I don’t know if I’m late to the party but last week, I purchased my first gold coin! 1908 No Motto Saint in MS62 (doily holder) from CRO. It feels good to be in the game. I try not to think that someone else looked at the same coin last month and thought, “Now is the time to sell!”.
@vulcanize said:
The price of gas seems to be more steadily climbing than gold in the past ten days
Gold really isn't up that much as a percentage. $100 is just 5%. Gold is up $160 in 30 days which is less than 10%. Oil, on the other hand, is up 20%.
Gold bugs are like gamblers. They only remember the wins. In the last year, gold is up to 16% and the stock market (S&P 500) is up 18%.
How is gold doing compared to the Russian stock market?
Sure. But not at all my point. After 10 years of trading flat, gold made a 10% move. People are overestimating the magnitude of the move.
Who is "overestimating the magnitude of the move"?
Many of the people hyping the moves in gold. A $20 move in gold is noise when the price is $1900+. Look at the "1850" thread. The thread was started almost a year ago when gold crossed 1850. Since then, the thread went silent whenever gold dropped and then started cheering the "breakout" when it went up. As of a month ago, gold was pretty much even with when the thread started despite 150 posts cheering upward moves.
Personally, I think the muted move in gold prices is surprising given the uncertainty in Europe. $150 move (8%) in the face of open warfare in the center of Europe seems more of a ho-hum event.
I'll lay down my prediction right now and you can hold me to it:
By Memorial Day, gold will be under $1900.
By the end of summer, gold will have broken $1800.
And, for the sake of full disclosure, I have gold. I've also been selling into strength and so I'm down to 20% of my position from a month ago.
@vulcanize said:
The price of gas seems to be more steadily climbing than gold in the past ten days
Gold really isn't up that much as a percentage. $100 is just 5%. Gold is up $160 in 30 days which is less than 10%. Oil, on the other hand, is up 20%.
Gold bugs are like gamblers. They only remember the wins. In the last year, gold is up to 16% and the stock market (S&P 500) is up 18%.
How is gold doing compared to the Russian stock market?
Sure. But not at all my point. After 10 years of trading flat, gold made a 10% move. People are overestimating the magnitude of the move.
Who is "overestimating the magnitude of the move"?
Many of the people hyping the moves in gold. A $20 move in gold is noise when the price is $1900+. Look at the "1850" thread. The thread was started almost a year ago when gold crossed 1850. Since then, the thread went silent whenever gold dropped and then started cheering the "breakout" when it went up. As of a month ago, gold was pretty much even with when the thread started despite 150 posts cheering upward moves.
Personally, I think the muted move in gold prices is surprising given the uncertainty in Europe. $150 move (8%) in the face of open warfare in the center of Europe seems more of a ho-hum event.
I'll lay down my prediction right now and you can hold me to it:
By Memorial Day, gold will be under $1900.
By the end of summer, gold will have broken $1800.
And, for the sake of full disclosure, I have gold. I've also been selling into strength and so I'm down to 20% of my position from a month ago.
@jmlanzaf I do think you miss the point of the 1850 thread (or what it is to me and many others). It is a place to post a coin that has a date that matches gold spot. Yes there are times where not many posts are made. I have posted nearly every gold coin I have pictures of. Some I don't have access to. You will also see that thread slow down because now we need stackers to put up year 2000 and above coins. When it hits 2022 that is the last coin I can post. It is the only coin I have between 1932 and 2022.
It is all just a fun thread but seems to not be fun for you. My hope is gold hits $1200 or less in the next few years so I can fill in a number of holes in my Liberty collection.
@vulcanize said:
The price of gas seems to be more steadily climbing than gold in the past ten days
Gold really isn't up that much as a percentage. $100 is just 5%. Gold is up $160 in 30 days which is less than 10%. Oil, on the other hand, is up 20%.
Gold bugs are like gamblers. They only remember the wins. In the last year, gold is up to 16% and the stock market (S&P 500) is up 18%.
How is gold doing compared to the Russian stock market?
Sure. But not at all my point. After 10 years of trading flat, gold made a 10% move. People are overestimating the magnitude of the move.
Who is "overestimating the magnitude of the move"?
Many of the people hyping the moves in gold. A $20 move in gold is noise when the price is $1900+. Look at the "1850" thread. The thread was started almost a year ago when gold crossed 1850. Since then, the thread went silent whenever gold dropped and then started cheering the "breakout" when it went up. As of a month ago, gold was pretty much even with when the thread started despite 150 posts cheering upward moves.
Personally, I think the muted move in gold prices is surprising given the uncertainty in Europe. $150 move (8%) in the face of open warfare in the center of Europe seems more of a ho-hum event.
I'll lay down my prediction right now and you can hold me to it:
By Memorial Day, gold will be under $1900.
By the end of summer, gold will have broken $1800.
And, for the sake of full disclosure, I have gold. I've also been selling into strength and so I'm down to 20% of my position from a month ago.
@jmlanzaf I do think you miss the point of the 1850 thread (or what it is to me and many others). It is a place to post a coin that has a date that matches gold spot. Yes there are times where not many posts are made. I have posted nearly every gold coin I have pictures of. Some I don't have access to. You will also see that thread slow down because now we need stackers to put up year 2000 and above coins. When it hits 2022 that is the last coin I can post. It is the only coin I have between 1932 and 2022.
