Not at all. If something like that happens -- or another pandemic, or some other geopolitical event -- my point is that gold will surge over a few days. If that DOESN'T happen, gold should slowly and boringly rise over time as increased demand outstrips supply.
OK. Sell the house and the cars and the kid's toys and buy gold with the Wampum now, so you are prepared ahead of the crowd. I don't want you to worry and fret and wring your hands when the End comes, because you waited......
You clearly haven't read my posts here over the years. I am suggesting NOTHING like what you imply. For speculative capital, or non-investment portfolio $$$, I think buying gold here will work over a multi-year time horizon. That's all I said. If you disagree, fine, state your reasons, we'll let the readers judge and make up their own minds.
The point is, I have. You like gold. You enjoy convincing the public of the righteousness of purchasing gold. Nothing wrong with that. You believe your thoughts are correct. I am not a gold connoisseur. Gold Sellers are simply another MLM, without an AMWAY magnetic advertising sign on the car door. That's all I said. If you disagree, fine, state your reasons, we'll let the readers judge and make up their own minds.[/QUOTE] It is not a Contest. To paraphrase the Bard: "ME thinks thou dost protest too much". Me? Land. And Land. And Land. It has served me well. So..... Truth in editing: Added an "r" and a "."
I'm not convincing them of the righteousness of anything. I think the fundamentals for gold point higher. If this were merely a byproduct of holding gold ETFs or gold bullion/bars, it wouldn't be any fun. The good thing is we can enjoy the numismatic and historical significance of beautiful Gold coins which makes it that much more fun. And I have said REPEATEDLY that this is a hobby, NOT an investment...mentally, I write everything down to ZERO and if these coins/gold are worth alot more when I retire and/or need the $$$....great. If not, that's what savings, mutual funds, stocks and bonds are for. Those items are for me, the gold is really for my heirs. They can have a little fun --with some effort -- to sell them at the approximate values I have updated in my Post-Mortem Spreadsheet.
BTW, I'm not a gold "seller" as I have never bought the coins, metal, or ETF for anybody in my various stints managing money and working in two Private Banks. I have no interest or benefit if gold goes to $3,000 (likely at some time) or $1,500 (unlikely but possible).
As buying for the future Iam always bullish On GOLD picked up 16 once’s last month alone picking up another pamp bar tomorrow
I would like to get the four piece gold bullion set with the eagle head on the reverse, but the $2,000 + price tag for bullion is slowing me down. I guess I should have bought when it was $1.800, but I was afraid that price was too high. I spent $650 for the "Family of Eagles" four piece set I bought in 1989. I spent $995 for a four piece Proof set I bought in 1999. The "gulp and pay" gets kind of hard when price for the same thing goes over $5,000.
If you really understand how the "norm" think and want, the price is but a minor factor in purchasing. Since the late 1940's at 9 Y.O., when I offered my assistance to a BM shop owner in trade for some pretty "foreign" coins that I new could be traded for something more valuable to me, I have "traded"! Once you learn what others generally want, but are indecisive, you can trade to own (Fiat/Other), and you'll be contacted. I was taken to shows as an advisor/buyer/seller by BM owners, receiving reasonable coin compensation. I "traded" on numerous sites, as publications/Yahoo/ebay/etc.. Soon developed a large following looking for something, but with them saying Oy Vey for a trade offering proposal, which generally was finalized. You can generally find a way, even though when I "retired" from an employer, owed a 6 figure debt, it all "works out"!
The pattern has been for gold to way and then fall, but never to as low as it had been before the run up. Economic uncertainty always drives gold prices up. Will things settle down? The political situation doesn’t seem indicate that. Another problem is that I like nice coins, not chopped ones. I think that buying bullion coins, like the American Gold Eagle, in slabs is stupid. What I want is four nice coins in a my own suppled Capital Plastics holder.
I generally agree with you if you're only a collector, never intending to sell, or near the end of your term in this world. I've spent more than 70 years here collecting/buying/selling coins, meeting thousands of individuals through-out the world. I believe you might consider the market-ability of what is left for others, beyond your stellar personal-opinion collection. Buyers can be really "nasty" and frugal, or so I've found/watched. I've acquired a hardly-equaled quality collection while others were "deciding". With current global conditions, hardly a day elapses that I haven't acquired a virtually perfect "top-tier TPG" certified scarce Gold coin. Today I acquired a PR70 and PF69, at less than average market value, by not insulting Sellers, and paying immediately. I FULLY AGREED WITH YOUR COLLECTING ATTITUDE BEFORE ACCUMULATING EXCESS FIAT, AND CASH MAY BE OUTLAWED. YOU WOULDN'T WANT TO HEAR SOME OF THE HORROR STORIES REALIZED BY CURRENT WORLDLY TRAVELED ASSOCIATES. THEY TOLD OF VIRTUALLY IMPOSSIBLE TASK OF FLYING/LANDING IN A LOCATION WHERE ONLY A VERIFIABLE CURRENT CREDIT CARD IS ACCEPTABLE FOR ANYTHING, U.S. FIAT CASH WASN'T ACCEPTABLE, AND U.S. SERIES EE "BEARER BONDS" AREN'T EVEN ACCEPTED AT MAJOR U.S. BANKS! THEY WERE REMINDING ME THAT I'VE NEVER OWNED A "CREDIT-CARD", AND HAVE A ZERO CREDIT RATING!!
Most all the value in the American Gold Eagle is tied to the spot price of gold. If that goes up or down, that sets the price. The coin has a limited, if any, numismatic value. There is a premium, which is covered on the Greysheet, because this is a United States gold coin. It's not really numismatic.
These are 1/4oz Proof coins, with a premium ~same as your MS 1924 St. Gaudens. The 1/10oz often sells @>100% premium. Low mintage often scarce PROOF, high/highest TPG grade, very desirable for young males! Check it out! https://www.ebay.com/sch/i.html?_from=R40&_nkw=1/4 oz gold coin PROOF&_sacat=0&Certification=PCGS|NGC&_udhi=850&LH_BIN=1&Coin=American%20Eagle&_dcat=177652&rt=nc https://www.ebay.com/itm/2029151776...SxFup3KoEABCGgQjgCG2S+K6E=|tkp:Bk9SR-bs_aTKYw
Yup, no doubt....part of the premium is clearly by people who want gold but can't spring for $2,000-plus for 1 ounce of gold. So they chase sub-1 ouncers thinking gold will double or triple and they'll make it back. I don't know how many people actually are collecting these particular issues and contributing to the underlying demand. I honestly have never run into one. I myself have a few -- I bought them when I didn't have enough $$$ for a full ounce.
I'm sure you know this, but many think silver should climb more percentagewise. Just to mention, I'm sure not smart enough to know.