating.

 

so as not to just blow own horn Northwest territorial do an awesome job- they did the first greenman coin i believe. Look up 'challenge coins' and you will get a better selection of mints who don't manufacture offshore.

[+welch]

 

I wonder if some people think that a US vendor means a US made coin? One thing I have wondered is why the coins do not carry the country of origin label. I thought those were required. Mybe they fall under some exemption.

Yours don't arrive with a tiny peel off CHINA sticker on the outer sleeve?

[avroair]

Maybe that's just because the newness of collecting is starting to wear off.

 

That, and when you look at the 100s of silly coins you have lying around, you begin to see how much you have invested into coins... At least they hold their value better than stocks.

[+CBT69]

I'm retired and heavily invested in the market so I cringe at opening my statement this month especially since I just moved into to a new house. Something told me it was going to go bad but as I sit here listening to the wind howl at the mountains unobstructed in my face I don't care if I end up in the poor house next year. I'm a happy man today.

 

Coins? More discriminating, only buying singles any more maybe a couple of different finishes but not spending money on travelers or traders.

 

As for not buying coins made outside the US.... have you checked your underwear lately?

 

Yes, I have. And while I realize buying _some_ things from overseas is unavoidable, I don't consider having a run of coins made a necessity, so I'll choose not to send my dollars (and yours) overseas if I don't have to.

[+CBT69]

Maybe that's just because the newness of collecting is starting to wear off.

 

That, and when you look at the 100s of silly coins you have lying around, you begin to see how much you have invested into coins... At least they hold their value better than stocks.

 

It does get rather Disney-Pin Trade after a while.

(You think coin collectors are bad.. take a look at Pin Crack at the Disney resorts, stores, mail order clubs, etc)

[+LadyBee4T]

Yes the economy has definitely affected my coin buying. Not being able to sell my house in this depressed market and living on a fixed income means that coins are taking a back seat to necessities.

[+Zarya.]

Maybe that's just because the newness of collecting is starting to wear off.

 

That, and when you look at the 100s of silly coins you have lying around, you begin to see how much you have invested into coins... At least they hold their value better than stocks.

 

I keep a spreadsheet of the coins I bought, how much I paid for them, where they came from... and I have spent $600 in the past 3 weeks since I began looking at geocoins.

Being in Canada, 95% of them come from overseas. (Mostly USA, some Germany)

 

The Canadian Dollar plummeting puts the breaks on my obsession, but it does mean that Landsharkz coins will be cheaper for you guys down south.

[+ThePetersTrio]

Maybe that's just because the newness of collecting is starting to wear off.

 

That, and when you look at the 100s of silly coins you have lying around, you begin to see how much you have invested into coins... At least they hold their value better than stocks.

 

LoL - I'm going to say that to my husband the next time he beats me to the mailbox and gives me the raised eyebrow look when he hands me the packet of coins!

[+coreynjoey]

The economy has had its effect on us, that's for sure. So far I've survived 2 rounds of layoffs at work. I can't even remember the last time I bought a geocoin :-( The good news is my work shortage is based on a local company that is experiencing a strike right now. As soon as that ends, work will be more secure again and I can go back to being a geocoin whore :-)

[+burgessfour]

Maybe that's just because the newness of collecting is starting to wear off.

 

That, and when you look at the 100s of silly coins you have lying around, you begin to see how much you have invested into coins... At least they hold their value better than stocks.

 

LoL - I'm going to say that to my husband the next time he beats me to the mailbox and gives me the raised eyebrow look when he hands me the packet of coins!

Just tell him you are doing your part to keep the economy afloat, that's what I do

We are lucky that it hasn't effected us as much as some others though (knock on wood).....

And yes, I would absolutely be in for a few of your personal coins!

[+TropicalParadise]

It does get rather Disney-Pin Trade after a while.

(You think coin collectors are bad.. take a look at Pin Crack at the Disney resorts, stores, mail order clubs, etc)

 

My family is friends with another family that has two children, they're older now, but when they were younger, the parents never said no to items they wanted, they had absolutely every pin there was, except for maybe half a dozen super rare ones.

 

They also had every beanie baby.

 

Every American Girl doll.

 

I don't know where they stored all the stuff they collected in the moment.

[+GEO*Trailblazer 1]

Check out the town named USA China.

It is really a name and is used to say made in USA not U.S.A.