From the Feb. 27 Numismatic News E-Newsletter:
Q. Will you buy gold coins as an investment in 2009?
Here are some answers sent from our e-newsletter readers to Editor Dave Harper.
No, I do not buy gold coins for investment. (I’m a 68-year-old Air Force retiree with limited income, so I only buy coins that I enjoy collecting.) I will buy the silver Eagle coins to keep my collection up to date.
John R. Ezell
It seems to me other than burying what ever cash you still have in your 401K, which is less then half what I has last year, you need to consider buying gold or even silver, which may be even better than gold at this stage of the game.
And how very questionable the government is on their non-stimulus buying spree, I believe we need to be very careful in how we react.
The bottom line, yes, David, I am buying gold and silver.
I probably would if I could afford it. I can’t see dipping into savings to buy gold as an investment. The market is too volatile.
Chicago Heights, Ill.
Several years ago I decided to concentrate my coin-buying activities on gold (mostly classic U.S. issues) and key coins. As an inveterate coin collector/investor/dealer, I haven’t actually been able to limit my buying to those two areas, but I still buy U.S. gold coins when I think they’re a good deal (low mintage, priced below “wholesale”).
Also, I ordered one of the Ultra High Relief coins and am waiting for that. So, will I continue to buy gold this year? Yes, but only numismatic gold, not just bullion issues or gold stocks or anything like that.
Yes, I will buy gold and silver as my budget allows, because this worthless paper money we are using will just keep driving up inflation.
I have been buying as much gold and silver as I can afford for a couple of years now.
I cannot afford to buy gold, but I am hoarding all the silver coins, mostly Kennedys, I can get in my hands.
David L. Kell,
I’m going to try and buy some gold if I can swing it. I’ve been buying silver because you can buy in smaller amounts of money.
It would seem a very wise move to invest [if you can afford to anymore] in these commodities. My query is more focused on the silver sector. Am I doing the right move here to buy as much silver coin and bullion as my limited income will allow me?
Some of us out here cannot afford to invest in the yellow metal and now must restrict our endeavors to silver coins and bullion. Yes, I am definitely an advocate of BUY! BUY! BUY!!!
But, is silver good enough?
San Bernadino, Calif.
Only if it goes down below $800 an ounce.
I plan to buy the $20 UHR soon if the Mint doesn’t price it too high. Maybe some older pieces, depending on bullion price.
NO, I AM NOT PLANNING ON INVESTING IN GOLD IN THE NEAR FUTURE. THINK. BUY ONE OUNCE OF GOLD FOR $1000.00. IF IT TAKES 6 MONTHS FOR THE PRICE OF GOLD TO INCREASE TO LET SAY $1500. YOU ONLY MADE A GAIN OF $500. NOT BADS FOR 6 MONTHS. HOW MANY OUNCES OF GOLD DO YOU BUY TO MAKE IT WORTHWHILE? THIS GAIN OF $500 IN 6 MONTHS MAY NOT EVEN MAKE A ONE MONTH HOUSE PAYMENT FOR SOME PEOPLE. I THINK IF YOU PLAN ON DOING THIS FOR RETIREMENT AND ARE YOUNG IT MIGHT BE WORTH IT OVER THE LONG HAUL. IF YOU ARE UP IN THE YEARS IT MAY TAKE AWHILE FOR YOUR INVESTMENT TO PAY OFF.
THOMAS F. OPALKA
Hi Dave, I think its a little late to buy gold now, but I will get back to buying some, when the market comes back down.
I won’t be buying gold coins this year as an investment. When the world financial systems collapse in 2012, it will be better to own silver & rare coins. As an emergency measure, gold will be confiscated & made illegal to own. It’s less likely this will be applied to silver holdings.
Edmonton, Alberta Canada
In the past I have made gold purchases for Numismatic purposes alone, but with this Administration spending us into Hyper inflation at some point, I will be making Gold a bigger part of this years stategy on pull backs such as we have seen this week. I see no way to avoid much higher inflation, a weakening dollar and much higher oil in the future. Dwayne Helmuth Temecula, Ca.
I believe i will buy gold coins, but probably not from the U.S. mint, because the premium they are now charge has become ridiculous.Adjusting prices to the market fluxuations are fine, but it seems like the mark up has increased at a percentage far exceeding that.I will concentrate more on bullion or certified coins.
Hello Mr. Harper, yes i am buying gold.We are in economic times like the depression years in the 30s.I read your predictions on gold and silver and couldnt disagree with you more. Like you have been following gold and silver since the late 60s and never have seen econmic woes which all Americans face now.I hope your predictions are right but this time sir believe you are way way off.
I do not plan to purchase gold in any form for the foreseeable future.
This decision also applies to other precious metal coins.
I will buy gold this year, but concerning the UHR gold coin for 2009...I was able to order in the frist hour,but some how my order got lost. I will not pay the increased price....it’s not that important. BUT!, I am increasingly losing respect for the US Mint and its services.
I doubt I’ll buy any generic gold coins, but if I see a better date for a good price, I may snap it up. You have to snap those up right away!
P.S. I saw a new 2009 cent Tues, at the coin shop, but not in change. As of 2/27, no 2009 coins in change.