Don't panic! Take a deep breath and enjoy the moment. Then you can think about the economic turmoil we're all trying to find our way through.

These are unprecedented times, and there are no rules as to what the values of coins are going to do during the near future. A case can be made for overall coin values to fall with the rest of the economy. Another case can be made to show that rare coins serve as a safe haven from inflation, which might send coin values higher.

My guess is that we'll see some of both. For one thing, there's been a great divergence building in values between high-end and low-end coins for a given grade. Low-end coins that just make a grade have been falling in value as compared to those coins that are solid or strong for a given grade. That trend is accelerating.

Undoubtedly some people will be forced to sell their coveted coin collections, against their wishes, to take care of other personal circumstances.

If you're in a buying position, you might want to study ads and auctions for coins you have been looking for that haven't appeared on the market in quite some time. This period could prove to present great buying opportunities.

Some people forced to sell will work through private dealers versus auctions. Others may be able to use their coins as collateral for loans from rare coin finance companies. Major auction companies also make cash advances available against consignments, and they lend on some purchases.

Another coin market possibility is that through exposure of precious metals, the coin market has been given a higher profile within the overall investment community, creating increased demand. Several financial specialists appearing on television have recently said that it might be a good thing to buy gold coins and "bury them in the backyard."

Coins and precious metals are physical assets that we can personally control. They obviously are not needed for the necessities of living (although precious metals can be useful if the economic situation were to get really bad). And when life gets back to normal, there will still be a place for them.