Looking to invest in Gold

FYI here is a link to a 20 year chart of gold prices. http://www.cstcharts.com/cgi-bin/chartge.pl?gc.m If we only new now what we didn't know then about 2001,that would have been a good time too buy. Right now gold is setting new highs. But who knows when it may stop drop and roll?
It may still have some climbing too do but how much higher can it really go? It amazes me every day and I cant believe it has gone this far. Gold speculation is a risky.
But nothing makes me happier than A nice Gold coin. Just my 2 cents
Joe

 

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Excellent graph. I started my gold collecting in 1991 and bought 80% of it during the 90's at around $350-380 an ounce. I have scaled back due to the high prices but couldn't resist the 20th anniversary sets. I had to stock up on that win/win chance of a lifetime but I do long for the days of the $350 ounce gold. The dollar went much further ...lol.

If money is of little concern ...buy 2 of everything

 

prices sure did skyrocket in the last 5 years...wow.

 

buying gold.

Somebody in this thread said you can find St. Gauden $20 pieces for close to the gold spot, aka "melt' price. I would say go that route. its your preference. BuI I personally like the idea of buying a gold coin that was minted for circulation. I prefer vintage gold business-strike coins over bullion coins. you want 19thc stuff, you can buy a lot of 19thc liberty-head gold pieces for close to melt. Gold is an interesting investment, but its a risky game that doesnt always make sense. Stick mainly to the stock market. Stick to putting your money into equity investments where you own a piece of something that employs people and produces a good or service!!!

 

:hug:

 

Everytime I read this thread I keep hearing this tune in my head :whistle:
something about dust ??????

 

I dont get it...not sure if I want to.

 

Buy the platinum 10th anniversary set that is coming out this summer. It will be pricey and only the super elite will be able to afford it but this could be the last year for platinum coins in our lifetime.

 

You think they're going to stop making the platinum eagles?

 

Hello Drusus, and another Big Hello! to everyone else. I hope everyone is well and in good spirits. Now for a little advise from a fellow who has learned a few lessons the hardest way possible......by my bank account....and being fooled by "replicas" and "counterfeits". Yes! there is a lot of good gold out there, but my friends be advised that there is also alot of "bad gold" out there also. Drusus...did you know that forgeries exist of most U.S. gold coins dated between 1870 and 1933? As well as all issues of the gold dollar and the three-dollar gold piece. Most are very well made for they were intended to pass the scrutiny of collectors. Very few gold coins of earlier dates have been counterfeited, but false 1799 ten-dollar gold pieces and the 1811 five-dollar gold pieces have been made. Since coin collecting has gained in popularity and rare coin prices have risen "numismatic" counterfeits have become more common and believe it or not most of these coins are die-struck gold coin counterfeits that have been mass produced overseas since 1950. Myself and a few of my associates bought a large Estate Lot of coins at an auction a few years back and in the lot were Indian Head Quarter Eagles, Three Dollar gold pieces Indian Princess Head, Liberty Head Quarter Eagles, Liberty Head Half Eagles, Indian Head Half Eagles, Indian Head Eagles, and last but surely not least some Liberty Head Double Eagles (both types) without motto on the reverse and motto above Eagle. Needless to say along with the silver coins (some rare series and dates and some common dates) our little group invested a sizeable amount of funds into this venture. One of my associates in this venture was a member of several coin associations thus qualified to have coins graded by NGC so we contacted them got the proper paper-work and instructions on how to package/ship/and insure our investment and sent all I repeat "ALL" of the coins for grading and authentication of the coins, just positive our profit margain after this move was going to be the "skies the limit" scale. And boy were we paralized beyond words when half (1/2) of the coins came back in what is refered to as a "body bag" with the statement "coins or replicas/counterfeits" are un-gradeable!!!!!!!!. Yep' ......it was a sicking experience that made me physically ill and cost me several months of much need sleep. We all lost "Thousands of dollars" with no avenue to turn to but to ...well...suck it up!!!. Never, ever, ever, ever buy any gold coin unless it is slabbed and certified authentic and then I'd personally only buy from NGC or PCGS, and thats because these two aren't questioned about their grading at are sold at the same price bought or either a premium in some cases. Gold is great.........Bad gold is something you don't want to experience at any level of collecting. If you want to talk to some folks here your hook-up. These are the "Big Boys" contact Monaco Financial www.zoomcoin.com. 1-888-751-1933 or 949-752- 1933 extension 4538. The Senior Account Representative you should reach will be Brad Moseley. Address is 4900 Birch Street, Newport Beach, California. 92660. These boys are gold merchents of the first order and if you've got the bucks they can hook you up and promise you a "Demanded Premium" on your investment starting at around 15/20% and up..up...up. Call these guys and listen to what they have to say and educate yourself a little on the gold market. Be careful when buying gold, research/study/read every article and reference you can and then do it again before you start investing in gold. Well, I've ran my mouth enough.............."An ounce of prevention is worth more than a pound of cure" I Know!!! Michael

 

wow...thanks...real information and advice Much appreciated. I was given a link to goldismoney forum and have been discussing this there as well...some smart people all advice no mocking or insults. I am torn between waiting for the price to drop (if it is going to) or just going ahead with it.

Do you think there is a real danger buying coin from a place like apmex? Most people I talk to seem to think they are real solid.

BTW aiden, they are out of fractionals but the goldismoney people say they get more here and there, they just sell out fast but to check everyday.

