Ok I've been sussin feebay for quite some time now and just wondering if others think collecting is slowing down a bit or is the GFC still having an effect :( Oh that's right there was no GFC if you listen to the libs so what am I going on about, all is good and that's why they have to attack DSP and put Dr visits up, yep every thing is just fine and dandy :laugh2:
Sorry I just have to have a dig at the libs as I hate those bastards and what they've done to me and Australia and to think I was willing to give my life for it, yep I've been a fool many a time :(
From the things I look at on Ebay there has been a distinct slowdown in January and February AJ. Higher proportion at Buy It Now prices rather than auction too.
Pedro
Yeah and also noticed it with houses around here Pedro as when things get bad people think they get more at auction and ATM nearly every house for sale is up for auction. Yep and the ones that do have Buy It Now are putting on Or Nearest Offer as well so to me all these little things say a lot.
The GFC never really ended, QE to infinity, deficit spending and other shenanigans have kicked the can of cleaning up the mess until later. Relevant to collecting as when the dunghill does break and the economy goes into recession (scratch that) DEPRESSION there will be many fine collections coming onto the market as people need to raise funds. Prices may be well below current levels as many existing collectors won't have their current cash flow to support their hobby and "investors" will have been burnt by things like the Rare Coin Company going bust so they won't pick up the choice stuff like they did a few years back for their SMSF.
The market for coins and notes is absolutely weakening. Prices have been declining sharply in my opinion. I think I read recently a story about the 1000 pound note in this years Roxbury's auction. Sold in 2008 for $890,000 and had an estimate of only $250,000. It didn't even sell.
Very few people are brave enough to put stuff on ebay as an auction with a low starting bid. Most stuff is now buy it now perhaps with a or best offer. However it should be noted that this change at least partly due to the change in ebay rules allowing sellers a certain number of free listings each month.
Hopefully things don't slow too much.
As far as RAM mint sets go, with the volume of items on offer being down buyers are taking up Buy It Now deals so average prices for the last couple of months have picked up. Hasn't happened across the board - some sets like the 2003 have been "torched" a bit.
Pedro
I would have thought that the GFC would encourage investors to speculate in something tangible instead of the "Smoke and Mirrors" companies and institutions that will be the first to collapse if all went bad :ok:
I think that's what a lot of us thought Jim, I'll be on the train if I get some money behind as I like it in my hand and not on a bit of paper that anything can happen to as we have seen many times in the past and even the banks can go belly up, no offence Belly :winkextra:
Quote from: 'ausjack' pid='43418' dateline='1394317751'I think that's what a lot of us thought Jim, I'll be on the train if I get some money behind as I like it in my hand and not on a bit of paper that anything can happen to as we have seen many times in the past and even the banks can go belly up, no offence Belly :winkextra:
Frankly I have NO faith in the superannuation companies, especially now that the Government is eying off the 3 trillion dollars of our saved up super funds.
Over the past few years I have been "Squirrelling away" reasonably valuable coins as a hedge for my retirement, these form NO part of my collections, they are purely an investment .
I have recently started to get these graded to aid that purpose .
All the rest of my coins form my collections and I would have to be in a horrible state of affairs to have to sell those.
Mate I ain't goin there about super but boy do I hear ya loud and clear..my super or what's left wouldn't even buy a new secondhand car :(
I lost $ 47000.00 by giving my money over to a super company when I retired , then they had the cheek to charge me $ 2000.00 for early withdrawal fees when I drew out what I had left ..
,, kel ,,
Quote from: 'keldaw' pid='43429' dateline='1394319736'I lost $ 47000.00 by giving my money over to a super company when I retired , then they had the cheek to charge me $ 2000.00 for early withdrawal fees when I drew out what I had left ..
,, kel ,,
Just imagine how many Gold Sovereigns you could have bought back then with 47k .
You could be selling these now without having to pay taxes or bank/fund charges. :whistle2:
Quote from: 'trout' pid='43421' dateline='1394318744'Quote from: 'ausjack' pid='43418' dateline='1394317751'I think that's what a lot of us thought Jim, I'll be on the train if I get some money behind as I like it in my hand and not on a bit of paper that anything can happen to as we have seen many times in the past and even the banks can go belly up, no offence Belly :winkextra:
Frankly I have NO faith in the superannuation companies, especially now that the Government is eying off the 3 trillion dollars of our saved up super funds.
Over the past few years I have been "Squirrelling away" reasonably valuable coins as a hedge for my retirement, these form NO part of my collections, they are purely an investment .
I have recently started to get these graded to aid that purpose .
All the rest of my coins form my collections and I would have to be in a horrible state of affairs to have to sell those.
