Unexpected Bonus posted by Jackson

[CSJournals-migration]

ordered 4 gold sovereigns and received 4 differing busts

 

I admit that I buy a little gold "for a rainy day." I don't buy it at speculation or investment level-and I always buy physical gold over paper gold. I'm a firm believer it that old analysis.....

 

"100 hundred years ago a man could buy a quality tailored suit for $20 currency or a single $20 gold piece. Today a man may buy a nice suit and have it tailored to size for $1500 currency, or roughly 1 $20 gold piece." Give or take a few bucks in either direction, it doesn't matter-the point is the same, currency continues to decline in purchasing power drastically.

 

No, I'm not lauding or pushing people to be "goldbugs". We have had many people on this board pushing others to buy precious metals. I remeber one journaler reported almost daily on the rising value of silver and the need to keep buying--even as silver reached $45, then $8, then $50 an ounce--"I expect it to hit $100--keep buying, the gold to silver historic ratio...yada, yada, yada..." In the end when silver dropped back under $20 an ounce I heard nary a whisper from that guy ( or even apologies in case anyone listened to him and lost their shirt.) He did post about selling many of his pour bars a few months ago--probably at $25 an ounce--but never mentioned that most of them were purchased at 50 to 100% of what he was reselling them for.

 

So, what little I buy is hopefully for the long haul holdings--maybe to liquidate for some living cash in 20 years when I retire

 

My small amounts are almost always limited to 1/4 oz to 1 ounce and hopefully they also have some numismatic qualities that I can enjoy. It is actually unusual for me to buy 4 at a time of the same type or denomination. I like to get a rooster, an angel, an old napolean, a maple leaf, kruger, AGE etc...one 1/4 oz piece of each ( raw also most often--I like to handle the gold coins.) I still want one of those 50 peso gold mexican coins--just beautiful--and I never purchased the $20 High relief AGE and now it will cost me quite a bit more to have one.

 

I recently watched a BBC or history channel show as an informative piece about gold mining. Currently, it costs the larger mines in China and Africa around $1200 an ounce to mine, smelt, test, pour, ship and sell the gold they dig. This got me thinking that now might be the time for me personally to add a little more--get it while the gettins good.

 

So I place an order with Silvertowne. I use them often because they are always having various sales on "Hot Items" that are near melt costs and if you can find a Hot Item with a free shipping category, then you can get nice bargains. So I order 4 sovereigns-roughly 1 ounce total of gold--and they selected me 4 different busts.

 

It's pretty cool that they did this--just shows some extra customer appreciation, which in a day and age where waitresses sigh at you, fast food cashiers roll their eyes when you order food and grocery clerks stare at the size of your grocery cart and shake their head when you enter their line---a small sign of customer appreciation is very welcome.

 

Not any beauties and not numismatic quality--but still fun for me to have 1 of each type--2 different victoria busts and a R facing and L facing George sovereign---almost makes me want to start a sovereign type set---almost.

 

PS: I don't want anyone to think that I am asserting that gold can not drop below $1200 an ounce in the future--demand, inflation, deflation, govt policies about individual holding rights--lots of things could affect the value. I only was reporting what the documentary was stating about the costs for large mining operations and deep digging... happy hunting e1

 

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[brg5658]

Nice pieces. You actually have two Vickys (The Jubilee Head, and the Veiled Head), and you have one Edward VII (right facing) and one George V (left facing).

 

The tradition has long been that each successive British Monarch will alternate the direction he/she faces on coinage.

 

George III -- Right

George IV -- Left

William IV -- Right

Victoria -- Left

Edward VII -- Right

George V -- Left

Edward VIII -- (should have faced Right, but no coins were produced)

George VI -- Left

Elizabeth II -- Right

 

[coinsbygary]

Jackson

You have a wonderful way of explaining financial gibberish in a manner that I clearly understand. That also goes for your comment on my last post. I've been reading up on these financial events in our nations history, but I have always had a hard time grasping the concepts. You in one brief paragraph caused a light bulb to come on concerning the Panic of 1837.

 

Now if I can only get a grasp on things like "The Crime of 1873", "bimetallism", "The Sherman Act", etc.,etc. Perhaps the issues of those days aren't the issues I have a grasp on because I don't think like someone from the 19th and early 20th century's. At any rate as long as you keep explaining, I'll keep understanding little by little.

 

Great post! Oh and BTW I am buying a little silver for myself because its low enough now to do so and if it goes down from here I only lose a sleeveless shirt!

Gary

[jackson64]

I only lose a sleeveless shirt"..wonderful!!

 

You just summarized in one sentence what it took me a whole rambling journal entry to explain about my PM buying thoughts/strategy....

 

By the way, I also have added a few small silver purchases. I just hope that I'm blessed enough that I will not be in a tight situation that would require me to be forced to sell. I suspect that the long-term has a greater chance of values going up than down, but you never know about anything in this day and age..

 

And Brg--thanks for the info on the changing of sovereign busts. I should have figured that you would be knowledgable about a coin issuance with a history of a rearing horse on the reverse...