Gone Gold

tneig · May 1, 2019 6:13AM

Sold off my last few ounces of the AGE's yesterday, including my Buffalo Proof. Served its purpose and the prospects for investment vs time wasn't worth it to me. I really shall miss it.

Deemed it a better risk choice than a dip into the growing IRA accounts. Still have various tubes of ASE's.

Downtown1974 · May 1, 2019 6:23AM

As long as it was the best play for you, that’s all that matters. You can always get more gold down the road.

TwoSides2aCoin · May 1, 2019 10:33AM

Still swimming in it. My wife thinks I waste time and money dealing with it. I think she's right.

Timbuk3 · May 1, 2019 11:40AM

Yup, I hear you guys loud and clear. I'm stuck with a whole bunch of gold waiting for something to happen !!! :'(

rte592 · May 1, 2019 1:21PM

I'm sitting on a little wish it was more, but if I squint and count every other finger....I could say what I have has paid for itself.

Downtown1974 · May 1, 2019 1:33PM

I’m a patient man. I have no problem at all holding on to my gold until the right time comes. Maybe the time will never come....then it becomes my daughters decision what to do with it.

Hemispherical · May 1, 2019 3:23PM

For now, still holding these heavy little “things” and the space they take up.

Agree @tneig don’t mess with the retirement stuff until you have to.

roob47 · May 1, 2019 6:12PM

im steady buying still but finding ways to buy cheap. That's the fun part

MsMorrisine · May 1, 2019 6:25PM

You'll be back...

blitzdude · May 2, 2019 5:45PM

Buy high and sell low. Whatever works for you. Congrats!

Hemispherical · May 3, 2019 6:37AM

@MsMorrisine said:
You'll be back...

Agree.

Once bitten by the Bug; will always carry the “Au-Virus.”

coinpalice · May 3, 2019 7:21AM

that's what happens when you only collect bullion, my Carson City $10 and $20 liberty golds have went up thousands of dollars since I bought them, buy coins that have numismatic value and you don't have to worry what the spot gold price is so much

ricko · May 3, 2019 8:12AM

I have a lot of gold acquired when prices were in the 3-4 hundred dollar range.... no need to sell. I did sell a couple of Britannia sets at gold peak (close to $2000/oz)....and they also were purchased at the early rates...I will hold my gold... no need to sell now...Cheers, RickO

tneig · May 3, 2019 12:13PM

Ricko; That's great you got G at those prices. Wow.
I came in during the spike where I don't have that safety margin and thus a slightly different view point. For me it then turned into 'pre-retirement, laid-off, needed cash' time, which fully served its purpose. Not sure there's all solid legs under the current price. In recent times, emergency cash is doing better.

Silver is another story. I can still jingle those in my hand. But the weight of an AGE will be missed.

@ricko said:
I have a lot of gold acquired when prices were in the 3-4 hundred dollar range.... no need to sell. I did sell a couple of Britannia sets at gold peak (close to $2000/oz)....and they also were purchased at the early rates...I will hold my gold... no need to sell now...Cheers, RickO

dan_marinelli · May 5, 2019 12:43PM

I'm sitting at about 27 ozs of au right now, a mix of us pre-33, AGE, US commem, and foreign. Short term goal is to get to 2 pounds of the stuff. Bought some at ~350/oz when it started creeping up. Still buying here and there when it's cheap. It is less than 5% of our net worth so don't think I am over-weight in AU. Hopefully the kids will have to figure out what to do with it. I like looking at it, but most of it is in SD box in MD. I live in FL!

PerryHall · May 5, 2019 12:53PM

@dan_marinelli said:
I'm sitting at about 27 ozs of au right now, a mix of us pre-33, AGE, US commem, and foreign. Short term goal is to get to 2 pounds of the stuff. Bought some at ~350/oz when it started creeping up. Still buying here and there when it's cheap. It is less than 5% of our net worth so don't think I am over-weight in AU. Hopefully the kids will have to figure out what to do with it. I like looking at it, but most of it is in SD box in MD. I live in FL!

You've exceeded your goal. There's 12 Troy ounces in one Troy pound.

Hemispherical · May 5, 2019 1:16PM

@PerryHall said:

@dan_marinelli said:
I'm sitting at about 27 ozs of au right now, a mix of us pre-33, AGE, US commem, and foreign. Short term goal is to get to 2 pounds of the stuff. Bought some at ~350/oz when it started creeping up. Still buying here and there when it's cheap. It is less than 5% of our net worth so don't think I am over-weight in AU. Hopefully the kids will have to figure out what to do with it. I like looking at it, but most of it is in SD box in MD. I live in FL!

You've exceeded your goal. There's 12 Troy ounces in one Troy pound.

@dan_marinelli

Have to ask. Is that 27 oz or 27 toz?

Edit to doodle:

-27 toz is 2 t lb 3 toz

Or,

-27 oz is 24.61 toz; 24.61 toz is 2 t lb ~6/10 toz

Either way goal is achieved for 2 t lb.

Unless were only using avoirdupois units:

-27 oz is 1 lb 11 oz

So, 5 oz short of 2 lbs.

Done doodling. ✏️

——-

All is good because it’s gold!

blitzdude · May 5, 2019 5:51PM

Only 2 oz's to go. Congrats in advance!

dan_marinelli · May 6, 2019 7:46AM

@Hemispherical said:

@PerryHall said:

@dan_marinelli said:
I'm sitting at about 27 ozs of au right now, a mix of us pre-33, AGE, US commem, and foreign. Short term goal is to get to 2 pounds of the stuff. Bought some at ~350/oz when it started creeping up. Still buying here and there when it's cheap. It is less than 5% of our net worth so don't think I am over-weight in AU. Hopefully the kids will have to figure out what to do with it. I like looking at it, but most of it is in SD box in MD. I live in FL!

