SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Gold Price Monitor
GDXJ 109.28+3.8%Nov 28 4:00 PM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Enigma who wrote (40073)9/6/1999 12:28:00 PM
From: Hawkmoon  Read Replies (4) of 116790
 
DoubleD,

I guess you don't know how to look at a chart.

It is obvious from looking at that chart that gold coins have risen in value over the past two years (nobody worried about Y2K in 1994-5 apparently). That chart reflects an increase in value for rare coins since 1995.

But I was referring to other coins like the Gold Eagle 1/10 ounce selling at $30 (or $303/ounce equivalent). It makes a great deal of sense to convert buillion into these smaller denominated coins as the profit margin is so great.

Demand for these coins is high because some people predict they will have value should the world be thrust into recession by Y2K disruptions.

But recessions result in lower consumer demand, and hence lower prices for commodities (like gold), and a hoarding of cash as people fear for their jobs.

The only way gold will have value in a Y2K disrupted world is if it results in a financial meltdown and illiquidity of the banks (which is always a possibility if Americans panic and take all of their money out of the banks faster than foreigners deposit is in OUR banks out of fear of their own).

But once things settle down and people realize the banks are still standing (or most of them), they will cash in the gold enmasse and convert back to dollars.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News