It is all just a fun thread but seems to not be fun for you. My hope is gold hits $1200 or less in the next few years so I can fill in a number of holes in my Liberty collection.
I understand the point of the 1850 thread. But you do note that no one posted a coin on the way down, don't you? It's harmless fun, but it did illustrate a truth.
@vulcanize said:
The price of gas seems to be more steadily climbing than gold in the past ten days
Gold really isn't up that much as a percentage. $100 is just 5%. Gold is up $160 in 30 days which is less than 10%. Oil, on the other hand, is up 20%.
Gold bugs are like gamblers. They only remember the wins. In the last year, gold is up to 16% and the stock market (S&P 500) is up 18%.
How is gold doing compared to the Russian stock market?
Sure. But not at all my point. After 10 years of trading flat, gold made a 10% move. People are overestimating the magnitude of the move.
Who is "overestimating the magnitude of the move"?
Many of the people hyping the moves in gold. A $20 move in gold is noise when the price is $1900+. Look at the "1850" thread. The thread was started almost a year ago when gold crossed 1850. Since then, the thread went silent whenever gold dropped and then started cheering the "breakout" when it went up. As of a month ago, gold was pretty much even with when the thread started despite 150 posts cheering upward moves.
Personally, I think the muted move in gold prices is surprising given the uncertainty in Europe. $150 move (8%) in the face of open warfare in the center of Europe seems more of a ho-hum event.
I'll lay down my prediction right now and you can hold me to it:
By Memorial Day, gold will be under $1900.
By the end of summer, gold will have broken $1800.
And, for the sake of full disclosure, I have gold. I've also been selling into strength and so I'm down to 20% of my position from a month ago.
@jmlanzaf I do think you miss the point of the 1850 thread (or what it is to me and many others). It is a place to post a coin that has a date that matches gold spot. Yes there are times where not many posts are made. I have posted nearly every gold coin I have pictures of. Some I don't have access to. You will also see that thread slow down because now we need stackers to put up year 2000 and above coins. When it hits 2022 that is the last coin I can post. It is the only coin I have between 1932 and 2022.
It is all just a fun thread but seems to not be fun for you. My hope is gold hits $1200 or less in the next few years so I can fill in a number of holes in my Liberty collection.
I understand the point of the 1850 thread. But you do note that no one posted a coin on the way down, don't you? It's harmless fun, but it did illustrate a truth.
The thread does not have a lot of posters to it. I used all mine up on the way up. I would gladly post coins in both directions. You do understand that new, higher gold prices allow new coins to be posted. Going back down to old prices doesn't. I do not repost the same coins repeatedly. Maybe other threads have that.
@vulcanize said:
The price of gas seems to be more steadily climbing than gold in the past ten days
Gold really isn't up that much as a percentage. $100 is just 5%. Gold is up $160 in 30 days which is less than 10%. Oil, on the other hand, is up 20%.
Gold bugs are like gamblers. They only remember the wins. In the last year, gold is up to 16% and the stock market (S&P 500) is up 18%.
How is gold doing compared to the Russian stock market?
Sure. But not at all my point. After 10 years of trading flat, gold made a 10% move. People are overestimating the magnitude of the move.
Who is "overestimating the magnitude of the move"?
Many of the people hyping the moves in gold. A $20 move in gold is noise when the price is $1900+. Look at the "1850" thread. The thread was started almost a year ago when gold crossed 1850. Since then, the thread went silent whenever gold dropped and then started cheering the "breakout" when it went up. As of a month ago, gold was pretty much even with when the thread started despite 150 posts cheering upward moves.
Personally, I think the muted move in gold prices is surprising given the uncertainty in Europe. $150 move (8%) in the face of open warfare in the center of Europe seems more of a ho-hum event.
I'll lay down my prediction right now and you can hold me to it:
By Memorial Day, gold will be under $1900.
By the end of summer, gold will have broken $1800.
And, for the sake of full disclosure, I have gold. I've also been selling into strength and so I'm down to 20% of my position from a month ago.
@jmlanzaf I do think you miss the point of the 1850 thread (or what it is to me and many others). It is a place to post a coin that has a date that matches gold spot. Yes there are times where not many posts are made. I have posted nearly every gold coin I have pictures of. Some I don't have access to. You will also see that thread slow down because now we need stackers to put up year 2000 and above coins. When it hits 2022 that is the last coin I can post. It is the only coin I have between 1932 and 2022.
It is all just a fun thread but seems to not be fun for you. My hope is gold hits $1200 or less in the next few years so I can fill in a number of holes in my Liberty collection.
I understand the point of the 1850 thread. But you do note that no one posted a coin on the way down, don't you? It's harmless fun, but it did illustrate a truth.
The thread does not have a lot of posters to it. I used all mine up on the way up. I would gladly post coins in both directions. You do understand that new, higher gold prices allow new coins to be posted. Going back down to old prices doesn't. I do not repost the same coins repeatedly. Maybe other threads have that.
Maybe. Except there are a lot of dates that aren't represented that could have been... but people ignore gold when it isn't going up.
