Krazy ain't it ? Or at least I am. Gold is spotting at $3,851 after a Kwazy fall season. Thing is I dont see prices going down near term.
I'm not considering anything big but for me a couple BU 1 oz coins is "big".
I usually but my yellow from Bullion Exchanges and they have DBL Eagles at $29.39 over spot. Heros has a nice one low over spot too. A full oz is almost $4 K now, like I said, Kwazy.
Honestly with gold I feel like I'm in an episode of the Twilight Zone. Way over-priced but its going to just keep on climbing regardless.
Quote: Way over-priced but its going to just keep on climbing regardless.
Not sure I 100% agree, but I guess we will know at some point.
Also, I moved your post here from the US classic subforum. I know that you reference $20 gold coins, but it seems that the bulk of your discussion is directed toward the price of gold in general so the PM subforum seems more appropriate. If you disagree, then pls hit the "report this post to the staff" link and one of us will get it moved back. Thx!
"If you climb a good tree, you get a push." -----Ghanaian proverb
"The danger we all now face is distinguishing between what is authentic and what is performed." -----King Adz
Rates of ascent like this are never sustainable for very long. Everyone here pays pretty close attention to this stuff but we are a pretty small group. My guess, more flags like the one we just broke out of and more breakouts to the upside. In and around the top, everybody will be on board and the reason for this run up will be obvious and common knowledge.
Quote: Thing is I don't see prices going down near term.
That's exactly how I felt back in September of 2011 when gold was hit $1800 after rising steadily for the last three years with seemingly no end in sight. At the time, I didn't have any gold and I decided that if I wanted to fill the gold page in my 7070 album (which I had only started earlier that year) I had better do it right away before the price went even higher and those gold coins became permanently out of reach. And so, I went big and bought one of each gold coin.
After which, of course, the price of gold soon dropped down to the $1100-1200 range and stayed there for the next seven years or so. Of course, now I feel much better about it since the price of gold has more than doubled, but for quite a long time I was really regretting my rash decision.
All of which proves nothing, except that having once been bitten I am now quite shy about purchasing gold at what may be peak (for awhile, at least) prices. Maybe it will keep going up and I'll regret not buying more when it hits $5000 or $6000, but I have enough stacked right now (I was smart enough to buy a decent amount when the prices were in the $1100-1200 range) that I don't feel the urgency to buy like I did back then, and this way I won't be beating myself up if it does fall back down to $2000-3000 in the coming months or years.
You do you, but I think I'm going to sit this one out.
Yeah with such high current prices I wonder if I bought too much this year, including a few back date silver Libertads, one tube of silver eagles, a 1914 $20 gold double eagle MS63, a 2025 1 oz gold buffalo on Costco. Costco usually has gold and silver bars, occasionally gold buffalos, gold/silver eagles. With cash back membership prices are pretty good. The premium on the gold buffalo was 2.1%. The silver eagles cost $694 back in April so if I sold them I'd profit. The 1914 gold is now worth more melt than what I paid.
We can all speculate future spot prices. I would not be surprised to see a significant down correction for PMs and stocks but eventually will rebound. Central banks are still buying gold, national debt, weakening dollar, I think gold/silver will gradually keep going up.
I read that China is trying to amass 5000T. They're about 2000T short right now.
If the central banks quit buying, the price of gold would go flat, then down. I would expect that they would try to force the price down to economize on their massive purchases.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
I agree if the big banks slow or stop buying gold, spot price would go down. I started buying gold in 2016. My average cost per ounce that I own is $2,218. I doubt gold would drop that far. For those just starting out buying gold at recent high prices, they are at some risk of their gold being worth significantly less than what they paid at least for a while.
A quick look at the gold/silver charts for the year shows an increase in spot price of around 50% this year with a good bit of that in the last 3 months. I'm selling at this level.
Disclaimer: While a tremendous amount of effort goes into ensuring the accuracy of the information contained in this site, Coin Community assumes no liability for errors. Copyright 2005 - 2025 Coin Community Family- all rights reserved worldwide. Use of any images or content on this website without prior written permission of Coin Community or the original lender is strictly prohibited. Contact Us | Advertise Here | Privacy Policy / Terms of Use
Posted 10/01/2025 12:58 pm
