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Someone educate me on Gold Coins

Old 11-09-2010, 03:06 PM
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Default Someone educate me on Gold Coins

Hello all
Just been watching gold coins and was thinking of buying a few, However wanted to know how much the price is when selling ? I see the daily price
however I know the sell price has to be different with some sort of Margin built in.
All the gold places sound like slick high pressure sales people.

Any insight into this matter would greatly appreciated

Coconut ;?
Old 11-09-2010, 03:08 PM
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a buddy bought some years ago. then he tried to sell them. he found out too late it was very difficult to sell gold coins.

before you buy find out what it takes to sell them later. if what my friend ran into is normal, you do not want gold coins as an investment.
Old 11-09-2010, 03:27 PM
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Not really the time to buy gold is it? What with record high prices and all?
Old 11-09-2010, 03:34 PM
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I personally feel gold and silver to be good investments. Unfortunately, there are buy and sell prices that make the profit margin for the dealers. I know the few I bought from the mint over the years traded quite well many years later. I just had to spend some time on the phone to get my best deal. Unsure right now about the direction the price may be going. As long as the fed keeps printing useless dollars, gold will go up...
Old 11-09-2010, 03:43 PM
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apmex shows the buy and sell price
Old 11-09-2010, 03:46 PM
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Gld
Old 11-09-2010, 04:05 PM
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Check these 2 stocks:



Opgsx

nem
Old 11-09-2010, 04:06 PM
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Originally Posted by littletunny View Post
Gld
Remember buy low sell high. I bought GLD in 08. I personally don't think there is much more upside in gold but I could be wrong. I like the stock market and it likes me too...
Old 11-09-2010, 04:28 PM
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There's a big difference between coins and "proofs."

Coins are money issued by a government mint, or a mint contracted by a government for this purpose. If the government authorizing these coins still exists you can generally turn these items in to that government for the currency in use today. (I am avoiding several long exceptions and expansions on that!) Values on these can be estimated by comparison to sales of similiar pieces.

Proofs are technically pre-production versions of coins, medals, medallions or other artifacts and are made for demonstration and display purposes. Proofs of coins will not show a monetary valuation so can be made by anybody and are normally only worth the value of the metal they are made of. "Commemorative Medalions" are similar to proofs.

The issuing mint can issue as many as they want or as few as they want. Value can increase if the art work is good or by a noted artist, if the volume of issued items is actually low and if they depict an event of continuing interest to the public or subject collectors.

There are several private mints that produce huge runs of proofs and medallions. A major marketing tool is to use an "order by" deadline so consumers think they are purchasing a limited run item. In actuality the mint will make as many as are orderred. These are terrible investments because they will only be worth their metal value and that is usually only a fraction ofthe price paid. By the time the metals market went up enough to make a profit on paper, you could have made more with a CD.

You might be able to get a good price on old proofs at a pawn shop. Then you will have some indestructible investment to use in an emergency.

That's all I remember fron an episode of "60 Minutes" I watched many years ago. It's been said that "Gold, guns and God made this country great." I'd include some canned goods in your portfolio too.

Good luck!
Old 11-09-2010, 04:33 PM
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call Don

www.coloradogold.com

fair and square dealer


Rare coins?
or Gold Coins ?
Old 11-09-2010, 04:49 PM
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http://www.dailyfinance.com/story/in...urst/19708093/

But you can buy gold from the U.S. Mint directly.
Old 11-09-2010, 07:06 PM
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Go to Swiss America.com best source for gold info. and gold coins. Twenty dollar gold pieces are a great investment.
Old 11-09-2010, 07:50 PM
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gsaauctions will sell gold coins occasionally. They sell for the price of gold, with no premium given to the coins, dates, hertitage, etc.

joke on myself.....5 years ago I wanted to buy 1000 gold coins for $400,000 and the bank turned down the loan application...even with 25% down and the GOLD as collateral. Today I would have been $1MM richer...but bank didn't like the collateral. go figure.
Old 11-09-2010, 09:35 PM
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My firm just started marketing a precious metal accumulation product where you can purchase "units" of gold/Silver/Platinum/Palladium at spot prices plus a 3% commission which is much less than a coin. You can set up monthly withdraws and they store the physical product and you can take actual delivery of the product if you have $25,000 or more.

The problem with the GLD ETF is there is really no gold behind the value of your investment.

http://www.pfgpreciousmetals.com/coi...D-B2B3CEDAFBF6
Old 11-10-2010, 06:42 AM
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Originally Posted by bjm9818 View Post
My firm just started marketing a precious metal accumulation product [/URL]
Another sign precious metals will drop in value. When everyone is promoting and selling a metal as an investment then price has nothing to do with supply and demand. Price is driven by speculators and when the speculation stops the price has to drop.

Oh, why is buying gold different from buying oil? I have seen a lot of THT posts complaining about how oil prices are manipulated. Have not seen anyone complaining the cost of a gold necklace went up. What gives? Same thing.
Old 11-10-2010, 07:51 AM
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kitco.com
Old 11-10-2010, 08:27 AM
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Originally Posted by Pierless View Post
...why is buying gold different from buying oil? I have seen a lot of THT posts complaining about how oil prices are manipulated. Have not seen anyone complaining the cost of a gold necklace went up. What gives? Same thing.
Perhaps. I often think I've been pouring gold into my boat.

While it may be true that you could fish from a pier or the beach, and walk or bicycle to work, you don't have any NEED for a necklace. Gold has no real value, except in the mind of the accumulator who believes it will be able to be sold to someone who is willing to pay more for it.

YMMV
Old 11-10-2010, 01:25 PM
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Originally Posted by t3rockhall View Post
Perhaps. I often think I've been pouring gold into my boat.

While it may be true that you could fish from a pier or the beach, and walk or bicycle to work, you don't have any NEED for a necklace. Gold has no real value, except in the mind of the accumulator who believes it will be able to be sold to someone who is willing to pay more for it.

YMMV
gold has no real value ? Is that what you just said ?


5000 years of history says otherwise


http://www.martinarmstrong.org/files...0-11-11-09.pdf


last paragraph page 13

Last edited by nat; 11-10-2010 at 02:06 PM.
Old 11-10-2010, 05:21 PM
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Originally Posted by nat View Post
gold has no real value ? Is that what you just said ?
Beauty is in the mind of the beholder. Really, what can you do with gold, except look at it? It's no better "investment" than a Van Gogh or a Ming Vase. It's only worth what someone else will pay for it. You can't eat it or fill your car with it or much else. But hey, buy what you like. I probably won't do too well on my portfolio or houses, either, after the nukes fall.
Old 11-10-2010, 06:43 PM
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Gold is an excellent means of storing wealth and transfering it generation to generation. The best deal in bullion is to buy bars with serial numbers and in an assay card such as those from credit suisse and others. these can be found on the apmex and other websites.
I think that some of the current price of gold represents speculation, maybe 200-400 of it. I personally believe that we will never again see gold anything close to 1000/oz or silver less than 14-15 per oz.

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