What should I sell my gold coin for?

[Darkowl]

Greetings! I have a 2011 Austrian Gold Philharmonic 1oz Coin that i would like to sell. How much should I sell it for? Also, do you guys think that gold with rise again after this dip that is currently going on? Thanks.

[CyberspaceVoid]

it's bullion ... sell if for that and maybe a few bucks more if you can get it.

[BruceS]

Greetings! I have a 2011 Austrian Gold Philharmonic 1oz Coin that i would like to sell. How much should I sell it for? Also, do you guys think that gold with rise again after this dip that is currently going on? Thanks.

 

I'm no speculator, but now is NOT the time to sell. have you seen gold prices over the last week? i think gold will come back, maybe not as fast as it fell but it will come back. IMO hold on to it.

[Darkowl]

Greetings! I have a 2011 Austrian Gold Philharmonic 1oz Coin that i would like to sell. How much should I sell it for? Also, do you guys think that gold with rise again after this dip that is currently going on? Thanks.

 

I'm no speculator, but now is NOT the time to sell. have you seen gold prices over the last week? i think gold will come back, maybe not as fast as it fell but it will come back. IMO hold on to it.

 

Thank you so much! I have seen the gold prices for the past week, and they scare me. I purchased my gold back in 2011 right before the $1900 an oz peak, and I paid about $1500 for my coin. I would hate to sell it and lose money, so thank you very much for your advice!!!

[FishyOne]

Greetings! I have a 2011 Austrian Gold Philharmonic 1oz Coin that i would like to sell. How much should I sell it for? Also, do you guys think that gold with rise again after this dip that is currently going on? Thanks.

 

I'm no speculator, but now is NOT the time to sell. have you seen gold prices over the last week? i think gold will come back, maybe not as fast as it fell but it will come back. IMO hold on to it.

 

Thank you so much! I have seen the gold prices for the past week, and they scare me. I purchased my gold back in 2011 right before the $1900 an oz peak, and I paid about $1500 for my coin. I would hate to sell it and lose money, so thank you very much for your advice!!!

 

I believe you will be able to get your $1500 back out of your coin within 2 years and probably within one year.

 

Many people are scared right now. Don't be. We're talking about a couple hundred bucks for you here. Don't let it ruin your day.

[michael]

agreed you need to hold the one ounce

until gold recovers if you are in a position to do this

 

 

[Mr Bo Jingles]

I agree with everybody. Unless you need the cash just hang on to the coin. You won't lose a dime if you don't sell it and both gold and silver are going to bounce back.

[CyberspaceVoid]

I agree with the others. I am holding a lot more than you but I bought most of it years ago in late '94 to mid '95. At that time it went from ~ $400 to ~$300's, thats a 25% drop much like you have seen since you bought. It did eventually recover and then some.

 

 

In the above chart notice that after the price of gold stabalized in the 80's and early 90's it declined during Clinton's adminstration when he and the new Republicann Congress achieved a balanced budget and started to have (gasp) surplusses. In 2002, gold began it's long climb after we started huge budget deficits (4 T's) due to wars and tax givebacks under Bush. The hick-up in late 2008 I think we all know what happened. Gold prices escalated further under Obama with even more massive deficit spending (8 T's and climbing). Is the chart repeating the 1980 crash patern? Maybe, or maybe not. The 1980 bubble was initiated by private speculation, aided by the Hunt Bros in silver, during a time of double digit inflation (i.e. the underlying reasons are vastly different).

 

If you read some bullish websites you will see they say it is a contrived crash and bullion will bounce back soon as the price collapse is all due to paper shorting. Other bearish websites say that the bubble is over and gold will fall back for several years (some even say forever). The real answer is no one really knows for sure, and long-term prices will depend on what the government does. IMO we are currently in a severe correction, however a full recovery to $1900+ may take some time.

 

The question to sell or hold for you personally will be found in why you bought in the first place. Did you buy it for future protection (for whatever reason) or did you buy it to make a quick buck? I held mine in the late 90's because I wanted to establish an emergency reserve in case everything went to hell in a handbasket ... as a bonus I got to enjoy all the old gold coins I amassed! If you wanted to make a quick profit ... well ... bad timing happens to all of us, and sometimes we need to price average or take our lumps.