I'm with you on this one Jim hence the reason I have started sending my best coins away for slabbing and when they're all done I can go back to buying the best coins I can afford and sending them over for slabbing as well.I should have a nice collection in 10 years and hopefully the prices will have bounced back by then
Quote from: 'ausjack' pid='43427' dateline='1394319368'Mate I ain't goin there about super but boy do I hear ya loud and clear..my super or what's left wouldn't even buy a new secondhand car :(
Hehe... I just got another contribution reminder for mine yesterday actually. Haven't paid a penny into it in like 20 years now, since working out it was all going into fees anyway, and that I no longer had to cough up. So I've got a princely sum just sitting there, which ought to buy me a couple of sangers and maybe a pot once I'm allowed to touch it.
Super was such a con from the outset.
Quote from: 'ausjack' pid='43338' dateline='1394228973'Ok I've been sussin feebay for quite some time now and just wondering if others think collecting is slowing down a bit..
Always a bit slow this time of the year AJ,Feb/March and even Jan. can be a bad time to be selling on Ebay,good time to be buying and then selling Aug.-Oct. when the Tax Refunds start appearing and before the Xmas rush.After saying that you never know whats around the corner with Ebay,real volatile enviroment once the Football seasons start.
hehe sounds like the building game :)
In regarsds to super. My super rollover has been up and down just like a new brides knickers and I have lost, then retrieved, gained a wee bit and lost it again.
It depends on how what instructions you gave to your Financial Advisor or whoever.
At the present, I am sick and tired of the constant movement of my super, gains and losses that is, and having to pay for fees on top of the losses and the gains.
Now, I am withdrawing the lot and buying a second house for rent.
My coins etc will now become my controlled super until I depart this world for the next.
To say that Super was a con I can't believe that. Super is a savings for the future and one can surely control the amount of growth and losses by simple instructions.
Quote from: 'Goldseeker' pid='43499' dateline='1394409979'Super is a savings for the future and one can surely control the amount of growth and losses by simple instructions.
Oh come now... you credit people with far more ability than they actually possess.
Super was designed for one thing only. To get the government off the hook for supporting an aging population for longer and longer as demographics change. As such, all it ever needed to do was provide an equivalent income to the pension. Most people looked at the numbers being thrown around by the industry and saw visions of lotto win-sized lifestyles.
None of this hyped-up BS was ever remotely achievable by the average punter. And if you had enough nouse to beat the game, well you didn't need super in the first place. I've known people who you could dump in the Simpson desert stark naked, and they'd be sitting in your driveway in a Rolls by the time you got home. People like that aren't in need of support, they make their own luck.
For the overwhelming majority, super will fail to provide what they were sold. And as the government continues to claw back any and all benefits they can think of, these people will be worse off than someone who blew every penny on their way to the pension. Look at the current move to axe the benefits card... the value of that is considerable, and losing it will hurt people significantly.
disagree sorry GS it was and is a con and a bloody good one at that :( WE should have set it up like the poms where the money is there, high risk investments on other peoples money just isn't right, but totally agree a house is better :good: They knew what they were doing when they set it but they didn't think about the future..funny that :laugh2: Can you refuse to have it taken out of your pay, no I don't think so so to me it's just like another tax ;)
I never paid as I could see the writing on the wall all those years ago so they only got what they stole from me :)
Everyone to there own opinion.
If it wasn't for compulsory super contributions when I was in the Army for 21 years, then I would basically have nothing now.
When I went into my second career, Super contributions were compulsory and then I salary sacrificed as a result.
Here I am now, buying a second house and I have never been so well off.
If it wasn't for compulsory super contributions, I would have most probably wasted the money on other things.
I'm really glad that it worked out well as I don't think it's gonna work out that well for a lot of others and especially people like me that get hurt and then screwed again and again and again and now that I've been forced on to DSP the bloody gov is attacking it as well and not to mention wanting to increase GP visits so there goes even more..what a great country we live in..just so much like the US and it makes me sick, and they have the hide to say they are here for people like me, yeah right..sorrry, this shit just gets me down a bit as I really am sick and tired of being screwed with nothing I can do :( So glad I get to see the GP tomorrow and see about some bloody anti-depresants amougst other things :)
Quote from: 'Goldseeker' pid='43510' dateline='1394418503'I would have most probably wasted the money on other things.
isn't that a failing of the education system? If people were taught what money is, and how to manage and use it properly, there would be no need for expensive blanket schemes like super.
Oh, but wait... knowledge is a weapon, isn't it? Better to keep the consumers dumb and malleable, so they keep consuming and wasting.
