New Metal Detectors & The Economy ....HELP ME UNDERSTAND

[Johnny Cache Hunter]

New Metal Detectors & The Economy ....HELP ME UNDERSTAND

Just some observations I've made reading posts of late....

With all the talk about the economy lately, and with particular regard to the over spent U.S. consumer, I've found it to be somewhat interesting just how many people have reported to have just recently purchased a new metal detector.

Please allow me some latitude here, but in general, on average, a new detector runs in the neighborhood of $900.00. Then there is the cost of any extra coils or probes that one may also get at the time of the initial purchase.

I guess what strikes me funny is that for a significant number of people the detector being purchased is the person's 2nd, 3rd or even fourth detector.

Given that the T-net community is made up of people from all across this great country, I suppose the world for that matter, I think its fair to say that, collectively, we are comprised of a diverse social-economic group of people.

Basically, we have folks here from all different walks of life, different geographical locations, different levels of education, different levels of earnings, different political view points, etcetera.

How is it then that so many of us are plopping down a fairly good amount of cash to purchase another metal detector when, supposedly, we as U.S. consumers are in dire financial / economic straits?

After all, are they not going to be giving out rebates in an effort to get us to go out and spend money and stimulate the national economy.

Retail sales for Christmas were reported to be down year to year. But reading all the posts here on T-net regarding new MD purchases you would not come away with the notion that people are afraid to spend money right now.

I'm not certain if I'm getting my point across, but I would like to know how many of you out there have bought a new detector in the past 60 days? What was the brand and model? And how much did you pay roughly (if your comfortable in saying so).

Also did the current state of the U.S. economy enter your mind at any time prior, during or after your purchase?

I'd also like to hear from anyone who's put off buying a detector, or other treasure related equipment, because of concerns over the economy. ALL BRANDS OF DETECTORS WELCOME TO RESPOND

Thanks for any and all replies...I'm truly curious.

BY THE WAY..... I'm the happy owner of a brand new White's DFX w/ sunray probe and Eclipse 5.3 coil.

For me personally the overall economy didn't enter into, or deter me from making, my purchase. Even still, I will say that I have been squirrelling away more money just the same...just in case.

I tend to be fairly financially cautious and therefore always carefully consider my own personal economic health before making larger purchases, rather than acting on impulse as I feel many consumers do.

 

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[Jeffro]

Re: New Metal Detectors & The Economy ....HELP ME UNDERSTAND

Heck, I'm happy with the ones I've had for years. About the only reason I can think of to not buy a new underwater machine would be the fact that I wouldn't get the chance to use it enough to justify it. The economy doesn't really play into it.

I do think we are gonna be in for a hard year though.

 

[Sandman]

Re: New Metal Detectors & The Economy ....HELP ME UNDERSTAND

The amount of money people decide to spend changes from "I want it, to I need it." They will plunk down real money for a foreign car and then cry when the auto workers stop coming into their store to buy things. To make up for it, they raise prices to try to make up the difference in lost sales which gets them fewer customers.

In the case of metal detectors, this is a entertainment thing that costs less to do than filling up the Bass Boat with fuel and fueling up the SUV that pulls it to the lake to catch fish that they don't eat anyway. To wave a coil around and find free money appeals to people that think they are making a profit.

I just bought a used Tesoro from someone that needed the money to pay his insurance premium on his Tundra. I have enough other detectors and may resell this one on ebay.

 

[jeff of pa]

Re: New Metal Detectors & The Economy ....HELP ME UNDERSTAND

With Silver Prices I would think there are alot of
New Buyers right now Buying as an Investment.

I'v been meaning to sennd Mine in for a Goin' Over.

And also Buy another Sovereign.

But with Fuel Prices, Vehicle Repairs, Home Repairs Etc.
I keep putting both off.
And am Hoping for the Big Strike this year.
Like $50.00 Silver & $2500 Gold
and to find a few pounds of both.

 

[E59]

Re: New Metal Detectors & The Economy ....HELP ME UNDERSTAND

I kind of feel like the media runs out of topics and makes a big hoodoo about something and it has a snowball effect. I've heard so much about the bad economy that I make fewer trips away from home and each one of us that does this impacts the economy when we hang on to our money. The media coverage has made me much more frugal, for the first time since I had my children I've kept my thermostat on 65 instead of 72, I purchased a drying rack for clothes, and I know this sounds odd but I've filled my pantry with nonperishable food. I used to keep cleaners in it. So I did put some extra money out there with all the shelves of food.
I want a detector that can be used underwater and if I do buy one it will be on ebay or a used one, definitely not new.

