seems the gold bugs out there are in trouble.All your modern coins worth less now lets hope none on here just bought a shed load of eagles.
You had to sort of expect it when the spot price climbed upwards of 450 a few months back. Too many people probably reacted at that point. it does look dismal today, though. It will go the other way next week.
It is all in the perception. Low prices mean BUY BUY BUY. Or in the case of this dealer, buy and sell no matter what spot prices do. Buy right, and sell right, it all equals out in the end. Spot prices are mainly for large investments.
Yeah, the objective is to buy low, sell high, right?? Unless you plan to liquidate your gold tomorrow, those who like gold should take this as an opportunity to BUY, BUY, BUY!!!! And, by the way, I doubt if the value of Brasher Doubloons will decline as a result of lower gold prices.
well it depends what you buy your coins for.Personally i prefer silver coinage which i think has a greater chance of rising in price. however i also have a lot of 100 year old sovereigns which are strangly only weorth little over the spot price of gold except for some rare dates and older ones. seems strange have 1880/1890/1900 coins that are in uncirculated conditon some mint state and there only worth about 5-10% over spot price. however i believe this coin just cant drop from here.I hope not becuase im cashing everything in in 3 years to buy some land to build a house
It's not strange really - it's common for just about all world gold coinage. For somebody like me - that's the beauty of it The reason for it is the lack of demand - or collectors.
Downward trends means things are on sale, that's all. Buy at every market turn, up or down, and you'll average out nicely. Personally I like to see the market move...up or down, either way makes the phone and doorbell ring. Weeks of flat market = a very irritable Nick haha.
I agree with the comment that unless one is moving large sums of gold, spotting the price isn't worth the time or emotion. With that said, I am a low investor at this point of time and even I know that summer time is usually a time of the year where the stock market and precious metals either hardly move up or drop. This is a time of the year where people are spending money on vacations, homes, or cashing in for children's college expensives. So there is no reason to sweat a drop. Now I have some gold for a hobby which brings me pleasure while being prepared for a disaster if one should ever come. Lets face it, gold goes up the most during times of uncertainity. Just graph the stock drop to the gold hop and I would not be surprised it you see one arrow going up and the other down. Another major terrorist strike in this country and there will be another big spike with gold and a crashing of stocks by a few thousand points at least on the dow average. So I agree with those who say invest in gold and if I may add buy a gun or upgrade and make sure you vote for the person you feel will make this country safer and keep it stable on all levels of government. Remember Democracy is based upon the educated voter, the problem we have in Florida is to many people didn't take their time voting last time and made mistakes. If they didn't take their time to read the directions or with casting their vote do you think they really knew the issues or just the slogans and name calling? Personally, I'm an independent.
The price of gold has relatively little to do with the price of, say, a PCGS/NGC MS-63 St. Gaudens. Most numismatic gold now has a considerable premium over the spot price of gold, anyway. Still it's unusual to see gold and the stock market moving together as much as it has lately.
