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

The $1 coins sell for more over gold value simply because they are cheaper and within more people's price range. I have not seen them selling as high as $2.5 coins on average.

 

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This article did a great job of bashing P. Schiff, but I read nothing in that article that told me they really know where Gold is heading other than emotion. Might as well throw darts at a board. Just my opinion, within the next few years our economy will collapse, the dollar will no longer be the world standard and Silver & Gold will be very valuable to own. Yes the metals will rise high, right Peter S.

 

The prices of gold and silver tend to have a mild to medium spike for a few months following a presidential election (or it could be because such elections always fall on a "leap" year, lol), but that spike is typically followed by a retreat. It's possible that the run-up to the election is marked by candidates promising better times. So many other things have to be considered before someone uses this as a gauge for investment, including the proverbial "black swan" - some significant, unanticipated event or chain of events (think 911). Also, we need to bear in mind that India has been, and continues to be, the world's largest consumer of gold, partly due to it having religious significance for them. November's Diwali festival there makes for the bulk of demand for that quarter (3-month period, not 25 cents: I have to remember where I'm commenting).

 

but you will pay much more than the $58 when you buy any classic one dollar gold coin. your reply reminds me of the time when i bought coins to use after Armageddon had occurred. Edited: please read the rules! No political comments allowed.

 

Yeah, if you are buying "survival" gold or silver, you want to balance buying small weights with small premiums. I would suspect that the dollar coins have very high premiums compared to weight.

 

Precisely why (if that charge were true, and it's not) the article would be even better. Peter Schiff badly deserves a condescending tone. He is quite simply an idiot.

 

I put together a 12 piece gold type-set. While looking for the right coins, I noticed the range in prices for similarly graded options were crazy from place to place. My favorite, the $3 gold pieces in particular, had the wildest swings. Buy them for their numismatic value, otherwise buy bullion.

 

It's never a dumb idea to buy gold.

 

I think prices at coin shows reflects the market better than eBay. I got much better deals at the coin show than on eBay.

 

I don't think as many people are going to jump back into the pool as last either. A lot of people got burnt.

 

I'll have to check out coin shows, of course on ebay the BIN's are ridiculously priced but if you get into checking the gold coin auctions you can get some really good deals.

 

EB31, I agree with all you wrote. People its PM's its never dumb to buy them its dumb not to buy them. Please have a day.