With High gold prices is anything worth buying?

[londidoh]

I have some spare cash  and I want to buy some gold but  it reaching a high. I am worried that if I buy now and the spot price drops to around £1000 that will be a £300 loss. Is their anything worth buying at the moment, and considering a worldwide recession looks like it is on the cards.

 

I am keeping away rom generic gold but even I don't know if premium gold is worth it, but with a recession on the cards that could even be worse. Any advice or opinions?

 

 

[Guest]

1 minute ago, londidoh said:

I have some spare cash  and I want to buy some gold but  it reaching a high. I am worried that if I buy now and the spot price drops to around £1000 that will be a £300 loss. Is their anything worth buying at the moment, and considering a worldwide recession looks like it is on the cards.

 

I am keeping away rom generic gold but even I don't know if premium gold is worth it, but with a recession on the cards that could even be worse. Any advice or opinions?

 

 

Buy carefully items with both a bullion and a numismatic interest. Many of these items to do not go down so much if the gold price collapses and also are better value when the bullion prices go up. Sovereigns in good condition can be such a buy, some queens beasts, older proof items etc...

[Tattoedamat]

Depends if you planning on holding it.

If in it to buy on the lows sell on the highs then no but gold over time will only go up in value so working on that principle stratiegic buying of premium items possibly worth it

[5huggy]

6 minutes ago, londidoh said:

I have some spare cash  and I want to buy some gold but  it reaching a high

So buy a little at a time! pound/cost average in!

[londidoh]

Ha numistaker watched you videos today I am just looking to buy something that will put away for a few years its not for profit but to Hold the money

[Guest]

You may find this one useful

 

[goldking]

11 minutes ago, londidoh said:

I have some spare cash  and I want to buy some gold but  it reaching a high. I am worried that if I buy now and the spot price drops to around £1000 that will be a £300 loss. Is their anything worth buying at the moment, and considering a worldwide recession looks like it is on the cards.

 

I am keeping away rom generic gold but even I don't know if premium gold is worth it, but with a recession on the cards that could even be worse. Any advice or opinions?

 

 

If the price of gold drops back down to £1000 I'll eat every one of my gold sovereigns, record it and post the video here.

People have been waiting for gold to drop back/under a grand since May last year and all of them are sat there empty-handed still waiting for the day instead of looking at a £300 gain.  They'll probably still be sat there waiting this time next year, and the year after that.

[londidoh]

Thanks for the advice, will just look some good quality coins

[universalcurrency]

Personally, I would stick to bullion coins, whatever you can get for close to spot or under (if your lucky).  By the time you have decided which premium coin to buy, gold will have risen again and you will kick yourself for not buying earlier.

Also with numismatic coins do you have the experience to get back the premium when it comes to sell...

Its much easier to go round local coin shops/antique dealers & fairs, I have picked up quite a few bullion sovs for a bit less than spot.

[Auricsstash]

If you are gambling on a worldwide recession bullion is the only stuff to buy. If you are forced to sell you may well end up at a dealer and spot only as the cash for premium stuff disapears as everyone goes broke...

[watchesandwhisky]

It wasnt so long ago that i was buying sovereigns for £185 and 1 oz gold bullion at £800. In fact this time last year i was buying sovereigns at £230... I have seen how fast prices can crash when they do. Numismatics will retain money far better in a price drop. But i guess its all down to outlook and current collection/stack.

 

[Ravoma]

2 hours ago, goldking said:

If the price of gold drops back down to £1000 I'll eat every one of my gold sovereigns, record it and post the video here.

People have been waiting for gold to drop back/under a grand since May last year and all of them are sat there empty-handed still waiting for the day instead of looking at a £300 gain.  They'll probably still be sat there waiting this time next year, and the year after that.

I will remember this 😅. But in all honesty I cant see gold even going as low as 1150-1200 anytime soon or if at all.

[dicker]

26 minutes ago, Madstacks said:

It wasnt so long ago that i was buying sovereigns for £185 and 1 oz gold bullion at £800. In fact this time last year i was buying sovereigns at £230... I have seen how fast prices can crash when they do. Numismatics will retain money far better in a price drop. But i guess its all down to outlook and current collection/stack.

 

  Bang on!  Personally I don’t really collect numismatics but each to his own - I prefer the bullion liquidity.  
 

Best

Dicker

[watchesandwhisky]

Personally I am buying low mintage medals for well above current spot but still a large reduction on original retail - to me they are works of art so it makes it easier to break them away from spot price. 

[daca]

2 hours ago, goldking said:

If the price of gold drops back down to £1000 I'll eat every one of my gold sovereigns, record it and post the video here.

I'll pay money to see this.

[Tattoedamat]

Gold king will be litteraly sh!tting Au lol

[Cornishfarmer]

3 hours ago, londidoh said:

I have some spare cash  and I want to buy some gold but  it reaching a high. I am worried that if I buy now and the spot price drops to around £1000 that will be a £300 loss. Is their anything worth buying at the moment, and considering a worldwide recession looks like it is on the cards.

 

I am keeping away rom generic gold but even I don't know if premium gold is worth it, but with a recession on the cards that could even be worse. Any advice or opinions?

 

 

I was offering so nice coins (10 Oz) over the weekend pandas, lunars etc under spot with only a little interest.    I’d stick to smaller coins because the bigger ones are out a lot of peoples budget 

[Tattoedamat]

Cornish farmer unfortunately those without premium membership can't see those adds for 3 days

[Tape]

I wouldn't buy any gold at the present, it's too high and it will go higher. The last I paid was £980 per oz, I bought 5 Maples at ATS Bullion in Oct '18

[sovereignsteve]

21 minutes ago, Tape said:

I wouldn't buy any gold at the present, it's too high and it will go higher.

surely an oxymoron then?

[Tape]

7 minutes ago, sovereignsteve said:

surely an oxymoron then?

for sure

[Nick1368]

I think now is probably the best time to buy bullion gold because we know for sure there is chaos ahead . 

[Tattoedamat]

3 hours ago, sovereignsteve said:

surely an oxymoron then?

For definite

I'm still buying though to be fair mostly collectors silver bits though the right gold items for the right price wouldn't be missed unfortunately I've blown this quarters p.m. budget  on a new car as killed mine in the floods a couple of weeks ago

[sovereignsteve]

Flooded the engine? Been there done that🤔

[Stuntman]

^^^ Me too - back in 2014.  In my defence, it was due to backwash from a Waitrose delivery lorry.

And yes - I'm still a buyer of gold.