Anybody else picking up some GOLD now?

CharlieB

With the spot price of gold rising, tensions in the mideast rising,
terrorism, Iraq and now North Korea is it any wonder that I am
refocusing a bit on gold? I called a local dealer who specializes in gold
and am buying some more raw $20 gold pieces tomorrow. He spreads a
bunch of circulated coins out in front of you and you pick and choose.
I'll try to get some I am missing, and that's a lot of them. Anyone
else thinking along these same lines like me, whether bullion
or numismatic gold? I am not saying its time to panic but maybe
just time to buy. We all know that any unexpected event could spike the
price of gold.

greghansen

I picked up 4 of the 1 oz. Chinese Panda coins a couple of weeks ago. If it can hold above $330 during this profit taking, I think it will be poised to make a serious run to break and hold above $350 before the end of January. I can't wait to see how active the gold action is at the FUN show next week.

darktone

I am still holding on to the gold I bought at $392 a few years back. mike

Blade

Only for collecting purposes. I'm working on gold dollars right now, so bullion content won't be much of a factor for me.

eagle7

Most of you gentleman and ladies have been around long enough to relate to this but maybe some have not. I used to buy lots of raw gold twenty libs and a few five indians and ten indians from an ole time dealer who is now no longer with us. The time frame here is 1993. I had those coins made at PCGS and most of the libs were ms64. Dates were 1901 and 1903. I copped a few beautiful saints also, including two with motto 1908's which went ms63. Any way I sold one coin, a 1908D five indian in a pcgs 63 holder, to JDRC in memphis in 1994 for 1575.00 wholesale. Gold was only 400.00 and oz then. I can buy those five indians now for 900 retail at most outlets. The twenty libs have already made a strong comeback in 64. Im happy I bought all that stuff. It made a sizable down payment on my new house in the country. I am now buying better date gold saints and five indians as fast as I can get my hands on the extra money and I suggest others do so as well. Also buy the highest grade possible, never going below ms63. Thats where the big money will go when the gold blowoff happens. You are wasting your time with bullion coins unless you are buying millions of dollars worth at once. Any gold coin prior to 1932 will do well in the higher grades, in any denomination or type. Remember, 63 and above. Also, I have found that NGC and PCGS are very close in their grading of this material. Stick with those two grading services. Use no other.

MrKelso

I have been buying right along a few times a month, Raw bullion like englehardt and credit suisse. I also like $20 pieces in MS 63 or higher or as i can afford with investment Dollars that i put aside. I will stop accumulating at $450 an oz and start dumping the bullion that i purchased at $255.00 at that point. It takes time to do it this way (years) and you have to keep accurate records with the bullion you purchased so you always know how much you purchased and at what price for each purchase made. My tax guy says it's like Dollar cost averaging, I don't know about all that but i do know that i am learning to make money while i sleep. Been learning how for 30 years now.

MacCoin

I can't afford ounces of gold but have been looking and thinking 1/10 oz gold coin maybe a kangaroos,maple leaf and an eagle. the Auzie lunar set is pretty nice too. at $40.00 a coin that is affordable.

MrKelso

<< <i>I can't afford ounces of gold but have been looking and thinking 1/10 oz gold coin maybe a kangaroos,maple leaf and an eagle. the Auzie lunar set is pretty nice too. at $40.00 a coin that is affordable. >>



Any one of these is excellent. I like the kangaroos, cool coins

AbesNeighbor

I agree with Eagle7. I've been accumulating gold coins...and Platinum eagle proofs which I don't consider bullion because 1) they are legal tender 2) they are beautiful and 3) they are low mintage.

Both gold and platinum have been moving up in value. Usually the dealers are asking for too much mark-up in bullion and I would rather buy numismatic issues..MS63 or better - PRdcam 69 or better.

Like everone else, I try to spread my investments out..I collect gold coins for the joy of collecting them. If they increase in value...so be it. I would much rather have a coin to look at than a gold bar with 30% mark-up.

Dan

Twowood

I'm trying to round out a "Twelve Piece Gold Type Set", so the price of gold doesn't concern me too much. So far, I've got all the cheap ones,now I'm in the high rent district...I'm looking for a $20 Gold Liberty Head for $150!!!! Twowood

coinrookie

I am still saving money for a few Saints and Indians. I only want a few type coins so IMHO the spot price of gold will not affect me that much.