Yeah, I know, that's cynical.. blame Jeff. :diablo:
Quote from: 'Goldseeker' pid='43510' dateline='1394418503'Everyone to there own opinion.
If it wasn't for compulsory super contributions when I was in the Army for 21 years, then I would basically have nothing now.
When I went into my second career, Super contributions were compulsory and then I salary sacrificed as a result.
Here I am now, buying a second house and I have never been so well off.
If it wasn't for compulsory super contributions, I would have most probably wasted the money on other things.
Glad it's worked out well for you Goldy. If I'd known you were so financially secure I wouldn't have given you that discount on your last purchase from me!! haha
With regards to super I'm in my 30s and don't have much.
As for mu coins I don't expect them to be a great long term investment. I think prices will be flat for a long time. I prefer to buy and sell for short term profit. The ones I hold long term are there just for pleasure.
when I retired ,I was told to see an investment guy and he would work out what to do with my super so I did that . and he invested it in different ways , coles shares, now westfarmers , and amp finance and first state finance company . BUT GET THIS
he did not tell me that the first $ 105000.00 was tax free if I did not roll it over but just took it and put it in the bank at term deposit .
so after my super going down by $ 47000.00 in 3 years that is what I have done now , and at lease now I know what I will end up with each year .. ,, kel ,,
also my investment man gave us a 10% discount on a block of flats he has up on the sunshine coast for our holidays each year if we wanted it , when I asked him how long he has had them ? his reply was . and I quote " 8 months now that is my super for when I retire later on " I rest my case .. ,, kel ,,
..
QuoteYeah, I know, that's cynical.. blame Jeff.
Fulvio,
Cynicism is not infectious. I think you developed that all by yourself.
Quote from: 'JeffH' pid='43637' dateline='1394570832'Cynicism is not infectious.
That's highly debateable... :diablo:
Quote from: 'Goldseeker' pid='43510' dateline='1394418503'Everyone to there own opinion.
If it wasn't for compulsory super contributions when I was in the Army for 21 years, then I would basically have nothing now.
When I went into my second career, Super contributions were compulsory and then I salary sacrificed as a result.
Here I am now, buying a second house and I have never been so well off.
If it wasn't for compulsory super contributions, I would have most probably wasted the money on other things.
GS, were you in pre '86? Because the Commonwealth public servants super scheme back then was gold plated (from taxpayers pockets). The returns these days are not nearly so nice, once you take out inflation the returns (after fees:pirate:) are pretty ordinary and won't be nearly enough to retire on.
The positive returns of the past few years are due to a massive credit bubble. Not just the US has been creating credit, China has created more credit in 5 years than the US in 240 years and the malinvestment is huge, they have a property bubble with 80 million empty units, ghost cities.
China imports our coal and iron ore to build those ghost cities, once the construction stops then they won't need our raw materials.
When things correct there will be many super funds showing negative returns for the next decade. Some won't show negative returns, because they will have gone bust.
In 1986 I was still in the Army and getting ready to leave. I was contributing 5.5% of my salary each fortnight to Superannuation and that was compulsory for all serviceman and one could not increase that contribution.
When I left the Army in 1989, I retired with a fortnightly pension, indexed to inflation for life and by commuting 4 years of pension, I walked away with a golden handshake of $36K with a reduced fortnightly pension indexed to inflation for life.
When in 2012 our pensions were increased by the rate of inflation, my pension and all ex serviceman got a rise of 0.1% whilst parliamentarians etc got 3% at the same time. My rise meant an increase of $0.67/fn.
To say that Public Servants super scheme were gold plated does not flow to serviceman. All serviceman, at that time, 1986, were contributing to our own fund that was called the DFRDB Scheme. We got paid our pensions from this fund and not from general revenue.
Cast your mind back when supply was declined to the Whitlam Government. I was in PNG at the time and we were all told that we would be put on Leave Without Pay for an indefinite period as monies dried up. However, Whitlam saw approx. $182M dollars in the DFRDB bank and tried to take it into internal revenue. That soon stopped when the defence force threatened to rebel if that money was touched. It was not touched.
However, later years, the money did come into general revenue and we are now paid from the Commonwealth Super Scheme.
I served 21 years for little pittance. Parliamentarians serve a pittance for a lot. So who is getting the money you talk about?
(Please be careful as this topic is well off subject matter and I am some of the cause of it, sorry).
All good GS :friends: I just rant and rave sometime so please pay me no mind :)
I will start a new topic to continue the investment discussion (although 'gfc' is pretty closely linked to investments)
Nah it's all good Oz we are in chat and it really doesn't worry me if my chat threads go off topic :good:
All is good one and all.
I have found the new topic on Super.
Thanks.