Is now a good time to sell gold?

[stinkycheese1]

Recently, my parents have been pressureing me to sell some or all of my gold coins. At gold today at around $860/oz its easy to see why. But I have a deep attachment to my coins, I would hate to sell them, at any price. But then the logic part of me kicks in and says to sell them because gold is so high.

 

But is now a good time to sell? Will gold be going up any more do you think? Should I sell now or later ,when gold is possibly higher?

 

I plan on possibly selling and then buying more when gold goes down again. Do you think gold will eventually go down again?

 

I'd hate to sell them all only to have gold go higher and higher and not down and low again (like i n the 600's or 700's) and not be able to buy more coins back.

 

I plan to go to a coin store this wednesday. So peoples opinions here will influence whether or not I sell them..

[ant]

me and my buddy watch these things for jewelery purposes. he seems to think it will hit 750 b4 starting to fall. this next yr could be very volitile for gold. it is up to you whether to sell. i have sold lots of my gold but part of me is not pleased. so take your time and choose for you!

[Revenant]

me and my buddy watch these things for jewelery purposes. he seems to think it will hit 750 b4 starting to fall. this next yr could be very volitile for gold. it is up to you whether to sell. i have sold lots of my gold but part of me is not pleased. so take your time and choose for you!

 

$750? It's at $860/ounce.

[ant]

sorry! he said 150 more then fall! i dont know what i was typing thanks for pointing that out. i just want it to drop again. so i probobly put what i want it to be again these high prices make it hard to buy the metals to make jewelery. so im kinda on hold for bigger stuff till prices drop.

[James_OldeTowne]

Silver is ridiculously high as well. I just dumped almost $300 face in junk silver that I've been accumulating for years - most all of it at 3x face! I got nearly 10x face. Maybe silver will keep climbing, and maybe I could have gotten 11x, 12x or more in the future, but the point is, I better than tripled my money, and that's good enough to me. I have money now to go and buy different coins!

 

So I would say don't worry about trying to time the exact peak. If you have a load of gold on hand that you paid cheaply for, now is an excellent time to sell.

[MBA101]

As I have said b4, don't count on being able to buy again at these levels in the future. If u need the money that is one thing. If you are attached to your coins, I would hold them for they will be irreplaceable at this level or at a lower level in the future, unless you have the money to replace them and don't care about having to buy back at potentially higher levels. Yes gold will have its ups and downs, but gold is still in an uptrend that some say could last another 10 years or more.

[MarkFeld]

But is now a good time to sell? Will gold be going up any more do you think? Should I sell now or later ,when gold is possibly higher?

The simple answer is that none of us knows. However, here is something to consider which might help you decide what is best for you to do....

 

Which would make you feel worse? :

 

A) You sold now and gold went up by quite a bit?

 

B) You didn't sell now and it went down quite a bit?

 

If A would make you feel worse, you should probably keep your coins, at least the ones you really like. But if B would make you feel worse, you should probably do some selling.

[moovyz]

I've been buying a lot of silver lately. I have been doing a lot of research and the general consensus from all the top investment firms and economists is that gold and silver are going to be strong for a while. Many of the people in the know feel silver will rise to the $40-50 range again and gold will easily top $1,000.

 

 

 

Traditionally, precious metals are always strong when the economy is depressed. And I can't help but be convinced that the economy is headed for a recession. You've got a new president soon, likely a . The real estate market is a mess right now with below prime loans. The auto industry, airlines, etc. are all headed for rough times. I feel that money is definately going to tighten soon and the metals will rise significantly.

 

 

 

I'm buying silver now. I am not realy worried that it will drop below $12. But I do feel that $20 to $25 is coming soon. If so, that will push gold over the $1,000 mark easily.

