Are you going to buy gold this week?

Discussion in 'Bullion Investing' started by myownprivy, Jun 29, 2018.

  1. myownprivy

    myownprivy Active Member

    What's your magic number? What are you waiting for?

    It was under $1250 an ounce yesterday. It's right about there today. It seems likely to drop back under.

    Are you planning on buying?
     
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  3. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    I had every intention of adding to my stacks. Found out this week my dog has to have some pretty major surgery so thats where my funds will be going. So I'll be leaving plenty for the rest of ya.
     
  4. Santinidollar

    Santinidollar Supporter! Supporter

    Considering it.
     
  5. Collecting Nut

    Collecting Nut Borderline Hoarder

  6. myownprivy

    myownprivy Active Member

    Proof 1 oz gold Eagles (paid by check) are $1293 on Apmex right now. That's cheaper than the $1302-1305 for 2018 1 oz versions of Maples and Eagles. Considering that at the moment.
     
  7. Clawcoins

    Clawcoins Well-Known Member

    Yup .. been slightly trying this past week.
    some of the things I'm interested in have kept their price up, other misc things has reduced. Then it all comes down to where I want my money to go.
     
  8. V. Kurt Bellman

    V. Kurt Bellman Guardian of The Farce, & Dead-Eye Master

    Not this week, nor next, nor likely this year. Maybe never.
     
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  9. Numinaut

    Numinaut Member

    I've been looking for an early Liberty Half Eagle I could afford. Not sure if the gold price drop helps out on those, however it might prompt me to start looking for an inexpensive Liberty Double Eagle or Half Eagle. Spot is just above $1250 now. That is a price that will get me moving, or at least looking.
     
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  10. Clawcoins

    Clawcoins Well-Known Member

    My collection lacks a $10 Indian head half Eagle.
    I've been eyeing those the past month ..
    https://www.providentmetals.com/10-...d-eagle-almost-uncirculated-au-or-better.html

    but so many choices (or distractions) in the coin world as I also peruse early 1800 and pre-1800 US coins.

    I value the gold coins more than the pre1800 Silver coins. The Silver coins have such a numismatic premium versus picking up a nice pre33 AU gold coin closer to it's gold value. It's always one of those difficult decisions.
     
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  11. Clawcoins

    Clawcoins Well-Known Member

    FYI, if it hits $800 .. I'll go hog wild buying gold coins. :)
     
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  12. myownprivy

    myownprivy Active Member

    They're very nice looking. $80 premium over spot, though. In your guys' experience, how easy is it to recoup anywhere close to that numismatic premium?
     
  13. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    I like it!... I am like you. I have great specimens of most. My ten buck Indian is one of the most worn coins in my collection. Get it and post a photo so I'll be motivated to replace my homely example.
     
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  14. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    I been buying gold coinage since the 1980's. I have yet to sell one though. So even if I sold at a less than advantageous deal, I would come out fine.... My point is I would never consider buying a gold coin with the expectation of earning a short term profit. Gold is a fairly safe way to store long term wealth. Short term is a fools gamble.
     
  15. Clawcoins

    Clawcoins Well-Known Member

    My collection is quite diverse. And this type of coin would be in my "eagle design" collection which I only need ONE of them. Not a bullion stack collection. So "recoup" cost is NOT in the equation as we are talking it being liquidated (or not) by my kids or me some 30+ years from now for my kids.

    Now I also collect the modern $5 commem or 1/4oz eagles for specifically GOLD stacking. Those I wait for dips and I have very few of them. But those are GOLD stuff which I am constantly worried at spot price and how close to spot I can buy them. Haven't sold any of them but I constantly watch the "buyback" prices for them. I'm hoping Gold will average UP over the next 10 years where i could get 5-10% return on them .. pitiful compared to my other investments.

    I guess this is more of a "I like looking at the small pile of gold hobby" than any type of investment. PMs short term is foolish. Long term should be okay .. maybe. But there are far better investments if you ask me .. like a savings account. LOL
     
  16. V. Kurt Bellman

    V. Kurt Bellman Guardian of The Farce, & Dead-Eye Master

    When I'm NOT at a major coin show, the buy/sell spread on ANY gold is so ridiculously high, it's a near-certain losing proposition.
     
  17. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    Remember back when a simple savings account could earn you upwards of a 12-15% rate? Of course a good credit card rate was 18%... My how times change.
     
  18. V. Kurt Bellman

    V. Kurt Bellman Guardian of The Farce, & Dead-Eye Master

    Malaise.
     
  19. Clawcoins

    Clawcoins Well-Known Member

    I vaguely recall those days but then my mortgage rate was also high like 7.5% back then.

    But then, my CC is currently 7.9% and I don't ever recall having a primary CC above 11%.
    and my high yield savings account is 1.75%
    and my junk loan investments which were 10%+ return 2 yrs ago have dwindled to 1.8% (as I wait for all those to expire) which is now comparable to, yes, my HY savings account which do not have the risk.
     
  20. Santinidollar

    Santinidollar Supporter! Supporter

    Apmex had a 24 hr eBay special yesterday: 1oz ASEs for $9.95 over spot. They sold out in the hour before I saw the email alert.
     
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  21. STU

    STU Active Member

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