Gees, where does this end? $600 maybe around the bend.

$4,250 in 2012. That's my guess anyway. I was reading an article today calling for an intermediate term top of $782.

$600 wouldn't really suprise me. $700 isn't too far of a stretch either.

Overheard some guys at the coin show saying they have (currently) about $20k and $25k in gold that they are hanging on to. The odds of gold going even higher is in their favor.

I'm new to this forum, and started collecting last week. So far I've picked up five 1890-1900 world gold coins, and I'm glad i didn't wait until gold went even higher! All of them are BU, and three of the five are slabbed at MS-62 or higher. I love these types of coins, and they may turn out to be a wise investment; a cool hobby to have if you ask me!


Doug

Indeed!

you're fast

And rich

Rich, no. Enthusiastic.....yes! I sold my my beloved fountain pens to start my world gold collection; one hobby turns into another one. I'll probably get two or three more in the next few days, as i'm trying to stock up before gold gets too rich for my blood.



Doug

Be careful. I remember 1980 ... gold at $800, silver at $52. With inflation those prices were alot of money then.

Gold is expensive these days due to weak US dollar and other countries are hoarding excessive gold.

A nice job done Doug - you might be beating inflation too easily

Split off the economics debate to here...

http://www.coinpeople.com/page-1-t6649-s0.html

Where it belongs.

28 you really need to join the debates forum.

up over $14 today, gaining back almost all that was lost earlier in the week!

When the US was on the gold standard our economy suffered through booms and busts.If I remember correctly 1895 and 1907 saw bank collapes and panics.

Actually 1893 and 1907, there was another one in 1873.

Thanks, I felt I was close.

This is kinda over my head, so I have to ask. Are the prices listed for coins, or how does this work? Is this for gold boullion, or just for coins?

The prices listed are for one ounce of pure gold, whether coin, bar, nugget or dust, it's only the price for the metal itself.

Gold was at 850$ in 1980
I seem to remember I read last week that would equal 2250 dollars of today
So gold is still cheap today

It is just for the metal, the price changes according to the form you purchase it in, for instance American gold eagles are about $20 an oz higher than the actual gold price when buying, and only a slight amount over when selling. In contrast an older and formerly popular prior to the apartheid unrest coin such as the South African Krugerrand trades at slightly over melt(value of the gold) and a bit less under melt when selling.

Bars usually trade at or very very close to melt.

Yes, prices were high in '80, but how much of that was actual market factors and not manipulation?

A lot of the price back in 1980 was driven by fear, fear of inflation, fear of the international scene, Afghanistan had been invaded by the USSR, Poland was beginning it's long journey to freedom. During the whole of 1980 there were 52 American hostages held in captivity in Iran(with the exception of some smuggled out on Canadian passports

Not to say there wasn't manipulation, because the Hunt brothers bought up huge amounts of silver to drive the price up, and then the bottom fell out on the silver price. Gold did not lose as much of it's value as the silver, but did lose a significant amount. Now gold is finally back to 25 year highs.

But consider this, again there are inflation worries, oil is nearing $70, Iran is rattling sabers, and France is discussing using nuclear weapons against such rogue states. Bin Laden is offering truces, whilst his deputy dog recites poetry from the Koran.