 

 

 

This is only my opinion but I've never seen all these factors lining up so well in terms of precious metal growth potential. I made a killing back when silver hit $50 in the '70s (I sold at $38, most bought at $5-6). The only reason the bottom fell out was the Hunt Brothers. The same factors are pushing silver and gold now but the difference is there are no Hunts to mess this one up.

 

 

BTW, I plan on selling my silver at $30. If we are in a deep recession when it hits $30, I'm going to wait until it hits $40.

[moovyz]

Wow, D-E-M-O-C-R-A-T is a spoon?

[MunkyMan95]

Kevin,

 

I have sold the majority of my gold holdings over the past 6 months or so. I did so for a few reasons:

 

1) Gold is at a level that I have never seen before, and much higher than the level that I purchased the gold at.

 

2) To reinvest/redistribute the money into new ventures! You would be very surprised at just how many decent coins you can get from the sale of just one of your gold coins.

 

Maybe you should sell one or two now, and then hold the rest and see where gold goes in say... 6 months? That's what I would do. That way, you have a little money to play with in the meantime.

[mommam17]

I sold my only $20 gold piece a few years ago to buy some commems, thinking it would be easy to replace. Well, it was easy to replace at a much higher price! Recently, I was thinking of selling my present $20 to buy some commems but I thought about what happened before and decided against it. To be happy, I need 1 $20 St. Gaudens in my collection, so it will stay put. What happens if gold goes so high, I`m never able to replace it. I will be kicking myself for a long time!!!!

[jgrinz]

I am selling My (5) Liberty Double Eagles in Heritage February Signature Sale.

 

You have to figure a selling point at which you will be happy with the outcome. Having bought these in 02 and 04 - the returns are well above my expected margin and will move the $ somewhere else in investing/collecting.

 

Good Luck on your decision

[Houston Investor]

An article I read on Kitco is estimating a 2008 high for gold at $1050 which I believe is a conservative estimate. The US dollar continues falling while oil is expected to rise more. Add to this the political unrest worldwide coupled with the credit crisis - the outlook seems bullish for gold.

 

1. I am increasing my gold position wherever possible and intend to make a major investment in my rare coin / currency business in 2008 from other assets. I also invest in gold mining stocks in addition to having a considerable silver stockpile (BU rolls, 90% silver bulk, ASE rolls).

 

2. I would not recommend liquidating any gold unless a forced sale due to financial needs or some small profit taking to accumulate funds for vacation or entertainment.

 

3. My gold bullion new investment money is going into AGE, AGB, USM material that I have been buying from local coin shops (guys I know off the bourse who give me good deals).

 

4. Bullion outperformed rare coins in 2007 (Bullion vs PCGS 3000) and will probably continue to do so in 2008. I am not a major buyer of rare coins unless I can buy them right and this material fits in with my marketing strategy.

[jtryka]

I do not know what your current collection holds, but based on your posts you have a some nice classic gold coins and a number of random gold items, like 1g and 5g bars. I would recommend selling the items that are just gold and not meaningful to your collection, like the bars etc. and then using that money either for savings for future purchases or for buying something else that would fit in your collection. For me, I have a lot of gold bought cheap, most of my Saint set was purchased in 1999-2002, so many were purchased at half of current melt or less. I would not consider selling them just because of the price of gold. Instead I would only consider selling them if I had a defined use for the proceeds, such as buying a house, business, etc. What people often forget is that dollars are a depreciating asset, so putting the proceeds into just cash would be a mistake in my opinion. In any case, do what will make you sleep better at night, you're too young to be worrying about such things!

[physics-fan3.14]

I do not know what your current collection holds, but based on your posts you have a some nice classic gold coins and a number of random gold items, like 1g and 5g bars. I would recommend selling the items that are just gold and not meaningful to your collection, like the bars etc. and then using that money either for savings for future purchases or for buying something else that would fit in your collection.