@vulcanize said:
The price of gas seems to be more steadily climbing than gold in the past ten days
Gold really isn't up that much as a percentage. $100 is just 5%. Gold is up $160 in 30 days which is less than 10%. Oil, on the other hand, is up 20%.
Gold bugs are like gamblers. They only remember the wins. In the last year, gold is up to 16% and the stock market (S&P 500) is up 18%.
How is gold doing compared to the Russian stock market?
Sure. But not at all my point. After 10 years of trading flat, gold made a 10% move. People are overestimating the magnitude of the move.
Who is "overestimating the magnitude of the move"?
Many of the people hyping the moves in gold. A $20 move in gold is noise when the price is $1900+. Look at the "1850" thread. The thread was started almost a year ago when gold crossed 1850. Since then, the thread went silent whenever gold dropped and then started cheering the "breakout" when it went up. As of a month ago, gold was pretty much even with when the thread started despite 150 posts cheering upward moves.
Personally, I think the muted move in gold prices is surprising given the uncertainty in Europe. $150 move (8%) in the face of open warfare in the center of Europe seems more of a ho-hum event.
I'll lay down my prediction right now and you can hold me to it:
By Memorial Day, gold will be under $1900.
By the end of summer, gold will have broken $1800.
And, for the sake of full disclosure, I have gold. I've also been selling into strength and so I'm down to 20% of my position from a month ago.
@jmlanzaf I do think you miss the point of the 1850 thread (or what it is to me and many others). It is a place to post a coin that has a date that matches gold spot. Yes there are times where not many posts are made. I have posted nearly every gold coin I have pictures of. Some I don't have access to. You will also see that thread slow down because now we need stackers to put up year 2000 and above coins. When it hits 2022 that is the last coin I can post. It is the only coin I have between 1932 and 2022.
It is all just a fun thread but seems to not be fun for you. My hope is gold hits $1200 or less in the next few years so I can fill in a number of holes in my Liberty collection.
I understand the point of the 1850 thread. But you do note that no one posted a coin on the way down, don't you? It's harmless fun, but it did illustrate a truth.
The thread does not have a lot of posters to it. I used all mine up on the way up. I would gladly post coins in both directions. You do understand that new, higher gold prices allow new coins to be posted. Going back down to old prices doesn't. I do not repost the same coins repeatedly. Maybe other threads have that.
Maybe. Except there are a lot of dates that aren't represented that could have been... but people ignore gold when it isn't going up.
Maybe and somewhat similar to the drop in Crypto people talking about that since it's 40% haircut.
@pcgscacgold said:
The thread does not have a lot of posters to it. I used all mine up on the way up. I would gladly post coins in both directions. You do understand that new, higher gold prices allow new coins to be posted. Going back down to old prices doesn't. I do not repost the same coins repeatedly. Maybe other threads have that.
True. Noticed that a lot of older silver and gold came on to the market whenever prices climbed.
@vulcanize said:
The price of gas seems to be more steadily climbing than gold in the past ten days
Gold really isn't up that much as a percentage. $100 is just 5%. Gold is up $160 in 30 days which is less than 10%. Oil, on the other hand, is up 20%.
Gold bugs are like gamblers. They only remember the wins. In the last year, gold is up to 16% and the stock market (S&P 500) is up 18%.
How is gold doing compared to the Russian stock market?
Sure. But not at all my point. After 10 years of trading flat, gold made a 10% move. People are overestimating the magnitude of the move.
Who is "overestimating the magnitude of the move"?
Many of the people hyping the moves in gold. A $20 move in gold is noise when the price is $1900+. Look at the "1850" thread. The thread was started almost a year ago when gold crossed 1850. Since then, the thread went silent whenever gold dropped and then started cheering the "breakout" when it went up. As of a month ago, gold was pretty much even with when the thread started despite 150 posts cheering upward moves.
Personally, I think the muted move in gold prices is surprising given the uncertainty in Europe. $150 move (8%) in the face of open warfare in the center of Europe seems more of a ho-hum event.
I'll lay down my prediction right now and you can hold me to it:
By Memorial Day, gold will be under $1900.
By the end of summer, gold will have broken $1800.
And, for the sake of full disclosure, I have gold. I've also been selling into strength and so I'm down to 20% of my position from a month ago.
@jmlanzaf I do think you miss the point of the 1850 thread (or what it is to me and many others). It is a place to post a coin that has a date that matches gold spot. Yes there are times where not many posts are made. I have posted nearly every gold coin I have pictures of. Some I don't have access to. You will also see that thread slow down because now we need stackers to put up year 2000 and above coins. When it hits 2022 that is the last coin I can post. It is the only coin I have between 1932 and 2022.
It is all just a fun thread but seems to not be fun for you. My hope is gold hits $1200 or less in the next few years so I can fill in a number of holes in my Liberty collection.
I understand the point of the 1850 thread. But you do note that no one posted a coin on the way down, don't you? It's harmless fun, but it did illustrate a truth.
The thread does not have a lot of posters to it. I used all mine up on the way up. I would gladly post coins in both directions. You do understand that new, higher gold prices allow new coins to be posted. Going back down to old prices doesn't. I do not repost the same coins repeatedly. Maybe other threads have that.
