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Pillar of the Community
United States
2365 Posts |
quote:
Originally posted by TSmith3510
I googled historical gold prices, very interesting. Gold doubled between :
1932 and 1946
1946 and 1973
1973 and 1974
1974 and 1979
On 12/31/79 it closed at $578. Today it's at $624. Gold as an investment? I don't know. I guess timing is everything.
I do know that gold coins are absolutely beautiful. They're full of history and have tremendous numismatic appeal (from my perspective). I recently acquired 6-7 pieces and I love them. I would like to regularly add to my holdings. Any advice from the forum on how best to buy gold coins without getting fleeced?
Do some research of the economical and World situations during those years and you'll understand the fluctuations in the metals markets. Gold is up almost 35% in the last year. kitco.com is a very good site for research. |
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Valued Member
United States
287 Posts |
Gold is a great investment. For an investor to hold gold for the peak of the market is foolish because you can not predict the future. Gold should be bought with moderation at different prices and sold the same way. Remember you do not go broke by selling at a profit. Try make a little profit on each sale and profits will add up, that way if you lose money on a sale it will also be small. Moving forward is what counts.
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Valued Member
United States
455 Posts |
Very interesting. I don't currently own a gold buffalo. Viewing them on line, I have to agree it's a beautiful piece. The link in Ranger's post lists them for $641. The US Mint has the proof for $800. I wonder if I should spend the extra $160 and go for the proof. Any thoughts?
Also, when acquiring older pieces, any suggestions where I can pick up some $20, $10, $5,etc., coins without paying a huge premium over spot prices?
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Bedrock of the Community
United States
20753 Posts |
Maybe it's just my opinion but I would never invest in any metals nowadays. In the past prior to scientific advancements in transforming of materials I would have said absolutely. I may be wrong but I forsee an advancement in the nuclear industry in transforming materials from one to another all to soon. It is presently being done on some materials at research facilities now. As most individuals are aware it is now being done making diamonds and soon enough the old Alchemst dream of transforming metals into Gold may well come true. Then where will the investments in such metals be if for instance Aluminum or Lead could be made into Gold?
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Valued Member
United States
208 Posts |
quote:
Originally posted by just carl
Maybe it's just my opinion but I would never invest in any metals nowadays. In the past prior to scientific advancements in transforming of materials I would have said absolutely. I may be wrong but I forsee an advancement in the nuclear industry in transforming materials from one to another all to soon. It is presently being done on some materials at research facilities now. As most individuals are aware it is now being done making diamonds and soon enough the old Alchemst dream of transforming metals into Gold may well come true. Then where will the investments in such metals be if for instance Aluminum or Lead could be made into Gold?
Once everyone can have as much gold as they like, it will no longer be significant. Another element will come up that will replace gld as the most valuable element. Maybe we will even find a metal that is softer then gold, or more dense. For right now I see gold as a solid investment. As for diamonds, they are a lovers loss. You can pay $10,000 for a diamond, walk out the door and not be able to get half of the $10,000 you paid for it. |
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Valued Member
United States
67 Posts |
I think gold will remain a good buy until the current U.S. political climate changes. This will happen either in 2008, or possibly, tomorrow! ( hehe )
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Pillar Of The Community
3147 Posts |
How can the U.S. political climate change when the current rules require a man/woman be filthy rich to run for national office. Our choices are nothing more than spoiled little rich kids who have NEVER had need for nothing, most have NEVER had to work a day in their life and NONE of them have a clue what a budget is, let alone how to balance one. They have never had to! The only real good a vote does is in your local elections and EVEN then money will play a tremendous role as elections have turned into nothing more than money politics. We are supposed to be thrilled with the fact there are choices? It doesn't matter whether they are Republicans or Democrats they are ALL in it together just as the auto manufacturers, oil companies and insurance companies. Its called "You pat my back and I"ll pat yours"! Nothing is going to change, just the bull being spread like butter across the media!
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Pillar of the Community
United States
1840 Posts |
quote:
Maybe it's just my opinion but I would never invest in any metals nowadays. In the past prior to scientific advancements in transforming of materials I would have said absolutely. I may be wrong but I forsee an advancement in the nuclear industry in transforming materials from one to another all to soon. It is presently being done on some materials at research facilities now. As most individuals are aware it is now being done making diamonds and soon enough the old Alchemst dream of transforming metals into Gold may well come true. Then where will the investments in such metals be if for instance Aluminum or Lead could be made into Gold?
The only reasonable means of manufacturing gold from another element would be by adding or removing the protons, neutrons and electrons from another element(s). The only two proven ways to do this is fission or fusion. Fission like in a nuclear power plant and fusion like in a nuclear bomb. The cost of energy alone would be prohibitive. I may be wrong, but I don't see this as happening anytime soon. Diamonds, both real and fake, are made from the same element; carbon. No fancy chemistry here, just lots of pressure needed. The technology is old (pioneered by GE in the 50's). I think gold will stay high due growing consumer markets in India and Asia and the finite supply of this particular metal. Edited by snowman
11/06/2006 7:41 pm
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Valued Member
United States
390 Posts |
quote:
Originally posted by TSmith3510
Very interesting. I don't currently own a gold buffalo. Viewing them on line, I have to agree it's a beautiful piece. The link in Ranger's post lists them for $641. The US Mint has the proof for $800. I wonder if I should spend the extra $160 and go for the proof. Any thoughts?
