from the Dec. 17 Numismatic News E-Newsletter
Gold and silver prices are falling. Are you worried about the drop in value? Why or why not?
I am not concerned about the price of gold or silver. The gold bugs have been hawking the imminent collapse of the dollar for at least the last 10 years. Then the silver hoarders have been advertising the imminent doubling of the price in the next year. Not going to happen. There is more than enough silver to satisfy the demand, and gold has not moved significantly in years. It goes up and then comes down. I buy gold coins because they are beautiful. That’s the same reason I buy silver coins. If I were concerned about the base value of the metal, I would buy gold or silver bars and not bother to pay for the overhead in minting a coin.
Hi, folks. I’m not like your usual investors. I am 91 years young – still vertical and working 24/7 – a personal property appraiser and bachelor after losing my wife three years ago. I have an 11-year-old granddaughter losing her eyesight. We learned about this when she was 3, and since then virtually all of my “surplus” monies have gone into gold and silver that I am privileged to be able purchase from local estates. I am a “spot” price buyer and have accumulated a nice little nest egg (ostrich) that I will not be around to cash in. My wonderful daughter-in-law will be the recipient of this little bit of savings to assist my granddaughter later in life. Let the “bulls and bears” fight it out on Wall Street – I’m in it for the long haul! Love that silver, especially coins. I have even purchased some with numismatic appreciation (a bonus). Thanks to the info I get on the KITCO site. Hard money! That’s where it’s at!
Losing money in silver is never a good thing. Ask Donald Trump.
I am not worried about it, I am just more surprised that it is dropping because everything in the economy does not make sense right now. I believe silver will go back up along with gold. I believe people will take silver coins at more value if it comes down to something then they will take U.S. currency at this time.
I do not worry at all. Historically, gold and silver have been a store of value for thousands of years and will continue to be so. With the future development of many new technological products as well as demand from developing countries, it will exceed what is available.
Not worried. The value of gold and silver has always fluctuated.
I’m not worried. The 5,000-year history tells me it’s a good inflation play.
Let me retort to this poll question with something taught by the late Chuck White, once quite active in the Livermore Valley (California) Coin Club and sharp as to numbers and numismatic investing. I asked him once what he thought precious metals might do with the market. Chuck smiled and replied that the legendary Warren Buffet was asked something about the stock market and supposed secret to investing. Mr. Buffet answered, “the market fluctuates.”
That is my comment. If you have been investing or involved with precious metals, and I have since the mid 1980s, some days are on the run up and some days, and even some months at a time, are on the down slope. You have to ride the roller coaster and accept it. You need to acknowledge and burden that today’s prices will not be tomorrow’s prices. Yet, in the span of years and decades, over all the return will be generated.
Of course, remember precious metals are a hedge and security in any time, particularly now that your Amazon order is in a sealed container on a freighter waiting for docking and then drayage plus gasoline advances to $5 a gallon. Maybe gasoline could be a better investment.
Michael S. Turrini