Posted 01/18/2016 10:03 pm
I have been looking at 100 year gold price histories.
My first gold coin was bought way back in 1964.
I still remember it: a common date (1887) Sydney Mint half sovereign in EF.
In 2016 prices, the gold in it (1/8 ounce), was worth about $30. The actual price paid was $8. I bought it when I had my first permanent full time job.
I have bought about 50 numismatic gold coins since then, and a few bullion coins (double eagle and 1 ounce platinum koala).
I have seen all of the vagaries of the gold market since 1964. I have kept only a passing interest in bullion prices generally. Long experience has taught me to to bother with current pricing.
Curently, if the gold buyers are unable to make a profit, they will leave the market. That is what we are witnessing right now.
Actually, I see that there will be more opportunities for the small time collector / gold stasher, because commodity prices generally are in a cyclical decline. Witness current iron ore and crude oil prices. There will be an upturn in the next 2 or 3 years. The stasher / collector will need to be circumspect in their purchases. Hasten slowly.
I have noticed that there is a following trend between bullion prices and the numismatic market.
Same thing with long term shocks and scares investments, and have been invested in compulsory superannuation since 1964, as well. World stockmarkets are semi tanking as well, just now.
My first gold coin was bought way back in 1964.
I still remember it: a common date (1887) Sydney Mint half sovereign in EF.
In 2016 prices, the gold in it (1/8 ounce), was worth about $30. The actual price paid was $8. I bought it when I had my first permanent full time job.
I have bought about 50 numismatic gold coins since then, and a few bullion coins (double eagle and 1 ounce platinum koala).
I have seen all of the vagaries of the gold market since 1964. I have kept only a passing interest in bullion prices generally. Long experience has taught me to to bother with current pricing.
Curently, if the gold buyers are unable to make a profit, they will leave the market. That is what we are witnessing right now.
Actually, I see that there will be more opportunities for the small time collector / gold stasher, because commodity prices generally are in a cyclical decline. Witness current iron ore and crude oil prices. There will be an upturn in the next 2 or 3 years. The stasher / collector will need to be circumspect in their purchases. Hasten slowly.
I have noticed that there is a following trend between bullion prices and the numismatic market.
Same thing with long term shocks and scares investments, and have been invested in compulsory superannuation since 1964, as well. World stockmarkets are semi tanking as well, just now.
Edited by sel_69l
01/19/2016 12:06 am
01/19/2016 12:06 am
