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 Replies: 20 / Views: 2,467 |
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Valued Member
United States
66 Posts |
How do you guys feel about the gold market atm? There's a lot of reasons, but I'm pretty bullish on real gold atm, and I've been buying up maple leafs, etc, as short term investments rather than for any nuministic value.
I really see gold topping $900 in the next year. Thoughts?
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Valued Member
United States
208 Posts |
The gold market can only get better, that's my opinion. The weakened dollar, inflation, it all tells me to go to gold\silver. Heck a 20oz Coke cost 1.25 at my college. Many of the Fox News business analyst(many are big dogs on Wall street) are shifting as much as 20% of their money into gold, so they say. My father and I are buying as much gold bullion as possible. My dad tells me of the days a hamburger cost 15c. For numismatic purposes I'm collecting ASE and placing them into AirTites, also collecting slabbed PCGS ASE. I have 6 so far so that leaves like 14-15 more to go! All the while, every 3-4mo we are buying a Gold Buffalo. My dad also likes the Morgan silver dollars, for their weight in silver, and because they are so old, nothing slabbed. |
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Valued Member
United States
455 Posts |
I googled historical gold prices, very interesting. Gold doubled between :
1932 and 1946
1946 and 1973
1973 and 1974
1974 and 1979
On 12/31/79 it closed at $578. Today it's at $624. Gold as an investment? I don't know. I guess timing is everything.
I do know that gold coins are absolutely beautiful. They're full of history and have tremendous numismatic appeal (from my perspective). I recently acquired 6-7 pieces and I love them. I would like to regularly add to my holdings. Any advice from the forum on how best to buy gold coins without getting fleeced?
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Valued Member
United States
208 Posts |
quote:
Originally posted by TSmith3510
I googled historical gold prices, very interesting. Gold doubled between :
1932 and 1946
1946 and 1973
1973 and 1974
1974 and 1979
On 12/31/79 it closed at $578. Today it's at $624. Gold as an investment? I don't know. I guess timing is everything.
I do know that gold coins are absolutely beautiful. They're full of history and have tremendous numismatic appeal (from my perspective). I recently acquired 6-7 pieces and I love them. I would like to regularly add to my holdings. Any advice from the forum on how best to buy gold coins without getting fleeced?
The 2006 Gold Buffalo started this year, minted by the US Government in .9999 24K gold, are minted in 1oz rounds and have a $50 face value. I'm personally in love with the gold 2006 Buffalo, it's the first pure gold coin I bought and looking at it is like nothing else. American Gold Eagles come in 1/10th, 1/4, 1/2 and 1oz sizes, and are a purity of around .91, so they are not pure gold like the Buffalo. Canadian Maple Leafs are pure 24kt like the Buffalo. So they are the 3 gold coins I would buy. Buy where ever the price is the best, and make sure the coin is still packaged in mint packing, this guarantees it's purity. The Gold Buffalo come in a bubble plastic pouch sealed by the US Mint. You can buy sealed mint tubes of the Eagles. Your best bet is to buy from a reputable dealer. My first Gold Buffalo was a slabbed MS-69 First Strike, and the only reason I bought it slabbed was because, couldn't beat the price, and I think it will be key date because it's the first year. Edited by RangerXLT8
11/02/2006 8:30 pm
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Valued Member
United States
390 Posts |
If you want to buy bullion gold or silver coins, this is the cheapest site I have found. I have purchased 6 bullion gold eagles from them so far, and have had no problems: http://www.goldcentral.com/qry/stor...273ad8a10fc5Wow, gold buffaloes are almost $650 now! That is up from $600 or so in the last couple of weeks. That's almost a 10% move. |
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Valued Member
United States
208 Posts |
quote:
Originally posted by Guido
If you want to buy bullion gold or silver coins, this is the cheapest site I have found. I have purchased 6 bullion gold eagles from them so far, and have had no problems:
http://www.goldcentral.com/qry/stor...273ad8a10fc5
Wow, gold buffaloes are almost $650 now! That is up from $600 or so in the last couple of weeks. That's almost a 10% move.
LAst time I checked that site, like a week ago, Gold Buffaloes were 600.13! |
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Pillar of the Community
United States
2365 Posts |
quote:
Originally posted by TSmith3510
I googled historical gold prices, very interesting. Gold doubled between :
1932 and 1946
1946 and 1973
1973 and 1974
1974 and 1979
On 12/31/79 it closed at $578. Today it's at $624. Gold as an investment? I don't know. I guess timing is everything.
I do know that gold coins are absolutely beautiful. They're full of history and have tremendous numismatic appeal (from my perspective). I recently acquired 6-7 pieces and I love them. I would like to regularly add to my holdings. Any advice from the forum on how best to buy gold coins without getting fleeced?
Do some research of the economical and World situations during those years and you'll understand the fluctuations in the metals markets. Gold is up almost 35% in the last year. kitco.com is a very good site for research. |
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Valued Member
United States
287 Posts |
Gold is a great investment. For an investor to hold gold for the peak of the market is foolish because you can not predict the future. Gold should be bought with moderation at different prices and sold the same way. Remember you do not go broke by selling at a profit. Try make a little profit on each sale and profits will add up, that way if you lose money on a sale it will also be small. Moving forward is what counts.
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Valued Member
United States
455 Posts |
Very interesting. I don't currently own a gold buffalo. Viewing them on line, I have to agree it's a beautiful piece. The link in Ranger's post lists them for $641. The US Mint has the proof for $800. I wonder if I should spend the extra $160 and go for the proof. Any thoughts?
Also, when acquiring older pieces, any suggestions where I can pick up some $20, $10, $5,etc., coins without paying a huge premium over spot prices?
