Are you going to buy gold this week?

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

  1. GoldBug999

    GoldBug999 Active Member

    I'm on hold with my gold coin buying due to other priorities, but look forward to buying more pre-1933 gold over the next few years. I agree that buying gold with an expectation of short-term profit if a losing proposition.
     
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  3. juris klavins

    juris klavins Well-Known Member

    It's difficult to give it away at any price :oops:

     
    Numinaut likes this.
  4. Nathan401

    Nathan401 Supporter! Supporter

  5. NLL

    NLL Well-Known Member

    Where is this at? I need to take a road trip!
     
    spirityoda and juris klavins like this.
  6. benveniste

    benveniste Type Type

    Gold? Probably not. Platinum? Possibly.
     
  7. Clawcoins

    Clawcoins Well-Known Member

    some of the platinum premiums have skyrocketed. Just make sure you check spot platinum to what ever you want to buy.

    I kept track of platinum - american eagles. A while ago I made the decision to buy the platinum eagle proofs as they were only $10 more than the BU. But lately the Proof premium has skyrocketed to $70 more than BU. So much for that ... no bargain at that point unless I get the BU (which has the same reverse pattern for all years versus the Proofs). Add to that the premium anyways and that created a choking point for me; conversely ppl trying to sell it are kinda stuck with it it seems if they bought high and are trying to cash out some.
     
  8. spirityoda

    spirityoda Coin Junky Supporter

    wow. give me that gold coin now
     
  9. V. Kurt Bellman

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

    They look like idiot Los Angelinos.
     
  10. longnine009

    longnine009 Hammer of the gods

    Not buying gold. What if SPECTRE diabolically devises a contaminant that bloats gold? You know, increasing the diameter of a 1 oz gold coin to 300mm but keeping the weight the same. That would make silver more attractive when it comes to storage.
     
    Last edited: Jun 29, 2018
  11. RickO

    RickO Active Member

    I have purchased, and stacked, gold since the days of $300+ oz. gold. I do not sell it - well, I did sell some darkside gold close to the peak back a few years ago. Gold has never been worth nothing... and watching world and national economics, it is a good resource to have as a percentage of one's security.
     
    Randy Abercrombie likes this.
  12. RhinoEmpire

    RhinoEmpire Hi-Yo (Ag)

    Yep, I found some German gold Marks and a couple of Double Eagles under spot (eBay Bucks). I'll use my refund to purchase some silver.
     
  13. RhinoEmpire

    RhinoEmpire Hi-Yo (Ag)

    Most will probably lose money purchasing both gold and silver. Selling on eBay will cost you 10% plus shipping. LCS isn't going to give you over spot, and coin shows are an expensive and time consuming hobby for many. While stacking is not going to make you rich, it is an exciting and fun way to add to a portfolio.
     
  14. myownprivy

    myownprivy Active Member

    Still waiting to buy, as gold continues to drop.
     
  15. myownprivy

    myownprivy Active Member

    I have never had a coin shop offer below spot on easily recognizable government issued gold. Gold Eagles and Maples should be a percent or two above spot.

    Are others on this forum really selling their gold Eagles and Maples back to coin shops at below spot?!?!?!
     
  16. V. Kurt Bellman

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

    I have NEVER IN MY LIFE seen any brick and mortar shop offer ANYTHING over spot. Several points back of spot is the highest I’ve seen. The last time I “shopped” a AGE 1/2 oz. the highest local offer I got was spot minus 10%.
     
  17. myownprivy

    myownprivy Active Member

    How are these places staying in business? Who would sell their gold to these shops? Those are pawn shop level offers that almost approach "cash for gold" scam levels that only grandmas and methheads accept.

    I'm shocked! Where do these lowball coin shops exist? Mine offer just above spot on modern government issued gold and silver. Plus, we can all see that the JMBullion and Provident Metals of the world buy back prices on something such as a gold Eagle or Maple is just above melt.

    So if good coin shops are spot-1% over on a one oz gold Maple and online is 1-2% over, why would someone do business with a lcs that rips you off and pays 10% under?
     
  18. Santinidollar

    Santinidollar Supporter! Supporter

    Another skunk of an investing day. Dow down, bonds doing a lot of nothing and PMs dropping below previous levels of support.

    Speaking of Treasuries, I’ve heard a rumor for years of normalized rates coming. I’m about to file that under “Urban Legends.”
     
  19. CoinsandBars

    CoinsandBars New Member

    I want to buy some 1/4 oz Gold Eagle.
    But then again I see that silver is down and I want to use the money for silver instead.
     
  20. V. Kurt Bellman

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

    LCS's act they way they do because the only option is the pawn shops. They price down to the competition. This is why I say that gold is not just a BAD investment, it's a HORRIBLE one. The lack of options is the key.
     
  21. myownprivy

    myownprivy Active Member

    I just wonder if that is from your personal experience of living in a region with a relatively depressed local economy compared to booming areas on the coasts or big cities?
     
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