Investors Scoop Up Gold Coins In Record Numbers!

Discussion in 'Bullion Investing' started by fretboard, Dec 28, 2020.

  1. fretboard

    fretboard Defender of Old Coinage!

    Well here it is and it's not Peter Schiff or any other pusher of gold coins! :D The US Mint reports gold bullion coin sales has gone up 700% over last year! JM Bullion is in the video as well! Just sharing this video for discussion, gold coin naysayers are welcome as well! ;) Anyone buy any gold coins lately?

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  3. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    I stopped actively buying at around $1500.00. I have traded an overabundance of silver for gold recently though. I love the stuff.
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  4. medoraman

    medoraman Supporter! Supporter

    I stopped buying gold around the same time. I remember I got a UHR 2009 for $1500, and it was the last modern gold I have bought, (I bought some Roman and Byzantine gold recently, but not at melt).

    Remember how common 2011 and 2012 dated bullion is? That is how I view this. I think in 5 years a lot will be sold for at a loss and I will be there to hoover it up around $1300 an ounce or so. Maybe I am wrong and it will be "different this time", but I am old enough to know that is very rarely the case. Whenever someone in investing tells me how its "different this time" the hairs on the back of my neck stick up and I am always much more nervous than before.
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  5. baseball21

    baseball21 Well-Known Member

    Yea there's no reason to believe that it won't follow the exact same pattern that it has literally always followed where it spikes then comes down significantly and takes years or decades to spike again. Now is the time people should be selling gold bullion not buying
    FryDaddyJr likes this.
  6. QuintupleSovereign

    QuintupleSovereign Well-Known Member

    I'm conflicted. Long term, I am definitely worried about the looming pension deficits, aging demographics, and entitlement spending, to say nothing of the potential rise of the yuan as a rival reserve currency (all bullish for gold in dollar terms). In the short term, though, I think many investors will lose patience with gold's lack of a regular income stream and may dump it to speculate in stocks.
  7. baseball21

    baseball21 Well-Known Member

    There;s no real potential there.
  8. fretboard

    fretboard Defender of Old Coinage!

    Short term people and impatient buyers need to stay away from gold as they will never be happy and normally only complain! That said, there is a huge potential for the price of gold to explode and I'm not the only holder who believes that's gonna happen at all! :D

    JCKTJK Well-Known Member

    I watched this today also, 300,000 new customers in 2020, the last Gold i bought was around the 1425-1450 range, so i am good especially at current prices:D

    i wonder if the 300,000 total includes the customers with Provident Metals, I thought JM bought them out last year or was it the year before??
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  10. I agree that right now is the time to sell. Falling off that next cliff is really going to hurt. TC
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  11. fretboard

    fretboard Defender of Old Coinage!

    Great, I appreciate all comments even the ones I don't agree with! :D thumb2.gif
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  12. Bman33

    Bman33 Well-Known Member

    I bought most of my gold around $1300oz. I am going to continue to buy.
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  13. medoraman

    medoraman Supporter! Supporter

    Oh heck yeah. Everyone has an opinion. Anyone who thinks their opinion is "right" on an economic issue that can have 10,000 cause and effects is kind of full of himself. I think one thing today, but read what others think so hopefully I may change my mind.
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  14. midas1

    midas1 Exalted Member

    "That said, there is a huge potential for the price of gold to explode and I'm not the only holder who believes that's gonna happen at all!"

    I've heard that most of my long life. Because of the deteriorating financial situation in the US and most other countries, it's probably going to be true. In the US I see no way out during our lifetime.
    QuintupleSovereign likes this.
  15. QuintupleSovereign

    QuintupleSovereign Well-Known Member

    If, by price, you mean the dollar price of gold, I would tend to agree.
  16. -jeffB

    -jeffB Greshams LEO Supporter

    I still don't see any way that we could have made it out of the 1980s. And yet, here we are.
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  17. fretboard

    fretboard Defender of Old Coinage!

    Yes, I definitely think it's gonna go up to the highest price possible, my guess is $2300-$2500! Never in my lifetime has the US economy been beaten down as much as it has with this covid pandemic! Here we sit and wait for the vaccines and the POG holds strongly at $1884 earlier today, that's dang good!! Really good!! thumbsup.gif
  18. coinaline

    coinaline Active Member

    The US debt has skyrocketed. Couple that with the West purposely crashing and destroying their economies and you have a problem no one has ever seen in their lifetime...or an opportunity, according to Klaus Schwab of the World Economic Forum.

    I don't think this will play out the way a lot of people expect.
  19. baseball21

    baseball21 Well-Known Member

    EVERYONES has, there's nothing unique about the US one other than the US is in a much better position than the others
  20. medoraman

    medoraman Supporter! Supporter

    China seems to be on a better footing. China's main risk is political, not economic. I know, lots of bad loans on state firms books and shadow lending, but I would say economically they would be the better bet. Japan is aging, Korea not large enough, and Europe is worst than us due to Southern Europe.

    Possibly losing default currency status would cost us more than most imagine. We cannot afford our debt if we do not want the whole world wanting Treasury bills.....

    You are right, relative to other countries we are not worst off after Covid except for China IMHO. Hopefully political risk would prevent major players from wanting the Yuan as the default currency.

    However, we have to keep being America to keep it. We need to continue allowing best and brightest here, attracting capital and talent with good business laws, protecting private property, and fair judiciary. All of these I see under attack by both parties.
    JCKTJK likes this.
  21. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    I think the market it is near the top, so you might want to think twice about putting
    all your eggs in one basket.
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