 

By Far the best advice in this thread! Stinky, I know you really like your gold coins, and you will regret selling things that are dear to you. Just don't do it. However, now (or in the coming months) might be a good time to get rid of some of the lesser stuff that you would otherwise have a hard time getting rid of at a profit (such as a certain scratched coin we all remember, if you haven't gotten rid of that one yet).

 

Your parents might be pressuring you to sell, but in the end it is your decision, not theirs. However, you can probably satisfy them by folling jtryka's advice.

[physics-fan3.14]

I've been buying a lot of silver lately. I have been doing a lot of research and the general consensus from all the top investment firms and economists is that gold and silver are going to be strong for a while. Many of the people in the know feel silver will rise to the $40-50 range again and gold will easily top $1,000.

 

BTW, I plan on selling my silver at $30. If we are in a deep recession when it hits $30, I'm going to wait until it hits $40.

 

Not again... All these so called leading economists and their so called predictions backed up by so called facts and theories are a bunch of bollocks. Yeah, gold may flirt with $1000, but its almost there already. However, there is a strong psychological barrier there, and it will take quite a bit of doing to push it over. Just like oil at $100 a barrel, which despite all this talk is just now flirting with. But silver at $40 - $50, I mean, come on! Why would it do that? There is no reason, and it won't. It might get to $20, maybe, if everything works out just right, but I doubt even that.

 

And as for all this nonsense about a recession, not to mention a deep recession, that is also a pile of steaming rubble. A recession is defined as two consecutive quarters of negative GDP growth, and we are not supposed to get anywhere near that. Yes, GDP growth has been high for the past few years. Yes, GDP growth is going to slow some. But it is not forecasted to get negative at all, only bottom out at +1%. So while the economy might slow down some, it is nothing like a recession. I am guessing, unless something changes, that this year might be a little harder than past years, but it will still be just fine. All this will be pulling back by next fall or winter.

[DC Dawg]

What little gold I have for investment purposes will be sold by October or falls below $800, my limit to see a decent profit. I am not going to risk the price on the November election because regardless of who wins, there will be wild fluctuations based on the "perception" of the economic policies of the president-elect.

 

BTW... in dollar values, gold may be the highest it has ever been. But in real or economic value, 1980 still beats today. If you bought gold at its record high price of $850 in 1980 and held it until today, the price you paid for that gold adjusted for inflation is $2,168.09 in 2007 dollars. Which means that if you sold that gold at today’s market price of $860, you would have made $10 in real dollars, but you would have lost $1,280 in your economic buying power. As an interesting side note, under the current tax law you would have to pay capital gains tax on the $10 “profit.”

 

Commodities are a very difficult market to predict and invest in. Commodities that are disposable (food, fuel, etc.) are short term investments. Commodities that are based on economic factors (precious metals, bonds, etc.) are very volatile. It takes a lot of nerve to do this... more than I have!!

 

As a curiosity, I looked at the numbers for oil between 1980 and today. The highest price for oil in 1980 was $38 per barrel. Adjusting for inflation, that would be equivalent to buying oil at around $96 per barrel in today's dollars. Interestingly, that is about the average for the cost of oil today. Economically, if we are using 1980 as the benchmark, we are not paying any more for a barrel of oil today than we did in 1980. Although other market factors impacts the economy differently today, think about the economic climate that may affect the 2008 elections and those that had an impact in 1980.

 

Scott

[rbrown4]

Interesting information Scott. I agree with the oil comparison, my family is in the oil business and everytime I try to explain this type of comparison to folks they just do not understand. They should be glad they don't live in parts of Europe they would have been screaming many years ago.

[astrostu]

Again, in comparison with oil, my understanding is that about 1 oz of silver would've bought ~3-5 gallons of gas back in the '50s. The same is true today.

 

In general, I think that the precious metals, oil, etc. are correcting themselves for inflation.

