Your Last Chance to Buy Cheap Gold
Filed Under: Commentary and Opinion, Gold & Silver Bullion, Press Releases, US Coins
BALTIMORE, Jan. 8 /PRNewswire/ — The following statement was written by Tom Dyson, who is a frequent contributor to www.DailyWealth.com, one of America’s most widely read financial e-letters.
Yesterday, I spoke to my coin dealer, Van Simmons. “It’s staggering what’s going on in the coin market right now…” said Simmons.
Spot gold prices yesterday hit their highest prices in history … $870 an ounce. Gold investors are euphoric. They’ve waited 28 years for this moment. Van Simmons sells mint-condition vintage gold coins. The U.S. government minted these gold coins pre-1933.
In theory, these vintage gold coins are “leveraged” to the spot gold price. They are in such short supply, when gold goes up 10%, they tend to go up much faster in price … at least, that’s what used to happen. Here’s the reason Van Simmons is so flabbergasted: Even though gold has risen 228% in the last six years and is shooting through the roof right now, gold coin prices are sedate.
In fact, right now, gold coin prices are the lowest they’ve ever been relative to the spot price of gold. Prices of benchmark vintage gold coins in mint condition are all cheaper today than over the last 18 months and most of them are only trading slightly above their lows of December 2006.
These rare gold coins represent the last opportunity to buy gold at ground floor prices. Gold bullion has tripled. But vintage gold coins are still near their all-time lows.
I think gold is in a bull market and will eventually rise to $2,000 an ounce … maybe more. Several years ago, I set up a gold futures account to bet on this bull market. The problem was, I couldn’t sit still. Every time gold went up $20 an ounce, I wanted to sell. And every time it fell $20 an ounce, I couldn’t sleep.
Gold coins fixed this problem. In sum, vintage gold coins are the last cheap investment in gold. I expect to make thousands of percent returns on my investment as the gold bull market unfolds … and still be able to sleep at night. However, you must act fast. Simmons tells me prices are finally beginning to move upward and for the first time in years, he’s having trouble finding the gold coins he wants…
Good investing,
Tom Dyson, editor, The 12% Letter and contributor to www.DailyWealth.com
Annie Greer, Marketing Manager of www.DailyWealth.com, +1-410-864-1713, agreer@stansberryresearch.com
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