According to a panel of experts on our Financial Report (CJOH News)All agreed gold will hit 7K+ before end of 2027, then went on with 10K prediction 2028. This would be detrimental for us coin collectors Lets pray they are wrong
*poof* (That was my dream of ever owning a $10 gold Indian eagle, unless of course, I happen to metal detect one.) Suddenly, a Phoenician Shekel (Shekel of Tyre) doesn't seem quite so expensive.
I am glad that I never consigned my modern (60s/70s) Proof gold coin sets to Heritage some years ago. All my sets, ie: 1971 Iran, 2500th Commerative 4 piece gold, 5 silver 3 oz 1969 Uganda Pope Paul VI visit Kampala 4 gold, 6 silver 8 oz 1969 Chad 5 piece 6 oz 1969 Biafra 5 piece 6 oz 1971 Bahamas 4 piece 3 oz 1974-79 Conservation series 24 AV 24 oz 1974,75,76 FM gold 8 oz Probably all added up 80 oz gold, now with gold going to 10K I will keep em.This year, concentrate on smaller gold coins, that have numismatic value more then the gold. I just picked this coin up from German auction "unsold" list Phokaia EL Myshemihekte struck 670-625BC
I have been buying a little Gold bullion each year ever since I was a kid being told it was illegal to own gold in the US. I have accumulated a bit over the years, and now am retired. There is an underlying threat of US Social Security being significantly cut in 6 or 7 years, as well as our Fiat currency continuing to significantly diminish in value. Central Banks are spooked with Fiat, pouring a 1000 tons of gold annually into their coffers. The Global South Economies, having a significant portion of the World’s GDP, as well as over half the World’s population, are working hard to diminish their dependency on the Dollar as well as the Fed Swift system. Interesting to note that Poland’s, a NATO country, Central Bank is buying a lot of gold. Over the last 45 years of my career, I have been to and doing business in several of the “Western World”, as well as several of the now called Global South countries. I feel the lines are not as cut and dried between the two, but I also understand the Global South’s concerns due to the West executing several sanctions since 2022. This “amazingly” coincides with the Central Banks accumulating Gold, as well as slowly / strategically decoupling from the US dollar. China’s culture, and other cultures espouse gold. In my opinion China has accumulated more gold than reported…maybe by far amounts. Curious to see who will truly influence gold bullion markets…and the Western derivative paper vs. hard gold markets in the Global South. Even heard rumors that China wants high prices for Gold as a reserve against Western Fiat… perhaps $20k. But that can be just speculation… Long story short, I look forward to Gold growing in value! This started when I was a kid starting to collect coins in the 60’s, but being told it was against the law to own gold coins… Personally, I am not worried about my Ancient Gold coins becoming too difficult to purchase, there are a lot of Silver and Bronzes available that captures ancient history. I AM glad that, whatever little Gold bullion coins that I have accumulated over the years, are significantly rising in value. And, yeah, I am still accumulating now in anticipation of much higher prices. Just some thoughts…
That Law that US citizens could not own GOLD can only be described as, "Dumb & dumber" Any sane Govt. would want their citizens to own a LOT of GOLD, silver. Maybe I could see a BITCOIN ban. That makes sense.
It would make the hobby of collecting GOLD coins only for the elite and super rich glad i bought when i did, thats for sure
High metal prices do cause their own issues. I cannot imagine the current administration will ignore a hard fact that their adversaries are some of the world's top metal producers. The idea for embargo is reduce funds for "special military operation". It's more profitable to transport a barrel of gold vs a barrel of oil. This chaos isn't going to end anytime soon where there's money to be made at the expense of human lives.
Me too, I spent about 1M on my coin coll. since I started, today that coll. is worth 20X what I paid. But I want too add a LOT more They are lovely to look at, in their 6 albums, esp. the 12th century-1700 album. Its like a kid in a candy store.
I consider myself "poor" at least right now, I spent a lot on coins in past three months while "unemployed" and bored. But, what a ride it was..... Now, I can hardly wait for all this snow to melt, so I can do yardwork again. Foto of my house explains my dilemna Last June, NOW>.
Snow for sure kills the lawn care business, maybe snow blowing in the winter would be a good deal for you that wat you could work year round
I honestly think, should the dollar last long enough, that gold won't hit $7000 for a long time. I believe prices may eventually crash and we'll see actually reasonable precious metal prices again. I'd love to see gold at $2000 again, silver at $30, and platinum & palladium at under $1000/oz. The demand will raise so high that prices will likely explode, which will lead to nobody buying and a massive crash.
I think sadly prices will keep escalating. Thing is though, its central banks, nations like China, India, Germany stockpiling it, so we the poor collecting community will suffer. The rare, high quality numismatic stuff will not be affected. Its more the common heavy gold "bullion" types like the AV 50 Pesos Mexico, Peru 100 & 50 Soles, Turkish Ataturk Deluxe/ Standard AV 500/ 250 Kurus. Common type Sovereigns, Iranian 10/ 5/ 2 1/2 Pahlevis...... Ancient, Medieval, Renaissance, Baroque gold zero effect.
