If gold keeps trending downwards, do you intend to buy anything gold?

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TurtleCat
TurtleCat Posts: 4,692 ✭✭✭✭✭
in U.S. Coin Forum

Since I’m not a stacker, I’m excited by the lower spot price of gold. I’m hoping it goes down more so I can go on a miniature buying spree. While my gold dollars won’t be impacted much by spot I’m thinking of picking up a no motto saint and maybe a couple of indian quarter and half eagles.

What might you acquire if spot keeps going down?

Comments

  • jmlanzaf
    jmlanzaf Posts: 43,044 ✭✭✭✭✭
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    Bought an April GLD option today

    All comments reflect the opinion of the author, even when irrefutably accurate.

  • Mr_Spud
    Mr_Spud Posts: 7,272 ✭✭✭✭✭
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    Probably either a $3 Indian princess or a $20 liberty head, in high AU for my circulated type set

    Mr_Spud

  • MilesWaits
    MilesWaits Posts: 5,596 ✭✭✭✭✭
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    Good question. I tend to buy things as I find them and like them and can’t live without them.
    But I did buy a new road bike!

    Now riding the swell in PM's and surf.
  • coinbuf
    coinbuf Posts: 12,567 ✭✭✭✭✭
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    I did just buy a $1 gold coin, I still need a few more for my raw type set I have in a capital holder. If it gets low enough I will be looking.

    My Lincoln Registry
    My Collection of Old Holders

    Never a slave to one plastic brand will I ever be.
  • Downtown1974
    Downtown1974 Posts: 7,189 ✭✭✭✭✭
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    Of course I will.

  • Smudge
    Smudge Posts: 10,001 ✭✭✭✭✭
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    My be a good time to look for a nice Saint, but gold prices would have to be very low to affect truly scarce gold coins.

  • yspsales
    yspsales Posts: 2,670 ✭✭✭✭✭
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    I am contrarian and buying copper.

    BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out

  • BillJones
    BillJones Posts: 35,933 ✭✭✭✭✭
    edited February 26, 2021 4:06PM
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    I am sticking numismatic items. The last gold piece I bought was a King James I half laural (10 shillings) from the 1620s. The gold price does not affect the price of that very much. Prior to that I bought a 1937 half sovereign for a George VI coronation set.

    Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
  • Crypto
    Crypto Posts: 4,098 ✭✭✭✭✭
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    I am looking for a special gold coin currently and all I know what I pay will have almost nothing to do with spot

    11.5$ Southern Dollars, The little “Big Easy” set

  • koynekwest
    koynekwest Posts: 10,048 ✭✭✭✭✭
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    Gotta finish my Indian Head quarter eagle date set so I hope it stays down for a while.

  • ReadyFireAim
    ReadyFireAim Posts: 1,860 ✭✭✭✭✭
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    I'm not a stacker, but if gold kept going down, I might become one at some point.

    My Saint Set

  • jmlanzaf
    jmlanzaf Posts: 43,044 ✭✭✭✭✭
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    @MilesWaits said:
    Good question. I tend to buy things as I find them and like them and can’t live without them.
    But I did buy a new road bike!

    A gold road bike?!?!? Sounds like something out of the Somalia Mint.

    All comments reflect the opinion of the author, even when irrefutably accurate.

  • Smudge
    Smudge Posts: 10,001 ✭✭✭✭✭
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    @jmlanzaf said:

    @MilesWaits said:
    Good question. I tend to buy things as I find them and like them and can’t live without them.
    But I did buy a new road bike!

    A gold road bike?!?!? Sounds like something out of the Somalia Mint.

    Or Canada.

  • MilesWaits
    MilesWaits Posts: 5,596 ✭✭✭✭✭
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    Not Gold, not Canadian or Somalian, but has some chrome!

    Now riding the swell in PM's and surf.
  • ɹoʇɔǝlloɔ
    ɹoʇɔǝlloɔ Posts: 1,436 ✭✭✭✭✭
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    a bargain

    here's a coin to balance out the golden bike comment

  • TheMayor
    TheMayor Posts: 258 ✭✭✭✭✭
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    Looking at some recent realized prices of a couple of Saints I was tracking you wouldn't think gold was down at all.

  • vplite99
    vplite99 Posts: 1,434 ✭✭✭✭✭
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    @jmlanzaf said:
    Bought an April GLD option today

    Paper gold. By far the lowest transaction cost.

    Vplite99
  • fathom
    fathom Posts: 2,200 ✭✭✭✭✭
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    Yes i have been buying MS Indian Head 2.5 and 5 because they are beautiful with good metal flow luster,

    Prices are influenced by gold spot but not dependent.

  • CoinJunkie
    CoinJunkie Posts: 8,772 ✭✭✭✭✭
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    If it falls below $1500/oz., I'll be a buyer. Until then, there are better opportunities. IMHO, of course.