 

[Kas]

Re: New Metal Detectors & The Economy ....HELP ME UNDERSTAND

Most are more than likely charging them to credit, adding to thier woes.

Or else they're counting on paying it off with income tax refunds, or Bush's meager economy boosting check plan.

Been married 26 years never had any credit card debt. We decided that we'd never make more bills than one or the other of our checks per month couldn't pay. It's worked out great. We saved lots.

Play it smart from the start.

 

[thompy]

Re: New Metal Detectors & The Economy ....HELP ME UNDERSTAND

going to try the new fisher f-5 when they come out in march, love my T-2. need a machine for my son, was going to get a used one, dont want to spend more than $500. the economyis something to watch, but overplayed by the media, get rid of nafta. not seen much effect arond here, ive been broke for the most part paying off credit cards, just to get away from wasting money on intrests. you have to splurge once in a while on your self. i have about 5 guys intrested in detecting at work , need a extra machine to take them out and give it a try as well.

 

[Farmercal]

Re: New Metal Detectors & The Economy ....HELP ME UNDERSTAND

If you are a fisherperson (would have said fisherman but women fish as well), and want to buy a new bass boat, how much of your previous catches can you put toward your purchase of that new boat?

Now if you are a detectorist and keep all of the profits from turning in your clad and want to buy a new detector how much of you previous finds can you put toward your purchase?

It s easier to buy that new detector when you have half the money up front that you gained enjoying the hobby. It only takes one to two gold rings to equal half the purchase price of a new machine.

I do not detect all the time like most people but still accumulate a lot of change by just swinging the coil and it adds up fast, believe of not.

 

[SC_hunter]

Re: New Metal Detectors & The Economy ....HELP ME UNDERSTAND

With Silver Prices I would think there are alot of
New Buyers right now Buying as an Investment.

I'v been meaning to sennd Mine in for a Goin' Over.

And also Buy another Sovereign.

But with Fuel Prices, Vehicle Repairs, Home Repairs Etc.
I keep putting both off.
And am Hoping for the Big Strike this year.
Like $50.00 Silver & $2500 Gold
and to find a few pounds of both.

Jeff...we know you are just waiting on the "big" check from the IRS...lol I hope you find the $2500 in gold..

 

[robert roy]

Re: New Metal Detectors & The Economy ....HELP ME UNDERSTAND

Johnny Cache Hunter:

Well, I had ben saving for awhile. ALso I bought the Ace 250 new when I had the money to spare.
I bought the MXT used for $300. Its been an excellent machine and no problems.

Now, I am waiting for my income tax return because I want to buy another detector, probably the LAST one I will by. Its a toss up between the x-70, F4, or a Tesoro. Probably the Tesoro, used.

However, that said, I may still put off as I am retireing this year and can only work a few hours perweek
so I will be limited to what I can spend.

The fact is I have two great detectors already so I don't need the third detector at all.

Its sad that the economy is so mesed up, bt I guess there are alot of people out there willing to spend their money. Maybe not everyone is as bad off as the other guy next door? We've only heard form those who bought and have money to spend. How many want a detector bt said NO I can't afford It? We've only seen the one's that have bought and not the ones who didn't so its hard to come up with any stats.

Regards
Robert R

 

[TooManyHobbies]

Re: New Metal Detectors & The Economy ....HELP ME UNDERSTAND

I threw off your stats just a bit (+1), I didn't buy one in last 60 days but plan on buying one (or two) in next week or so. I'm going with whites mxt, and maybe a whites m6.
Econonomy? Not even a half thought about it. Do I need one? Heck no. Do I want one? Real bad.
Let's see, $1000-1500 spent, to find a handful of zinc pennies. Never was very good at math.

 

[olegoat]

Re: New Metal Detectors & The Economy ....HELP ME UNDERSTAND

boy, i dont know where i am going with this. i have bought 3 detectors in the past 90 days or so, a tesoro tejon, used, a new fisher f-2, a chinese made one and i allready had the fisher (old) 1220, a garrett gold stinger, my compass bought new over 30 years ago. i dont need anymore but will that keep me from buying. probably not, i have no use for an underwater machine though, so thats out, what else is left? we are hunting a civil war site, when the weather lets us, found a couple things, know there is more there and we are gonna get some of it. i am retired, small pension, i get by and will get carried away with the checkbook sometimes, like have just bought 4 volumes pertaining to the civil war, i have to know what went on in my location, just research material. dang i need help--lol

 

[Johnny Cache Hunter]

Re: New Metal Detectors & The Economy ....HELP ME UNDERSTAND

Most are more than likely charging them to credit, adding to their woes.

