Gold's rise good for the hobby?
northcoin
Posts: 4,987 ✭✭✭✭✭
Gold
$1,328.90 (+6.30)
01-12 1:18 AM EST
We haven't seen gold edging close to $1,350 for some time. If it continues its upward trend at the same rate we have seen since the tax cuts went into effect we could actually see a return to the $1,600 and above level where bullion gold coins seemed to be close to equally valued as non rare certified collector gold in MS-63 and MS-64 holders.
Not sure if that is a positive for those of who collect better date and better grade gold as opposed to accumulating gold for its intrinsic worth.
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If Au truly gets into an upward channel, getting past $1400 and staying there awhile, it would be a net positive for the hobby. Same with Ag staying above $20.
Geez, I hope so !!!
Yes!
Yes. It draws the attention of a wider audience to coins with gold content, which in turn exposes people again to the intrinsic beauty of and interest in many of them.
I'll be hanged if I know why PM prices are moving up now, though.
Here's a warning parable for coin collectors...
As gold goes up, the dollar (usually) goes down.... That is why stackers stack....I doubt this is a long term trend for gold or silver... Of course, my crystal ball is solid black...
Which means, many of my predictions have been wrong. Cheers, RickO
But remember as with any investment news, if you read about it in the paper, your too late you missed the boat.
Bob
Lordmarcovan, WTCG, YogiBerraFan, Phoenin21, LindeDad, Coll3ctor, blue594, robkoll, Mike Dixon, BloodMan, Flakthat and others.
if things hold true to form Gold should slip back close to $1300 at the close today and open up on Monday below $1300. that seems like it has been the manipulated pattern lately with Gold and Silver: up a little to excitement and then down a little more for a slow rise through the week.
it will eventually break out.
Not really sure...I think a lot of the folks who jump into 'coins' via the PM market do so at a time when the hype and associated prices are near a peak and then get sour on the whole thing when prices move south and they are buried in the items they bought during the boom. Being speculators they hold on to them waiting for prices to rebound so they can sell but often wait a long time and after that stay away. But...another boom in PM's and there will be another round of buyers!
K
Gold will be star performer along with Silver in 2018..Next stop for Gold is $1345..then $1358
Like I posted last couple of times.. use Bonus Buck offers to load up on gold
The higher is better
A strong 'yes' would be my answer.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
The dollar is weaker because the rest of the world perceives the U.S. As being in deep, deep trouble. Also, the Chinese have expressed an interest in not buying any more U. S. Treasury bonds. Consequently it takes more U.S. Dollars to buy gold.
It could be good for the hobby so long as the gold price does not get too high, say more than $1,700 or $1,800. Really high gold prices will price out many collectors, and when prices go up like rocket, they can crash and burn too, which can be very bad for the image of the hobby.
I love when gold prices go up.
Everything I have bullion-wise goes at $40 silver and $1800 gold. Then when it drops I'll buy even more. Lather, rinse, repeat.
No. As mentioned before, gold coins have potential to draw in new collectors (real collectors, not just people buying gold for emotional reasons), but high prices and lack of variety information frustrates many.
Well, here is where we are at after the close today:
Gold
$1,337.80 (+15.20)
01-12 5:00 PM EST
yes, it didn't slip back as usual, but that is only one day. a "trend" requires more time.
Deep, deep trouble seems like an exaggeration
Latin American Collection
Deep, deep trouble seems like an exaggeration
I don't know what the World thinks and "Deep, Deep" is probably an exaggeration, but we are in trouble. the economy isn't humming along despite the rosy 4% unemployment picture painted by our Uncle. the chaos emanating from Washington DC is unsustainable and the feeling I get is that American stature is slowly slipping around the World. a collapse of some sort or a major event or conflict seems almost sure to happen.
I say this with no knowledge of anything and I tend to be an optimist.
Collecting gold is a good habit. Collecting coins is a good hobby. Some of either isn't bad. Likewise, the rise in oil prices or palladium doesn't make it good for driving cars or trucks.
``https://ebay.us/m/KxolR5
And yet another day and even closer to $1,350.
Gold
$1,341.90 (+4.10)
01-15 4:15 AM EST
Many were drawn first to bullion before they fell in love with coins, at least that is what happened to me in the early 80s.
it depends on how much gold you already have as part of your portfolio. Diversified & Balanced one is always wise.
Rising price of gold is just what hobby/business needs.
A lot of small and medium sized dealers make more $$ trading in precious metals than trading in coins. Rising PM prices increases worth of their inventory, increases overall volume of business and profits.
Many dealers then roll increased profits into personal interests which often includes higher priced classics thus entire numismatic field is lifted by rising prices.
I won't even mention the benefit of increased destruction of the overhanging modern PM based coins such as first spouse series. If there was ever a series that could use a good trip to the smelter it is the overhanging supply of FS gold...................
