With price of gold going up, are you buying more now?

nwcs

I just pulled the trigger on a PCGS MS63 1908 NM saint for $480 that looks great. I was thinking that with the price of gold rising, this would be a great investment. What do you all think? Are you finding yourself buying more gold now before it rises more? Are you thinking about it?

Neil

Placid

Post a link to your new coin.

nwcs

Aye aye

Placid

Nice

AbesNeighbor

That's a pretty coin!

kieferscoins

Wouldn't now be the time to sell when it has gone up $40-50? Buying now when it is higher may be foolish if the prices drop back down. But then it could go higher, so you never know.

Cameron Kiefer

nwcs

The question is whether it is going to continue. I actually do think it'll go up more from here. And that's why I also get something like this that has numismatic value that is a hedge against the bullion value.

Johnscoin

Well, we're selling quite a bit here at the place I work at the moment. Lots of inquiries at least. I had heard that gold was going to stop around 350 and silver around 4.75 or 5.00, but that was over the summer...We'll see where it ends up and I'm personally hoping for a skyrocket...

wallstreetman

The $10 moves should start soon, maybe tommorrow!

gmarguli

Listen to all the amateurs talking about buying gold because it's going to go up in value. That's a clear sign it's not going to move up and instead come down.

nwcs

I didn't think I was that influential on the marketplace. Maybe I should buy up colonial coins to drive the price down.

gmarguli

Not just you. Everybody is talking about it. It's being talked about on CNBC. All the amateurs are talking about buying gold.

michael

coins are not an investment and gold along with generic items are a speculation

with gold rising everybody and their brother so to speak will be buyin/ considering buying and if it goes over 350 and closing in on 400 then i think it will be a buying frenzy

just human nature i think

just based on my past experiences in the coin/precious metals markets of the last 35 years

but i guess as with everything only time will tell

sincerely michael

nwcs

Well, when I'm buying gold (first gold purchase in >1 year) it's first for the numismatic value, then for the coolness of gold, then for the bullion concept. So when I say investment, I'm not thinking portfolio here. I'd rather dump that money into my 401(k)s and 403(b) than in coins. But smart buying of gold can always be good. I won't buy the gold eagles since they are just raw gold to me. But St. Gaudens and such have value beyond the mere gold content that hedges against the bullion to some extent.

wallstreetman

Greg, Jealousy will get you nowhere in this world! The ability to predict the future will!

MrKelso

<< <i>The $10 moves should start soon, maybe tommorrow! >>



$400 is when the bull market really kicks in.

gmarguli

Greg, Jealousy will get you nowhere in this world! The ability to predict the future will!

Jealousy? I'm jealous of the amateurs buying gold? That's an interesting interpretation of my comments.

coinrookie

Very nice. My second favorite coin. I am still saving for one. I read a report from Austin coins that says the best way to buy a gold piece is to buy it in ms 65 or higher. Then again, they just may be trying to sell a more expensive coin. I guess this gem grade affords some protection if gold prices drop. But after seeing how good yours looks in 63, I may re-think my decision to go only gem grade. It would also be alot more affordable. Again love that coin.
Steve

nwcs

Definitely more affordable! Higher grade gold coins carry too much of a premium for me to afford them. But I think smart buying of gold is always a good idea. And coins that are not considered bullion (like a GAE) always have room to make a good deal. I can't wait to see the coin in person. Hopefully it'll get here Saturday. My boss, it turns out, is a former currency collector and I told him about this coin this morning. He's interested in seeing it, too.

coppercoins

Actually the price of gold is of little matter in coins with intrinsic collector value. Bullion jumps or pits of 10% or less are rarely felt in the values of coins such as your new purchase. If you want the true effect of the rising/falling prices of gold, buy Eagles and watch the roller coaster.

My gut feeling is that gold will rise again when the war starts, then fall during. Best time to buy is any time before the war (we know it's going to happen, and signs point to January or February) and sell shortly after the war starts. I personally don't put much in the metals, too volatile - might as well buy pork bellies.

nwcs

That's true, but when I got my first saint the price of gold was about $300. It's definitely risen in value since then for what I paid.

But no matter what, I collect only what I like and what I appreciate. But I would by lying if I said I wasn't influenced on timing now and then.

jtryka

I have definitely shifted my buying patterns from common date gold to the keys (recently picked up an 09-D and 13-S Saint). The problem as I see it, is that a jump in gold affects the common dates much more, and if I wanted to just invest in gold, I'd buy bullion. Here's a good example: starting in 2000, when gold was languishing in the $270 range I started collecting saints, and you could buy all the MS-63 14-S and 15-S Saints you wanted for $400 each. Now they run $500-550, so that's a 25%-38% increase! (I checked, and I couldn't find what I paid for my 08-NM in 64, but I think it was around $475, I did check my Heritage purchases though, and the highest I paid for a 15-S in 63 was $419 before the runup). Now look at the keys: I paid $685 for my 09-D in PGCS AU-55, according to the Heritage archives, they sold one for $506 in an NGC slab in 1995, and one in an ANACS slab in January 2002 for $661. So a much smaller jump in overall price. So overall, I think that the common stuff is moving up with gold, but the better date stuff is undervalued, and has much better upside long-term (and of course, I need those key dates for my set!).

oreville

Jtryka: Ugly icon!!!!

If you are going to buy a gold piece for your collection there is nothing wrong with acccelerating your purchase if it is a nice coin that is not easily replaceable because you might not get another chance. Other than that, gold is just a store of value to protect against possible inflation or deflation. But then again silver is much cheaper relative to the face value of the US coin's face value. There you can get real numismatic possibilities for not a heck of a lot over face value and probably even under numismatic value as well??????

Personally, I like mint state (MS-63 on other than the 1904-P) liberty $20 pieces way more than the St. Gaudens!!!


Coppercoins: I didn't know you were an expert on pork bellies?????

michael

overall if gold keeps going up and/or remains strong you will be in a nice profit position with this coin that will be easily saleable in a rather short period of time

sincerely michael

JLW

am-a-teur; n. [Fr.<L. amare, to love] 1. one who does something for pleasure, not for pay.
This amateur thinks it will go yet higher, not selling off real estate to buy it though.
Joe

roadrunner

With all us amateurs talking about buying moderns, classics, gold, etc. what's left for us to buy that would be safe since by definition everything we talk about is targeted to go down. Wait, I have it, the pros are saying to buy stocks and hold for the long term. That's what I'll buy. I feel protected now.

roadrunner