Why won't Gold drop to $800?

Sometimes not even the worth the paper it's printed on. Or the space on the server if you're talking about NASDAQ-listed shares.

 

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I have a confession to make. My real identity is Ted Butler, and you are on to me. How did you figure it out???? I hate you non-stackers!!!!!

 

Gold is down $3.00 so it's holding steady.
Silver is up $.18 cents.
The Dow was up over 200 points when I last checked.

Market corrects are not the end of life!

 

"...correction with panic in the equitiy markets." The S&P 500 is now at 1978 right now, 6 points above Friday's close.

 

I only buy gold coins for their numismatic value so that I really don't have to be worried about spot checking on the market price for an ounce of gold.

 

Do you collect copper-nickel or silver coins?

 

I disagree with that. You are strictly speaking of "retail" silver which has other components associated with the costs besides the spot price of Silver. If you are in a position to buy investment grade stuff, you can easily buy as much physical as you like for chump change above spot. I really don't consider buying ASE's as "trading silver" Even at normal premium levels, that classifies as a retail purchase.

 

I don't buy into the "correcting" scenario. Correction means it will drop and stay there for awhile, yet it has started to climb back to where it was before. I believe the economy is going to take a turn downwards in the last quarter of the year. It's never truly recovered, just holding its own.

 

So it costs about $40 an oz to mine Gold? Why don't you get into the mining business? You'll be a billionaire in no time.

 

A variety. I have some Morgan Dollars in tubes, but I also collect foreign coins, some pure nickel ones from France/Netherlands/Canada (it isn't all nickel, I like to have any denomination from them, and other countries). The majority of my collection is in world coins. I have over 60,000 coins at least.

 

If you were to look into the numismatic value of coins rather than just as hunks of gold or silver, you'd realize that the value of numismatic coins is greater than their "precious metal" contents. For example I just sold an Israeli 1973 silver 10 lirot proof for $45.00. It's silver content isn't worth that much money when you take its actual silver weight, which is .7523 oz. X $14.52 (today's spot)= $10.92.

 

I'm sorry I forgot to attach .....

 

I'm aware of that, I have always known the difference between bullion and numismatic. I never said I was focusing on bullion, I just happen to be browsing on the bullion forums

 

"I see," said Beethoven to Ray Charles as he tinkled with his keys.

 

Mostly collecting the mentioned coins because they are cool and fun. And the mentioned coins I have been hoarding are unique in a way because if their numismatic values don't change, perhaps if the metals do go up I am covered either way.

Most of it was basically Pre-Euro currency, I didn't pay all that much for everything.

 

I didn't like the uncertain look of gold, so I sold the call options today. approx. +70% . I was lucky.

12.50
GDX151016C00012500

 

Greetings my fellow Numismatists. I've been selling on Amazon like hotcakes!
Take a look:

The first is from Israel and the second is from Venezuela.

 

Cost of production is down in part due to cheaper oil and thus energy costs as well as lack of profits necessitating working smarter and optimizing mine production.

If gold is going to $800, it will need to happen in the next 4 months, because after that the Comex won't be the big dog in the price fixing arena.

 

According to some of you, the dollar's bubble will burst, gold will fall through the floor and silver will keep rising. What will non-collectors do at that point in time?

 

I can't speak for whoever gave you that impression - I believe gold and silver will rise together and fall together for one - but if by non-collectors you mean those who did not acquire tangible assets, they will have to rely on their skills and relationships with other people if they don't have any wealth left.