Stupid me, and two predictions.

ANACONDA

A few years back, I made the prediction on many occasions, that truly rare, early, classic, high quality, certified coins from China (Chinese coins, not reproductions of coins) would probably rise in value substantially.

Well, I forgot to post a thread about that. Anyway, recently Ponterio had an auction of the kinds of coins I'm talking about.

I think the auctioin happened in early December. Anyway, I saw an ad for the auction after it had occurred, so I called them up to find out how the auction went.

They said it was unbelievable, that the prices brought were "many multiples" of their highest expectations.

So, learning from my mistakes, I have a prediction to make, right here, right now. I predict that truly rare, early, classic, high quality, certified coins from China (Chinese coins, not reproductions of coins) will go up in value over the next 5 years even more than gold will. And I predict that gold will hit $8,000 an ounce 5 years or less from now.

ChrisRx

WoodenJefferson

At $8,000 per ounce, I'm tempted to knock Grandma's gold tooth out!

mumu

If gold goes to $8000 an ounce, bread will be about $1500 an ounce.

JamesMurray

<< <i>If gold goes to $8000 an ounce, bread will be about $1500 an ounce. >>



Yeah , Happy hour sounds about right lol , Gold is what .. lets say 1250 per oz today and a loaf of bread is ? Somewhere in the $2 range.It would then mean if gold was 8000 per oz wouldn't bread be more like 7 bucks ? A lot of people will be baking their own long before.

savoyspecial

Gold @ $8k = a world that looks like Mad Max

DuCrozat

<< <i>At $8,000 per ounce, I'm tempted to knock Grandma's gold tooth out! >>



There will be quite a few who don't chew with their mouth open if this happens.

ricko

Well, with gold currently exceeding $1400/oz, I would not say it was impossible, but unlikely. I believe the world's financial system will be revised prior to gold hitting that level. That, of course, is my opinion... and your opinion could indeed transpire. With oil exceeding $100/bbl, we are seeing serious weakness in the dollar. Cheers, RickO

ANACONDA

Not many people know, but it was revealed in late November or early December that the United States loaned $3,000,000,000,000 to European banks earlier last year.

BillyKingsley

I think that will happen, with the gold, but I think 5 years might be a little too soon for a time table.

I think the Chinese bit is spot on, though. Wish I had some laying around, almost. (Even if I did there is little likelyhood that they would leave my possesion!)

ambro51

Ill start collecting (and learning) Chinese coins after Ive collected the entire US coinage issue...which will be never.


8K gold? Youre talking about a catastrophic failure of the dollar. I dont think that will happen. A "war" will be engineered to prevent that.

ANACONDA

It is my firmly held belief that we are headed towards hyperinflation.

I believe this because our government WILL NEVER slow spending sufficiently to pay down the deficit (it would throw many voting government employees out of work and would throw our economy into a deeper recession than it is already in because our government is the biggest spender in our economy)

AND

our government certainly isn't going to raise taxes enough to pay down the deficit because any politician voting for that would be committing economic suicide.

This is what it will look like when you go off for some groceries for the weekend:

ambro51

Thats a pretty glum outlook from someone trying to sell mega dollar coins

PerryHall

This is one depressing thread.

derryb

<< <i>This is one depressing thread. >>


But it's Happy Hour!

ambro51

Hmmm Think Ill go sit in a dark room and listen to Radiohead.

timrutnat

That's interesting about the Chinese coins...makes perfect sense.

I agree with the $8K gold because I believe it will be revalued at some point. Along those same lines, I recently read a statement that said silver will go to a value of $200/oz and that's at today's prices. That is not an inflation-adjusted price. Prepare for some wild times in the metals!!

pitboss

<< <i>At $8,000 per ounce, I'm tempted to knock Grandma's gold tooth out! >>



Grandma beat you to it with her pliers at $7000.

ANACONDA

There is nothing inconsistent all all (in fact the opposite is true) with promoting and impliedly recommending mega dollar coins AND recognizing that hyperinflation is inevitably headed our way, and I don't think our government's move towards hyperinflationary is a depressing one, unless of course you have a lot of money in dollar denominated assests like bonds and CDs.

Rare mega dollar coins are a hedge against inflation....buying them when you think hyperinflation is headed our way is a good idea.

Additionally, we anticipate promoting gold bullion and the sellers of same on our site....because it goes well with hard asset people's interests and because I believe in gold.

For your information, our country probably needs to hyperinflate their currency, pay down the deficit with hyperinflated dollars (YOU'RE WELCOME, CHINA!....and would you like a little KY with that??????) and then come out with a new sound currency that is backed by gold. Shortly thereafter, the economy will improve and then it WILL BE happy hour.

