Wednesday, June 26, 2013
Gold and Silver Down - Oh No!
Under $19 for silver and under $1250 for gold. What am I currently doing? I am wishing I could buy more numismatics :)
There really are 2 sides of this. Do you see the world economy in the short, mid, and long term recovering or not. That pretty much will tell you what to do. Being that I collect silver coins the drop hurts by not a whole lot. My coins have more collector value than silver value but I always wanted to own a brick of silver. I haven't actually bought a chunk of silver but it is looking like more of a reality as the days go by.
The other plus side of all this is the fact that the Reverse Proof Gold Buffalo will be priced the same as the other standard Buffalo. The drop in gold price is making it a lot easier to purchase both coins. The drop in gold price is causing speculation that the Mint may suspend orders early. Basically it feels like gambling. Buy now and watch the price drop or miss out on even being able to buy it.
In the end I love silver and really want more of it! If you like straight up bullion I wish you the best of luck. Not being sarcastic at all. Everyone should know their own risk tolerance so that if a drop happens you won't freak out.