Maybe. Except there are a lot of dates that aren't represented that could have been... but people ignore gold when it isn't going up.
Maybe and somewhat similar to the drop in Crypto people talking about that since it's 40% haircut.
Yup. You don't hear a lot from the crypto crowd at the moment. But, it is the nature of gamblers and speculators...
When I was a kid, there was an Off Track Betting location within walking distance of my house. The guy across the street used to walk up there every day after work and then walk back home. Every now and then, he would be laughing and telling everyone that he won $X on a Trifecta. Most days, he didn't talk to anyone. I learned then that gamblers have short memories and only remember the wins.
@vulcanize said:
The price of gas seems to be more steadily climbing than gold in the past ten days
Gold really isn't up that much as a percentage. $100 is just 5%. Gold is up $160 in 30 days which is less than 10%. Oil, on the other hand, is up 20%.
Gold bugs are like gamblers. They only remember the wins. In the last year, gold is up to 16% and the stock market (S&P 500) is up 18%.
How is gold doing compared to the Russian stock market?
Sure. But not at all my point. After 10 years of trading flat, gold made a 10% move. People are overestimating the magnitude of the move.
Who is "overestimating the magnitude of the move"?
Many of the people hyping the moves in gold. A $20 move in gold is noise when the price is $1900+. Look at the "1850" thread. The thread was started almost a year ago when gold crossed 1850. Since then, the thread went silent whenever gold dropped and then started cheering the "breakout" when it went up. As of a month ago, gold was pretty much even with when the thread started despite 150 posts cheering upward moves.
Personally, I think the muted move in gold prices is surprising given the uncertainty in Europe. $150 move (8%) in the face of open warfare in the center of Europe seems more of a ho-hum event.
I'll lay down my prediction right now and you can hold me to it:
By Memorial Day, gold will be under $1900.
By the end of summer, gold will have broken $1800.
And, for the sake of full disclosure, I have gold. I've also been selling into strength and so I'm down to 20% of my position from a month ago.
So you are selling your gold into strength? Anytime someone buys an expensive coin or says they bought gold you jump in and make sure they know they should buy the s and p 500 index and they are making less on their purchases. Why do you have money in gold????
@vulcanize said:
The price of gas seems to be more steadily climbing than gold in the past ten days
Gold really isn't up that much as a percentage. $100 is just 5%. Gold is up $160 in 30 days which is less than 10%. Oil, on the other hand, is up 20%.
Gold bugs are like gamblers. They only remember the wins. In the last year, gold is up to 16% and the stock market (S&P 500) is up 18%.
How is gold doing compared to the Russian stock market?
Sure. But not at all my point. After 10 years of trading flat, gold made a 10% move. People are overestimating the magnitude of the move.
Who is "overestimating the magnitude of the move"?
Many of the people hyping the moves in gold. A $20 move in gold is noise when the price is $1900+. Look at the "1850" thread. The thread was started almost a year ago when gold crossed 1850. Since then, the thread went silent whenever gold dropped and then started cheering the "breakout" when it went up. As of a month ago, gold was pretty much even with when the thread started despite 150 posts cheering upward moves.
Personally, I think the muted move in gold prices is surprising given the uncertainty in Europe. $150 move (8%) in the face of open warfare in the center of Europe seems more of a ho-hum event.
I'll lay down my prediction right now and you can hold me to it:
By Memorial Day, gold will be under $1900.
By the end of summer, gold will have broken $1800.
And, for the sake of full disclosure, I have gold. I've also been selling into strength and so I'm down to 20% of my position from a month ago.
So you are selling your gold into strength? Anytime someone buys an expensive coin or says they bought gold you jump in and make sure they know they should buy the s and p 500 index and they are making less on their purchases. Why do you have money in gold????
I'm a part-time dealer. I acquire gold and silver bullion coins in the course of doing business. They are part of my inventory. Typically, I flip them almost as fast as I get them although I will sometimes hold some slabbed pre-1933 in the inventory if anyone wants to pay retail.
About 2 years ago, just before the pandemic, I had bought a bunch of foreign gold. The pandemic price surge happened and, given the economic uncertainty, I held it for most of the last two years and then bought more a couple months ago when a collection came around.
I only had about 6 or 7 ounces of gold. I sold about half at $1950. I sold about 25% at $1973. I'll sell the last bit in the next few days, if the price stays where it is. And I hope to rotate all the proceeds into stocks which have pulled back in the last couple months.
Per "investments", I've also said numerous times on this forum that you can make a lot of money trading gold and silver but you shouldn't hold it for long periods as the longer you hold it the more likely you are to underperform the S&P 500. My drumbeat remains the same.
Thank you for your interest in my investment opinions.
@vulcanize said:
The price of gas seems to be more steadily climbing than gold in the past ten days
Gold really isn't up that much as a percentage. $100 is just 5%. Gold is up $160 in 30 days which is less than 10%. Oil, on the other hand, is up 20%.
Gold bugs are like gamblers. They only remember the wins. In the last year, gold is up to 16% and the stock market (S&P 500) is up 18%.
How is gold doing compared to the Russian stock market?
Sure. But not at all my point. After 10 years of trading flat, gold made a 10% move. People are overestimating the magnitude of the move.
