From the Doctor's Lounge™: Signs that the coin and bullion apocalyspe is near...
RYK
Posts: 35,800 ✭✭✭✭✭
After a grueling 90 minute case in the OR with my urology colleague, I popped into the Doctor's Lounge™ for lunch.
I could not help but notice that the shared computer was unattended with the kitco.com site on the monitor. In previous years, it might be the NASDAQ site or a Florida real estate website.
Then, I sit down to eat my veggie burger and read the WSJ. There, on the front page, is a teaser for this article, on page D1.
Props to forum members TahoDale and AlbaJohn. How did they manage to do an article without interviewing SaintGuru?
On the way out, an anesthesiology friend grabs me and wants to discuss which bullion coins to buy from the Mint or from APMEX. In years past, we talked about Cisco, JDS Uniphase, and Nortel.
These signs concern me...
PS If my brother-in-law, the gastroenterologist, who has come in too strong and too late to each of the recent bubbles calls me and asks what coins to buy, I will sell every coin I own at the next opportunity.
I could not help but notice that the shared computer was unattended with the kitco.com site on the monitor. In previous years, it might be the NASDAQ site or a Florida real estate website.
Then, I sit down to eat my veggie burger and read the WSJ. There, on the front page, is a teaser for this article, on page D1.
Props to forum members TahoDale and AlbaJohn. How did they manage to do an article without interviewing SaintGuru?
On the way out, an anesthesiology friend grabs me and wants to discuss which bullion coins to buy from the Mint or from APMEX. In years past, we talked about Cisco, JDS Uniphase, and Nortel.
These signs concern me...
PS If my brother-in-law, the gastroenterologist, who has come in too strong and too late to each of the recent bubbles calls me and asks what coins to buy, I will sell every coin I own at the next opportunity.
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Comments
I think it's a good thing that the masses are waking up to the fact that our currency is in crisis.
Coin Rarities Online
<< <i>what is it exactly that you're "concerned" about?? >>
It well known that when the doctors get interested in an investment it is a sure sign that the top is near.
(Disclaimer....I'm an Oncologist)
Seriously.
Ray
<< <i>When everybody is breaking down the doors to get in, it's time to get out.
Seriously.
Ray >>
So if doctors are buying it is time to sell and if they are selling it is time to buy........................
If it will help everyone feel better I'll mention I sold 90% of my proof AGEs when they recently hit $1500-$1600/oz.
Lots and lots of time to go.
Remember, the big indicator when to sell is when the DJIA equals One ounce of Gold.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
No offense, but my brother-in-law, the gastroenterologist, is a more reliable indicator. I am visiting him in Dallas next month. If he mentions coins or gold, I will be sure to report it to the forum.
<< <i>Remember, the big indicator when to sell is when the DJIA equals One ounce of Gold.
No offense, but my brother-in-law, the gastroenterologist, is a more reliable indicator. I am visiting him in Dallas next month. If he mentions coins or gold, I will be sure to report it to the forum. >>
Please send me a PM with the information before making a general announcement so that I might be able to dump my holdings before the ensuing panic.
In honor of the memory of Cpl. Michael E. Thompson
<< <i>
<< <i>Remember, the big indicator when to sell is when the DJIA equals One ounce of Gold.
No offense, but my brother-in-law, the gastroenterologist, is a more reliable indicator. I am visiting him in Dallas next month. If he mentions coins or gold, I will be sure to report it to the forum. >>
Please send me a PM with the information before making a general announcement so that I might be able to dump my holdings before the ensuing panic.
Will do.
It is my very strong opinion that this indicator is 100%. Seriously.
<< <i>Remember, the big indicator when to sell is when the DJIA equals One ounce of Gold.
No offense, but my brother-in-law, the gastroenterologist, is a more reliable indicator. I am visiting him in Dallas next month. If he mentions coins or gold, I will be sure to report it to the forum. >>
I hear you Ryk,
I have many friends/relatives who I'm keeping my eye on for an 'indicator'.
Many years ago when Gold jumped from $220 to $380, my Uncle at the time said "there's no way on Earth that Gold will ever go over $450".