I will call monaco financial...I HAVE been reading up on gold but I figure I should mine every source of possible info, I certainly wouldnt take any steps until I am more sure footed...that is why this thread is old and I still dont have gold I have set aside some money just for this (aside from my usual investments) and I dont want to throw my money away.

 

Hello Drusus, I'm not familiar with apmex, but as with any business you, me and everyone else that was thinking about investing monies with any given business you will want to do a background check on them. Call the Bureau of Consumer Affairs and ask for information on any business and if they can't supply you with the information you require ask them for assistance in pointing you in the direction/people who can help. Your banker is a treasure chest of influence with financial instituations and can find out information that some stock brokers can't dig up. There are two more resources you can go to and thats your attorney (if you have one that you deal with regularly) and the other is your tax accountant. All of these people are proberly very good at what they do.........and most of them love doing it. I have an extensive port-folio and 5 years ago I deversified it and now I'm vested around 30% plus in gold and coins. Did you know that coins are tax defiered? And if one day say for example your family would have to put you in a nursing home, you wouldn't have to inventory your coins/gold in an summary of your net worth that some nursing facilities request. Keep your business private to yourself and spouce and don't get into conversations with family (children/in-laws) and start spilling your guts abount your ventures and profit margins and how your acquiring them. If you feel a need to talk to someone talk to your banker or tax accountant. I'm a very private person and I read and study and research 2/3's of my time. I'm 48 years old and disabiled with Rhumitoid Arthritis. I own 3 houses all 4/5 bedroom 2 to 3 bathrooms and the works. I also own a 50 acre farm with all the machinery thats required to make it functional and kept nice. I own self-storage buildings that are full constantly, I own several rental properties, I also manage a stump grinding/ trenching business from my home and check on the jobs as far a quality and professional service by driving to the job sites and inspecting the jobs being done and also require the people who work for me to be clean shaven well dressed with the proper attire and safety equipment and expect a positive attitude with the clients at all times. I have purchased large anuities from New York Life have have most of them locked down for 8 years minimun for the best rates. I also have Money Markets, High Interest checking accounts where each night 7 days a week 52 weeks a year the monies are pulled from the checking accounts and put into a form of Money Market and earns a higher interest rate and then put back into the checking accounts. I own large CD's and also some high dividend stocks with Dupont Corporation that pays me money every 90 days ( around $700.00 to $800.00 ) and get this now everything I own is paid for in full and I am in possession of all deeds and titles. Do you realize that every family no matter how big or small needs at least 6 sources of revenue coming in to be comfortable and don't ever get to comfortable and take things for granted or get the midas feeling because thats when your going to screw up. Why have I stated all of this? What is the purpose you say? No its not to blow my own horn so to say, its to make you see and understand the importance of educating yourself in every way possible before striking out on a business venture weither its buying gold bullion, numismatic rareities, stocks, land and so on and so forth. Would you lets say start a exercise business ( Curves for instance) without bring in a consultant firm to do a study of the geographical area as related to supply and demand so you could see either how sucessfull the business would be or how bad it would turn belly up and be a money pit of expense. Drusus you seem to be causious minded and thats great. Your asking some good questions, but don't just rely on others feedback and opinions, talk to the people you trust (banker, tax account, attorney) and a tell your banker you'd like to set up a meeting with one of their finanical advisors and they'll be more than happy to assist you. Well.....as you can see I seem to get carried away sometimes. I didn't mean to get off base if I did and I apologize for being so long winded...so to say. Make money....we've all got to have it, its just a fact. Make money by educating yourself. Make money by listening to people who's job it is to make you money by giving sound, solid, safe advise ( because their jobs depend on how well they invest and direct others) I don't guess I'd be this nuts about this area of gold investments and coins if I hadn't taken such a very large loss along with my friends so I took the measures to insure it wouldn't happen again and hopefully you and others will also. So now I'll shut up and stop being such a bore. Wishing you the very best and everyone else also...be carefull...and have fun! Laughing and smiling and having fun is what its all about...enjoying life to the fullest! Reguards, Michael/starnote from Virginia.

 

Drusus,
Its a long running joke here at coin talk..... GDJMSP is a mentor for many of us that collect gold :bow:
so check out out these threads and realize that this has happened many times to many different people ...... it surely happened to me and if you don't believe me check out my registery set link below, and this is just since Nov 2004 :rolling:
Another One Bites The Dust - Classic #1
Another One Bites The Dust - Classic #2

 

A good suggestion for unslabbed gold coins, though, is dont buy all your gold from one supplier. Buy unslabbed stuff from many different sources!!!

 

I was refering to the wife comment but that might be pertaining to something I missed as well...

I apprieciate all the advice given here...I think I am well armed now with info to help me make a more informed choice. In the end, I just have to make that leap and do it and hope I make the right choices I think I am going to start with a Kruggerand 1 oz. and go from there...keep my eye out on good deals on vcoins and ebay as well as a few other sites...

:high5:

 

okay...I went ahead and bought my first gold coin. I figured for my first coin I wanted it to be something I really wanted and was as nice as I could find of the type. I bought this 10 mark Wilhelm I...its small...doesnt cost a whole lot and is very nice not many scratches or nicks. Now...it came in a paper flip...whats the best way to store a coin like this to keep it from getting scratched up? Is a normal plastic flip okay?