Precious Metal roller coaster
This site is for collectors not bullion investors. But the price of bullion has an obvious relationship to the value of a collection. Every day I listen to the financial analysts who try to explain why the market place is doing what it is doing. They have so run out of words that they use the same explanation as to why the market went up and why it went down. It is clear that no one has a prayer as to what is going on and why. Gold drops from $1220 to $1060 as the U.S. toilet paper increases in value. National banks are going under as U.S. TARP banks continue to screw the American public. In the real estate business banks have set standards that they will not lend money against land regardless of an individual's credit record or the value of the property vs-a-vis the amount of the requested loan. It is becoming more and more noticeable that our members are seeking advice on PM purchases. The only consensus I can find is to avoid purchases from the U.S. Mint mainly because of the premiums it is charging on bullion coinage in such an up-and-down marketplace. Our member opinions range from a restoration of the upward increase in the price of gold to a return to the $300 level.
Replies to This Discussion
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Permalink Reply by True Money on -
L.G. Buy gold now while you can still afford it! Simple macro-economics are in play when it pertains to gold and silver. The U.S. Mint purchases the gold and silver to mint the coins. The price of gold and silver rise during this time. Once the coins are minted and distributed into the market, the price falls as demand falls due to this new supply easing the demand. This roller coaster is only on an upward slope long term, or at least until The United States settles all debt and becomes profitable.
-True Money!
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Permalink Reply by Bruce Wiseley on -
Not to mention the law of, "Dollar Cost Averaging". Especially with Silver, which is used in every electronic device known and used my Man, this downward trend will, or should, rise again, and soon. Just wait until China calls in our loans, because we can't hardly pay the interest, let alone the the original amount of the debt. Paper backed by paper, backed by even more paper, and there is only one way this can end!!! Buy what and all that you can, and put it in a safe place. Probably within my Childrens' lifetimes, they will be chopping pieces of ASE's to buy food!!!
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Permalink Reply by Steve W on -
LG,
I think that Gold is starting to stabilize after a few weeks of downward float. Actually, I do buy mint products from time to time. I usually buy the Gold proof buffaloes and I bought UHRs. Each time I bought as soon as they were offered and had them certified. They usually come back PF 70. Check out what a proof 70 UHR goes for today. I paid $1189 +50 for certification. If I had the cash I would have bought 50. I believe that their greatest appreciation is a few years in the future so I do not intend to sell soon.
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Permalink Reply by Zyll on -
Yeah well I plan on stealing the statue of liberty and selling it for copper scrap to the Chinese.
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Permalink Reply by Buffalo on -
I still think gold looks good longer term but short term I think we will still see considerable fluctuation. It seems to be moving up or down in response to nearly every piece of news that comes along with little clear direction overall. Largely in response to US dollar valuation relative to the Euro and the economic woes in that region, China's efforts to fight inflation by cooling their economy, and of course continued mixed economic indicators here at home. I would expect to see considerable ups and downs over the next month or so and maybe a more sustained upwards trend in mid to late March. I would have to say though the only thing certain at this point is that few seem to be certain of much of anything.
BTW Tom, still think you should sell to the Mint and cut your shipping expenses.
Steve W said:LG,
I think that Gold is starting to stabilize after a few weeks of downward float. Actually, I do buy mint products from time to time. I usually buy the Gold proof buffaloes and I bought UHRs. Each time I bought as soon as they were offered and had them certified. They usually come back PF 70. Check out what a proof 70 UHR goes for today. I paid $1189 +50 for certification. If I had the cash I would have bought 50. I believe that their greatest appreciation is a few years in the future so I do not intend to sell soon.
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