Not by measurement in real dollars, it'll need to hit about $2400 an oz. If you got $5k to invest nickle could be a better investment. You'll need a few sq ft in a garage or basement to store it but have the bank give you 50 boxes. It'll be 1100lbs. You'd currently have scrap metal worth an extra $950 above face value. If nickel and copper prices double you'd have $11,900 worth of metal. A quarter from 1964 is worth $7.76 in scrap metal, so these things happen. You are guaranteed to never have less than $5000 even if metal becomes worthless.
what would the return be if you had 5000 in 1964, and put it in a bank and left it there? or a bond? btw, is that actually true? because I have some 1964 half dollars (and older ones, with Ben Franklin on them)...how much would they be worth? If my math is right (and if history is any judge, it's not), you're saying each quarter is worth 30 bucks? Because I sure as hell didn't pay 30 bucks for the half dollars and quarters I've bought recently? OR are you talking about inflation?
If you put all the gold that's been mined in human history into one cube it would only be 67ft on each side. That's what I'd expect fort Knox to look like, not all the gold ever seen by man. It definitely is a precious metal.
Yes, half dollars up to 1964 are worth $15.52 and quarters are worth $7.76 in today's scrap metal prices. That is 31x original face value. The coins usually would be worth more as collectables, there is a price guide at numismedia.com. Scrap metal prices are the bottom end for junk coins with zero collectability.
Well I'm sure some bond's were superior and obviously the stock market is. I believe the compound average growth rate is 7.58%, pretty solid and definetely far better than a low rate government bond or bank account. But this is a much lower risk investment than stock, bonds, commodities or gold. If you bought at face value you'd never have a loss.
See, this is where my math sucks. I knew it couldn't be 30 bucks a quarter, but 30 bucks (approx) per 4 quarters..
hey, what happens between me, a blowtorch and my bag of Franklin Half dollars is none of the governments business!
It's legal to melt all silver and gold coins. Since 2006 its been illegal to melt pennies and nickles, but the ban is expected to be temporary and lifted in a few years when the government changes production as they did in the 60's. The coins still trade for their intrinsic (scrap metal) value. Junk copper pennies sell on ebay today for more than 2x face value. Yes you can sell $20 of 1981 pennies on ebay for over $40.
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I've heard this as well. Gold sounds kind of risky. http://www.commodityonline.com/news/Gold-bubble-What-goes-up-should-come-down-41778-3-1.html
Im a bit of a gold bug but the problem I have with buying gold now is that people like you are starting to consider buying it. Nothing personal intended, but as a rule when the general public starts to buy into something then its time to consider selling. In the short term Im a little concerned that gold might be going a little parabolic and Ive read of more margin hikes that could also cause the price to drop in the near term, in the long term however I am still bullish on gold and silver and I will continue to be bullish untll the Euro and American debt crisis is undercontrol. At the moment buying gold isnt a bet that gold will go up so much as its a bet that the dollar will go down, in fact If you compare the price of gold to currencies like the swiss franc then it has actually been loosing some ground. With that said my advice would be to own some gold and silver but at this point dont go overboard. Only invest what you can afford to loose and consider it a long term investment. Good places to buy physical gold/silver are www.apmex.com and intown these guys are good www.ajpm.com. You can also invest in the gold etf, GLD or SLV. I day trade those along with some mineing companies GOLD, SLW, PAAS, GG, AEM, KGC and SIL, all of which are on my watch list. At the moment I dropped all gold stock to profit take and Im looking at getting back into silver as it has been stagnant during golds recent rise and could be ready for a catch up phase, but I haven't made a decision yet.
Grand jury indicts U.S. Gold & Silver Investments owner Larry Heim on $1.7 million fraud scheme A federal grand jury has indicted a longtime Portland gold and silver coin peddler, alleging he and others schemed to steal $1.7 million from investors in eight states. The Portland jury indicted Lawrence H. Heim of Tigard with 12 counts of mail fraud and one count of wire fraud, U.S. Attorney Dwight C. Holton said Wednesday in U.S. District Court. Heim had owned U.S. Gold & Silver Investments, Inc., in Portland since 1972. He also operated a website www.noirs.com/invest and at one point hosted a radio show, according to the indictment. As recently as February, the indictment says, Heim's website told readers: "Buy gold and silver NOW! The sell-off may be over. Remember, my calculations say that gold is going to $11,500 per ounce. That is about 8 times where it is right now." But between June 2010 and November 2010, Heim received $1.7 million in from 12 investors trying to purchase 1,100 gold coins and 3,500 silver coins, the indictment said. The investors sent money from Portland, Lake Oswego, Vancouver, California, Minnesota, Pennsylvania, Florida and Idaho. Heim never delivered the coins, the indictment says. He also falsely promised to send customers refunds and made up explanations as to why their purchases were delayed, according to the indictment. Investors have sued and won judgments against Heim or his company in federal and state courts, attorneys say. Heim has failed to contest the claims, they say. The $1.7 million amount "seems low based on what I have heard from other victims and the allegations in the four civil lawsuits," said Carter Mann, an attorney with Lane Powell in Portland. Mann's client, the estate of Portland high-tech pioneer Tom Holce, won a $200,000 judgment in Washington County. The pioneering Oregon entrepreneur, who founded or backed several prominent companies, first invested with Heim in 1996. Holce was unable to get his coins or money from Heim before his death last year, the lawsuit says. After investors began complaining to authorities about Heim, FBI agents, armed with a search warrant, seized records from Heim's home in March. Heim's wife, Patricia, told the FBI that Heim moved the business into their home after it struggled even to pay rent. She moved out of the home in 2002 and has lived on her own since. The Heims filed for divorce in February, Washington County Circuit Court records show. The price of silver traded today for $41.05 an ounce, up $1.89. Gold futures traded at $1,763 an ounce today, up $5.90, after trading for more than $1,900 an ounce on Monday. http://www.oregonlive.com/business/index.ssf/2011/08/grand_jury_indicts_us_gold_sil.html
If the US dollar stops being the world's reserve currency.... Well maybe then you should consider gold. Our dollar has devalued greatly just this year. All this talk about printing more money is scary.
