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Gold @ $562.00 an Oz.


Scottishmoney

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$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.

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

 

 

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

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And rich :ninja:

 

 

 

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

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

 

 

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

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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?

 

 

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.

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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 :ninja:

 

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.

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