Gold v. Silver

We would all be rich if hindsight was an investment tool. My best is a Ty Cobb tobacco card that I bought around 1960 for 50 cents...worth about $4000 today. Also other ball cards purchased new in the pack for one cent each (Chamberlain, West, etc.) that are now valued at thousands of $ each.

On the other hand, I did not order a Mickey Mantle rookie card for $1...just too expensive. Now worth $10K and up.

 

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I think we've all been through this one time or another...I worked with a guy in the early 90's that lamented buying silver in 1980. I stopped working in that industry long before the prices went back up to 40/ounce, so have no idea if he hung on. I made the same kind of mistake on a company called F5 - I purchased 1000 shares before the tech collapse @ 9/share (which was a lot of money for me then) - After the collapse, it dropped to 3 and I was pressured (I gave in) and sold it around 3/share. I was telling someone I work with about this a few years ago ... When I looked up the price, it was 175/share ... Guess I made a mistake there ... Hindsight 20/20.

 

Don't feel bad. Out of the Nortel stock I bought around the same time, I sold some at 20% of what I paid, and rode the rest into the ground. ("It's Nortel! You can't honestly believe a giant like Nortel would go bankrupt...")

 

I know all too well. Was out of work for almost 13 months after Nortel laid off 40,000. Was up against VP's for tech support jobs.

 

Aren't gold and coins worth more than just their precious metal content?

 

Not always. I collect pre-33 gold. When I can buy at spot, I always do. The smaller denominations always have a numismatic premium. That premium tends to get smaller the larger the denomination is. A year ago it was easy to find pre-33 gold at spot. Not now. It’s hard to get folks to let their gold go right now and when they do, it will be at a premium. Things will calm down again.