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 Replies: 19 / Views: 3,338 |
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Pillar of the Community
Canada
849 Posts |
A guess an early Christmas present for me - My mother gifted me 2 one ounce Maple Leaf Canadian gold coins from my deceased father's collection. Last month I received the 1967 gold fifty cent piece from 1967 which is over half an ounce of gold.
I collect coins and am definitely keeping the fifty cent piece. A coin that I like and a fine memory of my dad.
These are the only three gold bullion coins I own. I have not been into collecting bullion before.
What to do with the other two coins? Sell both, keep both, sell one? I am recently retired but am not desperate for the cash now and might not ever need to sell them to pay bills. But if gold is about to decline I could sell them and add to my mutual fund or something sensible. My mother would not be offended either way and these two coins do not have the sentimental value the 1967 coin does.
Any suggestions or feelings on which way gold is headed? I am used to buying coins by denomination and year, not speculating in precious metals. Do I wait until price rises to a certain point or falls to a certain point? I get the feeling these coins might have been bought at a time when gold was priced a lot lower than today as they are dated 1990.
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Pillar of the Community
Canada
5239 Posts |
Keep them all. It does not hurt to have a small portion of your investments in gold. Diversify.
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Valued Member
United States
142 Posts |
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Bedrock of the Community
Australia
21786 Posts |
A few questions:
1. Would your mother be happy if you sold them?
(This is the most important question)
2. Is there the potential of YOU regretting it at any time in the future, if you sold them?
3. Do you NEED the money from selling them?
Only YOU can answer these questions, because they are personal.
Don't worry about the gold bullion market; it is guaranteed to both rise and fall, but will definitely increase over a period of decades.
I have had gold coins for over 40 years, and my interest in the current gold price, (whatever it is), is almost nil.
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Pillar of the Community
 Canada
849 Posts |
Sel69, as I said in my post, my mother would not be offended either way and I do not need the money from selling them. Might I regret selling them - I don't think so.
Let us assume for a moment that I am looking at this strictly as an investment opportunity. My starting cost is zero so selling any time is a profit for me. But do I sell when prices are rising? Falling? Maybe I keep one and sell one but I do not need to sell right away unless I think the gold market is sinking.
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Bedrock of the Community
Australia
21786 Posts |
With gold prices, I haven't got a crystal ball.
Of all listed markets, the gold market is probably the most notorious for wrongly guessing what the short term future price will be.
When investing, some people cost average buys or sells in small amounts of money to get around this problem, but that is obviously not your intention, or where you are with what you currently have.
It seems to me that your best bet is to add whatever value you get from any sale should be added to your (as hinted) mutual fund.
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Pillar of the Community
United States
3789 Posts |
Who is to know where gold goes ultimately? I dont know and really in your case do this-
You dont have any risk at all with these gold coins. So keep them, you have a huge cushion to withstand dips in the gold market since they did not cost you anything.
As far as gold in the present time, its choppy at best.
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Bedrock of the Community
United States
12057 Posts |
Invest $1,000 in Dow/blue chip stocks in 1900; by 2000 your $1000 in stock is worth almost $20m, and by 2017 a meager $38m.
Invest $1,000 in 24 kt. gold bullion in 1900; that is enough at the time to purchase 48.37ozt. As of today, that same 48.37ozt. of gold would be worth about $60.4k.
In other words, the stock market has outperformed the price of gold by a ratio of about 637:1 given an equal initial investment.
Gold is useful for some things, but as an investment, it is historically outperformed by everything from Treasury bills to municipal bonds to common stock. Its main advantage is as a physical store of value, not paper backed by fiat, but even that is of limited benefit unless the preppers get their wishes fulfilled.
Member ANA - EAC - TNA - SSDC - CCT #890 "Most of the things worth doing in the world had been declared impossible before they were done." -- Louis D. Brandeis |
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Valued Member
United States
245 Posts |
I would sell those first thing Monday morning. I had 8 of them and they are the least durable, softest coin around. The four 9's pure make them awfully prone to denting, abrasions, etc., cash em in.
I'm not a fan of those Canadian coins anyway. The forever Queen on them turns me completely off...
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Pillar of the Community
Canada
849 Posts |
They sat in a safety deposit box for over 25 years so there is not a mark on them. Even if there was an abrasion they are not collector coins. The portrait of the queen in 1990 is not a bad one but the one from the 1950s is my favourite. By the time Charles makes it to the throne he will be so old, he will probably only live 5 years, the way the queen is hanging in there!
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Pillar of the Community
United States
4333 Posts |
I would keep, gold's value never changes.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Pillar of the Community
Canada
849 Posts |
Quote:
I would keep, gold's value never changes. It will always have value but for much of the 1990s it was trading at less than $400/oz U.S. Now it is over $1200/oz U.S. so I would not be so bold as to claim gold's value never changes. |
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Pillar of the Community
United States
3184 Posts |
Just keep it and hand it down to the kids or grandkids
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Pillar of the Community
Canada
3733 Posts |
a very nice gift indeed. and if money is not an immediate need; I would personally suggest you may want to flip one coin, into silver bullion, silver is low in price, and the trade ratio is very favorable to silver..
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Pillar of the Community
United States
4333 Posts |
Quote:
It will always have value but for much of the 1990s it was trading at less than $400/oz U.S.
Now it is over $1200/oz U.S. so I would not be so bold as to claim gold's value never changes. You are measuring gold's value in dollars. The 90's was a long time ago. It just shows how much inflation factors in today. When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
Edited by fistfulladirt
12/10/2017 6:04 pm
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Bedrock of the Community
United States
94367 Posts |
If you've been in gold instead of stocks the last 12 months, you're on the short end. I don't see that changing soon.
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Replies: 19 / Views: 3,338 |
Posted 12/09/2017 10:01 pm