Well I just learned the other day that he's been a heavy buyer since Gold reached $950. Now we're really doomed!!!
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
Is your shoeshine boy pushing gold?
<< <i>Remember, the big indicator when to sell is when the DJIA equals One ounce of Gold. No offense, but my brother-in-law, the gastroenterologist, is a more reliable indicator. I am visiting him in Dallas next month. If he mentions coins or gold, I will be sure to report it to the forum. >>
You are absolutely right. I see investors who make the same mistakes time after time. It isn't an accident. It is how their decision making process interacts with the natural order of the markets. --jerry
I'm not sure what to infer from this statement.
no not really.
there are definitelly pleanty of dates and mint marks in ALL series that one grade up means some serious money.
while coins have "become an investments against inflation and the dollar", so has gold. I guess right now we should all be selling gold because that's going to crash soon as well.
Rockefeller is quoted as overhearing a shoe shiner talking about his stock investments and how well he was doing. He realized that if a "lowly" shoe shiner who really didint understand the market could be making so much money, then there must be a really big bubble. So he sold his stock.
The fact that people are shelling millions of dollars for coin rarities is really nothing new. maybe crossing the million dollar mark is, but "Fine art" and other "collectables" have been in the millions for a good amount of time. Its only now that coins are moving up. "bragging rights for the nicest sets/coins" are really the same concept of having a van gough or a picaso- just $15,000,000 cheaper.
while RYK's gastro brother-in law- is inquiring about rare coins, is he not just looking at other forms of investment. better ways to diversify his hard earned money?
investors are coming in to diversify. Whales are still competing for the nicest collections. lower value stuff is dropping and becoming more affortable for us plankton.
It seems very different if people are coming in because of a boom (coin prices going through the roof like the 80's) rather than coming in because of a bust( of the us dollar)
just my opnion though.
comments more than welcome
<< <i>When Joe Kennedy's shoeshine boy started giving stock tips Joe knew it was time to get out of the stock market.
Is your shoeshine boy pushing gold? >>
Since I shine my own shoes, and rarely, I do not know how to answer the question.
Many years ago when Gold jumped from $220 to $380, my Uncle at the time said "there's no way on Earth that Gold will ever go over $450".
Okay, you clearly do understand.
while RYK's gastro brother-in law- is inquiring about rare coins, is he not just looking at other forms of investment. better ways to diversify his hard earned money?
He is not inquiring about coins or gold. He may never inquire. But if he does, it's time to start looking for a chair.
YECHHHHHHHHHH!!!
<< <i>I think this 'From the Doctor's Lounge' concept is a great idea for an ongoing column in CoinWorld. >>
Or a guest blog at CRO.
You gotta be kidding me. Anybody listening to any of this drivil......is not a true collector!!!
I think that many of us have collector coins and investor coins and some that overlap both categories. There are quite a few coins that I would not sell no matter what my brother-in-law says or does. But there are some I would sell with the intention of buying them back (or like coins or even better coins) at a lower level.
<< <i>Why would anyone even consider listening to someone who eats veggie-burgers? That's just sawdust, lawn trimmings and cellulose pressed together. It takes eating animal to make a man.
YECHHHHHHHHHH!!!
Okay, Mr. Man, let's see if you can out-man me in a 10 mile footrace.
Obscurum per obscurius
So if a coins gets sick take them to a coin doctor
<< <i>Since no one has whined about the WSJ article yet, the 1794 coin they referenced is a CENT, not a PENNY!!!!!
I've been thinking about that all day. They talked to all these numismatic heavyweights while they were writing that article but nobody informed them that in the US we don't have pennies?
<< <i>Zoinks! >>
Well said.
Interestingly, I picked up that article in our doctor's lounge. "The million-dollar penny" title caught my eye right away.
I think the article does a pretty good job of describing the collectibles market.
Jack
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
<< <i>Forget about the coins, I'm still squirming thinking about the 90 minute urology procedure.
..........OUCH......!!!!!...........
I have a feeling about interest rates
Experience the World through Numismatics...it's more than you can imagine.
Spend money that they can not afford
For something they know nothing about
Then the time for the music to stop playing
will be at hand.
