NEW GOLD VS. OLD GOLD

[Templar]

 WITH GOLD VALUES RISING DO YOU FEEL IT IS BETTER TO INVEST IN OLDER GOLD COINS INSTEAD OF NEWER GOLD PIECES AND BULLION?
  I REMEMBER SOMETIME BACK GOLD WENT TO $800+ AND THERE WAS THIS BIG RUSH TO BUY AND THEN ALMOST OVERNIGHT IT DROPPED BACK TO AROUND $300+---WELL SOME PEOPLE LOST THEIR SHIRTS BUY SELLING--AND AT LEAST THOSE WHO BOUGHT RARER GOLD COINS--THE PRICES DID NOT DROP MUCH AT ALL

               YOUR THOUGHTS PLEASE---THE TEMPLAR

[Nighthawk]

When I have money to buy gold (which is rare), I look at it as a long term investment. I'm not losing my shirt to nobody! If gold drops, then I just sit on it till it goes up again. I believe in "buy low, sell high" philosophy, but since most people are stupid, with the herd mentality they possess, they will ALWAYS "get in on a good thing, etc"...), pay top dollar for something and then lose their shirts when they are forced to sell at a lower price. STUPID!!! But I like bullion coins and collector (older U.S. & foreign) coins both.  

[scottishmoney]

The key in my strategy was to buy back a few years ago when it just started it's rise in the $490 range.  I have bought off and on ever since then, recently I bought a Mexican onza that I have wanted for awhile.

Old vs. New - The time to buy the old was back when gold was back in the $500-600 range, when say $20 Libs were being sold for 3% over spot.  Now they are selling for quite a bit more percentage wise, so your profits are at least watered if not eliminated.  I bought a bunch of Libs at that point, probably 40-50 of them if not more, and they were a very wise buy since they now go for a minimum of $1250 each.

[TwoShadows]

 When prices reach levels where we find them at this time it really doesn't matter whether its old or new gold. The world is gold crazy and willing to pay for it. The huge losses can be avoided by NOT buying while gold is at record prices. Everything tends to run in cycles so buying high is not a wise decision. Sooner or later the cycle must move forward and in golds current state that could be downward.
  If and when a downturn does come about the older classics, as I call them, will retain collector value which will, in most times, exceed the daily spot price of gold. I will point out that coin pricing did not keep up with the rising price of gold last year so local dealers did buy and sell at spot price as collector prices lagged far behind daily markets. I must assume, at this time, that market prices are again dictating gold prices rather than collector prices, unless the gold in question is high grade classic pieces? I mean its quite obvious a rare gold piece in high grade cannot be affected by the rise and fall of the daily spot price.
  We have an excellent asset here on this forum in Paint Your Wagon. I have never met anyone who tracks gold prices through the years like this man does. If he says buy, then buy! If he says wait, then by all means wait. Selling is up to the individual owner! He has put years into gold coins, the gold market and tracking both on a day by day basis. His forecasting is accurate, almost down to the day, as I have taken the time to monitor his advice over the past couple of years.
   I have said for years the safest bet in the world is precious metals but ONLY if you took possession of your investment. I am now seeing information advising folks to get their money out of 401Ks! I have been advising that for 5 years after realizing a 401k was dreamed up by buinsess men to eliminate pensions and retirement funds paid out by companies. The same money would fuel a dying stock market and end up in the pockets of those who did not want to continue to fund your pensions and retirment accounts. The losers would be the workers trying to fund their own retirement and that is exactly what has happened. The whole program is nothing more than a con job and it amazes me that workers are still jumping on this sinking ship? Herd mentalitiy at its best!

I am trying to get the young people I meet at work to invest in gold and silver but they just don't understand. They will ride the same ship their parents did as mom and dad can't teach that which they do not know! An individual can take charge of his/her own moniey or continue to pay someone else to lose it for you?