 

 

[crypto79-migration]

 

 

Not sure how people can look at that chart and not see a bubble. While it will never be worthless, I just don't buy that "worth a good suit" line. It's purely conjecture as "good" is undefinable.

 

I do worry some for our hobby a little bit if it is worse than a mild correction. the PM markets have injected quite a bit of income into the dealing business which drove auction prices, liquidity and collector confidence which fueled much of boom of late. It is a slippery slope if dealers lose that revenue tail or worse take a bath and quit buying at auctions.

[Darkowl]

Close to two years later, and gold has not recovered. Anyone still convinced that it will?

[Nutmeg Coin]

Apmex posts buy/sells on these and is reasonable: http://www.apmex.com/category/16505/gold-philharmonics/all

[RWB]

Well, gold is recovering -- that is, it is moving toward something closer to its commodity value, not its speculative hype.

 

If one looks at that long-range chart, the base for gold is about $500/T oz.

[orifdoc]

It will certainly go back up and reach new highs. The timeline might be measured in decades instead of years though...... You might only get one or two opportunities to play in a generation. You never know. Uncertainty and lack of confidence in more traditional investments fuel a lot of the movement and those changes are hard to predict.

[wdrob]

Well, gold is recovering -- that is, it is moving toward something closer to its commodity value, not its speculative hype.

 

If one looks at that long-range chart, the base for gold is about $500/T oz.

 

 

What chart are you looking at that causes you see the "base" for gold at $500.00 oz?

 

Or are you just basing that upon the price in 3rd Q 2005 (prior to making its steady run to a high of $1.8k) that is should naturally fall back to that price?

 

Why not just say $300.00 /oz - it bumped up and down right around that number for far longer than it stayed at $500.00 ..

 

Just curious?

 

 

*** EDIT - I will add that I am concerned with any line of thought on the PM that assumes a base price LOWER that the cost of getting it out of the ground.

 

 

 

 

[jom]

*** EDIT - I will add that I am concerned with any line of thought on the PM that assumes a base price LOWER that the cost of getting it out of the ground.

 

Do you have any idea what that might be?

 

On the other hand, I have concerns with any line of thought that assumes the price of gold should be higher than the price one would pay to USE it for some purpose (jewelry, electronics etc.). Why would it be worth more?

 

jom

[Darkowl]

It will certainly go back up and reach new highs. The timeline might be measured in decades instead of years though...... You might only get one or two opportunities to play in a generation. You never know. Uncertainty and lack of confidence in more traditional investments fuel a lot of the movement and those changes are hard to predict.

 

Decades?!

 

OK. I'm selling this piece of scrap now. Any takers?

[wdrob]

*** EDIT - I will add that I am concerned with any line of thought on the PM that assumes a base price LOWER that the cost of getting it out of the ground.

 

Do you have any idea what that might be?

 

Not me personally. It has only ever cost me sweat. But according to this March 2014 report it would seem as though we are fairly close to it now.

 

From that article.

 

In 2012, the senior gold companies worked with the World Gold Council to come up with a new measure. After considerable debate and compromise, they created a new industry standard: all-in sustaining costs, or AISC. It was widely adapted by the sector last year.

 

.........

 

Judging by recent earnings reports, the average all-in sustaining costs for the industry fall between US$1,100 and US$1,200 an ounce. In other words, margins in the gold sector are incredibly tight for all but the top-tier mines.

 

 

On the other hand, I have concerns with any line of thought that assumes the price of gold should be higher than the price one would pay to USE it for some purpose (jewelry, electronics etc.). Why would it be worth more?

 

jom

 

I guess the fact that there is a finite supply of gold for one, and two -- the intrinsic value added getting it out of the ground.

 

If it were true above and it costs $1,100 to $1,200.00 an oz (keep in mind fuel costs were higher at that time) in overhead to get the gold from the ground, and the price drops below that, I would expect for less people to be mining the gold. Less people mining the gold means less supply. The natural laws of supply and demand then would kick in dictating the value of the gold.

 

 

 

 

[RWB]

...the chart with this post. Compare the two spike-centered curves.

 

Doesn't matter what it "costs" to get gold out of the ground. Lots of minerals fall below extraction cost - sometimes for very long periods. Usage has to exist.

[wdrob]

I can only hope you are wrong Roger.