A large % of modern MS/PR69s in silver, gold and plat will in time come to this end. ...............
resistance moving back around $1,325 and Silver/Gold/ climbing at 78:1, highest I have seen in a long time.
Always...:)
Looks like that "resistance" was short lived, unless the trend back up is just a "dead cat bounce."
As of this early Friday morning:
Gold
$1,334.70 (+7.30)
01-19 3:14 AM EST
northcoin, you seem to be obsessed with being right and proving I'm wrong, doing a cut/paste when Gold goes up to say "Ha, Ha, you're wrong" in some silly way.
just to be sure, I'm not disputing that Gold is up or hoping it doesn't rise higher. that would be good for my boss' business but won't really affect me in any way, I don't speculate on Bullion or hold anything. the sole intent of my first post was just to point out that this isn't anything unusual for the past several years, up and down, up and down, up and down, etc..........................if you follow the PM's(and the nature of the thread tells me you do) you should know the trend by now which is to rise a little during the week, close off a little and then open on Monday to repeat the pattern. over time there is a decline back to about $1,250 and then the game starts again.
I am more concerned with how the paper traders hurt the actual holders of physical silver. that's why I tend to watch the ratio which to my way of thinking should be closer to 50:1 and not the current 75:1 plus, which is where the powers that be choose to keep it.
Interesting commentary regarding what is happening with physical silver. Whether gold or silver one would assume there is some point where "the powers that be" lose control and the market begins to act rationally. The Hunt brothers attempt to corner the market comes to mind.
The rise in Gold affects those who own it, but in a more general term, the rise in Gold is always good for those who SELL it.
Pete
Any gold rise is good for the entire universe.
the Hunt Brothers were cheated by our Uncle who changed the rules on them.
You must be one of the eleven people smart enough to know the truth.
Uncle does not control margin requirements on futures contracts ...
The government definitely changed the rules in the middle of the game back in January of 1980.
It will be very interesting to see how badly the U.S. Dollar splunges on Monday.
Once again edging back up toward $1,350. Will be interesting to see if that threshold will break this time instead of following the pattern of recent weeks to only threaten a break through.
Gold
$1,340.30 (+6.60)
01-23 3:32 PM EST
Depends where it goes from here for commom coins. rare coins no effect.
A day later and still heading in an upward direction. To my recollection this as close as gold has gotten to the break through $1,350.00 level since it dropped below $1,350.00 what seems now like eons ago.
Gold
$1,347.60 (+6.20)
01-24 4:03 AM EST
Keep'um going !!!
that would be nice.
Dollar goes down, gold goes up.
https://www.barchart.com/stocks/quotes/$DXY/technical-chart
Now why would the world think that the dollar is a bad investment?
Check out
http://www.goldmansachs.com/our-thinking/pages/2018-global-economic-outlook-as-good-as-it-gets.html
In my opinion, if this is really true, gold should benefit and also most hard assets.
Katie bar the door if it runs anywhere near what a dollar plunge would do.
The klinker would be the lack of disposable income since "trickle down" became the mantra.
Stay flexible.
If $1,350 was the resistance point it no longer appears to be.
$1,360.00 (+18.60)
01-24 2:28 PM EST
Secretary of the Treasury sabotages U.S. Dollar:
http://thehill.com/policy/finance/370566-dollar-drops-to-3-year-low-after-mnuchin-praises-weak-us-currency?__twitter_impression=true
After my early morning posting gold flirted with dropping below the 1360 level, but ended up even higher (at least as of this evening.)
Looking back to the January 11th post that began this thread we still have a ways to go to reach $1,600, but it definitely is headed that direction:
"If it continues its upward trend at the same rate we have seen since the tax cuts went into effect we could actually see a return to the $1,600 and above level ..."
$1,364.30 (+6.00)
01-24 11:35 PM EST
All cash is a sure loss over time. Ever heard of a person make millions investing in CDs. I was a banker and the inside joke was a CD is really a certificate of depreciation. After taxes are paid on what little interest you earn and you back out inflation your under water in terms of where you were when you initially bought the CD.
Best thing I have found is quality stocks that pay your to own them in the form of a dividend.
Subsequent to my above posts I just came across this factoid confirming that those "eons ago" to which I referenced actually date back to July of 2016 when gold was last at $1,350.00.
"Gold Hits Key Price Level for Rapid Gains
By Nick Hodge
Written Jan. 24, 2018
Gold just hit a crucial milestone: $1,350.
This is a very important level for the yellow metal to hold.
I’m not a technical analyst, but I respect what they do and I listen when they have a strong opinion. And most technicians I talk to say that holding $1,350 is the crucial first step that can send gold much higher.
.....
The last time gold hit this level was back in July of 2016."