Anyone bought gold coins, silver coins, etc?
03-08-2008, 12:30 AM
#1
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I'm looking to buy a decent amount of gold and silver coins as an investment, but also as a currency that could easily be spent, meaning something like krugerrands that i could buy a quarter ounce and a silver too. I'm just wondering if anyone has ever bought a reasonable mix of such. I've done some research about the only reliable source i can find is foreign banks seem to trade it over the counter.
03-08-2008, 06:59 AM
#2
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I have often wished I had an investment in gold. Unfortunately, I do not, and neither do I have any useful information about the acquisition of said gold. Mostly, I just wanted to post in your thread to provide for the amusement of others. They say those who can laugh are truly rich beyond measure. 
03-08-2008, 10:59 AM
#3
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HA HA, thats pretty funny and yet i can't buy a damn thing with it.
I'm kinda looking at this guy, http://www.tulving.com
I'm not looking at buying collector coins or any of that ****, i need something like krugerrands that are recognized as currency pretty much anywhere, so going to a local dealer would be a waste of time, not to mention I dont really want to deal with some guy locally in this kind of quantity. Prolly end up rubbing me out or something.
I'm kinda looking at this guy, http://www.tulving.com
I'm not looking at buying collector coins or any of that ****, i need something like krugerrands that are recognized as currency pretty much anywhere, so going to a local dealer would be a waste of time, not to mention I dont really want to deal with some guy locally in this kind of quantity. Prolly end up rubbing me out or something.
03-08-2008, 01:34 PM
#6
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How set is the price of gold in the market compared with currency in general?
That was the first time I actually watched LA ink just another dumb reality show but with a topic that im actually interested in.
That was the first time I actually watched LA ink just another dumb reality show but with a topic that im actually interested in.
03-08-2008, 02:49 PM
#7
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here's an idea of gold prices over the 30 year term http://goldprice.org/30-year-gold-price-history.html
Keep in mind recent prices, at least since 2001 have a lot to do with the fact that the us dollar has devalued 60% since 2001. Gold is mostly constant, let's look at this way; in most cases you can buy more with an ounce of gold now, then you could 30 years ago, but never less, ie in regards to inflation and deflation although the price relative to the dollar changes in reality it differs very little in value.
Keep in mind recent prices, at least since 2001 have a lot to do with the fact that the us dollar has devalued 60% since 2001. Gold is mostly constant, let's look at this way; in most cases you can buy more with an ounce of gold now, then you could 30 years ago, but never less, ie in regards to inflation and deflation although the price relative to the dollar changes in reality it differs very little in value.
03-10-2008, 10:36 AM
#8
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What advantage would Krugerrands have over US Gold Eagles? I believe they can be bought directly from the US mint for a fixed markup of just a few percent. Seems any dealer of Krugerrands is going to jack the price a lot more than that. I've seen the 1-oz. Krugerrands for $1700.
03-10-2008, 12:30 PM
#9
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This is what my friend the savvy (and successful) investor has to say about it:
"What I've heard is that many think it can go to $1200-$1500/oz given the current trends in the market and the dollar. I believe the best ways to play the commodity of gold is to buy an ETF that tracks gold or a basket of gold producers. To buy the actual commodity you always have to pay "middlemen" fees for the exchange or to store the asset which eat into any returns.
I can remember when gold and silver were very "hot" back in the 1970's. If the dollar begins to strengthen, inflation woes are quelled, the economy turns around or a host of other factors hit, I believe gold will fall hard and fast as it has in the past. Until then there is probably some money to be made. My final thought would be to make sure you have an exit strategy and to follow it."
Sounds about right to me. I think there was a lot of money to be made in gold, but most of that has already been made. Lots of downside risk, maybe 20% or 30% to the upside. Jumping on the bandwagon this late is probably a bad idea, IMHO.
"What I've heard is that many think it can go to $1200-$1500/oz given the current trends in the market and the dollar. I believe the best ways to play the commodity of gold is to buy an ETF that tracks gold or a basket of gold producers. To buy the actual commodity you always have to pay "middlemen" fees for the exchange or to store the asset which eat into any returns.
I can remember when gold and silver were very "hot" back in the 1970's. If the dollar begins to strengthen, inflation woes are quelled, the economy turns around or a host of other factors hit, I believe gold will fall hard and fast as it has in the past. Until then there is probably some money to be made. My final thought would be to make sure you have an exit strategy and to follow it."
Sounds about right to me. I think there was a lot of money to be made in gold, but most of that has already been made. Lots of downside risk, maybe 20% or 30% to the upside. Jumping on the bandwagon this late is probably a bad idea, IMHO.
03-10-2008, 01:23 PM
#10
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i can get krugerrands for $2.85 over spot, that's 2.85 plus current gold price, gold eagles are about 35 over spot. The advantage is really price, if you pay 1700 for any coin it better bet a collector coin, not a krug, otherwise you got fucked. I'm not buying for collecting. I'm also not all that sure i want the us gov't involved in my gold purchase at all.... the less they know the better. Also the mint doesn't actually have anything for sale right now, they keep saying the end of the month and they've said that for the last 6 months. I am going to buy krugs 1 oz and 1/10 oz, silver and some suisse 1 oz bars.
This is the guy i plan on buying them from http://www.tulving.com
I am moving 33% to 50% of my investments into precious metals, maybe more if the climate here warrants it.
This is the guy i plan on buying them from http://www.tulving.com
I am moving 33% to 50% of my investments into precious metals, maybe more if the climate here warrants it.