LIVING OFF DIVIDENDS & PASSIVE INCOME

Regular readers will know that I’ve been investing in gold since gold was in $500/Oz. I advised some readers not to jump in at $720 but wait for a pull-back. Well it pulled back from $720 to around $570 and then jumped up a bit. Today it settled around $620 and I bought a little bit more. As I previously mentioned, I like the perth mint Lunar series for the 1 Oz Gold as well as the 1 Oz Silver coins.

This time however, I bought the US mint $50 1 Oz Buffalo Coins. Its the first time the US Mint has made 99.99% pure 24K 1 Oz gold coins. I bought them already certified by PCGS as “First Strike MS-69″.

PCGS is perhaps the most popular independent third party coin grading & certification service today. The grading scale goes from 0 to a maximum of 70. For example a grade of 10 would be a very poor condition. A grade of PF-60 (or MS-60) or above would be an uncirculated coin. PF-70 would be absolute “perfection”. Some experts say there is no such thing as a “perfect” coin. In fact, some grading services will not place a grade on any coin above MS-69 or PF-69.[PF or PR means its a Proof coin, where by the background has a mirror like finish and the fine details of the coin are more pronounced.]

A coin that was made within the first 30 days of issue are called First Strikes. These are the initial production coins and sometimes these become more valuable. Today was the last day that PCGS was grading coins as “First Strike” so I decided to get them.

GoldLine was selling these same coins today for a whopping $1044, but I got them from American Precious Metals Exchange for only $667. These same coins are already selling on Ebay for atleast $735 so at $667, it doesn’t seem like there’s much downside.

Gold is in a long term bull market so I really don’t think I’ll lose any money on these coins. However Silver might be a better play with more upside potential, but then who knows what will happen. I’d buy both but my wife inherited about 5 kilos [about 155 Ounces] of Silver a few years ago so I guess were done hedging with silver.[But I still bought a few Silver 1 Oz coins off Ebay. I'll post the pictures once I get them]

Oh, and 5 kg of Silver is less than $2,000 worth!

Check out my bookstore.
[All content is copyright of Adventures In Money Making]

• New Million Dollar Coin In part as a marketing exercise, The Royal Canadian Mint has produced a $1 million face value coin containing 100kg of .99999 pure gold. With gold currently trading at $660 per ounce and each kilogram containing 31.1 ounces, the actual cost of the gold in the coin is worth......
• Whats this blog worth? Based on the rumor that AOL paid 20-30 million for Weblogs, Inc. someone figured a way to value the links pointing to a blog. Accordingly, my blog is worth $6,774.48 today. I'll take cash or amazon gift coupons. My blog is worth $6,774.48. How much is your blog worth?  ......
• Gold Play: Great Time To Invest As I've mentioned before I think the US is going to enter a period of inflation and recession brought on by the trade & budget deficit and precipitated by the devaluing dollar. Both Oil and Gold have been in a slow and quiet bull market for the past few years.......

• 2010: The Best of Times or the Worst? Pictured above is a graph of mortgage resets. In simple terms, a mortgage reset is when a mortgage comes due. In normal times, refinancing was a simple process…but these are not normal times. Some points of interest: 1. In September 2008, the mortgage resets hit $35 billion that month.......
• Athlete Profiles: Venus Williams Venus Williams and her sister Serena are two of the most easily recognized players in the game and they have rocketed to national prominence over the past few years. Venus was born in 1980 and holds the records for the most Olympic gold medals for any tennis player, male or......
• Sims Makin Magic Coins? Ok, this game has been out for awhile...and there must be a cheat code., or AN EASY way to access a vase or something to get majic coins...We are about ready to sell it and get our money back, due to the work involved in just gettign the coins..without the......

[All content is copyright of Living Off Dividends & Passive Income]

Related Posts

• October 4, 2009 -- World Bank President: Time To Diversify Out Of The Dollar
• February 18, 2009 -- Demand For Gold Tops $100 Billion!
• February 2, 2009 -- Peter Schiff: Dollar Is The Next Bubble To Collapse
• January 9, 2009 -- What Happens When Demand for US Debt Dries Up?
• November 25, 2008 -- Buying Cheap Gold Coins
• November 22, 2008 -- Gold Jumps: Has It Become Correlated To The Stock Market?
• August 15, 2008 -- Rogers Still Bullish On Commodities