I'm sensing a panic in the market......a panic to buy GOLD!!

2manycoins2fewfunds

A panic to trade paper money for all forms of gold.

I'm seeing people paying truely crazy prices on ebay.

Look for a final blow out to the up side.

Trick is knowing when top arrives ......................

291fifth

Fear.

Bear

Fear leads to excess leads to danger leads to increased fear.

icsoccer

I was in my B&M yesterday. 2 fellows walked in and said they wanted to buy gold & silver bullion.
They walked out with $15000 in 10 min. The one said he wanted to spend $5k and when his bill was added up it was $4750.
He said whatchagot for 250? Added a French gold coin for 250 and he was happy.
All they wanted was to trade paper for bullion...their new "safe" haven...........

291fifth

When the masses think it is "safe" ...

jdimmick

Same thing, anything gold is flying out the door, as fast as it comes in. I knew I would have 4 of those spouse gold coins coming in this am, that prompted me to ask the question last night what is the market for these becuase I was going to BST em, they came in this am and lasted all of 10 minutes. Guy bought em all, took the gold coins out of the capsules and tossed the boxes, coa's and packaging right in the can.

RedneckHB

During a panic, that which is sold the most, usually turns out to be the best investment. Sure are an awful lot of dollars being sold.

cladking

<< <i>During a panic, that which is sold the most, usually turns out to be the best investment. Sure are an awful lot of dollars being sold. >>




We can't have a proper panic until the central banks toss in the towel.

By that time I would hope they have plan B to fall back on.

roadrunner

Sure are an awful lot of dollars being sold.

Undoubtedly. That's because they keep on making them far in excess of growth or any other metric. And then there are the "unofficial" dollars that are made that don't show up in the money supply numbers.

But for every FRN note sold.....there is a buyer as well it's just a matter of the price.

roadrunner

CaptHenway

As mentioned in the Precious Metals forum, we had a guy buy $4,000,000 worth of maple leafs this past week.

It is the second time he has done it this year.

TD

RedneckHB

Well the worlds central banks do have a lot of dollars to sell. A year ago they couldnt get enough as the world rushed into the dollar. Perhaps the word we are looking for is manic, rather than panic.

mozin

I am not buying gold, just because I already have enough. I figure a single French Rooster will fill my grocery cart nicely, including a good number of choice rib steaks. No question my gold is real, encapsulated by PCGS or NGC.

OnlyGoldIsMoney

At my local coin show in Pennsylvania I casually asked the dealer if he ever encounters novice buyers who want to buy gold. The answer was yes - lately several a day. He described first time buyers who had never purchased a single numismatic coin showing up with $5,000 to $10,000 in cash to load up on gold and silver. He was selling gold as quickly as he could get it in the door. People were not particular as long as it was gold.

mrearlygold

Nah, we're a long way from any of that kind of activity.

2manycoins2fewfunds

All these posts just confirm what I am seeing.

A lot of people wanting to trade paper for gold.

this will end badly for those buying at current inflated prices but I'm not prepared to say how long til peak is reached.

Likely sign of top will be when Time/Newsweek/Business Week or similar publication has bars of gold and stacks of gold coins on cover.

That will be sign it is time to sell..........................

Weiss

See the thing is that some of us don't see gold as a get rich quick scheme. We buy gold as insurance.
The economy may recover, and gold may drop to $400 an ounce.

Maybe.

But you don't cash in a life insurance policy after a successful CAT scan.

NumbersUsacom

when the dow first broke the 1000 barrier some thought it was a fluke, when it croosed 3000 some said it has to tank, when it hit 5000 some said thats the top, when it crossed 7000 they said well I guess I outa join this crazy ride, when it hit and passed 10,0000 most believed it was a new era and stocks were headed to some unknown moon shot of 30,000 and beyond. The ride lasted 18 years.

barbershopper

<< <i>All these post just confirm what I am seeing.

A lot of people wanting to trade paper for gold.

this will end badly for those buying at current inflated prices but I'm not prepared to say how long til peak is reached.

Likely sign of top will be when Time/Newsweek/Business Week or similar publication has bars of gold and stacks of gold coins on cover.

That will be sign it is time to sell.......................... >>



Ironic! Immediately under your post is an ad proclaiming gold is going to $2500 soon.
I think they're right.

JT

2manycoins2fewfunds

Watch for that magazine cover!! That will be your cue.

When the lay press gets on board we will be at a peak.

I don't pretend to know when or at what lofty levels it will occur but watch for the signs..............

It is already remarkable to see one ounce AGE proofs..............very, very common coins............selling for $850-$1000 over melt

Ultimate irony is this premium will almost certainly collapse when as expected US Mint resumes proof gold sales in early 2010!

jmski52

some of us don't see gold as a get rich quick scheme. We buy gold as insurance.

But you don't cash in a life insurance policy after a successful CAT scan.

As much as I disagree with Weiss about some other things, I agree on this.

Even if gold corrects, where would the relative value lie? It kinda depends on where everything else lands at the same time.

SUMORADA

But you don't cash in a life insurance policy after a successful CAT scan.

I don't know if that's the correct thng to do or not...but I sure do like the way you put it.......