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Gold Price falling - but don't panic PDF Print E-mail

As all the 'I told you so' investment experts jump up gleefully to shout about the latest drop of $40 in the spot price of gold, here is some commentary which emphasizes, as I do, the long term view of our gold investment.

In the long run, the data indicates that gold is a good metal to own, with numismatic coins with bullion content inevitably doing well too.

It may be the unpredictability of the price of gold, not only from day to day but from hour to hour, which makes some analysts nervous of gold ownership. If that is the case, then they shouldn't buy it and leave more for us....

Cash for your gold is a ripoff, says a little man PDF Print E-mail

Here is a report from a littlle green man with a large green hat about how he was ripped off by a cash for gold company and what he did about it. His revenge seems to have been spectacular. This all looks like it has taken place in England, or possibly in Ireland or somewhere similar.

Though most of the stories on that site seem to be hard to believe, there may be a grain of truth in what the leprechaun says. You don't want to call someone like that a liar, anyway. He's a fellow gold collector.

How to avoid ever buying fake gold coins or bars PDF Print E-mail

Here is an excellent quick and short guide on how to avoid buying fake gold coins and fake gold bars, with some background on the recent scare stories about counterfeit coins sourced from China. By the way, never bite a gold coin to test it - you'll either ruin the coin or break your teeth...

It's good to read that fake bullion gold Eagles and fake gold Maples, at least, are extremely rare; but as for historical gold coins of very high value, fakes are more likely, since there is such a great potential profit over and above the gold value for the counterfeiters.

In dealing with the subject of fake gold bars, the author also gives the best informed account I've read about why the recent 'fake gold bars made of tungsten' story is an urban myth.

Precious metal ETFs and the price of gold PDF Print E-mail

Those who like gold as an investment, but don't like to own gold coins or bullion (strange people), have been buying gold ETFs, which are backed by physical gold. If you are vague about what gold ETFs actually are, see this page.

These gold exchange-traded funds have been very popular; so popular as a concept and as an investment that they are about to have competition in the form of new palladium and platinum ETFs.

You can already buy platinum and palladium bullion coins of course if you prefer, but they just look like silver to me!

The new ETFs have made gold investors worried: those who would otherwise have bought gold will now perhaps be attracted to the new investments, neglecting gold and driving the price down.

Am I worried? No. I have a theory that those who like to own gold coins and those who would buy ETFs of any kind are very different types of investors.  The demand for physical gold, and particularly beautiful gold coins will never go away, so the market will always be there. 

US Mint now supplying 2010 Eagles PDF Print E-mail

This site is reporting that the US Mint, later in the year than than usual, is now offering the 2010 1-ounce gold eagles for sale to its authorized purchasers (who can then onsell to dealers or to the public).

Ironically this is happening just as the price of gold has taken a big tumble.

As the Mint has over $50 million worth of last year's 2009 gold eagles left in stock, the Authorized purchasers will have to take some of those off their hands too when they buy the new ones.

So do the large supplies and falling gold prices mean bargains for the end consumers, you and I? Don't bet on it.


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