...can gold go? Anyone care to guess?

Right now it's $270.00-ish. A 20-year low. Silver's down too. Maybe a good time to buy, if your insanity runs in that direction.

-- Been (there@done.that), May 25, 1999

Answers

Hmmm. If you could definitively answer that question you wouldn't have to worry what the POG was, would you? ;-) Some of the 'experts' are saying that deflation could drive the POG down to $200 or so. Some are saying that it's all manipulated anyway, in fact there's a recently- filed lawsuit seeking to prove that the POG has been manipulated. Will be interesting to see how that goes.

Picking market bottoms is no more reliable an activity than picking tops. Close is good enough. Right now I'd say we were pretty close to 'close.'

-- Lee (lplapinN@hotmail.com), May 25, 1999.

They shall cast their silver in the streets, and their gold shall be removed (Ezekiel 7:19).

-- confiscation (willnotsat@thistime.com), May 25, 1999.

If you choose to purchase gold, I am informed that you should buy collection type gold. It seems that this is exempt(or has been up til now) from confiscation from the government.

"Just my opinion, I could be wrong" - Dennis Miller

-- Morrighan (matotipi@worldpath.net), May 25, 1999.

Sorry Morrighan,

wrong - just buy American eagles - no tax if bought in quantities of $1000 plus -

this is a buying opportunity - grab it hile yo can - what do you think fiat money will be "worth" in a year's time?

-- Andy (2000EOD@prodigy.net), May 25, 1999.

Andy:

May I ask what you are basing your response on? (I am not being facetious). This was told to me by a gold dealer when I explained what I was purchasing it for. However, I am still deliberating the wisdom of purchasing gold and in the process of gathering information. So I would appreciate any additional information you might be able to give. Thank you.

-- Morrighan (matotipi@worldpath.net), May 25, 1999.

Morrighan - By the slightest chance was the gold dealer who stated that "collector gold" was not subject to confiscation wanting to SELL you some "collector gold"?

I've listened to that scam before, sometimes they're selling Philharmonics, other times Coronas, who knows, who cares, its bull.

Call Camino Coin and ask for Burt Blumert, if he has the time he'll be able to tell you more than you want to know about "collector gold" scams.

P.S. If you think that gold confiscation is an area of concern, start reading the recent Executive Orders. Your house, food, car, coins, guns, genset, tents, and grapefruit spoons are subject to confiscation, not to mention slave labor, er, pardon me, non-reimbursed labor services, we simply must use the politically correct terms, mustn't we?

-- Ken Seger (kenseger@earthlink.net), May 25, 1999.

Ken:

Thank you so much for the input. I will try to contact Burt. As a matter of fact, the dealer was trying to sell me collector gold.

Getting this type of information is exactly why I came to this site.

Thanks again Ken.

-- Morrighan (matotipi@worldpath.net), May 25, 1999.

Morrighan,

Ditto the "collector gold' statements earlier. It was true that numismatics were exempted from confiscation in the 1934 executive order. That may or may not be the case if there is a 'next time.' I wouldn't count on it. You should be a serious (that is, study carefully) collector if you plan to buy numismatic coins, otherwise you are far too likely to be taken advantage of by unscrupulous dealers. As with all other aspects of preparation, study the matter carefully, check multiple sources and make decisions that _you_ are happy with. You might want to call Dillon-Gage Metals in Dallas, Tx for prices as well (800-375-4653). I've dealt with them for quite a while, and have no financial interest in recommending them. All reputable dealers will be happy to give you information over the phone- don't worry about telling them you're new to the market. Just compare prices by making calls to different dealers within the same hour, since the market can fluctuate in minutes.

-- Lee (lplapinN@hotmail.com), May 25, 1999.

Morrghan,

Go over to

http://www.kitco.com

Find their forum and ask, you will find out more about gold than you will ever want to know, who better to ask than a room full of gold bugs

-- CT (ct@no.yr), May 25, 1999.

Morrigham, Buy only gold coins with the lowest premium. Probably American Eagles......Willa

-- Willa Herman (Pokergame@aol.com), May 26, 1999.

As long as we're recommending sites... try Affordable Jewelry & Precious Metals at www.ajpm.com

I've used them several times, & the service & price are excellent, once you used to the idea of buying gold thru the mail. And no I'm not connected with them.

-- still (not@this.address), May 26, 1999.

If you are looking to purchase gold coins with the lowest premium histories; in ounce coins that would be the Kruggerand, in near ounce ~.91 that would be the Austrian or the Hungarian 100 Corona, in even fractionals, that would again be Kruggerands, in near fractional ~.2147 etc. that would be British Sovereigns, Columbian Pesos, French or Swiss Francs.

My favorite dealer (I've no connection, etc.) is Ron Paul & Co. They will lock in your price on the phone, ship the coins when your check clears, and give free shipping of gold coins when purchasing more than 20 ounces. RP & C is a desk at Burt Blumert's Camino Coins.

P.S. When calling around and looking for lowest premiums, ASK what various coins are selling for, and calculate the premiums yourself. Many times a "new guy" salesperson/phone answerer minimum wage type won't really know what PERCENTAGE the premium is, or has figured it wrong, and will just push what's most in stock.

Just checked http://www.kitco.com/gold.graph.html and spot is 269.10 right now. If you think that buying within 10% of a bottem is good enough "timing" and if you think a low of $243 is doable, buy it now! I think TPTB can talk down gold to $250 if they try real hard. You'll know they're trying really hard if the price of gold gets covered by Brokaw, Rather, or Jennings. Meanwhile coin sales continue through the roof.

-- Ken Seger (kenseger@earthlink.net), May 26, 1999.