[SkyMan]

There is a reason most seasoned collectors will tell you to only buy coins with your disposable income. Unless you are a dealer (be it specializing in a micro-niche or whatever) you should only be buying coins with money you can afford to lose. With that sort of a philosophy you can enjoy your collection without worrying about it. Also, that allows a person to hold on to a given coin for a long time which tends to increase the chances for making a profit on that coin. In an odd way the not worrying about a profit tends to increase the odds for making a profit.

[PovertyRow]

But is now a good time to sell? Will gold be going up any more do you think? Should I sell now or later ,when gold is possibly higher?

 

Stinky - pretty much no one can answer that question on a financial level. You are asking for a non-existent crystal ball (anyone remmebr CISCO stock???)

 

What it SOUNDS like you are really asking is "Should I selll my gold now for a profit then try to re-acquire a more extensive collection after gold goes down?"

 

Personally I don't see the price of gold fluctuating to such an extent that you would see a really appreciable difference in the value of your current collection vs your selling your collection then waiting for the gold price to drop. You may acquire a coin or two from any such profit but the sum total of your collection is not worth enough for spot gold to have a major impact. If you're collection were in the 6 or 7 figure range I could see the question on a purely financial level. But yours is basically a 4 figure collection (nice one but just not super valuable dollar wise) and I really don't see the price of gold impacting it unless gold hit really low levels.

 

If you really like what you have then keep it. If you are concerned about the price of gold now then stop buying and continue to accumulate money for your collection and, if gold starts to drop, you can add to that collection more easily.

 

[michael]

Re: Is now a good time to sell gold?

 

if you are under 18 you need your parents permission

 

only sell if you need the money for something that is more important to you than gold that will help/improve/make your life go forward and then only with your parents permission if you are under 18 years of age and/or still live under their roof and not paying your share of your rent/food/utilities costs

[BillJones]

Wow, D-E-M-O-C-R-A-T is a spoon?

 

YEP!

 

I use the term "donkey party" when I write about it here. It becomes awkward when you write about donkey party historical figures like Andrew Jackson and William Jennings Bryan who a significant connection to American numismatic history.

 

When it comes to the elephant party, I think that “GOP” passes the test.

 

[Oldtrader3]

Keep in mind that the Euro cost about $0.85 to the U.S. dollar in the late 1990's. The Euro now costs $1.47 U.S.. This is a 73% depreciation of the U.S. dollar in terms of the Euro in about 10 years. This trend will probably continue at least through the election. The King of Saudi Arabia stated about (2) weeks ago that his country did not want anymore "worthless" U.S. dollars.

[astrostu]

The King of Saudi Arabia stated about (2) weeks ago that his country did not want anymore "worthless" U.S. dollars.

 

And the Taj Mahal is no longer accepting US$.

[just-john]

Stinky There's nothing wrong with taking a profit even if it's a small amount. Why not split you gold into 2 groups of equal parts by what they cost you with grading figured in. Them remember if golds at $861.00 per oz thats not what you get when you sell it.For $861.00

you can own 56-1/2 OZ of silver@ $15.24 if silver were to go to $16.00 0/Z gold would have to go to $900.00 to be equal or the down side say gold at $678.00 silver would have to go to $12.0---------anyway taking a profit aways better than a loss

[jackson64]

Many of the gold coins that I have seen in your collection are valued at above the gold spot anyhow, I wouldn't think that the melt value has affected the worth of an MS64 Saint too much...generic and bars...who knows, I like MarkFeld's logic...which would make you feel worse, missing the opportunity to gain more or holding on and losing...

[jtryka]

Gold's at $875 today, so at least you made money while you're thinking about it!

[MBA101]

PCGS price guide again upped the prices for all $20 Libs. These are getting bid up like crazy. Saints have been getting bid up as well, as I wait to see the new Greysheet monthly supplement. When the gold price goes nuts, MS Saints and Libs tend to have hefty premiums bid into them until the gold price stabilizes or declines again. We appear to be seeing that now.

[stinkycheese1]

holy gold is at Gold $878.00

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