gold prices

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sophia37 -> gold prices (11/8/2009 7:38:01 AM)
I thought of PAHunkboy when I saw this article in the NY Times this morning. PA is always talking about buying gold and metal. The price of gold is now 1200 an ounce. India is buying gold where it used to buy US Bonds. Interesting. http://www.nytimes.com/2009/11/08/business/global/08gold.html?_r=1&hp

pahunkboy -> RE: gold prices (11/8/2009 7:55:16 AM)
Hello Sophia, Both gold and silver are still a good price to buy. Historically this is a measure of wealth. India purchased some and it is up 5% for them. $1100 for gold. One does not have to be an expert- the old 90% junk silver is easy to buy. Silver coins prior to 1964. A dime runs maybe $1.30. Somehow dimes are in short supply right now. We do have about 2 years where the economy will "go sideways". However real product is getting harder to come by. We are going to see some scandal(s) at places the hold gold/silver. What I mean is what they claim they own and the reality is going to crash. India, China, and Russia are encouraging their citizens to buy gold/silver. Think about how many people that is. That is close to 1/2 the globe. Anyhow- you are not too late to get in. Product is tight- but still can be found. Lindsey Williams says they plan to run the stock market up. Tho he also says silver and gold is "all". I have yet to convince my brother on this one. Gold is going to record numbers- and silver will follow. The old half dollars made of real silver are often in good shape and still not too bad of a price. Our money was real silver prior to 1970. 40% on halfs- then 64 and earlier was 90%. Money still had intrinsic worth as the money itself was the precious metal. Not so today. There are a few decent bullion dealers- that I know are good. email me if you want that info. ebay one can find some of this on. Silver is over $17. It had dropped to @ $10 per TARP. Now up 70% +. November and December are usually good months for PMs. Of course people will do as they see fit. I dont expect the huge moves to come for maybe 2 years yet. Which tho brings back to product availability. I seen where even tho spot was x amount- very few sellers would sell for near that. But this is where paper gold and real gold are going to part ways... and that day will come sooner then one may guess. :-)

sophia37 -> RE: gold prices (11/8/2009 8:38:14 AM)
I'm not actually planning to buy silver or gold or sell my silverware. Cant say I have a stash of gold jewelry. I do have in my possession old coins. But part of who I am, is based on a past that included other people and eras. So to me, the coins I own will stay coins. They are priceless. If we melt our past for some quick cash, its not like we can get it back again.

pahunkboy -> RE: gold prices (11/8/2009 9:33:04 AM)
Most of the coins are not being made any longer. They do make Silver Eagles- and gold eagles. There is a portion of the 90% that will have value that is more then bullion- but not quite nuismatic. In general I avoid nuismatic. But have bought coins based on pretty. 90% quarters I think have the most wear. Alot of people have old coins... they might not think of it- but often from a grandparent or elder. As to the coins you own- they will maintain there value. A benefit of a coin is you can easily identify it.. and its worth.

pahunkboy -> RE: gold prices (11/8/2009 10:32:36 AM)
A 90% half today will sell for $7 and up. Franklins are my favorite. A 90% dollar will sell for $19 and up. I tend to not get into these.... A 90% quarter - roughly is $3.50, tho $4.50 is a more common price. The price and quality must be there for me to buy these. A 40% half- the cheapest price on those is $3 right now. I have several I bought at less then $1. There is a few years of 35% nickles... they sell for maybe $1.15- most collectors tho have very little interest in these. I would save them- but not buy them. The lower the % the harder it is to melt. 40% is more expensive to melt then 90%. It usually is illegal to melt these coins- tho it happens. Uncirculated coins are worth more. As to state quarters and such- they are time wasters. There is no silver in them. Astoundingly 40% was doing very well there for a while- the copper content boosted the value up- something no one has planned for at the time. I just got a bunch of Barber dimes in. I got a great price on them. I like the Barbers as the design is nice. I must say that the hobby is mainly male dominated. I belong to a batch of silver/gold/coin board- and 90%+ are males. The dimes could have very good trade value. Because one can do so with no change back. I read that the silver eagles are the last thing people will part with. I got some of those at a great price. cash back rebates. Some foreign coins had silver content in them as well. This can be tricky tho. I wanted to get a jump on the market and learn that area. I did so-so on it. With other countries they diminished the content gradually. So- one has to really know the history of it. 90% and 40% is still legal tender and if one was in a pinch- you "could" use them at the store. It would be foolish- but this has happened. So it is not like trading say a ring... or necklaces. Anyhow put your old coins separate. You never know- one day you might really be glad for even just a few of them. :-)