Camelot
When humans refrain from anxiety and stress related to the desire to predict/control the future (for instance, when metal prices will plummet), they will have less need for medical interventions related
to High Blood Pressure, prostate issues, impotency (try Viagra), depression (try exercise), anger, paranoia, etc....and thusly, less time will be spent in doctor's offices wondering when the next shoe,
Gold, or an organ will fall/fail.........Vegie Burgers, really????
Miles
Camelot
Miles
<< <i>When everybody is breaking down the doors to get in, it's time to get out.
Seriously.
Ray >>
Its been my understanding that the laws of supply and demand strictly contradict what you are saying. If "everyone" wants gold, wont that be the push it needs to shoot past $2,000 and possibly well beyond?
Yup, gold has advanced 4.5X since 1999-2001 and is in a "bubble." Yet when the Dow advance to 4.5X it's low in the 1970's to about 3,000 in the early 1990's it still had a factor of 4.5X left in it. When oil went up 4X this decade to >$50 it still had a factor of 3X left in it.
This gold bull is being played on a much larger stage that will not even consider what J6P or his shoe shine guy is doing. This is between nations, central banks, big banks, institutions, and huge hedge funds. J6P can participate if he likes, but whether he does or not will not matter in the big picture.
roadrunner
Oh, they are. It's my brother-in-law buying his first 1/10 oz. AGE which, if and when it occurs, will be the time to sell all bullion-related coins and short the GLD (or buy puts, if you prefer).
recently i was reading from Abe Kosoff Remembers (recommended, by the way) and an article written in April of 1968 caught my attention and put gold into a historical perspective for me.......in the article, the author was comparing the present (1968) bull market for gold to the gold mania from "35 years earlier" (that defining year for gold, 1933)
what stood out to me was that many of the fears that account for gold's popularity today, were the same contributing factors in 1968 leading me to believe that gold might run a cycle that peaks approximately every 30 to 40 years......below is a portion of the article (you will momentarily think you are reading a current day newspaper were it not for the Vietnam reference)
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(text)
Even today, in the face of extraordinary expenditures for the undeclared war in Vietnam, with the need for untold billions to help the needy and underprivileged at home, the United States still remains the strongest and most powerful nation on earth.
Why, then, the concern? The concern is real because we have been generous in our aid to all nations. We have run ourselves into a debt which, if it didnt go any further, would represent no great problem. It is up to us to see that this debt does not continue to grow. Because we are not taking such precautions, holders of the United States dollars are becoming concerned. I have faith and confidence that the proper leadership will be forthcoming and that the dollar will still be the most sought after currency of the world. Perhaps we shall have to make the recipients earn it rather than get it as a gift!
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www.brunkauctions.com
Im already on record with a similar comment, although I dont see anything close to apocolyspe. I do see apathy. At least the first 2 letters are the same.
Edited to add (and agree) after seeing savoy's comment..........there is no such thing as "this time its different".
Knowledge is the enemy of fear
<< <i>Interest rates...
I have a feeling about interest rates >>
Please...!!!...Don't go there...!!!!...
margin.
From the gold ads I see on TV I'd estimate that the buying ads are running at 3X to 4X the volume of the selling ads. And for good reason. The goal is to drain J6P of all his gold long before loftier numbers are reached.
roadrunner
I knew it would happen.
<< <i>I've noticed the same around my office. More talk of precious metals... What to buy, when, where, etc.
I think it's a good thing that the masses are waking up to the fact that our currency is in crisis. >>
Our currency is still much stronger than most currencies. Just because of the value has fallen vs other currencies does not call for a "crisis"
All this talk of buying gold has me wanting to sell. Sort of like when my mailman wanted to give me stock tips.
Usually, it says, "Don't eat the chicken".
Camelot
I got a call today from a CEO friend in the Pharma industry commenting on the WSJ article. He was not buying just congratulating.
My thoughts were the same as RYK.
Not a good sign.
i too had a relative whose enthusiasm was my key short indicator on securities.
According to Adam Smith, the Gnomes of Zurich only buy in the depths of economic winter.