 

I personally feel as though any recent slump in prices has more to do with me buying nearly 10 oz in the last week or so rather than some logical and sound economic theory.

 

 

[Nutmeg Coin]

It's all relative to what the owner of tangible and paper assets, real estate wants to do economically. Personally I would rather have working assets than tangible assets, but gold coins have been recommended for a long time as a form of wealth insurance or hedging one's bets. Some paint a dark picture that precious metals represent an overly critical or cynical economic philosophy. If you read various articles out there on both sides from Kitco to Lew Rockwell to the more liberal commentators people can get a sense of the variations of what is worth investing in. Precious metals are one of the easiest things to quantify on planet earth--what is so easy to figure out $$ value? Plus many countries have been adding to their stockpiles of gold. They are not dummies. A reasonable percentage of your wealth should be in diversified assets of which precious metals are just one useful tool.

[World Colonial]

...the chart with this post. Compare the two spike-centered curves.

 

Doesn't matter what it "costs" to get gold out of the ground. Lots of minerals fall below extraction cost - sometimes for very long periods. Usage has to exist.

 

Correct. This reason is a typical rationalization used by marketers to promote bullion. I remember it for silver throughout the decade in the 1980's. It didn't matter and silver went nowhere. Once a mine is active, there are sunk costs which must be amortized and these costs are included in the "all-in" number. They aren't really relevant once mining operations begin.

 

As far as gold and its usage value, it should be apparent that it isn't just valued for its utility. It still remains a monetary asset, both as part of central bank reserves and by many especially in the emerging markets.

[BAJJERFAN]

Greetings! I have a 2011 Austrian Gold Philharmonic 1oz Coin that i would like to sell. How much should I sell it for? Also, do you guys think that gold with rise again after this dip that is currently going on? Thanks.

 

I'm no speculator, but now is NOT the time to sell. have you seen gold prices over the last week? i think gold will come back, maybe not as fast as it fell but it will come back. IMO hold on to it.

 

Thank you so much! I have seen the gold prices for the past week, and they scare me. I purchased my gold back in 2011 right before the $1900 an oz peak, and I paid about $1500 for my coin. I would hate to sell it and lose money, so thank you very much for your advice!!!

 

I have a few ounces of that $1500 gold myself. If you don't need to sell you should have been taking advantage of the dips to dollar cost average down. My gut tells me we won't see $1500+ gold again anytime soon. APMEX is paying $1206 for random year coins. They would be your best bet. Or try here on the Money Marketplace board for $1215 delivered. You shoulda sold 6 weeks ago when gold broke over $1300.

[jom]

As far as gold and its usage value, it should be apparent that it isn't just valued for its utility. It still remains a monetary asset, both as part of central bank reserves and by many especially in the emerging markets.

 

And one wonders WHY they consider it a monetary asset.

 

Whatever the case, it's a commodity and commodities are the worst investments out there. Historically, they bring less return with HIGHER volatility...which is the opposite of what you'd expect for an investment with a lot of volatility.

 

jom

[World Colonial]

As far as gold and its usage value, it should be apparent that it isn't just valued for its utility. It still remains a monetary asset, both as part of central bank reserves and by many especially in the emerging markets.

 

And one wonders WHY they consider it a monetary asset.

 

Whatever the case, it's a commodity and commodities are the worst investments out there. Historically, they bring less return with HIGHER volatility...which is the opposite of what you'd expect for an investment with a lot of volatility.

 

jom

 

The answer is 6000 years of recorded history.

 

As for your second paragraph, I presume you are referring to financial assets and real estate. In my opinion, the primary reason for this performance is because of central bank induced artificially cheap money and the greatest credit bubbble in the history of civilization. This is also the primary reason for the low volatility you see.

 

Many of these "assets" are a bag of hot air with no substance to them whatsoever and aren't remotely worth their current prices based upon the "fundamentals" or the income streams they produce.

 

The credit bubble has lasted far longer that I ever thought it would. Having said that though, "eventually" the value of financial claims is going to experience a 'reset" to more closely align with the actual underlying wealth in the economy from real production. When it does, the population in every society which has been a beneficiary of the credit mania will experience a crash landing in it's living standards because it is as fake as the "value" of these "assets".

