Question for Gold Bugs

[RIDE]

.....<snip>.....
So I am really looking for coins that can take some handling abuse (so crown or coin metal). But I don't want to get anything with any numismatic value because then I would feel that I couldn't play with them for fear of lowering their value with my playing with them.....<snip>.....

For what you are looking for, I would highly recommend the pre-1933 gold coins. Something like what's found in these links:
http://www.providentmetals.com/20-li...d-cleaned.html
or
http://www.apmex.com/product/9119/20...-eagle-cleaned

The great part about these, is they are over 100 years old, .9675 pure gold so they are highly durable, highly highly, they are 100+ years old and still look fantastic. So you can handle these all day long, flip them to hear the ring, etc etc. No numismatic value, so no worries about handling.

Pretty cool to think that these were with $20 and used as currency 100 years ago.

What I find interesting, is that this same $20 Gold coin back in the early 1900's would have bought you a night in a high-end hotel, and high end dinner out, and a high end play.

100 years later and the value of the very same coin remains, and would buy you the exact same stuff.

[rjacobs]

West TN. Not that far from you.

The guy I linked you to is in Memphis(or just outside of Memphis) and is a dealer. His prices, from what I can tell are very good. I want to say you all dont pay sales tax, at least I dont think so.

[Crow Hunter]

Just looked at gold prices today.

Rory Clap Batman.

Falling like a rock.

If anyone is like me and in the market to acquire some, it might be at 5 year lows in just a couple more weeks at this rate.

I have read that the break even point for mining is right around $1,100/oz. Less than $100 from that now. Of course, that was when the dollar was worth less and it seems to be really climbing against everything else right now. (Anticipation of a Republican controlled Legislature is my guess)

I have seen estimates of it getting down as low as $700-800/oz. Now is the time to be saving up some cash to jump on this buying opportunity.

Platinum has dropped even more. It is nearly on par with gold.

[punkey71]

I can't catch the falling knife. Im not even going to try.

Im going to keep buying silver eagles monthly until Gold is sub $1000 or the ratio is favorable to a silver>gold trade (55:1 and lower is what Im hoping for).

I think lower for both is in the the cards.

Silver at 14?
Gold at 900?

Perhaps. Im not that smart though. I'm DCAing all the way down. This is a long term play with a small portion of my portfolio (10-15%, eventually) as Im only in my early 40s now. I may use it in 30 years if needed, if not the kids get a nice stack of metals.

Im good with either and would actually much prefer the latter.

[The_War_Wagon]

Ye Olde Local Coin Shoppe.

Not only do you get your coins, you get to network locally with people who can HELP YOU locally, should the world all flush away in a handbasket. I'd be GLAD to give you a hand, as would most anybody on here... but we don't all LIVE next to you, like the local coin shoppe does.

You'll meet a LOTTA local folk, who are likewise wise about guns and self defense, and you will - without a DOUBT - meet the SMARTEST cross-section of people in your locale, at a local coin shoppe. I LOVE hanging out for a couple of hours, just to shoot the breeze with the owners and their customers - it's time WELL spent, and I always learn something new, useful, and interesting.

[Crow Hunter]

Just a heads up. Gold/Silver/Platinum are back down to their lowest levels in the last several years. Now might be a good time to buy if you are in the market. Of course, if you have my luck, if you buy now, it will go lower.

Unless you are in the market for Platinum. Forget it. You can't find it anywhere. Of course, considering it is actually selling for less than gold, people are probably buying it up.

[ralph]

It's interesting this thread came up.. I took the plunge and bought some ASE's yesterday. Local coin shop had ASE's on sale for $20 apiece. I bought 4 and with OH sales tax spent $85.40. Also went to another shop and bought a couple rounds for $18 I'm on a fixed income (retired) and I'm figuring on picking a few coins up every month. This way, I'm not setting out a lot of cash all at once, and, over time my little stash will grow. Myself, I just like the idea of having some real money around, as I have little faith in either the stock market, (world's largest casino, and at this point it time grossly overvalued) or the U.S. Gov'ts ability to manage it's finance's, because as we all know, and history backs this up. All Fiat currency's have FAILED. The U.S. is no different.

[nova3930]

Best prices and fastest service: http://www.apmex.com/

You will pay less of a premium (over spot) on older coins such as the English Sovereign ( http://www.apmex.com/category/16770/...overeign-coins ) or the Franc than you would let's say an American Gold Eagle or Canadian Maple Leaf.

Stay away from Monex or any of those you see advertise on TV.

I've used APMEX a lot. If you're just looking for metal value and not numismatic value, they have really good prices on "culls" and things like that. Middle of last year I bought some 1/4 ounce gold eagles with "abrasions" (which I couldn't find upon inspection) for like $10 over spot....

[Crow Hunter]

It's interesting this thread came up.. I took the plunge and bought some ASE's yesterday. Local coin shop had ASE's on sale for $20 apiece. I bought 4 and with OH sales tax spent $85.40. Also went to another shop and bought a couple rounds for $18 I'm on a fixed income (retired) and I'm figuring on picking a few coins up every month. This way, I'm not setting out a lot of cash all at once, and, over time my little stash will grow. Myself, I just like the idea of having some real money around, as I have little faith in either the stock market, (world's largest casino, and at this point it time grossly overvalued) or the U.S. Gov'ts ability to manage it's finance's, because as we all know, and history backs this up. All Fiat currency's have FAILED. The U.S. is no different.

You did really good.

The going rate right now at the online place that I follow is running $19.87 each for credit card and $19.11 for Wire/Check on ASEs.

I have been keeping an eye out on them and when they get below a target price, I plan on buying some.

Mine isn't because of any lack of faith in the stock market.

I just like the way it feels to hold in my grubby little hands.

I never understood until I held a gold coin in my hand last year. Now I find my hands itch.

I think that gold and sliver will go down some more because platinum is down so much lower than gold right now and platinum used to be called the "Rich Man's Gold" and I can't believe that there is a glut on the market for platinum.

I am nearly salivating over the prospect.

I really want to get a Gold Buffalo and a Kruggerand and a Mapleleaf.

If it gets down to $700-800 oz, they will be mine. Oh yes, they will be.

[rjacobs]

If it gets down to $700-800 oz, they will be mine. Oh yes, they will be.

I have been reading the high 1000 to low 1100 area is where cost of mining is right now. Now, I have no clue where these people get these numbers from so they may not be true.

If those numbers are true, I dont see gold going below them, people would simply stop mining and supply and demand would cause prices to come back up.

I would LOVE to see $5 silver and $700 gold again, but I personally dont see it happening due to production costs.