Sold 1/2 my gold today

[Appatite]

That title sure makes it sound good don't it.

In 1997, right out of college, in debt, just married and just starting out in a job, I bought 4 pieces of gold. Small pieces. A 1910 2.5 dollar American gold coin, a 1997 Commemorative 5 dollar gold coin, a 1945 2 1/2 Pesos Mexican gold coin and a 1/10 oz Krugerrand.

Gold was about $340/oz. I bought the Krugerrand for $38 and the 2 1/2 pesos for $26. There is actually about 8 hours left on ebay for my items but as of right now the Krugerrand is at $185 and the Pesos is at $105. So for holding these for 14 years I will make an annual profit of between 11% and 12.5%.

I'm holding off selling the 1997 commemorative gold coin but I have seen it listed at $450. I paid $100.

All I can say is that in 12-15 years I will be buying more gold. No. seriously. About that time I'll be about 55. About 12-15 years from then the gold market should spike again. This time though I'll be investing a lot more into gold.

 

[tsptalk]

Nice investments! In the late 90's I was telling a co-worker that gold is not an investment. It's a safety net. So much for that thinking. He bought some coins - I didn't.

There is a lady on CNBC as I write this predicting $5200 gold by 2018.

 

[Happy_Trails]

Nice investments! In the late 90's I was telling a co-worker that gold is not an investment. It's a safety net. So much for that thinking. He bought some coins - I didn't.

There is a lady on CNBC as I write this predicting $5200 gold by 2018.

These kind of predictions usually happen during bubbles - do you think gold is a bubble waiting to burst?

 

[jpcavin]

I am sure that if I invested in gold, we would see another major sell off!

 

[Appatite]

I am fairly confident that this is the next bubble. When it bursts is anybodys guess though. Could it hit $5000? I dunno. What I do know is that unlike the dot-com bubble, there really is only so much ACTUAL gold out there. It is the paper gold I am more worried about bursting. But then again, I don't own any of that.

 

[FundSurfer]

If you sold half, then you are half right. Whether gold goes up or down, you will be half right.

 

[konakathy]

Tonight, Gold is at $1915! I'm seriously thinking of selling some of mine and buying that new car.