Who is "overestimating the magnitude of the move"?
Many of the people hyping the moves in gold. A $20 move in gold is noise when the price is $1900+. Look at the "1850" thread. The thread was started almost a year ago when gold crossed 1850. Since then, the thread went silent whenever gold dropped and then started cheering the "breakout" when it went up. As of a month ago, gold was pretty much even with when the thread started despite 150 posts cheering upward moves.
Personally, I think the muted move in gold prices is surprising given the uncertainty in Europe. $150 move (8%) in the face of open warfare in the center of Europe seems more of a ho-hum event.
I'll lay down my prediction right now and you can hold me to it:
By Memorial Day, gold will be under $1900.
By the end of summer, gold will have broken $1800.
And, for the sake of full disclosure, I have gold. I've also been selling into strength and so I'm down to 20% of my position from a month ago.
So you are selling your gold into strength? Anytime someone buys an expensive coin or says they bought gold you jump in and make sure they know they should buy the s and p 500 index and they are making less on their purchases. Why do you have money in gold????
I'm a part-time dealer. I acquire gold and silver bullion coins in the course of doing business. They are part of my inventory. Typically, I flip them almost as fast as I get them although I will sometimes hold some slabbed pre-1933 in the inventory if anyone wants to pay retail.
About 2 years ago, just before the pandemic, I had bought a bunch of foreign gold. The pandemic price surge happened and, given the economic uncertainty, I held it for most of the last two years and then bought more a couple months ago when a collection came around.
I only had about 6 or 7 ounces of gold. I sold about half at $1950. I sold about 25% at $1973. I'll sell the last bit in the next few days, if the price stays where it is. And I hope to rotate all the proceeds into stocks which have pulled back in the last couple months.
Per "investments", I've also said numerous times on this forum that you can make a lot of money trading gold and silver but you shouldn't hold it for long periods as the longer you hold it the more likely you are to underperform the S&P 500. My drumbeat remains the same.
Thank you for your interest in my investment opinions.
You're Welcome. I know you have a lot to say about others investing opinions so its fun to discuss yours. I still think there is some irony that you say "the pandemic price surge happened and given the economic uncertainty, I held [gold] for most of the last two years..." So I guess your ironclad rule to buy the s and p 500 and not invest in coins/gold was thrown to the wind when you had a hunch about the economy? Isn't this what you always preach to everybody else not to do and everyone should have just bought the s and p 500 10 years ago and done nothing else? Arent you the first person when anyone makes money on a coin to jump in and let them know how much they would have had if they had invest in the s and p 500? But you had a hunch and abandoned that strategy? By the way, your gold investment was you say because of the pandemic----looks like your gold went up but you were wrong as to why.
@vulcanize said:
The price of gas seems to be more steadily climbing than gold in the past ten days
Gold really isn't up that much as a percentage. $100 is just 5%. Gold is up $160 in 30 days which is less than 10%. Oil, on the other hand, is up 20%.
Gold bugs are like gamblers. They only remember the wins. In the last year, gold is up to 16% and the stock market (S&P 500) is up 18%.
How is gold doing compared to the Russian stock market?
Sure. But not at all my point. After 10 years of trading flat, gold made a 10% move. People are overestimating the magnitude of the move.
Who is "overestimating the magnitude of the move"?
Many of the people hyping the moves in gold. A $20 move in gold is noise when the price is $1900+. Look at the "1850" thread. The thread was started almost a year ago when gold crossed 1850. Since then, the thread went silent whenever gold dropped and then started cheering the "breakout" when it went up. As of a month ago, gold was pretty much even with when the thread started despite 150 posts cheering upward moves.
Personally, I think the muted move in gold prices is surprising given the uncertainty in Europe. $150 move (8%) in the face of open warfare in the center of Europe seems more of a ho-hum event.
I'll lay down my prediction right now and you can hold me to it:
By Memorial Day, gold will be under $1900.
By the end of summer, gold will have broken $1800.
And, for the sake of full disclosure, I have gold. I've also been selling into strength and so I'm down to 20% of my position from a month ago.
So you are selling your gold into strength? Anytime someone buys an expensive coin or says they bought gold you jump in and make sure they know they should buy the s and p 500 index and they are making less on their purchases. Why do you have money in gold????
I'm a part-time dealer. I acquire gold and silver bullion coins in the course of doing business. They are part of my inventory. Typically, I flip them almost as fast as I get them although I will sometimes hold some slabbed pre-1933 in the inventory if anyone wants to pay retail.
About 2 years ago, just before the pandemic, I had bought a bunch of foreign gold. The pandemic price surge happened and, given the economic uncertainty, I held it for most of the last two years and then bought more a couple months ago when a collection came around.
I only had about 6 or 7 ounces of gold. I sold about half at $1950. I sold about 25% at $1973. I'll sell the last bit in the next few days, if the price stays where it is. And I hope to rotate all the proceeds into stocks which have pulled back in the last couple months.
Per "investments", I've also said numerous times on this forum that you can make a lot of money trading gold and silver but you shouldn't hold it for long periods as the longer you hold it the more likely you are to underperform the S&P 500. My drumbeat remains the same.
Thank you for your interest in my investment opinions.
