All the Gold ever extracted is 160,000 tons (in 2009) , The American Debt = 14 Trillion Dollars = 1.8 All the Gold ever extracted in Human History !!! The monetary mass in the US is increasing by 15% a year ! Total gold divided by people in the world gives each of us 23 grams
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Saturday, July 9, 2011

Numismatic vs Bullion Gold coins Explained by Peter Schiff

Peter Schiff : ...I do not even know why would people double in Numismatics , It is totally different than buying Gold , buying numismatic has as much in common with buying Gold as collecting stamps , or buying works of art or buying rare Samurai swords or baseball cards , it is about collectors market it is about buying something that's rare and that people desire for its rarity not for the fact that it got metal , ...if you wanna be a collector and if you enjoy I mean there is certain enjoyment that people can get out of owning rare coins and displaying rare coins and talking to their friends about them , you can get some type of enjoyment from rare coins that may be you can't get from bullion , but you have to understand that those are not the coins that you buy and try to sell in few years and make a profit these are the coins that you wanna hold , if you do it right you may get the right coins the problem is most of the rare coins , collector coins that are being marketed through the major coin firms are not rare at all , they posses no collectors value whatsoever the problem is the buyer does not know that , he is told that they have some kind of special value but the only special value they have is through the firms that are selling them because they mark them up a massive amount , typically now in the industry the mark ups are 50 to a 100 percent so if you buy some of these coins marked up a 100 percent the market needs to double , the price of gold might have to double before you can sell them and get your money back that you put in , and most people do not realise that this is not going to happen ....




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