Armagedden is here!!!

[RightIsWrong]

This is really a telling sign when investors have more faith in coins than they do the market. With the Dow down another 235+ at the time of this OP....I can't say that I blame them much.

A lot more here

The U.S. Mint said late Monday that it is halting sales of more bullion coins due to unprecedented demand, indicating that retail investors, who can't afford the high cost of trading in the futures markets, have been increasing their holdings of gold coins as a safe haven amid the financial crisis.

"Due to the extreme fluctuating market conditions for 2008, as well as current market conditions, gold and silver demand is unprecedented and the demand for platinum is unusually high," the Mint said in a memorandum released to its authorized purchasers.
The Mint added in the memo that it's halting the production and sales of several gold and platinum coins while putting a few other coins under allocation sales. The move came after the Mint halted sales of two other coins in September and August.

Investors tend to snap up gold as the final tangible asset when the economy falls into turmoil. Some gold dealers said they have seen unprecedented demand for coins and bars as the financial crisis on Wall Street and Europe intensified worries about a global slowdown.

 

[Genx87]

Heh the money coming out of the stock market is going into metals. Which will create a new bubble in that market.

The same patterns happen over and over. Real Estate in the 80s, shit the bed, stock market in the 90s, shit the bed, real estate in the 2000s, shit the bed. Lets get into metals now

 

[RightIsWrong]

It's like a constant roller coaster that takes the economy and the citizens for a ride whether we want to be on it or not. Obviously (I hope) my title is sarcasm as I don't think that this is the sign of all out economic collapse.

It is a pretty strong indicator however that a lot of investors have lost complete faith in the markets and are looking for alternatives. Ultimately, companies are going to lose a lot of funding and will have to make up that money through job cuts and other cost saving mechanisms furthering the slide downward.

 

[StageLeft]

Originally posted by: Genx87
Heh the money coming out of the stock market is going into metals. Which will create a new bubble in that market.

The same patterns happen over and over. Real Estate in the 80s, shit the bed, stock market in the 90s, shit the bed, real estate in the 2000s, shit the bed. Lets get into metals now

Potentialy is definitely there, but I don't really see it bubbleicious yet. Once gold starts getting well above 1000 it would be time to definitely worry about that.

 

[Genx87]

Well yeah you cant stop that investor exuberance for the newest speed bump. The biggest problem imo is the people in the know can work the system and never lose while the rest of us are left hanging our nads. Unfortunately I dont know what can be realistically done without destroying the entire market. I guess if we the avg investor stopped investing all together it could stop it as the professionals would be pitted against themselves. But the simply fact is we the people enjoy the profits these professionals create then piss and moan when they go away. We are as part to blame for these messes as the in the know.

 

[Genx87]

Originally posted by: Skoorb

Originally posted by: Genx87
Heh the money coming out of the stock market is going into metals. Which will create a new bubble in that market.

The same patterns happen over and over. Real Estate in the 80s, shit the bed, stock market in the 90s, shit the bed, real estate in the 2000s, shit the bed. Lets get into metals now

Potentialy is definitely there, but I don't really see it bubbleicious yet. Once gold starts getting well above 1000 it would be time to definitely worry about that.

Yeah I honestly cant prove what I said. But the pattern seems to be the same. But hasnt gold been pretty consisten 10-15% appreciation for the past 2-3 years?

 

[fskimospy]

HOW WILL WE GET OUR NEWEST 9/11 COMMEMORATIVE COINS.

 

[JohnnyGage]

Originally posted by: eskimospy
HOW WILL WE GET OUR NEWEST 9/11 COMMEMORATIVE COINS.

That is about the funniest thing you've said here. I'm waiting for mine with the pop-up WTC.

 

[Wreckem]

Its stupid to pay a premium for AEs anyways.

Why not buy Rands?

 

[TheSlamma]

The mint shuts this down all the time. You can still buy gold and silver elsewhere.

 

[IceBergSLiM]

Ohhh noessss My typical weekly coin purchase will from 0 gold and silver coins per week to 0 gold and silver coins per week.

 

[PingSpike]

I was hoping for a tulip bubble personally. But I consume hardly any gold at all on a daily basis so this seems like an improvement over oil.

 

[Lemon law]

Cheer up, pennies are the only US coinage worth face value. Buy Buy Buy.

 

[Pliablemoose]

It's not just US gold coins that are in short supply, it's all of them. Dealers can't keep them in stock and it's a worldwide issue...

 

[RU482]

Originally posted by: eskimospy
HOW WILL WE GET OUR NEWEST 9/11 COMMEMORATIVE COINS.

the US MINT has halted production....not the Liberian Mint
(didn't you read the fine print?)

 

[Fern]

Might be time pretty soon to look into shorting gold futures.

Fern