headmelter Posted March 15, 2008 Report Share Posted March 15, 2008 Opinions appreciated. 1st purchase. I have £5k and want to buy some coins, probably 1oz krugs. I have made enquiries and may go with chard. Two things. 1. I had planned to make my 1st purchase when the spot price was $900 but held off believing there would be a pull back. it never really came. what is the probability of a pullback now as opposed to a continued rise. 2. Anyone here used chards, if so are they ok? FWIW I expect it will be a purchase I will keep for probably 5 years so should I just dive in now? Link to comment Share on other sites More sharing options...
Compounded Posted March 15, 2008 Report Share Posted March 15, 2008 Opinions appreciated. 1st purchase.I have £5k and want to buy some coins, probably 1oz krugs. I have made enquiries and may go with chard. Two things. 1. I had planned to make my 1st purchase when the spot price was $900 but held off believing there would be a pull back. it never really came. what is the probability of a pullback now as opposed to a continued rise. 2. Anyone here used chards, if so are they ok? FWIW I expect it will be a purchase I will keep for probably 5 years so should I just dive in now? I have used them and highly recommend them. Telephoned order, sent cheque coins arrived about 2 weeks later. Link to comment Share on other sites More sharing options...
azazel Posted March 15, 2008 Report Share Posted March 15, 2008 I think I joined and introduced myself then just lurked several people were highly motivated to persue him and nothing much came of it. They were listed on ebay - ebay offer insurance only if payment is made by PayPal, this chap wanted cheque only which did not seem that unusual as I had already bought a couple of Krugers from buyers with cheques. I havent bought gold on ebay since as Coininvestdirect, Chard and Goldline offer a simple and reliable service its not necessary to take the risk. It could be an awful lot worse, I might well have never found out about gold investing at all, that was a complete fluke, I was thinking BTL but felt quite sceptical about it and unsure of why. I visited HPC with a genuine enquiring attitude about BTL. I rapidly learnt BTL is a dead loss. I think it was about the time GF joined and the gold thread really got going, the subjects of high finance, history of money etc. are something I had never thought about at all but they really interested me especially as it became more and more plain that I really did need to protect myself from a greed driven dishonest financial system thats falling apart. Thing is I would never ever have found this thread here. Interesting story. I would not pay by cheque on ebay. Only paypal or collection. Ive noticed that paypal sellers get better prices so its worth paying their commission when selling. Coininvestdirect.com seem to be very good. I'm hoping they will advertise here to help out DrBubb and their website is a good reference for prices. Chard were expensive I thought. I used ATS but in hindsight they were expensive too. Perhaps I should have haggles more or used coininvestdirect.com for my main purchase. I got some sovereigns on Ebay. I know what sovereigns look like as I already have quite a few form ATS. I got this half sovereign on ebay thats dated 1982 and its very new looking. The thing is its more yellow than the others. Looks more like 24K than the coppery tinted 22K ones. It weighs about right at 4g and feels and sounds right too. Anyone got any thoughts? Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 16, 2008 Author Report Share Posted March 16, 2008 Chards other site '24carat' are selling 10 kilo bags of scrap 50% silver coins, they may sell in smaller quantities but they would probably be at a higher premium. http://24carat.co.uk/silverinvestmentbagsframe.html That's exactly what I was looking for. Cheers! Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 16, 2008 Author Report Share Posted March 16, 2008 ... ... This chart above is misleading. The one below is much better. Or this one: http://bp0.blogger.com/_nSTO-vZpSgc/RpPkrX...ss-cpi-gold.png Link to comment Share on other sites More sharing options...
wren Posted March 16, 2008 Report Share Posted March 16, 2008 High food inflation in America: With a few exceptions, nearly every grocery category measured by the Labor Department, which compiles the official inflation numbers, has increased in the last year. Milk is up 17 percent, as are dried beans, peas and lentils. Cheese is up 15 percent, rice and pasta 13 percent, and bread 12 percent. No food product has gone up as much as eggs, jumping 25 percent since February 2007 and 62 percent in the last two years. NY Times: http://www.nytimes.com/2008/03/15/business...amp;oref=slogin Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 16, 2008 Author Report Share Posted March 16, 2008 For all those who think silver is expensive: http://bp2.blogger.com/_nSTO-vZpSgc/RpPk53...-cpi-silver.png Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 16, 2008 Author Report Share Posted March 16, 2008 Just read an article that CITIC now thinks (are they really so stupid that they only realize now?) that Bear Stearns is a turd. They don't wanna give them those billions anymore. Oh well, I guess the Fed will print some instead. Link to comment Share on other sites More sharing options...
