Gold At $100 Off Its 2006 Highs
Gold has retreated quite a bit since its high of $730 on May 11th 2006. Its currently trading around $630/oz. I see this as a good buying opportunity. While I’m against dollar cost averaging, I think gold is in the beginning of a bull cycle and this justifies buying on dips.
I recently bought another Australian Lunar Series coin. This time I got the Dog. Also got it in the Silver coin and surprizing the species of dog is different on both of them.
Anyway, I also bought some gold British Sovereigns [around 100+ years old], some French and Swiss francs and an 1873 Danish “Mermaid” Coin.
I also bought a 200 yr old gold coin of Napolean Boneparte! [Ok maybe I'm going nuts with this gold coin stuff, but its hard to stop buying those damn things now!] Better stop now before the wife gets upset!
I also got a bunch of Silver Eagles. Funny how the price of silver is so low considering that its used in electronics as well as jewellery. Compared to Gold [which in my mind is inherently useless] it hasn’t gone up as much. Anyway I’ll post pictures of them later.
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- Peter Schiff: Dollar Is The Next Bubble To Collapse Here's an excellent video starring Peter Schiff. He predicts that the US Dollar will be the next bubble to burst. As a corrollary, I think gold will be the next bubble. The dollar collapse seems unlikely, you say? Well he did predict the collapse of the housing market 4 years......
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Another Gold Investing Update 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...... - China Buying Gold On The Sly! I just read this interesting article in the Financial Times. Seems like China has tired of US dollars and is looking to get rid of them. Beijing Bets on Bullion  By Patti Waldmeir in Shanghai , Financial Times, 6 May 2009 China is expected to keep buying gold to diversify......
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August 17th, 2006 at 6:27 am
Do you buy the physical gold or are you buying a ETF?
August 22nd, 2006 at 12:56 am
physical gold. that way I can take my money and run!
Ebay has provided a certain liquidity in the rare coin market. Might as well buy the coins with a low premium over the value of gold in them and see if that premium increases over time.
My guess is that as gold/silver prices increase, collecting coins will become popular again and the prices for old coins will take off.