The Gold Rush . . .
jimmymac
Posts: 505 ✭
How many of you have loaded up your portfolios on gold eagles and generic gold coins in anticipation of gold going to the moon?? If the Fed lowers interest rates 8/18 (as anticipated), look for gold to continue its trip north - any goldbugs on the forum??
currently putting together a EF/AU/BU 18th & 19th Century Type Set; and CC Morgan Set
just completed 3d tour to Iraq and retired after 28+ years in the US Army
just completed 3d tour to Iraq and retired after 28+ years in the US Army
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San Diego, CA
so what is the best buy at the mint
"Inspiration exists, but it has to find you working" Pablo Picasso
link to 4000 post gold thread
<< <i>The longest thread on this coin board is mostly about gold. The post count is currently 4000+. A high percentage of the forum's numerous gold bulls (and a handful of bears) have chimed in on that thread. At 10 seconds to read each post, it would take about 11 hours to read the entire thread. Enjoy
Icatid=26&threadid=344922&highlight_key=y&keyword1=economic">link to 4000 post gold thread >>
I have read the entire thread and it is very interesting and I learned what my mind could absorb but these guys are way over my head.
<< <i>I'm actually married to a gold digger.
<< <i> If the Fed lowers interest rates 8/18 (as anticipated), look for gold to continue its trip north - >>
Why?
The dollar trades lower, gold is priced higher in terms of dollars
<< <i>
<< <i>The longest thread on this coin board is mostly about gold. The post count is currently 4000+. A high percentage of the forum's numerous gold bulls (and a handful of bears) have chimed in on that thread. At 10 seconds to read each post, it would take about 11 hours to read the entire thread. Enjoy
Icatid=26&threadid=344922&highlight_key=y&keyword1=economic">link to 4000 post gold thread >>
I have read the entire thread and it is very interesting and I learned what my mind could absorb but these guys are way over my head. >>
I would caution you, and other readers, that there is a lot of "information" in the thread. Some of it good, some of it half-truths, some of it, I would classify as for entertainment purposes only. Before investing any real money, take the time to do some due diligence, and verify information from reliable sources. Personally, I see many of the gold newsletters more as entertainment, than good information.
That said, those looking for opinions or more reading for entertainment, can find plenty at Kitco Commentary. Though, keep in mind it is Kitco and commentary usually has a 80% to 90% bullish bias, no matter what the metals markets are doing. Also keep in mind in the futures markets, that for every buyer there is a seller. The buyer thinks prices are going higher, the seller thinks they are going lower. If someone is reading something on a public board, or a newsletter, odds are that it is well known. There are very few secrets. As someone else bluntly puts it, "that information is in the current price."
Kitco Commentary link
<< <i>I have a good deal of money in gold nuggets >>
AMEN GoldenEye;
Quarter ounce & up Gold nuggets are rarer than most people realize !!
<< <i>I have a good deal of money in gold nuggets >>
I hear Russ collects Butt Nuggets, does that count?
so what is the best buy at the mint"
If gold doesn't run off too fast (it might already be too late), you might be able to snag a few 63 saints on Heritage (except for the nose bleeds, the common ones pretty much sell for about 10% over melt plus the buyers fee). The lib halfs are there too but if you can pony up for the MS doubles, it's better. You can go get unc buffs for bullion plus a small premium over melt from kitco but the shipping kills you...better to find them alive at a coin shop and still in the mint celophane (wrapped). The trade off is do you want to pay a higher numismatic premium for nicer libs/saints or do you want to be in for mostly bullion (buffs) with little numismatic premium...we're all different.
The thing about hunting gold for us little guys is that you do it when gold is quiet and the spot is stagnant, particularly on a dip (like the last three months or so) when nobody is interested. Once the metal cycles up, you should just hold your accumulation until it becomes high enough for you to make what you want. So, accumulate when it is low or flat, then go to trading some in at a high and then buying back in later at a dip. That's kind of a good strategy for increasing your holdings over time ( a few years). Suprisingly enough, you can actually amass a fair stash with minisculine risk...the discipline is PATIENCE, kind of like a predator that only needs to eat once every month or so and can wait for the right time and place to get what you need.
If you will study the historic gold on Kitco for the last 6-8 years and overlay that on the PCGS CU 3000 for generic gold, you will get a feel for ebb and flow of the gold coin market. Remember...never run into a burning fire.
Hope this helps.
Coin ON!
but, they can help us to teach history.
``https://ebay.us/m/KxolR5
AJ
PCGS Registries
Box of 20
SeaEagleCoins: 11/14/54-4/5/12. Miss you Larry!
To temper some of the gold bulls on those newsletter try reading
Sol Pohla, Cliff Droke, Steve Saville, Richard Russell, Chris Laird, and others. They often go bearish against gold when called for. Peter Grandich and Frank Barbara (while generally bullish) have also bucked the bull trend when he sees trouble. Then there are Kitco "favorites" like David Vaughn and others who I've never seen go anti-gold. When those first group of guys are calling for caution, watch out. When they all go bullish, that's a great sign.
roadrunner