godless Posted March 16, 2008 Report Share Posted March 16, 2008 Here's the book in PDF at the Von Mises institute, its quite short, takes about an hour to read and is well worth the effort. It gives you an understanding of how society and governments treat people who keep their assets abroad or hold gold in a hyper inflationary environment also how business grinds to a halt rather than accepting worthless paper money. When I read first read it I was reminded of the situation in Zimbabwe and how the government seized farms after the owners stopped producing crops for depreciating currency. http://www.mises.org/books/inflationinfrance.pdf Nice one enrieb, will read later, cheers Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 16, 2008 Author Report Share Posted March 16, 2008 I always thought that this would happen: (1) The US will boycott the Chinese Olympics. (2) China won't help the US anymore to finance their deficit. (3) The US will see the greatest economic/hyperinflationary slump ever. (4) China will invade Taiwan since the US will have other more urgent problems at the time. Link to comment Share on other sites More sharing options...
headmelter Posted March 16, 2008 Report Share Posted March 16, 2008 On the coininvest site there are three prices quoted. What are the Netto and Brutto prices? Link to comment Share on other sites More sharing options...
mongoose Posted March 16, 2008 Report Share Posted March 16, 2008 Could it be more to do with geopolitical factors. 1st spike Oil embargo following Yom Kippur war of October 1973 The 1973 oil crisis began on October 17, 1973, when the members of Organization of Arab Petroleum Exporting Countries (OAPEC, consisting of the Arab members of OPEC plus Egypt and Syria) announced, as a result of the ongoing Yom Kippur War, that they would no longer ship oil to nations that had supported Israel in its conflict with Syria and Egypt (the United States, its allies in Western Europe, and Japan). 2nd spike Iran revolution, Saddam invaded Iran, Soviets invaded Afghanistan. The 1979 (or second) oil crisis in the United States occurred in the wake of the Iranian Revolution. Amid massive protests, the Shah of Iran, Mohammad Reza Pahlavi, fled his country in early 1979, allowing Ayatollah Khomeini to gain control. The protests shattered the Iranian oil sector. While the new regime resumed oil exports, it was inconsistent and at a lower volume, forcing prices to go up. Saudi Arabia and other OPEC nations, under the presidency of Dr. Mana Alotaiba increased production to offset the decline, and the overall loss in production was about 4 percent Oil and gold prices do tend to move together. Is peak oil bullish for gold? Thanks, I'll dig deeper around the oil factor. Any comments on the reason for the fairly long correction though? Or was it just that the oil events subsided? Link to comment Share on other sites More sharing options...
mongoose Posted March 16, 2008 Report Share Posted March 16, 2008 This chart above is misleading. The one below is much better. Or this one: http://bp0.blogger.com/_nSTO-vZpSgc/RpPkrX...ss-cpi-gold.png Not misleading, just not inflation adjusted. I do prefer your graphs though, as our current price levels are still well below the historic inflation adjusted peak. I take it your bottom graph is from Shadow Stats? Any comment on the reason for the 1975-76 correction and your thoughts on the size of any possible correction now? Or are we beyond that point? Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 16, 2008 Author Report Share Posted March 16, 2008 House prices in gold in the US: Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 16, 2008 Author Report Share Posted March 16, 2008 ...I take it your bottom graph is from Shadow Stats? Any comment on the reason for the 1975-76 correction and your thoughts on the size of any possible correction now? Or are we beyond that point? (1) Yes. (2) Compounded pointed out how this was a period between two crisis situations (oil crisis 1/2 basically). We may see something like it (see also Jim Puplava's Orio cookie theory), but I somewhat doubt that any correction would be similarly serious. Link to comment Share on other sites More sharing options...
mongoose Posted March 16, 2008 Report Share Posted March 16, 2008 On the coininvest site there are three prices quoted.What are the Netto and Brutto prices? Netto is not including VAT, Brutto is including VAT Brutto is what you will pay. Link to comment Share on other sites More sharing options...