You've exceeded your goal. There's 12 Troy ounces in one Troy pound.

@dan_marinelli

Have to ask. Is that 27 oz or 27 toz?

Edit to doodle:

-27 toz is 2 t lb 3 toz

Or,

-27 oz is 24.61 toz; 24.61 toz is 2 t lb ~6/10 toz

Either way goal is achieved for 2 t lb.

Unless were only using avoirdupois units:

-27 oz is 1 lb 11 oz

So, 5 oz short of 2 lbs.

Done doodling. ✏️

——-

All is good because it’s gold!

Is there one t oz in an AGE or just an ounce? I've not distinguished between these before. Is the spot price for t oz, or oz? When I buy a 2 peso Mexican is it .04824 t oz, or oz?

MsMorrisine · May 6, 2019 8:13AM

Gold Eagles -> 1 troy ounce of gold alloyed with copper and silver to make the coin weight more than 1 troy ounce. The added copper and gold also make them 22 Karat.

asheland · May 6, 2019 8:14AM

@dan_marinelli said:

@Hemispherical said:

@PerryHall said:

@dan_marinelli said:
I'm sitting at about 27 ozs of au right now, a mix of us pre-33, AGE, US commem, and foreign. Short term goal is to get to 2 pounds of the stuff. Bought some at ~350/oz when it started creeping up. Still buying here and there when it's cheap. It is less than 5% of our net worth so don't think I am over-weight in AU. Hopefully the kids will have to figure out what to do with it. I like looking at it, but most of it is in SD box in MD. I live in FL!

You've exceeded your goal. There's 12 Troy ounces in one Troy pound.

@dan_marinelli

Have to ask. Is that 27 oz or 27 toz?

Edit to doodle:

-27 toz is 2 t lb 3 toz

Or,

-27 oz is 24.61 toz; 24.61 toz is 2 t lb ~6/10 toz

Either way goal is achieved for 2 t lb.

Unless were only using avoirdupois units:

-27 oz is 1 lb 11 oz

So, 5 oz short of 2 lbs.

Done doodling. ✏️

——-

All is good because it’s gold!

Is there one t oz in an AGE or just an ounce? I've not distinguished between these before. Is the spot price for t oz, or oz? When I buy a 2 peso Mexican is it .04824 t oz, or oz?

Gold eagles have a full troy ounce in them.

Hemispherical · May 6, 2019 8:22AM

@dan_marinelli

Agree with previous posts, @MsMorrisine and @asheland, AGE has 1 toz of Au. The added silver and copper is to make it a bit less malleable. An AGE when weighed will be over 1 toz total.

Specs from the US Mint:

Composition: 91.67% Gold, 3% Silver, Balance Copper
Diameter: 1.287 inches (32.70 mm)
Weight: 1.0909 troy oz. (33.931 grams)

So, 1 toz of gold and 0.0909 of silver and copper.

Edit to add: Spot price of PM is normally in toz or grams unless otherwise specified.

dan_marinelli · May 6, 2019 11:37AM

@Hemispherical said:
@dan_marinelli

Agree with previous posts, @MsMorrisine and @asheland, AGE has 1 toz of Au. The added silver and copper is to make it a bit less malleable. An AGE when weighed will be over 1 toz total.

Specs from the US Mint:

Composition: 91.67% Gold, 3% Silver, Balance Copper
Diameter: 1.287 inches (32.70 mm)
Weight: 1.0909 troy oz. (33.931 grams)

So, 1 toz of gold and 0.0909 of silver and copper.

Edit to add: Spot price of PM is normally in toz or grams unless otherwise specified.

Thanks for all the replies! I guess I've been calculating in t oz all this time. Still going to buy more, however!

Hemispherical · May 6, 2019 11:39AM

@dan_marinelli said:

@Hemispherical said:
@dan_marinelli

Agree with previous posts, @MsMorrisine and @asheland, AGE has 1 toz of Au. The added silver and copper is to make it a bit less malleable. An AGE when weighed will be over 1 toz total.

Specs from the US Mint:

Composition: 91.67% Gold, 3% Silver, Balance Copper
Diameter: 1.287 inches (32.70 mm)
Weight: 1.0909 troy oz. (33.931 grams)

So, 1 toz of gold and 0.0909 of silver and copper.

Edit to add: Spot price of PM is normally in toz or grams unless otherwise specified.

Thanks for all the replies! I guess I've been calculating in t oz all this time. Still going to buy more, however!

Oh yes! More gold is good gold!

OnlyGoldIsMoney · June 26, 2019 10:01PM

I reached my lifetime stacking goal earlier this month - it took 10 1/2 years.

LukeMarshall · June 27, 2019 5:40AM

@OnlyGoldIsMoney said:
I reached my lifetime stacking goal earlier this month - it took 10 1/2 years.

Congratulations! I'm sure it is quite the collection as I've noticed your affinity for the nicest of PMs.

tincup · June 27, 2019 3:27PM

@OnlyGoldIsMoney said:
I reached my lifetime stacking goal earlier this month - it took 10 1/2 years.

And now you will probably spend the rest of your life trying to figure out the best way to dispose of it!

OnlyGoldIsMoney · June 27, 2019 8:00PM

@tincup said:

@OnlyGoldIsMoney said:
I reached my lifetime stacking goal earlier this month - it took 10 1/2 years.

And now you will probably spend the rest of your life trying to figure out the best way to dispose of it!

Indeed I will...most likely an ounce a month over a very long retirement.

Gone Gold

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