Looking To Buy Gold Bullion, Couple Questions

I believe a 10% position in PM's is a good thing. Investing in gold coins rather than bullion, will give you the best of both worlds however, bullion would be easier to unload for me because I tend to get emotionally attached to my coins.

personally just get as someone-thing you like and have some variety as well. I personally think its a waste of time to pay a huge alot more then something is worth but you got to got to look for deals until you find the right one. For example I bought right before Christmas a 2006 w one oz American buffalo proof graded for around 1450 due to ebay bucks and thats a descent compared to what the dealers have usually 100+ over melt. Dont buy any 1/10 oz coins or your going to be paying alot more for 10 vs a 1 oz coin

Checked my local shop and he has double eagles for $1450. Yes be careful with Craiglist ads...I go armed and always with a friend...be sure to meet in a public place...in front of the police station isn't bad

As always, thanks for all of the great advice. After everything I've been finding and reading I have leaned more towards silver. And now the gold...and the silver is more of a "if I find a good deal".

I actually just bought a 1oz silver eagle for 30$. And this will be better for me. especially for starting out.

But in all honesty... if I bought a double eagle, id think it would be so cool that I prob woudnt never sell it. Its like owning a piece of history and I would prob get attached to it.

Which is why I still would like a gold coin or two. But I think I'm going to patiently and hopefully wait for gold to drop.

I am probably going to get crucified for saying this but my 2 cents is Gold is a HORRIBLE investment if that's what your trying to do. Here are a couple of facts that nobody can deny.

1. A lot of people buy gold thinking when the economy collapses and we all go to heck in a hand basket that they are going to use their gold as currency. The last time gold was used as currency was during the Roman Empire. Yes, a very long time ago! Even during some of our darkest times, (the great depression), what do you think people wanted? Gold coins or bread to feed their family.

2. Look at golds performance since the country has kept track of it. It has not even kept up with inflation until the last 8 years. Before that it was terrible. Once the economy heals, gold will plummet again. It does it during every recession.

3. If you buy gold now, you are buying at the peak of the market. We don't buy houses and cars when interest rates are at their highest, we wait for them to go down, so why by gold at a peak.

4. Gold is worth no more then what society says it is. Gold is sky rocketing right now because everybody wants it. It has no intrinsic value by itself. There are tons of it and no shortages. Think about it, you see gold in every other store in a mall. If you could convince society that cardboard was priceless, the cost of cardboard would skyrocket. Everybody is jumping on the gold band wagon, that's why everybody is selling because they are making a killing.

5. Now, if you are buying so they will just have some nice coins, I personally like the Ultra High Relief 1 oz coin. That was a beautiful coin. I am sure they will love whatever you buy them.

6. Once again, this is my opinion. Don'T get me wrong, I have made my share of profit buying and selling gold but it is terrible for investment purposes. The only people you see telling you to invest in it are the people selling it. Just watch any finance show and you will not here them recommend gold unless they are advertising a company that sells it. Lets not forget, gold was dirt cheap 10 years ago.

I am still a newbie at coins but if this statement is correct, then you are telling me the St. Gaudens and every other US gold coin prior to 1933 was made for numismatic purposes?

I agree with you Jimineez but that's not saying much given my prognosticating record, especially in football

I do think any serious discussion about the current state of the economy, not just ours but the world's, must include the fact that we are in relatively uncharted waters. Gold detractors will say that mutual funds always outperform gold over any length of time. However, mutual funds have been around for how long? Very small period of time in the history of the world.

Gold supporters, especially those trying to sell it say that "gold has never been worth zero" but I am sure there are plenty that have lost their tails "investing in gold".

I think when we evaluate today's economic crisis we have to consider the role of fiat money, inflation and the role of the Feds.

I hope all turns out well and our economy returns to be as vibrant as it once was.

p.s.
We only have to look back at the Confederate economy's collapse when they began printing money like crazy. What was of real value when hyperinflation set in in the South? Food and other basic needs.