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How Can You Afford Gold Coins?

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ASEnut's Avatar
South Africa
453 Posts
 Posted 08/13/2014  02:04 am  Show Profile   Bookmark this reply Add ASEnut to your friends list Get a Link to this Reply
Yes guess so, I hope to add a few gold pieces to my collection
Valued Member
moneditis's Avatar
Spain
110 Posts
 Posted 08/13/2014  04:55 am  Show Profile   Bookmark this reply Add moneditis to your friends list Get a Link to this Reply
Buying from time to time exclusively coins wanted for my collection and in the price range I am looking for. With no exceptions
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vermontensium's Avatar
United States
16679 Posts
 Posted 08/13/2014  05:05 am  Show Profile   Check vermontensium's eBay Listings Check vermontensium's eCrater Listings Bookmark this reply Add vermontensium to your friends list Get a Link to this Reply
I have a few but since buying my house (in So. Calif.)...you do the math, my money has gone there lately.
Not to say I don't have a few nice coins :p
Choices you make in life also impact this.
I see guys at my job eating out twice on our 8 hour shift.
I bring my lunch 5 days a week and they still complain.
Their choice but guess what. I got money for other things.
swcoin.ecrater.com
New Member
Belgium
2 Posts
 Posted 08/13/2014  2:31 pm  Show Profile   Bookmark this reply Add Kevin G to your friends list Get a Link to this Reply
The Austrian mint has an affordable gold coin it's an 1/25 philharmonik.
Around 50€
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BadToTheBone's Avatar
United States
1795 Posts
 Posted 08/13/2014  2:36 pm  Show Profile   Bookmark this reply Add BadToTheBone to your friends list Get a Link to this Reply
Well you buy what you can afford. When I don't have enough to purchase a gold coin that I want I wait until I have saved enough and then purchase it. Pure supply side economics is what it boils down to.
Valued Member
United States
174 Posts
 Posted 08/13/2014  4:52 pm  Show Profile   Bookmark this reply Add LeoS to your friends list Get a Link to this Reply
i buy gold the same way i'd eat an elephant, a bite at a time. (or a bit at a time).

I don't sweat a little premium on a 1/10 ounce AGE, saving $155 dollars for a 1/10 is easier than saving $1400 for a 1 ouncer, and it will probably be easier to unload later on, especially if gold goes up to $4000 per ounce! (Wishful thinking, I know)
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johntookit's Avatar
United States
589 Posts
 Posted 08/13/2014  9:04 pm  Show Profile   Bookmark this reply Add johntookit to your friends list Get a Link to this Reply

Quote:
I don't sweat a little premium on a 1/10 ounce AGE, saving $155 dollars for a 1/10 is easier than saving $1400 for a 1 ouncer, and it will probably be easier to unload later on, especially if gold goes up to $4000 per ounce! (Wishful thinking, I know)


I said the same thing when the gold was trading at $450.
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denco7's Avatar
United States
2543 Posts
 Posted 08/13/2014  9:36 pm  Show Profile   Bookmark this reply Add denco7 to your friends list Get a Link to this Reply

Quote:
Choices you make in life also impact this. I see guys at my job eating out twice on our 8 hour shift. I bring my lunch 5 days a week and they still complain. Their choice but guess what. I got money for other things.



This is it in a nutshell. Coins are a hobby like anything else. How do your friends afford that new fishing boat or Harley or new '69 Camaro to restore, they love their hobbies and that is what they save for.

