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Thread: Sold 1/2 my gold today

  1. #1

    Join Date
    Feb 2011
    Location
    America
    Posts
    196

    Default Sold 1/2 my gold today

    That title sure makes it sound good don't it.

    In 1997, right out of college, in debt, just married and just starting out in a job, I bought 4 pieces of gold. Small pieces. A 1910 2.5 dollar American gold coin, a 1997 Commemorative 5 dollar gold coin, a 1945 2 1/2 Pesos Mexican gold coin and a 1/10 oz Krugerrand.

    Gold was about $340/oz. I bought the Krugerrand for $38 and the 2 1/2 pesos for $26. There is actually about 8 hours left on ebay for my items but as of right now the Krugerrand is at $185 and the Pesos is at $105. So for holding these for 14 years I will make an annual profit of between 11% and 12.5%.

    I'm holding off selling the 1997 commemorative gold coin but I have seen it listed at $450. I paid $100.

    All I can say is that in 12-15 years I will be buying more gold. No. seriously. About that time I'll be about 55. About 12-15 years from then the gold market should spike again. This time though I'll be investing a lot more into gold.
    Ended 2011 with 4.3%. Well, at least it was positive.


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  3. #2

    Default Re: Sold 1/2 my gold today

    Nice investments! In the late 90's I was telling a co-worker that gold is not an investment. It's a safety net. So much for that thinking. He bought some coins - I didn't.

    There is a lady on CNBC as I write this predicting $5200 gold by 2018.
    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.

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  5. #3

    Default Re: Sold 1/2 my gold today

    Quote Originally Posted by tsptalk View Post
    Nice investments! In the late 90's I was telling a co-worker that gold is not an investment. It's a safety net. So much for that thinking. He bought some coins - I didn't.

    There is a lady on CNBC as I write this predicting $5200 gold by 2018.
    These kind of predictions usually happen during bubbles - do you think gold is a bubble waiting to burst?

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  7. #4

    Join Date
    Aug 2008
    Location
    Pensacola, FL
    Posts
    6,312

    Default Re: Sold 1/2 my gold today

    I am sure that if I invested in gold, we would see another major sell off!

  8.  
  9. #5

    Join Date
    Feb 2011
    Location
    America
    Posts
    196

    Default Re: Sold 1/2 my gold today

    I am fairly confident that this is the next bubble. When it bursts is anybodys guess though. Could it hit $5000? I dunno. What I do know is that unlike the dot-com bubble, there really is only so much ACTUAL gold out there. It is the paper gold I am more worried about bursting. But then again, I don't own any of that.
    Ended 2011 with 4.3%. Well, at least it was positive.

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  11. #6

    Join Date
    Sep 2004
    Location
    Surfing, USA
    Posts
    1,647

    Default Re: Sold 1/2 my gold today

    If you sold half, then you are half right. Whether gold goes up or down, you will be half right.
    A distribution of monkeys throwing darts to choose their allocations would likely have produced a higher performer ...-Desperado ... My Account & My Account Talk

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  13. #7

    Default Re: Sold 1/2 my gold today

    Tonight, Gold is at $1915! I'm seriously thinking of selling some of mine and buying that new car.

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