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Gold Coin Investment - First $100.00 gold coin
Went on sale yesterday at noon. http://catalog.usmint.gov/american-liberty-2015-high-relief-gold-coin-UH8.html?cm_sp=HPA1-_-high_relief_gold_coin_drop-_-073015
By 6 Oclock the mint was showing not available. Reported that they had sold 35K of the 50K minted. Guessing they have to delay to allow for shipping times, set that pref. on the site and show as back ordered.
Wondering if anyone considers this a good investment for the future, Kids, etc. Pricey ! Seems like a good thing to do if you send it off to be graded, get returned mint package. Was reading about it on a coin chat room. Those guys are serious about their coins.
By 6 Oclock the mint was showing not available. Reported that they had sold 35K of the 50K minted. Guessing they have to delay to allow for shipping times, set that pref. on the site and show as back ordered.
Wondering if anyone considers this a good investment for the future, Kids, etc. Pricey ! Seems like a good thing to do if you send it off to be graded, get returned mint package. Was reading about it on a coin chat room. Those guys are serious about their coins.
Replies
How so? If it's legit gold and priced according to market value? I wouldn't buy them, but that's just me
What's the reason behind the gold prices crashing and where is it expected to lead in the coming few months
The price of gold is declining because it was overvalued due to rampant speculation.
The price of gold has gone up by a factor of six in the last fifteen years. That's absolutely insane. There hasn't been any decline in the supply of gold, or any increased use of gold in any real sense to justify that increase. The price went up because demand went up, and demand went up because so many people were buying and stockpiling gold, assuming that the price would keep going up. But that can't go on forever. Eventually, the rate of gold-buying can't be sustained, people trying to sell can't find buyers, so the price goes down. When that starts to happen, everyone who put all their money into gold realizes that, if prices keep going down they can lose everything, which causes them to sell, which causes the price to drop even faster.
When people buy something because they think other people are going to want to buy it from them, instead of on any actual usefulness, price rises will always be unsustainable. What's happening with gold is the very definition of a price bubble, and now it's popping.
Buy low! Sell high! Buy buy buy!
Because price is $1500 plus shipping. Value is $1180 at current gold price.
This. If the price keeps going down (which I think it will) it would be cheaper to just buy it from a coin shop in a couple of months.
I will say it's a beautiful coin though.
The real value is the Gold price plus the $ value. The Mint has to make a profit. This same coin had sold on ebay last night 6 of 6 as a pre order from NGC grading company showing it as a MS-70. Price was $1995.00 They all sold. Coins, especially Gold coins when bought at the right time are a good investment. All about the timing and how long you are willing to hold it.
I do agree with Sucker Buys when referring to many Ebay sellers, or the TV commercials that make a coin look more valuable then they really are.
Remember 35,000 of these sold in 6 hours yesterday. I did find a nice exchange site a couple days ago that allows one to buy one or sell one based on the price of gold, plus fee. More or less allows one to bet on the future price.
Read the big push from Ron Paul and his crony Porter Stansberry. Stansberry may be a little nutz, but he has hit on a couple future predictions (his views should fall right in line with the southern republican. Stating that the dollars value could collapse and backing it up with the National debt, and Bond problems ahead could trigger a problem for sure. It would be 5 - 7 years down the road. It is possible... For now and the next year or two, Gold should stay where it is... I am not convinced to buy any gold or even this coin as of yet...
Just want to hear opinions on it...
Yikes. That's steep
Gold coins can be bought from many sources at 10% more than the current value on the commodity market.
Nice thing about gold coins is that when you sell them you don't pay income tax.
Gold is and always will be a hedge against inflation.
Stock certificates are only paper and you can lose your entire investment overnight.
Jim
The dollar is very strong, and when the Fed begins to tighten, interest rates will rise and the dollar will go even higher. Bearish for gold.
Demand for physical gold is weak, and will get weaker with the slowing of the Chinese economy. Bearish for gold.
The whole national debt, "fiat money", bond market crash bugaboos have been cited by the gold nuts for years, and they've been wrong.
I wouldn't be surprised to see gold as low as $800.
But if you held a gun to my head and forced me to go long, I'd by the SPDR Gold Shares ETF (symbol GLD).
It mimics the performance of gold bullion, you don't have to worry about storing it, and there's only a 0.4% management fee.
I was told once we use it to deal with foreign nations. He said a guy from whatever nation goes somewhere, sits in a little room and signs off on the amount of gold, and they move the gold to that nations "storage". And off the guy goes. Pretty vague.
But I thought we just print more casha nd throw it there way?
If it were 1950 - 1995 or even up to 2000 I would agree. Things are different now. 28Trillion in debt. Took a couple hundred years to get to 4T and 7 more years to get 6x more. Plus we now have short selling and manipulation of stocks. The fact that they did not start to raise the rates is a big flag, we are well into the recovery, yet the banks continue to get loans at 1% and put that same money into a 3% return from the very gov't they borrow it from. We have many billionaires who control everything now. It won't hurt them a bit to watch the economy collapse. They help create and control both the 2001 bubble and the 2008 housing.
You are correct in the Gold pumpers are out there. They never go away and began to really pump it when at 1800.00 an oz... I would love to see 800.00. I just don't know considering we are running on what is essentially a gov't funded economy now. And that it has been near this price for a couple years now. The economy has to get better for it to go down. Starting a portfolio of gold, even the spot, now is a start and buy down too 800.00 if it happens. Catching the very bottom or top of anything is difficult.
These coins as an investment are more for long term... Maybe for the kids...
I think this is a decent site to buy like you wrote about.... http://www.apmex.com/product/84882/2015-1-oz-gold-american-eagle-bu?utm_source=criteo&utm_medium=retargeting&utm_campaign=1x1%20default&dclid=2050296008-3402142-8702784-117672497-290552339-62605233
A small % over value, maybe sit on for years then dump...
Debt is only $18 trillion. Where do you get $28 trillion?
Former Mini Mart Magnate
I am just here for my amusement.
Jim