Good and bad news...............

2manycoins2fewfunds · February 20, 2009 3:09AM

Good news is gold is over $1000

Bad news is the collectors numismatic premium over melt value of coins is likely falling faster than precious metal content is rising.

Julian · February 20, 2009 4:31AM

Generic US gold coins are doing very well and the premium has actually increased in the last week.

doh · February 20, 2009 4:58AM

Why is that good news?

CoinJunkie · February 20, 2009 5:00AM

<< Why is that good news? >>

A lot of people around here own gold?

doh · February 20, 2009 5:08AM

<< A lot of people around here own gold? >>

I just find it funny that some people cheer gold to go higher, higher, higher.... They make a few bucks while the economy tanks and the stock market is in free fall. Talk about not seeing the forest for the trees.

ricko · February 20, 2009 5:46AM

I see the trees and the forest.... and I have gold to sell... my business, no one else's. I understand economics and I tend to my finances... umbrealla statements such as yours are indefensible and in many cases totally unfounded. Cheers, RickO

doh · February 20, 2009 5:48AM

Easy, big guy. I said "some" people Rick.

BobSav · February 20, 2009 6:08AM

I just find it funny that some people cheer gold to go higher, higher, higher.... They make a few bucks while the economy tanks and the stock market is in free fall. Talk about not seeing the forest for the trees. >>

Bob

19Lyds · February 20, 2009 6:18AM

As the softball smacked me right in the middle of the forehead, my Father told me "What goes Up, Must come down!"

golfer72 · February 20, 2009 9:03AM

Gold over $1000 is not good news. I own some but I would rather it go down. This country is in serious trouble. The house of cards is coming down i fear.

jmski52 · February 20, 2009 9:17AM

I just find it funny that some people cheer gold to go higher, higher, higher.... They make a few bucks while the economy tanks and the stock market is in free fall. Talk about not seeing the forest for the trees.

Let's talk about context. On the face of it, higher gold means bad news for the majority of Americans. On the other hand, if I bought gold because I could see that the socialist idiots have decided to run the country into the ground faster than the capitalist idiots were running it into the ground, and I decided that the only thing I could do to protect myself financially from all these idiots was to load up on precious metals, ammo and vegetable seeds, then yeah - I'm going to cheer my head off. No offense if you think that's crass or unseemly. There are no winners when lying, cheating, thieving bankers are protected by lying, cheating, thieving politicians. JMHO.

CertifiedGoldCoins · February 20, 2009 9:24AM

There is nothing wrong with profit. For every dollar gained in the market by someone, someone else must lose a dollar. Those who make no profit can blame only themselves for buying or selling the wrong thing, or doing so at the wrong time.

SeattleSlammer · February 20, 2009 9:26AM

On the other hand, if I bought gold because I could see that the socialist idiots have decided to run the country into the ground faster than the capitalist idiots were running it into the ground, and I decided that the only thing I could do to protect myself financially from all these idiots was to load up on precious metals, ammo and vegetable seeds, then yeah - I'm going to cheer my head off.

jmski52, the thought of you crouched in your bunker with your gold, ammo and vegetable seeds is priceless. Don't forget the toilet paper!

RunnersDad · February 20, 2009 9:51AM

<< I just find it funny that some people cheer gold to go higher, higher, higher.... They make a few bucks while the economy tanks and the stock market is in free fall. Talk about not seeing the forest for the trees.

Let's talk about context. On the face of it, higher gold means bad news for the majority of Americans. On the other hand, if I bought gold because I could see that the socialist idiots have decided to run the country into the ground faster than the capitalist idiots were running it into the ground, and I decided that the only thing I could do to protect myself financially from all these idiots was to load up on precious metals, ammo and vegetable seeds, then yeah - I'm going to cheer my head off. No offense if you think that's crass or unseemly. There are no winners when lying, cheating, thieving bankers are protected by lying, cheating, thieving politicians. JMHO. >>

I in no way find your sentiments offensive. Unfortunately, well I consider myself to be very in touch with the financial and commodity markets, I fall into a small category of people that could forsee the rise in gold, but didn't/don't have the financial resources too invest. I lost my job back in mid too late 2007 when the economy began to falter. I have remained home to take care of my child whom requires constant attention and our financial situation is not very stable.