You're Welcome. I know you have a lot to say about others investing opinions so its fun to discuss yours. I still think there is some irony that you say "the pandemic price surge happened and given the economic uncertainty, I held [gold] for most of the last two years..." So I guess your ironclad rule to buy the s and p 500 and not invest in coins/gold was thrown to the wind when you had a hunch about the economy? Isn't this what you always preach to everybody else not to do and everyone should have just bought the s and p 500 10 years ago and done nothing else? Arent you the first person when anyone makes money on a coin to jump in and let them know how much they would have had if they had invest in the s and p 500? But you had a hunch and abandoned that strategy? By the way, your gold investment was you say because of the pandemic----looks like your gold went up but you were wrong as to why.
First of all, I don't have an "ironclad rule" to only buy the S&P 500. A balanced portfolio can also have things like bonds. I also don't consider a 2 year time horizon to exactly be an "investment" time window, it was more speculation along with my crypto holdings which I also don't consider to be "investments".
It is actually a fair point. If I had put that $10,000 into the S&P 500 two years ago, it was probably a better investment. But, we're talking about my inventory here. Exactly 0% of my inventory is invested in the S&P 500. My working capital is either in inventory or in cash. I can't be selling stocks every time I have a collection to buy. My choice here was not ever gold vs. S&P 500, it was gold vs. cash and I opted for gold for roughly 5% of my inventory. Feel free to consider that some kind of violation of my "ironclad rule" if you wish.
As to the "why", my gains were essentially all "disaster premiums". My original cost was $1580, so we're looking at about $200 in Covid premium and $200 in war premium. But, again, it was inventory not investment.
I currently have about $5000 in stamp inventory. I would LOVE to have that in the S&P 500 instead, but until they let me buy stock funds with U.S. postage, it kind of has to stay where it is. LOL. I also have $100,000 in cash which would be better off in the S&P 500 or U.S. Treasury bonds. But, again, it is business working capital NOT an investment.
PM’s aren’t really worth more, paper money is worth less. I just consider gold and silver inflation insurance and right now I am just in a holding mode. Collector coins are just a hobby.
@Smudge said:
PM’s aren’t really worth more, paper money is worth less. I just consider gold and silver inflation insurance and right now I am just in a holding mode. Collector coins are just a hobby.
Dollar has actually been rising against other currencies
To repeat a point that logger7 made, if the spot price of gold spikes, the numismatic premium of generic gold coins may shrink at the same time... so you have no guarantee your generics will keep up, on a % basis, with any spike in the spot price gold...
As with any precious metals thread on this and other online forums, the cherry baskets are always overflowing from all that picking.
I have gold in my holdings too, but I'm sure glad I didn't peg my retirement funds strictly on that over the last 3 decades. If I had done that, I'd be sitting in the corner in my underwear counting my gold coins and ingots and incessantly bitching about the breakouts that never seem to follow through. "Below $2000 again? Durrrrrrrrr..."
@ElmerFusterpuck said:
As with any precious metals thread on this and other online forums, the cherry baskets are always overflowing from all that picking.
I have gold in my holdings too, but I'm sure glad I didn't peg my retirement funds strictly on that over the last 3 decades. If I had done that, I'd be sitting in the corner in my underwear counting my gold coins and ingots and incessantly bitching about the breakouts that never seem to follow through. "Below $2000 again? Durrrrrrrrr..."
Gold is NOT an investment. Gold is insurance against the destruction of the dollar caused by high inflation due to reckless government spending.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
@ElmerFusterpuck said:
As with any precious metals thread on this and other online forums, the cherry baskets are always overflowing from all that picking.
I have gold in my holdings too, but I'm sure glad I didn't peg my retirement funds strictly on that over the last 3 decades. If I had done that, I'd be sitting in the corner in my underwear counting my gold coins and ingots and incessantly bitching about the breakouts that never seem to follow through. "Below $2000 again? Durrrrrrrrr..."
Gold is NOT an investment. Gold is insurance against the destruction of the dollar caused by high inflation due to reckless government spending.
That is the somewhat antiquated argument for gold.
Gold is a heavily hoarded commodity. If you plot the price of gold in inflation adjusted dollars, why isn't it's value constant?
Gold is a heavily hoarded commodity. If you plot the price of gold in inflation adjusted dollars, why isn't it's value constant?
Because those who buy gold during the extreme highs are irrational. I've seen prices fluctuate by over $100 in the last week. If you were unlucky, you could have owned gold for $2,050 an ounce at one point.
Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
Gold is a heavily hoarded commodity. If you plot the price of gold in inflation adjusted dollars, why isn't it's value constant?
Because those who buy gold during the extreme highs are irrational. I've seen prices fluctuate by over $100 in the last week. If you were unlucky, you could have owned gold for $2,050 an ounce at one point.
I'm not talking over short periods. I'm talking about long time frames.
Comments
Why stop at 2000$ an ounce - let's reach for the stars...............
"Gold Set For $5,000? It's A Matter Of When, Not If
Intelligent Investing
Clem ChambersSenior Contributor
Intelligent InvestingContributor Group"
"When they can't find anything wrong with you, they create it!"
Gold just broke above 2000
I can’t find a chart but nickel is also going crazy
How happy are you now that your gold is worth more?
