I'd love to see gold tank...

I have bought it at $750, sold for $500, biught at $375, sold for $900, etc. In the last 40-45 years I would guess I am about even. The market is quite underfunded and inventory is not stable, so there will always be swings. Sell on the up and buy on the down. Who has any idea what the peak is this time ?

 

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http://www.limohead.co.uk/images/gold_tank_limousine.jpg

There you go, a gold tank.

 

That's what I said last time it broke $1,000.

 

There's always this notion here that gold will simply just keep on rising. But, like anything else, there is a critical point where it just won't climb past. At some point it will be too high for anyone to buy for any reason, be it a small time collector or a government. Every tangible asset has this breaking point, and when it reaches it, it either stalls and slowly declines or it bursts and rapidly declines destroying a huge percent of it's value at once. There'll be the naysayers, I'm sure. But 10,000 years of market knowhow in world history doesn't lie. Besides, I doubt there's a single person here who doesn't have a limit on what price they'll pay for gold, which proves the case in point.
Guy~

 

You are correct. But gold won't creep up on that price. It will more likely rocket up [in my opinion]. Gold hasn't even become a generally accepted asset class among professional investors yet. Speculators are only into gold in a very small way. And the general public is not on board at all. So far, it's been largely a stealth bull market. I think there is a long way to go.

 

I think you're right, Cloud. I think it has a really long way to go. I don't think anyone knows where that peak is, but I do know it's already too high for me to buy.
Guy~

 

I wonder why a coin collector would say something like "I'd love to see gold tank"??? All I gotta say is you're lucky I'm not a moderator or I'd kick your behind outta here so fast you wouldn't be able to keep your pocket change!!!

 

You have things backwards. Collectors want the price to tank so they can buy more of it because they collect it. Investors want it to rise so they can make a buck. Collectors collect to collect. If prices are too high it makes it hard to buy just to have. I could care less what my coins are worth. Thats not why I collect. Therefore, I want metals to bottom out so I can buy a lot for a little. Simple.
Guy~

 

:hug: well said

 

Indeed.....:smile

 

down goes "forman" i mean gold LOL let it go down then i can buy more!

 

In 1993-1994 ish, I ended us with a few gold pieces (less than 5 oz est). The cost was in the neighborhood of $440 an ounce. I have the receipt someplace around. When gold dropped under $300, I felt a little thankful that I did not pickup more. I sure don't feel that way anymore. Most of the silver I picked up back then, was gifted out as presents. The spot on silver back then was in the low to mid five dollar range. .....Well, you get the idea. Only time will reflect a good buy or sale decision. At the current prices in our current world, I strongly feel silver and gold are both a deal.

Like the original poster, I hope I can stock up some more before the prices go too nuts.

 

I had purchased a few dozen 1oz coins over the years. ML's KR's DE's, etc. It was all that saved me when everything got out of control. No body will loan you money for medical and other catastrophic expenses. Even if you sell at a loss, the value over paper is still there. I too hope to see prices spiral downward so I can recover.

 

:goofer: gold will not go downnnn...so there:hammer: too bad you didn't get more when you could :crying::kewl::smile:hail:

 

Good story you have demonstrated

Glad you had the few dozen. I had already started in my severe problems when I got the gold. The silver was a long time family hobby. I had never seriously considered silver as an alternative investment until recent years. Odd thinking now that I think about it.:bigeyes:

 

I think I heard people say that same exact thing during the bull markets of the 80's. Too bad they were so wrong.
Guy~

 

Sadly, history shows that you are mistaken. As said earlier, the market is underfunded with an unstable inventory, At some point the price reaches a point where the market is flooded with hoarded metal. When that happens, the large investors sell "short" and drive the prices down yet further. Frankly, I truly expect this sooner rather than later. But speculation that the Asian demand when China allows privatization is keeping this from happening. I expect that "demand" will prove overrated, and speculators will force the market the opposite direction in time. IMHO

 

I recall it differently. Most people recognized that the blow-off prices in gold were unsustainable and got out or stood aside, and even the die-hard gold bugs of the time such as Jim Dines and Howard Ruff were advising their readers to bail out.