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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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.