Here's why it always pays to keep an eye on the market ticker: Perhaps I'll call up this poor guy with an offer to sell him all the gold he wants at $200 below the closing price he just fat-fingered. (The actual closing price, of course, was $1181.90. I suppose MarketWatch is thinly staffed on editors/proofreaders over the holiday week...)
I am a pessimist but I doubt that one. I would say $800 is about as low as it will go, given general increases in inflation since it was $400. I am buying some here and there as I want to. I do not think today's price is far out of line long term. However, I just buy what I want, not really as an "investment". I just like the coins.
And meanwhile, in other news from the dollar's inevitable collapse, crude oil has dropped below $54/bbl. Sure glad I didn't invest any more of my retirement fund in those asphalt bars.
My comment was a joke ... maybe you missed the wink? I don't understand hoarding bullion, and if you buy a gold coin (except the uber-scarce-sky-high-priced early USA gold coins) most of your purchase price is wrapped up in the bullion value, not the numismatic value. I've never understood why bullion gets discussed so much on numismatic forums...at least this forum has a separate area for such "discussions." And, for the record, you can't possibly know what the bottom is. Unless you're claiming to me that you can predict the future? Can you also predict the stock market? Apocalypse?
Um, we always discuss what our opinions are for PM prices on the PM forum. I never claimed to "know", just my opinion. I have looked at hundreds of years of data, especially concentrating on the last 90 or so. From that, I have an OPINION as to where the market might go down to as a low point. Sorry for missing the wink. Btw, a lot more coins are not tied up in gold pricing than you think. Do you think I am melting down my Byzantine, Late Roman, Kushan, or Hunnic gold coins based on what the spot price of gold is? There are a heck of a lot more gold coins than only early US that are worth much more than melt. Most gold coins I own I purchased not because they were gold, but because I wished to own the coin and it was only minted in gold. Btw, you are in the BULLION forum, where people discuss INVESTING in BULLION. These investors do not really care about numismatic value, only investing in precious metals as a hedge to their portfolio of other assets, (like me), or as their sole investment vehicle, (some others here). We don't go onto the coin sections and make fun of people paying more than melt for coins, so why do you come into the bullion section making fun of people for talking about investing in precious metals?
Apparently you can't read. I said "at least this forum has a separate area for such discussions"... No need to get your britches all in a tangle...
PM, I just can't see putting any significant amount of retirement assets into this. Couple scenarios. One the armageddon scenario, zombie apocalypse, food, meds, liquor guns and ammo will be the things to own. We go into a severe depression, the dollar collapses, inflation rampant like the weimar republic in the 20s. If you have an average income you couldn't even begin to put enough PM away to make any significant difference to your survival. I've looked up, read up loads on this and the sensible investor in me sees absolutely no case for more than a tiny percentage of PM in retirement portfolio (less than a 1/2%) - more for novelty than any real investment. Chris
Yes sir you did say that, but OTOH you are on the PM board now kind of making fun at the very idea of bullion instead of "collector coins". I was just pointing out members here do not go onto the coin forums making fun of collector coins over melt, right? If you disagree with investing in PM, that is fine, but you should give an opinion as to why, not just thinking its silly because you get less coins that way. Anyway, sorry if any hard feelings. I did not intend that.
How about all those things listed AND precious metal? Even if there is no money during a scenario like that, gold/silver has always been useful for something. It could be used for trade down the road, much like we used to do in the old days. PM's can't just suddenly be worth nothing if there is a collapse. Plus, the cost of ammo/guns/supplies right now are only a mere fraction of what all my silver is worth, so why not own some of everything? One thing is fact, humans have found use in gold/silver since the ancient times and will always continue to be of some value. Lastly, I certainly don't doubt a scenario like many fear, but in our lifetimes it's likely not happening. Generations later I can imagine.
