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Old 05-27-2010, 07:21 AM
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Exclamation Greeks paying $1700 per oz of Gold! WOW!

Just got info that Greek citizens are turning in their stocks/bonds for gold
coins, paying the equivalent of $1700 per oz, by buying small denominations
of coins. Article said Vendors waiting outside Greek Stock Exchange to catch
them as they come out with their cash. Also, a hefty Black Market is thriving
in selling gold coins too.
The Greeks are fearing their Government is going to have to default on it's
debts.
I hope anyone who had planned to buy any gold/silver has done so already.
Both metals are up sharply again!
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Old 06-01-2010, 01:50 PM
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Remember, if there is a double dip recession or if joblessness increases, people might be selling and the price will go down, but this will be temporary.
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Old 06-01-2010, 08:59 PM
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Earlybird is that $1700 in US currency?
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Old 06-03-2010, 05:46 AM
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No, I think it was in their own Greek currency. I deleted the article so can't
go back and check.
Saved, I tend to doubt that there will be much selling of gold by US investors.
With any temporary price drops, buyers pile back in again it seems to me. I've
been watching it on an almost daily basis just out of curiosity. I think IF I were
going to buy any gold coins now, I'd go with Numismatic coins as they're not
likely to be confiscated by the Government.
Actually, I prefer Silver at this point because there's much less of it available
and due to it's many industrial and other uses, is more likely to be in short supply
down the road. Plus, it's less costly to purchase.
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Old 06-12-2010, 11:14 AM
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Exclamation Link to Greek gold buying article

https://www.thedailycrux.com/content/4874/Gold

I found it!
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Old 06-12-2010, 11:24 PM
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If a crash comes and gold begins to soar you can bet your boots that all governments are going to fix the price of gold.

At the moment there is a 28% capital gains tax on gold and silver which includes coins. There is a rumour going round that silver eagles aren't classed as silver bullion and wont be taxed which isn't true. You could argue about rarer collectibles coins but IMO they could well be taxed in an emergency situation such as a massive currency crash.

https://www.caseyresearch.com/editori...=CRX178ED0610A

You can reckon that at some stage of a gold rise in a currency crisis, people are going to want to get out before any government imposes a 'crash tax' which could send the price of gold falling like a stone.

In the UK investing in silver is a waste of time. There is a 17.5% value added tax on buying the stuff and in addition the government is proposing a 50% tax on capital gains on any profits.
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Old 06-15-2010, 07:05 AM
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I'm not looking to buy/own gold or silver coins for an Investment; I'm doing so
to be able to spend Silver coins at the Grocery or to buy Gas for my car.
Any Gold coins would be for higher priced items like large Appliances.
Also, to pass on both to my children/grandchildren when I die, free of
Inheritance taxes.
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