ok Bob, you gotta go slow and easy with me here on my questions.
First, when is a coin not money?
I ask this because I'm confused with these pure gold coins
that many nations have and continue to mint and sell at the
present days price of gold plus a few dollars for labor.
If price of gold today is US$269
then is a solid gold Canadian 1 oz for example
about US$269 plus 5 to 10 dollars?
No sure, but these are not real money coins I think,
as on the coins surface is not a currency value
that paper money has.
If I remember what I saw on those web sites that you
and others have mentioned, that the same cost for these
solid gold pieces can be obtained in either a coin version
with each nation having a nice picture stamped on it,
or you can simply get it in an ingot.
All will say something like 99.99% pure 1 oz.
To call these chunks of physical gold as coins causes
me to get confused, since why should I pay an extra cost
when I can get the fiat paper "coin" at face value.
To me they should not call them coins even if they look like
those long ago Roman Empire gold coins that were used as money,
but should say that they are blobs of melted physical gold
that represent a store of value in worst of times,
and high speculation in best of times.
I'm gonna write my Congressperson and recommend that
it be illegal to make physical gold look like coins
since it confuses too many folks as they see all those
people with the punny sounding name hobby saying that
this little gone thru hell gold coin is worth a million.
My recommendation to echo longone's fight to have every
Joe Tom Sue and Mary buy physical gold just like they would
buy shares in IBM or GE. Buy physical gold in 1/10 ounces
will look like buying a share in a good-as-gold company
for about US$29 a "share" via a broker like E*Trade online
of have it included in mutual funds just like its a company.
Not sure, but the e-gold money web site that lets people
pay for things using the physical gold they hold, I forget
if they also can sell you the physical gold?
Imagine if a gold producer like Barrick had on their web site
a way to purchase directly from them their mined physical gold
with the understanding that it will exist and not be "shorted"
or loaned out or in-name-paper-only. a.k.a. non fungible
ok Bob let get down and dirty and get real,
is physical gold NOW a good safe investment.
I'm not talking shares in gold producers,
but owning that real stuff gold
and paying a warehouse to store it for me
and ok in a fungible manner just so that
they no act like a bank and lend any out
and only have a fraction on hand.
Guess I'm thinking that for example I do like this person...
To: Rarebird who wrote (61623)
From: Dave kilty
Saturday, December 2, 2000
Say you hypothetically had $100K you wanted to invest
in gold and or gold stocks;
how would you divide it up?TIA Dave
... and I do it all in physical gold
and do not care if it exist in solid liquid or gas,
and do not care if it exist as part of a whole piece
as in my 23 pounds of gold lives in that storage place
always and always.
Now Bob, if I did this 11 months ago, last Janurary,
would I have made a good investment?
"Since January 2000 the Dow is down 9%,
the NASDAQ is down over 45%...
and gold bullion has done virtually nothing."
"In fact, the only niche of the gold market
that has shown consistent growth
over the last 20 months
is the small area that Swiss America
has been recommending -
U.S. Gold Commemorative coins -
which are now up as much as 86%!" END.
Good Golly, 86% of $100,000 minus storage costs... :o)))))
doug |
