GOLD

[THEBIGMAN]

shamelessly nicked from hpc - enjoy

 

that's a clean pair of underpants you owe me

[DoctorSolar]

Brown sold half the coutries gold at the bottom of the market but not to worry fellow UK residents!

 

Huge Anglo-Saxon gold hoard found

 

The UK's largest haul of Anglo-Saxon gold has been discovered buried beneath a field in Staffordshire.

 

[grumpy-old-man]

Brown sold half the coutries gold at the bottom of the market but not to worry fellow UK residents!

 

Huge Anglo-Saxon gold hoard found

 

 

 

 

 

so let me get this straight.

 

this metal detecting guy finds a huge hoard of gold & silver & the first thing he does is contact the authorities to tell them ?

totally speechless. :blink:

 

 

[warpig]

Wow. I wonder how much he'll be rewarded for his find.

 

Brown sold half the coutries gold at the bottom of the market but not to worry fellow UK residents!

 

Huge Anglo-Saxon gold hoard found

 

 

 

[HPCSucks]

Wow. I wonder how much he'll be rewarded for his find.

A nice pile of paper probably.

[DoctorSolar]

A nice pile of paper probably.

As predicted by Dr B (?) and others, GBP is falling as fast/faster than Gold.

All of which totally validates the do not wait for a dip if you are holding GBP approach.

You could of course convert to USD and then to gold later but this is a big risk for someone who does not have a core position yet.

[InternationalRockSuperstar]

so let me get this straight.

 

this metal detecting guy finds a huge hoard of gold & silver & the first thing he does is contact the authorities to tell them ?

totally speechless. :blink:

 

what a numpty!

[grumpy-old-man]

what a numpty!

 

 

btw, I have noticed that my (& many other blokes, c'mon own up you all know it's true, much the same as the cowboy gunslinger one ) long standing twice a year dream of finding a suitcase full of money, has now changed to finding a hoard of silver & gold.

 

have I entered a new dream realm ?

[azazel]

5kg of gold and 2.5kg of silver is "worth" about £104,000. That would buy you a little studio flat. I bet the guy who buried it 1300 years ago was a wealthy man but would be disapointed how his investment had done over the last 1300 years! It goes to show how cheap gold and silver are now.

[jamesspeed]

As predicted by Dr B (?) and others, GBP is falling as fast/faster than Gold.

All of which totally validates the do not wait for a dip if you are holding GBP approach.

You could of course convert to USD and then to gold later but this is a big risk for someone who does not have a core position yet.

 

 

If you are invested in Sterling - which, at this time, is the best to convert to $ short term ? , Euro ? , or something in Asia ?

[romans holiday]

As predicted by Dr B (?) and others, GBP is falling as fast/faster than Gold.

All of which totally validates the do not wait for a dip if you are holding GBP approach.

You could of course convert to USD and then to gold later but this is a big risk for someone who does not have a core position yet.

I have often hammered away on this point. If you are looking to take advantage of a possible dip in gold, you have to be in a currency which will strengthen not weaken on the risk aversion/ deflation trade.... currencies that weaken are likely to weaken more than gold and hence a futile exercise.

 

Currencies you do not want to be waiting in would include besides the pound, the Aussie and kiwi dollars. The currencies to have would be the US dollar [hold your nose] and Yen.

[Pixel8r]

The currencies to have would be the US dollar [hold your nose] and Yen.

Also not forgetting the ultimate currency of Gold.

 

 

[romans holiday]

If you are invested in Sterling - which, at this time, is the best to convert to $ short term ? , Euro ? , or something in Asia ?

I assume you already have a good position in bullion. The Yen is good but expensive now.... so is the Euro.... hmmm that only leaves one and that looking cheap at the moment.

 

The other thing you could always do is diversify your extra-metal funds between these currencies.

[romans holiday]

Also not forgetting the ultimate currency of Gold.

Which goes without saying...especially given the context of the post.

[G0ldfinger]

The London AM Gold Fixing was at $1,014, i.e. no one is willing to separate from gold for less than $1,014/oz this morning.

[G0ldfinger]

5kg of gold and 2.5kg of silver is "worth" about £104,000. That would buy you a little studio flat. I bet the guy who buried it 1300 years ago was a wealthy man but would be disapointed how his investment had done over the last 1300 years! It goes to show how cheap gold and silver are now.

+1.

[andrew]

This is the point where I'm very tempted to buy more gold.

 

* Its clearly still in a long term bull market

 

* Has crossed the important $1000 mark and seems to be staying over it

 

* Big reverse H and S formation that has brocken above the neck line on the monthly chart

 

* A nice long consolidation period since march '08 having worn down expectations

 

* Gold still not in the main stream media except 'tin foil hat type storys'

 

* A gold dealer told me last week that goldman sachs dealers were comming in and buying kg. bars, but the general public selling small items and scrap

 

* I feel uncomfortable buying now (strangely in the past usually a good sign)

 

So if I'm buying expect a price fall

 

I'll get my tin foil hat

[The Mad Hatter]

5kg of gold and 2.5kg of silver is "worth" about £104,000. That would buy you a little studio flat. I bet the guy who buried it 1300 years ago was a wealthy man but would be disapointed how his investment had done over the last 1300 years! It goes to show how cheap gold and silver are now.

 

I disagree. I think he'd be staggered by the fact that it had:

• Hot and cold running water
• A privvy
• Magic lights
• An oven that doesn't need a fire
• Somewhere to have a bath more than once a month
• A cool place for storing your ale
• A cupboard where it is always winter
• Huge clear glass windows that you can see out of
• No damp
• No rats
• No black death
• A dedicated cart parking space

 

A bargain in exchange for a few bits of bling.

