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Wolfie00
My dog is an elitist
Premium
join:2005-03-12
kudos:8
reply to Gone

Re: Buying some USA nickles for the intrinsic value.

said by Gone:

The value of gold is a direct indicator of economic stability. When the economy sucks, gold value goes up. When the economy is booming and there's plenty of credit and money to go around, the value of gold plummets. The value of gold now, and the lead-up to it, were direct results of both the economic mess the entire world is in now, and the fact that most people started to realize the jig was up in 2006-2007.

I'm no expert, but I would suggest that there are two basic components to gold prices: the fundamentals that determine long-term value, and the speculative market forces that determine relatively short-term value (which can be many years) that are driven by things like gold as a "safe" haven from inflation and financial instability. I was talking about the long term fundamentals, which are driven by things like population growth and increased demand for scarcer resources.
--
"Everyone is entitled to their own opinion, but not their own facts."
Daniel Patrick Moynihan


Gone
Premium
join:2011-01-24
Fort Erie, ON
kudos:4
Fair point, but the increase in gold prices since about 2006 or so would be part of that short-term speculative purchasing that you mentioned. I would suspect that the long-term value, at least to relative to fiat money, would have more to do with inflation than the actual scarcity or supply and demand.


FaxCap

join:2002-05-25
Surrey, BC
Reviews:
·Shaw
reply to Warez_Zealot
I have bought and sold gold through Scotiabank. If you buy you had
better hope gold gains 10%-15% because they charge a handsome
premium on BOTH ends of the sale. You pay well above the daily rate
and they buy well below.

The only reason I made great money is the fact I bought at $300/oz
and sold at $1200/oz. Had to hold it damn near 8 years though.
In hindsight I wish I had bought 100 times more than I did.

FaxCap

Warez_Zealot

join:2006-04-19
Vancouver
reply to J E F F
Interesting replies. You guys are kinda me out of it. To be honest the thing that worries me is that have to move far and be stuck with 100kg of coins.. lol
said by J E F F:

Not likely to go 6-10X face value...currently their "melt" value is less than 5 cents a piece. Not only that, "melting" the coins is a punishable offence...if you got caught... Nickel isn't silver - not a precious metal. Most silver coins aren't melted, but held on to by collectors.

This right? I thought melting USA currency in an offense.... If go and buy the bring it to a place teckcominco cominco and get rid of them all at once. Would they actually not them?
--
"You're not supposed to be so blind with patriotism that you can't face reality. Wrong is wrong, no matter who says it."-Malcolm X



J E F F
Whatta Ya Think About Dat?
Premium
join:2004-04-01
Kitchener, ON
kudos:1
I'm sure there are companies in Canada that would melt currency, just like there are companies that will buy/melt stolen copper. You just might have to deal with the malcontents of this world.
--
If you can't explain it simply, you don't understand it well enough. - Albert Einstein


dirtyjeffer
Anons on ignore, but not due to fear.
Premium
join:2002-02-21
London, ON
reply to FaxCap
said by FaxCap:

The only reason I made great money is the fact I bought at $300/oz
and sold at $1200/oz. Had to hold it damn near 8 years though.
In hindsight I wish I had bought 100 times more than I did.

FaxCap

pfft...that's a 400% increase in 8 years.

in hindsight, i would have bought Apple shares 9 years ago for $7 each, and hit $700 2 months ago (worth about $550 right now)...if you bought at $7 and sold at $700 a couple of months ago, that's a 10,000% increase...makes your 400% look like chump change.
--
People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf.

- George Orwell


Horsey

@eastlink.ca
reply to J E F F
said by J E F F:

I'm sure there are companies in Canada that would melt currency, just like there are companies that will buy/melt stolen copper. You just might have to deal with the malcontents of this world.

I may be wrong but I dont think it is against the law to melt american coin in Canada.
That being said the OP may want to look at the tax implications of various sized coins AKA paper is FAIL.


Thane_Bitter
Inquire within
Premium
join:2005-01-20
reply to Warez_Zealot
If you want to make money in base metals you need to work at a much grander scale (ie tons). If you are into coins buy a few rolls, you might be able to sell them in a few years for a tad more than what you paid.