Bad time to sell some gold?

[jeep78]

20 years ago gold was just under 300 / oz..

Now it is approaching 2000 / oz.

The dollar has gone down that much

 

[moosensquirrel]

20 years ago gold was just under 300 / oz..

Now it is approaching 2000 / oz.

The dollar has gone down that much

Actually more than inflation. Gold is said to be the "harbor for scared money". The spot price is set by paper markets, most of which are settled in cash, not the actual delivery of the commodity itself. Try buying a contract for 5000oz, future delivery, and then elect to take actual delivery of the 5000oz at the close, regardless of whether the actual paper trade was profitable or not* and see what happens.

*this is contingent on making the appropriate margin calls, if the price heads south.

 

[StuP]

The inherent value of physical gold never changes

I would suggest that you can't ignore utility. It all depends what you want to consider the baseline. The utility of gold varies significantly when you're trying to exchange it for water beside a fresh water lake, or in the middle of a desert. It's just a medium of exchange that has excellent properties suited to that function.

 

[Baldilox]

I appreciate the advice, fellas.

 

[Baldilox]

Will probably list these three:

One 2013-W NGC PF70 Reverse PF $50 GOLD BUFFALO, Chicago ANA Releases.
One is listed on ebay for over $2800. I'll ask less.

Two 2019-W Apollo 11th 50th Anniversary Commemorative Gold Coins, both are PCGS PR70 DCAM First Strike. Closest I can find is a PR 69 DCAM (I think also a First Strike) listed for $630. Not sure what I'd list for, maybe $650/ea or both for $1250.

Prolly won't get many bites here, since asking will be way over melt (for example current melt value of an Apollo 50th Anniv. Gold Commem. at 8.359g of 90% gold is around $455). But hey, may as well list em and let them sit in limbo with those stainless revolvers and the Sig...

 

[moosensquirrel]

I would suggest that you can't ignore utility. It all depends what you want to consider the baseline. The utility of gold varies significantly when you're trying to exchange it for water beside a fresh water lake, or in the middle of a desert. It's just a medium of exchange that has excellent properties suited to that function.

Most anyone who bought gold for it's ultimate purpose, i.e. wealth preservation, would not be using it to buy water at a fresh water lake. I agree: it is is the ultimate time proven "medium of exchange that has excellent properties suited to that function."