"BREAKING NEWS: Oil surges above $120, Dow futures tumble as Russia-Ukraine war roils markets"
"When they can't find anything wrong with you, they create it!"
Happier than I'd be if it wasn't.
Gold in Asia hit $2,000 again for a few minutes.
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
I don’t know if I’m late to the party but last week, I purchased my first gold coin! 1908 No Motto Saint in MS62 (doily holder) from CRO. It feels good to be in the game. I try not to think that someone else looked at the same coin last month and thought, “Now is the time to sell!”.
Matt Snebold
So are you gonna sell yours to make a profit? Or do you just flap your wings in the breeze?
EDIT: Of course I forgot the picture..........
"When they can't find anything wrong with you, they create it!"
I'd be happier with gold back at $1700...
Sure. But not at all my point. After 10 years of trading flat, gold made a 10% move. People are overestimating the magnitude of the move.
https://markets.businessinsider.com/commodities/nickel-price
Not now. But it's better to have the option to do so than not to, don't you think? Or are you just going to flap your gums some more?
Who is "overestimating the magnitude of the move"?
Many of the people hyping the moves in gold. A $20 move in gold is noise when the price is $1900+. Look at the "1850" thread. The thread was started almost a year ago when gold crossed 1850. Since then, the thread went silent whenever gold dropped and then started cheering the "breakout" when it went up. As of a month ago, gold was pretty much even with when the thread started despite 150 posts cheering upward moves.
Personally, I think the muted move in gold prices is surprising given the uncertainty in Europe. $150 move (8%) in the face of open warfare in the center of Europe seems more of a ho-hum event.
I'll lay down my prediction right now and you can hold me to it:
By Memorial Day, gold will be under $1900.
By the end of summer, gold will have broken $1800.
And, for the sake of full disclosure, I have gold. I've also been selling into strength and so I'm down to 20% of my position from a month ago.
@jmlanzaf I do think you miss the point of the 1850 thread (or what it is to me and many others). It is a place to post a coin that has a date that matches gold spot. Yes there are times where not many posts are made. I have posted nearly every gold coin I have pictures of. Some I don't have access to. You will also see that thread slow down because now we need stackers to put up year 2000 and above coins. When it hits 2022 that is the last coin I can post. It is the only coin I have between 1932 and 2022.
It is all just a fun thread but seems to not be fun for you. My hope is gold hits $1200 or less in the next few years so I can fill in a number of holes in my Liberty collection.
Successful BST with drddm, BustDMs, Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
I understand the point of the 1850 thread. But you do note that no one posted a coin on the way down, don't you? It's harmless fun, but it did illustrate a truth.
The thread does not have a lot of posters to it. I used all mine up on the way up. I would gladly post coins in both directions. You do understand that new, higher gold prices allow new coins to be posted. Going back down to old prices doesn't. I do not repost the same coins repeatedly. Maybe other threads have that.
Successful BST with drddm, BustDMs, Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
Maybe. Except there are a lot of dates that aren't represented that could have been... but people ignore gold when it isn't going up.
Maybe and somewhat similar to the drop in Crypto people talking about that since it's 40% haircut.
Successful BST with drddm, BustDMs, Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
True. Noticed that a lot of older silver and gold came on to the market whenever prices climbed.
https://www.pcgs.com/setregistry/u-s-coins/quarters/PCGS-2020-quarter-quest/album/247091
Of course not........and yes!
"When they can't find anything wrong with you, they create it!"
Yup. You don't hear a lot from the crypto crowd at the moment. But, it is the nature of gamblers and speculators...
When I was a kid, there was an Off Track Betting location within walking distance of my house. The guy across the street used to walk up there every day after work and then walk back home. Every now and then, he would be laughing and telling everyone that he won $X on a Trifecta. Most days, he didn't talk to anyone. I learned then that gamblers have short memories and only remember the wins.
The Fallacy of Fairness.
It will haunt you long time.
Wonder what sort of situation this wuld lead up to?
Russian Gold Barred From World's Largest Gold Market
https://www.zerohedge.com/markets/russian-gold-barred-worlds-largest-gold-market
Russia use the Asian market?
https://www.pcgs.com/setregistry/u-s-coins/quarters/PCGS-2020-quarter-quest/album/247091
8.7c metal in USA 5c
3c metal in each copper cent.
1c metal in zinc cent
https://www.coinflation.com/
17c metal in 1955-81 Candian 5c
https://www.coinflation.com/canada/
So you are selling your gold into strength? Anytime someone buys an expensive coin or says they bought gold you jump in and make sure they know they should buy the s and p 500 index and they are making less on their purchases. Why do you have money in gold????
Gold is up 19.75% since March 8, 2021.
https://www.kitco.com/
I'm a part-time dealer. I acquire gold and silver bullion coins in the course of doing business. They are part of my inventory. Typically, I flip them almost as fast as I get them although I will sometimes hold some slabbed pre-1933 in the inventory if anyone wants to pay retail.
About 2 years ago, just before the pandemic, I had bought a bunch of foreign gold. The pandemic price surge happened and, given the economic uncertainty, I held it for most of the last two years and then bought more a couple months ago when a collection came around.
