The gold is going down. I sell and buy the gold coins last 15 years, but this is the first time the gold fell more than $100 in some days. How do you explain that ? Will gold fall more ? Regards, Leonid edited
My best guess is because the dollar got a bump with Osama's death. And, more than likely, silver's decline (for the moment) because of increased marginal rates is probably scaring some out of gold as well. I wouldn't worry, however. The fundamentals driving gold and silvers ascent haven't changed.
Glad gold is going down... I sure hope gold is going down. I hope WAY down, along with all the other "precious" metals. ...I have an Axe to grind on this topic: I say this because the last so-called "Coin Show" I attended had sellers who loaded up their display cases with NOTHING BUT gold and silver EVERYTHING (sometimes not even coins, for crying out loud!). I don't know if you all have been noticing this, but "Coin Shows" seem to be nothing more than "metals shows" nowadays. I'm a coin collector. I could care less about the white and yellow discs, and I'll only go after them if it fills out a COIN collection that I'm working on. Personally, it kind of ticks me off, because the sellers leave their "non-precious metal" coins at home (HELLO! It's a COIN show!!!) because they're soooo enamoured with making a killing off of their gold and silver ingots and tokens. The attendees are almost as bad: They walk around in desperation, with words like "dollar collapse" on their lips, drooling over the display cases. Now I'm sure plenty of you are into gold and silver, for many reasons, and I'm not second-guessing the wisdom of investing in them. SO: I'm not AGAINST gold and silver, it just gets my gander up when I go to a 80+ table coin show (a coin show that I was always able to enjoy in years past) and I can't find a single decent 1931-S or 1914-D Lincoln cent or a single Korean or Japanese coin because the sellers "left all of that stuff at home" (a remark I heard quite a bit). I mean, really? Now you know how I really feel about this topic, excuse me while I go take a Tylenol.
I am not a dealer, but I understand the economics they were working under. If the show was like most, they had to purchase the table space, and were limited to the amount they could bring. The larger the amount of merchandise, the more difficult to secure and protect if you are away from home. Probably much of their gold and silver bulk was bought a long time ago, or they have bought too much, and wish to move it, and the time to do so is now for them. If you bought a gold 1 oz at 500, as many of us have, sell it for a profit of approx. $1000 after a few years. In the same time a 1914-D , say PGGS AU 50, has also appreciated, but not as much, and there will be many fewer wanting it, than gold or silver , AT THIS TIME. Most dealers started as collectors, and many still are, but they must bring the most lucrative deals to the show that they can sell according to the demand. It wasn't too many years ago, that collector coins ruled most shows with "bullion" traded on the "teletype", but changes have occurred, and ebay has brought in many novices. Everyday even my local TV has spots for "Gold Silver Deals", and internet newsletters and pundits have convinced and are still convincing many, that PM will be 5x -10x times more in the near future. I have seen posts by dealers who recently before the silver crash bought large amounts of silver, hoping to flip, and are down about $10 an ounce. Pity the poor dealers. Jim
Gold will not rise every day :headbang:. But will explode eventually:just-sign:. Do some research on everything gold is used for. You would be amazed at some of the stuff they use it for. They dont call it a precious metal for no reason. :goofer:
Gold has a tendency to go up and down but the downs are generally not as great as the ups... which has shown over the last twenty years that it has been returning an average interest rate of approximately 15% per annum overall(my working out.. not official)
In some internet discussion groups I participate in, some people are firmly convinced that gold is nothing more than a "shiny rock" that "has no value because it has no industrial uses" :headbang:
Well I know you have to feel better after your little mini-rant. I agree with you! But some of us dealers do try hard not to be merely a PM firm (although those trades are welcomed and unavoidable as well). I just bought a nice collection that had been put away since the 1960s, a single-collector stash, the kind you don't see often any more. It includes a 1909-S VDB, 1914-D, 1909-S, 1931-S cents, complete collections of WL halves except for the three 1921s, complete Mercury dimes (the 1916-D was bogus, unfortunately, which I caught before making an offer). Don't want to turn this into an ad but I do intend to bring "Collector Coins" to my next shows! Good luck and keep up the search.
I guess your internet groups don't realise how important gold is in circuit boards.. without which your internet would not work.... I also guess if you google ' gold uses' you might come up with an answer for your groups..... Best wishes, Mike.
"Glad gold is going down... I sure hope gold is going down. I hope WAY down, along with all the other "precious" metals. ...I have an Axe to grind on this topic: I say this because the last so-called "Coin Show" I attended had sellers who loaded up their display cases with NOTHING BUT gold and silver EVERYTHING (sometimes not even coins, for crying out loud!). I don't know if you all have been noticing this, but "Coin Shows" seem to be nothing more than "metals shows" nowadays. I'm a coin collector. I could care less about the white and yellow discs, and I'll only go after them if it fills out a COIN collection that I'm working on. Personally, it kind of ticks me off, because the sellers leave their "non-precious metal" coins at home (HELLO! It's a COIN show!!!) because they're soooo enamoured with making a killing off of their gold and silver ingots and tokens. The attendees are almost as bad: They walk around in desperation, with words like "dollar collapse" on their lips, drooling over the display cases. Now I'm sure plenty of you are into gold and silver, for many reasons, and I'm not second-guessing the wisdom of investing in them. SO: I'm not AGAINST gold and silver, it just gets my gander up when I go to a 80+ table coin show (a coin show that I was always able to enjoy in years past) and I can't find a single decent 1931-S or 1914-D Lincoln cent or a single Korean or Japanese coin because the sellers "left all of that stuff at home" (a remark I heard quite a bit). I mean, really? Now you know how I really feel about this topic, excuse me while I go take a Tylenol. Read more: http://www.cointalk.com/t173340/#ixzz1MQ6E3HIO" The dealers are going to sell inventory which brings the biggest profit. They are in business to make a living. Gold and silver are hot right now, so they're going to sell it. That's the way the market works. You can still find rare coins, you just have to look a little harder. In fact some might argue that right now is a great time to buy key dates. If you know what to look for, there are some great deals to be had.
I think some of them are so fervent in their belief that gold is a "barbarous relic" that they can never be convinced that gold has any use, regardless of the facts.
