<<but what better way to do it than tank the price big time,>>. Of course, Marc, on Friday, the price of gold did not fall in Canada but went up - due to the price of the Loonie. I know, I bought some more and they get updates on the spot every 30 seconds. If we look at gold in other currencies, it has been rising. It's only dirt cheap for Americans. Not sure why they (Americans) aren't snapping it up at these firesale levels.
Here's an interesting thing about gold coins. In Canada if you buy Maple Leafs, there is not GST as they contain 24K gold. But American Eagles and Krugerands have 22K gold, so you have to pay 7% GST if you want to buy them. Also, gold coins are easier (than bars) to get across international borders as they are coins. Our Maple Leafs are stamped $50, so if Customs asks and you have 10 of them on you, you could declare $500. |
