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Gold Coins and Bullion - News and Discussion
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Hiding your buried stash from a metal detector |
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Thursday, 10 December 2009 17:24 |
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There is another current thread over at Kitco about how to hide your stash (assuming you have buried your coins), from a user of a metal detector. Avoiding the obvious questions of why you wouldn't use a safe or a bank vault, and why you would bury coins in a publicly-accessible location in the first place, many collectors of gold coins offer some really interesting advice on the thread. In effect, modern metal detectors are so sophisticated (they can be set to ignore ferrous metals) that any form of mixed burial (putting the coins inside or below a length of iron pipe for example) would probably not be effective. Nor would scattering steel nails all around the area to confuse or frustrate the metal detectorist. Also, iron containers were traditionally used to store gold coins, so if the seeker suspects there is gold in the area.... bad luck for you. Some (maybe) useful suggestions include burying your stash 4-5 feet deep (out of range), putting it under a pond (can't be detected) or planting a fast growing tree on top of the hole. Another related issue is that if you make the gold coins so hard to find, will your family ever get the benefit of them if you die in an accident? eBay is filled with Roman coin stashes which were never recovered by their owners, but found recently by people using metal detectors. Hmmm. I'll keep mine in the bank vault for the moment...
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Wednesday, 09 December 2009 15:51 |
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More data is now being released showing that although gold exploration is increasing year by year, actual gold production and grade quality is declining year by year. If this is true, and if the projections charted here (Business Insider) are correct, then the price of gold to consumers and collectors will also inevitably rise year by year into the future. Probably the most interesting of the charts presented shows that the decline is a worldwide, not a national phenomenon - in other words, countries like the USA, South Africa and Australia which have traditionally fed the market with as much gold as it wanted can no longer do so, despite high exploration budgets. The analogy is with Peak Oil, but of course gold is different to oil in that it is not 'consumed' - most gold ever mined still exists, and is still available. This mitigates the effects of declining production, but gold prices (or, when you come to sell, gold value) seem certain to rise in the medium and long term, with rising population and rising demand.
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The long term benefits of buying proof quality rare coins |
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Tuesday, 08 December 2009 16:06 |
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It's always been good advice if you are buying coins for investment, even if the investment is only to be able to pass your collection on to your children - "always buy the best coins you can afford". Rare gold coins in good condition will always retain a high resale value, and I was reminded of that by a report of a recent Bonhams coin auction in New York, where prices for historical US gold coins were extremely strong - read about it at Coin Talk. Some of the prices realized there were amazing, and must have made their sellers very happy. Note the emphasis on 'unmarked' and 'high grade' for the coins that achieved the high prices. Whatever the state of the economy, coins like these will always have eager buyers. If, like most collectors, you have a specific monthly or annual budget, and you are thinking in the long-term, think also about whether you really want to pick up a large number of cheap low grade gold coins, or whether you should start going for the occasional high grade slabbed coin instead.
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Finding the value of gold coins |
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Monday, 07 December 2009 18:00 |
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Here is another way to check the value of a gold coin. If you visit Teletrade, which runs online coin auctions three times a week, you can look at the prices realized for gold coins - in other words, the prices at which the gold coins actually sold for. This is a good guide to what knowledgeable collectors are currently willing to pay for particular historic gold coins. They cover all the US gold coin denominations, from $1 through to $20, plus gold commemoratives, territorial gold coins, and bullion gold coins. The focus is on proof, slabbed and high grade coins. Of course, you can sign up and actually bid on gold coins or the other coins they have on offer too.
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Another gold price chart source |
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Sunday, 06 December 2009 17:00 |
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As the expected downward 'correction' to gold seems to be taking place, and investors and collectors wait to see what this week will bring, here is another option to use to keep track of where the price of gold is going today. It's the USA Gold Live Gold chart, which is more interactive than the Kitco charts, and will display the price for any point in the month if you hold your pointer over the graph.This is worth adding to your bookmarks, if you are the sort of collector who needs to check the price of gold several times a day, like me. It is worth noting that the correction has only taken the spot price back down to where it was on November 28th...
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