 

 

[grumpy-old-man]

I disagree. I think he'd be staggered by the fact that it had:

• Hot and cold running water
• A privvy
• Magic lights
• An oven that doesn't need a fire
• Somewhere to have a bath more than once a month
• A cool place for storing your ale
• A cupboard where it is always winter
• Huge clear glass windows that you can see out of
• No damp
• No rats
• No black death
• A dedicated cart parking space

 

A bargain in exchange for a few bits of bling.

 

I presume you are not from the North then ?

 

edited - sorry guys, I know I keep going on about the North, but it's sh1te, cold, miserable & most of the people are thick......I am counting down the weeks to our relocation, ala prison style on an imaginary wall.

[id5]

I presume you are not from the North then ?

 

edited - sorry guys, I know I keep going on about the North, but it's sh1te, cold, miserable & most of the people are thick......I am counting down the weeks to our relocation, ala prison style on an imaginary wall.

I hope that you end up in a place you like down south GOM because if not then I think that your long suffering wife may snap and do you in

[grumpy-old-man]

I hope that you end up in a place you like down south GOM because if not then I think that your long suffering wife may snap and do you in

 

 

this topic has been discussed on many an occasion.

 

I only recently allowed sharp knives back into the kitchen.

 

on a serious note, it is a joint decision.

 

 

warnign GOM anecdotal alert:

 

I am having a classic car restored for Mrs GOM (not expensive one, under 10k) & we seriously discussed waiting until next year to do it because it just seems wasted in Wakefield. The problem is I don't want any cash in the bank, so we have decided to go ahead now. The house I rent has an unlockable sh1tty garage, the landlord has said that he can't fix it because a lot of his renters are not paying their rent. He has told me that he has a 7 million pound portfolio (so he told me), he does not know my stance on all things economic/financial.

 

he was telling me a story about 2 friends of his who are very big in property. One guy had a huge mansion near Harrogate iirc, own helicopter pad etc, acres 7 acres of land. He had been in the property game for a long time, very experienced. He said he was made bankrupt last year (might have been this year actually, I can't remember that bit exactly). The bit that really stuck in my mind was that he was now living in a 2 bed rented terraced house. I kid you not, he lost everything. In his 50's iirc.

 

I could tell by the landlord's face that he was feeling his friends pain. I am very sure he is in the same boat. I can't tell you his business as it might give a link back to me, they (him & his girlfirend) drive the usual his'n'hers black Range Rover Vogues, kids @ private school etc.........he sounds very street wise but uneducated. Good people skills though imo, very user friendly, until you actually need him to fix or pay for something that is.

 

I reckon he will be bankrupt next year.......or well on his way. He told me way too much about his business & his friends business. I didn't know this guy at all........he was very worried, I can spot the signs.

 

I think that when it does happen it will be lighting fast & almost everyone at the same time, that's how over leveraged people are, living off credit cards etc.

 

I am actually having to rent my neighbours garage as she doesn't use it & lives on her own.

 

edited - to keep on topic my victoria sovs arrived today, all the same bar one, which has a different design on the back. They are a nice looking coin aren't they ?

edit 2 - on closer inspection (as I type) there appear to be 2 types of queens head on them, but the same design on the back. (a sword clasping soldier on a horse). But 1 coin is completely different to all the rest, with a coat of arms on the back

[nicejim]

* A gold dealer told me last week that goldman sachs dealers were comming in and buying kg. bars, but the general public selling small items and scrap

That's a big one. Where are they - what currency?

 

warnign GOM anecdotal alert:

 

--

 

edited - to keep on topic my victoria sovs arrived today, all the same bar one, which has a different design on the back. They are a nice looking coin aren't they ?

edit 2 - on closer inspection (as I type) there appear to be 2 types of queens head on them, but the same design on the back. (a sword clasping soldier on a horse). But 1 coin is completely different to all the rest, with a coat of arms on the back

Is £7million net or does he forget about the leverage?

 

I take it you mean the shield design. I have a few halfs like that, they'll be the last to be sold. The soldier is St George, slaying a dragon.

 

 

Bootiful...

http://www.westminstercollection.com/pc_K744.htm

My halfs have a fancy border to the shield instead of the laurel.

[G0ldfinger]

... The soldier is St George, slaying a dragon. ...

GOM is clearly new to Sovs. After all, they have been like this since 1817!

 

http://www.goldsovereigns.co.uk/modernsovereign.html

[grumpy-old-man]

That's a big one. Where are they - what currency?

 

 

Is £7million net or does he forget about the leverage?

 

don't know tbh....I think even if he was lying (which he prob was), let's say it was 4-5 million of 2007 peak worth, I am guessing he is very leveraged. The place I am in was on the market. He bought it as a flip, but couldn't sell it. It was up for rent for months apparently.

 

 

I take it you mean the shield design. I have a few halfs like that, they'll be the last to be sold. The soldier is St George, slaying a dragon.

 

 

Bootiful...

http://www.westminstercollection.com/pc_K744.htm

My halfs have a fancy border to the shield instead of the laurel.

 

yes, that's the one on it's own. This one has the laurel. St George eh, showing my education there, or lack of it.

I feel like scrooge at the moment, lining up ma sovs (remember where he is stacking up his coins)

 

a range of dates, 1898, 1896, 1872......just picking a few up.

 

[grumpy-old-man]

GOM is clearly new to Sovs. After all, they have been like this since 1817!

 

GF, they have St George on the back slaying a dragon, but without the words around the edge, there is nothing else just St George. On the front I assume the 2 types are of Queen Victoria, just different designs. I find a link.....

 

I haven't got our camera today as Mrs GOM has taken it into school.

 

here's a better one, front & back:

 

 

this is the sigle one on its own:

 

 

ah ha, here's the other design: