Jump to content
CoinPeople.com

First spouse gold flops


Dockwalliper
 Share

Recommended Posts

Last year before the first spouse coins were released I thought they would be a flop. Most collectors seemed to have little or no interest. I was as suprised as anyone when the first couple issues sold out so fast. Now it looks like it was the speculators that grabbed up all those coins and now with gold so high and little demand from collectors these coins are heading for the melting pot. CoinWorld is reporting that Silvertowne has melted between 5000 & 7000 of the first two issues. Thats nearly 1/10th of the total mintage.

Link to comment
Share on other sites

So now is the time to buy a couple. They could be worth something in ten years or so.

That's a good speculation, but do you think that numsmatic value will be able to hedge against the loss that I believe gold will experience once the economy stabalizes? I mean, if gold falls to 300-400 an ounce, do you think the numismatic value can be worth the 600 dollar mark up gold is seeing? I'm not challenging you in anyway, I'm seriously asking your opinion. I don't know enough about how high numismatic value can go to determine this. I know we see coins carrying crazy price tags, but I'm just wondering if gold goes back down to a normal price what you think will happen. I'm going to bet against it, but that's just my inner frugal.

Link to comment
Share on other sites

That's a good speculation, but do you think that numsmatic value will be able to hedge against the loss that I believe gold will experience once the economy stabalizes? I mean, if gold falls to 300-400 an ounce, do you think the numismatic value can be worth the 600 dollar mark up gold is seeing? I'm not challenging you in anyway, I'm seriously asking your opinion. I don't know enough about how high numismatic value can go to determine this. I know we see coins carrying crazy price tags, but I'm just wondering if gold goes back down to a normal price what you think will happen. I'm going to bet against it, but that's just my inner frugal.

 

I seriously doubt that gold will ever fall to $300-$400oz, unless some clever chemist invents a way to synthesize it.

 

As a variation to the old "Buy the book, then the coin", I'll add "Buy the coin, then the metal..."

Link to comment
Share on other sites

I seriously doubt that gold will ever fall to $300-$400oz, unless some clever chemist invents a way to synthesize it.

 

As a variation to the old "Buy the book, then the coin", I'll add "Buy the coin, then the metal..."

 

I think it's a very good liklihood. It all depends on what the dollar does. Currently we're at near historic lows. If the dollar bounces back then You'll see a flood of gold back into the market which will dump the price. Not to mention this current price will have a huge affect on how much jewelry is purchased which in its very nature will lower the price. You're seeing a rally right now, the same that happend in the 70s when it became legal to own gold again. Everyone went nuts buying it, then they decided they didn't want to pay that much so it fell quickly. Maybe it won't fall to $300.00 but it most certainly won't stay nearly as high as it is.

 

au75-pres.gif

Link to comment
Share on other sites

Any collector could have told you they weren't gonna pan out. It's easy to throw a few quarters into a drawer after getting them in change but it's asking a little much for people to invest in SO many pieces of GOLD each year just to have a complete (and somewhat ugly) series.

 

That being said, I have the bronze medals of the Liberty's on my birthday list. Classic beauty which I would otherwise not have been able to own until after having worked my husband through grad school.

 

On a side note, was Jefferson's Liberty the Flowing Hair type or the Draped Bust type? I can't remember.

Link to comment
Share on other sites

I think it's a very good liklihood. It all depends on what the dollar does. Currently we're at near historic lows. If the dollar bounces back then You'll see a flood of gold back into the market which will dump the price. Not to mention this current price will have a huge affect on how much jewelry is purchased which in its very nature will lower the price. You're seeing a rally right now, the same that happend in the 70s when it became legal to own gold again. Everyone went nuts buying it, then they decided they didn't want to pay that much so it fell quickly. Maybe it won't fall to $300.00 but it most certainly won't stay nearly as high as it is.

 

au75-pres.gif

 

Do you think the chinese prefer the billions of digital dollars or paper dollars with which they are not even allowed to buy harbor unloading companies or oil companies but only banks that are as good as broke ? Well they seem to have said thank you but no we do not want to get part of XXXX bank

They just may prefer lead and zinc and copper and silver and gold

Whilst in India those that sell old gold prefer to walk out with new modern gold

By the by if you have heard of inflation you should post an inflation adjusted chart

Link to comment
Share on other sites

Do you think the chinese prefer the billions of digital dollars or paper dollars with which they are not even allowed to buy harbor unloading companies or oil companies but only banks that are as good as broke ? Well they seem to have said thank you but no we do not want to get part of XXXX bank

They just may prefer lead and zinc and copper and silver and gold

Whilst in India those that sell old gold prefer to walk out with new modern gold

By the by if you have heard of inflation you should post an inflation adjusted chart

 

Originally I didn't understand what you were saying. I still don't understand what you meant by talking about China, maybe saying their demand will increase price? In terms of inflation adjusted charts depicting the price of gold yes, gold really hasn't gone up in price that greatly, but what you fail to look at also is inflation adjusted income. According to infoplease.com. With inflation adjusted, The American minimum wage was two dollars less in 2007 than in 1974. So taking all things into account, the price of gold is still astronomical. There's just so many numbers that it makes it easy to spin.

