Gold coins anyone?
taxbuster1040
Posts: 354 ✭✭✭
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.
Velocity, Not Valuation Defines A Bubble.
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.