sophia37 -> RE: gold prices (11/8/2009 11:45:54 AM)
Once upon a time I actually took all the money I had, both bills and coin, looked them up and discovered they were worth about 4 grand retail. 4 grand is not the same as say 40 grand. If they were worth that, I might be tempted. I do know that the bills and coins came from my dads army days, from other country's. Or my Mom had money from her grandparents. (As in some interesting civil war issued stuff, not as in an inheritance of grand proportion money) So I guess what I have goes back, five generations before me. Some of what I have is what you mention as well. I'd hafta go dig it out to tell you exactly. And even then I probably wouldnt know how to explain it unless I first looked on line for the descriptions.

pahunkboy -> RE: gold prices (11/8/2009 11:56:47 AM)
quote: ORIGINAL: sophia37 Once upon a time I actually took all the money I had, both bills and coin, looked them up and discovered they were worth about 4 grand retail. 4 grand is not the same as say 40 grand. If they were worth that, I might be tempted. I do know that the bills and coins came from my dads army days, from other country's. Or my Mom had money from her grandparents. (As in some interesting civil war issued stuff, not as in an inheritance of grand proportion money) So I guess what I have goes back, five generations before me. Some of what I have is what you mention as well. I'd hafta go dig it out to tell you exactly. And even then I probably wouldnt know how to explain it unless I first looked on line for the descriptions. You are in good shape. You are a collector and did not realize it. And true one does not sell the coins unless there is a very good reason. You own more security then you know. So put it in a safe place and if it ever comes time to part with it- do some digging on the fair market price. Foreign coins- some do have potential- generally the older coins are more likely to have silver content. In the coming years- the coins will be worth more. I am happy for you!!! :-) One does not get ahead by churning or overly trading. They are not too hard to find online. To compare. You are in better shape then many... :-) Watching day to day prices is not a great strategy. When the prices go up- people will simply refuse to sell. Which will make the prices more seducing.

SL4V3M4YB3 -> RE: gold prices (11/8/2009 12:10:47 PM)
This christmas I'll make sure I collect the wrappers from the Ferrero Rocher.

pahunkboy -> RE: gold prices (11/8/2009 12:27:49 PM)
quote: ORIGINAL: SL4V3M4YB3 This christmas I'll make sure I collect the wrappers from the Ferrero Rocher. http://en.wikipedia.org/wiki/Ferrero_Rocher http://www.ferrerochocolatesusa.com/ Why? Those look like foil wrap. The candy looks good tho.

SL4V3M4YB3 -> RE: gold prices (11/8/2009 12:34:05 PM)
Ha so I see you've fallen for the gold leaf disguised as foil ploy? This is what the government wants you to believe but in reality central reserves of gold are too unsecure. So they instead move gold around the country via chocolate confectionary manufacturers and recycling centres. This way if they keep the gold moving only the government with its product packaging barcode tracking system (PPBTS) can tell where all the gold is at one time.[8\|]

pahunkboy -> RE: gold prices (11/8/2009 12:50:34 PM)
I doubt the governments have much gold. Contracts are settled in dollars for the most part. The federal reserve does not want transparency. Heck they cant bean count digits and Federal reserve notes. Then you have a mint in CA that had gold "missing". HELLO- how does a few tons of gold get "missing"? So one must check 3rd party risk. Color it greed. Color it incompetence. It doesn't matter. The bottom line is that one has to avoid 3rd party risk. 4000 of 8000 banks are insolvent in the US. So these people are not good trustees and do not count the beans very well. This is 3rd party risk. But what can you do? Stack silver/gold. Anyone here can do that. The banks HATE that. They cant count your beans and direct your resources. hmmmmmmmmmmmm.

sophia37 -> RE: gold prices (11/8/2009 4:58:47 PM)
Yup. The gold standard. World record On October 10, 2008, Jim Lyngvild set the Guinness World Record for eating a grand total of seven Ferrero Rocher chocolates in one minute live on TV2 Denmark's Go' aften Danmark.[4] On April 11, 2009, James Boyd tried to beat that record during the Ferrero Rocher Eating Contest on Britain's Got Talent but failed, eating only four in one minute.[5

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