Yes, it will be a sad day for everyone that had money in the bank and for those with pensions without cost of living increases, and for those who didn't buy hard assets, but having a country with a sick economy and no future is much worse.

mikeyg

8000.00 an ounce? I better run right out there and buy an ounce a month instead of paying the mortgage

sinin1

there is now a precious metals forum
and always has been a world and ancient coin forum
not sure of any place for political posts (unless your are a PCGS owner and have your own blog)


and now Don Willis has posted rules that are stuck on the top of the page
(and seems to frequently browse the forum and enforce them)

so a clock of US Coins

johnny9434

<< <i>

<< <i>This is one depressing thread. >>


But it's Happy Hour! >>



better extend happy hour then

ricko

Anal retentiveness is prevalent here. Cheers, RickO

ambro51

I would hate to see where the stock market is when gold hits 8K an ounce. No doubt every hedge fund would either be shorting it or cashed out and into gold for the ride up.

Chaos.

ChrisRx

$800/oz is a whole lot more likely than $8000/oz.

Justacommeman

I'm not sure about $8,000 an ounce gold but Adrian's basic premise I subscribe to as more then a distinct possibilty. Actually I would be more surprised if it didn't happen to some degree. Prepare or run the risk of being run over. To each is own.

I spend 5 months of the year in China and think there is still serious upside to early rare Chinese coins.

If my kids were still little they would be learning Mandarin instead of the Spanish that they took for 12 years. There is and will be a HUGE demand for talent that can speak Chinese and English. If you have younger kids I would urge you to seriously consider this.


MJ

Konahead

<< <i>This is one depressing thread. >>

pakasmom

<< <i>$800/oz is a whole lot more likely than $8000/oz. >>





..... and I like the clock!

JamesMurray

It is a cool clock , i can't help wonder though why the 5 minute increments are dimes rather than nickels.The others seem to match , 25c on the quarter hours and a half dollar on the half hour.

ambro51

I called my older daughter and told her to have the grandchildren learn chinese.

chaze215

<< <i>And I predict that gold will hit $8,000 an ounce 5 years or less from now. >>



$8000 an ounce eh? What are you smoking?
<////////////////////////////////////////////>

I agree with $800 an ounce WAY before 8K an ounce.

pontiacinf

Its been awhile since I have seen you around here, not sure what your up to but I wish you the best
in the New Year- Nice to see you can still get peeps out from under their rocks lol

roadrunner

Rare coins from China, India, Brazil, and other emerging nations seems like a no-brainer. Similar to getting into US coins back in the 60's or 70's. Now if IC.Com showcased the world's best Chinese coins in the states, that might get my attention. One has to wonder if the Chinese counterfeiters might get ahead of the US TPGs.

If gold goes to $8000 an ounce, bread will be about $1500 an ounce.

Hardly. Gold went up 25X in the 1970's and food prices in general didn't come anywhere near that kind of multiple. Bread and tuna prices certainly didn't soar. The world's economies didn't self-destruct because gold went from $35 to the unheard of price of $875. If gold would go to $8000/oz from here, I'd expect the price of bread to maybe double, possibly triple. $4-$6/loaf. That will allow it to catch up to the money supply increases over the past couple of decades.

roadrunner

BigE

If gold hits 8000.00 I probably wouldn't own any, I imagine I would have sold around 5000.00, hopefully, I guess---------BigE

renman95

$8k was my prediction 2 years ago on the PM forum. I said it would happen in 2012. Whether it happens then or not is immaterial. I'm saying it will reach a ridiculous number because nothing has changed since the Fall of 2008. In fact it has become worse.

DieClash

I remember reading "Head to Head" The Coming Battle among Japan, Europe and America by Lester C Thurow published in 1993. At the time the Japanese economy was the single-most rapid economy of the time. This was after the U.S. recession of the late '80s and the declining dollar against world currencies, especially the yen; and long before the extended decline of the Japanese economy.

I remember a passage from that book, and I will paraphrase it: ... If the Top 5 U.S.-based Corporations' Sales were compared to the GNP of the World's top economies, then these Compaines would rank in the Top 10 of all World economies. This is profound b/c The Top % U.S. Corporations represented a mere fraction of total U.S. GDP at the time. I think that is still true today.

The Dollar will be replaced by the Euro as the World's exchange currency of Choice long before gold reaches $4000 an oz. let alone $8000 an oz. I think we can look to history as our example here.

Yes, both China and India middle-classes are growing as both nations become the Manufacturers' to the World.

But in the '70s we were fearing Taiwan and in the 80's it was Japan, now it's India and China.

Albeit, the Great Recession of 2008-2009 was much worse then the Reagan Recession of '89-'01, the U.S. is still the most influencial and largest market in the World. What I worry about is the diminishing Middle Class population in the U.S. I don't believe that the natural maturation of 1st World economies should necessarily lead to Service economies of Manufacturing economies. And to this extent, I fear that our exporting of manufacturing jobs overseas spells more doom than the price of gold.

Cheers!

'

Kirk