I only had about 6 or 7 ounces of gold. I sold about half at $1950. I sold about 25% at $1973. I'll sell the last bit in the next few days, if the price stays where it is. And I hope to rotate all the proceeds into stocks which have pulled back in the last couple months.
Per "investments", I've also said numerous times on this forum that you can make a lot of money trading gold and silver but you shouldn't hold it for long periods as the longer you hold it the more likely you are to underperform the S&P 500. My drumbeat remains the same.
Thank you for your interest in my investment opinions.
my wife is no longer complaining about my investments, now she calling me smart. patience is a virtue and a fruit of the Spirit
Silver is on fire today....up 5.6%
Am thinking that part of the reason in the spike of gold and silver right now may be attributed to the following
Senators look to lock down Russia's gold reserves
https://sports.yahoo.com/scoop-senators-look-lock-down-110056309.html
https://www.axios.com/scoop-senators-look-to-lock-down-russias-gold-reserves-04c6c7bb-cc32-4e72-981e-fa972c31a1a4.html
https://www.pcgs.com/setregistry/u-s-coins/quarters/PCGS-2020-quarter-quest/album/247091
You're Welcome. I know you have a lot to say about others investing opinions so its fun to discuss yours. I still think there is some irony that you say "the pandemic price surge happened and given the economic uncertainty, I held [gold] for most of the last two years..." So I guess your ironclad rule to buy the s and p 500 and not invest in coins/gold was thrown to the wind when you had a hunch about the economy? Isn't this what you always preach to everybody else not to do and everyone should have just bought the s and p 500 10 years ago and done nothing else? Arent you the first person when anyone makes money on a coin to jump in and let them know how much they would have had if they had invest in the s and p 500? But you had a hunch and abandoned that strategy? By the way, your gold investment was you say because of the pandemic----looks like your gold went up but you were wrong as to why.
First of all, I don't have an "ironclad rule" to only buy the S&P 500. A balanced portfolio can also have things like bonds. I also don't consider a 2 year time horizon to exactly be an "investment" time window, it was more speculation along with my crypto holdings which I also don't consider to be "investments".
It is actually a fair point. If I had put that $10,000 into the S&P 500 two years ago, it was probably a better investment. But, we're talking about my inventory here. Exactly 0% of my inventory is invested in the S&P 500. My working capital is either in inventory or in cash. I can't be selling stocks every time I have a collection to buy. My choice here was not ever gold vs. S&P 500, it was gold vs. cash and I opted for gold for roughly 5% of my inventory. Feel free to consider that some kind of violation of my "ironclad rule" if you wish.
As to the "why", my gains were essentially all "disaster premiums". My original cost was $1580, so we're looking at about $200 in Covid premium and $200 in war premium. But, again, it was inventory not investment.
I currently have about $5000 in stamp inventory. I would LOVE to have that in the S&P 500 instead, but until they let me buy stock funds with U.S. postage, it kind of has to stay where it is. LOL. I also have $100,000 in cash which would be better off in the S&P 500 or U.S. Treasury bonds. But, again, it is business working capital NOT an investment.
The topic is gold appreciation.
The reason this spike is interesting is because sentiment has evolved.
The dollar valuation looks unpredictable with massive debt, looming higher interest rates, inflation, and possible economic contraction.
Crypto has issues. Real Estate is illiquid at times especially in economic turmoil
So where is the store of value / safe haven? Why gold....and rare coins of course.
And now stock market is up 275
I enjoy the ride. Really saddened by some of the causes.
🎶 shout shout, let it all out 🎶
And the stock market is a sh** show right now. Kinda like BP numbers on the forum.
PM’s aren’t really worth more, paper money is worth less. I just consider gold and silver inflation insurance and right now I am just in a holding mode. Collector coins are just a hobby.
Dollar has actually been rising against other currencies
To repeat a point that logger7 made, if the spot price of gold spikes, the numismatic premium of generic gold coins may shrink at the same time... so you have no guarantee your generics will keep up, on a % basis, with any spike in the spot price gold...
Successful BST transactions with: PerryHall, wondercoin, gowithmygut, RonB, oreville
As with any precious metals thread on this and other online forums, the cherry baskets are always overflowing from all that picking.
I have gold in my holdings too, but I'm sure glad I didn't peg my retirement funds strictly on that over the last 3 decades. If I had done that, I'd be sitting in the corner in my underwear counting my gold coins and ingots and incessantly bitching about the breakouts that never seem to follow through. "Below $2000 again? Durrrrrrrrr..."
10-4,
My Instagram picturesErik
My registry sets
Gold is NOT an investment. Gold is insurance against the destruction of the dollar caused by high inflation due to reckless government spending.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
That is the somewhat antiquated argument for gold.
Gold is a heavily hoarded commodity. If you plot the price of gold in inflation adjusted dollars, why isn't it's value constant?
https://www.google.com/amp/s/finance.yahoo.com/amphtml/news/gold-cheaper-now-1980-075503888.html
http://www.simplestockinvesting.com/SP500-historical-real-total-returns.htm
Because those who buy gold during the extreme highs are irrational. I've seen prices fluctuate by over $100 in the last week. If you were unlucky, you could have owned gold for $2,050 an ounce at one point.
I'm not talking over short periods. I'm talking about long time frames.