So, on one hand I am pleased because I was able to assist some of my friends and family in taking in some nice gains on Gold and Silver via either bullion or Etf's. On the other hand, the harder and faster the economy falls, the more difficult it becomes for us to make a mortgage payment, and for me too find a job as I am competing against far more individuals with degrees and advanced degree due to layoffs, for the few jobs that are available.

Maybe I got a little off topic, but it is a double edge sword for sure.

coinkat · February 20, 2009 10:00AM

no comment

silvergoldnut · February 20, 2009 10:01AM

I NEED TO GO TO MY HAPPY PLACE !!!!!!!

Konahead · February 20, 2009 10:40AM

<< I NEED TO GO TO MY HAPPY PLACE !!!!!!!

>>

Can I come with you!

2manycoins2fewfunds · February 20, 2009 11:23AM

Those with insight will see the original statement for just what it was...a mixed blessing.

The same factors driving up precious metal prices are on the whole negative for collectables as a group.

lkenefic · February 20, 2009 2:51PM

<< There is nothing wrong with profit. For every dollar gained in the market by someone, someone else must lose a dollar. >>

Years ago I might have agreed with this statement. On the surface it seems logical, but these are anything but logical times. Last October during the Wall Street meltdown, it was widely reported that over a trillion dollars was "lost" from the market in just one week... was it misplaced? was it stolen? or... was it just not there to begin with?

Bear · February 20, 2009 2:53PM

Just when everyone gets in on a SURE THING,

it us usually no longer a sure thing.

Elcontador · February 20, 2009 5:15PM

The WSJ had an article a week or so ago saying that the actual industrial demand for gold has dropped by 1/3 in the last year. People buying gold are making up the difference. Sound familiar? It sure does to me.

PerryHall · February 20, 2009 7:19PM

<< I just find it funny that some people cheer gold to go higher, higher, higher.... They make a few bucks while the economy tanks and the stock market is in free fall. Talk about not seeing the forest for the trees.

Let's talk about context. On the face of it, higher gold means bad news for the majority of Americans. On the other hand, if I bought gold because I could see that the socialist idiots have decided to run the country into the ground faster than the capitalist idiots were running it into the ground, and I decided that the only thing I could do to protect myself financially from all these idiots was to load up on precious metals, ammo and vegetable seeds, then yeah - I'm going to cheer my head off. No offense if you think that's crass or unseemly. There are no winners when lying, cheating, thieving bankers are protected by lying, cheating, thieving politicians. JMHO. >>

Great rant and right on target.

frostbyte · February 20, 2009 10:51PM

I see gold possibly as a way to make profit, but that's only if you had cash under your mattress vs gold under it. If you watch the economy you will hopefully be able to chose which you want. I have both. I have about $15k in gold and about the same in cash. Sometimes I'd like to have more in gold, but I bought 1/2 at $650 and the rest at $750. I'd rather not add to it at the top of the dollar like now. If it drops I'll add. I'm not doing it to make profit, but to protect my assets. Is it profit if the dollar tanks and a commodity happens to go up then so be it. Even if you do it for profit, who cares. If you can't control what happens, you can at least try and take advantage of it. I owned stock in Apple. Did I really do anything to help them gain? Did I care? I just saw an opportunity and did it. Then when I saw a chance for my money to do better somewhere else, I sold it. Now I own it again and hope my money will be fine there. Diversification. All in one area might be good, but might be terrible. I lost 30% to 40% in my 401k and that sucks, but my money is back where it was 2 years ago. So all the gains I thought I had 2 years ago are no longer there. EVERYTHING I put in is still there and more. For that I'm very thankful. Same goes with the housing market. We bought our house 2 years ago also and it appraised for $50k more in 2 years, now it's down $25k. We're still up at the moment so I'm still fine and greatful. I think I'm going to sell and rent though since I'm not tied down to my house at all. I'd prefer something else personally and I think it's a way to protect my assets so I likely will. If you don't care about all this, then you can just hope your decisions work out. I spend lots of my time trying to keep up on this stuff so I'm glad it's semi working out. I also just like coin collecting so it's a double advantage to have fun with my investments. I love proof bullion!