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Bedrock of the Community
United States
20753 Posts |
Maybe it's just my opinion but I would never invest in any metals nowadays. In the past prior to scientific advancements in transforming of materials I would have said absolutely. I may be wrong but I forsee an advancement in the nuclear industry in transforming materials from one to another all to soon. It is presently being done on some materials at research facilities now. As most individuals are aware it is now being done making diamonds and soon enough the old Alchemst dream of transforming metals into Gold may well come true. Then where will the investments in such metals be if for instance Aluminum or Lead could be made into Gold?
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Valued Member
United States
208 Posts |
quote:
Originally posted by just carl
Maybe it's just my opinion but I would never invest in any metals nowadays. In the past prior to scientific advancements in transforming of materials I would have said absolutely. I may be wrong but I forsee an advancement in the nuclear industry in transforming materials from one to another all to soon. It is presently being done on some materials at research facilities now. As most individuals are aware it is now being done making diamonds and soon enough the old Alchemst dream of transforming metals into Gold may well come true. Then where will the investments in such metals be if for instance Aluminum or Lead could be made into Gold?
Once everyone can have as much gold as they like, it will no longer be significant. Another element will come up that will replace gld as the most valuable element. Maybe we will even find a metal that is softer then gold, or more dense. For right now I see gold as a solid investment. As for diamonds, they are a lovers loss. You can pay $10,000 for a diamond, walk out the door and not be able to get half of the $10,000 you paid for it. |
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Valued Member
United States
67 Posts |
I think gold will remain a good buy until the current U.S. political climate changes. This will happen either in 2008, or possibly, tomorrow! ( hehe )
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Pillar Of The Community
3147 Posts |
How can the U.S. political climate change when the current rules require a man/woman be filthy rich to run for national office. Our choices are nothing more than spoiled little rich kids who have NEVER had need for nothing, most have NEVER had to work a day in their life and NONE of them have a clue what a budget is, let alone how to balance one. They have never had to! The only real good a vote does is in your local elections and EVEN then money will play a tremendous role as elections have turned into nothing more than money politics. We are supposed to be thrilled with the fact there are choices? It doesn't matter whether they are Republicans or Democrats they are ALL in it together just as the auto manufacturers, oil companies and insurance companies. Its called "You pat my back and I"ll pat yours"! Nothing is going to change, just the bull being spread like butter across the media!
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Pillar of the Community
United States
1840 Posts |
quote:
Maybe it's just my opinion but I would never invest in any metals nowadays. In the past prior to scientific advancements in transforming of materials I would have said absolutely. I may be wrong but I forsee an advancement in the nuclear industry in transforming materials from one to another all to soon. It is presently being done on some materials at research facilities now. As most individuals are aware it is now being done making diamonds and soon enough the old Alchemst dream of transforming metals into Gold may well come true. Then where will the investments in such metals be if for instance Aluminum or Lead could be made into Gold?
The only reasonable means of manufacturing gold from another element would be by adding or removing the protons, neutrons and electrons from another element(s). The only two proven ways to do this is fission or fusion. Fission like in a nuclear power plant and fusion like in a nuclear bomb. The cost of energy alone would be prohibitive. I may be wrong, but I don't see this as happening anytime soon. Diamonds, both real and fake, are made from the same element; carbon. No fancy chemistry here, just lots of pressure needed. The technology is old (pioneered by GE in the 50's). I think gold will stay high due growing consumer markets in India and Asia and the finite supply of this particular metal. Edited by snowman
11/06/2006 7:41 pm
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Valued Member
United States
390 Posts |
quote:
Originally posted by TSmith3510
Very interesting. I don't currently own a gold buffalo. Viewing them on line, I have to agree it's a beautiful piece. The link in Ranger's post lists them for $641. The US Mint has the proof for $800. I wonder if I should spend the extra $160 and go for the proof. Any thoughts?
Also, when acquiring older pieces, any suggestions where I can pick up some $20, $10, $5,etc., coins without paying a huge premium over spot prices?
TSmith, First off, welcome to the forum!  I don't know if I would spend the extra money on the proof. Look on ebay for 2006 gold buffaloes and see what they are selling for, either straight bullion, graded bullion, proof coins and graded proof coins. This will give you an idea of the differences in prices for these types of coins. Is the proof worth another $160? I'm not sure about that. I would be inclined to buy an older $2.50 or $5 gold coin instead (I like the $20 St Gauden's, but they are much more expensive than that, however, for $800 you can find a nice coin on ebay. You just have to do your homework). You can also buy the bullion buffalo and send it out to be graded. If is comes back MS70, then you might make money, but I'm not sure how much more the graded coins are worth compared to bullion prices. ebay is one of the best place to buy coins without the premiums you mentioned. Coin shows are another choice, but I haven't been to one yet, so I don't know how they compare. Many other members here go to shows and say they are great. See if there is one in your area in the near future and check it out. |
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Valued Member
United States
397 Posts |
quote:
Originally posted by crystalk64
How can the U.S. political climate change when the current rules require a man/woman be filthy rich to run for national office. Our choices are nothing more than spoiled little rich kids who have NEVER had need for nothing, most have NEVER had to work a day in their life and NONE of them have a clue what a budget is, let alone how to balance one. They have never had to! The only real good a vote does is in your local elections and EVEN then money will play a tremendous role as elections have turned into nothing more than money politics. We are supposed to be thrilled with the fact there are choices? It doesn't matter whether they are Republicans or Democrats they are ALL in it together just as the auto manufacturers, oil companies and insurance companies. Its called "You pat my back and I"ll pat yours"! Nothing is going to change, just the bull being spread like butter across the media!
Could not have said it better myself. So, I just copied and pasted it... And they wonder why folks won't go vote. Easy, No REAL choice to make. MM  |
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Replies: 20 / Views: 2,467 |
Posted 11/02/2006 6:43 pm