[CaptHenway]

OP: As you have seen, talk is cheap.

 

Gold is down $160 or so since you started the thread. It may go up, it may go down. Nobody knows.

 

If you have a better use for the money, sell the coin. If you don't need the money and wish to speculate, hold it.

[RWB]

In 1978 gold averaged $200/T oz.

Today it is $1,200/T oz.

 

In 1978 I had $2,500 to save for the future. I wanted to put it away and not touch it.

 

I could have bought 12.5 T oz. of gold (probably Krugerrands). Today this would be worth $15,000 if nothing were added. Six times the original investment.

 

I actually bought an IRA with T. Rowe Price; an aggressive growth fund. Nothing was added since 1978. The value yesterday was $245,665.93. Ninety-eight times the original investment.

[Darkowl]

Greetings! I have a 2011 Austrian Gold Philharmonic 1oz Coin that i would like to sell. How much should I sell it for? Also, do you guys think that gold with rise again after this dip that is currently going on? Thanks.

 

I'm no speculator, but now is NOT the time to sell. have you seen gold prices over the last week? i think gold will come back, maybe not as fast as it fell but it will come back. IMO hold on to it.

 

Thank you so much! I have seen the gold prices for the past week, and they scare me. I purchased my gold back in 2011 right before the $1900 an oz peak, and I paid about $1500 for my coin. I would hate to sell it and lose money, so thank you very much for your advice!!!

 

I have a few ounces of that $1500 gold myself. If you don't need to sell you should have been taking advantage of the dips to dollar cost average down. My gut tells me we won't see $1500+ gold again anytime soon. APMEX is paying $1206 for random year coins. They would be your best bet. Or try here on the Money Marketplace board for $1215 delivered. You shoulda sold 6 weeks ago when gold broke over $1300.

 

I tried to sell it on here when it was around $1300, but there wasn't any interest.

[Darkowl]

As far as gold and its usage value, it should be apparent that it isn't just valued for its utility. It still remains a monetary asset, both as part of central bank reserves and by many especially in the emerging markets.

 

And one wonders WHY they consider it a monetary asset.

 

Whatever the case, it's a commodity and commodities are the worst investments out there. Historically, they bring less return with HIGHER volatility...which is the opposite of what you'd expect for an investment with a lot of volatility.

 

jom

 

What do you consider to be one of the best investments out there?

[jpcienkus]

As far as gold and its usage value, it should be apparent that it isn't just valued for its utility. It still remains a monetary asset, both as part of central bank reserves and by many especially in the emerging markets.

 

And one wonders WHY they consider it a monetary asset.

 

Whatever the case, it's a commodity and commodities are the worst investments out there. Historically, they bring less return with HIGHER volatility...which is the opposite of what you'd expect for an investment with a lot of volatility.

 

jom

 

What do you consider to be one of the best investments out there?

 

S&P 500 Index fund. Has very low costs and most mutual funds have a difficult time beating the return on this index fund on a long term basis.

 

I'm not being crass. While I like purchasing coins for my collection, I don't consider them an investment. There are much better ways to invest your money.

[BAJJERFAN]

Greetings! I have a 2011 Austrian Gold Philharmonic 1oz Coin that i would like to sell. How much should I sell it for? Also, do you guys think that gold with rise again after this dip that is currently going on? Thanks.

 

I'm no speculator, but now is NOT the time to sell. have you seen gold prices over the last week? i think gold will come back, maybe not as fast as it fell but it will come back. IMO hold on to it.

 

Thank you so much! I have seen the gold prices for the past week, and they scare me. I purchased my gold back in 2011 right before the $1900 an oz peak, and I paid about $1500 for my coin. I would hate to sell it and lose money, so thank you very much for your advice!!!

 

I have a few ounces of that $1500 gold myself. If you don't need to sell you should have been taking advantage of the dips to dollar cost average down. My gut tells me we won't see $1500+ gold again anytime soon. APMEX is paying $1206 for random year coins. They would be your best bet. Or try here on the Money Marketplace board for $1215 delivered. You shoulda sold 6 weeks ago when gold broke over $1300.

 

I tried to sell it on here when it was around $1300, but there wasn't any interest.

 

It's kind of hit or miss here. APMEX would have been the place of choice unless you have a local place that would offer close to APMEX.