Gold and coin questions?
im 16 years old and im a coin collector
i have been buying gold when ever i get the chance i have about .85 oz of gold. also i have a complete mercury dime set including the 1916-d i saved for over 6 months for it.
should i keep buying gold or work on my barber dime collection and try to complete that
im looking to invest and sell this when i graduate and sell for college
what will help me more in the long run?
also i have 2 ten oz bars of silver and about 10 1 oz bars of silver should i keep buying silver too?
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March 5th, 2009 at 4:25 am
Have you checked on the historical appreciation of coins?? That is where I would start. The bullion gold & silver is another question. I believe gold hit 800 dollars an ounce in the early 80's. And took nearly 20+ years to surpass that level. Silver hit 50 dollars an ounce - also in the early 80's. Twenty five years later, it is still only 1/5 of it's previous high.
I guess what I am trying to say, is that gold and silver bullion is a poor investment (in my opinion). For myself, saving for the future, I use mutual funds and a few stocks. And I say that as someone who collects Morgan silver dollars. My prize coin is an 1895 O. But my Morgan dollars are a hobby & fun, but not really a way to save for the future. Just my take.