I'm not shy about my opinion about common date classic gold. I think that its a poor investment unless you are sure that bullion will keep going up. As a numismatic item- it's worthless.
As a collector that is trying to finish the 7070 gold page, I have read your opinion and have thought about it
If I got it right, your concerns are that buying common gold coins at these levels is a bad investment strategy.
I do think this could be said about any common bullion related coin.
With much thought, for me, I am buying coins for my collection, so it being a good .. or bad investment is not a main reason for making purchases at these price levels.
Having a type set with a complete gold page, make this collection my top set. I do think all collectors hope the coins they purchase will maintain or increase in value, even if they have no intention of selling them. So yes, as a collector buying gold at these levels of course is a concern.
My thoughts on buying common gold coin for investment.
If gold prices continue to increase, buying at this level
would be a good investment.
If gold prices go down, and we bought at this level, then
hold on to what you would have, until prices go back up.
Major price drops in the gold .. or silver market is a major opportunity to purchase more gold or silver. The more you purchase at lower prices will help offset the coins you bought at higher levels.
I do not think anyone knows what the price of gold will be in one year from now.
I do feel certain that sometime in the future gold will reach higher prices than it is today. Of course I feel certain that in the future gold prices will be lower than is it today.
The big trick is not having to sell when prices are lower than you paid.
The people I have seen make money on gold have a couple different strategies, one is buy for the long term 20 to 40 years. Another is buy when low or when it is trending up, but sell, no matter what, when it reaches a set profit point.
You can always find a reason to not invest .. in anything.
As a numismatic item- it's worthless
edit - I forgot to respond to this statement. I feel even when you buy common gold at high levels, when gold does drop to lower levels .. the numismatic value will kick back in and help you keep a higher amount of your investment, or not have as much loss.