Gold coins anyone?
taxbuster1040
Posts: 351 ✭✭✭
This really looks like we are starting a cycle of debasing our currency. I have been adding to my gold. Just doesn't seem like this will end well for the dollar.
https://finance.yahoo.com/news/fed-balance-sheet-increases-record-203304552.html
3
Comments
Deflation.
US 2008/2009
Japan 1995 to present.
All comments reflect the opinion of the author, even when irrefutably accurate.
@taxbuster, I have the same concerns.
I love me some gold. That has been my future and that will be my past.
With the idiot premiums on American Gold Eagles, I have resorted to a gold ETF.
I’m going to pass......the time to buy was $1200-1300K ....it’s a sellers market now.
The way the markets been ... the time to buy has past. Maybe next week.
Sitting on a bunch !!!
Mixed feelings here.
It's fine that gold is going up but I couldn't bring myself to part with any in my collection.
They might as well be made of wood.
I do have a few girls that haven't been invited to the prom though.
My Saint Set
I am sitting on quite a bit, but most of the value is numismatic. I might be wishing I had bought more common date $20 gold pieces years ago.
Not a good time to buy... though many are trying to do just that. For those of us who stacked for years (and a bit of collecting), we sit back and smile ....Cheers, RickO
I sold almost all of my silver bullion a couple of years ago because I was sick of storing it. I used the money to buy space saving gold coinage and AGEs. I did it out of convenience but it turned out to be a great move financially. Still not tempted to sell. Not tempted to buy bullion at these prices either. If a gold coin comes up for my type set, I’m still a buyer.
Time will tell whether or not the premiums will stick. I might expect the premiums to shrink while the price increases, which gives the same result either way. With $gazzilions being created out of thin air, I don't really think that the prices of pms will back off much, if at all.
I knew it would happen.
I'm in for a few. Set a client up a couple years ago. He transferred his entire 401k into a gold and silver IRA. Got the gold eagles (80) for around $1200 each. Am thinking he will do okay after the dust settles in his retirement, with about twenty years to go.
Yes I am happy for him. And a Good Friday to all.
``https://ebay.us/m/KxolR5
Just what is going to happen when the peasantry has spent their $1200 and more bills come due? We are entering uncharted economic territory.
Fwiw, gold tends to be a creature of habit. It took 51 months to bottom out following the Sept 2011 peak. And the spot $1703 peak that occurred last month occurred in month 51 from the bottom....very time symmetric. The volatility we're seeing now is basically the duplication of the whip-saws seen back in July 2011- Sept 2012 when gold was in the $1500-$1900 range. That one year left shoulder is now being duplicated on the right shoulder of the larger 8-10 year pattern. Anyone's guess how much it needs to retrace.
The peasantry is always happy with enough.
``https://ebay.us/m/KxolR5
Federal Reserve driving the wagon; gold just along for the ride. Gold is simply a barometer of confidence in the value of the currency in the face of massive money creations. Canary in the gold mine. Dollar insurance.
No Way Out: Stimulus and Money Printing Are the Only Path Left
So if gold isn’t your thing right now and you have some cash, where are you parking your cash?
Myself, can’t wait till the pawn stores open back up for buying customers.