Or else they're counting on paying it off with income tax refunds, or Bush's meager economy boosting check plan.

Been married 26 years never had any credit card debt. We decided that we'd never make more bills than one or the other of our checks per month couldn't pay. It's worked out great. We saved lots.

Play it smart from the start.

I couldn't have said it any better myself.

I think credit cards are just killing people and most just don't get it. Now with Universal Default, which means if your late on making payments to a creditor, and those late payments result in that creditor instituting their default credit rate, typically between 21 - 36%, then all of your other credit cards, ones in which you may never have made a late payment, can then also raise your credit card interest from the low introductory, or teaser rate, to their default rate. The legal basis of them being able to perform this action is because your late payments to one creditor changes your credit risk ratio. Allowing other creditors to say, hold it your no longer at the same credit risk level as when we initially extended an offer of credit to you and therefore we are freely within our right to modify the terms of our credit agreement with you. Most people don't read the fine print on their agreements and are not familiar with the term Universal Default. Imagine for a moment how easy a person could spiral into the pit of credit card debt if, as most Americans, they are carrying 8-10 thousand dollars of debt and all of a sudden because of an unexpected hardship, or perhaps a lapse of better judgement, they find themselves in a position where the interest rate on all their credit cards are skyrocketing to 29% or more. It would become difficult to just keep pace with the interest.
Now your FIFO score starts to suffer and it becomes harder and harder to acquire credit at reasonable terms. Take one step further out and now imagine that your late on your CC's and your mortgage. There are a lot of people out there that should never have bought a home to begin with, or who had a home and sucked out all their equity thinking the realestate bubble was impervious. My advice is buy only what you can afford and avoid using your available credit except for short term emergencies.

JCH

 

[Shortstack]

Re: New Metal Detectors & The Economy ....HELP ME UNDERSTAND

Our so called "worsening economy" is something made up entirely by the liberal media. They pull this crap just before major elections in attempts to fool people into believing that the Democrats are God's gift to our economic survival. If no mention was ever made on the television networks and in the news print of an economic downturn, would any of us see any difference in our personal situations? I seriously doubt it. Right now, I'm paying the same amount for a loaf of bread; a gallon of milk; a dozen eggs; 5 lbs of cornmeal ; a gallon of 87 octane gasoline, that I did 3 months ago. I'm telling you folks, the media are trying to create something that really isn't there. Don't fall for it. I feel the same way as Ben Stine (misspelled). Bad Economy I REFUSE to participate!!!
Y'all have a real good day.

Oh, I forgot. Have I bought a new detector in the last 60 days? Technically, yes. I bought a used Detector Pro Headhunter Diver w/ long shaft. Used machine, but NEW to me. It was such a good deal I couldn't pass it up. The price was $243 including shipping. That's for a $900 machine with a used value of $350 to $475. I was thinking that I needed a detector for use in Civil War relic hunting in rivers, creeks, and wet branches around my area and was checking out the weighed coils for my Tesoro BD II when I came across the Detector Pro. The seller thought it was a Wader, even though the earcup clearly read "Diver". Oh, well, he's a prospector equipment dealer and took the machine in on trade. Didn't really cost him anything, but saved ME bunches.

 

[deepskyal]

Re: New Metal Detectors & The Economy ....HELP ME UNDERSTAND

I gave the economy some thought before I bought my DFX, but my purchase was a trade off.

From my user name, deepskyal, you may have figured out that I was into sky watching. I had a very nice telescope I bought about 6 years ago.

Living in Western Pa....we have 3 clear nights a year. Okay I exaggerate...maybe 5 clear nights. Anyhow...it was a lot of money invested in something I rarely used and haven't used in almost 2 years.

My first big hobby was metal detecting back in the early 80's and I had 2 detectors then. A white's 3000 series 3 and a white's 6000di pro. I still have the 3000 but the discrimination doesn't work so well any more. I sold the 6000 to persue writing and bought a word processor. (that predates PC's affordability)

I sold my telescope after much thought, almost a year debating it actually. But, seriously, Western Pa. isn't really great with clear skies and I figured I would get a whole lot of use reviving a hobby detecting. So I bought a used 6000 series 3 which I don't think was as good as my di pro...but it got me hooked pretty good.
Then, with some of the money from the scope sale, I bought the DFX. It's not like I spent money I was earning...simply a trade off.