Also, when acquiring older pieces, any suggestions where I can pick up some $20, $10, $5,etc., coins without paying a huge premium over spot prices?
TSmith, First off, welcome to the forum!  I don't know if I would spend the extra money on the proof. Look on ebay for 2006 gold buffaloes and see what they are selling for, either straight bullion, graded bullion, proof coins and graded proof coins. This will give you an idea of the differences in prices for these types of coins. Is the proof worth another $160? I'm not sure about that. I would be inclined to buy an older $2.50 or $5 gold coin instead (I like the $20 St Gauden's, but they are much more expensive than that, however, for $800 you can find a nice coin on ebay. You just have to do your homework). You can also buy the bullion buffalo and send it out to be graded. If is comes back MS70, then you might make money, but I'm not sure how much more the graded coins are worth compared to bullion prices. ebay is one of the best place to buy coins without the premiums you mentioned. Coin shows are another choice, but I haven't been to one yet, so I don't know how they compare. Many other members here go to shows and say they are great. See if there is one in your area in the near future and check it out. |
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Valued Member
United States
397 Posts |
quote:
Originally posted by crystalk64
How can the U.S. political climate change when the current rules require a man/woman be filthy rich to run for national office. Our choices are nothing more than spoiled little rich kids who have NEVER had need for nothing, most have NEVER had to work a day in their life and NONE of them have a clue what a budget is, let alone how to balance one. They have never had to! The only real good a vote does is in your local elections and EVEN then money will play a tremendous role as elections have turned into nothing more than money politics. We are supposed to be thrilled with the fact there are choices? It doesn't matter whether they are Republicans or Democrats they are ALL in it together just as the auto manufacturers, oil companies and insurance companies. Its called "You pat my back and I"ll pat yours"! Nothing is going to change, just the bull being spread like butter across the media!
Could not have said it better myself. So, I just copied and pasted it... And they wonder why folks won't go vote. Easy, No REAL choice to make. MM  |
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Valued Member
United States
67 Posts |
quote:
Originally posted by crystalk64
How can the U.S. political climate change when the current rules require a man/woman be filthy rich to run for national office. Our choices are nothing more than spoiled little rich kids who have NEVER had need for nothing, most have NEVER had to work a day in their life and NONE of them have a clue what a budget is, let alone how to balance one....
Well, I was really referring to the price of precious metals in times of perceived inflation and / or war. So, my thinking is that once it is perceived that things have changed ( after Bush leaves that is ) then we will see prices moderate for bullion. Also, I'm thinking $900 is a little optimistic, given that we've reached current levels before and then seen a price correction. Anyway, you can always buy other countries' gold to show your displeasure with our gov't! |
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Pillar of the Community
United States
1203 Posts |
quote:
Originally posted by crystalk64
Its called "You pat my back and I"ll pat yours"! Nothing is going to change!
This is what we call 'glad-handing' and has been around as long as there have been politicians. It's true that anyone, poor or rich, can run for office, but it's only the one who has the backing of the influential that wins (or steals) the elections.  But just as true is the fact that no matter when or how, GOLD is always a good investment for the future. IMHO Edited by OldDan
11/07/2006 5:58 pm
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Pillar of the Community
United States
604 Posts |
I hope gold doesn't go up to 900 period until after I'm done with my quarter eagle collection just to take the weight off since I can't afford if theey go a cent higher
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Pillar Of The Community
3147 Posts |
Well it is good to see many of us are on the same page, so to speak! Personally I will say if you have extra money to invest in gold or silver then do it! Everything cycles and sooner or later it will get better or worse! You can count on it so the trick is to hold until it gets better!!! As I have said SO MANY TIMES BEFORE stashing a little gold or silver may not make you a rich man but it does put you in total control. You decide when to buy, when to hold and when to sell. In todays world it is one of the few things left that is entirely up to you so the profits or loss is yours and yours alone to make!! I like the feeling! And I will repeat MY pledge to offer FREE storage fpr all gold and silver right here in Indiana. Hey what are friends for? Oh yeah, I have the same deal for all those old Buffalo nickels you might have lying around, taking up valuable storage space!!! Edited by crystalk64
11/08/2006 08:05 am
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Pillar of the Community
Australia
1360 Posts |
quote:
Originally posted by crystalk64
And I will repeat MY pledge to offer FREE storage for all gold and silver right here in Indiana. Hey what are friends for? Oh yeah, I have the same deal for all those old Buffalo nickels you might have lying around, taking up valuable storage space!!!
I'm afraid I must disagree with you Terry. I believe that the Australian climate is definitely the best for storage of any coins, and I just so happen to run a coin orphanage! What a coincidence. |
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Posted 11/02/2006 11:27 pm