notwilight · February 20, 2009 10:56PM

<< 

<< A lot of people around here own gold? >>

I just find it funny that some people cheer gold to go higher, higher, higher.... They make a few bucks while the economy tanks and the stock market is in free fall. Talk about not seeing the forest for the trees. >>

We have no control over these things. But we were able to prepare for them. Those of us that are prepared are doing ok. --Jerry

7over8 · February 20, 2009 11:00PM

thats OK, let the premiums melt away.....

i'll be happy when gold crosses $2000 even without a premium.....

the point is- prepare for worse. the economy isnt getting any better. if you're still in the equity markets expecting a comeback, hope you're young enough to wait 20 years.

jmski52 · February 20, 2009 11:12PM

frostbyte, I used to think about investing the way that you do. For the record, I have an MBA in finance - so I've studied asset valuation, etc. I didn't lose 30%-40% in my retirement funds, because I got out of everything last year after Bear Stearns. That was a sign. You can always *hope* that the market will turn around and that you will recover those losses. It's not going to happen, at least not any time soon.

The more I read about what the bankers have managed to do with derivatives, and considering the shear volume of unrealized losses that are still hanging out there, there is simply nothing that governments can do to "fix" it. They might be able to stall things, but their stalling tactics are making it worse.

I remember studying the Black Shoals asset pricing model about 25 years ago. Just the other day, I read that the model works except if there is a "black swan event" - something that *almost never* occurs. They are suggesting that this market meltdown and the derivatives problem is a "black swan event."

That's pure BS. This problem was manufactured by the greedy banks, who are still being protected by the corrupt politicians. There is no pricing model that takes into account greedy banks and corrupt politicians. If you continue to believe that the deck isn't stacked against you, you will continue to get whacked. jmho.

Diversification USED to be a good idea, especially if the market was volatile. Holding assets having a negative correlation with each other makes sense sometimes. Holding stocks with low or high betas makes sense at times. However, when the deck is stacked against you in an obvious way, why would you play?

That is still the case now, in my opinion. Being trapped in a retirement plan for fear of a 10% penalty if withdrawn - that is exactly how the government controls people's retirement funds - and at the same time, they are running amok with spending policies that will devalue paper assets by 10% to 15% per year, or even 40% in one fell swoop.

Understand that. The government is not here to help you.

AnkurJ · February 20, 2009 11:20PM

<< 

<< I just find it funny that some people cheer gold to go higher, higher, higher.... They make a few bucks while the economy tanks and the stock market is in free fall. Talk about not seeing the forest for the trees.

Let's talk about context. On the face of it, higher gold means bad news for the majority of Americans. On the other hand, if I bought gold because I could see that the socialist idiots have decided to run the country into the ground faster than the capitalist idiots were running it into the ground, and I decided that the only thing I could do to protect myself financially from all these idiots was to load up on precious metals, ammo and vegetable seeds, then yeah - I'm going to cheer my head off. No offense if you think that's crass or unseemly. There are no winners when lying, cheating, thieving bankers are protected by lying, cheating, thieving politicians. JMHO. >>

Great rant and right on target.

>>

stevek · February 21, 2009 1:14AM

<< I just find it funny that some people cheer gold to go higher, higher, higher.... They make a few bucks while the economy tanks and the stock market is in free fall. Talk about not seeing the forest for the trees.

Let's talk about context. On the face of it, higher gold means bad news for the majority of Americans. On the other hand, if I bought gold because I could see that the socialist idiots have decided to run the country into the ground faster than the capitalist idiots were running it into the ground, and I decided that the only thing I could do to protect myself financially from all these idiots was to load up on precious metals, ammo and vegetable seeds, then yeah - I'm going to cheer my head off. No offense if you think that's crass or unseemly. There are no winners when lying, cheating, thieving bankers are protected by lying, cheating, thieving politicians. JMHO. >>

<<< politicians >>>

But "we" keep voting them in don't we? Those running for office who try to talk straight and tell the truth don't seem to get elected, so we get what we deserve when we vote for glib politicians.

Good and bad news...............

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