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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: isopatch who wrote (90973)5/17/2001 11:05:12 AM
From: jim black  Read Replies (1) of 95453
 
Iso, in response to your observation about gems I venture the following caveat for those maybe less informed than you. Modern gem technology has made the purchase of rubies, sapphires and emeralds exceedingly hazardous.
The synthetic stuff is getting so good that it takes a major gem lab to tell the difference between a fine
specimen dug from the ground in Sri Lanka and one grown in US firm like Ramaura or Chatham.
Ramaura has even gone so far as adding a labelling contaminant to help gemologists verify a given specimen is
lab grown. Actually from a scientific and objective point of view a lab grown specimen of all three of these gems
can easily be superior, but it is the irrational factor of being "natural" that detemines price. AND I know from personal experience it can be next to impossible to get a return on your money when you choose to sell. During the
70's inflation I became a quick study in rare coins but there it is a MUST to know whom you are dealing with
and know what you are doing. For example, some of the current bozos pushing "numismatic" US gold, e.g., US $20 gold double Eagles, dealers will not tell that many of these so-called rare coins were not melted in 1933
but rather shipped out of the country a couple of weeks ahead of Roosevelt's executive order prohibiting
private owndership of gold. So my advice to prospects is to stick with US coins both old and truly rare and of the very best catagory, MS-63 (official grading system for coins) or better. Still regret I did not take the advice of an old friend and professor in 1973 and fork over 35k for a US $4 gold Stella, went up to 500-600k in a matter
of less then a decade and priceless today.
Caveat Emptor
jim black
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