Gold misery needs company

veryfine

It would be nice to know that I'm not alone.
I have been waiting for a few months for gold to take a nose dive in value so that I can add some coins to my collection.
Looks like that isn't happening. Gold keeps going up up up.
Make me feel better.

derryb

Try Silver.
Oops, that went up too.

Seriously, the bull is still very young. Start buying every graded gold coin you can afford as close to melt value as possible. There are still deals out there. Last week I bought just over melt, today it was worth more than I paid. IT'S ONLY THE BEGINNING, JUMP IN.

crispy

Now just isn't the time to be buying gold coins. A generic double eagle was $500 two years ago in AU and now is what $1000? Not worth it. Concentrate on other areas of your collecting and give more thought to the gold you can buy in the future for less.

veryfine

<< <i>Now just isn't the time to be buying gold coins. A generic double eagle was $500 two years ago in AU and now is what $1000? Not worth it. Concentrate on other areas of your collecting and give more thought to the gold you can buy in the future for less. >>


Good advice, and along the lines of what I was thinking.

lkenefic

<< <i>Now just isn't the time to be buying gold coins. A generic double eagle was $500 two years ago in AU and now is what $1000? Not worth it. Concentrate on other areas of your collecting and give more thought to the gold you can buy in the future for less. >>



My sentiments as well. I did buy one $5 gold last year when the price was hovering around $700/oz. It was my first gold purchase but if/when gold hits $1000 or more, I'll quickly loose sentimentality and sell it. I've been concentrating on other aspects of my collection... Early US copper and 7070 type.

L

DorkGirl

I started the gold page in my Dansco 7070 6 months ago. I've got some big holes to fill and am having a really hard time even looking right now.

derryb

<< <i>Now just isn't the time to be buying gold coins. A generic double eagle was $500 two years ago in AU and now is what $1000? Not worth it. Concentrate on other areas of your collecting and give more thought to the gold you can buy in the future for less. >>



IMHO, i disagree. Whether buying gold coins for your collection are buying them strickly as an investment, the smart money says today's $1,000 AU generic double eagle will reach $2000 in the not too distant future. This is the one area of collecting that is 99.9 percent dependent on the state of the economy and the value of the currency.

If you are waiting for prices to come down, don't. If it's just to high for you to buy, don't. But, if you are going to buy particular gold coins sooner or later, do it sooner.

percyb

You can buy half ounce, 1/4 ounce or 1/10 AGE from the mint...they're nice coins and fractionally less expensive than 1 oz coins.

cladking

A gold coin that was worth $900 three years ago and has $900 worth of gold
in it is still selling for $900. Go ahead and buy and then trade for what you want.

Some of this is like free money.

Snapdragon

The best way to force yourself into the market is to start dollar cost averaging in...immediately. Buy 1/4 oz evry week at whatever price the market gives you until you reach your investment goal. If your budget is bigger, do 1/2 oz coins...or 1 oz. Let the market give you an average price and stop sweating the short term fluctuations in the market. But get started ASAP.

Snap Dragon

BlindedByEgo

<< <i>A gold coin that was worth $900 three years ago and has $900 worth of gold
in it is still selling for $900. Go ahead and buy and then trade for what you want.

Some of this is like free money. >>





The spread between intrinsic and extrinsic value has shrunk - as it tends to in rapid price moves. If gold plateaus for awhile, I think that the spreads will increase again. Generic MS63 - 65 Saints haven't really moved up, have they?

I still think that it is a good time to buy.

veryfine

<< <i>A gold coin that was worth $900 three years ago and has $900 worth of gold
in it is still selling for $900. Go ahead and buy and then trade for what you want.

Some of this is like free money. >>


Cladking, would you clarify this statement for me?
Are you referring to generic gold, or scarce numismatic gold coins that are less dependent on gold price fluctuations?

BECOKA

An MS62 Indian quarter eagle selling for $500 over the last year or two is still selling in the same range.

An MS62 Indian half Eagle selling for $1200 a year ago is now selling between $800-$1000.

You can still buy gold coins. If you want to buy bullion that is another story.

cladking

<< <i>

<< <i>A gold coin that was worth $900 three years ago and has $900 worth of gold
in it is still selling for $900. Go ahead and buy and then trade for what you want.

Some of this is like free money. >>


Cladking, would you clarify this statement for me?
Are you referring to generic gold, or scarce numismatic gold coins that are less dependent on gold price fluctuations? >>



I don't know what coin you want to end up with but if I were going
to buy gold it would be something like an 1853-O $20 in really nice
attractive VF or "4" nice cherry picked 1992W olympics $5 coins.

These coins were worth $900 at much cheaper gold. If gold decreases
in price they'll probably still be worth $900. If the price goes up they
can be used to offset the cost of gold in whatever coin you are buying.

Most of the gold coin prices aren't going up as a reflex to higher gold
prices because there aren't the huge profits in buying and selling this
time and profits are being plowed into the coins that are getting more
attention. Unless you're looking for better gem gold the prices just
aren't up on anything except "junk gold" and very high end stuff.