[Paint Your Wagon]

My mother and grandmother had goldcoins sewn in the waistband and hem of their dresses . My grandfather rented a car and driver and spend the war in the south of france . When I was 12 he started to give the double eagles to me for birthdays and newyear etc . They went from 8000 belgian franks to 32000 belgian francs when I sold all of them .I was like 20 years old at the time

When prices came down I invested every available frank in sovereigns and 10 florins and 20 fr belgians
and 20 frank suisse and 20 fr french and mexicans etc all carried by moneyexchangers and sold at melt

Since 1999 I have been building a strategy
South African shares and Canadian shares protected by an equal amount of gold coins .
The gold coins are half "investment" and half "collector" grade but the collector grade mostly have been
bought for close to melt . I have been doing this for 9 years now and even learned grading from my friend Frank who has been a coindealer . The only coins that are not to be had cheaply are old french kings
and Vicky shieldback sovereigns in Au or MS

This year I predicted the first high 3 months in advance and was only 3 days wrong .
I predicted the second high for 17 september and that was the exact day
I predict the third for 5 january 2010 (or slightly after ) and we will  see ( it is not finished there it probably only starts there)
but I got three 107 day cycles in a 12 candles = 11 months cycle

If you start from zero there are two possible solutions
One is go for small coins at melt : coins that are known by everybody ( here that are latin union coins like the 20 FF lucky angel ) Imagine if gold goes to 6000$ or more somebody else paying for it ; whence small coins . In the US that maybe quarter ounce eagles
The other is go for top quality ; the rich are only getting richer ; but remember MS65 plus is the minimum for current coins .( Anything after 1852 I call current ) 
Somebody on an investment forum bought 100 MS 63 American double eagles
When gold doubled he only made 20% because MS 63 is too low and the vendor and gold margins are too large .

However I believe that from 17 september on only goldmines that do not go broke will be the best investment . From now on goldmines should do 3 to 5 times better then gold itself percentwise .
I am wrapping up my coinbuying program because on the one hand no more high quality coins are offered at melt and on the other hand the time of the goldmines has come . So I am buying goldminers .

It may be 5 to 12 ( last opportunity ) to buy gold the next few weeks when there maybe a correction back to 1000 $. The same for goldminers .
I would say go for any goldcoin close to melt because I think that we are only two thirds of the way up
Once gold starts to move 50 dollar a day up or down and is above 1650 is it time to take stock and ponder actions

[TwoShadows]

My wife and I started buying gold and silver for our youngest son the first year of his life. We opened a savings account to place his gifted money from relatives and at the same time decided to invest in precious metals each time his account reached $1,000 as the bank was not paying him squat in interest. We followed suit with my wife's son (my stepson) in the next year. Usually I would pull $500 and go buy one tenth ounce bullion or an older classic if my dealer had anything on hand. In the last 7 years the little guy has amazed a nice collection of both gold and silver and is currently edging closer to that $1,000 in his savings account. With gold being at record levels I think a purchase of silver will be coming next! His last purchase of gold was a couple of months ago and it has already made him money! For what its worth the first tenth ounce pieces of gold bullion have risen 400 percent since their purchase in 2002 and 03.
I might add dear old Dad ALWAYS places another $5 in his account EVERY time I am in the bank doing business. I wish I had done that with my other children but can't help but wonder, now that they are adults, if they would have continued with such an investment or would have already sold the metal and blew the money? I tend to lean towards the latter!

This is my last child so I intend to do what I can for him in the time that I have left in this world. I started out, after graduating from high school, with absolutely nothing and I find great pleasure when I say, after all these years, I still have 90 percent of it!!!

[Paint Your Wagon]

I think in dollar denominations gold is going to go ballistic 3000-9000 depending upon how
much dollar paper is printed
So putting all in gold is not a bad idea in my view
I still have a hope the euro will be better but it is only hope which I am hedging absolutely
In the meantime it is lobster and champaign to be able to say I lived in my last days

[TwoShadows]

Well I say you can't take it with you so, you earned it, now enjoy it!!!

[Yass]

I started out, after graduating from high school, with absolutely nothing and I find great pleasure when I say, after all these years, I still have 90 percent of it!!!

I started out with nothing and, after all these years, still have 100% of nothing! ROFLMA