    My Roosevelt Dime Registry Set
  • jmlanzaf
    jmlanzaf Posts: 43,044 ✭✭✭✭✭
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    @vplite99 said:

    @jmlanzaf said:
    Bought an April GLD option today

    Paper gold. By far the lowest transaction cost.

    Yes. Perfect for a short term play. Only about $300 risk on the option which is effectively holding 10 ounces of gold. So, only need a $30 bounce to make it pay.

    All comments reflect the opinion of the author, even when irrefutably accurate.

  • TurtleCat
    TurtleCat Posts: 4,692 ✭✭✭✭✭
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    @TheMayor said:
    Looking at some recent realized prices of a couple of Saints I was tracking you wouldn't think gold was down at all.

    I agree, the prices haven’t adjusted yet. Some of that may be because the sellers bought at a higher spot and are hoping to not take a loss. If the spot price of gold stabilizes here for a while or gets lower they’ll have to start pricing lower.

  • erwindoc
    erwindoc Posts: 5,447 ✭✭✭✭✭
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    Finally, I might be able to finish my Liberty quarter eagle set!

  • ricko
    ricko Posts: 98,724 ✭✭✭✭✭
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    I am not buying.... My stacks are happy as is and not burdened with cost. Long since converted to pure profit. :) I will say that this is a dip before the inevitable rise, so, opportunity is knocking for those looking to get into PM's. Cheers, RickO

  • vplite99
    vplite99 Posts: 1,434 ✭✭✭✭✭
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    Unless crypto currencies completely displace precious medals as a hedge against too much fiat money being printed, a rise is inevitable.

    Vplite99
  • Walkerfan
    Walkerfan Posts: 10,391 ✭✭✭✭✭
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    Absolutely. I’ve been meaning to for many many years.

    Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍

    My Full Walker Registry Set (1916-1947):

    https://www.ngccoin.com/registry/competitive-sets/16292/

  • OliverDePlaise
    OliverDePlaise Posts: 102 ✭✭✭
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    I've bought it since $252 so why not? :)

  • oih82w8
    oih82w8 Posts: 13,206 ✭✭✭✭✭
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    I have not been able to hold on to gold when I did purchase it previously. Maybe if I had an UHR Saint I could hang on to it.

    oih82w8 = Oh I Hate To Wait _defectus patientia_aka...Dr. Defecto - Curator of RMO's

    BST transactions: dbldie55, jayPem, 78saen, UltraHighRelief, nibanny, liefgold, FallGuy, lkeigwin, mbogoman, Sandman70gt, keets, joeykoins, ianrussell (@GC), EagleEye, ThePennyLady, GRANDAM, Ilikecolor, Gluggo, okiedude, Voyageur, LJenkins11, fastfreddie, ms70, pursuitofliberty, ZoidMeister,Coin Finder, GotTheBug, edwardjulio, Coinnmore, Nickpatton, Namvet69,...
  • Lakesammman
    Lakesammman Posts: 17,696 ✭✭✭✭✭
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    I've noticed that people don't like gold when it's on sale, but will stand in line when it's overpriced.

    Very odd behavior .....

    Gone but not forgotten: IGWT, Speedy, Bear, BigE, HokieFore, John Burns, Russ, TahoeDale, Dahlonega, Astrorat, Stewart Blay, Oldhoopster, Ricko, Big Moose, Cardinal, CoinsAreFun.
  • blitzdude
    blitzdude Posts: 7,721 ✭✭✭✭✭
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    Up, down, sideways doesn't matter I always keep buying. When premiums get completely out of whack (as they are now) seems to be the only thing that slows the accumulation down.

    The whole worlds off its rocker, buy Gold™.
    BOOMIN!™
    Wooooha! Did someone just say it's officially "TACO™" Tuesday????
    Retiring at 55, what day is today? :sunglasses:

  • pcgscacgold
    pcgscacgold Posts: 3,827 ✭✭✭✭✭
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    I will add when the premiums come down. Gold is down almost $350 an oz but Double Eagles have not come down that much. If they don't come down I will continue to add pre 1860 gold.

    Completed All CAC approved Classic Head $5 set https://www.pcgs.com/setregistry/mysetregistry/album/344241
    CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572

  • MrEureka
    MrEureka Posts: 24,777 ✭✭✭✭✭
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    The price of gold is irrelevant to anything I would want to collect.

    Andy Lustig

    Doggedly collecting coins of the Central American Republic.

    Visit the Society of US Pattern Collectors at USPatterns.com.
  • johnny9434
    johnny9434 Posts: 34,049 ✭✭✭✭✭
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    Yes

  • PerryHall
    PerryHall Posts: 47,748 ✭✭✭✭✭
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    I consider this to be a buying opportunity for gold. With our national debt going up with no end in sight, I see inflation in our future.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • Cougar1978
    Cougar1978 Posts: 10,067 ✭✭✭✭✭
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    I buy / sell it on regular basis. Slabbed USA mods and World Gold.

    Investor

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