Everyone has their hobbies and you stop eating out , you drive a 10 year old car, I have a 3 acre yard, about an acre of it is grass, I mow it with a push mower. Every time I go into the John Deere place and start looking at the $2100 tractors, I don't think " boy that would make fast work of the lawn " I think , "what kind of coins would that $2100 dollars buy"

My son left for college today, so I won't be buying any significant coins for a while. You just do what you gotta do.
Edited by denco7
08/13/2014 9:37 pm
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macmercury's Avatar
United States
5833 Posts
 Posted 08/14/2014  12:57 am  Show Profile   Bookmark this reply Add macmercury to your friends list Get a Link to this Reply
@denco7,

I know how you feel about your son attending college, as my kids finish their college life few years ago, it was like going for a second mortgage to me.
Valued Member
ASEnut's Avatar
South Africa
453 Posts
 Posted 08/14/2014  05:06 am  Show Profile   Bookmark this reply Add ASEnut to your friends list Get a Link to this Reply
Thanks for all the advice, I did not think I would get so many replies I will consider everyone's comments thanks guys
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Liverpool's Avatar
Canada
576 Posts
 Posted 08/14/2014  2:25 pm  Show Profile   Bookmark this reply Add Liverpool to your friends list Get a Link to this Reply
I've been going to auctions and biding in the gold and silver, I've gotten some old silver for less than scrap. So far it has not worked with gold, tonight it's a 1910 British gold sovereign. I'll bid scrap on it, odds are I will not win but it doesn't cost me any thing to try.
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odentheviking's Avatar
United States
425 Posts
 Posted 08/15/2014  3:48 pm  Show Profile   Bookmark this reply Add odentheviking to your friends list Get a Link to this Reply
I agree with HH, the best way to afford Gold Coins is to not buy them.
Back during Clinton I was buying silver at about $6- $8 an oz. In Feb of 2011 I took 32 oz. silver,(one 10 oz. bar and 22 Maria Teresa's oz. rounds), and traded for three gold british sovoreigns. I think the rate then was 36 to 1. After waiting for about two years I then traded those same three sovereigns for 62 Franklin half dollars, 7 ASE's, a Canadian Moose, and a 10 oz. Kookaburra round. The rate had jumped to 60 to 1. Last time I checked it was 66 to 1.
I have a 1/10 oz AGE and a 2001 and 1979 one oz. Gold Maples I would not mind trading right now for silver!
Pillar of the Community
United States
1554 Posts
 Posted 08/15/2014  7:25 pm  Show Profile   Bookmark this reply Add 1893S to your friends list Get a Link to this Reply
The answer to your question is, find a good paying job, work hard, and save your money.
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AgCoinAu's Avatar
Canada
3049 Posts
 Posted 08/19/2014  02:05 am  Show Profile   Bookmark this reply Add AgCoinAu to your friends list Get a Link to this Reply
It certainly depends where you are in your life and your finances. My best suggestion is as follows; buy up silver coins on a regular basis. (eg. bi-weekly or monthly) As you accumulate your silver watch the GSR (gold silver ratio) a previous poster touched upon it in their post but basically with significant high or low ratios you can basically make a swap from one metal to the other and capitalize on it accumulating free metal with the swap.

I say buy silver on the regular basis b/c it's generally pretty affordable. But if you can afford buying gold on the regular.. by all means go for it.. I personally don't buy anything under a 1/2 oz because of the premiums.. I would rather save up a little long and put more money towards gold.

With enough silver accumulated regardless of the ratio I generally will swap out a bunch.

Now personally I try to buy between 10 and 20 oz. of silver per month.. then after 5-8 years you have somewhere between 1000 and 1500 oz of silver you can swap some of it for gold.. My plan is to do that consistently for the better part of 20 years and enjoy the little nest egg I have provided.. Just a side note.. on those fast food lunches.. If you are able to pack a lunch over the course of 10 months you will save yourself 800 bucks or more.. that's 1/2 oz of gold right there!!
Valued Member
ASEnut's Avatar
South Africa
453 Posts
 Posted 08/19/2014  02:17 am  Show Profile   Bookmark this reply Add ASEnut to your friends list Get a Link to this Reply
Agcoin I do that, I buy between 5 to 10 oz of silver every month, I would like to own gold but its overrated in price I think I have 30 oz of silver bullion and want to make a nice nest egg, I pack lunch I cant buy lunch, I'm a wheat miller so its impossible to buy lunch lol. Thanks for the advice!
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