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GOLD $2500.?.............SILVER $100 ?

BearBear Posts: 18,954 ✭✭
How many times have we read this nonsense. Precious Metals do in fact

have a place in a prudent diversified investment program. Except for truly

talented traders, it is not a one way street to wealth. Rather PMs are an attempt

to protect a store of value in difficult time. At any given time, this may not be true,

but over a prolonged period of time it tends to do its job very well.


The hype is very similar to the big bull market in Morgan dollars years ago. They went sky high

with common dates selling for $1000 in MS-65 and they were scarce at that price as people

hoarded them. The pundits touted them as the nirvana to untold wealth in a one way road to

the stars. It is a little like the story of the hare and the turtle. Slow and steady wins the game

hot flashy characters come and go and are soon forgotten. Unfortunately, these creeps take a

lot of good people down with them.

If one recognizes the purpose of PMs ,as well as the investment limitations of quality, properly

priced rare coins, collected with care and held for a reasonable period of time, then you will enjoy

the fruits of your labor as well as the pride of ownership of some truly neat collectables and metals.
There once was a place called
Camelotimage

Comments

  • SUMORADASUMORADA Posts: 4,797

    Wise Old Bear....................image
  • ElKevvoElKevvo Posts: 4,054 ✭✭✭✭✭
    So true...now if only it would sink into my brain...

    K
    ANA LM
  • Well Said Bear!!
  • adamlaneusadamlaneus Posts: 6,969 ✭✭✭
    Yes, but it is now 25% less awesome than it was just a little while ago. 25% less shiny. 25% less lustery. 25% more depressing. Will the mint reprice. Will I get screwed? What about my silver doorstop? My gold frying pan? My platinum exhaust system?

    What to do! What to do!

    Oh, right. Buy more.

    image
    image


    It is nice of you to attempt to talk sense to the board. But do your words actually have influence over the panicked?
    Ah, well. At least I listen. And then I post some cr@p. +1.
  • KonaheadKonahead Posts: 1,476 ✭✭✭
    imageimage
    PEACE! This is the first day of the rest of your life.

    Fred, Las Vegas, NV
  • Coll3ctorColl3ctor Posts: 3,310 ✭✭✭
    image
  • imageimage
    I have been a collector for over mumbly-five years. I learn something new every day.
  • RedTigerRedTiger Posts: 5,608
    And now so many are convinced that prices for key date coins and early type coins are the one-way street to riches. Trees don't grow to the sky, and at some point the music stops and folks will find that most of the chairs have been taken away. Odds are that there will be quite a few bag holders amongst the crowd that is buying coins that have shot up 100% or 300% or 500% in price in a short period of time. Don't believe the hype, use some common sense.
  • ProofCollectionProofCollection Posts: 5,300 ✭✭✭✭✭
    You are right. PM's are used as a store of wealth, and during times like this, is superior to a savings account.

    If you believe the currency (dollar index) is going up, you want more dollars. If you think it is going down, you want more PM's.

    The US is currently facing a decreasing GDP and increasing money supply at record a rates. This is a recipe for a falling dollar index. Thus it makes sense to prefer PM's vs. a standard savings account.
  • BECOKABECOKA Posts: 16,957 ✭✭✭
    It will happen. image
  • Well said!
    -Rome is Burning

    image
  • BECOKABECOKA Posts: 16,957 ✭✭✭
    Anyone want to sell me some gold at $750? image
  • JoesMaNameJoesMaName Posts: 1,061 ✭✭✭
    When we start acting fiscally responsible and actually start shrinking the
    deficit (without the benefit of smoke and mirrors)
    then I'll start to worry about the future of the PM bull market.
    Paul - saved by
    The Fireman...
  • Classof67Classof67 Posts: 1,502 ✭✭✭
    Amen!
    GREAT BST transactions with Wondercoin, segoja, moderncoinmart, notwilight, wingsrule, 123cents, fivecents, hunted, alohagary, ibzman350, WTCG, sonofagunk, amigo, coincoins, dcgolfer, chumley, nycounsel, tootawl, guitarwes, kimber45ACP, Zubie, Egger, RYK, 1tommy, EagleEye, NEFPROLLC, jmdm1194, Coinfolio

  • "Anyone want to sell me some gold at $750? "

    I'll take silver at $12 all day long.

    image
  • DoubleEagle59DoubleEagle59 Posts: 8,157 ✭✭✭✭✭
    Bear, I agree with everything you say except for your first sentence.

    I sincerely believe that $2500 gold and $100 silver is not nonsense.

    These prices (and perhaps higher) will be attained at the peak of the PM bull cycle. How long they stay up there (1 hour; 1 day or perhaps 2 months) is anybody's guess. But looking back at 1980, I'm convinced this will happen.
    "Gold is money, and nothing else" (JP Morgan, 1912)

    "“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)

    "I only golf on days that end in 'Y'" (DE59)
  • jmski52jmski52 Posts: 22,289 ✭✭✭✭✭
    Bear - never say "never". Fact is, we really don't know what's going on in the economy anymore. They simply won't tell us straight up.

    I don't think that putting our financial system in high-tech mode was such a good idea. At some point, something's gotta be real.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • JoesMaNameJoesMaName Posts: 1,061 ✭✭✭


    << <i>...

    I don't think that putting our financial system in high-tech mode was such a good idea. At some point, something's gotta be real. >>



    I like your sentiment - It's starting to feel like a case of "All of the people some of the time"
    And time is running out.
    Paul - saved by
    The Fireman...
  • BearBear Posts: 18,954 ✭✭
    I never say ,or said, the word NEVER.

    I do not believe I said said that gold or silver could

    not eventually reach the august levels mentions.

    I merely said that hypsters are repugnant

    and detrimental to the well being of

    average folks. If we take inflation into account, the

    2500 gold and 100 silver are very possible at sometime

    in the future, just not in the immediate future.
    There once was a place called
    Camelotimage
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