 

If you want my source: http://www.infoplease.com/ipa/A0774473.html

Link to comment
Share on other sites

In CPI adjusted prices gold is normal

and NOBODY believes CPI in any country in the world if they are thinking right

 

http://www.investmenttools.com/futures/met..._about_gold.htm

 

 

If every working chinese woman wants a pair of gold earrings watch the price of gold go

 

And I am not even talking about that ; I am talking of the Walmart suppliers and oil suppliers getting rid of their

devaluating dollars and euro

 

Thirthy years ago when I got out of Univ as an ecochemical engineer they said ; try to imagine every chinese family having a fridge and a washer etc

Link to comment
Share on other sites

Like it or not, it is the China market that is driving all of the metal prices since 2003 as the general public has more access to goods. Gold also falls part of the equation as the Chinese like gold for jeweleries. India is as well pushing the metal prices and they are the world's biggest buyers at the moment. Think about it, China and India with the population of what, 2+ billion? If all of them want 1 gram of gold, that is at least 64,308,681oz and their population is still increasing at this very moment.

 

That said, let's say there is quite a fair bit of gold on earth BUT the problem is, mining comes at a cost and someone has to pay for it. There are still some major mines that are being developed / upgrading at this very moment but with development, it always comes in terms of millions.

Link to comment
Share on other sites

Like it or not, it is the China market that is driving all of the metal prices since 2003 as the general public has more access to goods. Gold also falls part of the equation as the Chinese like gold for jeweleries. India is as well pushing the metal prices and they are the world's biggest buyers at the moment. Think about it, China and India with the population of what, 2+ billion? If all of them want 1 gram of gold, that is at least 64,308,681oz and their population is still increasing at this very moment.

 

That said, let's say there is quite a fair bit of gold on earth BUT the problem is, mining comes at a cost and someone has to pay for it. There are still some major mines that are being developed / upgrading at this very moment but with development, it always comes in terms of millions.

 

I don't doubt that the chinese demand is driving price, we see that reflected in oil too, but it will get to a point where people won't buy it. This is just going back to the fundamentals of the invisible hand. I agree with you on the price of gold adjusted for inflation but we can't neglect inflation adjusted income in the calculations. CPI aside inflation has outpaced the increase in the minimum wage especially when factoring in the histroically weak dollar, this still demonstrates that gold is at or getting to an unaffordable price. We all know what happens when things can't be afforded.

Link to comment
Share on other sites

That's a good speculation, but do you think that numsmatic value will be able to hedge against the loss that I believe gold will experience once the economy stabalizes? I mean, if gold falls to 300-400 an ounce, do you think the numismatic value can be worth the 600 dollar mark up gold is seeing? I'm not challenging you in anyway, I'm seriously asking your opinion. I don't know enough about how high numismatic value can go to determine this. I know we see coins carrying crazy price tags, but I'm just wondering if gold goes back down to a normal price what you think will happen. I'm going to bet against it, but that's just my inner frugal.

It's happened before with commemoratives that were unpopular. Many were destroyed when they didn't sell and a decade or two later they became sought after as people tried to complete collections. I wouldn't recommend it as an investment strategy though :ninja: Gold could easily settle down between $600 and $700 next year.

 

I think the closest thing to investment in coins is to buy problem free choice key coins in whatever series, US, Foreign, Ancient. Those are always in demand and tend to outpace inflation.

Link to comment
Share on other sites

Well they cannot electronically create gold and they cannot print gold

My grandfather had sugar and salt and rice allways but he had two worldwars of experience

and he avoided the second worldwar with gold double eagles

I buy gold up to 1000$ and then we will see

1650 is a given like Sinclair says

Link to comment
Share on other sites

$1650 !!,,, wasn't there a high profile guy saying the DOW would hit 20,000 right before the tech bubble burst... sounds like familiar marketing to me... same guy is probably getting ready to dump gold quick while he continues to market it. BEWARE folks.

 

I know I'm discussing a lot about being bearish on the gold market but I sure hope it does because if gold is booming chances are all PMs are booming, and I've got lots and lots of silver :ninja: The reason I say all PMs will be booming is because a lot of the same forces drive gold and silver prices. I'm a huge skeptic as to how high gold and silver prices can go, but boy oh boy do I hope I'm wrong!!

Link to comment
Share on other sites

Don't get me started on oil. But as far as gold, it can't go up forever. Just wait.

 

 

I am willing to wait till 2011

I think Sinclair with 1650 is way too low and 2250 is an inflation compensated match for 1980 but 1980 was a much safer

place to live without all kind of hedgefunds and leverage etc

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 Share

×
×
  • Create New...