From the Feb. 3 Numismatic News E-Newsletter:
Do you plan to buy gold in 2017?
Here are some answers sent from our e-newsletter readers to Editor Dave Harper.
Will I buy gold in 2017? Yes! Will it be in 5-10 ounce purchases? No! I will continue to add to my modern U.S. commemorative $5 collection. (I did enjoy the Mark Twain $5s in 2016 but couldn’t afford the “classic” remakes.) I will keep an eye out for good deals in gold buying. Also, the German “aureus magnus” series will keep me on the lookout.
Coach D. Jennings
Probably. Depends on the market.
I laugh at the experts who put gold down as an asset. They count on the ignorance of the public as a whole. Our $20 trillion debt is incomprehensible, but if you could stack crisp, $100 bills into the sky, a trillion dollars worth would go 754 miles into space, making our total debt a pile that would be more than 15,000 miles high. Get a grip on that fact. Then tell me once again how pieces of paper, $100 bills, that cost about 7 to 8 cents each to print, are worth more than a commodity that is scarce, hard to find, hard to mine and lasts forever is somehow worthless. Sooner or later the interest on this debt will quickly rise to the point that it consumes every dollar of our yearly GDP. I have no idea when this might happen, but it will. I dread the day. It will lead to incredible hardships on all the world, but you cannot just print dollars to this extent and still tell me that money earned in the past buys what it once did. It does not, and most working-class people already know we are being lied to.
I think I will likely buy gold in 2017. It is still worth more than the 8-cents $100 bills our government loves to print.
It depends greatly on the price. If gold goes down, I may buy some coins that fit into my collecting specialties.
Even if it goes up some, if a country issues a new gold coin with a design I find really appealing, I’ll buy it.
I don’t expect to buy gold as an investment. The last time I did that, gold was under $300 an ounce, so I felt reasonably certain it was undervalued.
Right now, gold is significantly more expensive than platinum. Platinum is much rarer and has more industrial uses than gold, so this implies to me that gold is overvalued. The problem with gold is that its market is self-correlated. It is perceived as valuable because its price is high, and as a good investment because it went up in the past. That’s how bubbles form.
The only gold I will buy in 2017 will be the 2017 American Liberty 225th Anniversary gold coin from the Mint.
Donald L Hill
Yes…I intend to buy as much gold as I can…I am considering selling everything I own and then spend the money on gold. Hopefully I can apply to the government and get free food…free housing…free medical…free cell phone…and everything else free…from the government.
Colorado Springs, Colo.
No, nor silver.
Yes I plan to purchase two of the Buffalo one-ounce gold coins as I have every year.
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