But I did consider saving the cash for the hard days that could be around the corner..My job is fairly recession proof, but my wife's isnt and I've already spent some of the left over cash from the scope sale for "things" that we normally would do without but are nice to have.

And I do look at the factor that IF the economy got that bad....I'd just detect a whole lot more and find more money. There are lots of places close by that are still producing lots of clad as well as some silver. But for now....I detect for fun...the finds are just a by-product of the mystery of what's in the ground, how long has it been in the ground, who lost it...etc.

So to answer the question simply...yes I thought about the economy..but justified my purchase.
Al

 

[UncleVinnys]

Re: New Metal Detectors & The Economy ....HELP ME UNDERSTAND

Interesting topic . . . thanks for posting it.
If I were truly, fully logical, I would have to admit there was no reasonable excuse for buying my first detector, except for the sheer joy of owning a big-boy toy and the thrill of going out and finding "free money."

What I find ironic is my interest in the economy AFTER buying and using it.
First, I realized what junk our coins are, and it strikes me we are in effect being duped by our government to affording any value to the toy coins we call our clad currency. It's a joke, and it makes all the more exciting for the hobby to allow me to locate real silver money.

Being close to a Newbie, the machine has not yet paid for itself (at this rate it will take a few years!) but I feel it was all worth while, because it has got me out into nature, into seeing the world, enjoying a bunch of new discoveries, such as geology, nature, plants, weather, and local history. When you add all those "peripheral" blessings, the cost of the detector is well worth it.

 

[DirtDiggerDaveinMD]

Re: New Metal Detectors & The Economy ....HELP ME UNDERSTAND

Yes, I bought a new Tesoro Cibola.

 

[Kas]

Re: New Metal Detectors & The Economy ....HELP ME UNDERSTAND

My detector was made in America and I bought it 9 years ago. I will keep using it as long as Tesoro is willing to repair it for free - although I am happy to say I have not had to have it repaired yet (I probably should not have said that, I may have jinxed myself. lol). I am debt free (not even a mortgage) and intend to stay that way. My major purchases (the Tesoro LST was a major purchase for me) are considered carefully and not made until/unless I have the cash to do so and all other priorities are already covered. It is, afterall, a matter of priorities. While my neighbors have a new car every few years and take extravagent vacations, I stay home (US) and drive an older car. To each his own, I suppose, but I prefer to be beholding to no one.

PS, can't figure this out, but gasoline in my town went from $3.37/gallon 87 octane to $3.12 in a week. I could not believe it.

TT, We've actually have agreed on something.

In defense of a purchase of a metal detector by anyone. At least THing is a hooby that you can get a return on, unlike some other hobbies mentioned upstream.

A couple of gold rings found can buy groceries for a few weeks.

 

[BARGuy]

Re: New Metal Detectors & The Economy ....HELP ME UNDERSTAND

No, I haven't bought a detector in the last few months. The economy didn't enter in to it...it was simply because I didn't feel the need. Had I had the urge, I would have jumped on one like a duck on a Junebug.

Why? My reasons are probably skewed compared to most T/Net members, since I'm pushing 70 years old. But...

#1...I feel that my time here is limited, & I'm going to do pretty much as I D@#$ please, as long as I can afford it & it doesn't interfere with another's pursuit of happiness.

#2...Any detector I would be interested would be made in the good old US of A. At the risk of stepping on toes, I'm quite a flag waver & will pay extra to get the "Made in USA" label. It would maybe keep a minute portion of US workers on the job a few more minutes. Note that I do not, never have, nor never will own a foreign vehicle...Sorry about that, but it may have something to do with being born & raised close to Detroit. Oops...off topic!

#3...I currently own 5 excellent detectors, all in working order. I can't say I've seen anything new & exciting lately! I'm waiting for one that will...

Cheers, DR

 

[BillyC]

Re: New Metal Detectors & The Economy ....HELP ME UNDERSTAND

Well I bought mine in August of 07, so not in the last 60 or 90 days. I bought mine with the proceeds of selling my bike. I gave my wife 2 grand I kept $800 for the detector. The extras have been bought with birthday and Christmas money.

I will be honest I have not really worried about the economy. I work in a hospital so no real layoff worries. I do tend to try to stay local when I hunt. Keep the gas I use to a minimum. The getting outdoors and walking is good for me. I save all my clad for detector extras.