Is it a dumb idea to buy gold coins right now?

Just wondering if anyone has noticed the prices of pre-33 gold coins. By looking at the prices, both at my LCS and especially on ebay the prices are crazy high to me and by the prices therein, you can't really tell the price of gold is falling. On the other hand some collectors feel that the price of gold will be heading downward in December 2015 and onward to 2016. With all the insecurity heading toward the US economy by the way of the jihadi and overall nut cases do you really feel the price of gold will fall lower in 2016? When is the last time you bought a gold coin?

 

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I buy gold coins almost every day on ebay, and this is about as cheap as I've seen them in a LONG time. I am actually running out of spending money since they are going so cheaply that I am buying more than normal. Not sure why you think they are so high right now?

 

Maybe he's looking at the Gold-Silver ratio; that's still holding me back a little bit...

 

I think when the prices were back up near the $1800 mark most coins were selling closer to the spot price than they are today. Maybe the prices are high because people are holding out to try and break even.

I'd personally buy silver now as Doug said, the S2G ratio is huge, 71:1... back in 2011 it was closer to 30/35 to 1....

 

Has anyone ever studied the rise or fall of gold & silver during the period immediately before & after the presidential election? Just curious!

Chris

 

It's a great time to buy gold coins if you have numismatic interest in owning them, but if you're just interested in the bullion value, it may be more tempting to buy silver instead.

 

Well they are a lot higher than I've paid in the past and that's really the only thing I have to compare to. Also, I went to my LCS to compare prices and he had a 1849 gold one dollar coin and he was asking $220 and Liberty had a scratch on her face, that's just seems really steep to me and there's many offers like that on ebay. I love pre-33 gold so I'll buy more but I was just really curious if I was the only one buying on this forum. Got my answer. Lucky for me I collect tokens as well so at least with tokens I don't feel like I'm paying too much $$$.

 

Well most stackers won't want to read this article, but buckle up and do it, and you will see how the majority of investors are planning their gold purchases.

http://www.marketwatch.com/story/wh...g-about-gold-for-now-2015-05-21?siteid=yhoof2

 

I don't know, a lot of bashing of Peter Schiff but no real facts unless I missed something. Oh, and I am not defending Peter Schiff cause I think he's way too bullish and talks way too much smack about gold going as high as $5000. The only time gold really made a tidal wave statement and got the attention of the world was due to the recession of 2008. In other words we may have to wait until something as life changing as another recession before the price of gold makes another tidal wave statement.

 

I think this Schiff guy was talking about the likelihood of QE infinity (for various reasons he believes in). Personally, I think that's one possible scenario, but, as far as any timeline for future gold price prediction... I think it's impossible for even him to predict.

 

And even then we might not see such a spike in price since precious metal can no longer be offered on leverage by brokers. The run up we saw was a result of both severe economic calamity and paper trades using high leverage.

 

Honestly, I found the authors tone to be condescending with regards to Schiff and gold bulls.

 

My guess is you're likely buying quarter eagles and half eagles cause the prices of the $1 gold coins are especially high to me. When a $1 dollar gold coin sells for as much as a quarter eagle then I must be missing something.

 

I buy the $2.5 and $1 coins mainly.

 

If you believe the PTB will get our debt situation under control then now is not a good time to buy pre-33 gold. Otherwise, I would recommend better grade Indian Eagles.

 

There's just too many factors to the prices of gold. You can start from the global economy, the strength of USD, mine production, etc. If gold prices do fall, it is very unlikely for it to crash overnight.

That said, whatever you do, make sure you know what you are getting or from a reputable dealer. Last thing you need is to spend a fortune on gold coins / bullion only to find out that they are high quality counterfeit / gold plated tungsten.

 

He thinks they are high because he has read the prices, particularly given the nose- dive gold has taken and does not appear to be pulling out of.

 

Stocks, gold, silver, and platinum investing is really "gambling."
Numismatic coins and guaranteed stability of principle and interest are much better investments.

 

So are the $1 gold coins selling for as much as the $2.50 gold coins simply b/c of mintage? The 1849 gold $1 is especially high, my guess is it's the first year of issue. Maybe I'll get one more 1849 gold $1 and steer clear for awhile.

 

I am not a gold bug and have very littll, but my take is if you buy $1 gold coins, you are buying a collector coin regardless of the gold content. A $1 has roughly $58 in gold.