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 Replies: 8 / Views: 1,338 |
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New Member
United States
15 Posts |
Hello
I am new to the forum, and completely new to investing in PM. I have two questions if any of you would be so kind to give me some input...
I am looking to buy gold bullion (probably American Eagle Coins). I consider myself a long term invester, and will likely hold these for several years. In other words, I'm not going to be buying and selling on highs/lows. Just looking for some long term hedges against inflation.
a. Is there any reason not to just get in now at the current prices?
b. Is there any advantage to buffalo coins over eagles?
Thanks in advance. Sorry if this gets asked and answered all the time.
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Pillar of the Community
United States
3670 Posts |
Welcome to the board! Many may say to late to buy now, but if gold really makes a move toward 5 grand in next few years, getting in now would be a good thing in my novice opinion.... I would say the Eagle is a bit more popular on what I have read here, and you can get it in many different sizes, where the Buffalo only comes in 1 oz I do believe. Both are very nice, and if I were you perhaps I would consider a mix of both.... If you can afford a roll of some now, chances are very good in the long run as you speak, you will do very nicely, as I expect gold to be beyond five grand in the time frame you speak.... Worse case, you are turning those weak dollars into something that will have about a 95% of only increasing in time, and that other 5% may fall under Alien invasion and the wiping out of the human race, rof  . I know there are no sure things in this world, but IMO gold Eagles are pretty close, esp in the long run.... |
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Pillar of the Community
United States
4008 Posts |
I just read on the US Mint web site that the Buffalo gold coins are 99.99% pure gold while the Eagles are 22k or about 91.7% pure gold. Both coins contain 1.0 oz. of gold, though. Personally, while I really do like pure metal coins a lot, the design of the AGE is absolutely gorgeous.
Neither of these is used as money on a daily basis, so there really isn't a need to harden the AGEs to withstand the normal handling of a circulated coin. Both of these coins will be handled VERY carefully and be very well protected by their owners against physical damage, no matter how soft their metal is.
Edited by Ed_B
04/27/2011 02:18 am
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Pillar of the Community
United States
505 Posts |
Getting into PMs at this time is a personal decision...Silver is very close to being in unknown territory and for someone to advise you to either wait or get in now would be the wrong thing to do....I believe youre going to have to trust your gut at this point and hope for the best
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Bedrock of the Community
United States
14454 Posts |
if I were to buy bullion gold it would probably be the buffalo instead of the AGE because the buffalo coins are 24k instead of 22k but that is just my opinion and what I always bought when I was buying gold
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New Member
 United States
15 Posts |
Thanks for the comments. It sure would be nice to see $5k gold, but I hate to think of what the state of our country will be in if it does get there.
I know it is difficult to advise people when silver and gold are at record level pricing. I think right now I'm going to hold off on silver and just focus on some gold. It will be interesting to see what Bernanke says today and how that will effect prices. In any case, I just don't want to buy and then see a 2-3% drop the next week. But that's the trick I suppose. If it was a sure thing, everyone would be rich in gold.
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Valued Member
United States
299 Posts |
for my gold, I do the gold buffalo proofs for several reasons
There are fewer produced so numismatic value will rise further
Proofs are far more beautiful than other
The buffs are in my eye, more interesting to admire than the eagles
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Pillar of the Community
United States
721 Posts |
Although I can't afford them, I was once advised to buy the 1 oz gold bars instead of the 1 oz AGE since the purchase price is closer to spot. So, if PM investment is important, you might consider those instead.
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Rest in Peace
United States
9104 Posts |
Quote:
I was once advised to buy the 1 oz gold bars instead of the 1 oz AGE since the purchase price is closer to spot. So, if PM investment is important, you might consider those instead. Here are one dealer's spreads today: Eagle 1539-1584 (45) Buff 1539-1604 (65) Bars 1507-1552 (45) They make more on buffs, and while bars are cheaper, you take an equal hit when selling, so the only advantage is more ounces if you buy a lot of gold at once. Used to be krands were cheaper because people thought they were illegal to own, but that difference is gone, meaning people who bought them got a bonus when they sold. |
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Replies: 8 / Views: 1,338 |
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Posted 04/27/2011 02:17 am
