Hi All,
I have an offer to buy a limited edition coin, (only 1,000 coins made) of this coin
for $850 from the Mint themselves.
Should I buy it?
Coin Year - 2023
Denomination - $25
Mass - 0.2ounces (yes, that's all it is)
Mintage 1000
Looking forward to your advice and what else I can do to better safely invest $850.
Thanks!
Numismatic value is not actual value.. steer clear
Looking forward to your advice and what else I can do to better safely invest $850.
BTC gone back up to 30k USD
5 months ago it was 15k , that's 100% gain.
15 months ago it was 65k , that's 50% loss.
BTC can be threatened by the US. In the end a gold coin is a gold coin.
Rektrading is that you?
I think the price is not really the debate. It is where you actually had your BTC? Celcius, Voyager, FTX? Maybe you got liquidated because you were trading leveraged.
I guess my $50 is now worth $100. Life changing 100% gain, because I have something to brag about at a BBQ.
Definitely do not buy. Gold coins have a small collector base. Just checkout the 2022 $25 coin. Values just not there
I think it's cool. If you like it as an object then I'd buy it. It'll always have its value as solid gold which someone says is about $600 right now. Maybe one day we'll mine a solid gold asteroid or all the world's gold reserves will be released at once or whatever, but meh, I bet holding that solid gold coin in your hands would feel awesome. I bet holding five of them at once feels even cooler…
And it'll always be wort at least the face value of $25 too.
Maybe if they throw in some steak knives.
i dont and i doubt the masses on Ozbargain dont either have any clue about Coins
buying Coins should be a 'hobby' - although i know some coins so 'skyrocket' in value to buy a coin and 'hope it appreciates' is probably as, if not more speculative then buying some random crypto-currency and hoping it moons….
if you like the coin buy it, if you are buying it to solely make money [investment ] i personally wouldn't….
40 years from now who knows what the Chinese who'll live here will like to collect.
They tend to like sneakers.
Yeah I guess. 100 years ago stamp collecting was still a popular hobby with kids, so rare stamps were very valuable in the 90s. And kids today love collecting sneakers so maybe rare sneakers will be worth millions by the time we all reach old age.
Indians tend to love gold, and there are lot of them around. Gold is also sought after in China and of course elsewhere. People have been coveting gold for thousands of years, so I don't think demand for it is going to disappear: https://www.thesun.co.uk/tech/20839582/ancient-egyptian-tomb…
As for stamps, sneakers, funko pops, pokemon cards, etc, they all have a collecting history ranging from a few years to decades.
“[Gold] gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.” — Warren Buffett
Have you seen the mess that the Perth mint are in at the moment. look it up not much they haven't done wrong but sell dirt as gold.
I can wear my bikie jacket and get gold no questions asked. It's good for me.
The allegations made it sound like Perth Mint was selling fake gold bars. It didn't help that news.com.au jumped onto the story and inexplicably merged it with a story of a bikie buying gold at Perth Mint.
Here is PM's response to the matter:
https://www.perthmint.com/news/media-announcements/corporate…
Coins such as this should really only be purchased "if you like them". Most of these coins are only truly worth the value of the metal over time. This goes up and down, but from an investment perspective, you'll always be able to buy the equivalent amount of metal more cheaply.
Look at the history . 1 went grt 2019 and all of the other don't even get RRP Rubbish ballot .
$2 coloured coins only . Although I think they have boomed too much . Next is 50c and $1 coloured coins that have hardly moved yet .
Just put it into index funds. Very easy to sell and diversifies your portfolio, reducing individual risk. Buying a gold cold, especially a limited edition one, makes you pay a premium over the value of the gold.
You're better off buying a small gold bar or a more more international recognised coin like a silver eagle, silver maple leaf or silver philharmonic. You get very little value from buying a limited edition coin.
Hi, where is a good place to read up further on 'index funds'?
Don't know where to read up on them, guess you can google it. However the easiest and cheapest way to invest is apply for superhero account and buy VAS (top 300 ASX companies) which will cost $0 brokerage to buy and $5 to sell. This allows you to invest in small increments when you paycheck comes in.
Off topic. Where do you guys buy your bullion? ABC?
If you want an actual investment, I wouldn't recommend it. The only people who'd probably want to buy that off you would probably be coin collectors.
You can buy 0.25oz of pure gold in Perth Mint bullion coin form for about $830 right now from various bullion dealers. Don't buy 0.2oz for $1250.
When you go to sell this coin you will get the melt price of gold for it. Numismatic value means nothing to coin and bullion dealers, as these coins are not rare. It doesn't matter that only 1000 were made if there's no high demand for them.
$850 is not much to invest. I would put it in a bank like ING and get 5%pa on it.
I worked with a guy really into gold and bough coins all the time. I would hate to think how much gold he kept in his house. It was his primary investing and saving strategy.
He said the limited edition coins are for suckers. All you should be looking at is the gold amount in the coin compared to the gold price. These coins may be limited edition but there are so many other limited edition coins that it has lost all meaning. Buying a generic coin that is closer to the gold price is a much smarter investment.
I think what you want is a Bullion coin, not a Collector Coin.
For example 2 of these is the same amount of gold for much less - https://www.perthmint.com/shop/bullion/bullion-coins/austral…
In this case about $535 work of gold for $850 is not a great deal.
Buy gold bullion for investment. Buy coins if you like them.
Thanks all.
Looks like the overwhelming majority is a solid NO.
This is great feedback, because the way they sell it, it gives me a little bit of FOMO.
So I will look at other ways to invest my $1k. I will reply in more detail to each person as needed, cheers for your time and input everyone! 😀
The video in your link is also quite valuable.
Thank you sir/ma'am!
Hi I am thinking of regularly buying Australian gold coins as a long term investment.
Is there a better way of buying small amounts of gold?
Is gold a good long term investment?
Thanks in advance
Cheers. Hol
It guess it has been more than a month since it was last asked ( https://www.ozbargain.com.au/node/764206 )
Does gold compound annually at 7-10% per year?
Investment for what?
Hedging against currency? Mass stock market failure? Total wordwide financial collapse with the assumption you'll be trading with the bandits down the road in gold coins?
Example trend.. Do you think gold was a wise investment choice say, 10 years ago? or 20 years ago? and do you think whatever current trend would continue?
a 10 year trend would say no, a 20 year trend may say yes.
In 2023 the average closing price of gold has been $1,929.86. In 2013 it was $1,409.51. In 2003 it was $363.83.
Which really tells us nothing unless you compare it to other asset classes.
For example, if one multiplied an Australian share portfolio worth $363.83 in 2003 by average annual stock market returns of 9.8%, compounding, the portfolio would be worth about $2360.18 today.
you'll be trading with the bandits down the road in gold coins?
In this scenario I often think if I had anything of value to trade and I approached bandits to trade, whats stopping them from shooting me in the face and taking my stuff anyway lol
If you think the gold value will go up more than the premium charged on the coins and more than inflation, then it's a pretty safe bet for the gold value alone. Why not just buy gold though?
This mob have good prices but the buy/sell spread at all the gold dealers is quite wide. IMO, you have to sit on your investment quite a while just to bridge that gap.
There's also the issue of security and where to store the gold.
No issue with having some gold in your portfolio as a defensive asset, just don’t make it the majority of your portfolio.
Also depends on your age and investment timeline. If you’re young you ideally want to have most of your investments in growth assets.
At current spot price, 0.2 oz is worth what? Sub $600
Up to you if you think the coins limited edition is somehow worth a 40% premium
To me, nope, not worth it.
High interest savings account if you want to use the word safely and $850 is a sizeable value to you