Compounded Posted March 16, 2008 Report Share Posted March 16, 2008 Thanks, I'll dig deeper around the oil factor. Any comments on the reason for the fairly long correction though? Or was it just that the oil events subsided? The oil price did not fall significantly in the period between the two oil shocks, however the gold price did. I seem to remember OPEC agreed to adjust production so the price remained more or less steady. Perhaps fear was a big mover of the gold price. (2) Compounded pointed out how this was a period between two crisis situations (oil crisis 1/2 basically). We may see something like it (see also Jim Puplava's Orio cookie theory), but I somewhat doubt that any correction would be similarly serious. I agree, the banking mess is not going to subside quickly and looks as though its going to get alot worse. This has got me thinking about peak oil +In both oil shocks oil production fell by 3-5% but growth in oil output soon recovered. +Oil production probably peaked in 2005 and as oil production follows a bell curve it is not changing much yet. +In five years time it is estimated that oil production will be falling by 3% every year. +Oil shortage spells higher prices for oil which is inflationary. (Bullish for gold) +With a demographic crisis as well as the credit bubble busting and the oil price rising it looks as though the recession will be long and painful. +An oil crisis is typically very bullish for gold. Sorry if off topic. Link to comment Share on other sites More sharing options...
wren Posted March 16, 2008 Report Share Posted March 16, 2008 This is how gold bears could end up. Link to comment Share on other sites More sharing options...
qwerty Posted March 16, 2008 Report Share Posted March 16, 2008 For Wren in best dialect. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted March 16, 2008 Report Share Posted March 16, 2008 This is how gold bears could end up. :lol: :lol: :lol: Link to comment Share on other sites More sharing options...
Steve Netwriter Posted March 16, 2008 Report Share Posted March 16, 2008 For all those who think silver is expensive: http://bp2.blogger.com/_nSTO-vZpSgc/RpPk53...-cpi-silver.png Excellent chart Link to comment Share on other sites More sharing options...
goldenbee Posted March 16, 2008 Report Share Posted March 16, 2008 Ok, another quick question about CoinInvestDirect.com It's Saturday today, if I place an order, when will it arrive? There's only 4 working days between now and the Easter weekend, so would it be before or after the weekend? And I got as far as the checkout page, where I input my delivery address, but was a bit scared clicking the button underneath to complete the order. What happens after that? Is that the last screen? Have I completed my order at that stage? I'd like to get it delivered to my work address... does it get delivered by a courier company? Where's the option to add postal insurance? Or don't I need that if its being delivered by a courier? Which courier company is used? What hours do they deliver between? Hopefully they don't turn up at a business address too early or too late in the day when no-one's there! And when they invoice me, how do I pay that? Do they supply an account number for me to do a bank transfer (via online banking)? Or do I phone them with my debit card details? Their T&C says I've only got 3 days to pay them after receiving the invoice... is the invoice in the package with the coins, or mailed separately? Or is it mailed first, and I have to pay first before they even dispatch my order???? So many questions... hopefully all the right answers forthcoming to put me at ease... Can't see a reply so I'll give you my experience. 1)Ordered in Euros by mistake on the Tuesday 2)Eventually found thier invoice in my junk mail on the Friday 3)Rang them and said I wanted to pay but not in Euros. 4)I went to HSBC and deposited £ in their account 4.45pm (Just in time before the bank closed) 5)Notified them of payment by E-mail 6)They confirmed release on the Monday 7)UPS delivered 10.00am Wednesday Hope that helps. kb Link to comment Share on other sites More sharing options...
consa Posted March 16, 2008 Report Share Posted March 16, 2008 1 poster, zzg113, cut back altogether, and disappeared, as far as I know. Does anyone know what happened to him?? ???? don't know, he was knowledgable, he is registered on GHPC but only rarely posted, I will let you know if he pops in Link to comment Share on other sites More sharing options...
Steve Netwriter Posted March 16, 2008 Report Share Posted March 16, 2008 This is quite some article. If you read it right through you might get to feel the true enormity of what is happening at the moment. It's not every day people talk seriously about "world financial collapse". Central Banks $2.5 Trillion Money Supply Fails to Stop Global Deleveraging http://www.marketoracle.co.uk/Article4016.html At some point, I expect one of the central banks among the ECB or BOJ to give up on the reflation efforts (to counteract the deleveraging.) At some point, they will realize that the efforts to stop the deleveraging is futile, and only adding to public debt, and just making things worse. At that point, everything just finishes unwinding rapidly. It will be very very scary for everyone and every country. The implications are really rather staggering. . . The only thing standing in the way of a total world financial collapse right now is all this massive emergency lending by central banks to financial institutions. That means that, when enough big investors realize there will be no economic recovery from cutting interest rates this time, the stock markets will finally collapse big. I expect this to happen sometime this year, election or no election. The problems are just too big. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted March 16, 2008 Report Share Posted March 16, 2008 The Schiff Has Hit the Fan !!!! Peter Schiff March 14 2008 Fox Business News - Cavuto http://www.europac.net/Schiff-FBN-3-14-08_lg.asp Watch and enjoy Link to comment Share on other sites More sharing options...
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