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Old 01-01-2014, 02:56 PM   #21
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But seriously folks life's been good to me so far
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Old 01-01-2014, 02:58 PM   #22
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A bullion coin will cost near $100 over spot price. Buy GLD & get near spot price.
Unless of course it's less.
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Old 01-01-2014, 02:59 PM   #23
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The Government of Canada is planning to sell some of its century old gold coins (for more than their weight in gold) so perhaps the price will fall further.

Bank of Canada

I have some gold and silver certificates in my portfolio but together they make up ~1.5% of my NW. I bought them as insurance in 2008 and they are still worth more than I paid for them. There is an inverse relationship between gold and the stock market, so I am not in the least surprised at gold's recent behavior.
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Old 01-01-2014, 03:44 PM   #24
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I have a few stories: 1) In 1980 FIL bought about $800 in newly minted foreign silver coins. It appears that today they have a melt value of about $300. Yes raw silver has appreciated more than this but these were coins sold by a dealer at a premium from the melt value. 2) My coin collection that I put together in the 60's has about the same value as then, except for silver which has melt value. 3) It appears that top of the line coins have increased in value such as mint 1909-S VDB penny. Or 100 year old proof sets. 40 year old ones are worth less than the Mint sold them for. 4) Coins are like jewelry. In theory they could go up but a dealer will never buy at more than 50% of FMV. If you are buying coins for melt value, you should understand that the most you will see is 90% of the price of the commodity. If silver is $20, you will only get $18.
Some online dealers will pay spot to over spot for silver. Americans Eagles probably $2 over spot.
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Old 01-01-2014, 04:19 PM   #25
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I have a little GLD, hand full of gold, silver currency(all collected for face value), couple 1909 vdbs, one found not long ago going through change.

My other pm is lead.

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Old 01-01-2014, 05:08 PM   #26
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When you put those gold coins in your hand - it just feels like you have real money. I cant quite describe it. Much different than paper bills or figures in an account statement.
I feel similar about being in the woods with a rifle or shotgun in hand and a hunting license in my back pocket. Different strokes.
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Old 01-01-2014, 07:56 PM   #27
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Kind of like Beanie Babies or condos to me. Can't eat it either. Great as long as someone else wants it.
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Old 01-01-2014, 10:06 PM   #28
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Kind of like Beanie Babies or condos to me. Can't eat it either. Great as long as someone else wants it.
And gold has been wanted by people for how long?
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Old 01-01-2014, 10:11 PM   #29
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Kind of like Beanie Babies or condos to me. Can't eat it either. Great as long as someone else wants it.
I guess diamonds and other precious stones are like that too? Oh, stock certificates are in that arena also.
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Old 01-01-2014, 10:13 PM   #30
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And gold has been wanted by people for how long?
only a few thousand years, just a fad I guess
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Old 01-01-2014, 10:28 PM   #31
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As the sentiment of the posts on this thread suggests, the shoeshine boy apparently isn't getting into precious metals these days. (Remember when he was buying to-be-built Miami condos sight-unseen back in 2006, with the "20% down" being a 2nd mortgage?)
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Old 01-02-2014, 08:55 AM   #32
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I bought 20 1oz Eagles in 2003 and some silver (have about 200oz total including my 90% and 40% silver percent coins collected as a kid ( silver % factored in to go with straight meltdown value) when prices were low. All bought in in less that $5K purchase to keep it off the books so to speak. Glad I did, wish I had bought a little more at that time.

Staying away from it now. Haven't bought or sold any since. I have no PM paper/funds. Just letting what I have ride with no near term plan to buy/sell. It is a only couple of percent my portfolio (obviously less of a % now that at the beginning of the 2013). If gold/silver somehow drops back to $500's/~$12 may reconsider a purchasing. If it somehow goes up to the $2000+/$45 range in the near term, may consider selling.

Since it is not a significant % of my portfolio, I tend not to pay as much attention to it as I probably should.
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Old 01-02-2014, 09:08 AM   #33
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Stocks are different. I don't need someone else to want my stocks for them to have value to me. The dividends come regardless of whether anyone wants to buy my stocks.

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I guess diamonds and other precious stones are like that too? Oh, stock certificates are in that arena also.
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Old 01-02-2014, 09:16 AM   #34
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Stocks are different. I don't need someone else to want my stocks for them to have value to me. The dividends come regardless of whether anyone wants to buy my stocks.
IF they pay dividends.....but you can eat a stock certificate...so I guess I was partly wrong.
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Old 01-02-2014, 09:39 AM   #35
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Dividends can always be cut. Also, some big stocks like BRK don't even pay dividends.
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Old 01-02-2014, 02:19 PM   #36
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I wasn't saying that stocks were risk free, just that they have some value independent of having someone else willing to buy them.

If you buy an ounce of gold, 40 years from now you will still have an ounce of gold and nothing more.

If you buy an income producing asset, you are likely to have quite a bit more than you started with in 40 years, if things go reasonably well.

That is a fundamental difference between gold and stocks as an investment.



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Dividends can always be cut. Also, some big stocks like BRK don't even pay dividends.
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Old 01-02-2014, 03:16 PM   #37
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I wasn't saying that stocks were risk free, just that they have some value independent of having someone else willing to buy them. If you buy an ounce of gold, 40 years from now you will still have an ounce of gold and nothing more. If you buy an income producing asset, you are likely to have quite a bit more than you started with in 40 years, if things go reasonably well. That is a fundamental difference between gold and stocks as an investment.
That ounce of gold looks the same but has increased from about $32 to over $1200 in those 40 years.
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Old 01-02-2014, 04:49 PM   #38
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If I went long on gold, with my luck, next year someone would announce cheap nucleosynthesis, or Planetary Resources would announce the scheduled delivery of 10 million tons of gold FOB low Earth orbit.

It's a commodity useful as a fluctuating store of value. Doesn't pay dividends or interest, or expand its market and grow.
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Old 01-02-2014, 04:54 PM   #39
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If I went long on gold, with my luck, next year someone would announce cheap nucleosynthesis, or Planetary Resources would announce the scheduled delivery of 10 million tons of gold FOB low Earth orbit.

It's a commodity useful as a fluctuating store of value. Doesn't pay dividends or interest, or expand its market and grow.
My wife likes gold, diamonds too.
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Old 01-02-2014, 05:10 PM   #40
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My wife likes gold, diamonds too.
Probably the best personal investment ever.
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